10-Q Filing

FIEE, INC. CIK: 1467761 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-005627`
Period End Date	20200331
Filing Date	20200515
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	zmtp-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 34 Cash Flow Statement 54 Stockholders Equity 14

Balance Sheet 53 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`	$1.22M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.61K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$150.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.93M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	21.28M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$550.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.95M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.93M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	21.28M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.07M	USD	Point-in-time
Inventories	`InventoryNet`	$4.18M	USD	Point-in-time
Inventories	`InventoryNet`	$7.44M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$269.74K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$237.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$349.33K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$345.00K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$102.72K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$77.63K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$281.05K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$303.10K	USD	Point-in-time
Total assets	`Assets`	$11.64M	USD	Point-in-time
Total assets	`Assets`	$13.90M	USD	Point-in-time
Bank credit line	`LinesOfCreditCurrent`	$387.30K	USD	Point-in-time
Bank credit line	`LinesOfCreditCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.02M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$77.63K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$102.72K	USD	Point-in-time
Accrued other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.67M	USD	Point-in-time
Accrued other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.79M	USD	Point-in-time
Common stock: authorized: 40,000,000 shares at $0.01 par value, Issued and outstanding: 21,276,762 shares at March 31, 2020 and 20,929,928 shares at December 31, 2019	`CommonStockValue`	$209.30K	USD	Point-in-time
Common stock: authorized: 40,000,000 shares at $0.01 par value, Issued and outstanding: 21,276,762 shares at March 31, 2020 and 20,929,928 shares at December 31, 2019	`CommonStockValue`	$212.77K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$46.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$46.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.94M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.64M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$11.96M	USD	1 Quarter
Net sales	`Revenues`	$8.01M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$8.86M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$5.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.42M	USD	1 Quarter
Selling	`SellingExpense`	$2.35M	USD	1 Quarter
Selling	`SellingExpense`	$2.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$567.80K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$827.94K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$652.75K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$482.40K	USD	1 Quarter
Total	`OperatingExpenses`	$3.83M	USD	1 Quarter
Total	`OperatingExpenses`	$3.50M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.08M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-739.72K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$314.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$35.00	USD	1 Quarter
Interest expense	`InterestExpense`	$32.22K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.71K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-449.00	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.75K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-33.93K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.85K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.11M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-745.56K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$7.79K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$6.32K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-751.88K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.14M	shares	1 Quarter
Basic and diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.08M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-751.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$59.40K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$78.20K	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$25.08K	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$120.90K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$127.05K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$175.01K	USD	1 Quarter
Provision for (recovery of) accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$1.94K	USD	1 Quarter
Provision for (recovery of) accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-4.20K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	$23.96K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.87M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$430.02K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.26M	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`	$-32.37K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-129.83K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-25.08K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.19M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-713.27K	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`	$-1.34M	USD	1 Quarter
Certification costs incurred and capitalized	`IncreaseDecreaseInOtherCurrentAssets`	$135.00K	USD	1 Quarter
Certification costs incurred and capitalized	`IncreaseDecreaseInOtherCurrentAssets`	$20.00K	USD	1 Quarter
Purchases of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.02K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.02K	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`	$380.11K	USD	1 Quarter
Net proceeds from (payments to) bank credit lines	`ProceedsFromLinesOfCredit`	$387.30K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$197.66K	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`	$584.96K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.40K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-789.28K	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$125.98K	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$577.61K	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$115.59K	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$125.98K	USD	Point-in-time
Cash and cash equivalents at end of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$577.61K	USD	Point-in-time
Cash and cash equivalents at end of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$115.59K	USD	Point-in-time
Cash and cash equivalents at end of period	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.37M	USD	Point-in-time
Cash paid during the period for: Interest	`InterestPaidNet`	$5.71K	USD	1 Quarter
Cash paid during the period for: Interest	`InterestPaidNet`	$32.22K	USD	1 Quarter
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$7.79K	USD	1 Quarter
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$6.32K	USD	1 Quarter
Total Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$125.98K	USD	Point-in-time
Total Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$577.61K	USD	Point-in-time
Total Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$115.59K	USD	Point-in-time
Total Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.37M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$6.11M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.88M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$5.68M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$2.94M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-751.88K	USD	1 Quarter
Stock option exercise, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.10K	USD	1 Quarter
Stock option exercise, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$197.66K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$127.05K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$175.01K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$6.11M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.88M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$5.68M	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.