We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Winland Holdings Corporation (PK) | USOTC:WELX | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0464 | -0.91% | 5.0536 | 4.41 | 5.08 | 5.10 | 5.05 | 5.065 | 1,801 | 20:40:46 |
þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the Quarter Ended:
|
September 30, 2013
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the transition period from _____________________ to ____________________._________________
|
Minnesota
|
|
41-0992135
|
(State or other jurisdiction of incorporation or organization)
|
|
(IRS Employer Identification Number)
|
Title of Each Class
|
|
Name of Exchange
|
Common Stock, $.01 par value
|
|
OTCQB Markets
|
Preferred Stock Purchase Rights
|
|
OTCQB Markets
|
Large accelerated filer
o
|
Accelerated filer
o
|
Non-accelerated filer
o
|
Smaller Reporting Company
þ
|
Page | |
PART I – FINANCIAL INFORMATION
|
|
ITEM 1.
FINANCIAL STATEMENTS
|
3
|
3
|
|
4
|
|
5
|
|
6
|
|
10
|
|
13
|
|
ITEM 4.
CONTROLS AND PROCEDURES
|
13
|
PART II – OTHER INFORMATION
|
|
ITEM 1.
LEGAL PROCEEDINGS
|
14
|
ITEM 1A.
RISK FACTORS
|
14
|
14
|
|
ITEM 3.
DEFAULTS UPON SENIOR SECURITIES
|
14
|
ITEM 4.
MINE SAFETY DISCLOSURES
|
14
|
ITEM 5.
OTHER INFORMATION
|
14
|
ITEM 6.
EXHIBITS
|
14
|
15
|
|
16
|
|
September 30, 2013
|
December 31, 2012
|
||||||
ASSETS
|
(Unaudited)
|
|
||||||
Current Assets
|
|
|
||||||
Cash and cash equivalents
|
$
|
1,333
|
$
|
390
|
||||
Funds held in escrow from sale of manuafacturing facility, including land (Note 8)
|
-
|
2,641
|
||||||
Accounts receivable, less allowance for doubtful accounts of $7 as of September 30, 2013 and December 31, 2012 (Note 2)
|
474
|
516
|
||||||
Inventories (Note 4)
|
653
|
884
|
||||||
Prepaid expenses and other assets
|
207
|
56
|
||||||
Total current assets
|
2,667
|
4,487
|
||||||
|
||||||||
Property and Equipment, at cost
|
||||||||
Property and equipment
|
372
|
321
|
||||||
Less accumulated depreciation and amortization
|
269
|
278
|
||||||
Net property and equipment
|
103
|
43
|
||||||
Total assets
|
$
|
2,770
|
$
|
4,530
|
||||
|
||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current Liabilities
|
||||||||
Accounts payable
|
$
|
455
|
$
|
503
|
||||
Accrued liabilities:
|
||||||||
Compensation
|
133
|
60
|
||||||
Other
|
34
|
30
|
||||||
Total current liabilities
|
622
|
593
|
||||||
|
||||||||
Stockholders’ Equity (Note 6)
|
||||||||
Common stock, par value $0.01 per share; authorized 20,000,000 shares; issued and outstanding 3,789,522 as of September 30, 2013 and 3,701,630 as of December 31, 2012
|
38
|
37
|
||||||
Additional paid-in capital
|
5,174
|
5,055
|
||||||
Accumulated deficit
|
(3,064
|
)
|
(1,155
|
)
|
||||
Total stockholders’ equity
|
2,148
|
3,937
|
||||||
Total liabilities and stockholders’ equity
|
$
|
2,770
|
$
|
4,530
|
|
For the Three Months Ended September 30,
|
For the Nine Months Ended September 30,
|
||||||||||||||
|
2013
|
2012
|
2013
|
2012
|
||||||||||||
Net sales (Note 2)
|
$
|
977
|
$
|
1,141
|
$
|
2,719
|
$
|
2,767
|
||||||||
Cost of sales
|
694
|
811
|
1,885
|
1,969
|
||||||||||||
Gross profit
|
283
|
330
|
834
|
798
|
||||||||||||
|
||||||||||||||||
