10-Q Filing

WYTEC INTERNATIONAL INC CIK: 1560143 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001683168-18-002293`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	wytc-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 56 Cash Flow Statement 46

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.33M	USD	Point-in-time
Cash	`Cash`	$2.77M	USD	Point-in-time
Cash	`Cash`	$3.50M	USD	Point-in-time
Cash	`Cash`	$2.93M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$702.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$180.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.39K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.00K	USD	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
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
Total current assets	`AssetsCurrent`	$2.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.51M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$214.49K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$307.67K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Construction in process	`MaterialsSuppliesAndOther`	$318.32K	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 issued	`CommonStockSharesIssued`	27.99M	shares	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$275.02K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$318.32K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.13M	shares	Point-in-time
Total Assets	`Assets`	$3.06M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.86M	shares	Point-in-time
Total Assets	`Assets`	$4.09M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.99M	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`	$212.84K	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`	$1.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.14M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.97M	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 28,127,380 shares and 27,990,725 shares issued, 3,992,932 shares and 3,856,277 shares outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$28.13K	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 28,127,380 shares and 27,990,725 shares issued, 3,992,932 shares and 3,856,277 shares outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.92M	USD	Point-in-time
Receivable for issuance of common stock	`OtherReceivables`	-	USD	Point-in-time
Receivable for issuance of common stock	`OtherReceivables`	$233.62K	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-14.14M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-15.51M	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' (deficit)	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total stockholders' (deficit)	`StockholdersEquity`	$1.09M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$3.06M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$4.09M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$24.15K	USD	2 Qtrs
Revenue	`Revenues`	$12.11K	USD	1 Quarter
Revenue	`Revenues`	$177.32K	USD	1 Quarter
Revenue	`Revenues`	$188.64K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$81.48K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$81.34K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	-	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$243.00	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$95.98K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$23.91K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$12.11K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$107.15K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$773.56K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.34M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.27M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$761.50K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.03K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$21.30K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$5.33K	USD	2 Qtrs
Depreciation	`Depreciation`	$52.55K	USD	1 Quarter
Depreciation	`Depreciation`	$107.61K	USD	2 Qtrs
Depreciation	`Depreciation`	$53.96K	USD	1 Quarter
Depreciation	`Depreciation`	$104.88K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.47M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$826.11K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.38M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$831.50K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-1.36M	USD	2 Qtrs
Net loss from operations	`OperatingIncomeLoss`	$-735.52K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-813.99K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-1.36M	USD	2 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	$1.05K	USD	2 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	$-118.00	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	2 Qtrs
Interest income	`InterestIncomeOperating`	$96.00	USD	2 Qtrs
Interest income	`InterestIncomeOperating`	$47.00	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$49.00	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$94.00	USD	2 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$96.00	USD	2 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-71.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$1.14K	USD	2 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$49.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-735.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-814.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.98M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.98M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.05M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.63M	shares	2 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.84	USD	2 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.34	USD	2 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-735.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-814.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$104.88K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$107.61K	USD	2 Qtrs
(Gain on) sale of assets	`GainLossOnSaleOfOtherAssets`	-	USD	2 Qtrs
(Gain on) sale of assets	`GainLossOnSaleOfOtherAssets`	$1.17K	USD	2 Qtrs
Stock based payments	`ShareBasedCompensation`	$75.00	USD	2 Qtrs
Stock based payments	`ShareBasedCompensation`	$16.04K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-652.00	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$179.30K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-4.22K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-609.00	USD	2 Qtrs
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$371.03K	USD	2 Qtrs
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.61K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-176.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.62M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.61M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$14.44K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$10.92K	USD	2 Qtrs
Purchase of construction in process equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of construction in process equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.30K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.74K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.92K	USD	2 Qtrs
Proceeds from the issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$120.00K	USD	2 Qtrs
Proceeds from the issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.68M	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$499.90K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$499.90K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.80M	USD	2 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$168.02K	USD	2 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$-1.17M	USD	2 Qtrs
Cash - beginning	`Cash`	$2.33M	USD	Point-in-time
Cash - beginning	`Cash`	$2.77M	USD	Point-in-time
Cash - beginning	`Cash`	$3.50M	USD	Point-in-time
Cash - beginning	`Cash`	$2.93M	USD	Point-in-time
Cash - ending	`Cash`	$2.33M	USD	Point-in-time
Cash - ending	`Cash`	$2.77M	USD	Point-in-time
Cash - ending	`Cash`	$3.50M	USD	Point-in-time
Cash - ending	`Cash`	$2.93M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Issuance of preferred stock in exchange for deferred revenue obligation	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$35.00K	USD	2 Qtrs
Issuance of preferred stock in exchange for deferred revenue obligation	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	-	USD	2 Qtrs

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