IOTA COMMUNICATIONS, INC. Financial Statements (2024 and earlier)
Company Profile
| Business Address |
540 UNION SQUARE NEW HOPE, PA 18938 |
| State of Incorp. | DE |
| Fiscal Year End | May 31 |
| Industry (SIC) | 7389 - Business Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 2/29/2020 MRQ | 5/31/2019 | 5/31/2018 | 5/31/2017 | 5/31/2016 | 5/31/2015 | 5/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 789 | 114 | 470 | 56 | 235 | 119 | |||
| Cash and cash equivalents | 789 | 114 | 470 | 56 | 235 | 119 | |||
| Receivables | 507 | 16 | 1,086 | 192 | 132 | ||||
| Inventory, net of allowances, customer advances and progress billings | 120 | 157 | ✕ | ||||||
| Inventory | 120 | 157 | |||||||
| Prepaid expense | 7 | 11 | |||||||
| Contract with customer, asset, after allowance for credit loss | 436 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Other current assets | 746 | ||||||||
| Costs in excess of billings | ✕ | ✕ | 1,030 | ||||||
| Other undisclosed current assets | 1,533 | 607 | 188 | 12 | |||||
| Total current assets: | 2,478 | 1,664 | 3,201 | 557 | 536 | 130 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 10,125 | 22 | 27 | 8 | |||||
| Intangible assets, net (including goodwill) | 287 | 13,954 | 15,767 | ✕ | |||||
| Goodwill | 13,039 | 13,039 | |||||||
| Intangible assets, net (excluding goodwill) | 287 | 915 | 2,728 | ||||||
| Other undisclosed noncurrent assets | 88 | 30 | 20 | 20 | 2 | ||||
| Total noncurrent assets: | 10,500 | 14,006 | 15,815 | 28 | 2 | ||||
| TOTAL ASSETS: | 12,978 | 15,670 | 19,016 | 585 | 538 | 130 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 18,564 | 6,127 | 2,544 | 1,022 | 2,655 | 662 | |||
| Interest and dividends payable | 282 | ||||||||
| Taxes payable | 63 | 63 | 63 | 99 | |||||
| Employee-related liabilities | 1,276 | 135 | 15 | 28 | 55 | ||||
| Accounts payable | 14,136 | 3,777 | 2,147 | 783 | 464 | 396 | |||
| Accrued liabilities | 1,338 | 1,934 | 146 | 95 | 2,038 | 662 | |||
| Other undisclosed accounts payable and accrued liabilities | 1,813 | 173 | 53 | 35 | (495) | ||||
| Debt | 4,164 | 1,417 | 793 | 803 | 3,038 | ||||
| Billings in excess of cost | ✕ | ✕ | 481 | ||||||
| Due to related parties | 130 | ||||||||
| Contract with customer, liability | ✕ | 189 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed current liabilities | 7,254 | 961 | 520 | 324 | 330 | 99 | |||
| Total current liabilities: | 26,006 | 11,251 | 4,962 | 2,139 | 3,788 | 3,929 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 8,041 | 323 | |||||||
| Long-term debt, excluding current maturities | 8,041 | 323 | |||||||
| Liabilities, other than long-term debt | 4,413 | ||||||||
| Deferred rent credit | 1,976 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Asset retirement obligations | 1,771 | ||||||||
| Due to related parties | 666 | ||||||||
| Other undisclosed noncurrent liabilities | 77,317 | ||||||||
| Total noncurrent liabilities: | 81,730 | 8,041 | 323 | ||||||
| Total liabilities: | 107,736 | 11,251 | 13,003 | 2,139 | 3,788 | 4,251 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (94,758) | 4,419 | 6,013 | (1,554) | (3,250) | (4,121) | |||
| Preferred stock | 0 | ||||||||
| Common stock | 22 | 3 | 2 | 8 | |||||
| Treasury stock, value | (0) | ||||||||
| Additional paid in capital | 24,539 | 66,400 | 52,559 | 41,645 | 36,840 | 29,720 | |||
| Accumulated deficit | (119,319) | (61,983) | (46,549) | (43,201) | (40,092) | (35,684) | |||
| Other undisclosed equity, attributable to parent | 1 | 1 | 1,835 | ||||||
| Total equity: | (94,758) | 4,419 | 6,013 | (1,554) | (3,250) | (4,121) | |||
| TOTAL LIABILITIES AND EQUITY: | 12,978 | 15,670 | 19,016 | 585 | 538 | 130 | |||
Income Statement (P&L) ($ in thousands)
| 2/29/2020 TTM | 5/31/2019 | 5/31/2018 | 5/31/2017 | 5/31/2016 | 5/31/2015 | 5/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,305 | 12,062 | 2,347 | 1,871 | 484 | |||
| Revenue, net | ✕ | ✕ | 2,347 | 1,871 | 484 | |||
| Cost of revenue | (2,497) | (11,330) | (1,660) | (910) | (26) | |||
| Cost of goods and services sold | (26) | |||||||
| Gross profit: | (192) | 732 | 687 | 961 | 459 | |||
| Operating expenses | (53,265) | (8,899) | (3,592) | (4,040) | (4,585) | (2,438) | ||
| Operating loss: | (53,457) | (8,167) | (2,906) | (3,079) | (4,126) | (2,438) | ||
| Nonoperating income (expense) | (3,320) | (7,645) | (442) | (30) | (317) | 108 | ||
| Debt instrument, convertible, beneficial conversion feature | 339 | 929 | 108 | |||||
| Other nonoperating income (expense) | (27) | 125 | ||||||
| Interest and debt expense | (131) | 86 | (146) | (29) | (441) | (417) | ||
| Loss from continuing operations before equity method investments, income taxes: | (56,909) | (15,726) | (3,493) | (3,139) | (4,884) | (2,747) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 131 | (86) | 146 | 29 | 441 | 829 | ||
| Loss from continuing operations before income taxes: | (56,777) | (15,812) | (3,348) | (3,109) | (4,443) | (1,917) | ||
| Income tax benefit | 8 | 36 | 937 | |||||
| Loss from continuing operations: | (56,777) | (15,804) | (3,348) | (3,109) | (4,407) | (981) | ||
| Loss before gain (loss) on sale of properties: | (56,777) | (15,804) | (3,348) | (3,109) | (4,407) | (981) | ||
| Net loss: | (56,777) | (15,804) | (3,348) | (3,109) | (4,407) | (981) | ||
| Other undisclosed net loss attributable to parent | (937) | |||||||
| Net loss available to common stockholders, diluted: | (56,777) | (15,804) | (3,348) | (3,109) | (4,407) | (1,917) | ||
Comprehensive Income ($ in thousands)
| 2/29/2020 TTM | 5/31/2019 | 5/31/2018 | 5/31/2017 | 5/31/2016 | 5/31/2015 | 5/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (56,777) | (15,804) | (3,348) | (3,109) | (4,407) | (981) | ||
| Comprehensive loss, net of tax, attributable to parent: | (56,777) | (15,804) | (3,348) | (3,109) | (4,407) | (981) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.