10-K/A Filing

WYTEC INTERNATIONAL INC CIK: 1560143 FY 2018

Filing Information

Form Type	10-K/A
Accession Number	`0001683168-19-000995`
Period End Date	20181231
Filing Date	20190411
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	wytc-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 30 Cash Flow Statement 50 Stockholders Equity 13

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.77M	USD	Point-in-time
Cash	`Cash`	$1.72M	USD	Point-in-time
Cash	`Cash`	$3.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$23.46K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$702.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.43K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Related party receivable, CCI, net of allowance of $419,433	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Related party receivable, CCI, net of allowance of $419,433	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.45K	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
Construction in process, net	`MaterialsSuppliesAndOther`	$144.99K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Construction in process, net	`MaterialsSuppliesAndOther`	$275.02K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$275.02K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$144.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.11M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.86M	shares	Point-in-time
Total Assets	`Assets`	$4.09M	USD	Point-in-time
Total Assets	`Assets`	$2.09M	USD	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`	$228.46K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$388.84K	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.32M	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.55M	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`	$1.55M	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 29,106,998 shares and 27,990,725 shares issued, 4,972,550 and 3,856,277 shares outstanding	`CommonStockValue`	$27.99K	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 29,106,998 shares and 27,990,725 shares issued, 4,972,550 and 3,856,277 shares outstanding	`CommonStockValue`	$29.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	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`	$-17.26M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-14.14M	USD	Point-in-time
Treasury stock: Common stock, at cost, 24,134,448 shares and 24,134,448 shares	`TreasuryStockCommonValue`	$5.10M	USD	Point-in-time
Treasury stock: Common stock, at cost, 24,134,448 shares and 24,134,448 shares	`TreasuryStockCommonValue`	$5.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$543.01K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.09M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$48.65K	USD	Annual
Revenue	`Revenues`	$305.71K	USD	Annual
Cost of sales	`CostOfRevenue`	$201.28K	USD	Annual
Cost of sales	`CostOfRevenue`	$550.00	USD	Annual
Gross profit	`GrossProfit`	$48.10K	USD	Annual
Gross profit	`GrossProfit`	$104.43K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.32M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.89M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$10.86K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$23.74K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$184.36K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$210.36K	USD	Annual
Operating expenses, net	`OperatingExpenses`	$3.09M	USD	Annual
Operating expenses, net	`OperatingExpenses`	$3.54M	USD	Annual
Net operating loss	`OperatingIncomeLoss`	$-2.99M	USD	Annual
Net operating loss	`OperatingIncomeLoss`	$-3.49M	USD	Annual
Interest income	`InterestIncomeOperating`	$192.00	USD	Annual
Interest income	`InterestIncomeOperating`	$190.00	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$132.61K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$183.16K	USD	Annual
Gain loss on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Gain loss on sale of assets	`GainLossOnDispositionOfAssets1`	$1.05K	USD	Annual
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-132.42K	USD	Annual
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-181.92K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.67M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.12M	USD	Annual
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.05M	shares	Annual
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.19M	shares	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.74	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-1.79	USD	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.67M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.12M	USD	Annual
Depreciation	`Depreciation`	$184.36K	USD	Annual
Depreciation	`Depreciation`	$210.36K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$132.61K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$183.16K	USD	Annual
(Gain) on asset disposal	`GainLossOnSaleOfOtherAssets`	-	USD	Annual
(Gain) on asset disposal	`GainLossOnSaleOfOtherAssets`	$1.05K	USD	Annual
Stock based payments	`ShareBasedCompensation`	$16.07K	USD	Annual
Stock based payments	`ShareBasedCompensation`	$210.97K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-732.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.76K	USD	Annual
Related party receivables	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	Annual
Related party receivables	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.57K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-319.00	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-160.38K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$216.28K	USD	Annual
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-35.00K	USD	Annual
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.85M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.00M	USD	Annual
Purchase of construction in progress equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$2.59K	USD	Annual
Purchase of construction in progress equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$31.59K	USD	Annual
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.14K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.59K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-70.73K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.30M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.75M	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$120.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$259.25K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.62M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.30M	USD	Annual
Net increase in cash	`CashPeriodIncreaseDecrease`	$729.74K	USD	Annual
Net increase in cash	`CashPeriodIncreaseDecrease`	$-1.78M	USD	Annual
Cash - beginning	`Cash`	$2.77M	USD	Point-in-time
Cash - beginning	`Cash`	$1.72M	USD	Point-in-time
Cash - beginning	`Cash`	$3.50M	USD	Point-in-time
Cash - ending	`Cash`	$2.77M	USD	Point-in-time
Cash - ending	`Cash`	$1.72M	USD	Point-in-time
Cash - ending	`Cash`	$3.50M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$175.00K	USD	Annual
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$400.00K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.62M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$543.01K	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95M	USD	Point-in-time
Stock based payments for services	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$210.97K	USD	Annual
Stock based payments for services	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.07K	USD	Annual
Issuance of series B preferred stock, value	`StockIssuedDuringPeriodValueOther`	$120.00K	USD	Annual
Issuance of series B preferred stock for link exchange, value	`IssuanceOfSeriesBPreferredStockForLinkExchangeValue`	$175.00K	USD	Annual
Stock issued new, value	`StockIssuedDuringPeriodValueNewIssues`	$1.70M	USD	Annual
Stock issued new, value	`StockIssuedDuringPeriodValueNewIssues`	$3.75M	USD	Annual
Purchase of treasury stock, value	`StockRepurchasedDuringPeriodValue`	$259.25K	USD	Annual
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.62M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$543.01K	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95M	USD	Point-in-time

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