10-Q Filing

Stabilis Solutions, Inc. CIK: 1043186 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-019825`
Period End Date	20190331
Filing Date	20190520
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	aeti-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 45 Cash Flow Statement 46 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$627.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.29M	USD	Point-in-time
Accounts receivable-trade, net	`AccountsReceivableNetCurrent`	$725.00K	USD	Point-in-time
Accounts receivable-trade, net	`AccountsReceivableNetCurrent`	$911.00K	USD	Point-in-time
Inventories, net	`InventoryNet`	$71.00K	USD	Point-in-time
Inventories, net	`InventoryNet`	$69.00K	USD	Point-in-time
Redeemable convertible preferred stock, Series A, discount	`TemporaryEquityDiscountOnShares`	$486.00K	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$629.00K	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$344.00K	USD	Point-in-time
Redeemable convertible preferred stock, Series A, discount	`TemporaryEquityDiscountOnShares`	$502.00K	USD	Point-in-time
Redeemable convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$433.00K	USD	Point-in-time
Redeemable convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$499.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.88M	USD	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	1.00M	shares	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	1.00M	shares	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.00M	shares	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$552.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$558.00K	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.00M	shares	Point-in-time
Advances to and investments in foreign joint ventures	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$9.98M	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.00M	shares	Point-in-time
Advances to and investments in foreign joint ventures	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$10.50M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$185.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$146.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$199.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total assets	`Assets`	$14.38M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.44M	shares	Point-in-time
Total assets	`Assets`	$14.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.53M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.30M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.22M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	225,608.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	225,608.00	shares	Point-in-time
Short-term note payable	`ShortTermBorrowings`	$536.00K	USD	Point-in-time
Short-term note payable	`ShortTermBorrowings`	$202.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.48M	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$82.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.70M	USD	Point-in-time
Lease liabilities, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$103.00K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$150.00K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$163.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.84M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable convertible preferred stock, Series A, net of discount of $486 at March 31, 2019 and $502 at December 31, 2018; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at March 31, 2019 and December 31, 2018	`TemporaryEquityCarryingAmountAttributableToParent`	$4.50M	USD	Point-in-time
Redeemable convertible preferred stock, Series A, net of discount of $486 at March 31, 2019 and $502 at December 31, 2018; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at March 31, 2019 and December 31, 2018	`TemporaryEquityCarryingAmountAttributableToParent`	$4.51M	USD	Point-in-time
Common stock; $0.001 par value, 50,000,000 shares authorized, 9,530,437 and 9,444,878 shares issued and 9,304,829 and 9,219,270 shares outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock; $0.001 par value, 50,000,000 shares authorized, 9,530,437 and 9,444,878 shares issued and 9,304,829 and 9,219,270 shares outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$9.00K	USD	Point-in-time
Treasury stock, at cost, 225,608 shares at both March 31, 2019 and December 31, 2018	`TreasuryStockValue`	$965.00K	USD	Point-in-time
Treasury stock, at cost, 225,608 shares at both March 31, 2019 and December 31, 2018	`TreasuryStockValue`	$965.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.01M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-213.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-417.00K	USD	Point-in-time
Accumulated Deficit; including accumulated statutory reserves in equity method investments of $2,809 at March 31, 2019 and December 31, 2018	`RetainedEarningsAccumulatedDeficit`	$-5.42M	USD	Point-in-time
Accumulated Deficit; including accumulated statutory reserves in equity method investments of $2,809 at March 31, 2019 and December 31, 2018	`RetainedEarningsAccumulatedDeficit`	$-6.01M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.63M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.91M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$10.08M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$14.56M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$14.38M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.40M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.88M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.55M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$925.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$329.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$470.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$467.00K	USD	1 Quarter
Selling	`SellingExpense`	$92.00K	USD	1 Quarter
Selling	`SellingExpense`	$135.00K	USD	1 Quarter
Total operating expenses	`OperatingExpensesBeforeJointVentureOperatingExpensesAndEquityMethodInvestmentRealizedGainLossOnDisposal`	$559.00K	USD	1 Quarter
Total operating expenses	`OperatingExpensesBeforeJointVentureOperatingExpensesAndEquityMethodInvestmentRealizedGainLossOnDisposal`	$1.22M	USD	1 Quarter
Equity income from joint venture	`IncomeLossFromEquityMethodInvestments`	$265.00K	USD	1 Quarter
Equity income from joint venture	`IncomeLossFromEquityMethodInvestments`	$171.00K	USD	1 Quarter
