10-K Filing

EMERSON RADIO CORP CIK: 32621 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001564590-18-016376`
Period End Date	20180331
Filing Date	20180628
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	msn-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 53 Stockholders Equity 14

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.10M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	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`	$16.00M	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`	$1.88M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.21M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$99.00K	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
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.16M	USD	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$838.00K	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
Common shares, shares outstanding	`CommonStockSharesOutstanding`	22.80M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.07M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$360.00K	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$750.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.90M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	30.17M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$497.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.49M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.94M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$47.06M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$14.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$528.00K	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`	$151.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$693.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$910.00K	USD	Point-in-time
Total Assets	`Assets`	$47.76M	USD	Point-in-time
Total Assets	`Assets`	$57.85M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$803.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$756.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$250.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$165.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$50.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$921.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
Federal tax payable	`TaxesPayableNoncurrent`	$2.87M	USD	Point-in-time
Total Non-current Liabilities	`LiabilitiesNoncurrent`	$2.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.97M	USD	Point-in-time
Total Liabilities	`Liabilities`	$921.00K	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, 2018 and March 31, 2017, respectively; 22,799,088 and 27,065,852 shares outstanding at March 31, 2018 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 March 31, 2018 and March 31, 2017, respectively; 22,799,088 and 27,065,852 shares outstanding at March 31, 2018 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`	$-9.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.41M	USD	Point-in-time
Treasury stock, at cost (30,166,709 and 25,899,945 shares at March 31, 2018 and March 31, 2017, respectively)	`TreasuryStockValue`	$30.58M	USD	Point-in-time
Treasury stock, at cost (30,166,709 and 25,899,945 shares at March 31, 2018 and March 31, 2017, respectively)	`TreasuryStockValue`	$24.29M	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 Shareholders Equity	`StockholdersEquity`	$43.78M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$47.76M	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`	$14.36M	USD	Annual
Net product sales	`SalesRevenueGoodsNet`	$17.64M	USD	Annual
Licensing revenue	`LicensesRevenue`	$659.00K	USD	Annual
Licensing revenue	`LicensesRevenue`	$3.62M	USD	Annual
Net revenues	`SalesRevenueNet`	$21.25M	USD	Annual
Net revenues	`SalesRevenueNet`	$15.02M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$16.28M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$13.92M	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$60.00K	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$199.00K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.10M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.92M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$18.90M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$21.58M	USD	Annual
Operating (loss)	`OperatingIncomeLoss`	$-326.00K	USD	Annual
Operating (loss)	`OperatingIncomeLoss`	$-3.88M	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$492.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$261.00K	USD	Annual
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-65.00K	USD	Annual
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.39M	USD	Annual
Provision for income tax expense	`IncomeTaxExpenseBenefit`	$172.00K	USD	Annual
Provision for income tax expense	`IncomeTaxExpenseBenefit`	$3.46M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-237.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-6.85M	USD	Annual
Basic (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Basic (loss) per share	`EarningsPerShareBasic`	$-0.27	USD	Annual
Diluted (loss) per share	`EarningsPerShareDiluted`	$-0.27	USD	Annual
Diluted (loss) per share	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	25.28M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.11M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.11M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.28M	shares	Annual

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-237.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-6.85M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.00K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$263.00K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$610.00K	USD	Annual
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$554.00K	USD	Annual
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$166.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$510.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.15M	USD	Annual
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-36.00K	USD	Annual
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-1.19M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$2.33M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.22M	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-121.00K	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-390.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-997.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$938.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$50.00K	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`	$47.00K	USD	Annual
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-512.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$50.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-290.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$2.96M	USD	Annual
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.16M	USD	Annual
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.87M	USD	Annual
Proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$70.14M	USD	Annual
Proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$33.21M	USD	Annual
Purchases of short term investments	`PaymentsToAcquireShortTermInvestments`	$61.06M	USD	Annual
Purchases of short term investments	`PaymentsToAcquireShortTermInvestments`	$38.13M	USD	Annual
Proceeds from restricted cash	`IncreaseDecreaseInRestrictedCash`	$-500.00K	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	Annual
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$9.07M	USD	Annual
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.43M	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$6.29M	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$66.00K	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-66.00K	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.29M	USD	Annual
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.62M	USD	Annual
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.38M	USD	Annual
Cash and cash equivalents at beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.10M	USD	Point-in-time
Cash and cash equivalents at beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.47M	USD	Point-in-time
Cash and cash equivalents at beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.10M	USD	Point-in-time
Cash and cash equivalents at end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.10M	USD	Point-in-time
Cash and cash equivalents at end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.47M	USD	Point-in-time
Cash and cash equivalents at end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.10M	USD	Point-in-time
Interest	`InterestPaidNet`	$2.00K	USD	Annual
Interest	`InterestPaidNet`	$4.00K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	$1.52M	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	$320.00K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$57.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$56.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$43.78M	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`	$6.29M	USD	Annual
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$66.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-237.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-6.85M	USD	Annual
Balance	`StockholdersEquity`	$57.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$56.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$43.78M	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.