10-Q Filing

ALT5 Sigma Corp CIK: 862861 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-028450`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	jan-20210403.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 43 Cash Flow Statement 53 Stockholders Equity 16

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$379.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.06M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	259,729.00	shares	Point-in-time
Trade and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$3.60M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	259,729.00	shares	Point-in-time
Trade and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$3.52M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$196.00K	USD	Point-in-time
Preferred stock, outstanding shares (in shares)	`PreferredStockSharesOutstanding`	259,729.00	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$196.00K	USD	Point-in-time
Preferred stock, outstanding shares (in shares)	`PreferredStockSharesOutstanding`	259,729.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.63M	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
Inventories	`InventoryNet`	$1.01M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.14M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$734.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.52M	USD	Point-in-time
Common stock, issued shares (in shares)	`CommonStockSharesIssued`	1.83M	shares	Point-in-time
Common stock, issued shares (in shares)	`CommonStockSharesIssued`	2.40M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$991.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$732.00K	USD	Point-in-time
Common stock, outstanding shares (in shares)	`CommonStockSharesOutstanding`	2.40M	shares	Point-in-time
Common stock, outstanding shares (in shares)	`CommonStockSharesOutstanding`	1.83M	shares	Point-in-time
Right to use asset - operating leases	`OperatingLeaseRightOfUseAsset`	$2.46M	USD	Point-in-time
Right to use asset - operating leases	`OperatingLeaseRightOfUseAsset`	$2.53M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.03M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.99M	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$231.00K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$237.00K	USD	Point-in-time
Total assets	`Assets`	$27.30M	USD	Point-in-time
Total assets	`Assets`	$24.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.67M	USD	Point-in-time
Accrued liabilities - other	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$4.47M	USD	Point-in-time
Accrued liabilities - other	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$4.89M	USD	Point-in-time
Accrued liability - California Sales Taxes	`SalesAndExciseTaxPayableCurrent`	$5.83M	USD	Point-in-time
Accrued liability - California Sales Taxes	`SalesAndExciseTaxPayableCurrent`	$4.13M	USD	Point-in-time
Accrued liability - California Sales Taxes	`SalesAndExciseTaxPayableCurrent`	$5.77M	USD	Point-in-time
Lease obligation short term - operating leases	`OperatingLeaseLiabilityCurrent`	$1.20M	USD	Point-in-time
Lease obligation short term - operating leases	`OperatingLeaseLiabilityCurrent`	$1.27M	USD	Point-in-time
Short term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$216.00K	USD	Point-in-time
Short term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.04M	USD	Point-in-time
Related party note	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.00M	USD	Point-in-time
Related party note	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.45M	USD	Point-in-time
Lease obligation long term - operating leases	`OperatingLeaseLiabilityNoncurrent`	$1.36M	USD	Point-in-time
Lease obligation long term - operating leases	`OperatingLeaseLiabilityNoncurrent`	$1.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.82M	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, series A - par value $0.001 per share 2,000,000 authorized, 259,729 shares issued and outstanding at April 3, 2021 and January 2, 2021, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, series A - par value $0.001 per share 2,000,000 authorized, 259,729 shares issued and outstanding at April 3, 2021 and January 2, 2021, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001 per share, 200,000,000 shares authorized, 2,403,410 and 1,829,982 shares issued and outstanding at April 3, 2021 and at January 2, 2021, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock, par value $0.001 per share, 200,000,000 shares authorized, 2,403,410 and 1,829,982 shares issued and outstanding at April 3, 2021 and at January 2, 2021, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$45.53M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$39.87M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-588.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-630.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.37M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.30M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.45M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.67M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$6.98M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$7.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.42M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.87M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.53M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.11M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.40M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-73.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-113.00K	USD	1 Quarter
Gain on Payroll Protection Program loan forgiveness	`GainOnPayrollProtectionProgramLoanForgiveness`	$1.87M	USD	1 Quarter
Gain on settlement of vendor advance payments	`GainLossOnSettlementOfVendorAdvancePayments`	$810.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$818.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$2.61M	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$705.00K	USD	1 Quarter
Income (loss) from operations before benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.69M	USD	1 Quarter
Income (loss) from operations before benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$500.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-2.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-411.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$502.00K	USD	1 Quarter
Dividends declared - Series A-1 preferred stock	`PreferredStockDividendsPerShareDeclared`	-	USD	1 Quarter
Dividends declared - Series A-1 preferred stock	`PreferredStockDividendsPerShareDeclared`	-	USD	1 Quarter
Dividends declared - Common stock	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Dividends declared - Common stock	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Basic income (loss) per share	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Basic income (loss) per share	`EarningsPerShareBasic`	$-1.33	USD	1 Quarter
Diluted income (loss) per share	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted income (loss) per share	`EarningsPerShareDiluted`	$-1.33	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.92M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.71M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.07M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.71M	shares	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$502.00K	USD	1 Quarter
Effect of foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.00K	USD	1 Quarter
Effect of foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-42.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-42.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$6.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$460.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-2.28M	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-2.28M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$502.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.02M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.04M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$10.00K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$376.00K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$109.00K	USD	1 Quarter
Gain on Payroll Protection Program loan forgiveness	`GainOnPayrollProtectionProgramLoanForgiveness`	$1.87M	USD	1 Quarter
Gain on settlement of vendor advance payments	`GainLossOnSettlementOfVendorAdvancePayments`	$810.00K	USD	1 Quarter
Change in deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$473.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$28.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-6.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-82.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.63M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-65.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-41.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-402.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-623.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-35.00K	USD	1 Quarter
Right of use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$73.00K	USD	1 Quarter
Lease liability	`IncreaseDecreaseInOperatingLeaseLiabilities`	$41.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-385.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-749.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$696.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-342.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$297.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Purchases of intangibles	`PaymentsToAcquireIntangibleAssets`	$56.00K	USD	1 Quarter
Purchases of intangibles	`PaymentsToAcquireIntangibleAssets`	$49.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-346.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.00K	USD	1 Quarter
Proceeds from equity financing, net	`ProceedsFromIssuanceOfCommonStock`	$5.54M	USD	1 Quarter
Proceeds from stock option exercise	`ProceedsFromStockOptionsExercised`	$11.00K	USD	1 Quarter
Payments on short term notes payable	`RepaymentsOfNotesPayable`	$144.00K	USD	1 Quarter
Payments on short term notes payable	`RepaymentsOfNotesPayable`	$280.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.41M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-280.00K	USD	1 Quarter
Effect of changes in exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.00K	USD	1 Quarter
Effect of changes in exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-42.00K	USD	1 Quarter
INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$356.00K	USD	1 Quarter
INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.68M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$481.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$379.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.06M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$837.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$481.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$379.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.06M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$837.00K	USD	Point-in-time
Interest paid	`InterestPaidNet`	$56.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$23.00K	USD	1 Quarter
Right to use asset - operating leases capitalized	`RightToUseAssetOperatingLeasesCapitalized`	$930.00K	USD	1 Quarter
Right to use asset - operating leases capitalized	`RightToUseAssetOperatingLeasesCapitalized`	$424.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$10.34M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$8.49M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$8.44M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.37M	USD	Point-in-time
Shares issued	`StockIssuedDuringPeriodValueNewIssues`	$5.54M	USD	1 Quarter
Share based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$376.00K	USD	1 Quarter
Share based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$109.00K	USD	1 Quarter
Stock option exercise	`StockIssuedDuringPeriodValueStockOptionsExercised`	$11.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$-42.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$6.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-2.28M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$502.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$10.34M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$8.49M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$8.44M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.37M	USD	Point-in-time

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