10-Q Filing

Red Cat Holdings, Inc. CIK: 748268 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001554795-19-000332`
Period End Date	20190731
Filing Date	20190923
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	rcat-20190731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 22 Cash Flow Statement 42 Stockholders Equity 19

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$479.35K	USD	Point-in-time
Cash	`Cash`	$570.33K	USD	Point-in-time
Cash	`Cash`	$503.44K	USD	Point-in-time
Cash	`Cash`	$330.23K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssets`	$70.54K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssets`	$100.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$400.77K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$603.44K	USD	Point-in-time
Property and Equipment	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Property and Equipment	`PropertyPlantAndEquipmentNet`	$3.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	6.50M	shares	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$132.64K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	6.50M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
TOTAL ASSETS	`Assets`	$536.40K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$603.44K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.18M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.18M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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
Accounts payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$60.93K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Accounts payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$20.89K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.93M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	179,293.00	shares	Point-in-time
Payroll liabilities	`EmployeeRelatedLiabilitiesCurrent`	$13.32K	USD	Point-in-time
Payroll liabilities	`EmployeeRelatedLiabilitiesCurrent`	$20.80K	USD	Point-in-time
Accrued Expense	`AccruedLiabilitiesCurrent`	$89.20K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	179,293.00	shares	Point-in-time
Accrued Expense	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.93M	shares	Point-in-time
Common shares to be issued	`CommonStockSharesSubscriptions`	$754.70K	USD	Point-in-time
Common shares to be issued	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Capital to be returned	`OtherLiabilitiesCurrent`	$1.80K	USD	Point-in-time
Capital to be returned	`OtherLiabilitiesCurrent`	$1.80K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$172.72K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$790.71K	USD	Point-in-time
Total Liabilities	`Liabilities`	$790.71K	USD	Point-in-time
Total Liabilities	`Liabilities`	$172.72K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A Preferred Stock - shares authorized 2,200,000; outstanding 208,704 and 0; Series B Preferred Stock - shares authorized 4,300,000; outstanding 3,972,645 and 0	`PreferredStockValue`	$41.81K	USD	Point-in-time
Series A Preferred Stock - shares authorized 2,200,000; outstanding 208,704 and 0; Series B Preferred Stock - shares authorized 4,300,000; outstanding 3,972,645 and 0	`PreferredStockValue`	-	USD	Point-in-time
Common stock - shares authorized 500,000,000; outstanding 16,929,048 and 179,293	`CommonStockValue`	$16.93K	USD	Point-in-time
Common stock - shares authorized 500,000,000; outstanding 16,929,048 and 179,293	`CommonStockValue`	$179.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$784.37K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-971.82K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.29M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$417.61K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$363.68K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$514.06K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-187.27K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$603.44K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$536.40K	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Total Revenue	`GrossProfit`	-	USD	1 Quarter
Total Revenue	`GrossProfit`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$185.69K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$107.67K	USD	1 Quarter
Payroll expense	`LaborAndRelatedExpense`	$33.55K	USD	1 Quarter
Payroll expense	`LaborAndRelatedExpense`	$7.14K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$105.70K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$3.97K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$22.97K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.26K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-321.50K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-146.45K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-146.45K	USD	1 Quarter
LOSS PER SHARE - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.82	USD	1 Quarter
LOSS PER SHARE - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.89	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	179,110.00	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	359,715.00	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-146.45K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$29.46K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$40.03K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.79K	USD	1 Quarter
Accrued expense	`IncreaseDecreaseInAccruedLiabilities`	$89.19K	USD	1 Quarter
Accrued expense	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Payroll liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$7.26K	USD	1 Quarter
Payroll liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$7.49K	USD	1 Quarter
Net cash from operations	`NetCashProvidedByUsedInOperatingActivities`	$-140.98K	USD	1 Quarter
Net cash from operations	`NetCashProvidedByUsedInOperatingActivities`	$-155.33K	USD	1 Quarter
Common stock to be issued	`StockIssued1`	$754.70K	USD	1 Quarter
Common stock to be issued	`StockIssued1`	-	USD	1 Quarter
Common stock issued	`ProceedsFromIssuanceOfCommonStock`	$872.45K	USD	1 Quarter
Common stock issued	`ProceedsFromIssuanceOfCommonStock`	$50.00K	USD	1 Quarter
Net cash from financing	`NetCashProvidedByUsedInFinancingActivities`	$117.75K	USD	1 Quarter
Net cash from financing	`NetCashProvidedByUsedInFinancingActivities`	$50.00K	USD	1 Quarter
Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Goodwill	`PaymentsToAcquireOtherProductiveAssets`	$132.64K	USD	1 Quarter
Goodwill	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Net Cash from investing	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash from investing	`NetCashProvidedByUsedInInvestingActivities`	$-135.64K	USD	1 Quarter
Net increase (use) of cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-90.98K	USD	1 Quarter
Net increase (use) of cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-173.21K	USD	1 Quarter
Cash, beginning of period	`Cash`	$479.35K	USD	Point-in-time
Cash, beginning of period	`Cash`	$570.33K	USD	Point-in-time
Cash, beginning of period	`Cash`	$503.44K	USD	Point-in-time
Cash, beginning of period	`Cash`	$330.23K	USD	Point-in-time
Cash, end of period	`Cash`	$479.35K	USD	Point-in-time
Cash, end of period	`Cash`	$570.33K	USD	Point-in-time
Cash, end of period	`Cash`	$503.44K	USD	Point-in-time
Cash, end of period	`Cash`	$330.23K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Shares exchanged in acquisition	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Shares exchanged in acquisition	`StockIssuedDuringPeriodValueOther`	$117.75K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$417.61K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$363.68K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$514.06K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Issuance of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$50.00K	USD	1 Quarter
Issuance of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$684.70K	USD	1 Quarter
Shares Issued for Services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	1,570.00	shares	1 Quarter
Shares Issued for Services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	-	shares	1 Quarter
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	1 Quarter
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Share Exchange with Red Cat Propware, amount	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Share Exchange with Red Cat Propware, amount	`StockIssuedDuringPeriodValueOther`	$117.75K	USD	1 Quarter
Conversion of Preferred Stock Upon Reverse Stock Split, amount	`StockIssuedDuringPeriodValueReverseStockSplits`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-146.45K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$417.61K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$363.68K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$514.06K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-187.27K	USD	Point-in-time

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