Price Graph
Price
Yield
These terms and conditions govern your use of the website alphaminr.com and its related services.
These Terms and Conditions (“Terms”) are a binding contract between you and Alphaminr, (“Alphaminr”, “we”, “us” and “service”). You must agree to and accept the Terms. These Terms include the provisions in this document as well as those in the Privacy Policy. These terms may be modified at any time.
Your subscription will be on a month to month basis and automatically renew every month. You may terminate your subscription at any time through your account.
We will provide you with advance notice of any change in fees.
You represent that you are of legal age to form a binding contract. You are responsible for any
activity associated with your account. The account can be logged in at only one computer at a
time.
The Services are intended for your own individual use. You shall only use the Services in a
manner that complies with all laws. You may not use any automated software, spider or system to
scrape data from Alphaminr.
Alphaminr is not a financial advisor and does not provide financial advice of any kind. The service is provided “As is”. The materials and information accessible through the Service are solely for informational purposes. While we strive to provide good information and data, we make no guarantee or warranty as to its accuracy.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES SHALL ALPHAMINR BE LIABLE TO YOU FOR DAMAGES OF ANY KIND, INCLUDING DAMAGES FOR INVESTMENT LOSSES, LOSS OF DATA, OR ACCURACY OF DATA, OR FOR ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF (1) FIFTY DOLLARS OR (2) THE AMOUNTS PAID BY YOU TO ALPHAMINR IN THE SIX MONTH PERIOD PRECEDING THIS APPLICABLE CLAIM. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL OR CERTAIN OTHER DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.
If any provision of these Terms is found to be invalid under any applicable law, such provision shall not affect the validity or enforceability of the remaining provisions herein.
This privacy policy describes how we (“Alphaminr”) collect, use, share and protect your personal information when we provide our service (“Service”). This Privacy Policy explains how information is collected about you either directly or indirectly. By using our service, you acknowledge the terms of this Privacy Notice. If you do not agree to the terms of this Privacy Policy, please do not use our Service. You should contact us if you have questions about it. We may modify this Privacy Policy periodically.
When you register for our Service, we collect information from you such as your name, email address and credit card information.
Like many other websites we use “cookies”, which are small text files that are stored on your computer or other device that record your preferences and actions, including how you use the website. You can set your browser or device to refuse all cookies or to alert you when a cookie is being sent. If you delete your cookies, if you opt-out from cookies, some Services may not function properly. We collect information when you use our Service. This includes which pages you visit.
We use Google Analytics and we use Stripe for payment processing. We will not share the information we collect with third parties for promotional purposes. We may share personal information with law enforcement as required or permitted by law.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California
|
95-4249240
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
|
28040 West Harrison Parkway, Valencia, California
|
91355-4162
|
|
(Address of principal executive offices)
|
(Zip Code)
|
|
Large accelerated filer
o
|
Accelerated filer
o
|
|
Non-accelerated filer
o
(Do not check if a smaller reporting company)
|
Smaller reporting company
x
|
|
Class
|
Outstanding on November 1, 2012
|
|
Class A common stock, $0.001 par value
|
4,777,144
|
|
Class B common stock, $0.001 par value
|
762,612
|
|
TAITRON COMPONENTS INCORPORATED
|
||
|
FORM 10-Q
|
||
|
September 30, 2012
|
||
|
TABLE
OF CONTENTS
|
||
|
Page
|
||
|
PART I - FINANCIAL INFORMATION
|
||
|
Item 1.
|
1 | |
|
1
|
||
|
2
|
||
|
3
|
||
|
4
|
||
|
Item 2.
|
7
|
|
|
Item 3.
|
9
|
|
|
Item 4.
|
9
|
|
|
PART II - OTHER INFORMATION
|
||
|
Item 1.
|
10
|
|
|
Item 2.
|
10
|
|
|
Item 3.
|
10
|
|
|
Item 4.
|
10
|
|
|
Item 5.
|
10
|
|
|
Item 6.
