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ForceField Energy Inc. – ‘10-K’ for 12/31/14 – ‘R4’

On:  Wednesday, 4/15/15, at 5:09pm ET   ·   For:  12/31/14   ·   Accession #:  1354488-15-1771   ·   File #:  1-36133

Previous ‘10-K’:  ‘10-K’ on 4/15/14 for 12/31/13   ·   Next & Latest:  ‘10-K/A’ on 4/30/15 for 12/31/14

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/15/15  ForceField Energy Inc.            10-K       12/31/14   97:8.3M                                   Issuer Direct/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.08M 
 2: EX-4.1      Covertible Promissory Note                          HTML     55K 
 3: EX-4.2      Warrant No.                                         HTML     52K 
 4: EX-21.1     Subsidiaries List                                   HTML     27K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     32K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     32K 
 7: EX-32       Certification -- §906 - SOA'02                      HTML     29K 
66: R1          Document and Entity Information                     HTML     54K 
53: R2          Consolidated Balance Sheets                         HTML    212K 
64: R3          Consolidated Balance Sheets (Parenthetical)         HTML     79K 
68: R4          Consolidated Statements of Operations and           HTML    163K 
                Comprehensive Loss                                               
87: R5          Consolidated Statement of Stockholders' Equity      HTML    136K 
55: R6          Consolidated Statements of Cash Flows               HTML    218K 
63: R7          1. Nature of Operations                             HTML     28K 
48: R8          2. Summary of Significant Accounting Policies       HTML     77K 
38: R9          3. Accounts Receivable                              HTML     34K 
88: R10         4. Costs and Estimated Earnings on Uncompleted      HTML     37K 
                Contracts                                                        
70: R11         5. Inventory                                        HTML     31K 
69: R12         6. Prepaid Expenses and Other Current Assets        HTML     33K 
75: R13         7. Property and Equipment                           HTML     39K 
76: R14         8. Business Combinations                            HTML     78K 
73: R15         9. Goodwill and Intangible Assets, Net              HTML     48K 
77: R16         10. Other Assets                                    HTML     29K 
65: R17         11. Accrued Liabilities                             HTML     34K 
67: R18         12. Related Party Payables                          HTML     27K 
72: R19         13. Other Noncurrent Liabilities                    HTML     29K 
97: R20         14. Income Taxes                                    HTML     65K 
83: R21         15. Debt                                            HTML     59K 
59: R22         16. Mandatorily Redeemable Non-Convertible          HTML     32K 
                Cummulative Preferred Stock                                      
71: R23         17. Stockholders' Equity                            HTML     64K 
61: R24         18. Commitments and Contingencies                   HTML     36K 
29: R25         19. Segment Information                             HTML     73K 
84: R26         20. Subsequent Events                               HTML     31K 
92: R27         2. Summary of Significant Accounting Policies       HTML    143K 
                (Policies)                                                       
43: R28         2. Summary of Significant Accounting Policies       HTML     39K 
                (Tables)                                                         
42: R29         3. Accounts Receivable (Tables)                     HTML     33K 
46: R30         4. Costs and Estimated Earnings on Uncompleted      HTML     37K 
                Contracts (Tables)                                               
47: R31         5. Inventory (Tables)                               HTML     30K 
49: R32         6. Prepaid Expenses and Other Current Assets        HTML     33K 
                (Tables)                                                         
22: R33         7. Property and Equipment (Tables)                  HTML     35K 
81: R34         8. Business Combinations (Tables)                   HTML     53K 
57: R35         9. Goodwill and Intangible Assets (Tables)          HTML     45K 
60: R36         10. Other Assets (Tables)                           HTML     29K 
33: R37         11. Accrued Liabilities (Tables)                    HTML     32K 
96: R38         13. Other Noncurrent Liabilities (Tables)           HTML     28K 
14: R39         14. Income Taxes (Tables)                           HTML     68K 
