10-Q Filing

WYTEC INTERNATIONAL INC CIK: 1560143 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001683168-18-003402`
Period End Date	20180930
Filing Date	20181114
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	wytc-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 56 Cash Flow Statement 50

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.24M	USD	Point-in-time
Cash	`Cash`	$2.77M	USD	Point-in-time
Cash	`Cash`	$3.50M	USD	Point-in-time
Cash	`Cash`	$1.72M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$702.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$713.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.66K	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`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	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`	$1.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.51M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$307.67K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$164.59K	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`	$320.32K	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 authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$320.32K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$275.02K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.39M	shares	Point-in-time
Total Assets	`Assets`	$2.21M	USD	Point-in-time
Total Assets	`Assets`	$4.09M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.86M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.26M	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`	$388.84K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$108.35K	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`	$1.86M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.14M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 28,390,830 shares and 27,990,725 shares issued, 4,256,382 shares and 3,856,277 shares outstanding	`CommonStockValue`	$27.99K	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 28,390,830 shares and 27,990,725 shares issued, 4,256,382 shares and 3,856,277 shares outstanding	`CommonStockValue`	$28.39K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.95M	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`	$-16.28M	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`	$351.63K	USD	Point-in-time
Total stockholders' (deficit)	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$4.09M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$2.21M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$70.56K	USD	1 Quarter
Revenue	`Revenues`	$259.20K	USD	3 Qtrs
Revenue	`Revenues`	$36.30K	USD	3 Qtrs
Revenue	`Revenues`	$12.15K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$170.24K	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$88.76K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	-	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$243.00	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-18.20K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$36.06K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$88.96K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$12.15K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$695.67K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.17M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.44M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$7.85K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$23.56K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.52K	USD	1 Quarter
Depreciation	`Depreciation`	$52.60K	USD	1 Quarter
Depreciation	`Depreciation`	$157.48K	USD	3 Qtrs
Depreciation	`Depreciation`	$54.14K	USD	1 Quarter
Depreciation	`Depreciation`	$161.75K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.22M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.22M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.61M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$752.06K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-770.26K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-2.57M	USD	3 Qtrs
Net loss from operations	`OperatingIncomeLoss`	$-2.13M	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	$1.05K	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$144.00	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	$48.00	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$142.00	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	$48.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$48.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$48.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$1.19K	USD	3 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$144.00	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.57M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.13M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-770.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.21M	USD	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.17M	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`	4.04M	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`	$-0.52	USD	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`	$-0.53	USD	3 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.57M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.13M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-770.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$157.48K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$161.75K	USD	3 Qtrs
(Gain on) sale of assets	`GainLossOnDispositionOfAssets1`	$1.05K	USD	3 Qtrs
(Gain on) sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
(Gain on) sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
(Gain on) sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Stock based payments	`ShareBasedCompensation`	$58.80K	USD	3 Qtrs
Stock based payments	`ShareBasedCompensation`	$16.07K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-370.00	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.00	USD	3 Qtrs
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.76K	USD	3 Qtrs
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-8.33K	USD	3 Qtrs
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	3 Qtrs
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-280.49K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-53.51K	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.23M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.42M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$25.28K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$18.66K	USD	3 Qtrs
Purchase of construction in process equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Purchase of construction in process equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.30K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-63.97K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.28K	USD	3 Qtrs
Proceeds from the issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	3 Qtrs
Proceeds from the 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`	$517.15K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.91M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$517.15K	USD	3 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-527.50K	USD	3 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-1.77M	USD	3 Qtrs
Cash - beginning	`Cash`	$2.24M	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`	$1.72M	USD	Point-in-time
Cash - ending	`Cash`	$2.24M	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`	$1.72M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Issuance of preferred stock in exchange for deferred revenue obligation	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$140.00K	USD	3 Qtrs
Issuance of preferred stock in exchange for deferred revenue obligation	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	-	USD	3 Qtrs

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