10-K Filing

EMERSON RADIO CORP CIK: 32621 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001564590-17-012978`
Period End Date	20170331
Filing Date	20170626
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	msn-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 49 Stockholders Equity 13

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	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`	$30.10M	USD	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
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$500.00K	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$25.08M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$20.16M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$1.21M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$2.80M	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
Royalty receivable	`RoyaltiesReceivables`	$1.29M	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$99.00K	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$2.06M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$838.00K	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$871.00K	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$750.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.07M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.49M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.90M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$556.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.94M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$58.33M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$29.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$791.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$1.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$132.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$101.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.56M	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$910.00K	USD	Point-in-time
Total Assets	`Assets`	$59.89M	USD	Point-in-time
Total Assets	`Assets`	$57.85M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$756.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.69M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$512.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$455.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$165.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.66M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$921.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$921.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.66M	USD	Point-in-time
Series A Preferred shares 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000	`PreferredStockValue`	$3.31M	USD	Point-in-time
Series A Preferred shares 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000	`PreferredStockValue`	$3.31M	USD	Point-in-time
Common shares $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at March 31, 2017 and March 31, 2016, respectively; 27,065,852 and 27,129,832 shares outstanding at March 31, 2017 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 March 31, 2017 and March 31, 2016, respectively; 27,065,852 and 27,129,832 shares outstanding at March 31, 2017 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`	$-2.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.18M	USD	Point-in-time
Treasury stock, at cost (25,899,945 and 25,835,965 shares at March 31, 2017 and March 31, 2016, respectively)	`TreasuryStockValue`	$24.29M	USD	Point-in-time
Treasury stock, at cost (25,899,945 and 25,835,965 shares at March 31, 2017 and March 31, 2016, respectively)	`TreasuryStockValue`	$24.22M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$58.20M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$57.23M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$56.93M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$59.89M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.85M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$41.03M	USD	Annual
Net product sales	`SalesRevenueGoodsNet`	$17.64M	USD	Annual
Licensing revenue	`LicensesRevenue`	$3.62M	USD	Annual
Licensing revenue	`LicensesRevenue`	$4.72M	USD	Annual
Net revenues	`SalesRevenueNet`	$21.25M	USD	Annual
Net revenues	`SalesRevenueNet`	$45.75M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$38.82M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$16.28M	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$199.00K	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$367.00K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.97M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.10M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$47.16M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$21.58M	USD	Annual
Operating (loss)	`OperatingIncomeLoss`	$-1.41M	USD	Annual
Operating (loss)	`OperatingIncomeLoss`	$-326.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$261.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$178.00K	USD	Annual
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-65.00K	USD	Annual
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.23M	USD	Annual
Provision (benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$172.00K	USD	Annual
Provision (benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$-259.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-968.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-237.00K	USD	Annual
Basic net (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Basic net (loss) per share	`EarningsPerShareBasic`	$-0.04	USD	Annual
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-0.04	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.11M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.11M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	Annual

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-968.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-237.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.00K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$610.00K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$619.00K	USD	Annual
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$760.00K	USD	Annual
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$554.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.23M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.15M	USD	Annual
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.19M	USD	Annual
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-2.23M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.22M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-2.46M	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-2.09M	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-121.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-146.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$938.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$30.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-31.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-935.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-446.00K	USD	Annual
Long term liabilities	`IncreaseDecreaseInNoncurrentLiabilities`	$-481.00K	USD	Annual
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$12.00K	USD	Annual
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-512.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-290.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-392.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.87M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.77M	USD	Annual
Net purchase of short term investment	`PaymentsToAcquireShortTermInvestments`	$20.16M	USD	Annual
Net purchase of short term investment	`PaymentsToAcquireShortTermInvestments`	$4.92M	USD	Annual
Proceeds from restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	Annual
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-20.16M	USD	Annual
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.43M	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$66.00K	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-66.00K	USD	Annual
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.39M	USD	Annual
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.62M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$43.48M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	Annual
Interest	`InterestPaid`	$2.00K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$292.00K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.52M	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$58.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$57.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$56.93M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$66.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-968.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-237.00K	USD	Annual
Balance	`StockholdersEquity`	$58.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$57.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$56.93M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	52.97M	shares	Point-in-time

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