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LogicMark(LGMK) - 2021 Q1 - Quarterly Report
2021-05-17 21:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36616 (State or other jurisdiction of incorporation or organization) Delaware 46-0678374 (I.R.S. Employer Identification No.) 288 Christian Street Hangar C 2 Floor Oxford, CT 06478 (Address of principal executive offices)(Zip Code) (203) 266-2103 For the quarterly period ended: March 31, 2021 or ☐ TR ...
LogicMark(LGMK) - 2020 Q4 - Annual Report
2021-04-15 21:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Nxt-ID, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 46-0678374 (I.R.S. Employer Identification No.) 288 Christian Street Hangar C 2nd Floor Oxford, CT 06478 (Address of principal executive offices)(Zip ...
LogicMark(LGMK) - 2020 Q3 - Quarterly Report
2020-11-16 22:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 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: 001-36616 Delaware 46-0678374 (State or other jurisdiction of incorporation or organization) 288 ...
LogicMark(LGMK) - 2020 Q2 - Earnings Call Transcript
2020-08-18 21:56
Nxt-ID, Inc. (NXTD) Q2 2020 Earnings Conference Call August 18, 2020 4:10 AM ET Company Participants Vin Miceli - Chief Executive Officer Kevin O’Connor - President of LogicMark Operator Ladies and gentlemen, thank you for standing by and welcome to the Nxt-ID Investor Webcast. At this time, all participants are in a listen-only mode. After speakers’ presentation, there will be a question-and-answer session [Operator Instructions]. I would now like turn the conference to your host CEO, Vin Miceli. Sir, you ...
LogicMark(LGMK) - 2020 Q2 - Quarterly Report
2020-08-14 20:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ 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 ______________ 288 Christian Street Hangar C 2 Floor Oxford, CT 06478 (Address of principal executive offices)(Zip Code) (203) 266-2103 (Reg ...
LogicMark(LGMK) - 2020 Q1 - Earnings Call Transcript
2020-05-19 22:40
Financial Data and Key Metrics Changes - Revenues for Q1 2020 were approximately $3.7 million, down from $4.2 million in Q1 2019, reflecting a decrease of about 12% [7] - Gross profit for Q1 2020 was $2.8 million compared to $3.2 million in the same period of 2019, with a gross profit margin of approximately 75% [9] - Operating expenses decreased to approximately $1.8 million in Q1 2020 from $2.7 million in Q1 2019, indicating a reduction of about 33% [10] - Operating income for Q1 2020 was approximately $1.1 million, up from $0.5 million in Q1 2019 [11] - Non-GAAP operating income for Q1 2020 was about $1.3 million compared to $0.9 million in the prior year [12] - Net cash provided by operating activities was $0.5 million in Q1 2020, down from $0.8 million in Q1 2019 [12] - The company reduced its working capital deficiency by $300,000 during the quarter [13] - The cash balance at the end of March 2020 was just above $1.4 million, with equity growing to about $7.3 million [15] Business Line Data and Key Metrics Changes - The company experienced a revenue miss of approximately $400,000 due to the COVID pandemic, which also impacted the contribution margin by about $300,000 [8] - The commercial side of the business saw a slight pickup in sales, particularly in landline-based products for seniors, while the VA experienced a significant drop in activity [26][27] Market Data and Key Metrics Changes - The VA healthcare system was severely impacted by COVID-19, limiting appointments and affecting sales [26] - As healthcare systems begin to reopen, there is an expectation of pent-up demand, particularly in the VA and commercial channels [28][29] Company Strategy and Development Direction - The company is focused on reducing operating expenses and has made significant progress in streamlining operations [39][40] - New product development is a priority, with ongoing projects including a Wi-Fi product and a 4G LTE platform [30][32] - The company aims to build on existing platforms to enhance efficiency and meet market needs [34] Management's Comments on Operating Environment and Future Outlook - The management acknowledged that Q2 2020 would also be negatively impacted by COVID-19, with April revenues lower than March [38] - The company is taking measures to mitigate COVID-19 impacts, including cutting additional operating expenses and managing cash disbursements [39] - The outlook for the remainder of 2020 remains strong as the U.S. economy begins to reopen [35] Other Important Information - The company received approximately $350,000 in loan proceeds under the CARES Act, which will help mitigate COVID-19 impacts [17] - The company has not eliminated any employees during the pandemic, maintaining staff levels to support operations [24] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the session concluded without detailed inquiries [42]
LogicMark(LGMK) - 2020 Q1 - Quarterly Report
2020-05-15 20:41
(Mark One) ☒ 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 ______________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (I.R.S. Employer Identification No.) 288 Christian Street Hangar C 2 Floor Oxford, CT 06478 (Address of principal executive ...
LogicMark(LGMK) - 2019 Q4 - Annual Report
2020-03-30 21:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 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: 000-54960 Nxt-ID, Inc. (Exact name of registrant as specified in its charter) | Delaware | 46-0678374 | | --- | -- ...
LogicMark(LGMK) - 2019 Q3 - Earnings Call Transcript
2019-11-19 23:25
Nxt-ID, Inc. (NXTD) Q3 2019 Results Conference Call November 19, 2019 4:10 PM ET Company Participants Vin Miceli - CEO Kevin O'Connor - President, LogicMark Conference Call Participants Michael Diana - Maxim Group Operator Ladies and gentlemen, thank you for standing by and welcome to the Nxt-ID IR Update Webcast and Conference Call. At this time all participants’ lines are in a listen only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be ...
LogicMark(LGMK) - 2019 Q3 - Quarterly Report
2019-11-14 22:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 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: 000-54960 Delaware 46-0678374 (State or other jurisdiction of incorporation or organization) (I. ...