10-Q Filing

TELKONET INC CIK: 1094084 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001683168-19-001531`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	tkoi-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 34 Cash Flow Statement 60 Stockholders Equity 15

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.55M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.08M	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
Inventories	`InventoryNet`	$1.61M	USD	Point-in-time
Inventories	`InventoryNet`	$1.79M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	190.00M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetGross`	$314.75K	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetGross`	$446.66K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$562.37K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	134.79M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$577.39K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	135.09M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$25.33K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	135.09M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$19.70K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	134.79M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$232.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$247.29K	USD	Point-in-time
Deposits	`DepositsAssets`	$17.13K	USD	Point-in-time
Deposits	`DepositsAssets`	$17.13K	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$1.01M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$17.13K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$1.02M	USD	Point-in-time
Total Assets	`Assets`	$8.73M	USD	Point-in-time
Total Assets	`Assets`	$10.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$408.05K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$870.65K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$656.61K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$843.74K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$121.47K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$907.24K	USD	Point-in-time
Contract liabilities - current	`ContractWithCustomerLiabilityCurrent`	$908.74K	USD	Point-in-time
Contract liabilities - current	`ContractWithCustomerLiabilityCurrent`	$1.07M	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$220.04K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.26M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$162.12K	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$154.53K	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$862.11K	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Deferred lease liability - long term	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Deferred lease liability - long term	`CapitalLeaseObligationsNoncurrent`	$71.88K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$234.00K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.77M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 135,085,519 and 134,793,211 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$135.09K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 135,085,519 and 134,793,211 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$134.79K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.57M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-124.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-123.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.43M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.96M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.20M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.73M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total Net Revenue	`Revenues`	$2.76M	USD	1 Quarter
Total Net Revenue	`Revenues`	$1.61M	USD	1 Quarter
Total Cost of Sales	`CostOfRevenue`	$1.05M	USD	1 Quarter
Total Cost of Sales	`CostOfRevenue`	$1.78M	USD	1 Quarter
Gross Profit	`GrossProfit`	$986.56K	USD	1 Quarter
Gross Profit	`GrossProfit`	$550.96K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$438.78K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$486.63K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.93K	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`	$1.83M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-840.04K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.18M	USD	1 Quarter
Interest (expense), net	`InterestIncomeExpenseNet`	$-2.53K	USD	1 Quarter
Interest (expense), net	`InterestIncomeExpenseNet`	$-5.56K	USD	1 Quarter
Total Other (Expense)	`NonoperatingIncomeExpense`	$-5.56K	USD	1 Quarter
Total Other (Expense)	`NonoperatingIncomeExpense`	$-2.53K	USD	1 Quarter
Loss before Provision (Benefit) for Income Taxes	`ProfitLoss`	$-1.18M	USD	1 Quarter
Loss before Provision (Benefit) for Income Taxes	`ProfitLoss`	$-845.60K	USD	1 Quarter
Provision (Benefit) for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision (Benefit) for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-845.60K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-1.18M	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`	$-0.01	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`	$-0.01	USD	1 Quarter
Weighted Average Common Shares Outstanding- basic	`WeightedAverageNumberOfSharesOutstandingBasic`	133.70M	shares	1 Quarter
Weighted Average Common Shares Outstanding- basic	`WeightedAverageNumberOfSharesOutstandingBasic`	134.79M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	134.79M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	133.70M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-845.60K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.18M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.81K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.53K	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 and amortization	`DepreciationDepletionAndAmortization`	$16.93K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.91K	USD	1 Quarter
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$-26.32K	USD	1 Quarter
Provision for doubtful accounts, net of recoveries	`ProvisionForDoubtfulAccounts`	$-3.36K	USD	1 Quarter
Reserve for inventory obsolescence	`InventoryWriteDown`	$171.90K	USD	1 Quarter
Reserve for inventory obsolescence	`InventoryWriteDown`	$54.10K	USD	1 Quarter
Noncash operating lease expense	`OtherNoncashExpense`	-	USD	1 Quarter
Noncash operating lease expense	`OtherNoncashExpense`	$-59.48K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-329.37K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.44M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.06K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-361.95K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$219.32K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-15.02K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$462.61K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-283.49K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$187.13K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-67.55K	USD	1 Quarter
Contract liability	`ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress`	$-255.17K	USD	1 Quarter
Contract liability	`ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress`	$169.35K	USD	1 Quarter
Contract assets	`ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress`	$131.91K	USD	1 Quarter
Contract assets	`ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress`	$295.48K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	-	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-54.79K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$5.64K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	$6.44K	USD	1 Quarter
Deferred lease liability	`IncreaseDecreaseInDeferredLiabilities`	-	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.72M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-991.88K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.49K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.30K	USD	1 Quarter
Net proceeds from sale of subsidiary	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	-	USD	1 Quarter
Net proceeds from sale of subsidiary	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	-	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.30K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.49K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$220.61K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.34M	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.55M	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-279.97K	USD	1 Quarter
Net Cash (Used in) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.36K	USD	1 Quarter
Net Cash (Used in) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$785.77K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.06M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-932.89K	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`	$4.68M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.75M	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 end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.68M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.75M	USD	Point-in-time
Cash, cash equivalents and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.20M	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`	$10.94K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$5.43M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$6.24M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$9.53M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$7.96M	USD	Point-in-time
Cumulative effect of a change in accounting principle related to ASC 606, net of tax	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-430.00K	USD	Point-in-time
Shares issued for director compensation, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$36.00K	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
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.81K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-845.60K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.18M	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$5.43M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$6.24M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$9.53M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$7.96M	USD	Point-in-time

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