10-Q Filing

Red Cat Holdings, Inc. CIK: 748268 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001554795-19-000133`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	tfvr-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 46 Cash Flow Statement 79 Stockholders Equity 9

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$5.79K	USD	Point-in-time
Cash	`Cash`	$8.92K	USD	Point-in-time
Cryptocurrencies	`OtherInvestments`	$8.16K	USD	Point-in-time
Cryptocurrencies	`OtherInvestments`	$32.92K	USD	Point-in-time
Interest receivable	`InterestReceivable`	$14.93K	USD	Point-in-time
Interest receivable	`InterestReceivable`	$10.43K	USD	Point-in-time
Miscellaneous receivable	`AccountsAndOtherReceivablesNetCurrent`	$22.50K	USD	Point-in-time
Miscellaneous receivable	`AccountsAndOtherReceivablesNetCurrent`	$100.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$938.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.53K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$20.63K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$14.47K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	122,290.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$170.71K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.51K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	122,290.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	122,290.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	122,290.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$75.65K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$91.68K	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
Total Assets	`Assets`	$146.16K	USD	Point-in-time
Total Assets	`Assets`	$262.39K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	235.46M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	235.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	235.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	235.46M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$138.95K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$183.94K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayable`	$1.98M	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayable`	$1.97M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$75.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$75.00K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$15.00K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Accrued interest	`AccruedLiabilitiesCurrent`	$494.96K	USD	Point-in-time
Accrued interest	`AccruedLiabilitiesCurrent`	$601.91K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.84M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilities`	$82.37K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilities`	$79.09K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$82.37K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$79.09K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.92M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, par value $.01, 10,000,000 shares authorized all series	`PreferredStockValue`	$1.22K	USD	Point-in-time
Preferred Stock, par value $.01, 10,000,000 shares authorized all series	`PreferredStockValue`	$1.22K	USD	Point-in-time
Common stock, par value $.001 per share, 500,000,000 shares authorized; 235,460,470 shares issued and outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$235.46K	USD	Point-in-time
Common stock, par value $.001 per share, 500,000,000 shares authorized; 235,460,470 shares issued and outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$235.46K	USD	Point-in-time
Obligation to issue common stock	`PreferredStockSharesSubscribedButUnissuedValue`	$1.00K	USD	Point-in-time
Obligation to issue common stock	`PreferredStockSharesSubscribedButUnissuedValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.38M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-2.78M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-2.51M	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$262.39K	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$146.16K	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.81K	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Cost of revenues	`CostsAndExpenses`	$37.26K	USD	1 Quarter
Cost of revenues	`CostsAndExpenses`	-	USD	1 Quarter
Gross margin	`GrossProfit`	$-32.44K	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	1 Quarter
Occupancy	`OccupancyNet`	$3.10K	USD	1 Quarter
Occupancy	`OccupancyNet`	$2.52K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$276.49K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$52.56K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$59.67K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$290.08K	USD	1 Quarter
Other operating expenses	`OtherGeneralExpense`	$66.84K	USD	1 Quarter
Other operating expenses	`OtherGeneralExpense`	$16.77K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$131.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$636.50K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-636.50K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-163.97K	USD	1 Quarter
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-268.93K	USD	1 Quarter
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-3.29K	USD	1 Quarter
Loss recognized on disposition of cryptocurrencies	`VentureCapitalGainsLossesNet`	$-56.60K	USD	1 Quarter
Loss recognized on disposition of cryptocurrencies	`VentureCapitalGainsLossesNet`	$-4.61K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$4.50K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$1.84K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNet`	$-162.13K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNet`	$-121.10K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-485.82K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-124.49K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-288.47K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.12M	USD	1 Quarter
Gain on disposal of Timefire, LLC	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Gain on disposal of Timefire, LLC	`GainLossOnSaleOfBusiness`	$670.43K	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax`	-	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax`	$-180.00	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$670.25K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-288.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-452.08K	USD	1 Quarter
Basic and diluted net income (loss) per common share, continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Basic and diluted net income (loss) per common share, continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted net income (loss) per common share, discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted net income (loss) per common share, discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	235.46M	shares	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.18M	shares	1 Quarter

