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10-Q Filing

PACIFIC GREEN TECHNOLOGIES INC. CIK: 1553404 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001213900-19-015389
Period End Date 20190630
Filing Date 20190813
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance pgtk-20190630.xml
Filing Contents
Balance Sheet 82 line items
Line Item Tag Value Unit Period
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $229.88K USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $4.02M USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $2.86M USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $2.31M USD Point-in-time
Short-term investments and amounts in escrow (Note 3) ShortTermInvestments $1.74M USD Point-in-time
Short-term investments and amounts in escrow (Note 3) ShortTermInvestments $2.57M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued - shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued - shares Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding - shares Point-in-time
Accounts receivable and other amounts recoverable AccountsReceivableNetCurrent $778.43K USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding - shares Point-in-time
Accounts receivable and other amounts recoverable AccountsReceivableNetCurrent $2.38M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Prepaid expenses and deposits PrepaidExpenseCurrent $987.23K USD Point-in-time
Prepaid expenses and deposits PrepaidExpenseCurrent $870.64K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Contract assets (Note 8) ContractWithCustomerAssetNetCurrent $21.89M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Contract assets (Note 8) ContractWithCustomerAssetNetCurrent $12.24M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 45.49M shares Point-in-time
Lease receivable, current portion (Note 4) ReceivablesNetCurrent $309.77K USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 45.49M shares Point-in-time
Lease receivable, current portion (Note 4) ReceivablesNetCurrent $427.77K USD Point-in-time
Total Current Assets AssetsCurrent $18.80M USD Point-in-time
Total Current Assets AssetsCurrent $32.28M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 45.49M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 45.49M shares Point-in-time
Lease receivable (Note 4) LoansAndLeasesReceivableNetReportedAmount $681.69K USD Point-in-time
Lease receivable (Note 4) LoansAndLeasesReceivableNetReportedAmount $784.91K USD Point-in-time
Property and equipment (Note 5) PropertyPlantAndEquipmentNet $13.44K USD Point-in-time
Property and equipment (Note 5) PropertyPlantAndEquipmentNet $181.06K USD Point-in-time
Property and equipment (Note 5) PropertyPlantAndEquipmentNet $31.38K USD Point-in-time
Right of use asset (Note 7) OperatingLeaseRightOfUseAsset $1.64M USD Point-in-time
Intangible assets (Note 6) IntangibleAssetsNetExcludingGoodwill $9.53M USD Point-in-time
Intangible assets (Note 6) IntangibleAssetsNetExcludingGoodwill $10.40M USD Point-in-time
Intangible assets (Note 6) IntangibleAssetsNetExcludingGoodwill $9.75M USD Point-in-time
Total Assets Assets $29.36M USD Point-in-time
Total Assets Assets $44.31M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $6.76M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $4.51M USD Point-in-time
Warranty provision (Note 9) WarrantyProvisionCurrent $121.34K USD Point-in-time
Warranty provision (Note 9) WarrantyProvisionCurrent $197.12K USD Point-in-time
Contract liabilities (Note 8) ContractLiabilitiesCurrent $34.74M USD Point-in-time
Contract liabilities (Note 8) ContractLiabilitiesCurrent $18.85M USD Point-in-time
Convertible debenture (Note 10) ConvertibleDebtCurrent $30.00K USD Point-in-time
Convertible debenture (Note 10) ConvertibleDebtCurrent $30.00K USD Point-in-time
Current portion of operating lease obligation (Note 7) OperatingLeaseLiabilityCurrent $100.61K USD Point-in-time
Current portion of operating lease obligation (Note 7) OperatingLeaseLiabilityCurrent - USD Point-in-time
