10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001571049-14-003834`
Period End Date	20140630
Filing Date	20140808
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	opxs-20140629.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 51 Cash Flow Statement 54

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$901.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.65M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$3.12M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$948.00K	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.94M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.58M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$42.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$36.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.62M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.84M	USD	Point-in-time
Property Plant and Equipment	`PropertyPlantAndEquipmentGross`	$1.70M	USD	Point-in-time
Property Plant and Equipment	`PropertyPlantAndEquipmentGross`	$1.74M	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.52M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.46M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentNet`	$220.00K	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentNet`	$244.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	157.35M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	170.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	170.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	157.35M	shares	Point-in-time
Deferred Tax Asset - Long Term	`DeferredTaxAssetsNetNoncurrent`	$1.15M	USD	Point-in-time
Deferred Tax Asset - Long Term	`DeferredTaxAssetsNetNoncurrent`	$1.08M	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$158.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$180.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$27.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$21.00K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$1.34M	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$1.28M	USD	Point-in-time
Total Assets	`Assets`	$13.14M	USD	Point-in-time
Total Assets	`Assets`	$10.40M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$989.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$282.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$706.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$488.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$25.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$25.00K	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$769.00K	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$991.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$858.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.35M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.79M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$1.94M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$1.23M	USD	Point-in-time
Total Other Liabilities	`OtherLiabilities`	$1.23M	USD	Point-in-time
Total Other Liabilities	`OtherLiabilities`	$1.94M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.02M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.28M	USD	Point-in-time
Optex Systems Holdings, Inc. Preferred Stock ($0.001 par 5,000 authorized, 1,001 and 1,016 series A preferred shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Optex Systems Holdings, Inc. Preferred Stock ($0.001 par 5,000 authorized, 1,001 and 1,016 series A preferred shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Optex Systems Holdings, Inc. - (par $0.001, 2,000,000,000 authorized, 170,913,943 and 157,346,607 shares issued and outstanding, respectively)	`CommonStockValue`	$171.00K	USD	Point-in-time
Optex Systems Holdings, Inc. - (par $0.001, 2,000,000,000 authorized, 170,913,943 and 157,346,607 shares issued and outstanding, respectively)	`CommonStockValue`	$157.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$17.92M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$17.98M	USD	Point-in-time
Retained Earnings (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-10.78M	USD	Point-in-time
Retained Earnings (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-10.22M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$7.86M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$7.38M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$13.14M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.40M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$4.36M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$7.39M	USD	3 Qtrs
Revenues	`SalesRevenueNet`	$1.86M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$11.98M	USD	3 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$3.69M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$9.96M	USD	3 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$1.61M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$6.17M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$243.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$670.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.22M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$2.02M	USD	3 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$2.21M	USD	3 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$648.00K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$1.85M	USD	3 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$766.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-405.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-96.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-629.00K	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-185.00K	USD	3 Qtrs
Interest Expense - Net	`InterestExpense`	$28.00K	USD	3 Qtrs
Interest Expense - Net	`InterestExpense`	$-6.00K	USD	1 Quarter
Interest Expense - Net	`InterestExpense`	$2.00K	USD	3 Qtrs
Interest Expense - Net	`InterestExpense`	$22.00K	USD	1 Quarter
Total Other	`NonoperatingIncomeExpense`	$-28.00K	USD	3 Qtrs
Total Other	`NonoperatingIncomeExpense`	$-22.00K	USD	1 Quarter
Total Other	`NonoperatingIncomeExpense`	$-2.00K	USD	3 Qtrs
Total Other	`NonoperatingIncomeExpense`	$6.00K	USD	1 Quarter
Loss Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-118.00K	USD	1 Quarter
Loss Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-213.00K	USD	3 Qtrs
Loss Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-399.00K	USD	1 Quarter
Loss Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-631.00K	USD	3 Qtrs
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-39.00K	USD	1 Quarter
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-77.00K	USD	3 Qtrs
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-68.00K	USD	3 Qtrs
Net Loss After Taxes	`NetIncomeLoss`	$-145.00K	USD	3 Qtrs
Net Loss After Taxes	`NetIncomeLoss`	$-554.00K	USD	3 Qtrs
Net Loss After Taxes	`NetIncomeLoss`	$-79.00K	USD	1 Quarter
Net Loss After Taxes	`NetIncomeLoss`	$-399.00K	USD	1 Quarter
Net Loss Applicable to Common Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-145.00K	USD	3 Qtrs
Net Loss Applicable to Common Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-554.00K	USD	3 Qtrs
Net Loss Applicable to Common Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-399.00K	USD	1 Quarter
Net Loss Applicable to Common Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-79.00K	USD	1 Quarter
Basic and Diluted Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Basic and Diluted Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	3 Qtrs
Basic and Diluted Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Basic and Diluted Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	3 Qtrs
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	157.35M	shares	1 Quarter
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	154.22M	shares	3 Qtrs
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	170.91M	shares	1 Quarter
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	162.95M	shares	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-145.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-554.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-79.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-399.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$58.00K	USD	3 Qtrs
Provision for allowance for inventory valuation	`ProvisionForInventoryValuation`	$-88.00K	USD	3 Qtrs
Increase in deferred tax asset (net of valuation allowance)	`IncreaseDecreaseInDeferredIncomeTaxes`	$68.00K	USD	3 Qtrs
Increase in deferred tax asset (net of valuation allowance)	`IncreaseDecreaseInDeferredIncomeTaxes`	$77.00K	USD	3 Qtrs
Stock option compensation expense	`ShareBasedCompensation`	$29.00K	USD	1 Quarter
Stock option compensation expense	`ShareBasedCompensation`	$33.00K	USD	1 Quarter
Stock option compensation expense	`ShareBasedCompensation`	$76.00K	USD	3 Qtrs
Stock option compensation expense	`ShareBasedCompensation`	$119.00K	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-300.00K	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.17M	USD	3 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInNetOfProgressBilledInventory`	$-552.00K	USD	3 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInNetOfProgressBilledInventory`	$1.10M	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$105.00K	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$12.00K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-353.00K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-925.00K	USD	3 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$242.00K	USD	3 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-479.00K	USD	3 Qtrs
Increase (decrease) in accrued estimated loss on contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	$-2.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-912.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.45M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.06M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$897.00K	USD	3 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyaltiesNoncurrent`	$22.00K	USD	3 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyaltiesNoncurrent`	$22.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-18.00K	USD	3 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$323.00K	USD	3 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-858.00K	USD	3 Qtrs
Net cash (used In) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$323.00K	USD	3 Qtrs
Net cash (used In) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-858.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-752.00K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$901.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.65M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$901.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.65M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$28.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$2.00K	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$50.00K	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$100.00K	USD	3 Qtrs

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