|
10
|
|
|
11
|
||
|
September 30,
|
December 31,
|
|||||||
|
2012
|
2011
|
|||||||
|
Assets
|
(Unaudited)
|
|||||||
|
Current assets:
|
||||||||
|
Cash and cash equivalents
|
$ | 2,078,000 | $ | 1,905,000 | ||||
|
Restricted cash (Note 4)
|
100,000 | 200,000 | ||||||
|
Trade accounts receivable, net of allowance for doubtful accounts
of $87,000 and $92,000, respectively
|
788,000 | 501,000 | ||||||
|
Inventory, net of reserve for obsolescence
of $4,903,000, and $4,233,000, respectively
|
11,753,000 | 12,801,000 | ||||||
|
Prepaid expenses and other current assets
|
58,000 | 55,000 | ||||||
|
Total current assets
|
14,777,000 | 15,462,000 | ||||||
|
Property and equipment, net
|
4,677,000 | 4,822,000 | ||||||
|
Other assets (Note 5)
|
1,226,000 | 874,000 | ||||||
|
Total assets
|
$ | 20,680,000 | $ | 21,158,000 | ||||
|
Liabilities and Shareholders’ Equity
|
||||||||
|
Current liabilities:
|
||||||||
|
Trade accounts payable
|
$ | 1,017,000 | $ | 793,000 | ||||
|
Accrued liabilities
|
365,000 | 332,000 | ||||||
|
Current portion of long-term debt from related party (Note 6)
|
1,500,000 | - | ||||||
|
Total current liabilities
|
2,882,000 | 1,125,000 | ||||||
|
Long-term debt from related party (Note 6)
|
- | 1,500,000 | ||||||
|
Total liabilities
|
2,882,000 | 2,625,000 | ||||||
|
Commitments and contingencies (Notes 6, 8 and 9)
|
||||||||
|
Shareholders’ equity:
|
||||||||
|
Preferred stock, $0.001 par value. Authorized 5,000,000 shares;
None issued or outstanding
|
- | - | ||||||
|
Class A common stock, $0.001 par value. Authorized 20,000,000 shares;
4,777,144 shares issued and outstanding
|
5,000 | 5,000 | ||||||
|
Class B common stock, $0.001 par value. Authorized, issued and outstanding 762,612 shares
|
1,000 | 1,000 | ||||||
|
Additional paid-in capital
|
10,629,000 | 10,616,000 | ||||||
|
Accumulated other comprehensive income
|
100,000 | 98,000 | ||||||
|
Retained earnings
|
6,906,000 | 7,631,000 | ||||||
|
Noncontrolling interest in subsidiary
|
157,000 | 182,000 | ||||||
|
Total shareholders’ equity
|
17,798,000 | 18,533,000 | ||||||
|
Total liabilities and shareholders’ equity
|
$ | 20,680,000 | $ | 21,158,000 | ||||
|
Three Months Ended September 30,
|
Nine Months Ended September 30,
|
|||||||||||||||
|
2012
|
2011
|
2012
|
2011
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||
|
Net sales
|
$ | 1,945,000 | $ | 1,682,000 | $ | 5,045,000 | $ | 5,199,000 | ||||||||
|
Cost of goods sold
|
1,518,000 | 1,206,000 | 3,992,000 | 3,542,000 | ||||||||||||
|
Gross profit
|
427,000 | 476,000 | 1,053,000 | 1,657,000 | ||||||||||||
|
Selling, general and administrative expenses
|
609,000 | 649,000 | 1,849,000 | 2,154,000 | ||||||||||||
|
Operating loss
|
(182,000 | ) | (173,000 | ) | (796,000 | ) | (497,000 | ) | ||||||||
|
Interest expense, net
|
(8,000 | ) | (13,000 | ) | (25,000 | ) | (51,000 | ) | ||||||||
|
Other income, net
|
27,000 | 26,000 | 73,000 | 70,000 | ||||||||||||
|
Loss before income taxes
|
(163,000 | ) | (160,000 | ) | (748,000 | ) | (478,000 | ) | ||||||||
|
Provision for income taxes
|
(1,000 | ) | - | (2,000 | ) | (2,000 | ) | |||||||||
|
Net loss
|
(164,000 | ) | (160,000 | ) | (750,000 | ) | (480,000 | ) | ||||||||
|
Net loss attributable to noncontrolling interests
|
9,000 | 3,000 | 25,000 | 15,000 | ||||||||||||
|
Net loss attributable to the Company
|
$ | (155,000 | ) | $ | (157,000 | ) | $ | (725,000 | ) | $ | (465,000 | ) | ||||
|
Loss per share: basic and diluted
|
$ | (0.03 | ) | $ | (0.03 | ) | $ | (0.14 | ) | $ | (0.09 | ) | ||||
|
Weighted-average common shares outstanding: basic and diluted
|
5,539,756 | 5,539,756 | 5,539,756 | 5,539,756 | ||||||||||||
|
Net loss
|
$ | (164,000 | ) | $ | (160,000 | ) | $ | (750,000 | ) | $ | (480,000 | ) | ||||
