10-Q Filing

TELKONET INC CIK: 1094084 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001683168-18-001323`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	tkoi-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 72 Stockholders Equity 9

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.39M	USD	Point-in-time
Restricted cash on deposit	`RestrictedCash`	$810.00K	USD	Point-in-time
Restricted cash on deposit	`RestrictedCash`	$10.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.28M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Inventories	`InventoryNet`	$843.49K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.26M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	133.99M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNet`	-	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNet`	$644.48K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	133.70M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$362.88K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	133.70M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$143.57K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	133.99M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$17.30K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$17.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$304.17K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$294.75K	USD	Point-in-time
Deposits	`DepositsAssets`	$17.13K	USD	Point-in-time
Deposits	`DepositsAssets`	$17.13K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$17.13K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$17.13K	USD	Point-in-time
Total Assets	`Assets`	$12.55M	USD	Point-in-time
Total Assets	`Assets`	$11.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$978.21K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$694.72K	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$601.26K	USD	Point-in-time
Accrued liabilities and expenses	`AccruedLiabilitiesCurrent`	$668.81K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$622.85K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$682.21K	USD	Point-in-time
Contract liabilities-current	`ContractWithCustomerLiabilityCurrent`	$1.48M	USD	Point-in-time
Contract liabilities-current	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Deferred revenues - current	`DeferredRevenueCurrent`	-	USD	Point-in-time
Deferred revenues - current	`DeferredRevenueCurrent`	$292.11K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$124.38K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$190.43K	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	-	USD	Point-in-time
Deferred revenue - long term	`DeferredRevenueNoncurrent`	$219.96K	USD	Point-in-time
Deferred revenue - long term	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred lease liability - long term	`CapitalLeaseObligationsNoncurrent`	$48.84K	USD	Point-in-time
Deferred lease liability - long term	`CapitalLeaseObligationsNoncurrent`	$55.28K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$245.71K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$268.80K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 133,989,919 and 133,695,111 shares issued and outstanding at March 31, 2018 and December 31,2017, respectively	`CommonStockValue`	$133.99K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 133,989,919 and 133,695,111 shares issued and outstanding at March 31, 2018 and December 31,2017, respectively	`CommonStockValue`	$133.69K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.46M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-119.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.53M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.60M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.55M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Total Net Revenue	`Revenues`	$1.91M	USD	1 Quarter
Total Net Revenue	`Revenues`	$1.61M	USD	1 Quarter
Total Cost of Sales	`CostOfRevenue`	$1.04M	USD	1 Quarter
Total Cost of Sales	`CostOfRevenue`	$1.05M	USD	1 Quarter
Gross Profit	`GrossProfit`	$550.96K	USD	1 Quarter
Gross Profit	`GrossProfit`	$875.16K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$378.46K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$438.78K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.91K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.91K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.73M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.16M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.28M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.18M	USD	1 Quarter
Interest (expense), net	`InterestIncomeExpenseNet`	$-2.53K	USD	1 Quarter
Interest (expense), net	`InterestIncomeExpenseNet`	$-10.35K	USD	1 Quarter
Total Other (Expense)	`NonoperatingIncomeExpense`	$-10.35K	USD	1 Quarter
Total Other (Expense)	`NonoperatingIncomeExpense`	$-2.53K	USD	1 Quarter
Loss from Continuing Operations Before Provision (Benefit) for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.18M	USD	1 Quarter
Loss from Continuing Operations Before Provision (Benefit) for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.29M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$991.00	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss from Continuing Operations	`NetIncomeLoss`	$-1.29M	USD	1 Quarter
Net Loss from Continuing Operations	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Gain from sale of discontinued operations (net of tax)	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	-	USD	1 Quarter
Gain from sale of discontinued operations (net of tax)	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$6.38M	USD	1 Quarter
Income from discontinued operations (net of tax)	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$571.80K	USD	1 Quarter
Income from discontinued operations (net of tax)	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Net Income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.18M	USD	1 Quarter
Net Income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.66M	USD	1 Quarter
Basic - continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.01	USD	1 Quarter
Basic - continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.01	USD	1 Quarter
Basic - discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Basic - discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.05	USD	1 Quarter
Basic - net income (loss) attributable to common stockholders	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic - net income (loss) attributable to common stockholders	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Diluted - continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.01	USD	1 Quarter
Diluted - continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.01	USD	1 Quarter
