10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-017667`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	msn-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 49

Balance Sheet 68 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`	$27.47M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$80.00K	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
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.21M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.50M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$161.00K	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 authorized	`CommonStockSharesAuthorized`	75.00M	shares	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
Inventory	`InventoryFinishedGoodsNetOfReserves`	$838.00K	USD	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$4.42M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$145.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.05M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.07M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$750.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.92M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$581.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.31M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.94M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$20.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$812.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$791.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$101.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$101.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$933.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$910.00K	USD	Point-in-time
Total Assets	`Assets`	$57.24M	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`	$1.07M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$165.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$166.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$921.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.23M	USD	Point-in-time
Total Liabilities	`Liabilities`	$921.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.23M	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 June 30, 2017 and March 31, 2017, respectively; 27,046,719 and 27,065,852 shares outstanding at June 30, 2017 and March 31, 2017, 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 June 30, 2017 and March 31, 2017, respectively; 27,046,719 and 27,065,852 shares outstanding at June 30, 2017 and March 31, 2017, 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`	$-3.30M	USD	Point-in-time
Treasury stock, at cost (25,919,078 and 25,899,945 shares at June 30, 2017 and March 31, 2017, respectively)	`TreasuryStockValue`	$24.29M	USD	Point-in-time
Treasury stock, at cost (25,919,078 and 25,899,945 shares at June 30, 2017 and March 31, 2017, respectively)	`TreasuryStockValue`	$24.32M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$56.01M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$56.93M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.24M	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`	$5.47M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$2.78M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.16M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$224.00K	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$3.00M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$6.63M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.77M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$5.10M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$7.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$133.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.49M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.06M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.72M	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-1.06M	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-84.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$51.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$104.00K	USD	1 Quarter
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-33.00K	USD	1 Quarter
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-955.00K	USD	1 Quarter
(Benefit) provision for income tax expense	`IncomeTaxExpenseBenefit`	$-65.00K	USD	1 Quarter
(Benefit) provision for income tax expense	`IncomeTaxExpenseBenefit`	$21.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-890.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-54.00K	USD	1 Quarter
Basic net (loss) per share	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic net (loss) per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted net (loss) per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted net (loss) per share	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.06M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-890.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-54.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$18.00K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$-21.00K	USD	1 Quarter
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$46.00K	USD	1 Quarter
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$86.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$208.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.39M	USD	1 Quarter
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$62.00K	USD	1 Quarter
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.07M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.78M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.58M	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$72.00K	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-605.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$49.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-913.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$289.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$310.00K	USD	1 Quarter
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-512.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.88M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$1.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$1.00K	USD	1 Quarter
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.01M	USD	1 Quarter
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.13M	USD	1 Quarter
Net proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$10.00M	USD	1 Quarter
Net proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$25.00M	USD	1 Quarter
Proceeds from restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$10.50M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$24.99M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$26.00K	USD	1 Quarter
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-26.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.63M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.95M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Interest	`InterestPaid`	$3.00K	USD	1 Quarter
Interest	`InterestPaid`	$2.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$4.00K	USD	1 Quarter

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