10-Q Filing

BIOMERICA INC CIK: 73290 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001513162-17-000283`
Period End Date	20170831
Filing Date	20171016
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	bmra-20170831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 38 Cash Flow Statement 46

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$50.13K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.64K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.55M	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $57,643 and $50,129 as of August 31, 2017 and May 31, 2017, respectively	`AccountsReceivableNetCurrent`	$1.06M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $57,643 and $50,129 as of August 31, 2017 and May 31, 2017, respectively	`AccountsReceivableNetCurrent`	$1.05M	USD	Point-in-time
Preferred Stock, No Par Value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, No Par Value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.73M	USD	Point-in-time
Inventories	`InventoryNet`	$1.79M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$251.46K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$195.76K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.17M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.21M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $1,581,295 and $1,550,073	`PropertyPlantAndEquipmentNet`	$320.61K	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $1,581,295 and $1,550,073	`PropertyPlantAndEquipmentNet`	$331.86K	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Deferred Tax Assets	`DeferredTaxAssetsGrossNoncurrent`	$41.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred Tax Assets	`DeferredTaxAssetsGrossNoncurrent`	$41.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.51M	shares	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.51M	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$174.47K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$156.86K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.51M	shares	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$94.99K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$58.34K	USD	Point-in-time
Total Assets	`Assets`	$4.91M	USD	Point-in-time
Total Assets	`Assets`	$5.02M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$352.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$440.04K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$176.87K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$186.68K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$528.87K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$626.72K	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2017 and May 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2017 and May 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, Issued and outstanding 8,512,173 at August 31, 2017 and 8,511,173 at May 31, 2017	`CommonStockValue`	$680.97K	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, Issued and outstanding 8,512,173 at August 31, 2017 and 8,511,173 at May 31, 2017	`CommonStockValue`	$680.89K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$19.55M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$19.56M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.66K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.83K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.93M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.49M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.29M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.91M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.02M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.41M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.44M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$833.15K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$929.91K	USD	1 Quarter
Gross profit	`GrossProfit`	$576.96K	USD	1 Quarter
Gross profit	`GrossProfit`	$514.57K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$418.35K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$452.01K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$288.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$224.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$740.60K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$642.59K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-226.03K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-65.63K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$10.21K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$18.97K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$10.21K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$18.97K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-207.06K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-55.42K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-207.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.42K	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Diluted net loss per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted net loss per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.17M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.51M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.17M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.51M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-207.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.42K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-824.00	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$26.00	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-55.39K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-207.88K	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-207.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.42K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.83K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$52.98K	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-192.00	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$7.51K	USD	1 Quarter
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-8.00	USD	1 Quarter
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-9.97K	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$4.38K	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$172.00	USD	1 Quarter
Increase(decrease)in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$5.56K	USD	1 Quarter
Increase(decrease)in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-7.50K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.20K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-650.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$62.38K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-22.61K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$21.65K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$19.05K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-62.81K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$82.48K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.20K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.81K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-71.93K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-124.71K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.97K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.97K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.04K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.04K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-824.00	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$26.00	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-71.91K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-144.47K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.