10-Q Filing

WYTEC INTERNATIONAL INC CIK: 1560143 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001683168-18-001266`
Period End Date	20180331
Filing Date	20180511
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	wytc-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 28 Cash Flow Statement 42

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.60M	USD	Point-in-time
Cash	`Cash`	$3.50M	USD	Point-in-time
Cash	`Cash`	$2.77M	USD	Point-in-time
Cash	`Cash`	$3.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$702.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$110.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.48K	USD	Point-in-time
Related party receivable, CCI, net of allowance of $419,433 and $415,952	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Related party receivable, CCI, net of allowance of $419,433 and $415,952	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$307.67K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$265.56K	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
Construction in process	`MaterialsSuppliesAndOther`	$277.12K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Construction in process	`MaterialsSuppliesAndOther`	$275.02K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.99M	shares	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$277.12K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$275.02K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.11M	shares	Point-in-time
Total Assets	`Assets`	$4.09M	USD	Point-in-time
Total Assets	`Assets`	$3.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.86M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.98M	shares	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$93.28K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$388.84K	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.75M	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.85M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.85M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.14M	USD	Point-in-time
Common stock, $.001 par value, 495,000,000 shares authorized, 28,113,472 shares and 27,990,725 shares issued, 3,979,024 shares and 3,856,277 shares outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.99K	USD	Point-in-time
Common stock, $.001 par value, 495,000,000 shares authorized, 28,113,472 shares and 27,990,725 shares issued, 3,979,024 shares and 3,856,277 shares outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$28.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.65M	USD	Point-in-time
Receivable for issuance of common stock	`OtherReceivables`	$233.62K	USD	Point-in-time
Receivable for issuance of common stock	`OtherReceivables`	-	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-14.14M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-14.77M	USD	Point-in-time
Common stock, at cost, 24,134,448 shares	`TreasuryStockCommonValue`	$5.10M	USD	Point-in-time
Common stock, at cost, 24,134,448 shares	`TreasuryStockCommonValue`	$5.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.75M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.60M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.09M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$12.04K	USD	1 Quarter
Revenue	`Revenues`	$11.32K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$144.00	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$243.00	USD	1 Quarter
Gross profit	`GrossProfit`	$11.79K	USD	1 Quarter
Gross profit	`GrossProfit`	$11.17K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$501.07K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$578.29K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.27K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.33K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$53.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.33K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$637.21K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$558.73K	USD	1 Quarter
Net operating loss	`OperatingIncomeLoss`	$-626.03K	USD	1 Quarter
Net operating loss	`OperatingIncomeLoss`	$-546.94K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$1.17K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$47.00	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$47.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$1.21K	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$47.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-545.73K	USD	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.95M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.20M	shares	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.45	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-545.73K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$53.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.33K	USD	1 Quarter
(Gain on) sale of asset	`GainLossOnSaleOfOtherAssets`	-	USD	1 Quarter
(Gain on) sale of asset	`GainLossOnSaleOfOtherAssets`	$1.17K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-592.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-780.00	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.87K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.52K	USD	1 Quarter
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	1 Quarter
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$328.14K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-295.55K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-25.91K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-865.77K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-843.97K	USD	1 Quarter
Purchase of construction in progress equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of construction in progress equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.11K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$10.92K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$11.54K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.92K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.65K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$689.05K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$430.36K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$430.36K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$689.05K	USD	1 Quarter
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-165.84K	USD	1 Quarter
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-449.06K	USD	1 Quarter
Cash - beginning	`Cash`	$2.60M	USD	Point-in-time
Cash - beginning	`Cash`	$3.50M	USD	Point-in-time
Cash - beginning	`Cash`	$2.77M	USD	Point-in-time
Cash - beginning	`Cash`	$3.05M	USD	Point-in-time
Cash - ending	`Cash`	$2.60M	USD	Point-in-time
Cash - ending	`Cash`	$3.50M	USD	Point-in-time
Cash - ending	`Cash`	$2.77M	USD	Point-in-time
Cash - ending	`Cash`	$3.05M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	-	USD	1 Quarter
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$35.00K	USD	1 Quarter

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