Attached files
| file | filename |
|---|---|
| 8-K - BSD Medical Corp | perseon8k_061516.htm |
EXHIBIT 99.1
Perseon Medical
Balance Sheet (Unaudited)
April 2016
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ASSETS
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||||||||
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Current Assets
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||||||||
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Wells Fargo - Restriced Cash
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25,000.00 | |||||||
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Cash in bank-Payroll
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4,665.12 | |||||||
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Cash in bank-Wells Fargo
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121,220.23 | |||||||
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Money Market- Wells Fargo
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188,350.23 | |||||||
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Accounts Receivable-Trade
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551,210.44 | |||||||
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Allowance for Doubtful Accts.
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(66,480.00 | ) | ||||||
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Raw Materials
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341,160.73 | |||||||
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Raw materials at CEA
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4,524.39 | |||||||
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Work in Process
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17,819.77 | |||||||
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Subassemblies
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18,874.43 | |||||||
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Finished Goods
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471,016.01 | |||||||
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Trunk Stock
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50,000.00 | |||||||
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Inventory Reserve
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(50,000.00 | ) | ||||||
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Prepaid Insurance
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84,950.54 | |||||||
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Deposits
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107,888.91 | |||||||
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TOTAL Current Assets
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1,870,200.80 | |||||||
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Fixed Assets
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||||||||
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Equipment
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755,802.49 | |||||||
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Furniture & Equipment
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1,225.00 | |||||||
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Vehicle
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20,981.00 | |||||||
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Rental Equipment
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53,837.29 | |||||||
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Accumulated Deprn/ Equip.
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(639,470.61 | ) | ||||||
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Accum/Deprn-Furn. & Fixtures
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(1,224.97 | ) | ||||||
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Accum/Deprn-Vehicle
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(20,981.00 | ) | ||||||
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Accumulated Deprn-Building Imp.
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(5,004.92 | ) | ||||||
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Accumulated Deprn- Euipment Rental
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(4,720.90 | ) | ||||||
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TOTAL Fixed Assets
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160,443.38 | |||||||
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TOTAL ASSETS
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2,030,644.18 | |||||||
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LIABILITIES
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||||||||
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Current Liabilities
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||||||||
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Accounts Payable
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998,821.84 | |||||||
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Other Payables
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154,666.35 | |||||||
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Sales Tax Payable
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6,732.14 | |||||||
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SEP Payable
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2,963.61 | |||||||
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Cafeteria Plan
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38,661.84 | |||||||
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Accrued Compensation
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1,314,082.00 | |||||||
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Accrued Vacation Payable
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22,145.62 | |||||||
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Warranty- Ablation
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56,361.20 | |||||||
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Accrued Property Tax
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23,439.49 | |||||||
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TOTAL Current Liabilities
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2,617,874.09 | |||||||
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TOTAL LIABILITIES
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2,617,874.09 | |||||||
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CAPITAL
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||||||||
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Common Stock
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9,768.76 | |||||||
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Other Paid in Capital
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68,522,872.64 | |||||||
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Treasury Stock
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(233.52 | ) | ||||||
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Accumulated Deficit
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(68,686,937.71 | ) | ||||||
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Year-to-Date Earnings
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(432,700.08 | ) | ||||||
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TOTAL CAPITAL
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(587,229.91 | ) | ||||||
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TOTAL LIABILITIES & CAPITAL
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2,030,644.18 | |||||||
Perseon Medical
Income Statement (Unaudited)
Month- and Year-to-Date, April 2016 - 1 month back
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1 Month Ended
April 30, 2016
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4 Months Ended
April 30, 2016
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|||||||||||||||
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Revenue
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||||||||||||||||
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Other Revenue
