10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-021691`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	msn-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 28 Cash Flow Statement 46

Balance Sheet 71 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`	$23.26M	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
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Short term investments	`ShortTermInvestments`	$16.00M	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`	$17.09M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.88M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$956.00K	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`	$63.00K	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.84M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.16M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$360.00K	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$205.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	22.54M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	22.80M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$497.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$484.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	30.42M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	30.17M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$47.06M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$45.89M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$14.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$485.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$528.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$158.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$151.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$654.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$693.00K	USD	Point-in-time
Total Assets	`Assets`	$46.55M	USD	Point-in-time
Total Assets	`Assets`	$47.76M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$803.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$873.00K	USD	Point-in-time
Income tax payable, current portion	`AccruedIncomeTaxesCurrent`	$250.00K	USD	Point-in-time
Income tax payable, current portion	`AccruedIncomeTaxesCurrent`	$250.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$50.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.12M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$2.87M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$2.87M	USD	Point-in-time
Total Non-current Liabilities	`LiabilitiesNoncurrent`	$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`	$3.99M	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, 2018 and March 31, 2018, respectively; 22,543,626 and 22,799,088 shares outstanding at June 30, 2018 and March 31, 2018, 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, 2018 and March 31, 2018, respectively; 22,543,626 and 22,799,088 shares outstanding at June 30, 2018 and March 31, 2018, 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`	$-10.12M	USD	Point-in-time
Treasury stock, at cost (30,422,171 and 30,166,709 shares at June 30, 2018 and March 31, 2018, respectively)	`TreasuryStockValue`	$30.96M	USD	Point-in-time
Treasury stock, at cost (30,422,171 and 30,166,709 shares at June 30, 2018 and March 31, 2018, respectively)	`TreasuryStockValue`	$30.58M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$42.55M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$43.78M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$46.55M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$47.76M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.00M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.26M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.77M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.21M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$12.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$7.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.02M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.06M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.24M	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-1.06M	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-977.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$104.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$175.00K	USD	1 Quarter
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-802.00K	USD	1 Quarter
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-955.00K	USD	1 Quarter
Provision (benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$48.00K	USD	1 Quarter
Provision (benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$-65.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-890.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-850.00K	USD	1 Quarter
Basic (loss) per share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic (loss) per share	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted (loss) per share	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (loss) per share	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.62M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.62M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-890.00K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-850.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.00K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$43.00K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$-21.00K	USD	1 Quarter
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$149.00K	USD	1 Quarter
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$86.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$208.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.08M	USD	1 Quarter
Royalty receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$62.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$679.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.58M	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-605.00K	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-155.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-913.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$310.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$70.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-50.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$1.00K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-375.00K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.01M	USD	1 Quarter
Proceeds from sale of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$25.00M	USD	1 Quarter
Purchases of short term investments	`PaymentsToAcquireShortTermInvestments`	$1.08M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Disposals to property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	1 Quarter
Net cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$24.99M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$26.00K	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$380.00K	USD	1 Quarter
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.00K	USD	1 Quarter
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-380.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$21.95M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.84M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$49.42M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.26M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.47M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.10M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$49.42M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.26M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.47M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.10M	USD	Point-in-time
Interest	`InterestPaidNet`	$3.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$3.00K	USD	1 Quarter

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