10-Q Filing

FIEE, INC. CIK: 1467761 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-005766`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	zmtp-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$173.60K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$173.60K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$771.76K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$397.71K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$800.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$800.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	35.07M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	35.36M	shares	Point-in-time
Accounts receivable, net of allowance of doubtful accounts of $173,603 as of March 31, 2021 and December 31, 2020	`AccountsReceivableNetCurrent`	$8.65M	USD	Point-in-time
Accounts receivable, net of allowance of doubtful accounts of $173,603 as of March 31, 2021 and December 31, 2020	`AccountsReceivableNetCurrent`	$9.20M	USD	Point-in-time
Inventories, net	`InventoryNet`	$16.50M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	35.07M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	35.36M	shares	Point-in-time
Inventories, net	`InventoryNet`	$17.98M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$402.74K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$399.12K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.68M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$455.07K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$646.26K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$68.03K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$86.95K	USD	Point-in-time
Goodwill	`Goodwill`	$58.87K	USD	Point-in-time
Goodwill	`Goodwill`	$58.87K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$360.96K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$388.63K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$942.40K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$974.02K	USD	Point-in-time
Total assets	`Assets`	$30.34M	USD	Point-in-time
Total assets	`Assets`	$29.61M	USD	Point-in-time
Bank credit line	`LinesOfCreditCurrent`	$6.92M	USD	Point-in-time
Bank credit line	`LinesOfCreditCurrent`	$2.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.05M	USD	Point-in-time
Current maturities of government loan	`LoansPayableCurrent`	$60.47K	USD	Point-in-time
Current maturities of government loan	`LoansPayableCurrent`	$65.22K	USD	Point-in-time
Current maturities of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$65.65K	USD	Point-in-time
Current maturities of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$60.37K	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$4.95M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$7.47M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$110.22K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.15M	USD	Point-in-time
Long term government loan, less current maturities	`LongTermLoansPayable`	-	USD	Point-in-time
Long term government loan, less current maturities	`LongTermLoansPayable`	$15.24K	USD	Point-in-time
Operating lease liabilities, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$22.23K	USD	Point-in-time
Operating lease liabilities, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$9.01K	USD	Point-in-time
Deferred revenue noncurrent	`DeferredRevenueNoncurrent`	$154.68K	USD	Point-in-time
Deferred revenue noncurrent	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$22.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.82M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock: Authorized: 40,000,000 shares at $0.01 par value; issued and outstanding: 35,362,854 shares at March 31, 2021 and 35,074,922 shares at December 31, 2020, respectively	`CommonStockValue`	$353.63K	USD	Point-in-time
Common stock: Authorized: 40,000,000 shares at $0.01 par value; issued and outstanding: 35,362,854 shares at March 31, 2021 and 35,074,922 shares at December 31, 2020, respectively	`CommonStockValue`	$350.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$65.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.63M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.79M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$29.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$30.34M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$11.96M	USD	1 Quarter
Net sales	`Revenues`	$15.02M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$8.86M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$9.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.10M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$2.35M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$3.17M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.08M	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`	$1.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.64M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.83M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-739.72K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-535.70K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-5.40K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-28.32K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$20.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-449.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.85K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-8.32K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-745.56K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-544.02K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$6.32K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-751.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-545.52K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.25M	shares	1 Quarter
Basic and diluted weighted average common and common equivalent shares	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.08M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-751.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-545.52K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$167.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$59.40K	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$18.92K	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$25.08K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$127.05K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$404.72K	USD	1 Quarter
Provision for recovery of accounts receivable allowances	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for recovery of accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-4.20K	USD	1 Quarter
Non-cash loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$20.00K	USD	1 Quarter
Non-cash loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$2.42K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-557.31K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.87M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.26M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.62K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-32.37K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$104.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.37M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.20M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.81M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$10.15K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$228.44K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-18.51K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-25.08K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.97M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.34M	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.02K	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$257.56K	USD	1 Quarter
Certification costs incurred and capitalized	`IncreaseDecreaseInOtherCurrentAssets`	$20.00K	USD	1 Quarter
Certification costs incurred and capitalized	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.02K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-257.56K	USD	1 Quarter
Net proceeds from (payments to) bank credit lines	`ProceedsFromRepaymentsOfLinesOfCredit`	$387.30K	USD	1 Quarter
Net proceeds from (payments to) bank credit lines	`ProceedsFromRepaymentsOfLinesOfCredit`	$4.57M	USD	1 Quarter
Cash paid for SVB Loan Agreement origination costs	`LoanProcessingFee`	-	USD	1 Quarter
Cash paid for SVB Loan Agreement origination costs	`LoanProcessingFee`	$-92.91K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$379.15K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$197.66K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.85M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$584.96K	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-789.28K	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-374.04K	USD	1 Quarter
Cash, cash equivalents, and restricted cash - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.37M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.57M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$577.61K	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.37M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.57M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$577.61K	USD	Point-in-time
Cash, cash equivalents, and restricted cash - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20M	USD	Point-in-time
Cash paid during the period for: interest	`InterestPaidNet`	$25.95K	USD	1 Quarter
Cash paid during the period for: interest	`InterestPaidNet`	$5.71K	USD	1 Quarter
Cash paid during the period for: income taxes	`IncomeTaxesPaidNet`	$6.32K	USD	1 Quarter
Cash paid during the period for: income taxes	`IncomeTaxesPaidNet`	$1.50K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$7.79M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$5.68M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$6.11M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$8.03M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-751.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-545.52K	USD	1 Quarter
Stock option exercise, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$379.15K	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`	$404.72K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$7.79M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$5.68M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$6.11M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$8.03M	USD	Point-in-time

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