10-Q Filing

Red Cat Holdings, Inc. CIK: 748268 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001554795-18-000141`
Period End Date	20180331
Filing Date	20180521
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	tfvr-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 46 Cash Flow Statement 79

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.16M	USD	Point-in-time
Cash	`Cash`	$559.24K	USD	Point-in-time
Investment in ether	`OtherInvestments`	$43.40K	USD	Point-in-time
Investment in ether	`OtherInvestments`	-	USD	Point-in-time
Note receivable	`NotesReceivableNet`	-	USD	Point-in-time
Note receivable	`NotesReceivableNet`	$120.00K	USD	Point-in-time
Interest receivable	`InterestReceivable`	$1.80K	USD	Point-in-time
Interest receivable	`InterestReceivable`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$38.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$189.27K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$131.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$690.52K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$51.24K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.13K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	15,425.00	shares	Point-in-time
Deposit	`DepositsAssets`	-	USD	Point-in-time
Deposit	`DepositsAssets`	$33.50K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	195,382.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	195,382.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	15,425.00	shares	Point-in-time
Total Assets	`Assets`	$750.15K	USD	Point-in-time
Total Assets	`Assets`	$1.57M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	155.60M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$73.49K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$349.47K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.27M	shares	Point-in-time
Demand obligation payable - related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Demand obligation payable - related party	`DueToRelatedPartiesCurrent`	$116.88K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	155.60M	shares	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayable`	$1.56M	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayable`	$1.78M	USD	Point-in-time
Accrued interest	`AccruedLiabilitiesCurrent`	$321.82K	USD	Point-in-time
Accrued interest	`AccruedLiabilitiesCurrent`	$200.15K	USD	Point-in-time
Short-term advance - related party	`ShortTermBorrowings`	$57.40K	USD	Point-in-time
Short-term advance - related party	`ShortTermBorrowings`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.41M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilities`	$338.09K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilities`	$198.99K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$338.09K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$198.99K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.39M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Series A stock, par value $.01 per share, 134,00 shares authorized; 133,334 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively. Stated at redemption value.	`PreferredStockRedemptionAmount`	-	USD	Point-in-time
Preferred Series A stock, par value $.01 per share, 134,00 shares authorized; 133,334 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively. Stated at redemption value.	`PreferredStockRedemptionAmount`	$1.50M	USD	Point-in-time
Preferred Stock, par value $.01, 10,000,000 shares authorized all series	`PreferredStockValue`	$1.95K	USD	Point-in-time
Preferred Stock, par value $.01, 10,000,000 shares authorized all series	`PreferredStockValue`	$154.00	USD	Point-in-time
Obligation to issue common stock	`PreferredStockSharesSubscribedButUnissuedValue`	$7.67K	USD	Point-in-time
Obligation to issue common stock	`PreferredStockSharesSubscribedButUnissuedValue`	-	USD	Point-in-time
Common stock, par value $.001 per share, 500,000,000 shares authorized; 155,601,804 and 47,269,804 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$47.27K	USD	Point-in-time
Common stock, par value $.001 per share, 500,000,000 shares authorized; 155,601,804 and 47,269,804 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$155.60K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$-666.10K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.74M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-821.58K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.36M	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$750.15K	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.57M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Occupancy	`OccupancyNet`	$3.10K	USD	1 Quarter
Occupancy	`OccupancyNet`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$868.00	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$276.49K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$141.19K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$217.20K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$290.08K	USD	1 Quarter
Other operating expenses	`OtherGeneralExpense`	$92.38K	USD	1 Quarter
Other operating expenses	`OtherGeneralExpense`	$65.97K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$636.50K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$450.77K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-450.77K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-636.50K	USD	1 Quarter
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-268.93K	USD	1 Quarter
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$2.62M	USD	1 Quarter
Loss in fair value of ether	`VentureCapitalGainsLossesNet`	-	USD	1 Quarter
Loss in fair value of ether	`VentureCapitalGainsLossesNet`	$-56.60K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$1.84K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNet`	$-162.13K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNet`	$-31.49K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-485.82K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$2.59M	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$2.14M	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.12M	USD	1 Quarter
Gain on disposal of Timefire, LLC	`GainLossOnSaleOfBusiness`	$670.43K	USD	1 Quarter
Gain on disposal of Timefire, LLC	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax`	$-180.00	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax`	$-712.22K	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-712.22K	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$670.25K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-452.08K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.43M	USD	1 Quarter
Basic net income (loss) per common share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic net income (loss) per common share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted net income (loss) per common share	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted net income (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	44.86M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	114.18M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	114.18M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	69.24M	shares	1 Quarter