Due to related parties (Note 12) DueToRelatedPartiesCurrent $117.00K USD Point-in-time
Due to related parties (Note 12) DueToRelatedPartiesCurrent $98.54K USD Point-in-time
Derivative liability (Note 11 and 17) DerivativeLiabilitiesCurrent $431.59K USD Point-in-time
Derivative liability (Note 11 and 17) DerivativeLiabilitiesCurrent $568.54K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $42.50M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $24.06M USD Point-in-time
Long-term operating lease obligation (Note 7) LongTermDebtAndCapitalLeaseObligations - USD Point-in-time
Long-term operating lease obligation (Note 7) LongTermDebtAndCapitalLeaseObligations $1.24M USD Point-in-time
Total Liabilities Liabilities $24.06M USD Point-in-time
Total Liabilities Liabilities $43.74M USD Point-in-time
Preferred stock, 10,000,000 shares authorized, $0.001 par value Nil and nil shares issued and outstanding, respectively PreferredStockValue - USD Point-in-time
Preferred stock, 10,000,000 shares authorized, $0.001 par value Nil and nil shares issued and outstanding, respectively PreferredStockValue - USD Point-in-time
Common stock, 500,000,000 shares authorized, $0.001 par value 45,493,439 and 45,493,439 shares issued and outstanding, respectively (Note 13) CommonStockValue $45.49K USD Point-in-time
Common stock, 500,000,000 shares authorized, $0.001 par value 45,493,439 and 45,493,439 shares issued and outstanding, respectively (Note 13) CommonStockValue $45.49K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $90.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $90.68M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $270.25K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $349.46K USD Point-in-time
Deficit RetainedEarningsAccumulatedDeficit $-85.70M USD Point-in-time
Deficit RetainedEarningsAccumulatedDeficit $-90.52M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $14.23M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $5.30M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $11.74M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $575.59K USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $44.31M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $29.36M USD Point-in-time
Nature of Operations (Note 1) NatureOfOperation - USD Point-in-time
Commitments (Note 19) CommitmentsAndContingencies - USD Point-in-time
Subsequent Events (Note 20) SubsequentEvents - USD Point-in-time
Income Statement 53 line items
Line Item Tag Value Unit Period
Sales (Note 8) Revenues - USD 1 Quarter
Sales (Note 8) Revenues $4.76M USD 1 Quarter
Cost of goods sold CostOfRevenue $2.82M USD 1 Quarter
Cost of goods sold CostOfRevenue - USD 1 Quarter
Gross margin GrossProfit $1.95M USD 1 Quarter
Gross margin GrossProfit - USD 1 Quarter
Advertising and promotion MarketingAndAdvertisingExpense $545.05K USD 1 Quarter
Advertising and promotion MarketingAndAdvertisingExpense $34.52K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $218.95K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $218.95K USD 1 Quarter
Consulting fees (Note 12) ConsultingFees $2.89M USD 1 Quarter
Consulting fees (Note 12) ConsultingFees $357.08K USD 1 Quarter
Depreciation Depreciation $2.36K USD 1 Quarter
Depreciation Depreciation $9.44K USD 1 Quarter
Foreign exchange loss (gain) ForeignCurrencyTransactionGainLossBeforeTax $144.73K USD 1 Quarter
Foreign exchange loss (gain) ForeignCurrencyTransactionGainLossBeforeTax $-250.84K USD 1 Quarter
Lease expense OperatingLeaseExpense $102.46K USD 1 Quarter
Lease expense OperatingLeaseExpense - USD 1 Quarter
Office and miscellaneous OfficeAndMiscellaneous $493.65K USD 1 Quarter
Office and miscellaneous OfficeAndMiscellaneous $62.64K USD 1 Quarter
Professional fees ProfessionalFees $69.54K USD 1 Quarter
Professional fees ProfessionalFees $310.69K USD 1 Quarter
Salaries and wage expenses SalariesAndWages - USD 1 Quarter
Salaries and wage expenses SalariesAndWages $903.71K USD 1 Quarter
Stock-based compensation (Note 16) ShareBasedCompensation $13.83K USD 1 Quarter
Stock-based compensation (Note 16) ShareBasedCompensation - USD 1 Quarter
