10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-17-006718`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	akts-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 29 Cash Flow Statement 53 Stockholders Equity 14

Balance Sheet 64 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`	5.00M	shares	Point-in-time
Preferred Stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	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`	$4.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$304.62K	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$188.48K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$79.28K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$158.46K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$198.37K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$42.81K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.18M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$50.32K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.02M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.18M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.07M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.08M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.85M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.17M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$214.24K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$206.53K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.71K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$181.00K	USD	Point-in-time
Total Assets	`Assets`	$18.09M	USD	Point-in-time
Total Assets	`Assets`	$16.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.80M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$36.64K	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`	$3.84M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.73M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.73M	USD	Point-in-time
Total long-term liabilities	`DerivativeLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Total long-term liabilities	`DerivativeLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.08M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.57M	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; 19,184,583 and 19,075,050 shares issued and outstanding at September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$19.07K	USD	Point-in-time
Common stock, $0.001 par value; 45,000,000 shares authorized; 19,184,583 and 19,075,050 shares issued and outstanding at September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$19.18K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$31.50M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.51M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$15.01M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$11.07M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$18.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$16.64M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$300.94K	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$193.23K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$107.71K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$652.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.83M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.92M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.84M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.73M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.92M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$90.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$734.00	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	-	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$85.34K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-157.22K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-157.13K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$86.08K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.64M	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.17M	shares	1 Quarter
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.70M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.64M	USD	1 Quarter
Depreciation	`Depreciation`	$233.31K	USD	1 Quarter
Depreciation	`Depreciation`	$12.88K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.35K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.92K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$704.22K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$597.88K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-157.22K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$304.62K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-109.19K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$38.88K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$39.91K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$7.51K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$120.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$170.29K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.52M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$289.04K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$22.14K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.68M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.07M	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$20.29K	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$2.55M	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$11.63K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$13.72K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.56M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.02K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$47.66K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$47.66K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.19M	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.10M	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.44M	USD	Point-in-time
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`	$3.05M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.44M	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`	$3.05M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Stock compensation payable	`LiabilitiesAssumed1`	$74.46K	USD	1 Quarter
Stock compensation payable	`LiabilitiesAssumed1`	$60.88K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$15.01M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$11.07M	USD	Point-in-time
Balance at beginning (in shares)	`CommonStockSharesOutstanding`	19.18M	shares	Point-in-time
Balance at beginning (in shares)	`CommonStockSharesOutstanding`	19.08M	shares	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$537.00K	USD	1 Quarter
Common stock issued for exercise of warrants	`CommonStockWarrantsExercisedAndCommonSharesIssuedForCash`	$47.66K	USD	1 Quarter
Vesting of restricted shares	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$117.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.64M	USD	1 Quarter
Balance at ending	`StockholdersEquity`	$15.01M	USD	Point-in-time
Balance at ending	`StockholdersEquity`	$11.07M	USD	Point-in-time
Balance at ending (in shares)	`CommonStockSharesOutstanding`	19.18M	shares	Point-in-time
Balance at ending (in shares)	`CommonStockSharesOutstanding`	19.08M	shares	Point-in-time

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