10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-007912`
Period End Date	20180630
Filing Date	20180813
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	opxs-20180701.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 73

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.64M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.12M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.55M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.61M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.48M	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
Prepaid Expenses	`PrepaidExpenseCurrent`	$147.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$63.00K	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`	$12.48M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$11.82M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.55M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.25M	USD	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, outstanding	`CommonStockSharesOutstanding`	8.19M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.55M	shares	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$60.00K	USD	Point-in-time
Prepaid Royalties - Long Term	`PrepaidRoyaltiesNoncurrent`	$38.00K	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`	$83.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$61.00K	USD	Point-in-time
Total Assets	`Assets`	$13.13M	USD	Point-in-time
Total Assets	`Assets`	$14.03M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$842.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.36M	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	$261.00K	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$54.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.45M	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$163.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$174.00K	USD	Point-in-time
Customer Advance Deposits - Short Term	`CustomerAdvancesAndDepositsCurrent`	$235.00K	USD	Point-in-time
Customer Advance Deposits - Short Term	`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`	$2.77M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$1.60M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.61M	USD	Point-in-time
Customer Advance Deposits - Long Term	`CustomerAdvancesOrDepositsNoncurrent`	$330.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.70M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.08M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,546,003 and 8,190,101 shares issued and outstanding, respectively)	`CommonStockValue`	$9.00K	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,546,003 and 8,190,101 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.30M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$26.41M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-17.87M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.47M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.43M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$13.13M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$14.03M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$15.45M	USD	3 Qtrs
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$11.94M	USD	3 Qtrs
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$4.39M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$6.12M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$11.85M	USD	3 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$9.51M	USD	3 Qtrs
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.50M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$4.63M	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.50M	USD	1 Quarter
Gross Margin	`GrossProfit`	$2.43M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$3.60M	USD	3 Qtrs
Gross Margin	`GrossProfit`	$886.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$773.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$821.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$2.33M	USD	3 Qtrs
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$2.50M	USD	3 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$723.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$65.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-78.00K	USD	3 Qtrs
Operating Income (Loss)	`OperatingIncomeLoss`	$1.27M	USD	3 Qtrs
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-666.00K	USD	3 Qtrs
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$4.00K	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$2.01M	USD	3 Qtrs
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-1.02M	USD	1 Quarter
Interest Expense	`InterestExpense`	$14.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$4.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$16.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$4.00K	USD	1 Quarter
Other (Expense) Income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other (Expense) Income	`NonoperatingIncomeExpense`	$-1.03M	USD	1 Quarter
Other (Expense) Income	`NonoperatingIncomeExpense`	$-680.00K	USD	3 Qtrs
Other (Expense) Income	`NonoperatingIncomeExpense`	$1.99M	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-963.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.27M	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-758.00K	USD	3 Qtrs
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$723.00K	USD	1 Quarter
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	$137.00K	USD	1 Quarter
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	$144.00K	USD	3 Qtrs
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$586.00K	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$-963.00K	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$3.12M	USD	3 Qtrs
Net income (loss) applicable to common shareholders	`NetIncomeLoss`	$-758.00K	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`	$0.07	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`	$0.37	USD	3 Qtrs
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.74M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.52M	shares	3 Qtrs
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.04M	shares	3 Qtrs
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.59M	shares	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	3 Qtrs
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.09	USD	3 Qtrs
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.12	USD	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.74M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.04M	shares	3 Qtrs
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.75M	shares	3 Qtrs

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$586.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-963.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.12M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-758.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$80.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$86.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$253.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$241.00K	USD	3 Qtrs
(Gain) loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-666.00K	USD	3 Qtrs
(Gain) loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$4.00K	USD	1 Quarter
(Gain) loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$2.01M	USD	3 Qtrs
(Gain) loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-1.02M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$171.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$117.00K	USD	3 Qtrs
(Gain) loss on sale of fixed assets	`GainLossOnDispositionOfAssets1`	$27.00K	USD	3 Qtrs
(Gain) loss on sale of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-570.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-272.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-137.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.16M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-28.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$84.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$67.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-791.00K	USD	3 Qtrs
Federal income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	3 Qtrs
Federal income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$54.00K	USD	3 Qtrs
Accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	-	USD	3 Qtrs
Accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$11.00K	USD	3 Qtrs
Prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-22.00K	USD	3 Qtrs
Prepaid royalties - long term	`IncreaseDecreaseInPrepaidRoyalties`	$-22.00K	USD	3 Qtrs
Customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$130.00K	USD	3 Qtrs
Customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-362.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.12M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$423.00K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-335.00K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.01M	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`	$18.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.00K	USD	3 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$27.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-103.00K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$261.00K	USD	Point-in-time
Dividends paid	`PaymentsOfDividends`	-	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$784.00K	USD	3 Qtrs
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	3 Qtrs
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$30.00K	USD	3 Qtrs
Proceeds (to) stock repurchase	`ProceedsFromRepurchaseOfEquity`	$-200.00K	USD	3 Qtrs
Proceeds (to) stock repurchase	`ProceedsFromRepurchaseOfEquity`	$-518.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-533.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.01M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-971.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-43.00K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	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`	$1.64M	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`	$1.60M	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`	$1.64M	USD	Point-in-time
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	$155.00K	USD	3 Qtrs
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	-	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$210.00K	USD	3 Qtrs
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$600.00K	USD	3 Qtrs
Dividends declared and unpaid	`DividendsDeclared`	$261.00K	USD	3 Qtrs
Dividends declared and unpaid	`DividendsDeclared`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	$90.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$16.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$14.00K	USD	3 Qtrs

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