10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001571049-15-004099`
Period End Date	20150331
Filing Date	20150513
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	opxs-20150329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 57 Cash Flow Statement 54

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$1.75M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$731.00K	USD	Point-in-time
Net Inventory	`InventoryNet`	$5.91M	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.30M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$56.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$41.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.37M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$9.22M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	170.91M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	170.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	157.35M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	170.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	170.91M	shares	Point-in-time
Property Plant and Equipment	`PropertyPlantAndEquipmentGross`	$3.84M	USD	Point-in-time
Property Plant and Equipment	`PropertyPlantAndEquipmentGross`	$1.74M	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.54M	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.70M	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentNet`	$2.14M	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentNet`	$204.00K	USD	Point-in-time
Intangibles	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$171.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$135.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$150.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$26.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$27.00K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$333.00K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$176.00K	USD	Point-in-time
Total Assets	`Assets`	$11.69M	USD	Point-in-time
Total Assets	`Assets`	$8.75M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$312.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$482.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$730.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$458.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$25.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$28.00K	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$1.07M	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$594.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$550.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.38M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.87M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$878.00K	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$982.00K	USD	Point-in-time
Total Other Liabilities	`OtherLiabilities`	$982.00K	USD	Point-in-time
Total Other Liabilities	`OtherLiabilities`	$878.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.26M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.85M	USD	Point-in-time
Common Stock - (par $0.001, 2,000,000,000 authorized, 170,913,943 shares issued and outstanding)	`CommonStockValue`	$171.00K	USD	Point-in-time
Common Stock - (par $0.001, 2,000,000,000 authorized, 170,913,943 shares issued and outstanding)	`CommonStockValue`	$171.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$18.01M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.17M	USD	Point-in-time
Retained (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-17.91M	USD	Point-in-time
Retained (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-12.29M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.90M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$8.43M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.75M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.69M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$5.54M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$5.50M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$2.18M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$3.40M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$4.55M	USD	2 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$5.15M	USD	2 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$1.82M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$3.43M	USD	1 Quarter
Gross Margin	`GrossProfit`	$-27.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$352.00K	USD	2 Qtrs
Gross Margin	`GrossProfit`	$981.00K	USD	2 Qtrs
Gross Margin	`GrossProfit`	$364.00K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$1.50M	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$577.00K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$1.21M	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$810.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-1.14M	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-224.00K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-837.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-213.00K	USD	1 Quarter
Gain on Purchased Asset	`GainOnPurchasedAsset`	$2.11M	USD	2 Qtrs
Total Other Income	`NonOperatingIncomeTotal`	$2.11M	USD	2 Qtrs
Change in Fair Value - Derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	2 Qtrs
Change in Fair Value - Derivatives	`UnrealizedGainLossOnDerivatives`	$-847.00K	USD	1 Quarter
Change in Fair Value - Derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	2 Qtrs
Interest Expense	`InterestExpense`	$153.00K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$8.00K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$-5.33M	USD	1 Quarter
Interest Expense	`InterestExpense`	$1.00K	USD	1 Quarter
Total Other	`NonoperatingIncomeExpense`	$-8.00K	USD	2 Qtrs
Total Other	`NonoperatingIncomeExpense`	$-153.00K	USD	2 Qtrs
Total Other	`NonoperatingIncomeExpense`	$4.48M	USD	1 Quarter
Total Other	`NonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-232.00K	USD	2 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-214.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$813.00K	USD	2 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.64M	USD	1 Quarter
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-77.00K	USD	2 Qtrs
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-72.00K	USD	1 Quarter
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-142.00K	USD	1 Quarter
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$3.64M	USD	1 Quarter
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-155.00K	USD	2 Qtrs
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$813.00K	USD	2 Qtrs
Preferred stock dividend/premium	`PreferredStockDividendsIncomeStatementImpact`	$6.44M	USD	1 Quarter
Preferred stock dividend/premium	`PreferredStockDividendsIncomeStatementImpact`	$6.44M	USD	2 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.63M	USD	2 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.80M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-155.00K	USD	2 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-142.00K	USD	1 Quarter
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	2 Qtrs
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	2 Qtrs
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	170.91M	shares	2 Qtrs
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	170.91M	shares	1 Quarter
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	158.97M	shares	2 Qtrs
Weighted Average Common Shares Outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	160.59M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$813.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-155.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$37.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$158.00K	USD	2 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$143.00K	USD	2 Qtrs
(Increase) decrease of intangible assets	`IncreaseDecreaseInIntangibleAssetsCurrent`	$171.00K	USD	2 Qtrs
Provision for allowance for inventory valuation	`InventoryWriteDown`	$44.00K	USD	2 Qtrs
(Increase) decrease in deferred tax asset (net of valuation allowance)	`IncreaseDecreaseInDeferredIncomeTaxes`	$77.00K	USD	2 Qtrs
Stock option compensation expense	`ShareBasedCompensation`	$47.00K	USD	2 Qtrs
Stock option compensation expense	`ShareBasedCompensation`	$91.00K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.02M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.85M	USD	2 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$-612.00K	USD	2 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$389.00K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$15.00K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.00K	USD	2 Qtrs
(Increase) decrease in security deposits	`IncreaseDecreaseInSecurityDeposits`	$-1.00K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-908.00K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$441.00K	USD	2 Qtrs
Increase (decrease) in accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-3.00K	USD	2 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-582.00K	USD	2 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-332.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.27M	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.34M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-527.00K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.12M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.09M	USD	2 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyaltiesNoncurrent`	$15.00K	USD	2 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyaltiesNoncurrent`	$15.00K	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$15.00K	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.08M	USD	2 Qtrs
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	$1.56M	USD	1 Quarter
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	$1.56M	USD	2 Qtrs
Debt issuance fees	`PaymentsOfDebtIssuanceCosts`	$74.00K	USD	2 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-858.00K	USD	2 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$550.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-858.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.04M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$275.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-570.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	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`	$1.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$10.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$8.00K	USD	2 Qtrs
Exchange of convertible note and accrued interest to series B preferred stock	`ExchangeOfConvertibleNoteAndAccruedInterestToPreferredStock`	$1.63M	USD	2 Qtrs
Beneficial Conversion Feature on series B preferred stock	`ConversionOfStockAmountConverted1`	$4.89M	USD	2 Qtrs
Beneficial Conversion Feature on series A preferred stock	`ConversionOfStockSharesConverted2`	$1.55M	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$100.00K	USD	2 Qtrs

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