10-Q Filing

TELKONET INC CIK: 1094084 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001683168-20-001580`
Period End Date	20200331
Filing Date	20200515
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	tkoi-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 34 Cash Flow Statement 53 Stockholders Equity 14

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.08M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.28M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.32M	USD	Point-in-time
Inventories	`InventoryNet`	$1.37M	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`	$1.04M	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	`ContractWithCustomerAssetNet`	$72.76K	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNet`	$188.12K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	136.31M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$251.62K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	135.99M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$340.93K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$85.07K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$85.47K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	136.31M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	135.99M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$171.73K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$186.53K	USD	Point-in-time
Deposits	`DepositsAssets`	$17.13K	USD	Point-in-time
Deposits	`DepositsAssets`	$7.00K	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$892.17K	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$853.62K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$28.02K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$28.02K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$888.64K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$937.32K	USD	Point-in-time
Total Assets	`Assets`	$8.61M	USD	Point-in-time
Total Assets	`Assets`	$7.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$683.81K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$527.83K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$442.86K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$518.46K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$624.35K	USD	Point-in-time
Contract liabilities - current	`ContractWithCustomerLiabilityCurrent`	$653.05K	USD	Point-in-time
Contract liabilities - current	`ContractWithCustomerLiabilityCurrent`	$515.53K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$226.46K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$223.84K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.29M	USD	Point-in-time
Contract liabilties - long-term	`ContractWithCustomerLiabilityNoncurrent`	$111.13K	USD	Point-in-time
Contract liabilties - long-term	`ContractWithCustomerLiabilityNoncurrent`	$91.59K	USD	Point-in-time
Operating lease liabilities - long-term	`OperatingLeaseLiabilityNoncurrent`	$758.32K	USD	Point-in-time
Operating lease liabilities - long-term	`OperatingLeaseLiabilityNoncurrent`	$720.89K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$869.45K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$812.48K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.16M	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; 136,311,335 and 135,990,491 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$136.31K	USD	Point-in-time
Common stock, par value $.001 per share; 190,000,000 shares authorized; 136,311,335 and 135,990,491 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$135.99K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.71M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-125.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-125.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.81M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.43M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.61M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.01M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total Net Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.80M	USD	1 Quarter
Total Net Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.76M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$1.78M	USD	1 Quarter
Total Cost of Sales	`CostOfGoodsAndServicesSold`	$989.38K	USD	1 Quarter
Gross Profit	`GrossProfit`	$986.56K	USD	1 Quarter
Gross Profit	`GrossProfit`	$814.05K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$486.63K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$369.24K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.07M	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`	$14.79K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.45M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-840.04K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-640.60K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-8.68K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-5.56K	USD	1 Quarter
Total Other Expenses	`NonoperatingIncomeExpense`	$-8.68K	USD	1 Quarter
Total Other Expenses	`NonoperatingIncomeExpense`	$-5.56K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-649.28K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-845.60K	USD	1 Quarter
Income Taxes Provision	`IncomeTaxExpenseBenefit`	$3.22K	USD	1 Quarter
Income Taxes Provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss Attributable to Common Stockholders	`NetIncomeLoss`	$-845.60K	USD	1 Quarter
Net Loss Attributable to Common Stockholders	`NetIncomeLoss`	$-652.50K	USD	1 Quarter
Basic - Net Loss Attributable to Common Stockholders	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic - Net Loss Attributable to Common Stockholders	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted - Net Loss Attributable to Common Stockholders	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted - Net Loss Attributable to Common Stockholders	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted Average Common Shares Outstanding used in Computing Basic Net Loss Per Share	`WeightedAverageNumberOfSharesOutstandingBasic`	135.99M	shares	1 Quarter
Weighted Average Common Shares Outstanding used in Computing Basic Net Loss Per Share	`WeightedAverageNumberOfSharesOutstandingBasic`	134.79M	shares	1 Quarter
Weighted Average Common Shares Outstanding used in Computing Diluted Net Loss Per Share	`WeightedAverageNumberOfDilutedSharesOutstanding`	134.79M	shares	1 Quarter
Weighted Average Common Shares Outstanding used in Computing Diluted Net Loss Per Share	`WeightedAverageNumberOfDilutedSharesOutstanding`	135.99M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-652.50K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-845.60K	USD	1 Quarter
Stock-based compensation expense related to employee stock options	`ShareBasedCompensation`	$1.81K	USD	1 Quarter
Stock-based compensation expense related to employee stock options	`ShareBasedCompensation`	$1.81K	USD	1 Quarter
Stock issued to directors as compensation	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$36.00K	USD	1 Quarter
Stock issued to directors as compensation	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$18.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.93K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.79K	USD	1 Quarter
Reserve for inventory obsolescence	`InventoryWriteDown`	$171.90K	USD	1 Quarter
Reserve for inventory obsolescence	`InventoryWriteDown`	$-91.99K	USD	1 Quarter
Noncash operating lease expense	`OtherNoncashExpense`	$59.48K	USD	1 Quarter
Noncash operating lease expense	`OtherNoncashExpense`	$58.78K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.47M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-961.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.06K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-423.25K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$89.31K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-15.02K	USD	1 Quarter
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Deposits and other long term assets	`IncreaseDecreaseInDepositOtherAssets`	$-10.13K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-581.75K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$462.61K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-84.97K	USD	1 Quarter
Accrued liabilities and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$187.13K	USD	1 Quarter
Contract liability	`IncreaseDecreaseInContractWithCustomerLiability`	$-157.06K	USD	1 Quarter
Contract liability	`IncreaseDecreaseInContractWithCustomerLiability`	$-169.35K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$131.91K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$-115.36K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-55.03K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-54.79K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$397.00	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$5.64K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.72M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-109.89K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.30K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net Cash Used In By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used In By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.30K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.34M	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.82M	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.55M	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.93M	USD	1 Quarter
Net Cash (Used In) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-105.88K	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`	$-932.89K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-215.77K	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.68M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.08M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.75M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.08M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$15.56K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$10.94K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$3.81M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$4.44M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$6.24M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$5.43M	USD	Point-in-time
Shares issued to directors, value	`StockIssuedDuringPeriodValueNewIssues`	$18.00K	USD	1 Quarter
Shares issued to directors, value	`StockIssuedDuringPeriodValueNewIssues`	$36.00K	USD	1 Quarter
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.81K	USD	1 Quarter
Stock-based compensation expense related to employee stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.81K	USD	1 Quarter
Net income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-652.50K	USD	1 Quarter
Net income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-845.60K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$3.81M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$4.44M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$6.24M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$5.43M	USD	Point-in-time

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