10-Q Filing

FIEE, INC. CIK: 1467761 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001654954-19-006124`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	zmtp-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 38 Cash Flow Statement 50 Stockholders Equity 14

Balance Sheet 56 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
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$125.98K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$423.19K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$115.59K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$229.22K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	16.12M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	16.16M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.76M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.19M	USD	Point-in-time
Inventories	`InventoryNet`	$6.48M	USD	Point-in-time
Inventories	`InventoryNet`	$7.93M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	16.16M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	16.12M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$918.59K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$606.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.39M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$222.16K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$311.66K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$274.66K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$228.77K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$261.48K	USD	Point-in-time
Total assets	`Assets`	$11.21M	USD	Point-in-time
Total assets	`Assets`	$12.22M	USD	Point-in-time
Bank debt	`BankLoans`	$2.12M	USD	Point-in-time
Bank debt	`BankLoans`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.37M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$205.96K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Accrued other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.37M	USD	Point-in-time
Accrued other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.19M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$85.11K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.27M	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: 16,162,181 shares at March 31, 2019 and 16,124,681 shares at December 31, 2018	`CommonStockValue`	$161.62K	USD	Point-in-time
Common stock: Authorized: 25,000,000 shares at $0.01 par value Issued and outstanding: 16,162,181 shares at March 31, 2019 and 16,124,681 shares at December 31, 2018	`CommonStockValue`	$161.25K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$41.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$41.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-37.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.72M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.94M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.21M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.22M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$8.01M	USD	1 Quarter
Net sales	`Revenues`	$8.34M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$5.59M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$5.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.28M	USD	1 Quarter
Selling	`SellingExpense`	$2.05M	USD	1 Quarter
Selling	`SellingExpense`	$2.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$567.80K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$448.08K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$410.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$482.40K	USD	1 Quarter
Total	`OperatingExpenses`	$2.91M	USD	1 Quarter
Total	`OperatingExpenses`	$3.50M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$368.50K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.08M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$104.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$35.00	USD	1 Quarter
Interest expense	`InterestExpense`	$6.17K	USD	1 Quarter
Interest expense	`InterestExpense`	$32.22K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$43.00	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.75K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-6.02K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-33.93K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.11M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$362.48K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$7.79K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$3.60K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$358.88K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Basic weighted average common and common equivalent shares	`WeightedAverageNumberOfSharesOutstandingBasic`	16.14M	shares	1 Quarter
Basic weighted average common and common equivalent shares	`WeightedAverageNumberOfSharesOutstandingBasic`	15.73M	shares	1 Quarter
Diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.51M	shares	1 Quarter
Diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.14M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$358.88K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$97.99K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$78.20K	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$120.90K	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$33.80K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$175.01K	USD	1 Quarter
Provision for (recovery of) accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-185.00	USD	1 Quarter
Provision for (recovery of) accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$1.94K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	-	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	$23.96K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$430.02K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$606.42K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$177.63K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.42M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-312.54K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$487.07K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	-	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-129.83K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-713.27K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$920.75K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-260.61K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$140.12K	USD	1 Quarter
Cost of other assets	`IncreaseDecreaseInOtherCurrentAssets`	$135.00K	USD	1 Quarter
Cost of other assets	`IncreaseDecreaseInOtherCurrentAssets`	$40.00K	USD	1 Quarter
Purchases of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.91K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.91K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-135.00K	USD	1 Quarter
Net proceeds from (payments to) bank credit lines	`ProceedsFromLinesOfCredit`	$-39.71K	USD	1 Quarter
Net proceeds from (payments to) bank credit lines	`ProceedsFromLinesOfCredit`	$380.11K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$152.46K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$5.10K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$385.21K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$112.76K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$193.97K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.40K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$125.98K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$423.19K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$115.59K	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`	$125.98K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$423.19K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$115.59K	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`	$32.22K	USD	1 Quarter
Cash paid during the period for: Interest	`InterestPaidNet`	$6.17K	USD	1 Quarter
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$3.60K	USD	1 Quarter
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$7.79K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$3.88M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.72M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.17M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$2.94M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$358.88K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Stock option exercise, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$152.46K	USD	1 Quarter
Stock option exercise, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.10K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$33.80K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$175.01K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$3.88M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.72M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.17M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$2.94M	USD	Point-in-time

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