10-Q Filing

Red Cat Holdings, Inc. CIK: 748268 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001554795-20-000248`
Period End Date	20200731
Filing Date	20200921
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	rcat-20200731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 26 Cash Flow Statement 46 Stockholders Equity 19

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$503.44K	USD	Point-in-time
Cash	`Cash`	$55.87K	USD	Point-in-time
Cash	`Cash`	$330.23K	USD	Point-in-time
Cash	`Cash`	$236.67K	USD	Point-in-time
Inventory	`InventoryNet`	$78.65K	USD	Point-in-time
Inventory	`InventoryNet`	$133.63K	USD	Point-in-time
Other	`OtherAssetsCurrent`	$3.02K	USD	Point-in-time
Other	`OtherAssetsCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$318.34K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$189.50K	USD	Point-in-time
Goodwill	`Goodwill`	$2.47M	USD	Point-in-time
Goodwill	`Goodwill`	$2.47M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	6.50M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	6.50M	shares	Point-in-time
Trademark	`IndefiniteLivedTrademarks`	$20.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.89M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.89M	shares	Point-in-time
Trademark	`IndefiniteLivedTrademarks`	$20.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.89M	shares	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.85K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.85K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.89M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$2.81M	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
TOTAL ASSETS	`Assets`	$2.68M	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`	20.01M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.01M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.01M	shares	Point-in-time
Accounts payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$249.05K	USD	Point-in-time
Accounts payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$295.30K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.01M	shares	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$99.78K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$89.34K	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	$118.77K	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	$171.28K	USD	Point-in-time
Due to Related Party	`DueToRelatedPartiesCurrent`	$333.68K	USD	Point-in-time
Due to Related Party	`DueToRelatedPartiesCurrent`	$333.20K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$77.05K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$38.42K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$829.27K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$976.62K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtNoncurrent`	$450.00K	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; Series B Preferred Stock - shares authorized 4,300,000; outstanding 3,681,623	`PreferredStockValue`	$38.90K	USD	Point-in-time
Series A Preferred Stock - shares authorized 2,200,000; outstanding 208,704; Series B Preferred Stock - shares authorized 4,300,000; outstanding 3,681,623	`PreferredStockValue`	$38.90K	USD	Point-in-time
Common stock - shares authorized 500,000,000; outstanding 20,011,091	`CommonStockValue`	$20.01K	USD	Point-in-time
Common stock - shares authorized 500,000,000; outstanding 20,011,091	`CommonStockValue`	$20.01K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.57M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.25M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.53M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$363.68K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.68M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.81M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$548.28K	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$446.13K	USD	1 Quarter
Gross Margin	`GrossProfit`	$102.15K	USD	1 Quarter
Gross Margin	`GrossProfit`	-	USD	1 Quarter
Operations	`OtherCostAndExpenseOperating`	-	USD	1 Quarter
Operations	`OtherCostAndExpenseOperating`	$89.03K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$185.69K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$97.25K	USD	1 Quarter
Sales and marketing	`MarketingAndAdvertisingExpense`	-	USD	1 Quarter
Sales and marketing	`MarketingAndAdvertisingExpense`	$24.14K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$274.97K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$135.81K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$485.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$321.50K	USD	1 Quarter
Operating loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-383.24K	USD	1 Quarter
Operating loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-321.50K	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`	$-383.24K	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.89	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.01M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	359,715.00	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-383.24K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$107.06K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-54.98K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.02K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$43.93K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$38.63K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.02K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$46.25K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$10.44K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$96.68K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-232.82K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-197.91K	USD	1 Quarter
Acquired through acquisition	`CashAcquiredFromAcquisition`	$24.70K	USD	1 Quarter
Acquired through acquisition	`CashAcquiredFromAcquisition`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$24.70K	USD	1 Quarter
Payments under related party obligations	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Payments under related party obligations	`RepaymentsOfRelatedPartyDebt`	$480.00	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$140.00K	USD	1 Quarter
Payments under notes payable	`RepaymentsOfNotesPayable`	$87.50K	USD	1 Quarter
Payments under notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$52.02K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net use of Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-180.80K	USD	1 Quarter
Net use of Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-173.21K	USD	1 Quarter
Cash, beginning of period	`Cash`	$503.44K	USD	Point-in-time
Cash, beginning of period	`Cash`	$55.87K	USD	Point-in-time
Cash, beginning of period	`Cash`	$330.23K	USD	Point-in-time
Cash, beginning of period	`Cash`	$236.67K	USD	Point-in-time
Cash, end of period	`Cash`	$503.44K	USD	Point-in-time
Cash, end of period	`Cash`	$55.87K	USD	Point-in-time
Cash, end of period	`Cash`	$330.23K	USD	Point-in-time
Cash, end of period	`Cash`	$236.67K	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	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$70.00K	USD	1 Quarter
Fair value of shares exchanged in acquisitions	`StockIssued1`	$117.75K	USD	1 Quarter
Fair value of shares exchanged in acquisitions	`StockIssued1`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$1.25M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$1.53M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$363.68K	USD	Point-in-time
Issuance of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$684.70K	USD	1 Quarter
Share Exchange Agreement, amount	`StockIssuedDuringPeriodValueOther`	$117.75K	USD	1 Quarter
Conversion of Preferred Stock, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$107.06K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Shares Issued for Services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	1,570.00	shares	Point-in-time
Shares Issued for Services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	150,000.00	shares	Point-in-time
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$204.00K	USD	Point-in-time
Shares Issued for Services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$70.00K	USD	Point-in-time
Net Loss	`NetIncomeLoss`	$-321.50K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-383.24K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$-187.27K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$1.25M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$1.53M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$363.68K	USD	Point-in-time

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