10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001615774-16-005304`
Period End Date	20160331
Filing Date	20160511
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	opxs-20160327.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 64 Cash Flow Statement 64

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$596.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.66M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.87M	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
Net Inventory	`InventoryNet`	$5.71M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.20M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$170.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$122.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Current Assets	`AssetsCurrent`	$9.43M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	1.58M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	314,867.00	shares	Point-in-time
Current Assets	`AssetsCurrent`	$9.57M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	310,867.00	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	1.58M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	314,867.00	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.97M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.82M	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$120.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$105.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$128.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$143.00K	USD	Point-in-time
Total Assets	`Assets`	$11.55M	USD	Point-in-time
Total Assets	`Assets`	$11.52M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.47M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$575.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$758.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$812.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$28.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$28.00K	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$1.09M	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$824.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$817.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$784.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.32M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.87M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$65.00K	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.39M	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 1,581,145 and 314,867 issued and outstanding, respectively)	`CommonStockValue`	$2.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 1,581,145 and 314,867 issued and outstanding, respectively)	`CommonStockValue`	-	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.39M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.44M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-18.24M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-18.79M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.16M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$7.65M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.55M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.52M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$6.43M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$3.22M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$5.50M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$3.40M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.43M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$5.45M	USD	2 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$5.15M	USD	2 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$2.70M	USD	1 Quarter
Gross Margin	`GrossProfit`	$-27.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$515.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$981.00K	USD	2 Qtrs
Gross Margin	`GrossProfit`	$352.00K	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.50M	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$828.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.52M	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$810.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-313.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-837.00K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-541.00K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-1.14M	USD	2 Qtrs
Gain on Purchased Asset	`GainOnPurchasedAsset`	-	USD	1 Quarter
Gain on Purchased Asset	`GainOnPurchasedAsset`	-	USD	1 Quarter
Gain on Purchased Asset	`GainOnPurchasedAsset`	-	USD	2 Qtrs
Gain on Purchased Asset	`GainOnPurchasedAsset`	$2.11M	USD	2 Qtrs
Change in Fair Value - Derivatives	`DerivativeGainLossOnDerivativeNet`	$-847.00K	USD	1 Quarter
Change in Fair Value - Derivatives	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Change in Fair Value - Derivatives	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in Fair Value - Derivatives	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Interest Income (Expense)	`InterestExpense`	$153.00K	USD	2 Qtrs
Interest Income (Expense)	`InterestExpense`	$-5.33M	USD	1 Quarter
Interest Income (Expense)	`InterestExpense`	$15.00K	USD	2 Qtrs
Interest Income (Expense)	`InterestExpense`	$-3.00K	USD	1 Quarter
Other Income and (Expense)	`NonoperatingIncomeExpense`	$1.96M	USD	2 Qtrs
Other Income and (Expense)	`NonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Other Income and (Expense)	`NonoperatingIncomeExpense`	$4.48M	USD	1 Quarter
Other Income and (Expense)	`NonoperatingIncomeExpense`	$-15.00K	USD	2 Qtrs
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-556.00K	USD	2 Qtrs
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.64M	USD	1 Quarter
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-310.00K	USD	1 Quarter
(Loss) Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$813.00K	USD	2 Qtrs
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net (Loss) Income After Taxes	`NetIncomeLoss`	$3.64M	USD	1 Quarter
Net (Loss) Income After Taxes	`NetIncomeLoss`	$-310.00K	USD	1 Quarter
Net (Loss) Income After Taxes	`NetIncomeLoss`	$-556.00K	USD	2 Qtrs
Net (Loss) Income After Taxes	`NetIncomeLoss`	$813.00K	USD	2 Qtrs
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	$6.44M	USD	2 Qtrs
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	-	USD	2 Qtrs
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	$6.44M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.80M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.63M	USD	2 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-556.00K	USD	2 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-310.00K	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-18.10	USD	2 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.90	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-9.00	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.66	USD	2 Qtrs
Weighted Average Common Shares Outstanding - basic and fully diluted (in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	310,867.00	shares	2 Qtrs
Weighted Average Common Shares Outstanding - basic and fully diluted (in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	310,867.00	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic and fully diluted (in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	335,625.00	shares	2 Qtrs
Weighted Average Common Shares Outstanding - basic and fully diluted (in share)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	344,881.00	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$3.64M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-310.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-556.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$813.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$91.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$86.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$158.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$172.00K	USD	2 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$-12.00K	USD	2 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$143.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$48.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$24.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$91.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$24.00K	USD	1 Quarter
(Increase) decrease of intangible assets	`FiniteLivedIntangibleAssetsPeriodIncreaseDecrease`	$171.00K	USD	2 Qtrs
(Increase) decrease of intangible assets	`FiniteLivedIntangibleAssetsPeriodIncreaseDecrease`	-	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.02M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.21M	USD	2 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$1.48M	USD	2 Qtrs
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$389.00K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-49.00K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$15.00K	USD	2 Qtrs
(Increase) decrease in security deposits	`IncreaseDecreaseInSecurityDeposits`	-	USD	2 Qtrs
(Increase) decrease in security deposits	`IncreaseDecreaseInSecurityDeposits`	$-1.00K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$441.00K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$843.00K	USD	2 Qtrs
Increase (decrease) in accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	-	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`	$493.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.34M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-63.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-527.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.09M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
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 investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.08M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.00K	USD	2 Qtrs
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	$1.56M	USD	2 Qtrs
Debt issuance fees	`PaymentsOfDebtIssuanceCosts`	$74.00K	USD	2 Qtrs
Debt issuance fees	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-20.00K	USD	2 Qtrs
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$550.00K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-20.00K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.04M	USD	2 Qtrs
Net (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-570.00K	USD	2 Qtrs
Net (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-87.00K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$596.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$596.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$28.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$10.00K	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	-	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$3.17M	USD	2 Qtrs

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