10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001615774-15-003233`
Period End Date	20150930
Filing Date	20151112
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	akts-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 48 Cash Flow Statement 62 Stockholders Equity 14

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
Preferred Stock authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$272.93K	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`	$3.41M	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Inventory	`InventoryNet`	$30.52K	USD	Point-in-time
Preferred Stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$19.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.62K	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
Total current assets	`AssetsCurrent`	$3.47M	USD	Point-in-time
Common Stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.51K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$181.07K	USD	Point-in-time
Common Stock authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$26.97K	USD	Point-in-time
Common Stock issued	`CommonStockSharesIssued`	5.49M	shares	Point-in-time
Common Stock issued	`CommonStockSharesIssued`	12.39M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$44.92K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.82K	USD	Point-in-time
Common Stock outstanding	`CommonStockSharesOutstanding`	12.39M	shares	Point-in-time
Common Stock outstanding	`CommonStockSharesOutstanding`	5.49M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.71K	USD	Point-in-time
Total Assets	`Assets`	$3.71M	USD	Point-in-time
Total Assets	`Assets`	$832.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$377.89K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$58.44K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$655.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$377.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$713.44K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$191.13K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$569.02K	USD	Point-in-time
Total Liabilities	`Liabilities`	$713.44K	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; 12,392,115 and 5,493,200 shares issued and outstanding at September 30, 2015 and March 31, 2015, respectively	`CommonStockValue`	$5.49K	USD	Point-in-time
Common Stock, $0.001 par value; 300,000,000 shares authorized; 12,392,115 and 5,493,200 shares issued and outstanding at September 30, 2015 and March 31, 2015, respectively	`CommonStockValue`	$12.39K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$559.87K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-446.35K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$119.01K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$3.14M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$832.45K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.71M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$515.63K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$74.29K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$321.72K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$78.77K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$761.32K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.42M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$74.02K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$116.41K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.94M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$148.31K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$195.18K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.94M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-195.18K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-148.31K	USD	1 Quarter
Grant income	`RevenueFromGrants`	-	USD	1 Quarter
Grant income	`RevenueFromGrants`	$30.00K	USD	2 Qtrs
Grant income	`RevenueFromGrants`	-	USD	1 Quarter
Grant income	`RevenueFromGrants`	-	USD	2 Qtrs
Interest income	`OtherNonoperatingIncome`	$671.00	USD	2 Qtrs
Interest income	`OtherNonoperatingIncome`	$496.00	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	-	USD	2 Qtrs
Interest income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	2 Qtrs
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	$-14.02K	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInDerivativeLiabilities`	$-15.59K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$46.26K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$14.51K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-148.31K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-195.18K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.89M	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	2 Qtrs
Weighted average common shares outstanding -basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.49M	shares	2 Qtrs
Weighted average common shares outstanding -basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.39M	shares	1 Quarter
Weighted average common shares outstanding -basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.43M	shares	2 Qtrs
Weighted average common shares outstanding -basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.49M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-148.31K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-195.18K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.89M	USD	2 Qtrs
Depreciation	`Depreciation`	$4.53K	USD	1 Quarter
Depreciation	`Depreciation`	$1.94K	USD	2 Qtrs
Depreciation	`Depreciation`	$7.16K	USD	2 Qtrs
Depreciation	`Depreciation`	$1.73K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.54K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$380.00	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$380.00	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.03K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.78K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$226.73K	USD	2 Qtrs
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	-	USD	2 Qtrs
Change in fair value of derivative liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$15.59K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-30.52K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$35.62K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$16.10K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.71K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$319.45K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.97K	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.37M	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-191.82K	USD	2 Qtrs
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$63.70K	USD	2 Qtrs
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$122.72K	USD	2 Qtrs
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$24.23K	USD	2 Qtrs
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$19.49K	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-142.21K	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-87.92K	USD	2 Qtrs
Borrowings from promissory note	`ProceedsFromShortTermDebt`	-	USD	2 Qtrs
Borrowings from promissory note	`ProceedsFromShortTermDebt`	$30.00K	USD	2 Qtrs
Repayment of promissory note	`RepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Repayment of promissory note	`RepaymentsOfShortTermDebt`	$7.33K	USD	2 Qtrs
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$4.24M	USD	2 Qtrs
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$1.00	USD	2 Qtrs
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	2 Qtrs
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$530.00K	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$4.24M	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$552.67K	USD	2 Qtrs
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.73M	USD	2 Qtrs
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$272.93K	USD	2 Qtrs
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$272.93K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$272.93K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Stock compensation payable	`StockCompensationPayable`	$64.66K	USD	2 Qtrs
Stock compensation payable	`StockCompensationPayable`	$1.68K	USD	2 Qtrs
Warrants issued for stock issuance costs	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$206.72K	USD	2 Qtrs
Warrants issued for stock issuance costs	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Conversion of convertible notes into Common Stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	2 Qtrs
Conversion of convertible notes into Common Stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$655.00K	USD	2 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$119.01K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.14M	USD	Point-in-time
Common Stock issued for cash, net of issuance costs, Amount	`StockIssuedDuringPeriodValueOther`	$4.24M	USD	2 Qtrs
Warrants issued to underwriter	`WarrantsIssuedToUnderwriter`	$-206.72K	USD	2 Qtrs
Common Stock issued upon conversion of notes, Amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	2 Qtrs
Common Stock issued upon conversion of notes, Amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$655.00K	USD	2 Qtrs
Recapitalization, Amount	`RecapitalizationCosts`	-	USD	2 Qtrs
Common Stock issued for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$226.73K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-148.31K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-195.18K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.89M	USD	2 Qtrs
Ending Balance, Amount	`StockholdersEquity`	$119.01K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.14M	USD	Point-in-time

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