10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001615774-18-014680`
Period End Date	20180930
Filing Date	20181220
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	opxs-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 36 Cash Flow Statement 70 Stockholders Equity 25

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.12M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.64M	USD	Point-in-time
Net Inventory	`InventoryNet`	$7.61M	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
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`	$104.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$12.48M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Current Assets	`AssetsCurrent`	$11.33M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.19M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.33M	shares	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.46M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.30M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.19M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.33M	shares	Point-in-time
Prepaid Royalties	`PrepaidRoyaltiesNoncurrent`	$60.00K	USD	Point-in-time
Prepaid Royalties	`PrepaidRoyaltiesNoncurrent`	$30.00K	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`	$53.00K	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`	$943.00K	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends Payable	`DividendsPayableCurrent`	$261.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$22.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.17M	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`	$101.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$308.00K	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`	$2.84M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.47M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.50M	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`	$6.34M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock - ($0.001 par, 2,000,000,000 authorized, 8,333,353 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, 8,333,353 and 8,190,101 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`	$25.94M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.60M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.47M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$6.34M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.95M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.69M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$14.03M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$20.85M	USD	Annual
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.55M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$16.34M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$15.13M	USD	Annual
Gross Margin	`GrossProfit`	$3.41M	USD	Annual
Gross Margin	`GrossProfit`	$4.51M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.21M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.03M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$1.49M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$204.00K	USD	Annual
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-489.00K	USD	Annual
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$95.00K	USD	Annual
Interest Expense	`InterestExpense`	$19.00K	USD	Annual
Interest Expense	`InterestExpense`	$20.00K	USD	Annual
Other Income (Expense)	`NonoperatingIncomeExpense`	$75.00K	USD	Annual
Other Income (Expense)	`NonoperatingIncomeExpense`	$-508.00K	USD	Annual
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-304.00K	USD	Annual
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.56M	USD	Annual
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	$167.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-304.00K	USD	Annual
Dividends declared on participating securities	`DividendsDeclaredOnParticipatingSecurities`	$178.00K	USD	Annual
Dividends declared on participating securities	`DividendsDeclaredOnParticipatingSecurities`	$206.00K	USD	Annual
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$286.00K	USD	Annual
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	-	USD	Annual
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-510.00K	USD	Annual
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$930.00K	USD	Annual
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	Annual
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	USD	Annual
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.46M	shares	Annual
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.00M	shares	Annual
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	Annual
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	Annual
Weighted Average Common Shares Outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.80M	shares	Annual
Weighted Average Common Shares Outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.00M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-304.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$327.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$337.00K	USD	Annual
(Gain) loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$-489.00K	USD	Annual
(Gain) loss on change in fair value of warrants	`DerivativeGainLossOnDerivativeNet`	$95.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$153.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$220.00K	USD	Annual
Provision for inventory valuation	`ProvisionForInventoryValuation`	$-34.00K	USD	Annual
Provision for inventory valuation	`ProvisionForInventoryValuation`	$50.00K	USD	Annual
(Gain) on sale of fixed assets	`GainLossOnDispositionOfAssets1`	$38.00K	USD	Annual
(Gain) on sale of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-666.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.19M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$75.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.37M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-57.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$41.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-700.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.30M	USD	Annual
Federal income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	Annual
Federal income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$22.00K	USD	Annual
Accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$73.00K	USD	Annual
Accrued warranty costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-146.00K	USD	Annual
Prepaid royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Prepaid royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-30.00K	USD	Annual
Customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$368.00K	USD	Annual
Customer advance deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-619.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$320.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-355.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.04M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$167.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$149.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$41.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-108.00K	USD	Annual
Dividends paid	`PaymentsOfDividends`	$261.00K	USD	Annual
Dividends paid	`PaymentsOfDividends`	$784.00K	USD	Annual
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.00K	USD	Annual
Cash paid for taxes withheld on net settled restricted stock unit share issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$30.00K	USD	Annual
Proceeds from warrant exercise	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from warrant exercise	`ProceedsFromWarrantExercises`	$93.00K	USD	Annual
Stock repurchase	`ProceedsFromRepurchaseOfEquity`	$-518.00K	USD	Annual
Stock repurchase	`ProceedsFromRepurchaseOfEquity`	$-700.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.42M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-794.00K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-886.00K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-549.00K	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$683.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	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`	$1.68M	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`	$1.13M	USD	Point-in-time
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	$155.00K	USD	Annual
Exchange of common stock for non-trade accounts receivable	`ExchangeOfCommonStockForNontradeAccountsReceivable`	-	USD	Annual
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$930.00K	USD	Annual
Exchange of preferred stock for common stock	`ExchangeOfPreferredStockForCommonStock`	$870.00K	USD	Annual
Dividends declared and unpaid	`DividendsDeclared`	-	USD	Annual
Dividends declared and unpaid	`DividendsDeclared`	$261.00K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$144.00K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	$20.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$19.00K	USD	Annual
Correction for warrants	`CorrectionForWarrants1`	$-41.00K	USD	Annual
Correction for warrants	`CorrectionForWarrants1`	-	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Exercise of warrants for common shares (in dollars per share)	`SharesIssuedPricePerShare`	$1.50	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$6.34M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$5.95M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$7.24M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$220.00K	USD	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$153.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholdingValue`	$-15.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`VestedRestrictedStockUnitsIssuedNetOfTaxWithholdingValue`	$-30.00K	USD	Annual
Return and cancellation of Sileas held Common Shares in exchange for Accounts Recievables due from Sileas	`StockRepurchasedAndRetiredDuringPeriodValue1`	$-155.00K	USD	Annual
Return and cancellation of Sileas held Common Shares in exchange for Accounts Recievables due from Sileas	`StockRepurchasedAndRetiredDuringPeriodValue1`	-	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`	$-701.00K	USD	Annual
Stock Buyback and Cancellation	`StockRepurchasedAndRetiredDuringPeriodValue`	$-518.00K	USD	Annual
Declared Dividends	`Dividends`	$523.00K	USD	Annual
Declared Dividends	`Dividends`	$522.00K	USD	Annual
Correction for Warrants	`CorrectionForWarrants`	$-41.00K	USD	Annual
Correction for Warrants	`CorrectionForWarrants`	-	USD	Annual
Exercise of Warrants for Common Shares at $1.50	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	-	USD	Annual
Exercise of Warrants for Common Shares at $1.50	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$146.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-304.00K	USD	Annual
Balance at end	`StockholdersEquity`	$6.34M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$5.95M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$7.24M	USD	Point-in-time

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