10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-001542`
Period End Date	20161231
Filing Date	20170214
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	msn-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 64 Cash Flow Statement 52

Balance Sheet 70 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
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.61M	USD	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`	$20.16M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$10.27M	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$775.00K	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$2.80M	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$1.29M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$150.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.11M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$2.06M	USD	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$2.67M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$871.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.85M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$175.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$556.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.23M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$58.33M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$57.84M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$29.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$21.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.01M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$131.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$132.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.17M	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.56M	USD	Point-in-time
Total Assets	`Assets`	$59.01M	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`	$1.07M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$512.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$165.00K	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`	$1.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.66M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.24M	USD	Point-in-time
Series A Preferred shares 10,000,000 shares authorized; 3,677 shares issued and outstanding at December 31, 2016 and March 31, 2016 respectively; liquidation preference of $3,677,000 at December 31, 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 December 31, 2016 and March 31, 2016 respectively; liquidation preference of $3,677,000 at December 31, 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 December 31, 2016 and March 31, 2016, respectively; 27,111,232 and 27,129,832 shares outstanding at December 31, 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 December 31, 2016 and March 31, 2016, respectively; 27,111,232 and 27,129,832 shares outstanding at December 31, 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`	$-1.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.18M	USD	Point-in-time
Treasury stock, at cost (25,854,565 and 25,835,965 shares at December 31, 2016 and March 31, 2016, respectively)	`TreasuryStockValue`	$24.22M	USD	Point-in-time
Treasury stock, at cost (25,854,565 and 25,835,965 shares at December 31, 2016 and March 31, 2016, respectively)	`TreasuryStockValue`	$24.24M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$57.23M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$57.77M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$59.01M	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`	$3.76M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$7.99M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$34.06M	USD	3 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$14.08M	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$3.55M	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$1.16M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.17M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$3.52M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$17.60M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$4.93M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$9.15M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$37.61M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$7.49M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$12.92M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$32.04M	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$301.00K	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$60.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$23.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$200.00K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.88M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.65M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.05M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$4.58M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.20M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$17.00M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$38.40M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$595.00K	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-50.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-788.00K	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$352.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$121.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$162.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$54.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$43.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$406.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$757.00K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-667.00K	USD	3 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-12.00K	USD	3 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$59.00K	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$198.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-66.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-655.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$559.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$448.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.02	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-66.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-655.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$559.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$448.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$41.00K	USD	3 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.98M	USD	3 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.20M	USD	3 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-2.23M	USD	3 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.14M	USD	3 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-512.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$155.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$610.00K	USD	3 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-696.00K	USD	3 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-1.81M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-119.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.68M	USD	3 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$387.00K	USD	3 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$393.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$25.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-618.00K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-487.00K	USD	3 Qtrs
Long term liabilities	`IncreaseDecreaseInNoncurrentLiabilities`	$12.00K	USD	3 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$173.00K	USD	3 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$744.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-290.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-273.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.24M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.11M	USD	3 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-9.89M	USD	3 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$20.11M	USD	3 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	3 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-20.11M	USD	3 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$10.38M	USD	3 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$18.00K	USD	3 Qtrs
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-18.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.87M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.48M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.57M	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`	$27.61M	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`	$41.57M	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`	$27.61M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	$2.00K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.52M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$4.00K	USD	3 Qtrs

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