10-Q Filing

WYTEC INTERNATIONAL INC CIK: 1560143 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001683168-17-002960`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	wytc-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 68 Cash Flow Statement 54

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.06K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.43K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.32K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$21.09K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Related party receivable, CCI, net of allowance of $391,002	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Related party receivable, CCI, net of allowance of $391,002	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.26M	USD	Point-in-time
Telecommunication equipment and computers	`FurnitureAndFixturesGross`	$1.06M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Telecommunication equipment and computers	`FurnitureAndFixturesGross`	$1.07M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Construction in process	`ConstructionInProgressGross`	$377.77K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Construction in process	`ConstructionInProgressGross`	$363.78K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.51M	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.45M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.20M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.06M	shares	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$482.89K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$639.20K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.44M	shares	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$943.57K	USD	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$812.42K	USD	Point-in-time
Total Assets	`Assets`	$3.73M	USD	Point-in-time
Total Assets	`Assets`	$3.07M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$119.05K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$172.56K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.79M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.91M	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 authorized, 26,509,507 and 25,195,333 issued, 2,435,059 and 1,060,885 outstanding	`CommonStockValue`	$25.20K	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 authorized, 26,509,507 and 25,195,333 issued, 2,435,059 and 1,060,885 outstanding	`CommonStockValue`	$26.51K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$17.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.27M	USD	Point-in-time
Treasury stock, 24,134,448 and 24,134,448 shares, at cost	`TreasuryStockValue`	$5.10M	USD	Point-in-time
Treasury stock, 24,134,448 and 24,134,448 shares, at cost	`TreasuryStockValue`	$5.10M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-10.47M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-13.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.62M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.73M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.07M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$55.01K	USD	1 Quarter
Net sales	`Revenues`	$36.30K	USD	3 Qtrs
Net sales	`Revenues`	$12.15K	USD	1 Quarter
Net sales	`Revenues`	$93.05K	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$243.00	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	$55.01K	USD	1 Quarter
Gross profit	`GrossProfit`	$93.05K	USD	3 Qtrs
Gross profit	`GrossProfit`	$36.06K	USD	3 Qtrs
Gross profit	`GrossProfit`	$12.15K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$778.79K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.44M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.17M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.85K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.52K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.94K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.32K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$51.46K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$152.05K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$157.48K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.60K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$831.57K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.22M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.34M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.61M	USD	3 Qtrs
Operating (loss)	`OperatingIncomeLoss`	$-2.57M	USD	3 Qtrs
Operating (loss)	`OperatingIncomeLoss`	$-776.56K	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Operating (loss)	`OperatingIncomeLoss`	$-2.25M	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	$1.05K	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	$48.00	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$25.00	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	$142.00	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	$9.00	USD	1 Quarter
Other expense	`OtherExpenses`	$2.26K	USD	1 Quarter
Other expense	`OtherExpenses`	$2.26K	USD	3 Qtrs
Other expense	`OtherExpenses`	-	USD	1 Quarter
Other expense	`OtherExpenses`	-	USD	3 Qtrs
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-2.23K	USD	3 Qtrs
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$1.19K	USD	3 Qtrs
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$48.00	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-2.25K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.25M	USD	3 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.21M	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.57M	USD	3 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-778.81K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net (Loss)	`NetIncomeLoss`	$-1.21M	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-2.57M	USD	3 Qtrs
Net (Loss)	`NetIncomeLoss`	$-2.25M	USD	3 Qtrs
Net (Loss)	`NetIncomeLoss`	$-778.81K	USD	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	298,438.00	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.86M	shares	3 Qtrs
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	338,377.00	shares	3 Qtrs
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.32M	shares	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-1.38	USD	3 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.52	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-6.65	USD	3 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-2.61	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-1.21M	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-2.57M	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-2.25M	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-778.81K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$51.46K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$152.05K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$157.48K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.60K	USD	1 Quarter
Loss (Gain) on sale of assets	`GainLossOnSaleOfOtherAssets`	$1.05K	USD	3 Qtrs
Loss (Gain) on sale of assets	`GainLossOnSaleOfOtherAssets`	$-4.26K	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$545.00	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Warrants issued for services	`WarrantsIssuedForServices`	$58.80K	USD	3 Qtrs
Warrants issued for services	`WarrantsIssuedForServices`	$2.73K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.69K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-370.00	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.76K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$600.00	USD	3 Qtrs
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	3 Qtrs
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$375.46K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-117.45K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-53.51K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$22.50K	USD	3 Qtrs
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.56M	USD	3 Qtrs
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.42M	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.28K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.25K	USD	3 Qtrs
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.25K	USD	3 Qtrs
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.28K	USD	3 Qtrs
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$4.39M	USD	3 Qtrs
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$120.00K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.79M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$48.75K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.91M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.44M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.87M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-527.50K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.92M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.92M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Interest paid in cash	`InterestPaidNet`	-	USD	3 Qtrs
Interest paid in cash	`InterestPaidNet`	-	USD	3 Qtrs
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$3.63M	USD	3 Qtrs
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$140.00K	USD	3 Qtrs
Issuance of registered link and equipment for deferred revenue obligations	`IssuanceOfRegisteredLinkAndEquipmentForDeferredRevenueObligations`	$70.00K	USD	3 Qtrs
Issuance of registered link and equipment for deferred revenue obligations	`IssuanceOfRegisteredLinkAndEquipmentForDeferredRevenueObligations`	-	USD	3 Qtrs
Exchange of related party receivable for treasury stock	`ExchangeOfRelatedPartyReceivableForTreasuryStock`	$256.90K	USD	3 Qtrs
Exchange of related party receivable for treasury stock	`ExchangeOfRelatedPartyReceivableForTreasuryStock`	-	USD	3 Qtrs

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