10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-028664`
Period End Date	20160930
Filing Date	20161109
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	msn-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 64 Cash Flow Statement 50

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.32M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$500.00K	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$13.06M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$20.16M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$2.80M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$870.00K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$1.29M	USD	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$248.00K	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryNet`	$2.06M	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Inventory	`InventoryNet`	$3.89M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$516.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$871.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$800.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$556.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$58.33M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$58.41M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$29.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.32M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$132.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$132.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.56M	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.48M	USD	Point-in-time
Total Assets	`Assets`	$59.89M	USD	Point-in-time
Total Assets	`Assets`	$59.89M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.69M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.12M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$938.00K	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$512.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$490.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$455.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.66M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.55M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.66M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.55M	USD	Point-in-time
Series A Preferred shares 10,000,000 shares authorized; 3,677 shares issued and outstanding at September 30, 2016 and March 31, 2016 respectively; liquidation preference of $3,677,000 at September 30, 2016 and March 31, 2016, respectively	`PreferredStockValue`	$3.31M	USD	Point-in-time
Series A Preferred shares 10,000,000 shares authorized; 3,677 shares issued and outstanding at September 30, 2016 and March 31, 2016 respectively; liquidation preference of $3,677,000 at September 30, 2016 and March 31, 2016, respectively	`PreferredStockValue`	$3.31M	USD	Point-in-time
Common shares $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at September 30, 2016 and March 31, 2016, respectively; 27,129,832 shares outstanding at September 30, 2016 and March 31, 2016, respectively	`CommonStockValue`	$529.00K	USD	Point-in-time
Common shares $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at September 30, 2016 and March 31, 2016, respectively; 27,129,832 shares outstanding at September 30, 2016 and March 31, 2016, respectively	`CommonStockValue`	$529.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$79.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$79.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.07M	USD	Point-in-time
Treasury stock, at cost (25,835,965 shares)	`TreasuryStockValue`	$24.22M	USD	Point-in-time
Treasury stock, at cost (25,835,965 shares)	`TreasuryStockValue`	$24.22M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$57.34M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$57.23M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$59.89M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$59.89M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$10.31M	USD	2 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$7.78M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$4.84M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$26.07M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$1.19M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$2.39M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$1.16M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$2.35M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$8.94M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$6.03M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$28.45M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$12.66M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$9.56M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$4.46M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$7.55M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$24.55M	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$167.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$177.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$241.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$44.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.40M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.68M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.08M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.79M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$5.70M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$29.19M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$12.42M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$327.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$243.00K	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-738.00K	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-851.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$39.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$78.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$108.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$57.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-812.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$384.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-660.00K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$351.00K	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-71.00K	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$219.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-102.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$240.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-589.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-710.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$111.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$165.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-589.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-710.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$111.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$165.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.00K	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.31M	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.02M	USD	2 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-2.22M	USD	2 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.04M	USD	2 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$512.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.83M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$67.00K	USD	2 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-1.62M	USD	2 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-355.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$244.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-74.00K	USD	2 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$-162.00K	USD	2 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$82.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$25.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$495.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-573.00K	USD	2 Qtrs
Long term liabilities	`IncreaseDecreaseInNoncurrentLiabilities`	$84.00K	USD	2 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$242.00K	USD	2 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$90.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$938.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$35.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$160.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.92M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.34M	USD	2 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-7.09M	USD	2 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$10.09M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	2 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.09M	USD	2 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$7.59M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.17M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.93M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.32M	USD	Point-in-time
Interest	`InterestPaid`	$2.00K	USD	2 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$8.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$4.00K	USD	2 Qtrs

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