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10-Q Filing

PACIFIC GREEN TECHNOLOGIES INC. CIK: 1553404 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001213900-20-022260
Period End Date 20200630
Filing Date 20200814
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance pgtk-20200630.xml
Balance Sheet 91 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 $4.02M 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
Cash CashAndCashEquivalentsAtCarryingValue $18.87M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $2.86M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $21.39M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued - shares Point-in-time
Short-term investments and amounts in escrow (Note 3) ShortTermInvestments $718.10K USD Point-in-time
Short-term investments and amounts in escrow (Note 3) ShortTermInvestments $53.11K USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued - shares Point-in-time
Accounts receivable and other amounts recoverable AccountsReceivableAndOtherAmountsRecoverable $15.93M USD Point-in-time
Accounts receivable and other amounts recoverable AccountsReceivableAndOtherAmountsRecoverable $16.16M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding - shares Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding - shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Prepaid expenses and deposits PrepaidExpenseCurrent $724.98K USD Point-in-time
Prepaid expenses and deposits PrepaidExpenseCurrent $839.71K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Parts inventory InventoryNet $90.40K USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Parts inventory InventoryNet - USD Point-in-time
Contract assets (Note 8) ContractWithCustomerAssetNetCurrent $24.60M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 45.66M shares Point-in-time
Contract assets (Note 8) ContractWithCustomerAssetNetCurrent $18.96M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 45.66M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 45.66M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 45.66M shares Point-in-time
Lease receivable, current portion (Note 4) ReceivablesNetCurrent $472.00K USD Point-in-time
Lease receivable, current portion (Note 4) ReceivablesNetCurrent $472.00K USD Point-in-time
Due from related parties (Note 12) DueFromRelatedParties - USD Point-in-time
Due from related parties (Note 12) DueFromRelatedParties $42.74K USD Point-in-time
Total Current Assets AssetsCurrent $64.18M USD Point-in-time
Total Current Assets AssetsCurrent $55.14M USD Point-in-time
Lease receivable (Note 4) LoansAndLeasesReceivableNetReportedAmount $369.63K USD Point-in-time
Lease receivable (Note 4) LoansAndLeasesReceivableNetReportedAmount $263.00K USD Point-in-time
Long term receivable LongTermInvestmentsAndReceivablesNet $2.03M USD Point-in-time
Long term receivable LongTermInvestmentsAndReceivablesNet $3.89M USD Point-in-time
Property and equipment (Note 5) PropertyPlantAndEquipmentNet $181.06K USD Point-in-time
Property and equipment (Note 5) PropertyPlantAndEquipmentNet $1.30M USD Point-in-time
Property and equipment (Note 5) PropertyPlantAndEquipmentNet $1.30M USD Point-in-time
Intangible assets (Note 6) IntangibleAssetsNetExcludingGoodwill $12.58M USD Point-in-time
Intangible assets (Note 6) IntangibleAssetsNetExcludingGoodwill $12.19M USD Point-in-time
Goodwill (Note 7) Goodwill $3.52M USD Point-in-time
Goodwill (Note 7) Goodwill $3.52M USD Point-in-time
Right of use asset (Note 16) OperatingLeaseRightOfUseAsset $1.81M USD Point-in-time
Right of use asset (Note 16) OperatingLeaseRightOfUseAsset $1.62M USD Point-in-time
Security deposit SecurityDeposit $420.57K USD Point-in-time
Security deposit SecurityDeposit $430.57K USD Point-in-time
Total Assets Assets $86.23M USD Point-in-time
Total Assets Assets $78.34M USD Point-in-time
Accounts payable and accrued liabilities (Note 10) AccountsPayableAndAccruedLiabilitiesCurrent $42.28M USD Point-in-time
Accounts payable and accrued liabilities (Note 10) AccountsPayableAndAccruedLiabilitiesCurrent $35.92M USD Point-in-time
Warranty provision (Note 11) WarrantyProvisionCurrent $1.09M USD Point-in-time
Warranty provision (Note 11) WarrantyProvisionCurrent $1.40M USD Point-in-time
