10-K Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001615774-16-006132`
Period End Date	20160331
Filing Date	20160629
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	akts-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 26 Cash Flow Statement 54 Stockholders Equity 21

Balance Sheet 56 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`	$2.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Inventory	`InventoryNet`	$30.52K	USD	Point-in-time
Inventory	`InventoryNet`	$43.54K	USD	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`	$59.46K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.83M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$737.26K	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`	13.62M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$182.91K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	5.49M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.62M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$60.65K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$26.97K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.71K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.71K	USD	Point-in-time
Total Assets	`Assets`	$3.09M	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`	$367.29K	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`	$713.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$367.29K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$313.71K	USD	Point-in-time
Total Liabilities	`Liabilities`	$713.44K	USD	Point-in-time
Total Liabilities	`Liabilities`	$681.00K	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; 13,615,440 and 5,493,200 shares issued and outstanding at March 31, 2016 and 2015, respectively	`CommonStockValue`	$13.62K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized; 13,615,440 and 5,493,200 shares issued and outstanding at March 31, 2016 and 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`	$6.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-446.35K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.16M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.41M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$119.01K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$832.45K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	-	USD	Annual
Revenue	`SalesRevenueNet`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.22M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$244.63K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$339.21K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.65M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.87M	USD	Annual
Total operating expenses	`OperatingExpenses`	$583.85K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.87M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-583.85K	USD	Annual
Grant income	`NonOperatingIncomeFromGrants`	$264.33K	USD	Annual
Grant income	`NonOperatingIncomeFromGrants`	$137.50K	USD	Annual
Other income	`OtherIncome`	-	USD	Annual
Other income	`OtherIncome`	$500.00	USD	Annual
Interest income	`InvestmentIncomeInterest`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.33K	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-106.99K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$137.50K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$159.17K	USD	Annual
Net loss	`NetIncomeLoss`	$-446.35K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.71M	USD	Annual
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.32	USD	Annual
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.49M	shares	Annual
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.70M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-446.35K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.71M	USD	Annual
Depreciation	`Depreciation`	$5.67K	USD	Annual
Depreciation	`Depreciation`	$26.04K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.04K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.71K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$6.22K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$639.64K	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-106.99K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$13.02K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$30.52K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$40.46K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$19.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.71K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$52.58K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$207.81K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-433.06K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.79M	USD	Annual
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$143.43K	USD	Annual
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$71.19K	USD	Annual
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$28.01K	USD	Annual
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$36.40K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-179.83K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-99.20K	USD	Annual
Borrowings from promissory note	`ProceedsFromNotesPayable`	-	USD	Annual
Borrowings from promissory note	`ProceedsFromNotesPayable`	$30.00K	USD	Annual
Repayment of promissory note	`RepaymentsOfNotesPayable`	$30.00K	USD	Annual
Repayment of promissory note	`RepaymentsOfNotesPayable`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$35.00K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.01M	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$530.00K	USD	Annual
Proceeds received from convertible note	`ProceedsFromConvertibleDebt`	$655.00K	USD	Annual
Proceeds received from convertible note	`ProceedsFromConvertibleDebt`	-	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.22M	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.01M	USD	Annual
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.04M	USD	Annual
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$687.74K	USD	Annual
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$687.74K	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Interest	`InterestPaid`	-	USD	Annual
Interest	`InterestPaid`	$984.00	USD	Annual
Stock compensation payable	`LiabilitiesAssumed1`	$5.86K	USD	Annual
Stock compensation payable	`LiabilitiesAssumed1`	$101.05K	USD	Annual
Warrants issued for stock issuance costs	`StockIssued1`	$206.72K	USD	Annual
Warrants issued for stock issuance costs	`StockIssued1`	-	USD	Annual
Conversion of convertible notes into common stock	`StockIssued2`	$655.00K	USD	Annual
Conversion of convertible notes into common stock	`StockIssued2`	-	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$2.41M	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`	13.62M	shares	Point-in-time
Common stock issued for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$5.01M	USD	Annual
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	Annual
Common stock issued upon conversion of notes	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$655.00K	USD	Annual
Recapitalization	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Recapitalization (in shares)	`StockIssuedDuringPeriodSharesAcquisitions`	3.00M	shares	Annual
Common stock issued to founders	`CommonStockIssuedValueToFounders`	$1.00	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues1`	$35.00K	USD	Annual
Preferred shares issued for cash	`StockIssuedDuringPeriodValueNewIssues2`	$530.00K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$538.60K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$362.00	USD	Annual
Net loss	`NetIncomeLoss`	$-446.35K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.71M	USD	Annual
Balance, ending	`StockholdersEquity`	$2.41M	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`	13.62M	shares	Point-in-time

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