10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001683168-22-004638 |
| Period End Date | 20220331 |
| Filing Date | 20220628 |
| Fiscal Year | 2022 |
| Fiscal Period | Q1 |
| XBRL Instance | wytec_i10q-033122_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
74 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| 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
|
20.00M | shares | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
20.00M | shares | Point-in-time |
| Cash |
Cash
|
$341.82K | USD | Point-in-time |
| Cash |
Cash
|
$270.07K | USD | Point-in-time |
| Accounts receivable |
AccountsReceivableNetCurrent
|
$8.81K | USD | Point-in-time |
| Accounts receivable |
AccountsReceivableNetCurrent
|
$36.95K | 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 |
| Inventory |
InventoryNet
|
$33.49K | USD | Point-in-time |
| Inventory |
InventoryNet
|
$8.54K | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
30.73M | shares | Point-in-time |
| Other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
- | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
495.00M | shares | Point-in-time |
| Other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$24.03K | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$411.34K | USD | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
6.96M | shares | Point-in-time |
| Total current assets |
AssetsCurrent
|
$312.38K | USD | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
6.95M | shares | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$115.92K | USD | Point-in-time |
| Common stock, shares outstanding |
CommonStockSharesOutstanding
|
6.96M | shares | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$104.48K | USD | Point-in-time |
| Common stock, shares outstanding |
CommonStockSharesOutstanding
|
6.95M | shares | Point-in-time |
| Operating lease, right-of-use assets |
OperatingLeaseRightOfUseAsset
|
$21.18K | USD | Point-in-time |
| Operating lease, right-of-use assets |
OperatingLeaseRightOfUseAsset
|
$24.06K | USD | Point-in-time |
| Total assets |
Assets
|
$452.36K | USD | Point-in-time |
| Total assets |
Assets
|
$536.99K | USD | Point-in-time |
| Accounts payable and accrued expenses |
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
$252.96K | USD | Point-in-time |
| Accounts payable and accrued expenses |
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
$417.52K | USD | Point-in-time |
| Accounts payable, related party |
AccountsPayableRelatedPartiesCurrent
|
$186.42K | USD | Point-in-time |
| Accounts payable, related party |
AccountsPayableRelatedPartiesCurrent
|
$212.02K | USD | Point-in-time |
| Other payable |
AccountsPayableOtherCurrent
|
$895.00K | USD | Point-in-time |
| Other payable |
AccountsPayableOtherCurrent
|
$895.00K | USD | Point-in-time |
| Operating lease, right-of-use obligation, current portion |
OperatingLeaseLiabilityCurrent
|
$12.81K | USD | Point-in-time |
| Operating lease, right-of-use obligation, current portion |
OperatingLeaseLiabilityCurrent
|
$11.78K | USD | Point-in-time |
| Contract liability |
ContractWithCustomerLiabilityCurrent
|
$6.49K | USD | Point-in-time |
| Contract liability |
ContractWithCustomerLiabilityCurrent
|
$6.63K | USD | Point-in-time |
| Notes payable, current portion |
NotesPayableCurrent
|
$33.50K | USD | Point-in-time |
| Notes payable, current portion |
NotesPayableCurrent
|
$32.22K | USD | Point-in-time |
| Promissory notes, shareholders |
PromissoryNotesShareholders
|
$260.00K | USD | Point-in-time |
| Promissory notes, shareholders |
PromissoryNotesShareholders
|
$110.00K | USD | Point-in-time |
| Short-term debt, net of unamortized discount |
ShortTermBorrowings
|
$625.00K | USD | Point-in-time |
| Short-term debt, net of unamortized discount |
ShortTermBorrowings
|
$625.00K | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$2.46M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$2.12M | USD | Point-in-time |
| Operating lease, right-of-use obligation, long term portion |
OperatingLeaseLiabilityNoncurrent
|
$12.38K | USD | Point-in-time |
| Operating lease, right-of-use obligation, long term portion |
OperatingLeaseLiabilityNoncurrent
|
$8.46K | USD | Point-in-time |
| Notes payable, long term portion |
OtherLongTermDebtNoncurrent
|
$42.57K | USD | Point-in-time |
| Notes payable, long term portion |
OtherLongTermDebtNoncurrent
|
$49.66K | USD | Point-in-time |
| Promissory notes, shareholder, net of unamortized discount |
PromissoryNotesShareholderNetOfUnamortizedDiscount
|
$145.14K | USD | Point-in-time |
