10-K Filing

EMERSON RADIO CORP CIK: 32621 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001564590-20-030804`
Period End Date	20200331
Filing Date	20200626
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	msn-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 26 Cash Flow Statement 46 Stockholders Equity 13

Balance Sheet 77 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
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.92M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$28.37M	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`	$28.10M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$484.00K	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
Inventory	`InventoryFinishedGoodsNetOfReserves`	$1.92M	USD	Point-in-time
Inventory	`InventoryFinishedGoodsNetOfReserves`	$3.52M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$250.00K	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
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`	$424.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$327.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	21.04M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	31.92M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$37.36M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$41.25M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	31.92M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$448.00K	USD	Point-in-time
Right-of-use asset-operating leases	`OperatingLeaseRightOfUseAsset`	$442.00K	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`	$94.00K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$608.00K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$545.00K	USD	Point-in-time
Total Assets	`Assets`	$37.90M	USD	Point-in-time
Total Assets	`Assets`	$41.86M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$545.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$592.00K	USD	Point-in-time
Short-term operating lease liability	`OperatingLeaseLiabilityCurrent`	$241.00K	USD	Point-in-time
Short-term finance lease liability	`FinanceLeaseLiabilityCurrent`	$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`	$180.00K	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`	$1.21M	USD	Point-in-time
Long-term operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$234.00K	USD	Point-in-time
Long-term finance lease liability	`FinanceLeaseLiabilityNoncurrent`	$4.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$2.03M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$2.17M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$2.27M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$2.17M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.48M	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, 2020 and March 31, 2019, respectively; 21,042,652 shares outstanding at March 31, 2020 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 March 31, 2020 and March 31, 2019, respectively; 21,042,652 shares outstanding at March 31, 2020 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`	$-16.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.70M	USD	Point-in-time
Treasury stock, at cost (31,923,145 shares at March 31, 2020 and March 31, 2019, respectively)	`TreasuryStockValue`	$33.20M	USD	Point-in-time
Treasury stock, at cost (31,923,145 shares at March 31, 2020 and March 31, 2019, respectively)	`TreasuryStockValue`	$33.20M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$43.78M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$34.42M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$38.73M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$37.90M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$41.86M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.98M	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.29M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$8.79M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$6.75M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.84M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.16M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$12.63M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$10.92M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-4.63M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-3.65M	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$776.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$859.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.85M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	Annual
Provision (benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$457.00K	USD	Annual
Provision (benefit) for income tax expense	`IncomeTaxExpenseBenefit`	$-352.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.44M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.31M	USD	Annual
Basic loss per share	`EarningsPerShareBasic`	$-0.20	USD	Annual
Basic loss per share	`EarningsPerShareBasic`	$-0.11	USD	Annual
Diluted loss per share	`EarningsPerShareDiluted`	$-0.20	USD	Annual
Diluted loss per share	`EarningsPerShareDiluted`	$-0.11	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.04M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.93M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.04M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.93M	shares	Annual

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-4.31M	USD	Annual
Net (loss)	`ProfitLoss`	$-2.44M	USD	Annual
Amortization of right-of-use assets	`RightOfUseAssetAmortization`	$33.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.00K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$80.00K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredTaxAsset`	$448.00K	USD	Annual
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$-3.00K	USD	Annual
Asset allowances and reserves	`IncreaseDecreaseInAssetAllowancesAndReserves`	$196.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-117.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.48M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-1.60M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$356.00K	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-167.00K	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$57.00K	USD	Annual
Prepaid expenses and other current assets	`AccruedConsultingFeesAndReimbursableExpenses`	$-136.00K	USD	Annual
Prepaid expenses and other current assets	`AccruedConsultingFeesAndReimbursableExpenses`	$-97.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-60.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$47.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-258.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-195.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-698.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$115.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$15.00K	USD	Annual
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.91M	USD	Annual
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.19M	USD	Annual
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$1.85M	USD	Annual
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$44.11M	USD	Annual
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$1.58M	USD	Annual
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$56.48M	USD	Annual
Disposals of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	Annual
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$270.00K	USD	Annual
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.37M	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$2.62M	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.62M	USD	Annual
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.18M	USD	Annual
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.64M	USD	Annual
Cash and cash equivalents at beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.92M	USD	Point-in-time
Cash and cash equivalents at beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.28M	USD	Point-in-time
Cash and cash equivalents at beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.10M	USD	Point-in-time
Cash and cash equivalents at end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.92M	USD	Point-in-time
Cash and cash equivalents at end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.28M	USD	Point-in-time
Cash and cash equivalents at end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$25.10M	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	$199.00K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	$277.00K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$43.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$34.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.73M	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`	$2.62M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.44M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.31M	USD	Annual
Balance	`StockholdersEquity`	$43.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$34.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.73M	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.