10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-002113`
Period End Date	20171231
Filing Date	20180215
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	msn-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 64 Cash Flow Statement 54

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
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.82M	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
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$22.23M	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
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`	$1.59M	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
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$63.00K	USD	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`	$3.07M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$1.45M	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	23.90M	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`	29.06M	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`	$576.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$49.80M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.94M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$16.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$791.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$569.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$101.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$172.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$757.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$910.00K	USD	Point-in-time
Total Assets	`Assets`	$57.85M	USD	Point-in-time
Total Assets	`Assets`	$50.56M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$756.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$165.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$295.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.38M	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`	$1.38M	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 December 31, 2017 and March 31, 2017, respectively; 23,903,444 and 27,065,852 shares outstanding at December 31, 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 December 31, 2017 and March 31, 2017, respectively; 23,903,444 and 27,065,852 shares outstanding at December 31, 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`	$-5.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.41M	USD	Point-in-time
Treasury stock, at cost (29,062,353 and 25,899,945 shares at December 31, 2017 and March 31, 2017, respectively)	`TreasuryStockValue`	$28.93M	USD	Point-in-time
Treasury stock, at cost (29,062,353 and 25,899,945 shares at December 31, 2017 and March 31, 2017, respectively)	`TreasuryStockValue`	$24.29M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$56.93M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$49.18M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.85M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$50.56M	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`	$14.08M	USD	3 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$10.41M	USD	3 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$4.08M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$546.00K	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$3.52M	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$1.17M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$161.00K	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$17.60M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$10.96M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$4.93M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$4.24M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$4.05M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$12.92M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$3.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$10.29M	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$23.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$38.00K	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$200.00K	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$14.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.10M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.78M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.88M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$14.11M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$17.00M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.16M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.58M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-924.00K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$352.00K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-3.15M	USD	3 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$595.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$162.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$365.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$54.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$131.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	3 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-793.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$757.00K	USD	3 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$406.00K	USD	1 Quarter
Provision (Benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$378.00K	USD	1 Quarter
Provision (Benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$313.00K	USD	3 Qtrs
Provision (Benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$198.00K	USD	3 Qtrs
Provision (Benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$559.00K	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$-3.10M	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$448.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Basic net (loss) income per share	`EarningsPerShareBasic`	$-0.12	USD	3 Qtrs
Basic net (loss) income per share	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic net (loss) income per share	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Basic net (loss) income per share	`EarningsPerShareBasic`	$0.02	USD	3 Qtrs
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$0.02	USD	3 Qtrs
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$-0.12	USD	3 Qtrs
Diluted net (loss) income per share	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	25.86M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.86M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$559.00K	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$-3.10M	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$448.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.00K	USD	3 Qtrs
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$387.00K	USD	3 Qtrs
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$222.00K	USD	3 Qtrs
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$173.00K	USD	3 Qtrs
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$-14.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.20M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$398.00K	USD	3 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-36.00K	USD	3 Qtrs
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.14M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$610.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.23M	USD	3 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-696.00K	USD	3 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$701.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.68M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-918.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$71.00K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-618.00K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$331.00K	USD	3 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-512.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-290.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$130.00K	USD	3 Qtrs
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.11M	USD	3 Qtrs
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.85M	USD	3 Qtrs
Net proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$9.89M	USD	3 Qtrs
Net proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$2.85M	USD	3 Qtrs
Proceeds from restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.84M	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$10.38M	USD	3 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$4.64M	USD	3 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$18.00K	USD	3 Qtrs
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.64M	USD	3 Qtrs
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-18.00K	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.48M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.65M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.82M	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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.82M	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
Interest	`InterestPaid`	$2.00K	USD	3 Qtrs
Interest	`InterestPaid`	$3.00K	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.