Joint venture operation's related expenses	`JointVentureManagementRelatedExpenses`	$54.00K	USD	1 Quarter
Joint venture operation's related expenses	`JointVentureManagementRelatedExpenses`	$61.00K	USD	1 Quarter
Net equity income from foreign joint venture operations	`NetEquityIncomeLossFromForeignJointVentures`	$211.00K	USD	1 Quarter
Net equity income from foreign joint venture operations	`NetEquityIncomeLossFromForeignJointVentures`	$110.00K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeNonoperatingIncomeInterestExpenseInterestIncomeIncomeTaxesNoncontrollingInterestsNet`	$-537.00K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeNonoperatingIncomeInterestExpenseInterestIncomeIncomeTaxesNoncontrollingInterestsNet`	$-120.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$21.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$82.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$63.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$42.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$75.00K	USD	1 Quarter
Loss from continuing operations before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-495.00K	USD	1 Quarter
Loss from continuing operations before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-45.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$60.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-105.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-495.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-2.86M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-495.00K	USD	1 Quarter
Dividend and accretion of discount on redeemable convertible preferred stock	`TemporaryEquityDividendsAdjustment`	$90.00K	USD	1 Quarter
Dividend and accretion of discount on redeemable convertible preferred stock	`TemporaryEquityDividendsAdjustment`	$91.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-586.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.05M	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.06	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.33	USD	1 Quarter
Consolidated operations	`EarningsPerShareBasicAndDiluted`	$-0.35	USD	1 Quarter
Consolidated operations	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.28M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.72M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-495.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.96M	USD	1 Quarter
Equity income from foreign joint venture operations	`IncomeLossFromEquityMethodInvestments`	$265.00K	USD	1 Quarter
Equity income from foreign joint venture operations	`IncomeLossFromEquityMethodInvestments`	$171.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$190.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$162.00K	USD	1 Quarter
Bad debt expense	`BadDebtExpenseRecovery`	$15.00K	USD	1 Quarter
Deferred compensation costs	`DeferredCompensationArrangementWithIndividualCompensationExpenseIncome`	$-13.00K	USD	1 Quarter
Deferred compensation costs	`DeferredCompensationArrangementWithIndividualCompensationExpenseIncome`	$-12.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$28.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-186.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-321.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$611.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.00K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$-2.15M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$285.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-196.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$119.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.30M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-399.00K	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$479.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.38M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.51M	USD	1 Quarter
Purchases of property, plant and equipment and other assets	`PaymentsToAcquireProductiveAssets`	$79.00K	USD	1 Quarter
Purchases of property, plant and equipment and other assets	`PaymentsToAcquireProductiveAssets`	$18.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-79.00K	USD	1 Quarter
Proceeds from sale of common stock, preferred stock and warrants	`ProceedsFromRepurchaseOfEquity`	$5.00K	USD	1 Quarter
Treasury stocks purchase	`PaymentsForRepurchaseOfCommonStock`	$18.00K	USD	1 Quarter
Proceeds from short-term notes payable	`ProceedsFromNotesPayable`	$334.00K	USD	1 Quarter
Payments on short-term notes payable	`RepaymentsOfNotesPayable`	$59.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-72.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$334.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-54.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.66M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.12M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$627.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$627.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.29M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$7.63M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.22M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.08M	USD	Point-in-time
Common stock issued for accrued dividends on preferred stock	`StockIssuedDuringPeriodValueConversionOfPreferredStockAndAccruedDividends`	$75.00K	USD	1 Quarter
Treasury stock purchase	`TreasuryStockValueAcquiredCostMethod`	$18.00K	USD	1 Quarter
Restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$166.00K	USD	1 Quarter
Common stock issued as payment of preferred stock	`StockIssuedDuringPeriodValueStockDividend`	$91.00K	USD	1 Quarter
Accretion of discount on preferred stock	`PreferredStockAccretionOfRedemptionDiscount`	$16.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-586.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.05M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$375.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$204.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$7.63M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.22M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.08M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-495.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$375.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$204.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-291.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.59M	USD	1 Quarter

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