10-Q Filing

AKOUSTIS TECHNOLOGIES, INC. CIK: 1584754 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-012025`
Period End Date	20180930
Filing Date	20181105
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	akts-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 30 Cash Flow Statement 66

Balance Sheet 68 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`	$9.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.82M	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`	$5.44M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$318.99K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$214.66K	USD	Point-in-time
Preferred Stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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
Inventory	`InventoryNet`	$48.21K	USD	Point-in-time
Inventory	`InventoryNet`	$57.56K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$305.94K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$330.88K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.20M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$861.49K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.37M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$484.17K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	22.37M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.88M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	22.20M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.29M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$264.30K	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$314.77K	USD	Point-in-time
Assets held for sale, net	`AvailableForSaleSecuritiesNoncurrent`	$333.25K	USD	Point-in-time
Assets held for sale, net	`AvailableForSaleSecuritiesNoncurrent`	$302.61K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$73.66K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.15K	USD	Point-in-time
Total Assets	`Assets`	$29.31M	USD	Point-in-time
Total Assets	`Assets`	$24.62M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.59M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.11M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$52.94K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$95.98K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.65M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.23M	USD	Point-in-time
Contingent real estate liability	`ContingentRealEstateLiability`	$1.28M	USD	Point-in-time
Convertible notes payable, net	`ConvertibleLongTermNotesPayable`	$11.87M	USD	Point-in-time
Convertible notes payable, net	`ConvertibleLongTermNotesPayable`	$11.46M	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$117.09K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$123.34K	USD	Point-in-time
Total long-term liabilities	`DerivativeLiabilitiesNoncurrent`	$13.27M	USD	Point-in-time
Total long-term liabilities	`DerivativeLiabilitiesNoncurrent`	$12.81M	USD	Point-in-time
Total Liabilities	`Liabilities`	$15.46M	USD	Point-in-time
Total Liabilities	`Liabilities`	$15.48M	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; 22,374,422 and 22,203,437 shares issued and outstanding at September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$22.37K	USD	Point-in-time
Common stock, $0.001 par value; 45,000,000 shares authorized; 22,374,422 and 22,203,437 shares issued and outstanding at September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$22.20K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$52.07M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$54.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.53M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$9.14M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.85M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$29.31M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$24.62M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$313.02K	USD	1 Quarter
Revenue	`Revenues`	$300.94K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$193.23K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$143.84K	USD	1 Quarter
Gross profit	`GrossProfit`	$107.71K	USD	1 Quarter
Gross profit	`GrossProfit`	$169.18K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.41M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.83M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.46M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.87M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.73M	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$68.67K	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$85.34K	USD	1 Quarter
Interest (expense) income	`InvestmentIncomeInterest`	$734.00	USD	1 Quarter
Interest (expense) income	`InvestmentIncomeInterest`	$-481.60K	USD	1 Quarter
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	-	USD	1 Quarter
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	$-46.92K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-151.30K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$86.08K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$-611.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.64M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.31M	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`	$-0.33	USD	1 Quarter
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.24M	shares	1 Quarter
Weighted average common shares outstanding -basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.17M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.64M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.31M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$237.22K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$573.18K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$597.88K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-151.30K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-250.89K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-4.64M	USD	Annual
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	-	USD	1 Quarter
Change in fair value of contingent real estate liability	`LossContingentConsiderationClassifiedAsEquityFairValueDisclosure`	$-46.92K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$304.62K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$104.33K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-109.19K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-9.35K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$24.94K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$39.91K	USD	1 Quarter
Other current asset	`IncreaseDecreaseInOtherCurrentAssets`	$339.76K	USD	1 Quarter
Other current asset	`IncreaseDecreaseInOtherCurrentAssets`	$7.51K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$62.50K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$170.29K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-70.76K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.52M	USD	1 Quarter
Change in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Change in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$6.25K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$25.91K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$22.14K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.75M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.68M	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$2.55M	USD	1 Quarter
Cash paid for machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$1.05M	USD	1 Quarter
Cash received from sale of assets held for sale	`ProceedsFromSaleOfPropertyHeldForSale`	-	USD	1 Quarter
Cash received from sale of assets held for sale	`ProceedsFromSaleOfPropertyHeldForSale`	$30.64K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$11.63K	USD	1 Quarter
Cash paid for intangibles	`PaymentsToAcquireIntangibleAssets`	$45.47K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.06M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.56M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$70.52K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$47.66K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$47.66K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$70.52K	USD	1 Quarter
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.74M	USD	1 Quarter
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.19M	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.07M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$14.82M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.44M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.07M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$14.82M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.44M	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
Accrued interest paid in common shares	`AccruedInterestPaidInCommonShares`	-	USD	1 Quarter
Accrued interest paid in common shares	`AccruedInterestPaidInCommonShares`	$289.79K	USD	1 Quarter
Stock compensation payable	`StockCompensationPayable`	$60.88K	USD	1 Quarter
Stock compensation payable	`StockCompensationPayable`	$199.75K	USD	1 Quarter
Stock issuance costs in accounts payable and accrued expenses	`StockIssuanceCostsInAccountsPayableAndAccruedExpenses`	$80.94K	USD	1 Quarter
Stock issuance costs in accounts payable and accrued expenses	`StockIssuanceCostsInAccountsPayableAndAccruedExpenses`	-	USD	1 Quarter
ASC 606 transition adjustment	`Asc606TransitionAdjustment`	-	USD	1 Quarter
ASC 606 transition adjustment	`Asc606TransitionAdjustment`	$20.42K	USD	1 Quarter
Derivative liability of convertible notes	`NotesIssued1`	-	USD	1 Quarter
Derivative liability of convertible notes	`NotesIssued1`	$1.26M	USD	1 Quarter

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