IOTA COMMUNICATIONS, INC. (IOTC) financial statements (2021 and earlier)

Company profile

Business Address 540 UNION SQUARE
NEW HOPE, PA 18938
State of Incorp. DE
Fiscal Year End May 31
SIC 7389 - Business Services, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

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

5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
5/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1000000
Cash and cash equivalents1000000
Receivables10100  
Inventory, net of allowances, customer advances and progress billings   00
Inventory   00  
Prepaid expense  0  0
Contract with customer, asset0
Costs in excess of billings 1    
Other current assets1     
Other undisclosed current assets 2100  
Total current assets:2231100
Noncurrent Assets
Property, plant and equipment10000   
Intangible assets, net (including goodwill)01416  
Goodwill 1313    
Intangible assets, net (excluding goodwill)013    
Other undisclosed noncurrent assets00000  
Total noncurrent assets:10141600  
TOTAL ASSETS:1316191100
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:19631311
Accounts payable14421001
Accrued liabilities1200212
Employee-related liabilities10000  
Taxes payable  00000
Interest and dividends payable 0     
Other undisclosed accounts payable and accrued liabilities2 000(0)(1)
Debt 411137
Due to related parties     00
Billings in excess of cost 0    
Contract with customer, liability0
Other undisclosed current liabilities7110001
Total current liabilities:261152449
Noncurrent Liabilities
Long-term debt and lease obligation  8  00
Long-term debt, excluding current maturities  8  00
Liabilities, other than long-term debt4      
Deferred rent credit2
Asset retirement obligations2      
Due to related parties1      
Other undisclosed noncurrent liabilities77      
Total noncurrent liabilities:82 8  00
Total liabilities:108111324410
Stockholders' equity
Stockholders' equity attributable to parent, including:(95)46(2)(3)(4)(9)
Preferred stock 0     
Common stock000  00
Treasury stock, value (0)     
Additional paid in capital25665342373025
Accumulated deficit(119)(62)(47)(43)(40)(36)(34)
Other undisclosed stockholders' equity attributable to parent   002 
Total stockholders' equity:(95)46(2)(3)(4)(9)
TOTAL LIABILITIES AND EQUITY:1316191100

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

5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
5/31/2013
Revenues212220  
Revenue, net 220  
Cost of revenue(2)(11)(2)(1)(0)  
Cost of goods and services sold    (0)  
Gross profit:(0)1110  
Operating expenses(53)(9)(4)(4)(5)(2)(0)
Operating loss:(53)(8)(3)(3)(4)(2)(0)
Nonoperating income (expense)(3)(8)(0)(0)(0)01
Debt instrument, convertible, beneficial conversion feature 01  01
Other nonoperating income (expense)(0)   0  
Interest and debt expense(0)0(0)(0)(0)(0)(0)
Income (loss) from continuing operations before equity method investments, income taxes:(57)(16)(3)(3)(5)(3)0
Other undisclosed income (loss) from continuing operations before income taxes0(0)0001(1)
Loss from continuing operations before income taxes:(57)(16)(3)(3)(4)(2)(1)
Income tax benefit 0  01 
Net loss:(57)(16)(3)(3)(4)(1)(1)
Other undisclosed net loss attributable to parent     (1) 
Net loss available to common stockholders, diluted:(57)(16)(3)(3)(4)(2)(1)

Comprehensive Income ($ in millions)

5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
5/31/2013
Net loss:(57)(16)(3)(3)(4)(1)(1)
Comprehensive loss, net of tax, attributable to parent:(57)(16)(3)(3)(4)(1)(1)

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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