Contract liabilities (Note 8) ContractLiabilitiesCurrent $23.55M USD Point-in-time
Contract liabilities (Note 8) ContractLiabilitiesCurrent $18.85M USD Point-in-time
Convertible debenture (Note 9) ConvertibleDebtCurrent $30.00K USD Point-in-time
Convertible debenture (Note 9) ConvertibleDebtCurrent $30.00K USD Point-in-time
Current portion of operating lease obligation (Note 16) OperatingLeaseLiabilityCurrent $548.34K USD Point-in-time
Current portion of operating lease obligation (Note 16) OperatingLeaseLiabilityCurrent $480.67K USD Point-in-time
Due to related parties (Note 12) DueToRelatedPartiesCurrent $40.38K USD Point-in-time
Due to related parties (Note 12) DueToRelatedPartiesCurrent $42.14K USD Point-in-time
Derivative liability (Note 9) DerivativeLiabilitiesCurrent $183.30K USD Point-in-time
Derivative liability (Note 9) DerivativeLiabilitiesCurrent $174.48K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $67.71M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $56.91M USD Point-in-time
Long-term accounts payable and accrued liabilities (Note 10) AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $3.11M USD Point-in-time
Long-term accounts payable and accrued liabilities (Note 10) AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $1.62M USD Point-in-time
Long-term operating lease obligation (Note 16) LongTermDebtAndCapitalLeaseObligations $1.25M USD Point-in-time
Long-term operating lease obligation (Note 16) LongTermDebtAndCapitalLeaseObligations $1.31M USD Point-in-time
Total Liabilities Liabilities $70.64M USD Point-in-time
Total Liabilities Liabilities $61.26M 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 45,659,971 and 45,659,971 shares issued and outstanding, respectively CommonStockValue $45.66K USD Point-in-time
Common stock, 500,000,000 shares authorized, $0.001 par value 45,659,971 and 45,659,971 shares issued and outstanding, respectively CommonStockValue $45.66K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $90.71M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $90.65M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $207.02K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $151.22K USD Point-in-time
Deficit RetainedEarningsAccumulatedDeficit $-73.83M USD Point-in-time
Deficit RetainedEarningsAccumulatedDeficit $-75.32M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $5.30M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $17.08M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $15.58M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $575.59K USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $86.23M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $78.34M USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Sales (Note 8) Revenues $4.76M USD 1 Quarter
Sales (Note 8) Revenues $28.50M USD 1 Quarter
Cost of goods sold (Note 8) CostOfRevenue $2.82M USD 1 Quarter
Cost of goods sold (Note 8) CostOfRevenue $16.46M USD 1 Quarter
Gross margin GrossProfit $1.95M USD 1 Quarter
Gross margin GrossProfit $12.04M USD 1 Quarter
Advertising and promotion MarketingAndAdvertisingExpense $545.05K USD 1 Quarter
Advertising and promotion MarketingAndAdvertisingExpense $228.38K USD 1 Quarter
Amortization of intangible assets (Note 6) AmortizationOfIntangibleAssets $218.95K USD 1 Quarter
Amortization of intangible assets (Note 6) AmortizationOfIntangibleAssets $389.66K USD 1 Quarter
Consulting fees, technical support, and commissions ConsultingFeesTechnicalSupportAndCommissions $2.89M USD 1 Quarter
Consulting fees, technical support, and commissions ConsultingFeesTechnicalSupportAndCommissions $5.51M USD 1 Quarter
Depreciation (Note 5) Depreciation $47.44K USD 1 Quarter
Depreciation (Note 5) Depreciation $9.44K USD 1 Quarter
Foreign exchange loss (gain) ForeignCurrencyTransactionGainLossBeforeTax $-250.84K USD 1 Quarter
Foreign exchange loss (gain) ForeignCurrencyTransactionGainLossBeforeTax $162.95K USD 1 Quarter
Operating lease expense (Note 16) OperatingLeaseExpense $102.46K USD 1 Quarter
Operating lease expense (Note 16) OperatingLeaseExpense $130.13K USD 1 Quarter
Office and miscellaneous OfficeAndMiscellaneous $493.65K USD 1 Quarter
Office and miscellaneous OfficeAndMiscellaneous $657.01K USD 1 Quarter
Professional fees ProfessionalFees $310.69K USD 1 Quarter
