10-K Filing

WRAP TECHNOLOGIES, INC. CIK: 1702924 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001654954-18-002199`
Period End Date	20171231
Filing Date	20180306
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	wrap-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 14 Cash Flow Statement 34 Stockholders Equity 13

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	$255.07K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$3.08M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$131.19K	USD	Point-in-time
Inventories, net	`InventoryNet`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$28.30K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$11.45K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$283.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.23M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.80M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	17.45M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.23K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$36.67K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.51K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	22.80M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	17.45M	shares	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.51K	USD	Point-in-time
Total assets	`Assets`	$3.26M	USD	Point-in-time
Total assets	`Assets`	$293.11K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.06K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.16K	USD	Point-in-time
Deferred and accrued officer compensation	`DeferredCompensationLiabilityCurrent`	$70.00K	USD	Point-in-time
Deferred and accrued officer compensation	`DeferredCompensationLiabilityCurrent`	$96.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$60.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$84.97K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$192.48K	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - 5,000,000 authorized; par value $0.0001 per share; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - 5,000,000 authorized; par value $0.0001 per share; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - 150,000,000 authorized; par value $0.0001 per share; 22,803,533 and 17,445,408 shares issued and outstanding, respectively	`CommonStockValue`	$1.75K	USD	Point-in-time
Common stock - 150,000,000 authorized; par value $0.0001 per share; 22,803,533 and 17,445,408 shares issued and outstanding, respectively	`CommonStockValue`	$2.28K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$4.14M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$440.75K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-234.36K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$208.14K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$293.11K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.26M	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.11K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$522.21K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$217.24K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$311.33K	USD	Annual
Total expenses	`OperatingExpenses`	$234.36K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$833.54K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-833.54K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-234.36K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-833.54K	USD	Annual
Net loss	`NetIncomeLoss`	$-234.36K	USD	3 Qtrs
Net loss per basic common share	`EarningsPerShareBasic`	$-0.03	USD	3 Qtrs
Net loss per basic common share	`EarningsPerShareBasic`	$-0.04	USD	Annual
Weighted average common shares used to compute net loss per basic common share	`WeightedAverageNumberOfSharesOutstandingBasic`	20.19M	shares	Annual
Weighted average common shares used to compute net loss per basic common share	`WeightedAverageNumberOfSharesOutstandingBasic`	7.47M	shares	3 Qtrs

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-833.54K	USD	Annual
Net loss	`NetIncomeLoss`	$-234.36K	USD	3 Qtrs
Depreciation	`Depreciation`	$6.66K	USD	Annual
Depreciation	`Depreciation`	$1.31K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$131.19K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-16.85K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$29.81K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$24.10K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.06K	USD	3 Qtrs
Deferred and accrued officer compensation	`IncreaseDecreaseInDeferredCompensation`	$26.00K	USD	Annual
Deferred and accrued officer compensation	`IncreaseDecreaseInDeferredCompensation`	$70.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.90K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$57.41K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-833.71K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-177.89K	USD	3 Qtrs
Capital expenditures for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.54K	USD	3 Qtrs
Capital expenditures for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.10K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.10K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.54K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$442.50K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$3.77M	USD	Annual
Offering costs paid in connection with sale of common stock	`OfferingCostsPaidInConnectionWithSaleOfCommonStock`	-	USD	3 Qtrs
Offering costs paid in connection with sale of common stock	`OfferingCostsPaidInConnectionWithSaleOfCommonStock`	$70.08K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$442.50K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.70M	USD	Annual
Net increase in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$255.07K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$2.83M	USD	Annual
Cash, beginning of period	`Cash`	-	USD	Point-in-time
Cash, beginning of period	`Cash`	$255.07K	USD	Point-in-time
Cash, beginning of period	`Cash`	$3.08M	USD	Point-in-time
Cash, end of period	`Cash`	-	USD	Point-in-time
Cash, end of period	`Cash`	$255.07K	USD	Point-in-time
Cash, end of period	`Cash`	$3.08M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, amount	`StockholdersEquity`	$3.07M	USD	Point-in-time
Beginning Balance, amount	`StockholdersEquity`	$208.14K	USD	Point-in-time
Sale of common stock in March 2016 at $0.00836 per share, amount	`StockIssuedDuringPeriodValueNewIssues`	$40.00K	USD	3 Qtrs
Sale of common stock in September 2016 at $0.00836 per share, amount	`StockIssuedDuringPeriodValueNewIssues1`	$40.00K	USD	3 Qtrs
Sale of common stock in October 2016 at $0.00836 per share, amount	`StockIssuedDuringPeriodValueNewIssues2`	$40.00K	USD	3 Qtrs
Sale of common stock in December 2016 at $0.10447 per share, amount	`StockIssuedDuringPeriodValueNewIssues3`	$322.50K	USD	3 Qtrs
Sale of common stock in January 2017 at $0.10447 per share, amount	`StockIssuedDuringPeriodValueNewIssues4`	$225.00K	USD	Annual
Sale of common stock in July 2017 at $0.10447 per share, amount	`StockIssuedDuringPeriodValueNewIssues5`	$50.00K	USD	Annual
Sale of common stock in public offering at $1.50 per share in fourth quarter of 2017, net of issuance costs of $70,084	`StockIssuedDuringPeriodValueNewIssues6`	$3.42M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-833.54K	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-234.36K	USD	3 Qtrs
Ending Balance, amount	`StockholdersEquity`	$3.07M	USD	Point-in-time
Ending Balance, amount	`StockholdersEquity`	$208.14K	USD	Point-in-time

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