DEER VALLEY CORP

CIK:0000095047|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Jan. 02, 2016	Dec. 27, 2014
Income Statement [Abstract]
REVENUE	$ 35,663,343	$ 30,247,725
COST OF REVENUE	27,685,027	24,495,255
GROSS PROFIT	7,978,316	5,752,470
OPERATING EXPENSES:
Selling, general and administrative	5,969,731	4,692,077
TOTAL OPERATING EXPENSES	5,969,731	4,692,077
OPERATING INCOME	2,008,585	1,060,393
OTHER INCOME (EXPENSES)
Interest income	17	461
Other income (expense)	657,962	2,200
Interest expense	(31,854)	(37,637)
TOTAL OTHER INCOME/(EXPENSES)	626,125	(34,976)
INCOME BEFORE INCOME TAXES	2,634,710	1,025,417
INCOME TAX (EXPENSE)	(674,576)	(374,278)
NET INCOME	$ 1,960,134	$ 651,139
Net Income Per Share (Basic)	$ 0.13	$ 0.04
Net Income Per Share (Fully Diluted)	$ 0.13	$ 0.04
Weighted Average Common Shares Outstanding	15,514,344	15,436,518
Weighted Average Common and Common Equivalent Shares Outstanding	15,514,344	15,436,518

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jan. 02, 2016	Dec. 27, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 1,960,134	$ 651,139
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	218,198	172,607
Charitable Contribution of property, plant and equipment	800,000
Gain on sale of equipment	(657,962)	(2,200)
Provision for credit losses	65,710	(110,320)
Changes in assets and liabilities:
(Increase)/decrease in accounts receivables	(13,076)	(40,084)
(Increase)/decrease in inventories	(86,744)	77,138
(Increase)/decrease in deferred tax asset	(186,992)	170,406
(Increase)/decrease in inventory finance receivable	(814,232)	2,480,743
(Increase)/decrease in construction loan receivable		693,257
(Increase)/decrease in prepayments and other	(5,546)	55,634
Increase/(decrease) in accounts payable	(70,431)	(37,111)
Increase/(decrease) in income tax payable	409,682	25,715
Increase/(decrease) in accrued warranties	215,000	60,000
Increase/(decrease) in accrued expenses	314,344	276,422
CASH FLOW PROVIDED BY OPERATING ACTIVITIES	2,148,085	4,473,346
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of equipment	(253,773)	(336,396)
Proceeds from sale of property, plant and equipment	365,200	2,200
Purchases of investments	(3,000,000)
CASH FLOW (USED) IN INVESTING ACTIVITIES	(2,888,573)	(334,196)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	(486,067)	(125,600)
Proceeds from revolving credit loans		5,000,000
Repayments of revolving credit loans		(8,056,799)
Purchases of treasury stock		(29,763)
Issuance of common stock		81,900
CASH FLOW (USED) IN FINANCING ACTIVITIES	(486,067)	(3,130,262)
NET (DECREASE)/INCREASE IN CASH	(1,226,555)	1,008,888
CASH, Beginning	4,116,101	3,107,213
CASH, Ending	2,889,546	4,116,101
Cash paid during the period for:
Interest	39,547	86,022
Taxes	$ 453,490	$ 178,158

Consolidated Balance Sheets - USD ($)	Jan. 02, 2016	Dec. 27, 2014
Current Assets:
Cash	$ 2,889,546	$ 4,116,101
Investments	3,000,000
Accounts receivable, net	1,590,187	1,577,111
Inventory	1,320,224	1,233,480
Deferred tax asset	911,262	578,928
Inventory finance notes receivable	1,763,313	2,081,511
Prepaid expenses and other current assets	76,174	67,532
Total Current Assets	11,550,706	9,654,663
Fixed Assets:
Property, plant and equipment, net	1,835,831	2,307,495
Other Assets:
Inventory finance notes receivable, net	2,510,014	1,443,294
Deferred tax asset	1,294,196	1,439,538
Other assets	11,290	14,386
Total Other Assets:	3,815,500	2,897,218
Total Assets	17,202,037	14,859,376
Current Liabilities:
Current maturities on long term debt	330,333	125,600
Accounts payable	257,344	327,775
Accrued expenses	2,104,776	1,790,432
Accrued warranties	1,460,000	1,245,000
Income tax payable	575,558	165,877
Total Current Liabilities	4,728,011	3,654,684
Long Term Liabilities:
Long-term debt, net of current maturities		690,800
Total Long Term Liabilities		690,800
Total Liabilities	4,728,011	4,345,484
Stockholders' Equity:
Common stock, $0.001 par value, 100,000,000 shares authorized, 17,912,184 and 17,912,184 shares issued and 15,514,344 and 15,514,344 outstanding, respectively.	17,914	17,914
Additional paid-in capital	33,336,067	33,336,067
Treasury Stock, at cost; 2,397,840 and 2,397,840 shares, respectively	(1,305,378)	(1,305,378)
Accumulated deficit	(19,574,577)	(21,534,711)
Total Stockholders' Equity	12,474,026	10,513,892
Total Liabilities and Stockholders' Equity	$ 17,202,037	$ 14,859,376