10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001615774-15-002261`
Period End Date	20150630
Filing Date	20150814
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	akts-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 24 Cash Flow Statement 52 Stockholders Equity 12

Balance Sheet 58 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Preferred Stock authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$489.64K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Preferred Stock authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Preferred Stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$30.52K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$19.00K	USD	Point-in-time
Preferred Stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$59.81K	USD	Point-in-time
Preferred Stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.39M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$737.26K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.51K	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$81.64K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$31.08K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$26.97K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	4.87M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	11.85M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.71K	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	11.85M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	4.87M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.71K	USD	Point-in-time
Total Assets	`Assets`	$4.51M	USD	Point-in-time
Total Assets	`Assets`	$832.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$58.44K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$122.51K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$655.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$122.51K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$713.44K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$205.14K	USD	Point-in-time
Total Liabilities	`Liabilities`	$713.44K	USD	Point-in-time
Total Liabilities	`Liabilities`	$327.66K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, par value $0.001: 10,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, par value $0.001: 10,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized; 11,845,226 and 4,869,342 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively	`CommonStockValue`	$4.87K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized; 11,845,226 and 4,869,342 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively	`CommonStockValue`	$11.85K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.44M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$560.49K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-446.35K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$4.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$119.01K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$832.45K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.51M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$193.91K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.47K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$42.40K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$660.13K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$46.87K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$854.04K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-854.04K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-46.87K	USD	1 Quarter
Grant income	`RevenueFromGrants`	-	USD	1 Quarter
Grant income	`RevenueFromGrants`	$30.00K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$175.00	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	$-1.57K	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$31.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-46.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-822.30K	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.49M	shares	1 Quarter
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.82M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-46.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-822.30K	USD	1 Quarter
Depreciation	`Depreciation`	$2.63K	USD	1 Quarter
Depreciation	`Depreciation`	$211.00	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$506.00	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$198.45K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$190.00	USD	1 Quarter
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$1.57K	USD	1 Quarter
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-30.52K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$40.81K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$64.08K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.95K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.52K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-576.49K	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$18.76K	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$9.67K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$4.62K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$1.18K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.38K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.84K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.24M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.00	USD	1 Quarter
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$530.00K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$4.24M	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$530.00K	USD	1 Quarter
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.64M	USD	1 Quarter
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$489.64K	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$489.64K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$489.64K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Stock compensation payable	`StockCompensationPayable`	$27.21K	USD	1 Quarter
Stock compensation payable	`StockCompensationPayable`	$190.00	USD	1 Quarter
Warrants issued for stock issuance costs	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Warrants issued for stock issuance costs	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$206.72K	USD	1 Quarter
Conversion of convertible notes into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$655.00K	USD	1 Quarter
Conversion of convertible notes into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balence, Amount	`StockholdersEquity`	$4.19M	USD	Point-in-time
Beginning Balence, Amount	`StockholdersEquity`	$119.01K	USD	Point-in-time
Common stock issued for cash, net of issuance costs, Amount	`StockIssuedDuringPeriodValueOther`	$4.24M	USD	1 Quarter
Warrants issued to underwriter	`WarrantsIssuedToUnderwriter`	$-206.72K	USD	1 Quarter
Common stock issued upon conversion of notes, Amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$655.00K	USD	1 Quarter
Common stock issued upon conversion of notes, Amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Recapitalization, Amount	`RecapitalizationCosts`	-	USD	1 Quarter
Common stock issued for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$198.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-46.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-822.30K	USD	1 Quarter
Ending Balence, Amount	`StockholdersEquity`	$4.19M	USD	Point-in-time
Ending Balence, Amount	`StockholdersEquity`	$119.01K	USD	Point-in-time

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