10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001615774-16-009051`
Period End Date	20160930
Filing Date	20161223
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	opxs-20161002.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 32 Cash Flow Statement 68 Stockholders Equity 26

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.87M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.10M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	1,001.00	shares	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.21M	USD	Point-in-time
Net Inventory	`InventoryNet`	$5.71M	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$120.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$170.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.27M	shares	Point-in-time
Current Assets	`AssetsCurrent`	$11.00M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	314,867.00	shares	Point-in-time
Current Assets	`AssetsCurrent`	$9.43M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	310,867.00	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.97M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.27M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	314,867.00	shares	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$120.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$90.00K	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`	$113.00K	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`	$12.76M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$575.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$706.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$810.00K	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`	$559.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$817.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.32M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	-	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$65.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.39M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.40M	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,266,601 and 314,867 shares issued and outstanding, respectively)	`CommonStockValue`	-	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,266,601 and 314,867 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.39M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$29.58M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.23M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-18.24M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.16M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$10.36M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.90M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.55M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.76M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$13.00M	USD	Annual
Revenue	`SalesRevenueNet`	$17.28M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$14.23M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$11.62M	USD	Annual
Gross Margin	`GrossProfit`	$1.39M	USD	Annual
Gross Margin	`GrossProfit`	$3.05M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.25M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$2.83M	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$-200.00K	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$-1.44M	USD	Annual
Gain on Purchased Asset	`GainOnPurchasedAsset`	-	USD	Annual
Gain on Purchased Asset	`GainOnPurchasedAsset`	$2.11M	USD	Annual
Interest Income (Expense)	`InterestExpense`	$36.00K	USD	Annual
Interest Income (Expense)	`InterestExpense`	$179.00K	USD	Annual
Other (Expense) and Income	`NonoperatingIncomeExpense`	$1.93M	USD	Annual
Other (Expense) and Income	`NonoperatingIncomeExpense`	$-36.00K	USD	Annual
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-236.00K	USD	Annual
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$491.00K	USD	Annual
Current Income Taxes (Benefit)	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
Current Income Taxes (Benefit)	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (Loss) After Taxes	`NetIncomeLoss`	$491.00K	USD	Annual
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-236.00K	USD	Annual
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	$6.44M	USD	Annual
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	$761.00K	USD	Annual
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.95M	USD	Annual
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-997.00K	USD	Annual
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-19.06	USD	Annual
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	Annual
Weighted Average Common Shares Outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	312,219.00	shares	Annual
Weighted Average Common Shares Outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.55M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$491.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-236.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$334.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$345.00K	USD	Annual
Noncash interest expense	`NoncashInterestExpense`	$154.00K	USD	Annual
Noncash interest expense	`NoncashInterestExpense`	$-17.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$140.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$192.00K	USD	Annual
Provision for inventory valuation	`ProvisionForInventoryValuation`	$-247.00K	USD	Annual
Provision for inventory valuation	`ProvisionForInventoryValuation`	$-60.00K	USD	Annual
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets1`	$-5.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-771.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.13M	USD	Annual
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$562.00K	USD	Annual
(Increase) decrease in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$49.00K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-51.00K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$130.00K	USD	Annual
(Increase) decrease in security deposits	`IncreaseDecreaseInSecurityDeposits`	-	USD	Annual
(Increase) decrease in security deposits	`IncreaseDecreaseInSecurityDeposits`	$3.00K	USD	Annual
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$622.00K	USD	Annual
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$129.00K	USD	Annual
Increase (decrease) in accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-3.00K	USD	Annual
Increase (decrease) in accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	-	USD	Annual
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-597.00K	USD	Annual
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-898.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.68M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$407.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$171.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.19M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.10M	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$4.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.10M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-30.00K	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.25M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Redemption of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	-	USD	Annual
Redemption of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$1.75M	USD	Annual
Deferred public offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Deferred public offering costs	`PaymentsOfStockIssuanceCosts`	$252.00K	USD	Annual
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	$1.56M	USD	Annual
Proceeds from convertible notes issued	`ProceedsFromConvertibleDebt`	-	USD	Annual
Debt issuance fees	`PaymentsOfDebtIssuanceCosts`	$74.00K	USD	Annual
Debt issuance fees	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-500.00K	USD	Annual
Proceeds (to) from credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$800.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.74M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.29M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.00M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.89M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$53.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$25.00K	USD	Annual
Exchange of convertible note and accrued interest to series B preferred stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Exchange of convertible note and accrued interest to series B preferred stock	`DebtConversionConvertedInstrumentAmount1`	$1.63M	USD	Annual
Beneficial conversion feature on Series A and Series B preferred stock	`StockConvertibleBeneficialConversionFeature`	$761.00K	USD	Annual
Beneficial conversion feature on Series A and Series B preferred stock	`StockConvertibleBeneficialConversionFeature`	$6.44M	USD	Annual
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$10.00K	USD	Annual
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$6.94M	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance at begening	`StockholdersEquity`	$8.16M	USD	Point-in-time
Balance at begening	`StockholdersEquity`	$10.36M	USD	Point-in-time
Balance at begening	`StockholdersEquity`	$5.90M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$140.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$192.00K	USD	Annual
Issue of Shares - DTC/CEDE fractional roundup correction for reverse split 12/8/15	`IssueOfSharesDtccedeFractionalRoundupCorrectionForReverseSplitValue`	-	USD	Annual
Conversion of Preferred Series B (10/23/15)	`ConversionOfPreferredSeriesB1Value`	-	USD	Annual
Conversion of Preferred Series A (3/27/16)	`ConversionOfPreferredSeriesAValue`	-	USD	Annual
Conversion of Preferred Series B (7/6/16)	`ConversionOfPreferredSeriesB2Value`	-	USD	Annual
Conversion of Preferred Series A (8/10/16)	`ConversionOfPreferredSeriesA1Value`	-	USD	Annual
Issue of Common Shares for Investor Relations (IRTH)	`StockIssuedDuringPeriodValueNewIssues1`	-	USD	Annual
Issuance of Common Stock 8/26/2016	`StockIssuedDuringPeriodValueNewIssues`	$4.25M	USD	Annual
Fees on Share Offering paid by Optex	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-252.00K	USD	Annual
Redemption of Series A & Series B Preferred Shares 8/26/2016	`StockRedeemedOrCalledDuringPeriodValue`	$-1.75M	USD	Annual
Conversion of Series A & Series B Preferred Shares 8/26/2016	`ConversionOfPreferredSeriesAAndSeriesBValue`	-	USD	Annual
Conversions of Series C Preferred Shares	`ConversionOfPreferredSeriesCValue`	-	USD	Annual
Ratchet on Preferred Series A 3/27/16 Conversion (10/18/16)	`RatchetOnPreferredSeriesAValue`	-	USD	Annual
Preferred Series B Issued in Exchange of Convertible Notes	`ExchangeOfConvertibleNoteAndAccruedInterestToPreferredStock`	$1.63M	USD	Annual
Conversion of Preferred Series B	`ConversionOfPreferredSeriesBValue`	-	USD	Annual
Beneficial Conversion Feature on Series A and Series B Preferred Stock - Dividend/Premium	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	-	USD	Annual
Beneficial Conversion Feature on Series A and Series B Preferred Stock - Dividend/Premium	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	-	USD	Annual
Net Income	`NetIncomeLoss`	$491.00K	USD	Annual
Net Income	`NetIncomeLoss`	$-236.00K	USD	Annual
Balance at end	`StockholdersEquity`	$8.16M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$10.36M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$5.90M	USD	Point-in-time

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