10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001615774-16-004201`
Period End Date	20151231
Filing Date	20160216
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	akts-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 48 Cash Flow Statement 64 Stockholders Equity 20

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$118.12K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.48M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Inventory	`InventoryNet`	$30.52K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$19.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$67.89K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$737.26K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$192.06K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.51K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.49M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.02M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$46.57K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	5.49M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$26.97K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	3.00M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.02M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.71K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$60.97K	USD	Point-in-time
Total Assets	`Assets`	$2.85M	USD	Point-in-time
Total Assets	`Assets`	$832.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$58.44K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$509.62K	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`	$509.62K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$713.44K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$185.72K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$713.44K	USD	Point-in-time
Total Liabilities	`Liabilities`	$695.33K	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; 13,021,315 and 5,493,200 shares issued and outstanding at December 31, 2015 and March 31, 2015, respectively	`CommonStockValue`	$13.02K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized; 13,021,315 and 5,493,200 shares issued and outstanding at December 31, 2015 and March 31, 2015, respectively	`CommonStockValue`	$5.49K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$559.87K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$5.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-446.35K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.16M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$119.01K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.85M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$832.45K	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
Revenue	`SalesRevenueNet`	-	USD	3 Qtrs
Revenue	`SalesRevenueNet`	-	USD	3 Qtrs
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$867.53K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$62.64K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$351.89K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$141.41K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$210.89K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$94.47K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.15M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$724.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$352.29K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$157.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.01M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-157.12K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.01M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-352.29K	USD	3 Qtrs
Grant income	`NonOperatingIncomeFromGrants`	$30.00K	USD	3 Qtrs
Grant income	`NonOperatingIncomeFromGrants`	-	USD	1 Quarter
Grant income	`NonOperatingIncomeFromGrants`	-	USD	1 Quarter
Grant income	`NonOperatingIncomeFromGrants`	-	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$352.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.02K	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$21.00K	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$5.41K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$5.77K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$52.02K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	-	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-157.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-352.29K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.96M	USD	3 Qtrs
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	3 Qtrs
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	3 Qtrs
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.49M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.77M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.22M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.49M	shares	3 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-157.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-352.29K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.96M	USD	3 Qtrs
Depreciation	`Depreciation`	$15.62K	USD	3 Qtrs
Depreciation	`Depreciation`	$8.46K	USD	1 Quarter
Depreciation	`Depreciation`	$2.19K	USD	1 Quarter
Depreciation	`Depreciation`	$4.13K	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$380.00	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$378.00	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$760.00	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.92K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$308.15K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$1.92K	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$21.00K	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$5.41K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-30.52K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$48.89K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$58.26K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.71K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$451.18K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.72K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.28M	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-329.48K	USD	3 Qtrs
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$71.19K	USD	3 Qtrs
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$142.17K	USD	3 Qtrs
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$21.52K	USD	3 Qtrs
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$26.43K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-97.62K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-163.69K	USD	3 Qtrs
Borrowings from promissory note	`ProceedsFromNotesPayable`	$30.00K	USD	3 Qtrs
Borrowings from promissory note	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Repayment of promissory note	`RepaymentsOfNotesPayable`	$14.78K	USD	3 Qtrs
Repayment of promissory note	`RepaymentsOfNotesPayable`	-	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.24M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.00	USD	3 Qtrs
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$530.00K	USD	3 Qtrs
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$545.23K	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.24M	USD	3 Qtrs
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$118.12K	USD	3 Qtrs
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.80M	USD	3 Qtrs
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`	$118.12K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.48M	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`	$118.12K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.48M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	$716.00	USD	3 Qtrs
Stock compensation payable	`LiabilitiesAssumed1`	$89.60K	USD	3 Qtrs
Stock compensation payable	`LiabilitiesAssumed1`	$1.68K	USD	3 Qtrs
Warrants issued for stock issuance costs	`StockIssued1`	-	USD	3 Qtrs
Warrants issued for stock issuance costs	`StockIssued1`	$206.72K	USD	3 Qtrs
Conversion of convertible notes into common stock	`StockIssued2`	$655.00K	USD	3 Qtrs
Conversion of convertible notes into common stock	`StockIssued2`	-	USD	3 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$2.16M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$119.01K	USD	Point-in-time
Balance, beginning (in shares)	`CommonStockSharesOutstanding`	5.49M	shares	Point-in-time
Balance, beginning (in shares)	`CommonStockSharesOutstanding`	3.00M	shares	Point-in-time
Balance, beginning (in shares)	`CommonStockSharesOutstanding`	13.02M	shares	Point-in-time
Common stock issued for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$4.24M	USD	3 Qtrs
Common stock issued for cash, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	7.88M	shares	Point-in-time
Warrants issued to underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$206.72K	USD	3 Qtrs
Common stock issued upon conversion of notes	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$655.00K	USD	3 Qtrs
Recapitalization	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	3 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$308.15K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-157.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-352.29K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.96M	USD	3 Qtrs
Balance, ending	`StockholdersEquity`	$2.16M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$119.01K	USD	Point-in-time
Balance, ending (in shares)	`CommonStockSharesOutstanding`	5.49M	shares	Point-in-time
Balance, ending (in shares)	`CommonStockSharesOutstanding`	3.00M	shares	Point-in-time
Balance, ending (in shares)	`CommonStockSharesOutstanding`	13.02M	shares	Point-in-time

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