Transfer agent and filing fees OtherFinancialServiceCosts $17.02K USD 1 Quarter
Transfer agent and filing fees OtherFinancialServiceCosts $108.24K USD 1 Quarter
Travel and accommodation TravelAndEntertainmentExpense $83.49K USD 1 Quarter
Travel and accommodation TravelAndEntertainmentExpense $659.02K USD 1 Quarter
Warranty and related (Note 9) ProductWarrantyExpense $128.70K USD 1 Quarter
Warranty and related (Note 9) ProductWarrantyExpense - USD 1 Quarter
Total expenses OperatingExpenses $700.88K USD 1 Quarter
Total expenses OperatingExpenses $6.64M USD 1 Quarter
Loss before other income (expense) OperatingIncomeLoss $-700.88K USD 1 Quarter
Loss before other income (expense) OperatingIncomeLoss $-4.69M USD 1 Quarter
Loss on change in fair value of derivative liability (Note 11) DerivativeGainLossOnDerivativeNet $-136.95K USD 1 Quarter
Loss on change in fair value of derivative liability (Note 11) DerivativeGainLossOnDerivativeNet $-145.15K USD 1 Quarter
Interest income on finance lease FinanceLeaseInterestExpense $-14.97K USD 1 Quarter
Interest expense InterestExpense $1.50K USD 1 Quarter
Interest expense InterestExpense $2.99K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-123.49K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-148.14K USD 1 Quarter
Net loss for the year NetIncomeLoss $-849.02K USD 1 Quarter
Net loss for the year NetIncomeLoss $-4.81M USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-79.22K USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $114.23K USD 1 Quarter
Comprehensive loss for the year ComprehensiveIncomeNetOfTax $-963.25K USD 1 Quarter
Comprehensive loss for the year ComprehensiveIncomeNetOfTax $-4.74M USD 1 Quarter
Net loss per share, basic and diluted EarningsPerShareBasicAndDiluted $-0.10 USD 1 Quarter
Net loss per share, basic and diluted EarningsPerShareBasicAndDiluted $-0.02 USD 1 Quarter
Weighted average number of shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 41.64M shares 1 Quarter
Weighted average number of shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 46.03M shares 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net loss for the year NetIncomeLoss $-849.02K USD 1 Quarter
Net loss for the year NetIncomeLoss $-4.81M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAsset $218.95K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAsset $218.95K USD 1 Quarter
Amortization on right of use asset AmortizationOfRegulatoryAsset $92.34K USD 1 Quarter
Amortization on right of use asset AmortizationOfRegulatoryAsset - USD 1 Quarter
Depreciation Depreciation $2.36K USD 1 Quarter
Depreciation Depreciation $9.44K USD 1 Quarter
Interest accretion on finance lease InterestAccretionOnFinanceLease $-14.79K USD 1 Quarter
Interest accretion on finance lease InterestAccretionOnFinanceLease - USD 1 Quarter
Loss on change in fair value of derivative liability DerivativeGainLossOnDerivativeNet $-136.95K USD 1 Quarter
Loss on change in fair value of derivative liability DerivativeGainLossOnDerivativeNet $-145.15K USD 1 Quarter
Fair value of stock options granted FairValueOfStockOptionsGranted $13.83K USD 1 Quarter
Fair value of stock options granted FairValueOfStockOptionsGranted - USD 1 Quarter
Stock issued for services StockIssuedForServices $-189.47K USD 1 Quarter
Stock issued for services StockIssuedForServices - USD 1 Quarter
Short-term investments and amounts held in trust ShortTermInvestmentsAndAmountsHeldInTrust - USD 1 Quarter
Short-term investments and amounts held in trust ShortTermInvestmentsAndAmountsHeldInTrust $-837.38K USD 1 Quarter
Accounts receivable and other amounts recoverable IncreaseDecreaseInAccountsReceivable $1.60M USD 1 Quarter
Accounts receivable and other amounts recoverable IncreaseDecreaseInAccountsReceivable $1.44K USD 1 Quarter
Prepaid expenses and deposits IncreaseDecreaseInPrepaidExpense $116.59K USD 1 Quarter
Prepaid expenses and deposits IncreaseDecreaseInPrepaidExpense $124.93K USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $9.66M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset - USD 1 Quarter