Professional fees ProfessionalFees $613.12K USD 1 Quarter
Salaries and wage expenses SalariesAndWages $917.54K USD 1 Quarter
Salaries and wage expenses SalariesAndWages $2.20M USD 1 Quarter
Transfer agent and filing fees OtherFinancialServiceCosts $108.24K USD 1 Quarter
Transfer agent and filing fees OtherFinancialServiceCosts $69.31K USD 1 Quarter
Travel and accommodation TravelAndEntertainmentExpense $62.58K USD 1 Quarter
Travel and accommodation TravelAndEntertainmentExpense $659.02K USD 1 Quarter
Warranty and related (Note 11) ProductWarrantyExpense $128.70K USD 1 Quarter
Warranty and related (Note 11) ProductWarrantyExpense $863.88K USD 1 Quarter
Total expenses OperatingExpenses $10.61M USD 1 Quarter
Total expenses OperatingExpenses $6.64M USD 1 Quarter
Income (loss) before other income (expense) OperatingIncomeLoss $-4.69M USD 1 Quarter
Income (loss) before other income (expense) OperatingIncomeLoss $1.43M USD 1 Quarter
Gain (loss) on change in fair value of derivative liability (Note 9) DerivativeGainLossOnDerivativeNet $-136.95K USD 1 Quarter
Gain (loss) on change in fair value of derivative liability (Note 9) DerivativeGainLossOnDerivativeNet $-8.82K USD 1 Quarter
Financing interest income InterestIncomeOnFinanceLease $14.97K USD 1 Quarter
Financing interest income InterestIncomeOnFinanceLease $57.71K USD 1 Quarter
Interest income (expense) InterestIncomeExpenseNet $11.28K USD 1 Quarter
Interest income (expense) InterestIncomeExpenseNet $-1.50K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $60.17K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-123.49K USD 1 Quarter
Net income (loss) for the period NetIncomeLoss $-4.81M USD 1 Quarter
Net income (loss) for the period NetIncomeLoss $1.49M USD 1 Quarter
Foreign currency translation (loss) gain OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $55.80K USD 1 Quarter
Foreign currency translation (loss) gain OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-79.22K USD 1 Quarter
Comprehensive income (loss) for the period ComprehensiveIncomeNetOfTax $-4.74M USD 1 Quarter
Comprehensive income (loss) for the period ComprehensiveIncomeNetOfTax $1.43M USD 1 Quarter
Net income (loss) per share, basic and diluted EarningsPerShareBasicAndDiluted $0.03 USD 1 Quarter
Net income (loss) per share, basic and diluted EarningsPerShareBasicAndDiluted $-0.10 USD 1 Quarter
Weighted average number of shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 46.03M shares 1 Quarter
Weighted average number of shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 46.15M shares 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net income (loss) for the year NetIncomeLoss $-4.81M USD 1 Quarter
Net income (loss) for the year NetIncomeLoss $1.49M USD 1 Quarter
Amortization of intangible assets (Note 6) AmortizationOfIntangibleAssets $218.95K USD 1 Quarter
Amortization of intangible assets (Note 6) AmortizationOfIntangibleAssets $389.66K USD 1 Quarter
Lease expense - amortization of right of use assets and interest accretion LeaseExpenseAmortizationOfRightOfUseAssetsAndInterestAccretion $130.13K USD 1 Quarter
Lease expense - amortization of right of use assets and interest accretion LeaseExpenseAmortizationOfRightOfUseAssetsAndInterestAccretion $92.34K USD 1 Quarter
Depreciation (Note 5) CostOfGoodAndServicesSoldDepreciation $9.44K USD 1 Quarter
Depreciation (Note 5) CostOfGoodAndServicesSoldDepreciation $47.44K USD 1 Quarter
Lease finance charge InterestAccretionOnFinanceLease $11.36K USD 1 Quarter
Lease finance charge InterestAccretionOnFinanceLease $-14.79K USD 1 Quarter
Loss (gain) on change in fair value of derivative liability (Note 9) DerivativeGainsLossOnDerivativeNet $136.95K USD 1 Quarter
Loss (gain) on change in fair value of derivative liability (Note 9) DerivativeGainsLossOnDerivativeNet $8.82K USD 1 Quarter
Unrealized loss(gain) on foreign exchange ForeignCurrencyTransactionGainLossUnrealized - USD 1 Quarter
Unrealized loss(gain) on foreign exchange ForeignCurrencyTransactionGainLossUnrealized $-96.65K USD 1 Quarter
Fair value of stock options granted (Note 14) FairValueOfStockOptionsGranted $13.83K USD 1 Quarter
Fair value of stock options granted (Note 14) FairValueOfStockOptionsGranted $60.82K USD 1 Quarter
Short-term investments and amounts held in trust ShortTermInvestmentsAndAmountsHeldInTrust $-837.38K USD 1 Quarter
