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Insignia(LDWY) - 2020 Q2 - Quarterly Report
2020-08-11 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 _______________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ___________ to ____________ Commission File Number: 1-13471 INSIGNIA SYSTEMS, INC. (Exact name of registrant as specified in its charter) ...
Insignia(LDWY) - 2020 Q1 - Quarterly Report
2020-05-14 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 _______________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ___________ to ____________ Commission File Number: 1-13471 INSIGNIA SYSTEMS, INC. (Exact name of registrant as specified in its charter ...
Insignia(LDWY) - 2019 Q4 - Annual Report
2020-03-10 19:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission File Number 1-13471 INSIGNIA SYSTEMS, INC. (Exact name of registrant as specified in its charter) Minnesota 41-1656308 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 8799 Brooklyn Blvd., Minneapolis, MN 55445 (Address of principal executive ...
Insignia(LDWY) - 2019 Q3 - Quarterly Report
2019-11-13 21:38
Financial Performance - For the quarter ended September 30, 2019, the company generated revenues of $4,654,000, a decrease of 50.8% compared to $9,455,000 for the same quarter in 2018[62][67]. - For the nine months ended September 30, 2019, revenues were $15,636,000, down 37.8% from $25,119,000 in the same period of 2018[62][67]. - The net loss for the quarter ended September 30, 2019 was $978,000, compared to a net income of $645,000 for the same quarter in 2018[62]. - For the three and nine months ended September 30, 2019, the company recorded a net loss of $978,000 and $2,562,000, respectively, compared to net income of $645,000 and $993,000 for the same periods in 2018[87]. Revenue Breakdown - Service revenues for the three months ended September 30, 2019 decreased 51.5% to $4,400,000, primarily due to a 68.8% decrease in POPS solution revenue[68]. Profitability Metrics - Gross profit for the three months ended September 30, 2019 decreased 74.0% to $926,000, with gross profit as a percentage of total net sales dropping to 19.9%[70]. Expense Analysis - Selling expenses for the three months ended September 30, 2019 decreased 36.9% to $573,000, but as a percentage of total net sales increased to 12.3%[76][77]. - Marketing expenses for the three months ended September 30, 2019 decreased 20.5% to $559,000, with the percentage of total net sales increasing to 12.0%[78][79]. - General and administrative expenses for the three months ended September 30, 2019 decreased 21.8% to $865,000, but as a percentage of total net sales increased to 18.6%[81][82]. Cash Flow and Liquidity - Cash and cash equivalents decreased by $2,380,000 from $10,160,000 at December 31, 2018 to $7,780,000 at September 30, 2019[64]. - During the nine months ended September 30, 2019, cash and cash equivalents decreased by $2,380,000, from $10,160,000 at December 31, 2018, to $7,780,000[88]. - Net cash used by operating activities during the nine months ended September 30, 2019, was $2,078,000, primarily due to a net loss of $2,562,000 and changes in operating assets and liabilities[90]. - Net cash used in investing activities during the nine months ended September 30, 2019, was $361,000, primarily for IT operating infrastructure projects[91]. - Net cash provided by financing activities during the nine months ended September 30, 2019, was $59,000, mainly from the issuance of common stock under the employee stock purchase plan[92]. - The company anticipates that its existing cash balance and future cash generated from operations will be sufficient for its cash requirements for at least the next twelve months[92]. Working Capital and Assets - As of September 30, 2019, the company's working capital was $11,453,000, a decrease from $13,351,000 at December 31, 2018[88]. - The largest component of the change in operating assets and liabilities was accounts receivable, which decreased by $2,324,000 from December 31, 2018[90]. Tax Considerations - The company recorded an increase of approximately $188,000 in its valuation allowance against deferred tax assets during the three months ended September 30, 2019, resulting in a total valuation allowance of approximately $287,000[86]. - The company has reassessed its deferred tax assets and concluded that it is more likely than not that it will not realize the full amount of its net deferred tax assets[86]. Strategic Initiatives - The company is pursuing efforts to drive innovation, client acquisitions, and retailer expansions in response to competitive pressures[62].
Insignia(LDWY) - 2019 Q2 - Quarterly Report
2019-08-08 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 _______________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended June 30, 2019 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 8799 Brooklyn Blvd., Minneapolis, MN 55445 (Address of principal executive offices; zip code) (763) 392-6200 (Registrant's telephone number, including area code) ...
Insignia(LDWY) - 2019 Q1 - Quarterly Report
2019-05-06 20:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 _______________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ___________ to ____________ Commission File Number: 1-13471 INSIGNIA SYSTEMS, INC. (Exact name of registrant as specified in its charter) ...
Insignia(LDWY) - 2018 Q4 - Annual Report
2019-03-07 22:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Table of Contents ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission File Number 1-13471 INSIGNIA SYSTEMS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 8799 Brooklyn Blvd., Minneapolis, MN 55445 (Address of principal executive of ...