10-Q Filing

FIEE, INC. CIK: 1467761 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-008957`
Period End Date	20180630
Filing Date	20180813
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	zmtp-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 76 Cash Flow Statement 50

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$179.85K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$495.27K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$117.50K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$229.22K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	16.01M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	15.29M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.23M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.65M	USD	Point-in-time
Inventories	`InventoryNet`	$5.20M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	15.29M	shares	Point-in-time
Inventories	`InventoryNet`	$6.95M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	16.01M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$578.41K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$748.96K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$274.17K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$391.67K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$157.30K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$161.57K	USD	Point-in-time
Total assets	`Assets`	$8.79M	USD	Point-in-time
Total assets	`Assets`	$10.89M	USD	Point-in-time
Bank debt	`BankLoans`	$90.26K	USD	Point-in-time
Bank debt	`BankLoans`	$191.06K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.53M	USD	Point-in-time
Accrued sales tax	`OtherAccruedLiabilitiesCurrent`	$262.62K	USD	Point-in-time
Accrued sales tax	`OtherAccruedLiabilitiesCurrent`	$831.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.91M	USD	Point-in-time
Commitments and contingencies (Note 4)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 4)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock: Authorized: 25,000,000 shares at $0.01 par value Issued and outstanding: 16,006,681 shares at June 30, 2018 and 15,286,540 shares at December 31, 2017	`CommonStockValue`	$152.87K	USD	Point-in-time
Common stock: Authorized: 25,000,000 shares at $0.01 par value Issued and outstanding: 16,006,681 shares at June 30, 2018 and 15,286,540 shares at December 31, 2017	`CommonStockValue`	$160.07K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$40.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$40.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-37.25M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.79M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.89M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$6.83M	USD	1 Quarter
Net sales	`Revenues`	$15.86M	USD	2 Qtrs
Net sales	`Revenues`	$7.52M	USD	1 Quarter
Net sales	`Revenues`	$11.97M	USD	2 Qtrs
Cost of goods sold	`CostOfRevenue`	$9.85M	USD	2 Qtrs
Cost of goods sold	`CostOfRevenue`	$4.79M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$8.05M	USD	2 Qtrs
Cost of goods sold	`CostOfRevenue`	$4.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.01M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.93M	USD	2 Qtrs
Selling	`SellingExpense`	$2.12M	USD	1 Quarter
Selling	`SellingExpense`	$3.53M	USD	2 Qtrs
Selling	`SellingExpense`	$1.68M	USD	1 Quarter
Selling	`SellingExpense`	$4.18M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$770.28K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$338.89K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$173.21K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$621.29K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$402.44K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$910.41K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$368.33K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$778.59K	USD	2 Qtrs
Total	`OperatingExpenses`	$5.58M	USD	2 Qtrs
Total	`OperatingExpenses`	$2.42M	USD	1 Quarter
Total	`OperatingExpenses`	$2.66M	USD	1 Quarter
Total	`OperatingExpenses`	$5.21M	USD	2 Qtrs
Operating profit (loss)	`OperatingIncomeLoss`	$68.25K	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$-1.28M	USD	2 Qtrs
Operating profit (loss)	`OperatingIncomeLoss`	$-229.07K	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$436.75K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$87.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$191.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$15.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$37.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$56.54K	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.54K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.71K	USD	2 Qtrs
Interest expense	`InterestExpense`	$30.75K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-65.00	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-11.14K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-35.00	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-108.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-30.77K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.57K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-11.59K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-67.64K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$425.16K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.35M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-259.83K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$62.69K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$9.14K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$15.36K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$18.96K	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$9.14K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$406.21K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$47.33K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-268.97K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.03	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.09	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.09	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic weighted average common and common equivalent shares	`WeightedAverageNumberOfSharesOutstandingBasic`	15.83M	shares	2 Qtrs
Basic weighted average common and common equivalent shares	`WeightedAverageNumberOfSharesOutstandingBasic`	14.82M	shares	1 Quarter
Basic weighted average common and common equivalent shares	`WeightedAverageNumberOfSharesOutstandingBasic`	15.93M	shares	1 Quarter
Basic weighted average common and common equivalent shares	`WeightedAverageNumberOfSharesOutstandingBasic`	14.80M	shares	2 Qtrs
Diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.65M	shares	2 Qtrs
Diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.80M	shares	2 Qtrs
Diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.82M	shares	1 Quarter
Diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.75M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$406.21K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$47.33K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-268.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$181.14K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$287.81K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$56.03K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$86.65K	USD	2 Qtrs
Provision for (recovery of) accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-1.75K	USD	2 Qtrs
Provision for (recovery of) accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$540.00	USD	2 Qtrs
Provision for inventory reserves	`InventoryWriteDown`	-	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	$126.34K	USD	2 Qtrs
Provision for inventory reserves	`InventoryWriteDown`	-	USD	2 Qtrs
Provision for inventory reserves	`InventoryWriteDown`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$68.40K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$416.64K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$459.82K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.74M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$170.55K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$205.13K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.28M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.19M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-504.27K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-306.15K	USD	2 Qtrs
Cost of other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	2 Qtrs
Cost of other assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.56K	USD	2 Qtrs
Purchases of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$90.95K	USD	2 Qtrs
Purchases of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.80K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-90.95K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.36K	USD	2 Qtrs
Net funds received from (paid to) bank credit lines	`ProceedsFromLinesOfCredit`	$100.80K	USD	2 Qtrs
Net funds received from (paid to) bank credit lines	`ProceedsFromLinesOfCredit`	$644.30K	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$68.22K	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$351.11K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$712.52K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$451.91K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$315.43K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-111.72K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$179.85K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$495.27K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$117.50K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$229.22K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$179.85K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$495.27K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$117.50K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$229.22K	USD	Point-in-time
Cash paid during the period for: Interest	`InterestPaidNet`	$56.54K	USD	2 Qtrs
Cash paid during the period for: Interest	`InterestPaidNet`	$11.71K	USD	2 Qtrs
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$9.14K	USD	2 Qtrs
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$18.96K	USD	2 Qtrs

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