Diluted - discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted - discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.05	USD	1 Quarter
Diluted - net income (loss) attributable to common stockholders	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted - net income (loss) attributable to common stockholders	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Weighted Average Common Shares Outstanding used in computing basic net loss per share	`WeightedAverageNumberOfSharesOutstandingBasic`	133.70M	shares	1 Quarter
Weighted Average Common Shares Outstanding used in computing basic net loss per share	`WeightedAverageNumberOfSharesOutstandingBasic`	132.77M	shares	1 Quarter
Weighted Average Common Shares Outstanding used in computing diluted net loss per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	133.70M	shares	1 Quarter
Weighted Average Common Shares Outstanding used in computing diluted net loss per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	133.52M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.18M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.66M	USD	1 Quarter
Less: Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$571.80K	USD	1 Quarter
Less: Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Gain on sale of discontinued operations	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	-	USD	1 Quarter
Gain on sale of discontinued operations	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$6.38M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.29M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.18M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.53K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$314.69K	USD	1 Quarter
Stock issued to directors as compensation	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$36.00K	USD	1 Quarter
Stock issued to directors as compensation	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$36.00K	USD	1 Quarter
Depreciation	`Depreciation`	$9.91K	USD	1 Quarter
Depreciation	`Depreciation`	$16.91K	USD	1 Quarter
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$-3.36K	USD	1 Quarter
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$17.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$323.64K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-329.37K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-88.48K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-416.05K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractAssets`	$-295.48K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractAssets`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$219.32K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$171.85K	USD	1 Quarter
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	$10.13K	USD	1 Quarter
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$131.87K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-283.49K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-74.14K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-67.55K	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractLiabilities`	$653.19K	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractLiabilities`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$50.31K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-273.64K	USD	1 Quarter
Related party payable	`IncreaseDecreaseInDueToOtherRelatedParties`	-	USD	1 Quarter
Related party payable	`IncreaseDecreaseInDueToOtherRelatedParties`	$-48.38K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$60.79K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDeposits`	$-124.38K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$139.88K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$-987.00	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$6.44K	USD	1 Quarter
Net Cash Used In Operating Activities of Continuing Operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-991.88K	USD	1 Quarter
Net Cash Used In Operating Activities of Continuing Operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.07M	USD	1 Quarter
Net Cash Provided By Operating Activities of Discontinued Operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net Cash Provided By Operating Activities of Discontinued Operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$517.24K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-556.25K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-991.88K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.49K	USD	1 Quarter
Net proceeds from sale of subsidiary	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	$12.43M	USD	1 Quarter
Net proceeds from sale of subsidiary	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	-	USD	1 Quarter
Net Cash Provided by (Used In) Investing Activities of Continuing Operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.49K	USD	1 Quarter
Net Cash Provided by (Used In) Investing Activities of Continuing Operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$12.43M	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$3.28M	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$220.61K	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-4.34M	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-279.97K	USD	1 Quarter
Net Cash (Used in) Financing Activities of Continuing Operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-59.36K	USD	1 Quarter
Net Cash (Used in) Financing Activities of Continuing Operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.06M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.06M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$10.81M	USD	1 Quarter
Cash, cash equivalents and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$791.86K	USD	Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$791.86K	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.60M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$12.23K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$10.48K	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$7.96M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$9.53M	USD	Point-in-time
Cumulative effect of a change in accounting principle related to ASC 606, net of tax	`IncomeTaxEffectsAllocatedDirectlyToEquityCumulativeEffectOfChangeInAccountingPrinciple`	$-430.00K	USD	1 Quarter
Shares issued for director compensation, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$36.00K	USD	1 Quarter
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.53K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.18M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.66M	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$7.96M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$9.53M	USD	Point-in-time

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