10-Q Filing

BIOMERICA INC CIK: 73290 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001513162-18-000265`
Period End Date	20180831
Filing Date	20181015
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	bmra-20180831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 50

Balance Sheet 68 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`	$63.39K	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$583.69K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $63,392 and $57,695 as of August 31, 2018 and May 31, 2018,respectively	`AccountsReceivableNetCurrent`	$1.01M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $63,392 and $57,695 as of August 31, 2018 and May 31, 2018,respectively	`AccountsReceivableNetCurrent`	$799.94K	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
Inventories	`InventoryNet`	$2.18M	USD	Point-in-time
Inventories	`InventoryNet`	$2.21M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$311.29K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$300.41K	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
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.48M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.12M	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 $1,688,423 and $1,661,128	`PropertyPlantAndEquipmentNet`	$361.94K	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $1,688,423 and $1,661,128	`PropertyPlantAndEquipmentNet`	$351.15K	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Deferred Tax Assets	`DeferredTaxAssetsGrossNoncurrent`	$10.00K	USD	Point-in-time
Deferred Tax Assets	`DeferredTaxAssetsGrossNoncurrent`	$10.00K	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
Investments	`Investments`	$165.32K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.95M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.89M	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$104.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.95M	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$98.92K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.89M	shares	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$116.53K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$113.16K	USD	Point-in-time
Total Assets	`Assets`	$5.22M	USD	Point-in-time
Total Assets	`Assets`	$4.88M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$582.98K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$686.96K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$209.85K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$214.56K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$896.81K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$797.53K	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, 2018 and May 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2018 and May 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, issued and outstanding 8,953,832 at August 31, 2018 and 8,888,011 at May 31, 2018	`CommonStockValue`	$716.30K	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, issued and outstanding 8,953,832 at August 31, 2018 and 8,888,011 at May 31, 2018	`CommonStockValue`	$711.04K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$20.84M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$21.03M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$9.06K	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-27.46K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.14K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.65M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.33M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.08M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.22M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.88M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.44M	USD	1 Quarter
Net sales	`Revenues`	$1.27M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$929.91K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$935.65K	USD	1 Quarter
Gross profit	`GrossProfit`	$514.57K	USD	1 Quarter
Gross profit	`GrossProfit`	$337.22K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$400.23K	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`	$391.78K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$792.01K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$740.60K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-226.03K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-454.79K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$3.09K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$18.97K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$47.00	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$18.97K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$3.05K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-451.74K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-207.06K	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`	$-451.74K	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic net loss per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Diluted net loss per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted net loss per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.93M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.51M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.51M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.93M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-207.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-451.74K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-824.00	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.33K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-453.07K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-207.88K	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-207.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-451.74K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$43.96K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.83K	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$7.51K	USD	1 Quarter
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$5.70K	USD	1 Quarter
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$715.00	USD	1 Quarter
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-8.00	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$4.38K	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$8.08K	USD	1 Quarter
Increase in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$3.33K	USD	1 Quarter
Increase in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$5.56K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.20K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$219.44K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$30.39K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$62.38K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$19.05K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$14.26K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-107.31K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$82.48K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$4.70K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.81K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-124.71K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-756.66K	USD	1 Quarter
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	$22.52K	USD	1 Quarter
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.97K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.08K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.97K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-60.60K	USD	1 Quarter
Proceeds from sale of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$179.50K	USD	1 Quarter
Proceeds from sale of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.04K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$17.88K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.04K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$197.38K	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.33K	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-824.00	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-621.21K	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`	$1.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$583.69K	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$1.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$583.69K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	$47.00	USD	1 Quarter

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