10-Q Filing

DUOS TECHNOLOGIES GROUP, INC. CIK: 1396536 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001553350-18-000566`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	duos-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 40 Cash Flow Statement 71

Balance Sheet 80 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`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares available to be designated	`PreferredStockSharesAvailableToBeDesignated`	9.48M	shares	Point-in-time
Preferred stock, shares available to be designated	`PreferredStockSharesAvailableToBeDesignated`	9.48M	shares	Point-in-time
Cash	`Cash`	$1.94M	USD	Point-in-time
Cash	`Cash`	$66.84K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$298.30K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.41M	USD	Point-in-time
Contract Assets	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$608.29K	USD	Point-in-time
Contract Assets	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$423.79K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$90.92K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$187.44K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.28M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.75M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$115.76K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.36K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.71M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.71M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.66M	shares	Point-in-time
Software Development Costs, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Software Development Costs, net	`FiniteLivedIntangibleAssetsNet`	$55.00K	USD	Point-in-time
Patents and trademarks, net	`IntangibleAssetsNetExcludingGoodwill`	$45.98K	USD	Point-in-time
Treasury stock shares	`TreasuryStockCommonShares`	3,280.00	shares	Point-in-time
Patents and trademarks, net	`IntangibleAssetsNetExcludingGoodwill`	$45.62K	USD	Point-in-time
Treasury stock shares	`TreasuryStockCommonShares`	3,280.00	shares	Point-in-time
Total Other Assets	`OtherAssets`	$100.62K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$45.98K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.49M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$790.18K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$812.62K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$12.60K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$12.60K	USD	Point-in-time
Notes payable - financing agreements	`OtherNotesPayableCurrent`	$49.66K	USD	Point-in-time
Notes payable - financing agreements	`OtherNotesPayableCurrent`	$124.77K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$9.08K	USD	Point-in-time
Line of credit	`LineOfCredit`	$34.51K	USD	Point-in-time
Line of credit	`LineOfCredit`	$34.21K	USD	Point-in-time
Payroll taxes payable	`AccruedPayrollTaxesCurrent`	$158.06K	USD	Point-in-time
Payroll taxes payable	`AccruedPayrollTaxesCurrent`	$149.45K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$497.28K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$353.73K	USD	Point-in-time
Contract Liabilities	`BillingsInExcessOfCostCurrent`	$722.58K	USD	Point-in-time
Contract Liabilities	`BillingsInExcessOfCostCurrent`	$200.41K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$343.95K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$438.91K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.54M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.20M	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesNoncurrent`	$39.14K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.54M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	$2.83M	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	$2.83M	USD	Point-in-time
Common stock: $0.001 par value; 500,000,000 shares authorized 20,710,059 and 20,657,850 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$20.66K	USD	Point-in-time
Common stock: $0.001 par value; 500,000,000 shares authorized 20,710,059 and 20,657,850 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$20.71K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.61M	USD	Point-in-time
Total stock & paid-in-capital	`AdditionalPaidInCapital`	$26.70M	USD	Point-in-time
Total stock & paid-in-capital	`AdditionalPaidInCapital`	$26.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.43M	USD	Point-in-time
Sub-total	`TotalPaidInCapitalAndRetainedEarningsDeficit`	$-2.73M	USD	Point-in-time
Sub-total	`TotalPaidInCapitalAndRetainedEarningsDeficit`	$-2.06M	USD	Point-in-time
Less: Treasury stock (3,280 shares of common stock)	`TreasuryStockCommonValue`	$148.00K	USD	Point-in-time
Less: Treasury stock (3,280 shares of common stock)	`TreasuryStockCommonValue`	$148.00K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$622.53K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-46.86K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.87M	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.49M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Total Revenues	`Revenues`	$1.04M	USD	1 Quarter
Total Revenues	`Revenues`	$1.15M	USD	1 Quarter
Total Cost of Revenues	`CostOfRevenue`	$631.39K	USD	1 Quarter
Total Cost of Revenues	`CostOfRevenue`	$671.36K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$476.57K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$404.34K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$68.75K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$41.22K	USD	1 Quarter
Salaries, wages and contract labor	`SalariesAndWages`	$735.60K	USD	1 Quarter
Salaries, wages and contract labor	`SalariesAndWages`	$765.87K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$87.62K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$135.28K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$120.15K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$63.87K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$209.84K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$247.99K	USD	1 Quarter
Total Operating Expenses	`OperatingCostsAndExpenses`	$1.22M	USD	1 Quarter