Operating expenses:
|
||||||||||||||||
General and administrative
|
377
|
277
|
1,106
|
561
|
||||||||||||
Sales and marketing
|
361
|
184
|
871
|
537
|
||||||||||||
Research and development
|
214
|
60
|
771
|
194
|
||||||||||||
Total operating expenses
|
952
|
521
|
2,748
|
1,292
|
||||||||||||
|
||||||||||||||||
Operating loss
|
(669
|
)
|
(191
|
)
|
(1,914
|
)
|
(494
|
)
|
||||||||
|
||||||||||||||||
Other income
|
-
|
12
|
5
|
16
|
||||||||||||
|
||||||||||||||||
Loss from continuing operations
|
(669
|
)
|
(179
|
)
|
(1,909
|
)
|
(478
|
)
|
||||||||
Income from discontinued operations, net of tax
|
-
|
65
|
-
|
196
|
||||||||||||
|
||||||||||||||||
Net loss
|
$
|
(669
|
)
|
$
|
(114
|
)
|
$
|
(1,909
|
)
|
$
|
(282
|
)
|
||||
|
||||||||||||||||
Loss per common share data:
|
||||||||||||||||
Basic and diluted
|
$
|
(0.18
|
)
|
$
|
(0.03
|
)
|
$
|
(0.51
|
)
|
$
|
(0.08
|
)
|
||||
Loss from continuing operations per common share data:
|
||||||||||||||||
Basic and diluted
|
$
|
(0.18
|
)
|
$
|
(0.05
|
)
|
$
|
(0.51
|
)
|
$
|
(0.13
|
)
|
||||
Income from discontinued operations per common share data:
|
||||||||||||||||
Basic and diluted
|
$
|
-
|
$
|
0.02
|
$
|
-
|
$
|
0.05
|
||||||||
Weighted-average number of common shares outstanding:
|
||||||||||||||||
Basic and diluted
|
3,789,522
|
3,701,630
|
3,741,442
|
3,701,630
|
|
For the Nine Months Ended September 30,
|
|||||||
|
2013
|
2012
|
||||||
Cash Flows From Operating Activities
|
|
|
||||||
Net loss
|
$
|
(1,909
|
)
|
$
|
(282
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Depreciation and amortization
|
19
|
26
|
||||||
Non-cash stock based compensation
|
120
|
36
|
||||||
Increase in allowance for obsolete inventory
|
6
|
-
|
||||||
Changes in assets and liabilities:
|
||||||||
Accounts receivable
|
42
|
(229
|
)
|
|||||
Inventories
|
225
|
(65
|
)
|
|||||
Deferred rent receivable
|
-
|
32
|
||||||
Prepaid expenses
|
(151
|
)
|
(47
|
)
|
||||
Accounts payable
|
(48
|
)
|
(72
|
)
|
||||
Accrued liabilities
|
77
|
(71
|
)
|
|||||
Net cash used in operating activities
|
(1,619
|
)
|
(672
|
)
|
||||
|
||||||||
Cash Flows From Investing Activities
|
||||||||
Purchases of property and equipment
|
(79
|
)
|
(5
|
)
|
||||
Receipt of funds held in escrow
|
2,641
|
-
|
||||||
Net cash provided by (used in) investing activities
|
2,562
|
(5
|
)
|
|||||
|
||||||||
Net increase (decrease) in cash and cash equivalents
|
943
|
(677
|
)
|
|||||
|
||||||||
Cash and cash equivalents
|
||||||||
Beginning
|
390
|
1,031
|
||||||
Ending
|
$
|
1,333
|
$
|
354
|
|
For the Three Months Ended September 30,
|
|||||||
Sales percentage:
|
2013
|
2012
|
||||||
Customer A
|
50
|
%
|
61
|
%
|
||||
Customer B
|
12
|
%
|
*
|
|||||
|
||||||||
|
For the Nine Months Ended September 30,
|
|||||||
Sales percentage:
|
2013
|
2012
|
||||||
Customer A
|
49
|
%
|
52
|
%
|
||||
Customer B
|
13
|
%
|
*
|
|
September 30,
|
|||||||
Accounts receivable percentage:
|
2013
|
2012
|
||||||
Customer A
|
54
|
%
|
70
|
%
|
||||
Customer B
|
15
|
%
|
*
|
|
September 30, 2013
|
December 31, 2012
|
||||||
Raw materials
|
$
|
95
|
$
|
114
|
||||
Finished goods
|
558
|
770
|
||||||
