10-K Filing

BIOMERICA INC CIK: 73290 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001513162-18-000223`
Period End Date	20180531
Filing Date	20180829
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	bmra-20180531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 40 Cash Flow Statement 54 Stockholders Equity 18

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.70K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$50.13K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Preferred Stock, No Par Value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
Preferred Stock, No Par Value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $57,695 and $50,129, respectively	`AccountsReceivableNetCurrent`	$1.06M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $57,695 and $50,129, respectively	`AccountsReceivableNetCurrent`	$799.94K	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$1.73M	USD	Point-in-time
Inventories, net	`InventoryNet`	$2.18M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$195.76K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$300.41K	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
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.48M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	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
Equipment	`EquipmentGross`	$1.55M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.89M	shares	Point-in-time
Equipment	`EquipmentGross`	$1.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.51M	shares	Point-in-time
Furniture, fixtures and leasehold improvements	`FurnitureFixturesAndLeaseholdImprovementsGross`	$332.52K	USD	Point-in-time
Furniture, fixtures and leasehold improvements	`FurnitureFixturesAndLeaseholdImprovementsGross`	$204.12K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.89M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.51M	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.88M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$2.01M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.66M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.55M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$331.86K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$351.15K	USD	Point-in-time
DEFERRED TAX ASSETS	`DeferredTaxAssetsGrossNoncurrent`	$41.00K	USD	Point-in-time
DEFERRED TAX ASSETS	`DeferredTaxAssetsGrossNoncurrent`	$10.00K	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$98.92K	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$174.47K	USD	Point-in-time
INVESTMENTS	`Investments`	$165.32K	USD	Point-in-time
INVESTMENTS	`Investments`	$165.32K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$113.16K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$94.99K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.02M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.22M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$352.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$686.96K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$176.87K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$209.85K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$528.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$896.81K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value, 5,000,000 authorized shares, no shares issued and outstanding at May 31, 2018 and 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value, 5,000,000 authorized shares, no shares issued and outstanding at May 31, 2018 and 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.08 par value; 25,000,000 shares authorized; 8,888,011 and 8,511,173 shares issued and outstanding at May 31, 2018 and 2017, respectively	`CommonStockValue`	$711.04K	USD	Point-in-time
Common stock, $.08 par value; 25,000,000 shares authorized; 8,888,011 and 8,511,173 shares issued and outstanding at May 31, 2018 and 2017, respectively	`CommonStockValue`	$680.89K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.55M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$20.84M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$9.06K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.14K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.83K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.73M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$5.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.33M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.49M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.22M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.02M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$5.56M	USD	Annual
Net sales	`Revenues`	$5.79M	USD	Annual
Cost of sales	`CostOfRevenue`	$3.81M	USD	Annual
Cost of sales	`CostOfRevenue`	$3.77M	USD	Annual
GROSS PROFIT	`GrossProfit`	$1.75M	USD	Annual
GROSS PROFIT	`GrossProfit`	$2.02M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.84M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.85M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.13M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.40M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.98M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.24M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.48M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-954.63K	USD	Annual
Interest expense	`InterestExpense`	$282.00	USD	Annual
Interest expense	`InterestExpense`	$37.00	USD	Annual
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$46.35K	USD	Annual
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$47.76K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$46.07K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$47.73K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.43M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-908.56K	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	-	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$31.80K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-908.56K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.47M	USD	Annual
BASIC NET LOSS PER COMMON SHARE (in Dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	Annual
BASIC NET LOSS PER COMMON SHARE (in Dollars per share)	`EarningsPerShareBasic`	$-0.11	USD	Annual
DILUTED NET LOSS PER COMMON SHARE (in Dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	Annual
DILUTED NET LOSS PER COMMON SHARE (in Dollars per share)	`EarningsPerShareDiluted`	$-0.11	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.33M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.57M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.57M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.33M	shares	Annual
NET LOSS	`NetIncomeLoss`	$-908.56K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.47M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.25K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-10.30K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-910.81K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-1.48M	USD	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-908.56K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.47M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$186.60K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$219.22K	USD	Annual
Change in provision for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$41.72K	USD	Annual
Change in provision for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$7.57K	USD	Annual
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$7.61K	USD	Annual
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-16.50K	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$21.73K	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$18.47K	USD	Annual
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$15.79K	USD	Annual
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$8.07K	USD	Annual
Decrease in deferred tax asset	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	Annual
Decrease in deferred tax asset	`IncreaseDecreaseInDeferredIncomeTaxes`	$-31.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$132.26K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-252.50K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-150.47K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$457.27K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$104.65K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$82.18K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$18.17K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$39.34K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$319.17K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.45K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$4.32K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$32.99K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.17M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-722.86K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$96.08K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.35K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-96.08K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-130.35K	USD	Annual
Proceeds from sale of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from sale of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$1.27M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$27.44K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$157.73K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$157.73K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.29M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.25K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-10.30K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.56K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-663.46K	USD	Annual
CASH AND CASH EQUIVALENTS, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.89M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Subscriptions receivable	`SubscriptionsReceivable`	-	USD	Annual
Subscriptions receivable	`SubscriptionsReceivable`	$9.06K	USD	Annual
Interest	`InterestPaid`	$282.00	USD	Annual
Interest	`InterestPaid`	$37.00	USD	Annual
Income taxes	`IncomeTaxesPaid`	$800.00	USD	Annual
Income taxes	`IncomeTaxesPaid`	$800.00	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$5.22M	USD	Point-in-time
Balances	`StockholdersEquity`	$4.33M	USD	Point-in-time
Balances	`StockholdersEquity`	$4.49M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$157.73K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$27.44K	USD	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	34,750.00	shares	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	341,500.00	shares	Annual
Net proceeds from ATM	`StockIssuedDuringPeriodValueNewIssues`	$1.28M	USD	Annual
Stock subscription receivable	`AdjustmentsToAdditionalPaidInCapitalOther`	$-9.06K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.25K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-10.30K	USD	Annual
Compensation expense in connection with options granted	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$21.73K	USD	Annual
Compensation expense in connection with options granted	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$18.47K	USD	Annual
Net loss	`NetIncomeLoss`	$-908.56K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.47M	USD	Annual
Balances	`StockholdersEquity`	$5.22M	USD	Point-in-time
Balances	`StockholdersEquity`	$4.33M	USD	Point-in-time
Balances	`StockholdersEquity`	$4.49M	USD	Point-in-time

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