Cash Flow Statement 79 line items

Line Item	Tag	Value	Unit	Period
Conversion of Series A-1 Preferred stock to common stock	`ConversionOfSeriesA1PreferredStockToCommonStock`	$3.75K	USD	1 Quarter
Conversion of Series A-1 Preferred stock to common stock	`ConversionOfSeriesA1PreferredStockToCommonStock`	-	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$2.14M	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.12M	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-712.22K	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$670.25K	USD	1 Quarter
Depreciation and amortization	`OtherDepreciationAndAmortization`	$3.15K	USD	1 Quarter
Depreciation and amortization	`OtherDepreciationAndAmortization`	$868.00	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$32.50K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$71.34K	USD	1 Quarter
Warrants and options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$265.56K	USD	1 Quarter
Warrants and options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$348.59K	USD	1 Quarter
Change in derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-268.93K	USD	1 Quarter
Change in derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$2.62M	USD	1 Quarter
Loss in fair value of ether	`VentureCapitalGainsLossesNet`	-	USD	1 Quarter
Loss in fair value of ether	`VentureCapitalGainsLossesNet`	$-56.60K	USD	1 Quarter
Restricted stock units issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Restricted stock units issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	$128.69K	USD	1 Quarter
Interest expense from amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$5.91K	USD	1 Quarter
Interest expense from amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$25.67K	USD	1 Quarter
Straight line non-cash rent expense	`StraightLineRent`	-	USD	1 Quarter
Straight line non-cash rent expense	`StraightLineRent`	$32.15K	USD	1 Quarter
Gain on sale of subsidiary	`GainLossOnSaleOfBusiness`	$670.43K	USD	1 Quarter
Gain on sale of subsidiary	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$28.94K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$136.65K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-91.08K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-58.02K	USD	1 Quarter
Escrow fund	`IncreaseDecreaseInRestrictedCash`	$59.39K	USD	1 Quarter
Escrow fund	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	-	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	$78.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$28.94K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$136.65K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$24.61K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-71.17K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-344.85K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-626.67K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$276.20K	USD	Point-in-time
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$52.10K	USD	1 Quarter
Proceeds from sale of subsidiary net of subsidiary cash	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	$99.50K	USD	1 Quarter
Proceeds from sale of subsidiary net of subsidiary cash	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	-	USD	1 Quarter
Purchases of ether	`PaymentsToAcquireOtherInvestments`	$100.00K	USD	1 Quarter
Purchases of ether	`PaymentsToAcquireOtherInvestments`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-52.61K	USD	1 Quarter
Net proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$1.00M	USD	1 Quarter
Net proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$617.50K	USD	1 Quarter
Net proceeds from convertible notes payable - related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Net proceeds from convertible notes payable - related party	`ProceedsFromRelatedPartyDebt`	$95.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.00M	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$712.50K	USD	1 Quarter
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$602.54K	USD	1 Quarter
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$85.83K	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$559.24K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$311.21K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$225.38K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$559.24K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$311.21K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$225.38K	USD	Point-in-time
Issuance of Series E Preferred for Series A, A-1 and C Preferred and warrants	`IssuanceOfSeriesEPreferredForSeriesA1AndCPreferredAndWarrants`	-	USD	1 Quarter
Issuance of Series E Preferred for Series A, A-1 and C Preferred and warrants	`IssuanceOfSeriesEPreferredForSeriesA1AndCPreferredAndWarrants`	$1.63M	USD	1 Quarter
Issuance of Series E Preferred for convertible debt and accrued interest	`IssuanceOfSeriesEPreferredForConvertibleDebtAndAccruedInterest`	-	USD	1 Quarter
Issuance of Series E Preferred for convertible debt and accrued interest	`IssuanceOfSeriesEPreferredForConvertibleDebtAndAccruedInterest`	$939.97K	USD	1 Quarter
Conversion of Series E Preferred stock to common stock	`ConversionOfSeriesEPreferredStockToCommonStock`	$108.33K	USD	1 Quarter
Conversion of Series E Preferred stock to common stock	`ConversionOfSeriesEPreferredStockToCommonStock`	-	USD	1 Quarter
Conversion of Series C Preferred stock to common stock	`ConversionOfSeriesCPreferredStockToCommonStock`	-	USD	1 Quarter
Conversion of Series C Preferred stock to common stock	`ConversionOfSeriesCPreferredStockToCommonStock`	$1.30K	USD	1 Quarter
Conversion of Series A-1 Preferred stock to common stock	`ConversionOfSeriesA1PreferredStockToCommonStock`	$3.75K	USD	1 Quarter
Conversion of Series A-1 Preferred stock to common stock	`ConversionOfSeriesA1PreferredStockToCommonStock`	-	USD	1 Quarter
Note receivable from sale of subsidiary	`IncreaseDecreaseInAccountsAndNotesReceivable`	-	USD	1 Quarter
Note receivable from sale of subsidiary	`IncreaseDecreaseInAccountsAndNotesReceivable`	$120.00K	USD	1 Quarter
Interest paid in cash	`InterestPaidNet`	-	USD	1 Quarter
Interest paid in cash	`InterestPaidNet`	$92.00	USD	1 Quarter
Income taxes paid in cash	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid in cash	`IncomeTaxesPaidNet`	-	USD	1 Quarter

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