10-K Filing

WYTEC INTERNATIONAL INC CIK: 1560143 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001683168-20-002129`
Period End Date	20191231
Filing Date	20200630
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	wytc-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 56 Stockholders Equity 14

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$619.10K	USD	Point-in-time
Cash	`Cash`	$3.50M	USD	Point-in-time
Cash	`Cash`	$1.72M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$93.80K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$23.46K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expense and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.29K	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
Total current assets	`AssetsCurrent`	$1.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$726.19K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$80.27K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.45K	USD	Point-in-time
Operating lease, right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease, right-of-use assets	`OperatingLeaseRightOfUseAsset`	$386.74K	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	`ConstructionInProgressGross`	-	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	`ConstructionInProgressGross`	$144.99K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.56M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.11M	shares	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$144.99K	USD	Point-in-time
Total Assets	`Assets`	$1.19M	USD	Point-in-time
Total Assets	`Assets`	$2.09M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.43M	shares	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`	$68.61K	USD	Point-in-time
Accounts payable, related party	`AccountsPayableRelatedPartiesCurrent`	$76.28K	USD	Point-in-time
Accounts payable, related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Other payable	`AccountsPayableOtherCurrent`	$1.32M	USD	Point-in-time
Other payable	`AccountsPayableOtherCurrent`	$895.00K	USD	Point-in-time
Operating lease, right-of-use obligation, current portion	`OperatingLeaseLiabilityCurrent`	$150.91K	USD	Point-in-time
Operating lease, right-of-use obligation, current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.19M	USD	Point-in-time
Operating lease, right-of-use obligation, long term portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease, right-of-use obligation, long term portion	`OperatingLeaseLiabilityNoncurrent`	$237.04K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$237.04K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.43M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.55M	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 29,564,014 shares and 29,106,868 shares issued, 5,429,566 and 4,972,420 shares outstanding	`CommonStockValue`	$29.11K	USD	Point-in-time
Common stock, $0.001 par value, 495,000,000 shares authorized, 29,564,014 shares and 29,106,868 shares issued, 5,429,566 and 4,972,420 shares outstanding	`CommonStockValue`	$29.56K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-17.26M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.12M	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`	$1.95M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-234.64K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$543.01K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.19M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$2.09M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$405.47K	USD	Annual
Revenue	`Revenues`	$305.71K	USD	Annual
Cost of sales	`CostOfRevenue`	$219.09K	USD	Annual
Cost of sales	`CostOfRevenue`	$201.28K	USD	Annual
Gross profit	`GrossProfit`	$186.38K	USD	Annual
Gross profit	`GrossProfit`	$104.43K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.75M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.89M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$23.74K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.50K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$184.36K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$136.18K	USD	Annual
Operating expenses, net	`OperatingExpenses`	$3.09M	USD	Annual
Operating expenses, net	`OperatingExpenses`	$2.90M	USD	Annual
Net operating loss	`OperatingIncomeLoss`	$-2.71M	USD	Annual
Net operating loss	`OperatingIncomeLoss`	$-2.99M	USD	Annual
Interest income	`InterestIncomeOperating`	$404.00	USD	Annual
Interest income	`InterestIncomeOperating`	$192.00	USD	Annual
Interest expense	`InterestExpense`	$38.00	USD	Annual
Interest expense	`InterestExpense`	-	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$144.99K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$132.61K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-144.63K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-132.42K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.85M	USD	Annual
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.13M	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`	$-0.56	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.74	USD	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.85M	USD	Annual
Depreciation	`Depreciation`	$136.18K	USD	Annual
Depreciation	`Depreciation`	$184.36K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$144.99K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$132.61K	USD	Annual
Stock based payments	`ShareBasedCompensation`	$142.63K	USD	Annual
Stock based payments	`ShareBasedCompensation`	$16.07K	USD	Annual
Non-cash lease expense	`OtherNoncashExpense`	-	USD	Annual
Non-cash lease expense	`OtherNoncashExpense`	$142.26K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.76K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$70.34K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.57K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.86K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-160.38K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-159.84K	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$76.28K	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Other payable	`IncreaseDecreaseInOtherAccountsPayable`	$-35.00K	USD	Annual
Other payable	`IncreaseDecreaseInOtherAccountsPayable`	$-35.00K	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	-	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-141.05K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.62M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.00M	USD	Annual
Purchase of construction in process equipment	`PaymentsToAcquireMachineryAndEquipment`	$2.59K	USD	Annual
Purchase of construction in process equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	Annual
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.14K	USD	Annual
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-70.73K	USD	Annual
Proceeds from conversion of warrants	`ProceedsFromWarrantExercises`	$574.10K	USD	Annual
Proceeds from conversion of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$969.00K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.30M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.30M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.54M	USD	Annual
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-1.10M	USD	Annual
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-1.78M	USD	Annual
Cash - beginning	`Cash`	$619.10K	USD	Point-in-time
Cash - beginning	`Cash`	$3.50M	USD	Point-in-time
Cash - beginning	`Cash`	$1.72M	USD	Point-in-time
Cash - ending	`Cash`	$619.10K	USD	Point-in-time
Cash - ending	`Cash`	$3.50M	USD	Point-in-time
Cash - ending	`Cash`	$1.72M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	$38.00	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	-	USD	Annual
Issuance of preferred stock in exchange for deferred revenue obligations	`IssuanceOfPreferredStockInExchangeForDeferredRevenueObligations`	$400.00K	USD	Annual
Issuance of common stock in exchange for deferred revenue obligations	`IssuanceOfCommonStockInExchangeForDeferredRevenueObligations`	-	USD	Annual
Issuance of common stock in exchange for deferred revenue obligations	`IssuanceOfCommonStockInExchangeForDeferredRevenueObligations`	$390.00K	USD	Annual
Recognition of right-of use asset and lease liability upon adoption of ASU 2016-02	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityUponAdoption`	$510.68K	USD	Annual
Recognition of right-of use asset and lease liability upon adoption of ASU 2016-02	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityUponAdoption`	-	USD	Annual
Recognition of right-of use asset and lease liability during the period	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	Annual
Recognition of right-of use asset and lease liability during the period	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$18.32K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$1.95M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-234.64K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$543.01K	USD	Point-in-time
Stock based payments for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$16.07K	USD	Annual
Stock based payments for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$142.63K	USD	Annual
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$1.70M	USD	Annual
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$969.00K	USD	Annual
Issuance of common stock in exchange for deferred revenue obligation, value	`IssuanceOfCommonStockInExchangeForDeferredRevenueObligationValue`	$390.00K	USD	Annual
Conversion of warrants to common stock, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$574.10K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.85M	USD	Annual
Ending balance, value	`StockholdersEquity`	$1.95M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-234.64K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$543.01K	USD	Point-in-time

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