10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023789`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	msn-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 63 Cash Flow Statement 51

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`	$21.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.02M	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`	$27.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$23.18M	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
Short term investments	`ShortTermInvestments`	$25.08M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.21M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.78M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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`	$63.00K	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 issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$838.00K	USD	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.42M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$750.00K	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$366.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	24.57M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.07M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	28.39M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.49M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$830.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.90M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.94M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$51.56M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$815.00K	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`	$934.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$910.00K	USD	Point-in-time
Total Assets	`Assets`	$52.49M	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`	$981.00K	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`	$1.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$921.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.15M	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 September 30, 2017 and March 31, 2017, respectively; 24,572,801 and 27,065,852 shares outstanding at September 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 September 30, 2017 and March 31, 2017, respectively; 24,572,801 and 27,065,852 shares outstanding at September 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`	$-4.35M	USD	Point-in-time
Treasury stock, at cost (28,392,996 and 25,899,945 shares at September 30, 2017 and March 31, 2017, respectively)	`TreasuryStockValue`	$24.29M	USD	Point-in-time
Treasury stock, at cost (28,392,996 and 25,899,945 shares at September 30, 2017 and March 31, 2017, respectively)	`TreasuryStockValue`	$27.94M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$56.93M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$51.34M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.85M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$52.49M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$3.56M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$10.31M	USD	2 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$4.84M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$6.34M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$161.00K	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$2.35M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$385.00K	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$1.19M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$6.72M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$3.72M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$12.66M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$6.03M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$9.56M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$3.48M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$6.25M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$4.46M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$177.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$24.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$17.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$44.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.68M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.68M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.70M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.89M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$12.42M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$8.95M	USD	2 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$327.00K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$243.00K	USD	2 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$-2.23M	USD	2 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$-1.17M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$57.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$234.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$108.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$130.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$384.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.04M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.00M	USD	2 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$351.00K	USD	2 Qtrs
(Benefit) provision for income tax expense	`IncomeTaxExpenseBenefit`	$240.00K	USD	2 Qtrs
(Benefit) provision for income tax expense	`IncomeTaxExpenseBenefit`	$-65.00K	USD	2 Qtrs
(Benefit) provision for income tax expense	`IncomeTaxExpenseBenefit`	$219.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$165.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$111.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.93M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Basic net (loss) income per share	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic net (loss) income per share	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic net (loss) income per share	`EarningsPerShareBasic`	$-0.07	USD	2 Qtrs
Basic net (loss) income per share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Diluted net (loss) income per share	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$-0.07	USD	2 Qtrs
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.22M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.64M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.64M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.22M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$165.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$111.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.93M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.00K	USD	2 Qtrs
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$82.00K	USD	2 Qtrs
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$-24.00K	USD	2 Qtrs
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$90.00K	USD	2 Qtrs
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$57.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$513.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.02M	USD	2 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.04M	USD	2 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-36.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.58M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.83M	USD	2 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-355.00K	USD	2 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-384.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-664.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$244.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-573.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$225.00K	USD	2 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-512.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$938.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$35.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$1.00K	USD	2 Qtrs
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.79M	USD	2 Qtrs
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.34M	USD	2 Qtrs
Net proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$1.90M	USD	2 Qtrs
Net proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$7.09M	USD	2 Qtrs
Proceeds from restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$7.59M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$1.90M	USD	2 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$3.65M	USD	2 Qtrs
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.65M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.93M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.54M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.93M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	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`	$21.93M	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`	$27.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.10M	USD	Point-in-time
Interest	`InterestPaid`	$2.00K	USD	2 Qtrs
Interest	`InterestPaid`	$5.00K	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.