10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001615774-19-002266`
Period End Date	20181231
Filing Date	20190211
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	opxs-20181230.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 36 Cash Flow Statement 55 Stockholders Equity 14

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.73M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.33M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	8.33M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.33M	shares	Point-in-time
Net Inventory	`InventoryNet`	$7.64M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	8.33M	shares	Point-in-time
Net Inventory	`InventoryNet`	$8.52M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$87.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$104.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$12.50M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$11.33M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.30M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$1.23M	USD	Point-in-time
Prepaid Royalties	`PrepaidRoyaltiesNoncurrent`	$22.00K	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`	$45.00K	USD	Point-in-time
Other Assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$53.00K	USD	Point-in-time
Total Assets	`Assets`	$12.69M	USD	Point-in-time
Total Assets	`Assets`	$13.78M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.68M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$943.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$76.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$22.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$922.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$101.00K	USD	Point-in-time
Accrued Warranties	`ProductWarrantyAccrualClassifiedCurrent`	$73.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$308.00K	USD	Point-in-time
Customer Advance Deposits	`CustomerAdvancesAndDepositsCurrent`	$5.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$300.00K	USD	Point-in-time
Credit Facility	`LinesOfCreditCurrent`	$500.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$2.84M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$2.12M	USD	Point-in-time
Warrant Liability	`DerivativeLiabilitiesNoncurrent`	$3.50M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.37M	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, 8,333,353 and 8,333,353 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 8,333,353 shares issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$25.97M	USD	Point-in-time
Additional Paid-in-capital	`AdditionalPaidInCapital`	$25.94M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-17.58M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.60M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.63M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$8.40M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$6.34M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$5.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$13.78M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.69M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$4.78M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$5.89M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.66M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$4.45M	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.44M	USD	1 Quarter
Gross Margin	`GrossProfit`	$1.12M	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$743.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$773.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$700.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$343.00K	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$1.39M	USD	1 Quarter
Gain (Loss) on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-344.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$6.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$3.00K	USD	1 Quarter
Other Income (Expense)	`NonoperatingIncomeExpense`	$-347.00K	USD	1 Quarter
Other Income (Expense)	`NonoperatingIncomeExpense`	$1.38M	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.08M	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.00K	USD	1 Quarter
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	$54.00K	USD	1 Quarter
Current Income Tax Expense	`DeferredIncomeTaxExpenseBenefit`	$90.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.02M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-94.00K	USD	1 Quarter
Dividends declared on participating securities	`DividendsDeclaredOnParticipatingSecurities`	-	USD	1 Quarter
Dividends declared on participating securities	`DividendsDeclaredOnParticipatingSecurities`	$90.00K	USD	1 Quarter
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	$671.00K	USD	1 Quarter
Deemed dividends on participating securities	`DeemedDividendsOnParticipatingSecurities`	-	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-184.00K	USD	1 Quarter
Net income (loss) applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.35M	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.16	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.32M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.33M	shares	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Weighted Average Common Shares Outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.49M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.32M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$2.02M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-94.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$81.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$85.00K	USD	1 Quarter
(Gain) Loss on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$1.39M	USD	1 Quarter
(Gain) Loss on Change in Fair Value of Warrants	`DerivativeGainLossOnDerivativeNet`	$-344.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$44.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$36.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$270.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-701.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$88.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$882.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-4.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-17.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-826.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$492.00K	USD	1 Quarter
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$90.00K	USD	1 Quarter
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$54.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-77.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$28.00K	USD	1 Quarter
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-7.00K	USD	1 Quarter
Prepaid Royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-8.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-303.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$-215.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$219.00K	USD	1 Quarter
Net Cash (used in) provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-151.00K	USD	1 Quarter
Net Cash (used in) provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$125.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.00K	USD	1 Quarter
Dividends Paid	`PaymentsOfDividends`	-	USD	1 Quarter
Dividends Paid	`PaymentsOfDividends`	$262.00K	USD	Point-in-time
Dividends Paid	`PaymentsOfDividends`	$261.00K	USD	1 Quarter
Proceeds from Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Proceeds from Credit Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$200.00K	USD	1 Quarter
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$200.00K	USD	1 Quarter
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-261.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-136.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	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`	$1.55M	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`	$1.16M	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`	$1.55M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Exchange of Preferred Stock for Common Stock	`ExchangeOfPreferredStockForCommonStock`	$480.00K	USD	1 Quarter
Exchange of Preferred Stock for Common Stock	`ExchangeOfPreferredStockForCommonStock`	-	USD	1 Quarter
Dividends Declared and Unpaid	`DividendsDeclared`	$262.00K	USD	1 Quarter
Dividends Declared and Unpaid	`DividendsDeclared`	-	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$3.00K	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$6.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$5.63M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$8.40M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$6.34M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$5.95M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$44.00K	USD	1 Quarter
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$36.00K	USD	1 Quarter
Conversions of Series C Preferred Shares	`ConversionOfPreferredSeriesCValue`	-	USD	1 Quarter
Declared Dividends	`Dividends`	$262.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-94.00K	USD	1 Quarter
Balance at end	`StockholdersEquity`	$5.63M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$8.40M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$6.34M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$5.95M	USD	Point-in-time

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