|
Other comprehensive income :
|
||||||||||||||||
|
Foreign currency translation adjustment
|
(2,000 | ) | 1,000 | 2,000 | 14,000 | |||||||||||
|
Comprehensive loss
|
(166,000 | ) | (159,000 | ) | (748,000 | ) | (466,000 | ) | ||||||||
|
Comprehensive loss attributable to noncontrolling interests
|
9,000 | 4,000 | 25,000 | 15,000 | ||||||||||||
|
Comprehensive loss attributable to the Company
|
$ | (157,000 | ) | $ | (155,000 | ) | $ | (723,000 | ) | $ | (451,000 | ) | ||||
|
Nine Months Ended September 30,
|
||||||||
|
2012
|
2011
|
|||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||
|
Cash flows provided by (used for) operating activities:
|
||||||||
|
Net loss
|
$ | (750,000 | ) | $ | (480,000 | ) | ||
|
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
|
||||||||
|
Depreciation and amortization
|
161,000 | 136,000 | ||||||
|
Provision for sales returns and doubtful accounts
|
19,000 | 16,000 | ||||||
|
Stock based compensation
|
13,000 | 7,000 | ||||||
|
Changes in assets and liabilities:
|
||||||||
|
Restricted cash
|
100,000 | - | ||||||
|
Trade accounts receivable
|
(306,000 | ) | (325,000 | ) | ||||
|
Inventory
|
1,048,000 | (283,000 | ) | |||||
|
Prepaid expenses and other current assets
|
(3,000 | ) | 64,000 | |||||
|
Trade accounts payable
|
224,000 | 323,000 | ||||||
|
Accrued liabilities
|
33,000 | (71,000 | ) | |||||
|
Other assets and liabilities
|
(2,000 | ) | - | |||||
|
Total adjustments
|
1,287,000 | (133,000 | ) | |||||
|
Net cash provided by (used for) operating activities
|
537,000 | (613,000 | ) | |||||
|
Cash flows provided by (used for) investing activities:
|
||||||||
|
Acquisition of property & equipment
|
(16,000 | ) | (29,000 | ) | ||||
|
Payments for investments in joint ventures
|
- | (539,000 | ) | |||||
|
Payments for investments in securities
|
(350,000 | ) | - | |||||
|
All other investing activity
|
- | 25,000 | ||||||
|
Net cash used for investing activities
|
(366,000 | ) | (543,000 | ) | ||||
|
Impact of exchange rates on cash
|
2,000 | 14,000 | ||||||
|
Net increase (decrease) in cash and cash equivalents
|
173,000 | (1,142,000 | ) | |||||
|
Cash and cash equivalents, beginning of period
|
1,905,000 | 3,095,000 | ||||||
|
Cash and cash equivalents, end of period
|
$ | 2,078,000 | $ | 1,953,000 | ||||
|
Supplemental disclosures of cash flow information:
|
||||||||
|
Cash paid for interest
|
$ | 39,000 | $ | 39,000 | ||||
|
Cash paid for income taxes, net
|
$ | 3,000 | $ | 3,000 | ||||
|
September 30,
|
December 31,
|
|||||||
|
2012
|
2011
|
|||||||
|
(Unaudited)
|
||||||||
|
Investment in securities - Zowie Technology
|
$ | 418,000 | $ | 68,000 | ||||
|
Investment in joint venture - Taiteam Technology
|
147,000 | 147,000 | ||||||
|
Investment in joint venture - Grand Shine Mgmt
|
637,000 | 637,000 | ||||||
|
Other
|
24,000 | 22,000 | ||||||
|
Other Assets
|
$ | 1,226,000 | $ | 874,000 | ||||
|
Number of Shares
|
Weighted Average Exercise Price
|
Weighted Average Years Remaining Contractual Term
|
Aggregate Intrinsic Value
|
|||||||||||||
|
Outstanding at December 31, 2011
|
427,500 | $ | 1.49 | 4.4 | $ | 18,300 | ||||||||||
|
Granted
|
90,000 | 1.02 | 8.7 | $ | - | |||||||||||
|
Forfeited
|
(63,000 | ) | 2.70 | |||||||||||||
|
Outstanding at September 30, 2012
|
454,500 | 1.35 | 4.8 | $ | 6,220 | |||||||||||
|
Exercisable at September 30, 2012
|
269,834 | $ | 1.52 | 3.2 | $ | 4,900 | ||||||||||
|
Exhibit
Number
|
Description of Document
|
|
|
31.1 *
|
||
|
31.2 *
|
||
|
32 *
|
||
| 101.INS | XBRL Instance Document | |
| 101.SCH | XBRL Taxonomy Extension Schema | |
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase | |
| 101.LAB | XBRL Taxonomy Extension Label Linkbase | |
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|