Spectrum Global Solutions, Inc. financial statements (2021 and earlier)

Company profile

Business Address 980 N. FEDERAL HIGHWAY, SUITE 304
BOCA RATON, FL 33432
State of Incorp. NV
Fiscal Year End December 31
SIC 4813 - Telephone Communications, Except Radiotelephone (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 46962134517932
Cash and cash equivalents 46962134517932
Receivables 5,1676,5621,623 26164
Prepaid expense 200231325126505
Capitalized contract cost 4621,862
Deferred costs     7 
Other undisclosed current assets    7  
Total current assets: 6,2989,0672,100131661,600
Noncurrent Assets
Operating lease, right-of-use asset 168
Property, plant and equipment 936196739094
Intangible assets, net (including goodwill) 5,5843,7722,072635530
Goodwill 1,9061,8351,504   
Intangible assets, net (excluding goodwill) 3,6781,937569635530
Deposits noncurrent assets     8 
Restricted cash and investments    152127
Other noncurrent assets 263028   
Other undisclosed noncurrent assets   8928  
Total noncurrent assets: 5,8713,8633,088158174151
TOTAL ASSETS: 12,16912,9305,1891713401,751
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 4,0285,4722,113 614715
Other undisclosed accounts payable and accrued liabilities 4,0285,4722,113 614715
Debt 6,7828,4792,375620445377
Derivative instruments and hedges, liabilities 9933,1673,760 354 
Due to related parties 3,578314308 112160
Business combination, contingent consideration, liability 705 1,409  
Other undisclosed current liabilities 2100 1,950  
Total current liabilities: 16,08817,5329,9662,5711,5251,252
Noncurrent Liabilities
Long-term debt and lease obligation 28  3 36
Long-term debt, excluding current maturities 28    17
Capital lease obligations  3 20
Other undisclosed noncurrent liabilities  1,089    
Total noncurrent liabilities: 281,089 3 36
Total liabilities: 16,11618,6229,9662,5741,5251,289
Temporary equity, carrying amount 1,492     
Stockholders' equity
Stockholders' equity attributable to parent, including: (5,440)(5,691)(4,717)(2,257)(992)581
Common stock 003111
Treasury stock, value (277)(277)    
Common stock, value, subscriptions 75757510075216
Additional paid in capital 25,25518,68115,72411,16410,4629,680
Accumulated deficit (30,492)(24,170)(20,519)(13,431)  
Other undisclosed stockholders' equity attributable to parent    (90)(11,530)(9,316)
Stockholders' equity attributable to noncontrolling interest   (60)(236)(193)(118)
Other undisclosed stockholders' equity    90  
Total stockholders' equity: (5,440)(5,691)(4,777)(2,403)(1,185)463
TOTAL LIABILITIES AND EQUITY: 12,16912,9305,1891713401,751

Income statement (P&L) ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
Revenues 34,01134,5491,07070199275
Financial services revenue(1,965)   
Cost of revenue (29,190)(29,101)(821) (46)(40)
Cost of goods and services sold   (821) (46)(40)
Other undisclosed gross profit     4640
Gross profit: 4,8205,44824970199275
Operating expenses (38,365)(37,089)(5,011)(923)(2,110)(1,568)
Other undisclosed operating income 29,19029,101    
Operating loss: (4,355)(2,540)(4,762)(853)(1,911)(1,294)
Nonoperating income (expense) (1,275)1,442(2,109)(1,092)(379)(59)
Investment income, nonoperating  577(103)   
Foreign currency transaction gain (loss), before tax (10)5 (5)4689
Debt instrument, convertible, beneficial conversion feature 314    192
Interest and debt expense 267884(34)203(39)(33)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (267)(1,386)92   
Loss from continuing operations before equity method investments, income taxes: (5,630)(1,600)(6,813)(1,742)(2,329)(1,385)
Other undisclosed income from continuing operations before income taxes  5022,051   
Loss from continuing operations before income taxes: (5,630)(1,098)(4,762)(1,742)(2,329)(1,385)
Income tax expense (204)(248)    
Loss before gain (loss) on sale of properties: (5,834)(1,346)(4,762)(1,742)(2,329)(1,385)
Other undisclosed net income (loss)   (2,109)(159)3933
Net loss: (5,834)(1,346)(6,871)(1,901)(2,290)(1,353)
Net income (loss) attributable to noncontrolling interest  5358(44)7462
Net loss attributable to parent: (5,834)(1,292)(6,813)(1,945)(2,216)(1,291)
Preferred stock dividends and other adjustments (488)(191)    
Other undisclosed net loss available to common stockholders, basic  (364)    
Net loss available to common stockholders, diluted: (6,322)(1,847)(6,813)(1,945)(2,216)(1,291)

Comprehensive Income ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
Net loss: (5,834)(1,346)(6,871)(1,901)(2,290)(1,353)
Comprehensive loss: (5,834)(1,346)(6,871)(1,901)(2,290)(1,353)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest  5358(44)7462
Comprehensive loss, net of tax, attributable to parent: (5,834)(1,292)(6,813)(1,945)(2,216)(1,291)

Statements sources

The financial statements are based on the company's filings with the 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.

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