| Promissory notes, shareholder, net of unamortized discount |
PromissoryNotesShareholderNetOfUnamortizedDiscount
|
$150.00K | USD | Point-in-time |
| Total long-term liabilities |
LiabilitiesNoncurrent
|
$196.16K | USD | Point-in-time |
| Total long-term liabilities |
LiabilitiesNoncurrent
|
$212.03K | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$2.66M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$2.33M | USD | Point-in-time |
| Common stock, $0.001 par value, 495,000,000 shares authorized, 30,734,709 shares and 6,959,366 shares and 6,954,366 shares issued, 6,959,366 shares and 6,954,366 shares outstanding |
CommonStockValue
|
$6.96K | USD | Point-in-time |
| Common stock, $0.001 par value, 495,000,000 shares authorized, 30,734,709 shares and 6,959,366 shares and 6,954,366 shares issued, 6,959,366 shares and 6,954,366 shares outstanding |
CommonStockValue
|
$6.95K | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$24.28M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$24.37M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-26.21M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-25.72M | USD | Point-in-time |
| Repurchased shares |
RepurchasedSharesValue
|
$80.00K | USD | Point-in-time |
| Repurchased shares |
RepurchasedSharesValue
|
$80.00K | USD | Point-in-time |
| Subscriptions receivable |
StockholdersEquityNoteSubscriptionsReceivable
|
- | USD | Point-in-time |
| Subscriptions receivable |
StockholdersEquityNoteSubscriptionsReceivable
|
$140.97K | USD | Point-in-time |
| Subscriptions payable |
SubscriptionsPayable
|
$47.27K | USD | Point-in-time |
| Subscriptions payable |
SubscriptionsPayable
|
$25.40K | USD | Point-in-time |
| Total stockholders' deficit |
StockholdersEquity
|
$-2.12M | USD | Point-in-time |
| Total stockholders' deficit |
StockholdersEquity
|
$-1.88M | USD | Point-in-time |
| Total stockholders' deficit |
StockholdersEquity
|
$-1.02M | USD | Point-in-time |
| Total stockholders' deficit |
StockholdersEquity
|
$-1.39M | USD | Point-in-time |
| Total liabilities and stockholders' deficit |
LiabilitiesAndStockholdersEquity
|
$536.99K | USD | Point-in-time |
| Total liabilities and stockholders' deficit |
LiabilitiesAndStockholdersEquity
|
$452.36K | USD | Point-in-time |
Income Statement
32 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenue |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$258.38K | USD | 1 Quarter |
| Revenue |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$204.04K | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$177.59K | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$230.45K | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$26.45K | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$27.93K | USD | 1 Quarter |
| Selling, general and administrative |
SellingGeneralAndAdministrativeExpense
|
$475.25K | USD | 1 Quarter |
| Selling, general and administrative |
SellingGeneralAndAdministrativeExpense
|
$526.98K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$492.00 | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
- | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$17.39K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$12.29K | USD | 1 Quarter |
| Operating expenses |
OperatingExpenses
|
$544.86K | USD | 1 Quarter |
| Operating expenses |
OperatingExpenses
|
$487.54K | USD | 1 Quarter |
| Net operating loss |
OperatingIncomeLoss
|
$-516.93K | USD | 1 Quarter |
| Net operating loss |
OperatingIncomeLoss
|
$-461.08K | USD | 1 Quarter |
| Interest income |
InterestIncomeOperating
|
- | USD | 1 Quarter |
| Interest income |
InterestIncomeOperating
|
$30.00 | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$30.17K | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$26.81K | USD | 1 Quarter |
| Total other income (expense) |
NonoperatingIncomeExpense
|
$-30.17K | USD | 1 Quarter |
| Total other income (expense) |
NonoperatingIncomeExpense
|
$-26.78K | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-543.71K | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-491.26K | USD | 1 Quarter |
| Weighted average number of common shares outstanding - basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
6.43M | shares | 1 Quarter |
| Weighted average number of common shares outstanding - basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
6.96M | shares | 1 Quarter |
| Weighted average number of common shares outstanding - fully diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
6.43M | shares | 1 Quarter |