Lease payments IncreaseDecreaseInLeasePayments - USD 1 Quarter
Lease payments IncreaseDecreaseInLeasePayments $393.67K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-174.63K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.25M USD 1 Quarter
Warranty accrual IncreaseDecreaseInWarrantyAccrual - USD 1 Quarter
Warranty accrual IncreaseDecreaseInWarrantyAccrual $75.77K USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractLiabilities $15.89M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractLiabilities - USD 1 Quarter
Due to related parties IncreaseDecreaseInDueToRelatedParties $-124.72K USD 1 Quarter
Due to related parties IncreaseDecreaseInDueToRelatedParties $-18.47K USD 1 Quarter
Net Cash From (Used In) Operating Activities NetCashProvidedByUsedInOperatingActivities $-718.82K USD 1 Quarter
Net Cash From (Used In) Operating Activities NetCashProvidedByUsedInOperatingActivities $1.24M USD 1 Quarter
Additions of property and equipment PaymentsToAcquirePropertyPlantAndEquipment - USD 1 Quarter
Additions of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $159.13K USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-159.13K USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities - USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $2.94M USD 1 Quarter
Net Cash Provided by Financing Activities NetCashProvidedByUsedInFinancingActivities - USD 1 Quarter
Net Cash Provided by Financing Activities NetCashProvidedByUsedInFinancingActivities $2.94M USD 1 Quarter
Effect of Foreign Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-139.33K USD 1 Quarter
Effect of Foreign Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $79.23K USD 1 Quarter
Change in Cash CashAndCashEquivalentsPeriodIncreaseDecrease $2.08M USD 1 Quarter
Change in Cash CashAndCashEquivalentsPeriodIncreaseDecrease $1.16M USD 1 Quarter
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $229.88K USD Point-in-time
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $4.02M USD Point-in-time
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $2.86M USD Point-in-time
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $2.31M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $229.88K USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $4.02M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $2.86M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $2.31M USD Point-in-time
Stock issued for services included in prepaid expenses StockIssuedForServicesIncludedInPrepaidExpenses $328.03K USD 1 Quarter
Stock issued for services included in prepaid expenses StockIssuedForServicesIncludedInPrepaidExpenses - USD 1 Quarter
Interest paid InterestPaidNet - USD 1 Quarter
Interest paid InterestPaidNet - USD 1 Quarter
Income taxes paid IncomeTaxesPaid - USD 1 Quarter
Income taxes paid IncomeTaxesPaid - USD 1 Quarter
Stockholders Equity 15 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $14.23M USD Point-in-time
Balance StockholdersEquity $5.30M USD Point-in-time
Balance StockholdersEquity $11.74M USD Point-in-time
Balance StockholdersEquity $575.59K USD Point-in-time
Shares issued pursuant to private placements StockIssuedDuringPeriodValueNewIssues $2.94M USD 1 Quarter
Shares issued for services StockIssuedDuringPeriodValueIssuedForServices $517.50K USD 1 Quarter
Fair value of options granted FairValueOfOptionsGranted $13.83K USD 1 Quarter
Foreign exchange translation gain GoodwillForeignCurrencyTranslationGainLoss $79.22K USD 1 Quarter
Foreign exchange translation gain GoodwillForeignCurrencyTranslationGainLoss $-114.23K USD 1 Quarter
Net loss for the year NetIncomeLoss $-849.02K USD 1 Quarter
Net loss for the year NetIncomeLoss $-4.81M USD 1 Quarter
Balance StockholdersEquity $14.23M USD Point-in-time
Balance StockholdersEquity $5.30M USD Point-in-time
Balance StockholdersEquity $11.74M USD Point-in-time
Balance StockholdersEquity $575.59K USD Point-in-time

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

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