10-K/A Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 FY 2017

Filing Information

Form Type	10-K/A
Accession Number	`0001615774-17-005358`
Period End Date	20170630
Filing Date	20170926
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	akts-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 30 Cash Flow Statement 58 Stockholders Equity 23

Balance Sheet 67 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, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Preferred Stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$188.48K	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$43.54K	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	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`	$158.46K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.82K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$42.81K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.25M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	15.38M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.85M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.08M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$206.99K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$206.53K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$71.23K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.71K	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`	$18.09M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$543.65K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$14.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$543.65K	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.73M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	-	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$1.32M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LongTermDebtNoncurrent`	$1.73M	USD	Point-in-time
Total long-term liabilities	`LongTermDebtNoncurrent`	$1.32M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.08M	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: 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, par value $0.001: 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 45,000,000 shares authorized; 19,075,050 and 15,375,981 shares issued and outstanding at June 30, 2017 and June 30, 2016, respectively	`CommonStockValue`	$15.38K	USD	Point-in-time
Common stock, $0.001 par value; 45,000,000 shares authorized; 19,075,050 and 15,375,981 shares issued and outstanding at June 30, 2017 and June 30, 2016, respectively	`CommonStockValue`	$19.07K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$30.77M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$9.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.78M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$15.01M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$4.19M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.54M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$18.09M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Contract research and government grants	`RevenueFromGrants`	$254.83K	USD	Annual
Contract research and government grants	`RevenueFromGrants`	$469.53K	USD	Annual
Revenue	`OtherSalesRevenueNet`	-	USD	Annual
Revenue	`OtherSalesRevenueNet`	$16.96K	USD	Annual
Total revenue	`SalesRevenueNet`	$486.50K	USD	Annual
Total revenue	`SalesRevenueNet`	$254.83K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.76M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.43M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.94M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.02M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.45M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.69M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.44M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-9.96M	USD	Annual
Other income	`OtherIncome`	$500.00	USD	Annual
Other income	`OtherIncome`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.94K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.34K	USD	Annual
Bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$1.73M	USD	Annual
Bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	-	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-877.49K	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-968.84K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$850.33K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-967.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-9.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.41M	USD	Annual
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.54	USD	Annual
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	Annual
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.35M	shares	Annual
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.99M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.41M	USD	Annual
Depreciation	`Depreciation`	$102.88K	USD	Annual
Depreciation	`Depreciation`	$34.83K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$7.21K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.34K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$3.91M	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$849.62K	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-877.49K	USD	Annual
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-968.84K	USD	Annual
Bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$1.73M	USD	Annual
Bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	-	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$43.54K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$48.88K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$103.64K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-4.99K	USD	Annual
Other current asset	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Other current asset	`IncreaseDecreaseInOtherCurrentAssets`	$42.81K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$275.12K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$572.64K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$14.50K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.31M	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.55M	USD	Annual
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$1.63M	USD	Annual
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$160.17K	USD	Annual
Cash paid for acquisition of STC-MEMS	`PaymentsToAcquireProductiveAssets`	$2.85M	USD	Annual
Cash paid for acquisition of STC-MEMS	`PaymentsToAcquireProductiveAssets`	-	USD	Annual
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$43.49K	USD	Annual
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$60.73K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.53M	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-203.67K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.33M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.38M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$10.00K	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$171.76K	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.56M	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.34M	USD	Annual
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.48M	USD	Annual
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-174.05K	USD	Annual
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.33M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Stock compensation payable	`LiabilitiesAssumed1`	$654.78K	USD	Annual
Stock compensation payable	`LiabilitiesAssumed1`	$146.02K	USD	Annual
Warrants issued for stock issuance costs	`StockIssued1`	$991.77K	USD	Annual
Warrants issued for stock issuance costs	`StockIssued1`	$165.72K	USD	Annual
Reclassification of derivative liability to additional paid in capital	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$2.20M	USD	Annual
Reclassification of derivative liability to additional paid in capital	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	Annual
Contingent liability	`LiabilitiesAssumed2`	$1.73M	USD	Annual
Contingent liability	`LiabilitiesAssumed2`	-	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$2.68M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$15.01M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$4.19M	USD	Point-in-time
Balance at beginning (in shares)	`CommonStockSharesOutstanding`	19.08M	shares	Point-in-time
Balance at beginning (in shares)	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time
Common stock issued for cash, net of issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$15.38M	USD	Annual
Common stock issued for cash, net of issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$3.33M	USD	Annual
Warrants issued to underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$165.72K	USD	Annual
Warrants issued to underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$991.77K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$4.24M	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$703.61K	USD	Annual
Common stock issued for exercise of warrants	`CommonStockWarrantsExercisedAndCommonSharesIssuedForCash`	$171.76K	USD	Annual
Common stock issued for exercise of warrants	`CommonStockWarrantsExercisedAndCommonSharesIssuedForCash`	$10.00K	USD	Annual
Vesting of restricted shares	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$434.70K	USD	Annual
Transfer of warrants from liability to equity classification	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$16.97K	USD	Annual
Transfer of warrants from liability to equity classification	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$2.20M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.41M	USD	Annual
Balance at ending	`StockholdersEquity`	$2.68M	USD	Point-in-time
Balance at ending	`StockholdersEquity`	$15.01M	USD	Point-in-time
Balance at ending	`StockholdersEquity`	$4.19M	USD	Point-in-time
Balance at ending (in shares)	`CommonStockSharesOutstanding`	19.08M	shares	Point-in-time
Balance at ending (in shares)	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time

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