10-Q Filing

Red Cat Holdings, Inc. CIK: 748268 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001554795-20-000070`
Period End Date	20200131
Filing Date	20200323
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	rcat-20200131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 48 Cash Flow Statement 59 Stockholders Equity 43

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$442.86K	USD	Point-in-time
Cash	`Cash`	$503.44K	USD	Point-in-time
Cash	`Cash`	$570.33K	USD	Point-in-time
Cash	`Cash`	$402.16K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$28.50K	USD	Point-in-time
Inventory	`InventoryNet`	$123.31K	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.33K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$100.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	6.50M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$603.44K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	6.50M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$617.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Goodwill	`Goodwill`	$2.47M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.89M	shares	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Trademark	`IndefiniteLivedTrademarks`	-	USD	Point-in-time
Trademark	`IndefiniteLivedTrademarks`	$20.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.89M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.85K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.11M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$603.44K	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`	179,292.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.86M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.86M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	179,292.00	shares	Point-in-time
Accounts payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$20.89K	USD	Point-in-time
Accounts payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$219.13K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$15.12K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$43.07K	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	$211.61K	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	-	USD	Point-in-time
Due to Related Party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Due to Related Party	`DueToRelatedPartiesCurrent`	$343.12K	USD	Point-in-time
Common shares to be issued	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Common shares to be issued	`CommonStockSharesSubscriptions`	$754.70K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$816.93K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$790.71K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Convertible debentures	`ConvertibleDebtNoncurrent`	$450.00K	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 3,681,623 and 0	`PreferredStockValue`	-	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 3,681,623 and 0	`PreferredStockValue`	$38.90K	USD	Point-in-time
Common stock - shares authorized 500,000,000; outstanding 19,861,091 and 179,292	`CommonStockValue`	$19.86K	USD	Point-in-time
Common stock - shares authorized 500,000,000; outstanding 19,861,091 and 179,292	`CommonStockValue`	$179.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$784.37K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-971.82K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$259.73K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$159.63K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.84M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$514.06K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$363.68K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$417.61K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-67.32K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$603.44K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.11M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	$34.54K	USD	3 Qtrs
Revenues	`Revenues`	$34.54K	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.23K	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.23K	USD	1 Quarter
Gross Margin	`GrossProfit`	-	USD	3 Qtrs
Gross Margin	`GrossProfit`	$18.30K	USD	1 Quarter
Gross Margin	`GrossProfit`	-	USD	1 Quarter
Gross Margin	`GrossProfit`	$18.30K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$138.47K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$400.88K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$107.25K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$258.64K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$372.75K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$318.46K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$219.81K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$593.66K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$327.05K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$994.55K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$631.38K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$456.92K	USD	1 Quarter
Operating loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-327.05K	USD	1 Quarter
Operating loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-976.24K	USD	3 Qtrs
Operating loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-438.62K	USD	1 Quarter
Operating loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-631.38K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-216.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-157.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-631.38K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-976.24K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-146.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-438.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-327.05K	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$3.56	USD	3 Qtrs
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$1.82	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.08	USD	3 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.56M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	179,293.00	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.73M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	177,440.00	shares	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-216.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-157.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-631.38K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-976.24K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-146.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-438.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-327.05K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$12.07K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$161.53K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$149.46K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	-	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$182.00	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$4.11K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$77.67K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$38.15K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.79K	USD	3 Qtrs
Accrued expense	`IncreaseDecreaseInAccruedLiabilities`	-	USD	3 Qtrs
Accrued expense	`IncreaseDecreaseInAccruedLiabilities`	$-10.05K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-637.17K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-704.65K	USD	3 Qtrs
Acquired through acquisition	`AcquiredThroughAcquisition`	$46.33K	USD	3 Qtrs
Acquired through acquisition	`AcquiredThroughAcquisition`	-	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$46.33K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$469.00K	USD	3 Qtrs
Proceeds from exercise of Warrants	`ProceedsFromWarrantExercises`	$152.24K	USD	1 Quarter
Proceeds from exercise of Warrants	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Proceeds from exercise of Warrants	`ProceedsFromWarrantExercises`	$152.24K	USD	3 Qtrs
Proceeds from convertible debentures	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Proceeds from convertible debentures	`ProceedsFromConvertibleDebt`	$450.00K	USD	3 Qtrs
Payments under notes payable	`RepaymentsOfNotesPayable`	-	USD	3 Qtrs
Payments under notes payable	`RepaymentsOfNotesPayable`	$4.49K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$597.75K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$469.00K	USD	3 Qtrs
Net use of Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-60.58K	USD	3 Qtrs
Net use of Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-168.17K	USD	3 Qtrs
Cash, beginning of period	`Cash`	$442.86K	USD	Point-in-time
Cash, beginning of period	`Cash`	$503.44K	USD	Point-in-time
Cash, beginning of period	`Cash`	$570.33K	USD	Point-in-time
Cash, beginning of period	`Cash`	$402.16K	USD	Point-in-time
Cash, end of period	`Cash`	$442.86K	USD	Point-in-time
Cash, end of period	`Cash`	$503.44K	USD	Point-in-time
Cash, end of period	`Cash`	$570.33K	USD	Point-in-time
Cash, end of period	`Cash`	$402.16K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	3 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	3 Qtrs
Fair value of shares exchanged in acquisitions	`StockIssuedDuringPeriodValueOther`	-	USD	3 Qtrs
Fair value of shares exchanged in acquisitions	`StockIssuedDuringPeriodValueOther`	$117.75K	USD	1 Quarter
Fair value of shares exchanged in acquisitions	`StockIssuedDuringPeriodValueOther`	$1.94M	USD	3 Qtrs

Stockholders Equity 43 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$259.73K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$159.63K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$1.84M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$514.06K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$363.68K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$417.61K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-67.32K	USD	Point-in-time
Issuance of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$684.70K	USD	1 Quarter
Issuance of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$50.00K	USD	1 Quarter
Shares Issued for Services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	1,570.00	shares	3 Qtrs
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	1 Quarter
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	3 Qtrs
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	3 Qtrs
Share Exchange Agreement, amount	`StockIssuedDuringPeriodValueOther`	-	USD	3 Qtrs
Share Exchange Agreement, amount	`StockIssuedDuringPeriodValueOther`	$117.75K	USD	1 Quarter
Share Exchange Agreement, amount	`StockIssuedDuringPeriodValueOther`	$1.94M	USD	3 Qtrs
Conversion of Preferred Stock and Reverse Stock Split, amount	`StockIssuedDuringPeriodValueReverseStockSplits`	-	USD	1 Quarter
Exercise of warrants, amount	`ProceedsFromWarrantExercises`	$152.24K	USD	1 Quarter
Exercise of warrants, amount	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Exercise of warrants, amount	`ProceedsFromWarrantExercises`	$152.24K	USD	3 Qtrs
Conversion of Preferred Stock, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Merger with Rotor Riot, amount	`StockIssuedDuringPeriodValueMerger`	$1.82M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$12.07K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$161.53K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$149.46K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-216.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-157.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-631.38K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-976.24K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-146.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-438.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-327.05K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$259.73K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$159.63K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$1.84M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$514.06K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$363.68K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$417.61K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-67.32K	USD	Point-in-time

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