| Weighted average number of common shares outstanding - fully diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
6.96M | shares | 1 Quarter |
| Net loss per share - basic |
EarningsPerShareBasic
|
$-0.08 | USD | 1 Quarter |
| Net loss per share - basic |
EarningsPerShareBasic
|
$-0.07 | USD | 1 Quarter |
| Net loss per share - fully diluted |
EarningsPerShareDiluted
|
$-0.08 | USD | 1 Quarter |
| Net loss per share - fully diluted |
EarningsPerShareDiluted
|
$-0.07 | USD | 1 Quarter |
Cash Flow Statement
70 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-543.71K | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-491.26K | USD | 1 Quarter |
| Depreciation |
DepreciationDepletionAndAmortization
|
$17.39K | USD | 1 Quarter |
| Depreciation |
DepreciationDepletionAndAmortization
|
$12.29K | USD | 1 Quarter |
| Amortization of debt discount |
AmortizationOfDebtDiscountPremium
|
$2.71K | USD | 1 Quarter |
| Amortization of debt discount |
AmortizationOfDebtDiscountPremium
|
$13.78K | USD | 1 Quarter |
| Amortization of debt issuance costs |
AmortizationOfFinancingCosts
|
- | USD | 1 Quarter |
| Amortization of debt issuance costs |
AmortizationOfFinancingCosts
|
$7.25K | USD | 1 Quarter |
| Stock based compensation |
ShareBasedCompensation
|
- | USD | 1 Quarter |
| Stock based compensation |
ShareBasedCompensation
|
$57.39K | USD | 1 Quarter |
| Non-cash adjustment to notes payable and fixed assets |
NoncashAdjustmentToNotesPayableAndFixedAssets
|
- | USD | 1 Quarter |
| Non-cash adjustment to notes payable and fixed assets |
NoncashAdjustmentToNotesPayableAndFixedAssets
|
$3.90K | USD | 1 Quarter |
| Non-cash lease expense |
OtherNoncashExpense
|
$2.88K | USD | 1 Quarter |
| Non-cash lease expense |
OtherNoncashExpense
|
$26.98K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$18.62K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$28.14K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-24.95K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-16.00 | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-1.58K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
- | USD | 1 Quarter |
| Accounts payable and accrued expenses |
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
$28.46K | USD | 1 Quarter |
| Accounts payable and accrued expenses |
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
$186.44K | USD | 1 Quarter |
| Accounts payable, related party |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$25.60K | USD | 1 Quarter |
| Accounts payable, related party |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$17.01K | USD | 1 Quarter |
| Contract liability |
IncreaseDecreaseInContractWithCustomerLiability
|
$-2.56K | USD | 1 Quarter |
| Contract liability |
IncreaseDecreaseInContractWithCustomerLiability
|
$149.00 | USD | 1 Quarter |
| Operating lease liability |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-20.97K | USD | 1 Quarter |
| Operating lease liability |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-2.88K | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-427.15K | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-260.00K | USD | 1 Quarter |
| Purchase of equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$847.00 | USD | 1 Quarter |
| Purchase of equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-847.00 | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
- | USD | 1 Quarter |
| Proceeds from issuance of promissory notes, shareholder |
ProceedsFromNotesPayable
|
$175.00K | USD | 1 Quarter |
| Proceeds from issuance of promissory notes, shareholder |
ProceedsFromNotesPayable
|
- | USD | 1 Quarter |
| Proceeds from Paycheck Protection Program loan |
ProceedsFromOtherShortTermDebt
|
$160.07K | USD | 1 Quarter |
| Proceeds from Paycheck Protection Program loan |
ProceedsFromOtherShortTermDebt
|
- | USD | 1 Quarter |
| Payments on notes payable |
RepaymentsOfNotesPayable
|
$8.38K | USD | 1 Quarter |
| Payments on notes payable |
RepaymentsOfNotesPayable
|
$8.38K | USD | 1 Quarter |
| Proceeds from exercise of warrants |
ProceedsFromWarrantExercises
|
$25.00K | USD | 1 Quarter |
| Proceeds from exercise of warrants |
ProceedsFromWarrantExercises
|
$76.00K | USD | 1 Quarter |
| Proceeds from previously issued of common stock |
ProceedsFromIssuanceOfCommonStock
|
$140.97K | USD | 1 Quarter |
| Proceeds from previously issued of common stock |
ProceedsFromIssuanceOfCommonStock
|
$46.88K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$274.57K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$332.59K | USD | 1 Quarter |
| Net increase (decrease) in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
