10-Q Filing

WRAP TECHNOLOGIES, INC. CIK: 1702924 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-004844`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	wrap-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 20 Cash Flow Statement 36

Balance Sheet 54 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
Cash	`Cash`	$344.63K	USD	Point-in-time
Cash	`Cash`	$2.55M	USD	Point-in-time
Cash	`Cash`	$3.08M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$255.07K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	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`	$176.40K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$11.45K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$50.48K	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
Total current assets	`AssetsCurrent`	$2.78M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.80M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$36.67K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.80M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.88K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.51K	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`	22.80M	shares	Point-in-time
Total assets	`Assets`	$3.26M	USD	Point-in-time
Total assets	`Assets`	$2.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.81K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.16K	USD	Point-in-time
Note payable	`NotesPayable`	$31.73K	USD	Point-in-time
Note payable	`NotesPayable`	-	USD	Point-in-time
Deferred and accrued officer compensation	`DeferredCompensationLiabilityCurrent`	$96.00K	USD	Point-in-time
Deferred and accrued officer compensation	`DeferredCompensationLiabilityCurrent`	$96.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$36.93K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$60.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$183.47K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$192.48K	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 shares issued and outstanding each period, respectively	`CommonStockValue`	$2.28K	USD	Point-in-time
Common stock - 150,000,000 authorized; par value $0.0001 per share; 22,803,533 shares issued and outstanding each period, respectively	`CommonStockValue`	$2.28K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$4.14M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$4.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.64M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.82M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$339.17K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$75.79K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$125.96K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$95.98K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$435.15K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$201.75K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-435.15K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-201.75K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$447.00	USD	1 Quarter
Other	`OtherIncome`	-	USD	1 Quarter
Other	`OtherIncome`	$221.00	USD	1 Quarter
Other income (expense):	`OtherNonoperatingIncomeExpense`	$-226.00	USD	1 Quarter
Other income (expense):	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-201.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-435.38K	USD	1 Quarter
Net loss per basic common share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Net loss per basic common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Weighted average common shares used to compute net loss per basic common share	`WeightedAverageNumberOfSharesOutstandingBasic`	19.13M	shares	1 Quarter
Weighted average common shares used to compute net loss per basic common share	`WeightedAverageNumberOfSharesOutstandingBasic`	22.80M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-201.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-435.38K	USD	1 Quarter
Depreciation	`Depreciation`	$2.26K	USD	1 Quarter
Depreciation	`Depreciation`	$795.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$45.20K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$472.00	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$7.29K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$23.19K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.36K	USD	1 Quarter
Deferred and accrued officer compensation	`IncreaseDecreaseInDeferredCompensation`	-	USD	1 Quarter
Deferred and accrued officer compensation	`IncreaseDecreaseInDeferredCompensation`	$26.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-23.38K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$20.89K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-131.35K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-526.36K	USD	1 Quarter
Capital expenditures for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.10K	USD	1 Quarter
Capital expenditures for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.47K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.10K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.47K	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$225.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$225.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-532.83K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$89.56K	USD	1 Quarter
Cash, beginning of period	`Cash`	$255.07K	USD	Point-in-time
Cash, beginning of period	`Cash`	$3.08M	USD	Point-in-time
Cash, beginning of period	`Cash`	$344.63K	USD	Point-in-time
Cash, beginning of period	`Cash`	$2.55M	USD	Point-in-time
Cash, end of period	`Cash`	$3.08M	USD	Point-in-time
Cash, end of period	`Cash`	$344.63K	USD	Point-in-time
Cash, end of period	`Cash`	$2.55M	USD	Point-in-time
Cash, end of period	`Cash`	$255.07K	USD	Point-in-time
Prepaid insurance financed with note payable	`IncreaseDecreaseInPrepaidInsurance`	$39.44K	USD	1 Quarter
Prepaid insurance financed with note payable	`IncreaseDecreaseInPrepaidInsurance`	-	USD	1 Quarter

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