10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001615774-17-007478`
Period End Date	20170930
Filing Date	20171220
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	opxs-20171001.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 75 Stockholders Equity 31

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.10M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.12M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.61M	USD	Point-in-time
Net Inventory	`InventoryNet`	$6.21M	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.20	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$120.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$63.00K	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`	$12.48M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$11.00M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.19M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.46M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.27M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.65M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.19M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.27M	shares	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$60.00K	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`	$83.00K	USD	Point-in-time
Total Assets	`Assets`	$14.03M	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`	$1.36M	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`	$1.45M	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$174.00K	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`	$927.00K	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`	$4.47M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$-3.70M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.61M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.12M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.08M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.52M	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,190,101 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, 8,190,101 and 8,266,601 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.41M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.88M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.47M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.65M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.95M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.16M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$14.03M	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`	$18.55M	USD	Annual
Revenue	`SalesRevenueNet`	$17.28M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$15.13M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$14.23M	USD	Annual
Gross Margin	`GrossProfit`	$3.41M	USD	Annual
Gross Margin	`GrossProfit`	$3.05M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.96M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.21M	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$204.00K	USD	Annual
Operating Income (Loss)	`OperatingIncomeLoss`	$-911.00K	USD	Annual
(Loss) Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-489.00K	USD	Annual
(Loss) Gain on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$739.00K	USD	Annual
Interest Expense	`InterestExpense`	$36.00K	USD	Annual
Interest Expense	`InterestExpense`	$19.00K	USD	Annual
Other Expense	`NonoperatingIncomeExpense`	$-508.00K	USD	Annual
Other Expense	`NonoperatingIncomeExpense`	$703.00K	USD	Annual
Loss Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-304.00K	USD	Annual
Loss Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-208.00K	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 Loss After Taxes	`NetIncomeLoss`	$-208.00K	USD	Annual
Net Loss After Taxes	`NetIncomeLoss`	$-304.00K	USD	Annual
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	-	USD	Annual
Preferred stock dividend/premium	`PreferredStockDividendsAndOtherAdjustments`	$1.20M	USD	Annual
Net (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.41M	USD	Annual
Net (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-304.00K	USD	Annual
Basic and diluted (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	Annual
Basic and diluted (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.91	USD	Annual
Weighted Average Common Shares Outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.55M	shares	Annual
Weighted Average Common Shares Outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.00M	shares	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-208.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-304.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$337.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$345.00K	USD	Annual
Loss (gain) on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-489.00K	USD	Annual
Loss (gain) on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$739.00K	USD	Annual
Noncash interest expense	`NoncashInterestExpense`	-	USD	Annual
Noncash interest expense	`NoncashInterestExpense`	$-17.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$192.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$220.00K	USD	Annual
(Use of) provision for inventory valuation	`ProvisionForInventoryValuation`	$34.00K	USD	Annual
(Use of) provision for inventory valuation	`ProvisionForInventoryValuation`	$-60.00K	USD	Annual
(Gain) loss on sale of fixed assets	`GainsLossesOnSalesOfAssets`	$38.00K	USD	Annual
(Gain) loss on sale of fixed assets	`GainsLossesOnSalesOfAssets`	$-5.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.19M	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-771.00K	USD	Annual
Increase in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$1.37M	USD	Annual
Increase in inventory (net of progress billed)	`IncreaseDecreaseInInventories`	$562.00K	USD	Annual
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-51.00K	USD	Annual
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-57.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$130.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.30M	USD	Annual
Increase in accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-146.00K	USD	Annual
Increase 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`	$368.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-331.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$320.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-539.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$149.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$41.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$4.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-108.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.00K	USD	Annual
Dividends paid	`PaymentsOfDividends`	$261.00K	USD	Annual
Dividends paid	`PaymentsOfDividends`	-	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.75M	USD	Point-in-time
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.75M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Redemption of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$1.75M	USD	Annual
Redemption of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	-	USD	Annual
Deferred public offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Deferred public offering costs	`PaymentsOfStockIssuanceCosts`	$45.00K	USD	Annual
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsOfStockIssuanceCosts1`	-	USD	Annual
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsOfStockIssuanceCosts1`	$15.00K	USD	Annual
Proceeds (to) credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$-500.00K	USD	Annual
Proceeds (to) credit facility (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	Annual
Proceeds (to) stock repurchase	`ProceedsFromRepurchaseOfEquity`	$-518.00K	USD	Annual
Proceeds (to) stock repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-794.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.45M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.89M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-886.00K	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`	$1.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	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`	$1.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	-	USD	Annual
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	$155.00K	USD	Annual
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$6.94M	USD	Annual
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$930.00K	USD	Annual
Beneficial conversion features on preferred stock	`StockConvertibleBeneficialConversionFeature`	-	USD	Annual
Beneficial conversion features on preferred stock	`StockConvertibleBeneficialConversionFeature`	$1.20M	USD	Annual
Fair value of warrants issued for underwriter expenses in public offering	`FairValueOfWarrantsIssuedForUnderwriterExpensesInPublicOffering`	-	USD	Annual
Fair value of warrants issued for underwriter expenses in public offering	`FairValueOfWarrantsIssuedForUnderwriterExpensesInPublicOffering`	$156.00K	USD	Annual
Dividends declared and unpaid	`DividendsDeclared`	$261.00K	USD	Annual
Dividends declared and unpaid	`DividendsDeclared`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	$53.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$19.00K	USD	Annual

Stockholders Equity 31 line items

Line Item	Tag	Value	Unit	Period
Number of share vested	`StockVestedDuringPeriodSharesRestrictedStockAward`	68,000.00	shares	Annual
Number of shares withheld for Income tax requirements	`NumberOfShareIssuedForEmployeeFederalIncomeTaxRequirements`	22,201.00	shares	Annual
Balance at beginning	`StockholdersEquity`	$5.95M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$7.24M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$8.16M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$192.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$220.00K	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`	$4.75M	USD	Annual
Fees on Share Offering paid by Optex	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$45.00K	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
Fair Value of Warrants Issued in Offering 8/26/2016	`FairValueOfWarrantsIssuedInOffering`	$-3.86M	USD	Annual
Shares issued in settlement of 68,000 vested restricted stock units on 1/4/17, net of tax withheld shares of 22,201	`ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsValueGranted`	$-15.00K	USD	Annual
Return and cancellation of Sileas held Common Shares in exchange for Accounts Recievables due from Sileas	`StockRepurchasedAndRetiredDuringPeriodValue1`	$-155.00K	USD	Annual
Conversions of Series C Preferred Shares	`ConversionOfPreferredSeriesCValue`	-	USD	Annual
Conversions of Series C Preferred Shares	`ConversionOfPreferredSeriesCValue`	-	USD	Annual
Stock Buyback and Cancellation	`StockRepurchasedAndRetiredDuringPeriodValue`	$-518.00K	USD	Annual
Ratchet on Preferred Series A 3/27/16 Conversion (10/18/16)	`RatchetOnPreferredSeriesAValue`	-	USD	Annual
Beneficial Conversion Feature on Preferred Stock - Dividend/Premium	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	-	USD	Annual
Declared Dividends	`Dividends`	$-522.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-208.00K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-304.00K	USD	Annual
Balance at end	`StockholdersEquity`	$5.95M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$7.24M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$8.16M	USD	Point-in-time

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