Short-term investments and amounts held in trust ShortTermInvestmentsAndAmountsHeldInTrust $664.99K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $1.60M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $1.53M USD 1 Quarter
Prepaid expenses and deposits IncreaseDecreaseInPrepaidExpense $-34.32K USD 1 Quarter
Prepaid expenses and deposits IncreaseDecreaseInPrepaidExpense $116.59K USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $9.66M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-5.64M USD 1 Quarter
Lease payments IncreaseDecreaseInLeasePayments $158.17K USD 1 Quarter
Lease payments IncreaseDecreaseInLeasePayments $393.67K USD 1 Quarter
Due from related parties IncreaseDecreaseInDueFromRelatedParties $42.74K USD 1 Quarter
Due from related parties IncreaseDecreaseInDueFromRelatedParties - USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-4.87M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.25M USD 1 Quarter
Warranty provision IncreaseDecreaseInWarrantyAccrual $314.25K USD 1 Quarter
Warranty provision IncreaseDecreaseInWarrantyAccrual $75.77K USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractLiabilities $-4.70M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractLiabilities $15.89M USD 1 Quarter
Due to related parties IncreaseDecreaseInDueToRelatedParties $-1.76K USD 1 Quarter
Due to related parties IncreaseDecreaseInDueToRelatedParties $-18.47K USD 1 Quarter
Net Cash Provided by (Used in) Operating Activities NetCashProvidedByUsedInOperatingActivities $-2.42M USD 1 Quarter
Net Cash Provided by (Used in) Operating Activities NetCashProvidedByUsedInOperatingActivities $1.24M USD 1 Quarter
Additions of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $159.13K USD 1 Quarter
Additions of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $46.49K USD 1 Quarter
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-159.13K USD 1 Quarter
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-46.49K USD 1 Quarter
Effect of Foreign Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $79.23K USD 1 Quarter
Effect of Foreign Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-55.80K USD 1 Quarter
Change in Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.16M USD 1 Quarter
Change in Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-2.52M USD 1 Quarter
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $4.02M USD Point-in-time
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $18.87M USD Point-in-time
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $2.86M USD Point-in-time
Cash, Beginning of Year CashAndCashEquivalentsAtCarryingValue $21.39M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $4.02M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $18.87M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $2.86M USD Point-in-time
Cash, End of Year CashAndCashEquivalentsAtCarryingValue $21.39M USD Point-in-time
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 14 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $5.30M USD Point-in-time
Balance StockholdersEquity $17.08M USD Point-in-time
Balance StockholdersEquity $15.58M USD Point-in-time
Balance StockholdersEquity $575.59K USD Point-in-time
Fair value of options granted (Note 14) FairValueOfOptionsGranted $13.83K USD 1 Quarter
Fair value of options granted (Note 14) FairValueOfOptionsGranted $60.82K USD 1 Quarter
Foreign exchange translation gain GoodwillForeignCurrencyTranslationGainLoss $-55.80K USD 1 Quarter
Foreign exchange translation gain GoodwillForeignCurrencyTranslationGainLoss $79.22K USD 1 Quarter
Net loss for the period ProfitLoss $-4.81M USD 1 Quarter
Net loss for the period ProfitLoss $1.49M USD 1 Quarter
Balance StockholdersEquity $5.30M USD Point-in-time
Balance StockholdersEquity $17.08M USD Point-in-time
Balance StockholdersEquity $15.58M USD Point-in-time
Balance StockholdersEquity $575.59K USD Point-in-time
Comprehensive Income 2 line items
Line Item Tag Value Unit Period
Nominal cash consideration NominalCashConsiderations 487,500.00 shares 1 Quarter
Nominal cash consideration NominalCashConsiderations 537,500.00 shares 1 Quarter

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

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