10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001571049-15-006615`
Period End Date	20150630
Filing Date	20150812
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	opxs-20150628.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 52 Cash Flow Statement 56

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`	$909.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$885.00K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$1.07M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$731.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.78M	USD	Point-in-time
Net Inventory	`InventoryNet`	$5.91M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$41.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$63.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.79M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	174.91M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.37M	USD	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`	174.91M	shares	Point-in-time
Property Plant and Equipment	`PropertyPlantAndEquipmentGross`	$3.85M	USD	Point-in-time
Property Plant and Equipment	`PropertyPlantAndEquipmentGross`	$1.74M	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.79M	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.54M	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentNet`	$2.06M	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentNet`	$204.00K	USD	Point-in-time
Intangibles	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	-	USD	Point-in-time
Intangibles	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	-	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$150.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$128.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$26.00K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$151.00K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$176.00K	USD	Point-in-time
Total Assets	`Assets`	$8.75M	USD	Point-in-time
Total Assets	`Assets`	$11.00M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$312.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$910.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$696.00K	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`	$1.18M	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$550.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.87M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.37M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$982.00K	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$194.00K	USD	Point-in-time
Total Other Liabilities	`OtherLiabilities`	$982.00K	USD	Point-in-time
Total Other Liabilities	`OtherLiabilities`	$194.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.85M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.56M	USD	Point-in-time
Common Stock - (par $0.001, 2,000,000,000 authorized, 174,913,943 and 170,913,943 shares issued and outstanding, respectively)	`CommonStockValue`	$175.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$18.18M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.19M	USD	Point-in-time
Retained Earnings (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-12.29M	USD	Point-in-time
Retained Earnings (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-18.93M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$7.44M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.90M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.00M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.75M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$2.31M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$1.86M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$7.81M	USD	3 Qtrs
Revenues	`SalesRevenueNet`	$7.39M	USD	3 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$6.17M	USD	3 Qtrs
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$1.61M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$2.57M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$7.72M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$243.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.22M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$-260.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$91.00K	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`	$741.00K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$2.24M	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-2.15M	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-405.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-1.00M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-629.00K	USD	3 Qtrs
Gain on Purchased Asset	`GainOnPurchasedAsset`	$2.11M	USD	3 Qtrs
Total Other Income	`NonOperatingIncomeTotal`	$2.11M	USD	3 Qtrs
Interest Expense	`InterestExpense`	$-6.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$13.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$2.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$166.00K	USD	3 Qtrs
Total Other	`NonoperatingIncomeExpense`	$-2.00K	USD	3 Qtrs
Total Other	`NonoperatingIncomeExpense`	$6.00K	USD	1 Quarter
Total Other	`NonoperatingIncomeExpense`	$-166.00K	USD	3 Qtrs
Total Other	`NonoperatingIncomeExpense`	$-13.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-202.00K	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-631.00K	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-399.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.01M	USD	1 Quarter
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-77.00K	USD	3 Qtrs
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-554.00K	USD	3 Qtrs
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-202.00K	USD	3 Qtrs
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.01M	USD	1 Quarter
Net Income (Loss) After Taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-399.00K	USD	1 Quarter
Preferred stock dividend/premium	`PreferredStockDividendsIncomeStatementImpact`	$6.44M	USD	3 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-399.00K	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.01M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-554.00K	USD	3 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.64M	USD	3 Qtrs
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	3 Qtrs
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Weighted Average Common Shares Outstanding ( in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	172.32M	shares	1 Quarter
Weighted Average Common Shares Outstanding ( in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	162.95M	shares	3 Qtrs
Weighted Average Common Shares Outstanding ( in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	171.38M	shares	3 Qtrs
Weighted Average Common Shares Outstanding ( in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	170.91M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-202.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-554.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$58.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$247.00K	USD	3 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$142.00K	USD	3 Qtrs
Provision for allowance for inventory valuation	`InventoryWriteDown`	$88.00K	USD	3 Qtrs
(Increase) decrease 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`	$116.00K	USD	3 Qtrs
Stock option compensation expense	`ShareBasedCompensation`	$25.00K	USD	1 Quarter
Stock option compensation expense	`ShareBasedCompensation`	$76.00K	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.17M	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$337.00K	USD	3 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$-552.00K	USD	3 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$867.00K	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$12.00K	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$23.00K	USD	3 Qtrs
(Increase) decrease in security deposits	`IncreaseDecreaseInSecurityDeposits`	$3.00K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-925.00K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$837.00K	USD	3 Qtrs
Increase (decrease) in accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-3.00K	USD	3 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-479.00K	USD	3 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-677.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.45M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-556.00K	USD	3 Qtrs
Net cash provided (used in) by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$897.00K	USD	3 Qtrs
Net cash provided (used in) by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-758.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.10M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	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
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.08M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.00K	USD	3 Qtrs
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	$1.56M	USD	3 Qtrs
Debt issuance fees	`PaymentsOfDebtIssuanceCosts`	$74.00K	USD	3 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$550.00K	USD	3 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-858.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-858.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.04M	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.00K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-800.00K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$885.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$909.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$885.00K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$23.00K	USD	3 Qtrs
Exchange of convertible note and accrued interest to series B preferred stock	`ExchangeOfConvertibleNoteAndAccruedInterestToPreferredStock`	$1.63M	USD	3 Qtrs
Beneficial Conversion Feature on series B preferred stock	`ConversionOfStockAmountConverted1`	$4.89M	USD	3 Qtrs
Beneficial Conversion Feature on series A preferred stock	`ConversionOfStockSharesConverted2`	$1.55M	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$100.00K	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$10.00K	USD	3 Qtrs

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