$-152.57K | USD | 1 Quarter |
| Net increase (decrease) in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
$71.74K | USD | 1 Quarter |
| Cash - beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$595.73K | USD | Point-in-time |
| Cash - beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$341.82K | USD | Point-in-time |
| Cash - beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$270.07K | USD | Point-in-time |
| Cash - beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$443.16K | USD | Point-in-time |
| Cash - end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$595.73K | USD | Point-in-time |
| Cash - end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$341.82K | USD | Point-in-time |
| Cash - end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$270.07K | USD | Point-in-time |
| Cash - end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$443.16K | USD | Point-in-time |
| Interest paid |
InterestPaidNet
|
$2.09K | USD | 1 Quarter |
| Interest paid |
InterestPaidNet
|
$2.09K | USD | 1 Quarter |
| Income taxes paid |
IncomeTaxesPaid
|
- | USD | 1 Quarter |
| Income taxes paid |
IncomeTaxesPaid
|
- | USD | 1 Quarter |
| Common Stock owed for conversion of accrued interest |
CommonStockOwedForConversionsOfAccruedInterest
|
- | USD | 1 Quarter |
| Common Stock owed for conversion of accrued interest |
CommonStockOwedForConversionsOfAccruedInterest
|
$21.88K | USD | 1 Quarter |
| Conversion of series B preferred stock to common stock |
ConversionOfSeriesBPreferredStockToCommonStock
|
$461.00 | USD | 1 Quarter |
| Conversion of series B preferred stock to common stock |
ConversionOfSeriesBPreferredStockToCommonStock
|
- | USD | 1 Quarter |
| Issuance of common stock in lieu of interest payment |
IssuanceOfCommonStockInLieuOfInterestPayment
|
$21.88K | USD | 1 Quarter |
| Issuance of common stock in lieu of interest payment |
IssuanceOfCommonStockInLieuOfInterestPayment
|
- | USD | 1 Quarter |
| Issuance of detachable warrants with Debt |
IssuanceOfDetachableWarrantWithDebt
|
- | USD | 1 Quarter |
| Issuance of detachable warrants with Debt |
IssuanceOfDetachableWarrantWithDebt
|
$32.57K | USD | 1 Quarter |
| Issuance of warrants to gain access to line of credit |
IssuanceOfWarrantsToGainAccessToToLineOfCredit
|
- | USD | 1 Quarter |
| Issuance of warrants to gain access to line of credit |
IssuanceOfWarrantsToGainAccessToToLineOfCredit
|
$31.28K | USD | 1 Quarter |
Stockholders Equity
21 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Beginning balance, value |
StockholdersEquity
|
$-2.12M | USD | Point-in-time |
| Beginning balance, value |
StockholdersEquity
|
$-1.88M | USD | Point-in-time |
| Beginning balance, value |
StockholdersEquity
|
$-1.02M | USD | Point-in-time |
| Beginning balance, value |
StockholdersEquity
|
$-1.39M | USD | Point-in-time |
| Conversion of Series B preferred stock to common stock |
ConversionOfSeriesBPreferredStockToCommonStockEquity
|
- | USD | 1 Quarter |
| Conversion of warrants |
ConversionOfWarrantsEquity
|
$76.00K | USD | 1 Quarter |
| Issuance of common stock for cash already received |
IssuanceOfCommonStockForCashAlreadyReceived
|
- | USD | 1 Quarter |
| Issuance of common stock for cash |
IssuanceOfCommonStockForCash
|
$46.88K | USD | 1 Quarter |
| Issuance of Warrants for services |
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
$51.34K | USD | 1 Quarter |
| Issuance of Warrants |
IssuanceOfWarrants
|
$6.05K | USD | 1 Quarter |
| Receipt of cash for common stock already issued |
ReceiptOfCashForCommonStockAlreadyIssued
|
$140.97K | USD | 1 Quarter |
| Warrants issued to gain access to line of credit |
WarrantsIssuedToGainAccessToLineOfCredit
|
$31.28K | USD | 1 Quarter |
| Warrants issued with promissory note |
WarrantsIssuedWithPromissoryNote
|
$32.57K | USD | 1 Quarter |
| Common stock owed for conversion of accrued interest |
CommonStockOwedForConversionOfAccruedInterest
|
$21.88K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-543.71K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-491.26K | USD | 1 Quarter |
| Conversion of warrants to common stock |
ConversionOfWarrantsToCommonStock
|
$25.00K | USD | 1 Quarter |
| Ending balance, value |
StockholdersEquity
|
$-2.12M | USD | Point-in-time |
| Ending balance, value |
StockholdersEquity
|
$-1.88M | USD | Point-in-time |
| Ending balance, value |
StockholdersEquity
|
$-1.02M | USD | Point-in-time |
| Ending balance, value |
StockholdersEquity
|
$-1.39M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.