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)Annual | Quarterly
| 2/29/2020 Q3 | 11/30/2019 Q2 | 8/31/2019 Q1 | 5/31/2019 Q4 | 2/28/2019 Q3 | 11/30/2018 Q2 | 8/31/2018 Q1 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 204 | 282 | 789 | 1,311 | 689 | 72 | |||
| Cash and cash equivalents | 204 | 282 | 789 | 1,311 | 689 | 72 | |||
| Receivables | 356 | 381 | 507 | 582 | 548 | 184 | |||
| Inventory, net of allowances, customer advances and progress billings | 25 | ||||||||
| Inventory | 25 | ||||||||
| Contract with customer, asset, after allowance for credit loss | 171 | 521 | 436 | 1,248 | 228 | 474 | |||
| Other current assets | 343 | 616 | 746 | 2,020 | 1,416 | ||||
| Other undisclosed current assets | (25) | 355 | |||||||
| Total current assets: | 1,073 | 1,800 | 2,478 | 5,162 | 2,882 | 1,085 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 11,495 | 16,719 | ✕ | ✕ | |||||
| Property, plant and equipment | 7,273 | 9,714 | 10,125 | 10,438 | 10,715 | 20 | |||
| Intangible assets, net (including goodwill) | 6,884 | 278 | 287 | 6,037 | 6,083 | 13,895 | |||
| Goodwill | 5,250 | 5,250 | 13,039 | ||||||
| Intangible assets, net (excluding goodwill) | 6,884 | 278 | 287 | 787 | 833 | 855 | |||
| Other undisclosed noncurrent assets | 28 | 78 | 88 | 194 | 194 | 30 | |||
| Total noncurrent assets: | 25,680 | 26,789 | 10,500 | 16,669 | 16,992 | 13,945 | |||
| TOTAL ASSETS: | 26,754 | 28,589 | 12,978 | 21,831 | 19,873 | 15,031 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 7,397 | 20,543 | 18,564 | 14,474 | 13,418 | 674 | |||
| Interest and dividends payable | 274 | ||||||||
| Employee-related liabilities | 1,005 | 1,276 | 149 | ||||||
| Accounts payable | 5,137 | 14,919 | 14,136 | 10,283 | 12,386 | ||||
| Accrued liabilities | 2,260 | 1,668 | 1,338 | 4,190 | 1,031 | ||||
| Other undisclosed accounts payable and accrued liabilities | 2,951 | 1,813 | 0 | 250 | |||||
| Deferred revenue | 462 | 125 | 229 | 90 | ✕ | ✕ | |||
| Debt | 7,946 | 7,965 | 4,181 | 3,285 | 1,386 | ||||
| Business combination, contingent consideration, liability | 3,000 | ||||||||
| Due to related parties | 354 | 828 | |||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 94 | 59 | ||
| Other undisclosed current liabilities | 1,936 | 2,074 | 7,213 | 2,980 | 2,216 | 3,436 | |||
| Total current liabilities: | 21,096 | 30,707 | 26,006 | 21,725 | 19,012 | 6,383 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 18,775 | 31,913 | 827 | 977 | |||||
| Long-term debt, excluding current maturities | 827 | 977 | |||||||
| Finance lease, liability | 15,957 | ✕ | ✕ | ||||||
| Liabilities, other than long-term debt | 2,208 | 2,437 | 4,413 | 4,400 | 4,380 | ||||
| Deferred rent credit | 1,976 | 1,898 | 1,806 | ||||||
| Asset retirement obligations | 1,542 | 1,764 | 1,771 | 1,847 | 1,730 | ||||
| Due to related parties | 666 | 673 | 666 | 654 | 844 | ||||
| Operating lease, liability | 18,775 | 15,957 | ✕ | ✕ | |||||
| Other undisclosed noncurrent liabilities | 73,611 | 63,781 | 77,317 | 76,151 | 74,205 | ||||
| Total noncurrent liabilities: | 94,594 | 98,131 | 81,730 | 81,378 | 79,563 | ||||
| Total liabilities: | 115,690 | 128,838 | 107,736 | 103,103 | 98,575 | 6,383 | |||
| Equity | |||||||||
| Equity, attributable to parent | (91,978) | (100,249) | (94,758) | (81,272) | (78,702) | 8,647 | |||
| Common stock | 27 | 22 | 22 | 21 | 20 | 4 | |||
| Additional paid in capital | 46,376 | 27,074 | 24,539 | 20,575 | 9,543 | 76,244 | |||
| Accumulated deficit | (138,381) | (127,345) | (119,319) | (101,868) | (88,264) | (67,601) | |||
| Equity, attributable to noncontrolling interest | 3,041 | ||||||||
| Total equity: | (88,937) | (100,249) | (94,758) | (81,272) | (78,702) | 8,647 | |||
| TOTAL LIABILITIES AND EQUITY: | 26,754 | 28,589 | 12,978 | 21,831 | 19,873 | 15,031 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 2/29/2020 Q3 | 11/30/2019 Q2 | 8/31/2019 Q1 | 5/31/2019 Q4 | 2/28/2019 Q3 | 11/30/2018 Q2 | 8/31/2018 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 34 | 872 | (380) | 1,892 | 743 | 845 | ||
| Cost of revenue | (64) | (824) | (737) | (1,028) | (699) | (1,035) | ||
| Gross profit: | (30) | 48 | (1,118) | 864 | 45 | (190) | ||
| Operating expenses | (10,581) | (6,817) | (14,679) | (13,012) | (17,019) | (1,763) | ||
| Operating loss: | (10,611) | (6,769) | (15,797) | (12,148) | (16,974) | (1,953) | ||
| Nonoperating expense | (1,257) | (1,654) | (1,456) | (205) | (3,104) | |||
| Other nonoperating income (expense) | 103 | 3 | 3 | (33) | ||||
| Interest and debt expense | (286) | 2 | 1,543 | (1,459) | (172) | 21 | ||
| Loss from continuing operations before equity method investments, income taxes: | (10,896) | (8,024) | (15,907) | (15,062) | (17,352) | (5,035) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (1,701) | (2) | (1,543) | 1,459 | 172 | (21) | ||
| Loss from continuing operations: | (12,597) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
| Loss before gain (loss) on sale of properties: | (12,597) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
| Other undisclosed net income | 489 | |||||||
| Net loss: | (12,108) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
| Net income attributable to noncontrolling interest | 489 | |||||||
| Other undisclosed net loss attributable to parent | (978) | |||||||
| Net loss available to common stockholders, basic: | (12,597) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
| Interest on convertible debt | 15 | |||||||
| Net loss available to common stockholders, diluted: | (12,597) | (8,026) | (17,451) | (13,604) | (17,165) | (5,057) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 2/29/2020 Q3 | 11/30/2019 Q2 | 8/31/2019 Q1 | 5/31/2019 Q4 | 2/28/2019 Q3 | 11/30/2018 Q2 | 8/31/2018 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (12,108) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
| Comprehensive loss: | (12,108) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 489 | |||||||
| Comprehensive loss, net of tax, attributable to parent: | (11,620) | (8,026) | (17,451) | (13,604) | (17,180) | (5,057) | ||
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.