50: R40         15. Debt (Tables)                                   HTML     46K 
86: R41         17. Stockholders' Equity (Tables)                   HTML     37K 
31: R42         18. Commitments and Contingencies (Tables)          HTML     29K 
41: R43         19. Segment Information (Tables)                    HTML     59K 
45: R44         2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -     HTML     32K 
                Fair value (Details)                                             
54: R45         2. Summary of Significant Accounting Policies       HTML     31K 
                (Details)                                                        
21: R46         2. Summary of Significant Accounting Policies       HTML     34K 
                (Details Narrative)                                              
37: R47         3. Accounts Receivable (Details)                    HTML     47K 
16: R48         5. Inventory (Details)                              HTML     39K 
85: R49         6. Prepaid Expenses and Other Current Assets        HTML     48K 
                (Details)                                                        
30: R50         7. Property, Plant and Equipment (Details)          HTML     67K 
82: R51         7. Property, Plant and Equipment (Details           HTML     27K 
                Narrative)                                                       
34: R52         8. Business Combinations (Details)                  HTML     48K 
51: R53         8. Business Combinations (Details 1)                HTML     88K 
15: R54         8. Business Combinations (Details 2)                HTML     94K 
19: R55         8. Business Combinations (Details Narrative)        HTML     42K 
44: R56         9. Goodwill and Intangible Assets, Net (Details)    HTML     35K 
25: R57         9. Goodwill and Intangible Assets, Net (Details 1)  HTML     81K 
90: R58         9. Goodwill and Intangible Assets, Net (Details 2)  HTML     43K 
56: R59         10. Other Assets (Details)                          HTML     35K 
74: R60         11. Accrued Liabilities (Details)                   HTML     52K 
36: R61         12. Related Party Payables (Details)                HTML     29K 
39: R62         13. Other Noncurrent Liabilities (Details)          HTML     33K 
80: R63         14. Income Taxes (Details)                          HTML     77K 
78: R64         14. Income Taxes (Details 1)                        HTML     62K 
58: R65         14. Income Taxes (Details 2)                        HTML     38K 
79: R66         14. Income Taxes (Details 4)                        HTML     33K 
35: R67         14. Income Taxes (Details Narrative)                HTML     31K 
62: R68         15. Debt (Details)                                  HTML     40K 
91: R69         15. Debt (Details 1)                                HTML     95K 
18: R70         15. Debt (Details 2)                                HTML     35K 
28: R71         15. Debt (Details Narative)                         HTML     35K 
52: R72         16. Mandatorily Redeemable Non-Convertible          HTML     36K 
                Cummulative Preferred Stock (Details Narrative)                  
24: R73         17. Stockholders' Equity (Details)                  HTML     60K 
94: R74         17. Stockholders' Equity (Details 1)                HTML     42K 
32: R75         17. Stockholders' Equity (Details Narrative)        HTML     60K 
26: R76         18. Commitments and Contingencies (Details          HTML     29K 
                Narrative)                                                       
27: R77         19. Segment Information (Details)                   HTML    104K 
20: R78         19. Segment Information (Details 1)                 HTML     32K 
23: R79         19. Segment Information (Details 2)                 HTML     42K 
95: R9999       Uncategorized Items                                 HTML     37K 
93: XML         IDEA XML File -- Filing Summary                      XML    154K 
17: EXCEL       IDEA Workbook of Financial Reports                  XLSX    205K 
40: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    874K 
 8: EX-101.INS  XBRL Instance -- ssie-20141231                       XML   1.44M 
10: EX-101.CAL  XBRL Calculations -- ssie-20141231_cal               XML    182K 
11: EX-101.DEF  XBRL Definitions -- ssie-20141231_def                XML    753K 
12: EX-101.LAB  XBRL Labels -- ssie-20141231_lab                     XML   1.24M 
13: EX-101.PRE  XBRL Presentations -- ssie-20141231_pre              XML    923K 
 9: EX-101.SCH  XBRL Schema -- ssie-20141231                         XSD    244K 
89: ZIP         XBRL Zipped Folder -- 0001354488-15-001771-xbrl      Zip    157K 