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0.00 | 0.0 | % | 12,460.50 | 1.7 | % | ||||||||||
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Other Revenue- Ablation
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9,131.71 | 6.4 | % | 9,131.71 | 1.2 | % | ||||||||||
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Royalty Income
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0.00 | 0.0 | % | 1,615.28 | 0.2 | % | ||||||||||
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Equipment Rental-Ablation
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15,000.00 | 10.5 | % | 83,250.00 | 11.3 | % | ||||||||||
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MTX 180 Disposable
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118,120.00 | 83.0 | % | 632,480.00 | 85.6 | % | ||||||||||
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Fregiht Billed-Ablation
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100.70 | 0.1 | % | 250.70 | 0.0 | % | ||||||||||
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TOTAL Revenue
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142,352.41 | 100.0 | % | 739,188.19 | 100.0 | % | ||||||||||
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NET REVENUE
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142,352.41 | 100.0 | % | 739,188.19 | 100.0 | % | ||||||||||
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Cost of Goods Sold
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||||||||||||||||
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Other Ablation
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6,328.20 | 4.4 | % | 6,328.20 | 0.9 | % | ||||||||||
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Equipment Rental Depreciation
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1,495.48 | 1.1 | % | 5,981.92 | 0.8 | % | ||||||||||
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Materials MTX 180 Disposables
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34,350.00 | 24.1 | % | 239,978.45 | 32.5 | % | ||||||||||
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Freight In
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460.12 | 0.3 | % | 3,085.75 | 0.4 | % | ||||||||||
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Office Supplies-Production
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0.00 | 0.0 | % | 64.22 | 0.0 | % | ||||||||||
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Freight Out
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0.00 | 0.0 | % | 598.35 | 0.1 | % | ||||||||||
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Outside Services-Production
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240.00 | 0.2 | % | 870.00 | 0.1 | % | ||||||||||
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Tools & Supplies-QC
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706.80 | 0.5 | % | 706.80 | 0.1 | % | ||||||||||
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TOTAL Cost of Goods Sold
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43,580.60 | 30.6 | % | 257,613.69 | 34.9 | % | ||||||||||
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GROSS PROFIT
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98,771.81 | 69.4 | % | 481,574.50 | 65.1 | % | ||||||||||
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Expenses
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||||||||||||||||
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Salaries-Sales Domestic
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30,603.91 | 21.5 | % | 125,264.45 | 16.9 | % | ||||||||||
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Salaries-Sales Int'l
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38,660.00 | 27.2 | % | 58,230.92 | 7.9 | % | ||||||||||
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Salaries-Marketing
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0.00 | 0.0 | % | 3,944.70 | 0.5 | % | ||||||||||
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Commissions-Sales Domestic
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(965.26 | ) | -0.7 | % | 8,499.74 | 1.1 | % | |||||||||
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Commissions/Sales Agent
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0.00 | 0.0 | % | 27,435.00 | 3.7 | % | ||||||||||
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Recruiting-US Sales
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0.00 | 0.0 | % | (0.08 | ) | 0.0 | % | |||||||||
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Depreciation-Sales Domestic
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533.65 | 0.4 | % | 3,701.31 | 0.5 | % | ||||||||||
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Depreciation-Sales Int'l
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133.41 | 0.1 | % | 925.33 | 0.1 | % | ||||||||||
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Travel Expense-Sales Domestic
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6,321.49 | 4.4 | % | 12,952.35 | 1.8 | % | ||||||||||
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Meals & Ent.-Sales Domestic
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0.00 | 0.0 | % | 363.50 | 0.0 | % | ||||||||||
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Trade Shows - Marketing
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0.00 | 0.0 | % | 10,000.00 | 1.4 | % | ||||||||||
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Trade Shows & Exhibits
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0.00 | 0.0 | % | 450.00 | 0.1 | % | ||||||||||
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Outside Services Domestic Sales
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1,500.00 | 1.1 | % | 45,750.00 | 6.2 | % | ||||||||||
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Outside Services - Marketing
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0.00 | 0.0 | % | 25,467.53 | 3.4 | % | ||||||||||
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Payroll Taxes-Sales Domestic
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2,359.72 | 1.7 | % | 12,759.80 | 1.7 | % | ||||||||||
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MTD Standard Income Statement
Perseon Medical
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Page 1
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1 Month Ended
April 30, 2016
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4 Months Ended
April 30, 2016
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Payroll Taxes-Sales Int'l
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0.00 | 0.0 | % | 3,528.00 | 0.5 | % | ||||||||||
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Employee Benefits-Sales Domestic
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(296.56 | ) | -0.2 | % | (889.68 | ) | -0.1 | % | ||||||||
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Employee Benefits-Marketing
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0.00 | 0.0 | % | (296.56 | ) | 0.0 | % | |||||||||
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Telephone-Sales Domestic
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0.00 | 0.0 | % | 122.75 | 0.0 | % | ||||||||||
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Telephone-Sales Int'l
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0.00 | 0.0 | % | 475.72 | 0.1 | % | ||||||||||
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Mailing Costs-Sales Domestic
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153.12 | 0.1 | % | 2,288.57 | 0.3 | % | ||||||||||
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Mailing Costs-OUS
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43.10 | 0.0 | % | 246.01 | 0.0 | % | ||||||||||
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Warranty Costs
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0.00 | 0.0 | % | 3.12 | 0.0 | % | ||||||||||
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Miscellaneous-Sales OUS
