TRIMEDYNE INC

CIK:0000357001|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Net revenues	$ 1,106,000	$ 1,482,000	$ 3,776,000	$ 4,027,000
Cost of sales	653,000	995,000	2,617,000	2,717,000
Gross profit	453,000	487,000	1,159,000	1,310,000
Operating expenses:
Selling, general and administrative	469,000	480,000	1,390,000	1,417,000
Research and development	100,000	86,000	293,000	336,000
Total operating expenses	569,000	566,000	1,683,000	1,753,000
Loss from operations	(116,000)	(79,000)	(524,000)	(443,000)
Other (expense) income, net	(2,000)	(17,000)	65,000	(15,000)
Loss before provision for income taxes	(118,000)	(96,000)	(459,000)	(458,000)
Provision for income taxes	5,000	1,000	10,000	8,000
Net loss	$ (123,000)	$ (97,000)	$ (469,000)	$ (466,000)
Net loss per share - Basic	$ (.01)	$ (.01)	$ (.03)	$ (.03)
Net loss per share - Diluted	$ (0.01)	$ (0.01)	$ (0.03)	$ (0.03)
Weighted average number of shares outstanding - Basic	18,395,960	18,395,960	18,395,960	18,395,960
Weighted average number of shares outstanding - Diluted	18,395,960	18,395,960	18,395,960	18,395,960

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (469,000)	$ (466,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation	7,000	43,000
Depreciation and amortization	96,000	146,000
Net loss on disposal of assets	(2,000)	0
Changes in operating assets and liabilities:
Trade accounts receivable	47,000	(24,000)
Inventories	233,000	(200,000)
Other assets	74,000	33,000
Accounts payable	24,000	29,000
Accrued expenses	(44,000)	(224,000)
Income tax payable	0	6,000
Deferred revenue	14,000	0
Accrued warranty	(16,000)	23,000
Deferred rent	(4,000)	2,000
Net cash used in operating activities	(36,000)	(632,000)
Cash flows from investing activities:
Purchase of property and equipment	0	(35,000)
Net cash used in investing activities	0	(35,000)
Cash flows from financing activities:
Principal payments on notes payable and capital leases	(90,000)	(87,000)
Net cash used in financing activities	(90,000)	(87,000)
Net decrease in cash and cash equivalents	(126,000)	(754,000)
Cash and cash equivalents at beginning of period	365,000	1,292,000
Cash and cash equivalents at end of period	239,000	538,000
Supplemental disclosure of cash flow information:
Cash paid for income taxes	10,000	8,000
Cash paid for interest	5,000	5,000
Supplemental disclosure of non-cash investing activity:
Company financing of insurance policies	$ 90,000	$ 80,000

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2016	Sep. 30, 2015
Current assets:
Cash and cash equivalents	$ 239,000	$ 365,000
Trade accounts receivable, net of allowance for doubtful accounts of $11,000 at June 30, 2016 and September 30, 2015, respectively	369,000	416,000
Inventories	1,575,000	1,808,000
Other current assets	131,000	96,000
Total current assets	2,314,000	2,685,000
Property and equipment, net	382,000	480,000
Other	58,000	75,000
Goodwill	544,000	544,000
Total Assets	3,298,000	3,784,000
Current liabilities:
Accounts payable	162,000	138,000
Accrued expenses	382,000	426,000
Deferred revenue	34,000	26,000
Accrued warranty	40,000	50,000
Taxes Payable	8,000	8,000
Current portion of note payable and capital leases	74,000	68,000
Total current liabilities	700,000	716,000
Deferred rent	1,000	5,000
Long-term debt	0	4,000
Total liabilities	701,000	725,000
Commitments and contingencies
Stockholders' equity:
Preferred stock - $0.01 par value, 1,000,000 shares authorized, none issued and outstanding	0	0
Common stock - $0.01 par value, 30,000,000 shares authorized, 18,497,569 shares issued, 18,395,960 shares outstanding at June 30, 2016 and September 30, 2015, respectively	186,000	186,000
Additional paid-in capital	51,363,000	51,356,000
Accumulated deficit	(48,239,000)	(47,770,000)
Stockholders' Equity before Treasury Stock	3,310,000	3,772,000
Treasury stock, at cost (101,609 shares)	(713,000)	(713,000)
Total stockholders' equity	2,597,000	3,059,000
Total liabilities and stockholder's equity	$ 3,298,000	$ 3,784,000