10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-032124`
Period End Date	20190630
Filing Date	20190814
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	msn-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 28 Cash Flow Statement 48 Stockholders Equity 15

Balance Sheet 81 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`	$7.26M	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`	$7.92M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$28.37M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$28.58M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$860.00K	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`	$604.00K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$3.00K	USD	Point-in-time
Royalty receivable	`RoyaltiesReceivables`	$3.00K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.35M	USD	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.52M	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
Prepaid purchases	`PrepaidPurchasesCurrent`	$15.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	21.04M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$417.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	21.04M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$421.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$353.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	31.92M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	31.92M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$40.43M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$41.25M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$6.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$6.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$448.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$448.00K	USD	Point-in-time
Right-of-use asset-operating leases	`OperatingLeaseRightOfUseAsset`	$599.00K	USD	Point-in-time
Right-of-use asset-finance leases	`FinanceLeaseRightOfUseAsset`	$5.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$154.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$154.00K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$608.00K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$1.21M	USD	Point-in-time
Total Assets	`Assets`	$41.64M	USD	Point-in-time
Total Assets	`Assets`	$41.86M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$720.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$545.00K	USD	Point-in-time
Short-term operating lease liability	`OperatingLeaseLiabilityCurrent`	$227.00K	USD	Point-in-time
Short-term finance lease liability	`FinanceLeaseLiabilityCurrent`	$1.00K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrent`	$1.00K	USD	Point-in-time
Income tax payable, current portion	`AccruedIncomeTaxesCurrent`	$250.00K	USD	Point-in-time
Income tax payable, current portion	`AccruedIncomeTaxesCurrent`	$195.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$110.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$165.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$960.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.25M	USD	Point-in-time
Long-term operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$416.00K	USD	Point-in-time
Long-term finance lease liability	`FinanceLeaseLiabilityNoncurrent`	$4.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$2.23M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$2.17M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$2.65M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$2.17M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.90M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.13M	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, 2019 and March 31, 2019, respectively; 21,042,652 shares outstanding at June 30, 2019 and March 31, 2019, 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, 2019 and March 31, 2019, respectively; 21,042,652 shares outstanding at June 30, 2019 and March 31, 2019, 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`	$-12.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.70M	USD	Point-in-time
Treasury stock, at cost (31,923,145 shares at June 30, 2019 and March 31, 2019, respectively)	`TreasuryStockValue`	$33.20M	USD	Point-in-time
Treasury stock, at cost (31,923,145 shares at June 30, 2019 and March 31, 2019, respectively)	`TreasuryStockValue`	$33.20M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$37.74M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$42.55M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$38.73M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$43.78M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$41.86M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$41.64M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.26M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.61M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.21M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.75M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$1.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$12.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.02M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.83M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.24M	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-977.00K	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-1.22M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$175.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$237.00K	USD	1 Quarter
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-802.00K	USD	1 Quarter
(Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-982.00K	USD	1 Quarter
Provision for income tax expense	`IncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Provision for income tax expense	`IncomeTaxExpenseBenefit`	$48.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-850.00K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-987.00K	USD	1 Quarter
Basic (loss) per share	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Basic (loss) per share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Diluted (loss) per share	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted (loss) per share	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.04M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.62M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.62M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.04M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-987.00K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-850.00K	USD	1 Quarter
Amortization of right-of-use assets	`RightOfUseAssetAmortization`	$51.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.00K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$43.00K	USD	1 Quarter
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$51.00K	USD	1 Quarter
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$149.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$212.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.08M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-165.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$679.00K	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-155.00K	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-402.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-68.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$175.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$70.00K	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliates`	$1.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-50.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-55.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-1.00K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-444.00K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-375.00K	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$1.08M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$213.00K	USD	1 Quarter
Disposals of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	1 Quarter
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-213.00K	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$380.00K	USD	1 Quarter
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-380.00K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-657.00K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.84M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.92M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.26M	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 beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.26M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.92M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.26M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.10M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.26M	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	$3.00K	USD	1 Quarter
Operating cash flows from operating leases	`OperatingLeasePayments`	-	USD	1 Quarter
Operating cash flows from operating leases	`OperatingLeasePayments`	$65.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$650.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for new finance lease liabilities	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	-	USD	1 Quarter
Right-of-use assets obtained in exchange for new finance lease liabilities	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	$5.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$37.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$42.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.73M	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`	$380.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-850.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-987.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$37.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$42.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.73M	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.