10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-003750`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	akts-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 65 Cash Flow Statement 73

Balance Sheet 63 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`	$9.43M	USD	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`	$6.47M	USD	Point-in-time
Preferred Stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$518.92K	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
Inventory	`InventoryNet`	$188.48K	USD	Point-in-time
Inventory	`InventoryNet`	$69.50K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$230.01K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$158.46K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.23M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$58.90K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.08M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$42.81K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.35M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	22.23M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.02M	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`	$12.24M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$206.53K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$236.25K	USD	Point-in-time
Assets held for sale, net	`AvailableForSaleSecuritiesNoncurrent`	$117.02K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.31K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.71K	USD	Point-in-time
Total Assets	`Assets`	$18.09M	USD	Point-in-time
Total Assets	`Assets`	$19.95M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.91M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$14.50K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$127.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.04M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.73M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.17M	USD	Point-in-time
Total long-term liabilities	`DerivativeLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Total long-term liabilities	`DerivativeLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.08M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.21M	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; 22,232,200 and 19,075,050 shares issued and outstanding at March 31, 2018 and June 30, 2017, respectively	`CommonStockValue`	$19.07K	USD	Point-in-time
Common stock, $0.001 par value; 45,000,000 shares authorized; 22,232,200 and 19,075,050 shares issued and outstanding at March 31, 2018 and June 30, 2017, respectively	`CommonStockValue`	$22.23K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$48.21M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$31.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.51M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$16.74M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$15.01M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$19.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$18.09M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$284.41K	USD	1 Quarter
Revenue	`Revenues`	$468.03K	USD	3 Qtrs
Revenue	`Revenues`	$1.03M	USD	3 Qtrs
Revenue	`Revenues`	$308.96K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$831.35K	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	-	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$308.29K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$468.03K	USD	3 Qtrs
Gross (loss) profit	`GrossProfit`	$198.55K	USD	3 Qtrs
Gross (loss) profit	`GrossProfit`	$-23.88K	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$308.96K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.59M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.16M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.04M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.52M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.53M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.46M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.44M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$15.99M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$7.12M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.37M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.06M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.79M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.66M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$970.00	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$671.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.14K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$139.00	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	-	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$72.64K	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$244.82K	USD	3 Qtrs
Rental income	`RentalIncomeNonoperating`	-	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	$352.00	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$352.00	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	$-635.06K	USD	1 Quarter
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	-	USD	3 Qtrs
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	$-555.76K	USD	3 Qtrs
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-8.03K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-877.49K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$708.19K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-7.36K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$802.07K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-876.52K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-9.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.99M	USD	3 Qtrs
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.73	USD	3 Qtrs
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.46	USD	3 Qtrs
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.28M	shares	1 Quarter
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.42M	shares	3 Qtrs
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.69M	shares	1 Quarter
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.50M	shares	3 Qtrs

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.99M	USD	3 Qtrs
Depreciation	`Depreciation`	$35.54K	USD	1 Quarter
Depreciation	`Depreciation`	$783.86K	USD	3 Qtrs
Depreciation	`Depreciation`	$61.37K	USD	3 Qtrs
Depreciation	`Depreciation`	$313.44K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$5.06K	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$12.40K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$3.63M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.95M	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-8.03K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-877.49K	USD	3 Qtrs
Change in fair value of contingent liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	$-635.06K	USD	1 Quarter
Change in fair value of contingent liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	-	USD	3 Qtrs
Change in fair value of contingent liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	$-555.76K	USD	3 Qtrs
Change in fair value of contingent liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$518.92K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$5.99K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-118.97K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$71.56K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$70.90K	USD	3 Qtrs
Deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	3 Qtrs
Deposits	`IncreaseDecreaseInCustomerDeposits`	$-688.65K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$16.09K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.60K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$339.56K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$407.96K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$113.44K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$30.50K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.09M	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.03M	USD	3 Qtrs
Cash paid for property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$5.28M	USD	3 Qtrs
Cash paid for property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$542.55K	USD	3 Qtrs
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$42.12K	USD	3 Qtrs
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$51.68K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-594.24K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.32M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$9.84M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.20M	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$50.66K	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$55.00K	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$9.90M	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$13.25M	USD	3 Qtrs
Net (Decrease) Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.27M	USD	3 Qtrs
Net (Decrease) Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.16M	USD	3 Qtrs
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.43M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.47M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.43M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.47M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.16M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Interest	`InterestPaidNet`	-	USD	3 Qtrs
Interest	`InterestPaidNet`	$199.00	USD	3 Qtrs
Stock compensation payable	`LiabilitiesAssumed1`	$163.75K	USD	3 Qtrs
Stock compensation payable	`LiabilitiesAssumed1`	$485.92K	USD	3 Qtrs
Warrants issued for stock issuance costs	`StockIssued1`	$715.08K	USD	3 Qtrs
Warrants issued for stock issuance costs	`StockIssued1`	$645.76K	USD	3 Qtrs
Reclassification of derivative liability to additional paid in capital	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	3 Qtrs
Reclassification of derivative liability to additional paid in capital	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$2.20M	USD	3 Qtrs
Reclassification of fixed assets to assets held for sale, net	`ReclassificationOfFixedAssetsToAssetsHeldForSaleNet`	-	USD	3 Qtrs
Reclassification of fixed assets to assets held for sale, net	`ReclassificationOfFixedAssetsToAssetsHeldForSaleNet`	$117.02K	USD	3 Qtrs

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