10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-003847`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	opxs-20180401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 60 Cash Flow Statement 68

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.83M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.63M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.12M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.40M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.61M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.94M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$63.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$137.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Current Assets	`AssetsCurrent`	$11.31M	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`	$12.48M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.46M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.65M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.19M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.32M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.19M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.65M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.27M	shares	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$45.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$60.00K	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`	$68.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$83.00K	USD	Point-in-time
Total Assets	`Assets`	$12.69M	USD	Point-in-time
Total Assets	`Assets`	$14.03M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.36M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$812.00K	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	$261.00K	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	$262.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$7.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$899.00K	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`	$122.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$927.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$677.00K	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`	$3.08M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.47M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$1.60M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.61M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.08M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.68M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,646,003 and 8,190,101 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,646,003 and 8,190,101 shares issued and outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.46M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.41M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.47M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-18.46M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.95M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.01M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$14.03M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.69M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$4.04M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$7.55M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$9.33M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$4.55M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$6.01M	USD	2 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.56M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.27M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$7.22M	USD	2 Qtrs
Gross Margin	`GrossProfit`	$2.11M	USD	2 Qtrs
Gross Margin	`GrossProfit`	$993.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$769.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.54M	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.56M	USD	2 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$840.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$786.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.68M	USD	2 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$550.00K	USD	2 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$-143.00K	USD	2 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$-71.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$207.00K	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$358.00K	USD	2 Qtrs
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$2.35M	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$2.01M	USD	2 Qtrs
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-72.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$12.00K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$6.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$9.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$10.00K	USD	2 Qtrs
Other (Expense) Income	`NonoperatingIncomeExpense`	$348.00K	USD	2 Qtrs
Other (Expense) Income	`NonoperatingIncomeExpense`	$1.99M	USD	2 Qtrs
Other (Expense) Income	`NonoperatingIncomeExpense`	$2.34M	USD	1 Quarter
Other (Expense) Income	`NonoperatingIncomeExpense`	$-78.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-149.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.55M	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$205.00K	USD	2 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.54M	USD	2 Qtrs
Current Income Tax (Benefit) Expense	`DeferredIncomeTaxExpenseBenefit`	$-83.00K	USD	1 Quarter
Current Income Tax (Benefit) Expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Current Income Tax (Benefit) Expense	`DeferredIncomeTaxExpenseBenefit`	$8.00K	USD	2 Qtrs
Current Income Tax (Benefit) Expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$2.63M	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$205.00K	USD	2 Qtrs
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$2.54M	USD	2 Qtrs
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	2 Qtrs
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.30	USD	2 Qtrs
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.31	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.42M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.18M	shares	2 Qtrs
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.19M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.48M	shares	2 Qtrs
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	2 Qtrs
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.19M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.74M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.61M	shares	2 Qtrs
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.63M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.54M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$85.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$79.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$168.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$161.00K	USD	2 Qtrs
Gain on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$358.00K	USD	2 Qtrs
Gain on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$2.35M	USD	1 Quarter
Gain on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$2.01M	USD	2 Qtrs
Gain on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-72.00K	USD	1 Quarter
Noncash interest expense	`OtherNoncashIncomeExpense`	$-2.00K	USD	2 Qtrs
Noncash interest expense	`OtherNoncashIncomeExpense`	$-1.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$129.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$81.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-161.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.72M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$323.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$960.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$74.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-58.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.10M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-233.00K	USD	2 Qtrs
Federal income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	2 Qtrs
Federal income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$7.00K	USD	2 Qtrs
Accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$53.00K	USD	2 Qtrs
Accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	-	USD	2 Qtrs
Prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-15.00K	USD	2 Qtrs
Prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-15.00K	USD	2 Qtrs
Customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-250.00K	USD	2 Qtrs
Customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$18.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.82M	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.00M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$718.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-796.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-130.00K	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	-	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$522.00K	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$261.00K	USD	Point-in-time
Dividends paid	`PaymentsOfDividends`	$261.00K	USD	Point-in-time
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.00K	USD	2 Qtrs
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$30.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-552.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-941.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$149.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.83M	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`	$1.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.83M	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`	$1.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	$155.00K	USD	2 Qtrs
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	-	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$90.00K	USD	2 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$480.00K	USD	2 Qtrs
Dividends declared and unpaid	`DividendsDeclared`	$262.00K	USD	2 Qtrs
Dividends declared and unpaid	`DividendsDeclared`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$10.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$9.00K	USD	2 Qtrs

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