IOTA COMMUNICATIONS, INC. (IOTC) financial statements (2020 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)

11/30/2019
TTM
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 investments0100000
Cash and cash equivalents0100000
Receivables110100 
Inventory, net of allowances, customer advances and progress billings0   00
Inventory0   00 
Prepaid expense   0  0
Contract with customer, asset00
Costs in excess of billings 1   
Other current assets11     
Other undisclosed current assets(0) 2100 
Total current assets:2223110
Noncurrent Assets
Operating lease, right-of-use asset18
Property, plant and equipment1210000  
Intangible assets, net (including goodwill)401416  
Goodwill  1313   
Intangible assets, net (excluding goodwill)4013   
Other undisclosed noncurrent assets000000 
Total noncurrent assets:3410141600 
TOTAL ASSETS:36131619110
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:71963131
Accounts payable51442100
Accrued liabilities1120021
Employee-related liabilities 10000 
Taxes payable   0000
Interest and dividends payable  0    
Other undisclosed accounts payable and accrued liabilities 2 000(0)
Deferred revenue0
Debt8 41113
Due to related parties1     0
Business combination, contingent consideration, liability3     
Billings in excess of cost 0   
Contract with customer, liability0
Other undisclosed current liabilities0711000
Total current liabilities:1926115244
Noncurrent Liabilities
Long-term debt and lease obligation35  8  0
Long-term debt, excluding current maturities   8  0
Finance lease, liability18
Operating lease, liability18
Liabilities, other than long-term debt34     
Deferred rent credit 2
Asset retirement obligations22     
Due to related parties11     
Other undisclosed noncurrent liabilities5877     
Total noncurrent liabilities:9682 8  0
Total liabilities:1151081113244
Stockholders' equity
Stockholders' equity attributable to parent, including:(82)(95)46(2)(3)(4)
Preferred stock  0    
Common stock0000  0
Treasury stock, value  (0)    
Additional paid in capital37256653423730
Accumulated deficit(120)(119)(62)(47)(43)(40)(36)
Other undisclosed stockholders' equity attributable to parent    002
Stockholders' equity attributable to noncontrolling interest3      
Total stockholders' equity:(79)(95)46(2)(3)(4)
TOTAL LIABILITIES AND EQUITY:36131619110

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

11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
Revenues3212220 
Revenue, net 220 
Cost of revenue(3)(2)(11)(2)(1)(0) 
Cost of goods and services sold     (0) 
Gross profit:(0)(0)1110 
Operating expenses(26)(53)(9)(4)(4)(5)(2)
Operating loss:(26)(53)(8)(3)(3)(4)(2)
Nonoperating income (expense)(6)(3)(8)(0)(0)(0)0
Debt instrument, convertible, beneficial conversion feature2 01  0
Other nonoperating income (expense)0(0)   0 
Interest and debt expense(0)(0)0(0)(0)(0)(0)
Loss from continuing operations before equity method investments, income taxes:(32)(57)(16)(3)(3)(5)(3)
Other undisclosed income (loss) from continuing operations before income taxes00(0)0001
Loss from continuing operations before income taxes:(32)(57)(16)(3)(3)(4)(2)
Income tax benefit  0  01
Loss before gain (loss) on sale of properties:(32)(57)(16)(3)(3)(4)(1)
Other undisclosed net income0      
Net loss:(32)(57)(16)(3)(3)(4)(1)
Net income attributable to noncontrolling interest0      
Other undisclosed net loss attributable to parent(0)     (1)
Net loss available to common stockholders, diluted:(32)(57)(16)(3)(3)(4)(2)

Comprehensive Income ($ in millions)

11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
Net loss:(32)(57)(16)(3)(3)(4)(1)
Comprehensive loss:(32)(57)(16)(3)(3)(4)(1)
Comprehensive income, net of tax, attributable to noncontrolling interest0      
Comprehensive loss, net of tax, attributable to parent:(32)(57)(16)(3)(3)(4)(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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