‘R4’   —   Consolidated Statements of Operations and Comprehensive Loss


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v2.4.1.9
Consolidated Statements of Operations and Comprehensive Loss (USD $)
8 Months Ended 12 Months Ended 4 Months Ended
Sales   $ 7,123,458us-gaap_SalesRevenueNet  
Cost of goods sold   4,197,958us-gaap_CostOfGoodsSold  
Gross margin   2,925,500us-gaap_GrossProfit  
Operating expenses:      
Depreciation and amortization   10,207us-gaap_DepreciationAndAmortization  
Selling and marketing   735,071us-gaap_OtherSellingAndMarketingExpense  
General and administrative   1,590,610us-gaap_GeneralAndAdministrativeExpense  
Professional fees   26,365us-gaap_ProfessionalFees  
Total operating expenses   2,362,253us-gaap_OperatingExpenses  
Income (loss) from operations   563,247us-gaap_IncomeLossFromContinuingOperations  
Other income (expense)      
Interest expense, net   10,893us-gaap_InterestIncomeExpenseNet  
Other gains (losses)       
Total other income (expense)   10,893us-gaap_OtherIncome  
Income (loss) before income taxes   574,140us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic  
Provision for income taxes (benefit)   237,134us-gaap_DeferredIncomeTaxExpenseBenefit  
Net income (loss)   337,006us-gaap_NetIncomeLoss  
Less: Accretion of preferred stock   139,436us-gaap_PreferredStockDividendsAndOtherAdjustments  
Less: Net income attributable to noncontrolling interests       
Net income (loss) attributable to ForceField Energy Inc. stockholders   197,570us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic  
Basic earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders:   $ 0.16us-gaap_EarningsPerShareBasic  
Diluted earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders:   $ 0.16us-gaap_EarningsPerShareDiluted  
Weighted-average number of common shares outstanding:      
Basic   1,252,403us-gaap_WeightedAverageNumberOfSharesOutstandingBasic  
Diluted   1,252,403us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding  
Comprehensive loss:      
Net income (loss)   337,006us-gaap_NetIncomeLoss  
Foreign curreny translation adjustment 7,725us-gaap_ForeignCurrencyTransactionGainLossUnrealized     
Comprehensive income (loss)   337,006us-gaap_ComprehensiveIncomeNetOfTax  
Comprehensive income (loss) attributable to noncontrolling interests       
Comprehensive income (loss) attributable to ForceField Energy Inc. common stockholders   337,006us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest  
Successor      
Sales 7,519,803us-gaap_SalesRevenueNet
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Cost of goods sold 5,146,001us-gaap_CostOfGoodsSold
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Gross margin 2,373,802us-gaap_GrossProfit
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Operating expenses:      
Depreciation and amortization 559,871us-gaap_DepreciationAndAmortization
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Selling and marketing 733,495us-gaap_OtherSellingAndMarketingExpense
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
General and administrative 3,236,270us-gaap_GeneralAndAdministrativeExpense
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Professional fees 908,132us-gaap_ProfessionalFees
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Total operating expenses 5,437,768us-gaap_OperatingExpenses
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Income (loss) from operations (3,063,966)us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Other income (expense)      
Interest expense, net (463,934)us-gaap_InterestIncomeExpenseNet
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Other gains (losses) 545,000us-gaap_OtherNonoperatingGainsLosses
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Total other income (expense) 81,066us-gaap_OtherIncome
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Income (loss) before income taxes (2,982,900)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Provision for income taxes (benefit) (339,106)us-gaap_DeferredIncomeTaxExpenseBenefit
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Net income (loss) (2,643,794)us-gaap_NetIncomeLoss
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Less: Accretion of preferred stock       
Less: Net income attributable to noncontrolling interests (1,747)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Net income (loss) attributable to ForceField Energy Inc. stockholders (2,645,541)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Basic earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: $ (0.16)us-gaap_EarningsPerShareBasic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Diluted earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: $ (0.16)us-gaap_EarningsPerShareDiluted
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Weighted-average number of common shares outstanding:      
Basic 16,605,021us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Diluted 16,605,021us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Comprehensive loss:      
Net income (loss) (2,643,794)us-gaap_NetIncomeLoss
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Foreign curreny translation adjustment (7,725)us-gaap_ForeignCurrencyTransactionGainLossUnrealized
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Comprehensive income (loss) (2,651,519)us-gaap_ComprehensiveIncomeNetOfTax
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Comprehensive income (loss) attributable to noncontrolling interests (1,747)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Comprehensive income (loss) attributable to ForceField Energy Inc. common stockholders (2,653,266)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_SuccessorMember
   
Predecessor      
Sales     1,611,213us-gaap_SalesRevenueNet
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Cost of goods sold     1,138,827us-gaap_CostOfGoodsSold
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Gross margin     472,386us-gaap_GrossProfit
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Operating expenses:      
Depreciation and amortization     3,334us-gaap_DepreciationAndAmortization
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Selling and marketing     193,148us-gaap_OtherSellingAndMarketingExpense
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
General and administrative     485,670us-gaap_GeneralAndAdministrativeExpense
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Professional fees     37,317us-gaap_ProfessionalFees
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Total operating expenses     719,469us-gaap_OperatingExpenses
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Income (loss) from operations     (247,083)us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Other income (expense)      
Interest expense, net     5,567us-gaap_InterestIncomeExpenseNet
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Other gains (losses)       
Total other income (expense)     5,567us-gaap_OtherIncome
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Income (loss) before income taxes     (241,516)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Provision for income taxes (benefit)   (221,381)us-gaap_DeferredIncomeTaxExpenseBenefit
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
2,100us-gaap_DeferredIncomeTaxExpenseBenefit
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Net income (loss)     (243,616)us-gaap_NetIncomeLoss
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Less: Accretion of preferred stock     31,054us-gaap_PreferredStockDividendsAndOtherAdjustments
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Less: Net income attributable to noncontrolling interests       
Net income (loss) attributable to ForceField Energy Inc. stockholders     (274,670)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Basic earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders:     $ (0.22)us-gaap_EarningsPerShareBasic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Diluted earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders:     $ (0.22)us-gaap_EarningsPerShareDiluted
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Weighted-average number of common shares outstanding:      
Basic     1,252,403us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Diluted     1,252,403us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Comprehensive loss:      
Net income (loss)     (243,616)us-gaap_NetIncomeLoss
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Foreign curreny translation adjustment       
Comprehensive income (loss)     (243,616)us-gaap_ComprehensiveIncomeNetOfTax
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember
Comprehensive income (loss) attributable to noncontrolling interests       
Comprehensive income (loss) attributable to ForceField Energy Inc. common stockholders     $ (243,616)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_BusinessAcquisitionAxis
= us-gaap_PredecessorMember

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:4/15/15
For Period end:12/31/1410-K/A,  NT 10-K
4/25/148-K,  8-K/A
12/31/1310-K,  NT 10-K
 List all Filings 
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Filing Submission 0001354488-15-001771   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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