COMARCO INC

CIK:0000022252|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Income Statement [Abstract]
Royalty income			$ 6
Cost of revenue				(472)
Gross profit			6	472
Selling, general and administrative expenses	199	301	623	1,025
Operating expenses	199	301	623	1,025
Operating loss	(199)	(301)	(617)	(553)
Other income, net		1		1,705
(Loss) income from operations before income taxes	(199)	(300)	(617)	1,152
Income tax expense
Net (loss) income	$ (199)	$ (300)	$ (617)	$ 1,152
(Loss) income per share basic and diluted	$ (0.01)	$ (0.02)	$ (0.04)	$ 0.08
Weighted-average shares outstanding basic and diluted:	14,615,000	14,644,000	14,615,000	14,644,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (617)	$ 1,152
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization		2
Stock-based compensation expense	19	18
Changes in operating assets and liabilities
Accounts receivable due from suppliers		122
Other current assets	(4)	12
Accounts payable	(3)	(756)
Accrued liabilities	(119)	(369)
Income taxes payable	(5)
Net cash (used in) provided by operating activities	(729)	181
CASH FLOWS FROM INVESTING ACTIVITIES:
Restricted cash		77
Net cash provided by investing activities		77
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of preferred shares	700
Net cash provided by financing activities	700
Net (decrease) increase in cash and cash equivalents	(29)	258
Cash and cash equivalents, beginning of period	618	680
Cash and cash equivalents, end of period	589	938
Supplementary disclosures of cash flow information:
Cash paid for income taxes, net of refunds	$ 6

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Current Assets
Cash and cash equivalents	$ 589	$ 618
Other current assets	18	14
Total current assets	607	632
Total assets	607	632
Current Liabilities
Accounts payable	3	6
Accrued liabilities	265	384
Income taxes payable		5
Total current liabilities	268	395
Long Term Liabilities
Preferred shares subject to mandatory redemption	700
Total liabilities	968	395
Stockholders’ Equity:
Series A Contingent Convertible Preferred stock, no par value, 10,000,000 shares authorized; 7,000,000 shares issued or outstanding
Common stock, $0.10 par value, 50,625,000 shares authorized; 14,614,165 shares issued and outstanding at July 31, 2017 and January 31, 2017	1,461	1,461
Additional paid-in capital	18,429	18,410
Accumulated deficit	(20,251)	(19,634)
Total stockholders’ (deficit) equity	(361)	237
Total liabilities and stockholders’ (deficit) equity	$ 607	$ 632