10-Q Filing

WYTEC INTERNATIONAL INC CIK: 1560143 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001683168-19-001507`
Period End Date	20190331
Filing Date	20190514
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	wytc-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 26 Cash Flow Statement 40 Stockholders Equity 12

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.04M	USD	Point-in-time
Cash	`Cash`	$3.50M	USD	Point-in-time
Cash	`Cash`	$1.72M	USD	Point-in-time
Cash	`Cash`	$3.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$23.46K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$23.88K	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$39.08K	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.43K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100,000.00	shares	Point-in-time
Related party receivable, CCI, net of allowance of $419,433	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100,000.00	shares	Point-in-time
Related party receivable, CCI, net of allowance of $419,433	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.45K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$166.95K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Operating lease, right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease, right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$377.64K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Construction in process	`ConstructionInProgressGross`	$156.35K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.14M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.11M	shares	Point-in-time
Construction in process	`ConstructionInProgressGross`	$144.99K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$156.35K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$144.99K	USD	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Total Assets	`Assets`	$1.81M	USD	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Total Assets	`Assets`	$2.09M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$228.46K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$78.53K	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.32M	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.32M	USD	Point-in-time
Operating lease, right-of-use obligatin, current portion	`OperatingLeaseLiabilityCurrent`	$122.17K	USD	Point-in-time
Operating lease, right-of-use obligatin, current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.52M	USD	Point-in-time
Operating lease, right-of-use obligation, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$255.48K	USD	Point-in-time
Operating lease, right-of-use obligation, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$255.48K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.78M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.55M	USD	Point-in-time
Common stock, $.001 par value, 495,000,000 shares authorized, 29,135,138 shares and 29,106,998 shares issued, 5,000,690 shares and 4,972,550 shares outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$29.14K	USD	Point-in-time
Common stock, $.001 par value, 495,000,000 shares authorized, 29,135,138 shares and 29,106,998 shares issued, 5,000,690 shares and 4,972,550 shares outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$29.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.25M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-17.89M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-17.26M	USD	Point-in-time
Common stock, at cost, 24,134,448 shares and 24,134,448 shares	`TreasuryStockCommonValue`	$5.10M	USD	Point-in-time
Common stock, at cost, 24,134,448 shares and 24,134,448 shares	`TreasuryStockCommonValue`	$5.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.08K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$543.01K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.75M	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`	$1.81M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$11.32K	USD	1 Quarter
Revenue	`Revenues`	$37.72K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$12.73K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$144.00	USD	1 Quarter
Gross profit	`GrossProfit`	$11.17K	USD	1 Quarter
Gross profit	`GrossProfit`	$24.99K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$578.29K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$601.51K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.27K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$53.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$651.01K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$637.21K	USD	1 Quarter
Net operating loss	`OperatingIncomeLoss`	$-626.03K	USD	1 Quarter
Net operating loss	`OperatingIncomeLoss`	$-626.03K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$47.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$47.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$47.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$47.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-625.98K	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`	4.99M	shares	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$53.65K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-592.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$416.00	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.52K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$28.66K	USD	1 Quarter
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	1 Quarter
Related party receivable, CCI	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-295.55K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-149.93K	USD	1 Quarter
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-755.48K	USD	1 Quarter
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-865.77K	USD	1 Quarter
Purchase of construction in process equipment	`PaymentsToAcquireMachineryAndEquipment`	$11.35K	USD	1 Quarter
Purchase of construction in process equipment	`PaymentsToAcquireMachineryAndEquipment`	$2.11K	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.54K	USD	1 Quarter
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.35K	USD	1 Quarter
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.65K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$430.36K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$90.05K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$430.36K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$90.05K	USD	1 Quarter
Net (decrease) in cash	`CashPeriodIncreaseDecrease`	$-676.79K	USD	1 Quarter
Net (decrease) in cash	`CashPeriodIncreaseDecrease`	$-449.06K	USD	1 Quarter
Cash - beginning	`Cash`	$1.04M	USD	Point-in-time
Cash - beginning	`Cash`	$3.50M	USD	Point-in-time
Cash - beginning	`Cash`	$1.72M	USD	Point-in-time
Cash - beginning	`Cash`	$3.05M	USD	Point-in-time
Cash - ending	`Cash`	$1.04M	USD	Point-in-time
Cash - ending	`Cash`	$3.50M	USD	Point-in-time
Cash - ending	`Cash`	$1.72M	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	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Issuance of common stock in exchange for registered link and equipment	`StockIssued1`	$-25.00K	USD	1 Quarter
Issuance of common stock in exchange for registered link and equipment	`StockIssued1`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$32.08K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$543.01K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.75M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.95M	USD	Point-in-time
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$115.05K	USD	1 Quarter
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$430.36K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$32.08K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$543.01K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$1.75M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$1.95M	USD	Point-in-time

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