Total, net
|
$
|
653
|
$
|
884
|
Options Outstanding
|
Options Exercisable
|
|||||||||||||||||||||||||
Range of Exercise Prices
|
Number of Shares
|
Weighted-Average Remaining Contractual Life (Years)
|
Weighted-Average Exercise Price
|
Number of Shares
|
Weighted-Average Remaining Contractual Life (Years)
|
Weighted-Average Exercise Price
|
||||||||||||||||||||
$
|
0.448 - $0.896
|
663,000
|
8.6
|
$
|
0.70
|
193,000
|
6.7
|
$
|
0.63
|
|||||||||||||||||
$
|
0.896 - $1.792
|
16,500
|
4.6
|
1.74
|
16,500
|
4.6
|
1.74
|
|||||||||||||||||||
$
|
1.792 - $2.240
|
5,500
|
4.3
|
2.23
|
5,500
|
4.3
|
2.23
|
|||||||||||||||||||
$
|
2.240 - $3.584
|
5,500
|
3.7
|
3.25
|
5,500
|
3.7
|
3.25
|
|||||||||||||||||||
690,500
|
8.4
|
$
|
0.76
|
220,500
|
6.4
|
$
|
0.81
|
· | The EnviroAlert (EA) product line represents approximately 48% of our revenue. The EA product line offers industrial, commercial and residential users the flexibility to simultaneously monitor temperature, humidity, water, gases, pressure and dry contacts in one or more critical environments. This product line includes our recently introduced EA800-ip solution, an industry-leading monitoring system that via software provides two-way access for users to remotely monitor, collect and view real-time data from up to eight sensors. Users can also modify their sensor settings via a wireless connection that eliminates the need for on-site adjustments or service calls. |
· | The WaterBug Alert, which is designed for dependable water detection. |
· | The TempAlert solution delivers reliable and economical temperature detection for residential or commercial security systems. |
· | The HumidAlert solution monitors humidity and is ideal for any areas where too much moisture, or not enough, can damage commercial and residential property. |
· | The Vehicle-Alert allows users to know when a vehicle enters a driveway or comes to a business drive up window. The Vehicle-Alert product line was discontinued during the third quarter of 2013. |
|
WINLAND ELECTRONICS, INC.
|
|
|
(“Company”)
|
|
|
|
|
Dated: November 8, 2013
|
/s/ David A. Gagne
|
|
|
David A. Gagne
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer )
|
|
For the fiscal quarter ended September 30, 2013
|
Commission File No. 1-15637
|
Exhibit No.
|
Description
|
|
|
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
|
|
|
|
Certification of Chief Financial Officer and Senior Vice President Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
|
|
|
|
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *
|
|
|
|
Certification of Chief Financial Officer and Senior Vice President Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *
|
|
|
|
101.INS
|
XBRL Instance Document *
|
|
|
101.SCH
|
XBRL Taxonomy Extension Schema Document *
|
|
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document *
|
|
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document *
|
|
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document *
|
|
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document *
|
1 Year Winland (PK) Chart |
1 Month Winland (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions