10-Q Filing

WYTEC INTERNATIONAL INC CIK: 1560143 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001683168-19-002564`
Period End Date	20190630
Filing Date	20190813
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	wytc-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 54 Cash Flow Statement 48 Stockholders Equity 22

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.01M	USD	Point-in-time
Cash	`Cash`	$1.72M	USD	Point-in-time
Cash	`Cash`	$2.33M	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`	$75.24K	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$36.88K	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 expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.43K	USD	Point-in-time
Related party receivable, CCI, net of allowance of $419,433	`AccountsReceivableRelatedPartiesCurrent`	-	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	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$117.45K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.45K	USD	Point-in-time
Operating lease, right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$345.31K	USD	Point-in-time
Operating lease, right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	495.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.28M	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
Construction in process	`ConstructionInProgressGross`	$140.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.15M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.97M	shares	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$140.78K	USD	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`	$1.73M	USD	Point-in-time
Total Assets	`Assets`	$2.09M	USD	Point-in-time
Treasury stock	`TreasuryStockShares`	24.13M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$282.79K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$228.46K	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.22M	USD	Point-in-time
Deferred revenues, net of commissions	`DeferredRevenueCurrent`	$1.32M	USD	Point-in-time
Operating lease, right-of-use obligation, current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease, right-of-use obligation, current portion	`OperatingLeaseLiabilityCurrent`	$119.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.55M	USD	Point-in-time
Operating lease, right-of-use obligation, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease, right-of-use obligation, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$224.47K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$224.47K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.55M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.84M	USD	Point-in-time
Common stock, $.001 par value, 495,000,000 shares authorized, 29,284,218 shares and 29,106,998 shares issued, 5,149,770 shares and 4,972,550 shares outstanding at June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$29.28K	USD	Point-in-time
Common stock, $.001 par value, 495,000,000 shares authorized, 29,284,218 shares and 29,106,998 shares issued, 5,149,770 shares and 4,972,550 shares outstanding at June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$29.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Receivable for issuance of common stock	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Receivable for issuance of common stock	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-17.26M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-18.74M	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 (deficit)	`StockholdersEquity`	$32.08K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$543.01K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-116.33K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$1.75M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$1.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.73M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$177.32K	USD	1 Quarter
Revenue	`Revenues`	$90.07K	USD	1 Quarter
Revenue	`Revenues`	$188.64K	USD	2 Qtrs
Revenue	`Revenues`	$127.79K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$105.97K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$81.34K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$93.23K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$81.48K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$107.15K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-3.16K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$21.82K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$95.98K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$796.04K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.34M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.40M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$761.50K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.50K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$21.30K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$16.03K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.50K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$107.61K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$53.96K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$99.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$850.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$831.50K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.50M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.47M	USD	2 Qtrs
Net operating loss	`OperatingIncomeLoss`	$-1.36M	USD	2 Qtrs
Net operating loss	`OperatingIncomeLoss`	$-853.21K	USD	1 Quarter
Net operating loss	`OperatingIncomeLoss`	$-1.48M	USD	2 Qtrs
Net operating loss	`OperatingIncomeLoss`	$-735.52K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$36.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$83.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$96.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$49.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$49.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$96.00	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$36.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$83.00	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-735.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-853.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
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`	5.08M	shares	2 Qtrs
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`	5.03M	shares	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.17	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	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`	$-0.29	USD	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-735.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-853.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$107.61K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$53.96K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$99.00K	USD	2 Qtrs
Stock based payments	`ShareBasedCompensation`	$75.00	USD	2 Qtrs
Stock based payments	`ShareBasedCompensation`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$179.30K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$51.78K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-609.00	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$22.24K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-176.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$53.45K	USD	2 Qtrs
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.61M	USD	2 Qtrs
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.40M	USD	2 Qtrs
Purchase of construction in process equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	2 Qtrs
Purchase of construction in process equipment	`PaymentsToAcquireMachineryAndEquipment`	$14.44K	USD	2 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.30K	USD	2 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.74K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$689.82K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$499.90K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$689.82K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$499.90K	USD	2 Qtrs
Net (decrease) in cash	`CashPeriodIncreaseDecrease`	$-710.91K	USD	2 Qtrs
Net (decrease) in cash	`CashPeriodIncreaseDecrease`	$-1.17M	USD	2 Qtrs
Cash - beginning	`Cash`	$1.01M	USD	Point-in-time
Cash - beginning	`Cash`	$1.72M	USD	Point-in-time
Cash - beginning	`Cash`	$2.33M	USD	Point-in-time
Cash - beginning	`Cash`	$3.50M	USD	Point-in-time
Cash - ending	`Cash`	$1.01M	USD	Point-in-time
Cash - ending	`Cash`	$1.72M	USD	Point-in-time
Cash - ending	`Cash`	$2.33M	USD	Point-in-time
Cash - ending	`Cash`	$3.50M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Issuance of common stock in exchange for registered link and equipment	`IssuanceOfCommonStockInExchangeForRegisteredLinkAndEquipment`	$-25.00K	USD	2 Qtrs
Issuance of common stock in exchange for registered link and equipment	`IssuanceOfCommonStockInExchangeForRegisteredLinkAndEquipment`	-	USD	2 Qtrs
Issuance of common stock in lieu of deferred revenue	`IssuanceOfCommonStockInLieuOfDeferredRevenue`	-	USD	2 Qtrs
Issuance of common stock in lieu of deferred revenue	`IssuanceOfCommonStockInLieuOfDeferredRevenue`	$-105.00K	USD	2 Qtrs

Stockholders Equity 22 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`	$-116.33K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.75M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.95M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.09M	USD	Point-in-time
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$69.61K	USD	1 Quarter
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$704.77K	USD	1 Quarter
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`	$-735.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.36M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-625.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-853.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	2 Qtrs
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`	$-116.33K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$1.75M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$1.95M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$1.09M	USD	Point-in-time

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