10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001615774-17-004368`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	opxs-20170702.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 54 Cash Flow Statement 70

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$601.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.10M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.67M	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.21M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.37M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$120.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$92.00K	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
Current Assets	`AssetsCurrent`	$10.73M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Current Assets	`AssetsCurrent`	$11.00M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	7.59M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.53M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.27M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	7.59M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.27M	shares	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$68.00K	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`	$91.00K	USD	Point-in-time
Total Assets	`Assets`	$12.35M	USD	Point-in-time
Total Assets	`Assets`	$12.76M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$706.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$609.00K	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	$261.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$810.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$974.00K	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	`CustomerAdvancesAndDepositsCurrent`	$559.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$689.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.86M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.78M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.12M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.52M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.64M	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 7,590,101 and 8,266,601 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 7,590,101 and 8,266,601 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.36M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.88M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.65M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.67M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.70M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.35M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.76M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$11.77M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$5.34M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$4.39M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$11.94M	USD	3 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.50M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$4.26M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$9.71M	USD	3 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$9.51M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$1.08M	USD	1 Quarter
Gross Margin	`GrossProfit`	$886.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$2.43M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$2.06M	USD	3 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$2.50M	USD	3 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$821.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$872.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$2.39M	USD	3 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$-78.00K	USD	3 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$65.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-329.00K	USD	3 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$211.00K	USD	1 Quarter
Loss on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-666.00K	USD	3 Qtrs
Loss on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Loss on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-1.02M	USD	1 Quarter
Loss on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	3 Qtrs
Interest Expense	`InterestExpense`	$28.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$4.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$14.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$12.00K	USD	1 Quarter
Other Expense	`NonoperatingIncomeExpense`	$-680.00K	USD	3 Qtrs
Other Expense	`NonoperatingIncomeExpense`	$-28.00K	USD	3 Qtrs
Other Expense	`NonoperatingIncomeExpense`	$-1.03M	USD	1 Quarter
Other Expense	`NonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-963.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-758.00K	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-357.00K	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$199.00K	USD	1 Quarter
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred Income Taxes (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-963.00K	USD	1 Quarter
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-758.00K	USD	3 Qtrs
Net Income (Loss) After Taxes	`NetIncomeLoss`	$199.00K	USD	1 Quarter
Net Income (Loss) After Taxes	`NetIncomeLoss`	$-357.00K	USD	3 Qtrs
Basic Income (Loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.47	USD	3 Qtrs
Basic Income (Loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic Income (Loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	3 Qtrs
Basic Income (Loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.12	USD	1 Quarter
Weighted Average Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.74M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.61M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	756,321.00	shares	3 Qtrs
Weighted Average Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.04M	shares	3 Qtrs
Diluted Income per share (in dollars per shares)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.79M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-963.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-758.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$199.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-357.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$260.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$88.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$86.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$253.00K	USD	3 Qtrs
Loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-666.00K	USD	3 Qtrs
Loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-1.02M	USD	1 Quarter
Loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	-	USD	3 Qtrs
Noncash interest expense	`NoncashInterestExpense`	$-17.00K	USD	3 Qtrs
Noncash interest expense	`NoncashInterestExpense`	-	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$43.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$156.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$112.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$63.00K	USD	1 Quarter
Gain on sale of fixed assets	`GainsLossesOnSalesOfAssets`	-	USD	3 Qtrs
Gain on sale of fixed assets	`GainsLossesOnSalesOfAssets`	$27.00K	USD	3 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.03M	USD	3 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-272.00K	USD	3 Qtrs
Increase in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$797.00K	USD	3 Qtrs
Increase in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$1.16M	USD	3 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-62.00K	USD	3 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-28.00K	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$67.00K	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$234.00K	USD	3 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-22.00K	USD	3 Qtrs
Decrease in prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-22.00K	USD	3 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$130.00K	USD	3 Qtrs
Increase (decrease) in customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-526.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$408.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$379.00K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-350.00K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$22.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$27.00K	USD	3 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-34.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-103.00K	USD	3 Qtrs
Proceeds (to) credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-70.00K	USD	3 Qtrs
Proceeds (to) credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Proceeds (to) stock repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	3 Qtrs
Proceeds (to) stock repurchase	`ProceedsFromRepurchaseOfEquity`	$-518.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-70.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-518.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-82.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-971.00K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$601.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	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`	$683.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$601.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	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`	$683.00K	USD	Point-in-time
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	-	USD	3 Qtrs
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	$155.00K	USD	3 Qtrs
Dividends Declared	`DividendsDeclared`	$261.00K	USD	3 Qtrs
Dividends Declared	`DividendsDeclared`	-	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$3.17M	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$210.00K	USD	3 Qtrs
Cash paid for taxes withheld on officer restricted stock unit net share issue	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for taxes withheld on officer restricted stock unit net share issue	`IncomeTaxesPaid`	$15.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$45.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$14.00K	USD	3 Qtrs

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