Total Operating Expenses	`OperatingCostsAndExpenses`	$1.26M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-855.76K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-739.50K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$5.73K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$921.31K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$64.65K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Warrant derivative gain (loss)	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Warrant derivative gain (loss)	`DerivativeGainLossOnDerivativeNet`	$-582.39K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$2.13K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$1.00	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-3.60K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-1.44M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-743.10K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.29M	USD	1 Quarter
Series A preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Series A preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$5.92K	USD	1 Quarter
Net loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-743.10K	USD	1 Quarter
Net loss applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.30M	USD	1 Quarter
Basic & Diluted	`EarningsPerShareBasicAndDiluted`	$-1.21	USD	1 Quarter
Basic & Diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic & Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.71M	shares	1 Quarter
Basic & Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.89M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Cash fees	`PaymentsForFees`	$117.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-743.10K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$19.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.19K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$64.65K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Stock and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$15.00K	USD	1 Quarter
Stock and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Amortization of debt discounts	`AmortizationOfFinancingCostsAndDiscounts`	$844.99K	USD	1 Quarter
Amortization of debt discounts	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	1 Quarter
Warrant derivative loss	`FairValueAdjustmentOfWarrants`	$582.39K	USD	1 Quarter
Warrant derivative loss	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$267.88K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$1.12M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$-329.03K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$184.49K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-61.97K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-53.03K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$53.25K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-22.44K	USD	1 Quarter
Accounts payable-related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.41K	USD	1 Quarter
Accounts payable-related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Payroll taxes payable	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$8.61K	USD	1 Quarter
Payroll taxes payable	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$259.06K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-69.84K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$52.23K	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$522.17K	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.50K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-261.20K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-94.96K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.63M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-675.53K	USD	1 Quarter
Purchase of software	`PaymentsForSoftware`	$60.00K	USD	1 Quarter
Purchase of software	`PaymentsForSoftware`	-	USD	1 Quarter
Purchase of patents/trademarks	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of patents/trademarks	`PaymentsToAcquireIntangibleAssets`	$1.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$63.11K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.27K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-124.11K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.27K	USD	1 Quarter
Proceeds from related party notes	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from related party notes	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-13.61K	USD	1 Quarter
Repayments of line of credit	`RepaymentsOfLinesOfCredit`	$301.00	USD	1 Quarter
Repayments of line of credit	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Repayments of related party notes	`RepaymentsOfRelatedPartyDebt`	$48.22K	USD	1 Quarter
Repayments of related party notes	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Repayments of insurance and equipment financing	`RepaymentsOfInsuranceAndEquipmentFinancing`	$26.29K	USD	1 Quarter
Repayments of insurance and equipment financing	`RepaymentsOfInsuranceAndEquipmentFinancing`	$74.44K	USD	1 Quarter
Repayments of notes payable	`RepaymentsOfNotesPayable`	$172.50K	USD	1 Quarter
Repayments of notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Proceeds of notes payable, net of $117,000 cash fees	`ProceedsFromNotesPayable`	$783.00K	USD	1 Quarter
Proceeds of notes payable, net of $117,000 cash fees	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Net cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-122.95K	USD	1 Quarter
Net cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$570.60K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-121.19K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.87M	USD	1 Quarter
Cash, beginning of period	`OtherCashEquivalentsAtCarryingValue`	$174.38K	USD	Point-in-time
Cash, beginning of period	`OtherCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$66.84K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.19K	USD	Point-in-time
Interest paid	`InterestPaid`	$3.52K	USD	1 Quarter
Interest paid	`InterestPaid`	$45.33K	USD	1 Quarter
Common stock issues for accrued BOD fees	`StockIssued1`	$73.71K	USD	1 Quarter
Common stock issues for accrued BOD fees	`StockIssued1`	-	USD	1 Quarter
Accrued interest forgiven related to note payable settlement	`DebtInstrumentDecreaseForgiveness`	$20.70K	USD	1 Quarter
Accrued interest forgiven related to note payable settlement	`DebtInstrumentDecreaseForgiveness`	-	USD	1 Quarter
Debt discount related to notes payable	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	1 Quarter
Debt discount related to notes payable	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$992.37K	USD	1 Quarter
Note issued for financing of insurance premiums	`NotesIssued1`	-	USD	1 Quarter
Note issued for financing of insurance premiums	`NotesIssued1`	$1.28M	USD	1 Quarter

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