10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001615774-16-008261`
Period End Date	20160930
Filing Date	20161114
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	akts-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 22 Cash Flow Statement 40 Stockholders Equity 12

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`	$4.33M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Inventory	`InventoryNet`	$43.54K	USD	Point-in-time
Inventory	`InventoryNet`	$43.54K	USD	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`	$93.70K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.82K	USD	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
Total current assets	`AssetsCurrent`	$3.19M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.25M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$206.99K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	15.83M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	15.38M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$214.39K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$83.61K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	15.83M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$71.23K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$130.72K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.71K	USD	Point-in-time
Total Assets	`Assets`	$4.54M	USD	Point-in-time
Total Assets	`Assets`	$3.62M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$837.12K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$543.65K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$837.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$543.65K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$1.32M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$1.48M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.32M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.87M	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; 15,828,981 and 15,375,981 shares issued and outstanding at September 30, 2016 and June 30, 2016, respectively	`CommonStockValue`	$15.38K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized; 15,828,981 and 15,375,981 shares issued and outstanding at September 30, 2016 and June 30, 2016, respectively	`CommonStockValue`	$15.83K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$9.34M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$10.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.75M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.30M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.62M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.54M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$652.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$321.72K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$761.32K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.92M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.92M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.08M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$90.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$496.00	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-157.22K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$14.02K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$14.51K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-157.13K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.39M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.70M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Depreciation	`Depreciation`	$12.88K	USD	1 Quarter
Depreciation	`Depreciation`	$4.53K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.03K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.35K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$704.22K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$65.72K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-157.22K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$14.02K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-5.19K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$38.88K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.10K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$120.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$217.92K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$289.04K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-796.25K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.07M	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$103.96K	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$20.29K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$14.87K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$13.72K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-118.83K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-34.02K	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.10M	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-915.08K	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Stock compensation payable	`LiabilitiesAssumed1`	$37.45K	USD	1 Quarter
Stock compensation payable	`LiabilitiesAssumed1`	$74.46K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance at begening	`StockholdersEquity`	$2.68M	USD	Point-in-time
Balance at begening	`StockholdersEquity`	$1.30M	USD	Point-in-time
Balance at begening (in shares)	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time
Balance at begening (in shares)	`CommonStockSharesOutstanding`	15.83M	shares	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$629.76K	USD	1 Quarter
Vesting of restricted shares	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$70.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Balance at end	`StockholdersEquity`	$2.68M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$1.30M	USD	Point-in-time
Balance at end (in shares)	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time
Balance at end (in shares)	`CommonStockSharesOutstanding`	15.83M	shares	Point-in-time

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