Cash Flow Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net loss from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-288.47K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.12M	USD	1 Quarter
Net income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$670.25K	USD	1 Quarter
Net income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	1 Quarter
Depreciation	`DepreciationAmortizationAndAccretionNet`	$868.00	USD	1 Quarter
Depreciation	`DepreciationAmortizationAndAccretionNet`	$16.03K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$71.34K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Amortization of prepaid colocation services	`OtherDepreciationAndAmortization`	-	USD	1 Quarter
Amortization of prepaid colocation services	`OtherDepreciationAndAmortization`	$21.16K	USD	1 Quarter
Warrants and options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$348.59K	USD	1 Quarter
Warrants and options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$17.95K	USD	1 Quarter
Change in derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-268.93K	USD	1 Quarter
Change in derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-3.29K	USD	1 Quarter
Net cryptocurrencies received in lieu of cash	`NetCryptocurrenciesReceivedInLieuOfCash`	$-4.15K	USD	1 Quarter
Net cryptocurrencies received in lieu of cash	`NetCryptocurrenciesReceivedInLieuOfCash`	-	USD	1 Quarter
Loss recognized on disposition of cryptocurrencies	`VentureCapitalGainsLossesNet`	$-56.60K	USD	1 Quarter
Loss recognized on disposition of cryptocurrencies	`VentureCapitalGainsLossesNet`	$-4.61K	USD	1 Quarter
Interest expense from amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$25.67K	USD	1 Quarter
Interest expense from amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$14.07K	USD	1 Quarter
Gain on sale of subsidiary	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Gain on sale of subsidiary	`GainLossOnSaleOfBusiness`	$670.43K	USD	1 Quarter
Cryptocurrencies exchanged for cash	`CryptocurrenciesPaidInLieuOfCash`	-	USD	1 Quarter
Cryptocurrencies exchanged for cash	`CryptocurrenciesPaidInLieuOfCash`	$24.30K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-594.00	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$136.65K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$106.95K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-58.02K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$136.65K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$106.95K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-71.17K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$44.99K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-44.37K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-344.85K	USD	1 Quarter
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
Collection of miscallenous receivable	`ProceedsFromCollectionOfOtherReceivables`	-	USD	1 Quarter
Collection of miscallenous receivable	`ProceedsFromCollectionOfOtherReceivables`	$62.50K	USD	1 Quarter
Purchase of cryptocurrency	`PaymentsToAcquireOtherInvestments`	$100.00K	USD	1 Quarter
Purchase of cryptocurrency	`PaymentsToAcquireOtherInvestments`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-52.61K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$62.50K	USD	1 Quarter
Net proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$1.00M	USD	1 Quarter
Net proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$50.00K	USD	Point-in-time
Net proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Repayment of note payable - related party	`RepaymentsOfRelatedPartyDebt`	$1.82K	USD	Point-in-time
Repayment of note payable - related party	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Repayment of note payable - related party	`RepaymentsOfRelatedPartyDebt`	$15.00K	USD	Point-in-time
Repayment of note payable - related party	`RepaymentsOfRelatedPartyDebt`	$15.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.00M	USD	1 Quarter
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$602.54K	USD	1 Quarter
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.13K	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$559.24K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.79K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$8.92K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$559.24K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.79K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$8.92K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Issuance of Series E Preferred for Other Preferred and warrants	`IssuanceOfSeriesEPreferredForSeriesA1AndCPreferredAndWarrants`	$1.63M	USD	1 Quarter
Issuance of Series E Preferred for Other Preferred and warrants	`IssuanceOfSeriesEPreferredForSeriesA1AndCPreferredAndWarrants`	-	USD	1 Quarter
Issuance of Series E Preferred for convertible debt and accrued interest	`IssuanceOfSeriesEPreferredForConvertibleDebtAndAccruedInterest`	$939.97K	USD	1 Quarter
Issuance of Series E Preferred for convertible debt and accrued interest	`IssuanceOfSeriesEPreferredForConvertibleDebtAndAccruedInterest`	-	USD	1 Quarter
Conversion of Series E Preferred stock to common stock	`ConversionOfSeriesEPreferredStockToCommonStock`	-	USD	1 Quarter
Conversion of Series E Preferred stock to common stock	`ConversionOfSeriesEPreferredStockToCommonStock`	$108.33K	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
Reduction of misc receivable in exchange for prepaid colocation services	`ReductionOfMiscReceivableInExchangeForPrepaidColocationServices`	-	USD	1 Quarter
Reduction of misc receivable in exchange for prepaid colocation services	`ReductionOfMiscReceivableInExchangeForPrepaidColocationServices`	$15.00K	USD	1 Quarter
Interest paid in cash	`InterestPaidNet`	-	USD	1 Quarter
Interest paid in cash	`InterestPaidNet`	$74.00	USD	1 Quarter
Income taxes paid in cash	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid in cash	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-2.78M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-2.51M	USD	Point-in-time
Exchange of shares for services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$71.34K	USD	1 Quarter
Exchange of shares for services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Stock options issued for services	`StockOptionsIssuedForServices`	$17.95K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-288.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-452.08K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$-2.78M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-2.51M	USD	Point-in-time

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