XENONICS HOLDINGS, INC.

CIK:0001289550|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues	$ 451,000	$ 257,000	$ 1,412,000	$ 337,000
Cost of goods sold	253,000	155,000	809,000	200,000
Gross profit	198,000	102,000	603,000	137,000
Selling, general and administrative	391,000	378,000	1,180,000	1,177,000
Research and development	92,000	57,000	259,000	285,000
Loss from operations	(285,000)	(333,000)	(836,000)	(1,325,000)
Other expenses:
Interest expense	(288,000)	(113,000)	(682,000)	(298,000)
Amortization of deferred financing costs	(14,000)		(42,000)
Change in fair value of derivative liabilities	844,000		(8,000)
Net income (loss) before provision for income taxes	257,000	(446,000)	(1,568,000)	(1,623,000)
Income tax provision			2,000	2,000
Net income (loss)	$ 257,000	$ (446,000)	$ (1,570,000)	$ (1,625,000)
Net income (loss) per share:
Basic and fully-diluted	$ 0.01	$ (0.02)	$ (0.06)	$ (0.07)
Weighted average shares outstanding:
Basic and fully-diluted	25,168,000	24,976,000	25,156,000	24,976,000

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (1,570,000)	$ (1,625,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,000	5,000
Change in inventory reserves	77,000
Non-cash charge for warrant extension	3,000
Amortization of debt discount and non-cash interest expense on convertible notes	352,000	67,000
Amortization of deferred financing costs	42,000
Change in fair value of derivative liabilities	8,000
Changes in operating assets and liabilities:
Accounts receivable	432,000	28,000
Inventories	158,000	137,000
Other current assets	(2,000)	3,000
Accounts payable	(7,000)	312,000
Accrued expenses	(42,000)	22,000
Accrued interest	246,000	231,000
Accrued payroll and related taxes	25,000	189,000
Net cash used in operating activities	(276,000)	(631,000)
Cash flows from financing activities:
Proceeds from convertible notes payable	289,000	420,000
Payment on notes payable	(146,000)
Warrants exercised	50,000
Net cash provided by financing activities	193,000	420,000
Net decrease in cash	(83,000)	(211,000)
Cash, beginning of period	130,000	220,000
Cash, end of period	47,000	9,000
Supplemental cash flow information:
Cash paid during the period for income taxes	2,000
Cash paid during the period for interest	80,000
Supplemental schedule of non-cash financing activities
Convertible note conversion	20,000
Derivative expense for conversion of notes payable	$ 123,000
The Company issued warrants to purchase shares of common stock in connection with notes payable. The fair value of the warrants was recorded as debt discount and additional paid in capital		19,000
The Company issued warrants to purchase shares of common stock as deferred financing costs in conjunction with convertible notes payable offerings		21,000
Debt discount was recorded for the beneficial conversion feature in conjunction with convertible notes payable		$ 57,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Current Assets:
Cash	$ 47,000	$ 130,000
Accounts receivable		432,000
Inventories	543,000	701,000
Deferred financing costs, current portion	55,000	55,000
Other current assets	19,000	19,000
Total Current Assets	664,000	1,337,000
Inventories, net of current portion	367,000	444,000
Equipment, furniture and fixtures at cost, net	2,000	5,000
Deferred financing costs, less current portion, net	62,000	103,000
Other assets	21,000	20,000
Goodwill	375,000	375,000
Total Assets	1,491,000	2,284,000
Current Liabilities:
Accounts payable	587,000	593,000
Accrued expenses	165,000	207,000
Accrued payroll and related taxes	154,000	131,000
Accrued interest	613,000	367,000
Convertible note payable, net of discount	9,000
Total Current Liabilities	1,528,000	1,298,000
Notes payable, net of debt discount	2,275,000	2,271,000
Derivative liabilities	1,015,000	904,000
Convertible notes payable, net of debt discount, less current portion	310,000	74,000
Total Liabilities	$ 5,128,000	$ 4,547,000
Contingencies (Note 13)
Shareholders' Deficit:
Preferred shares, $0.001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding
Common shares, $0.001 par value, 50,000,000 shares authorized as of June 30, 2015 and September 30, 2014; 25,755,000 shares issued and outstanding as of June 30, 2015 and 24,976,000 as of September 30, 2014	$ 26,000	$ 25,000
Additional paid-in capital	27,756,000	27,561,000
Accumulated deficit	(31,419,000)	(29,849,000)
Total Shareholders' Deficit	(3,637,000)	(2,263,000)
Total Liabilities and Shareholders' Deficit	$ 1,491,000	$ 2,284,000