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0.00 | 0.0 | % | 2,206.00 | 0.3 | % | ||||||||||
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Office Supplies-R&D
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0.00 | 0.0 | % | 725.00 | 0.1 | % | ||||||||||
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Travel-R&D
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0.00 | 0.0 | % | (270.08 | ) | 0.0 | % | |||||||||
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Depreciation-R&D
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1,200.70 | 0.8 | % | 8,327.96 | 1.1 | % | ||||||||||
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Outside Services-R&D
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225.00 | 0.2 | % | 9,589.30 | 1.3 | % | ||||||||||
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Legal & Accounting-R&D
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0.00 | 0.0 | % | (20,705.29 | ) | -2.8 | % | |||||||||
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R & D Materials
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(6,934.62 | ) | -4.9 | % | (2,209.09 | ) | -0.3 | % | ||||||||
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Miscellaneous-R&D
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300.00 | 0.2 | % | 600.00 | 0.1 | % | ||||||||||
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Telephone-R&D
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0.00 | 0.0 | % | 100.32 | 0.0 | % | ||||||||||
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Mailing Costs-R&D
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57.66 | 0.0 | % | 1,434.94 | 0.2 | % | ||||||||||
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Salaries-Admin
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11,750.00 | 8.3 | % | 60,018.12 | 8.1 | % | ||||||||||
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Salaries-Regulatory
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0.00 | 0.0 | % | (8,007.81 | ) | -1.1 | % | |||||||||
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Depreciation-Admin
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800.47 | 0.6 | % | 5,551.97 | 0.8 | % | ||||||||||
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Dues & Subscriptions-Sales Domestic
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0.00 | 0.0 | % | 33,055.00 | 4.5 | % | ||||||||||
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Dues & Subscriptions
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208.99 | 0.1 | % | 4,125.66 | 0.6 | % | ||||||||||
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Dues & Subscriptions-Regulatory
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0.00 | 0.0 | % | (20,000.00 | ) | -2.7 | % | |||||||||
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Payroll Taxes-Admin
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847.70 | 0.6 | % | 6,460.11 | 0.9 | % | ||||||||||
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Employee Benefits-Admin
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670.44 | 0.5 | % | 32,134.94 | 4.3 | % | ||||||||||
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Telephone-Admin
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2,172.90 | 1.5 | % | 13,075.21 | 1.8 | % | ||||||||||
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Telephone-Regulatory
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0.00 | 0.0 | % | 78.82 | 0.0 | % | ||||||||||
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Utilities-Admin
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0.00 | 0.0 | % | 51.84 | 0.0 | % | ||||||||||
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Office Supplies-Admin
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5,678.67 | 4.0 | % | 9,451.34 | 1.3 | % | ||||||||||
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Outside Services-Admin
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29,660.08 | 20.8 | % | 430,688.12 | 58.3 | % | ||||||||||
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Outside Services-Regulatory
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290.00 | 0.2 | % | 7,989.00 | 1.1 | % | ||||||||||
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Repairs & Maint.-Admin
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0.00 | 0.0 | % | 2,104.30 | 0.3 | % | ||||||||||
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Mailing Costs-Admin
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9.80 | 0.0 | % | 179.77 | 0.0 | % | ||||||||||
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Shareholders' Relations
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3,729.00 | 2.6 | % | 1,448.02 | 0.2 | % | ||||||||||
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Insurance-Admin
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34,496.87 | 24.2 | % | 141,103.10 | 19.1 | % | ||||||||||
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Legal & Accounting-Admin
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110,537.08 | 77.7 | % | 185,446.49 | 25.1 | % | ||||||||||
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Board Compensation
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0.00 | 0.0 | % | 10,000.00 | 1.4 | % | ||||||||||
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Travel Costs-Admin
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2,069.36 | 1.5 | % | 5,759.88 | 0.8 | % | ||||||||||
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Meals & Entertainment-Admin
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181.88 | 0.1 | % | 1,164.91 | 0.2 | % | ||||||||||
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Rent
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0.00 | 0.0 | % | 77,284.74 | 10.5 | % | ||||||||||
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Property Taxes-Admin
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0.00 | 0.0 | % | 1,189.19 | 0.2 | % | ||||||||||
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Taxes & Licenses
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150.00 | 0.1 | % | (95.69 | ) | 0.0 | % | |||||||||
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Miscellaneous-Admin
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0.00 | 0.0 | % | 2,457.14 | 0.3 | % | ||||||||||
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Storage Costs
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160.36 | 0.1 | % | 4,691.83 | 0.6 | % | ||||||||||
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TOTAL Expenses
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277,308.92 | 194.8 | % | 1,348,427.54 | 182.4 | % | ||||||||||
|
MTD Standard Income Statement
Perseon Medical
|
Page 2
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1 Month Ended
April 30, 2016
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4 Months Ended
April 30, 2016
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OPERATING PROFIT
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(178,537.11 | ) | -125.4 | % | (866,853.04 | ) | -117.3 | % | ||||||||
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Other Income & Expenses
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||||||||||||||||
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Interest Income
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27.09 | 0.0 | % | 166.44 | 0.0 | % | ||||||||||
|
Realized Gain/Loss
|
0.00 | 0.0 | % | (535,493.31 | ) | -72.4 | % | |||||||||
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Interest Expense
|
0.00 | 0.0 | % | (376.57 | ) | -0.1 | % | |||||||||
|
Other Income/Expense
|
38,623.34 | 27.1 | % | 969,856.40 | 131.2 | % | ||||||||||
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TOTAL Other Income & Expenses
|
38,650.43 | 27.2 | % | 434,152.96 | 58.7 | % | ||||||||||
|
PROFIT BEFORE TAXES
|
(139,886.68 | ) | -98.3 | % | (432,700.08 | ) | -58.5 | % | ||||||||
|
NET PROFIT
|
(139,886.68 | ) | -98.3 | % | (432,700.08 | ) | -58.5 | % | ||||||||
|
MTD Standard Income Statement
Perseon Medical
|
Page 3
|