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Fiscal 2013

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

 

Consolidated Statements of Income
 
   
 
For the Years Ended
 
   
February 28,
   
February 29,
 
   
2013
   
2012
 
             
SALES
 
$
4,847,147
   
$
5,142,260
 
COST OF SALES
   
2,502,365
     
2,651,007
 
GROSS PROFIT
   
2,344,782
     
2,491,253
 
                 
OPERATING EXPENSES
               
Selling, general and administrative expenses
   
1,813,836
     
1,998,244
 
Depreciation and amortization
   
50,053
     
42,898
 
                 
     Total operating expenses
   
1,863,889
     
2,041,142
 
                 
INCOME FROM OPERATIONS
   
480,893
     
450,111
 
                 
OTHER INCOME (EXPENSES)
               
Interest income
   
945
     
1,221
 
Interest expense
   
(1,956
)
   
(1,649
)
Other
   
11,221
     
(12,284
)
                 
     Total other income (expenses)
   
10,210
     
(12,712
)
                 
INCOME BEFORE INCOME TAX BENEFIT (EXPENSE)
   
491,103
     
437,399
 
                 
Income tax benefit (expense)
   
144,780
     
 (239,413
)
                 
NET INCOME
 
$
635,883
   
$
197,986
 
NET INCOME PER SHARE
               
  Basic
 
$
0.02
   
$
0.01
 
  Diluted
 
$
0.02
   
$
0.01
 
WEIGHTED AVERAGE NUMBER OF
               
SHARES OUTSTANDING
               
  Basic
   
25,808,928
     
25,932,373
 
  Diluted
   
26,621,500
     
26,000,358
 
                 

 






SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.
Consolidated Balance Sheets
   
ASSETS
     
       
   
February 28,
2013
   
February 29,
2012
 
CURRENT ASSETS
           
Cash and cash equivalents
 
$
2,234,545
   
$
1,148,995
 
Restricted cash
   
-
     
146,081
 
Accounts receivable, net of allowance for doubtful accounts and sales returns  of $114,591 and $78,885, respectively
   
641,635
     
61,782
 
Inventory, net
   
464,998
     
964,580
 
Deferred tax assets
   
463,942
     
120,242
 
Prepaid expenses, deposits and other current assets
   
125,080
     
179,347
 
      Total current assets
   
3,930,200
     
2,621,027
 
                 
PROPERTY AND EQUIPMENT, NET
   
179,876
     
171,304
 
                 
OTHER ASSETS
               
Intangible assets, net
   
4,995
     
5,799
 
Deferred tax assets
   
257,392
     
406,039
 
Other assets
   
8,514
     
8,514
 
                 
         TOTAL ASSETS     
 
$
4,380,977
   
$
3,212,683
 
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
                 
CURRENT LIABILITIES
               
   Accounts payable and accrued expenses
 
$
157,253
   
$
158,758
 
   Customer deposits
   
371,327
     
197,696
 
   Notes payable and capital lease obligation
   
4,581
     
4,331
 
      Total current liabilities
   
533,161
     
360,785
 
                 
LONG-TERM LIABILITIES
               
     
               
     Capital lease obligation
   
14,010
     
18,591
 
      Total long-term liabilities
   
14,010
     
18,591
 
                 
      Total liabilities
   
547,171
     
379,376
 
                 
Commitments and contingencies (Note 10)
               
                 
STOCKHOLDERS' EQUITY
               
Preferred stock, 6,000,000 shares authorized,
               
    none issued or outstanding
   
-
     
-
 
Common stock $0.001 par value, 50,000,000 shares
               
authorized, 25,833,646 and 25,800,146 shares
               
issued and outstanding, respectively
   
25,834
     
25,800
 
Additional paid-in capital
   
7,715,232
     
7,350,650
 
Accumulated deficit
   
(3,907,260
)
   
(4,543,143
)
                 
      Total Stockholders' Equity
   
3,833,806
     
2,833,307
 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
 
$
4,380,977
   
$
3,212,683
 


Q1 2014

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
 
   
For the Three Months Ended
 
   
May 31,
 
   
2013
   
2012
 
Sales
 
$
1,566,057
   
$
898,009
 
Cost of sales
   
773,314
     
588,205
 
               Gross profit
   
792,743
     
309,804
 
Operating Expenses
               
    Selling, General, and Administrative Expenses
   
496,839
     
467,574
 
    Depreciation and Amortization
   
13,255
     
11,368
 
                 Total  operating  expenses
   
510,094
     
478,942
 
 Income (Loss)  from Operations
   
282,649
     
(169,138
)
Other Income (Expense):
               
     Interest income
   
223
     
318
 
     Interest expense
   
(300
)
   
(423
)
     Other income
   
53,531
     
515
 
                    Total other income
   
53,454
     
410
 
 Income (loss)  before provision for income taxes
   
336,103
     
(168,728
)
 Income tax benefit (expense)
   
(135,789
)
   
71,287
 
Net  Income (Loss)
 
$
200,314
   
$
(97,441
)
BASIC INCOME (LOSS) PER SHARE
 
$
0.01
   
$
(0.00
)
DILUTED  INCOME (LOSS) PER SHARE
 
$
0.01
   
$
(0.00
)
BASIC WEIGHTED AVERAGE NUMBER OF
               
SHARES OUTSTANDING
   
25,833,646
     
25,800,146
 
DILUTED WEIGHTED AVERAGE NUMBER OF
               
SHARES OUTSTANDING
   
25,833,646
     
25,800,146
 
 
 
 
 
Seychelle Environmental Technologies Inc.
32963 Calle Perfecto
San Juan Capistrano, CA 92675
United States - Yahoo Maps: http://maps.yahoo.com/maps_result?addr=32963%20Calle%20Perfecto&csz=San%20Juan%20Capistrano+CA+92675&country=United%20States" rel="nofollow
Google Maps: https://maps.google.com/maps?q=seychelle+environmental&hl=en&ll=33.484431,-117.672672&spn=0.012456,0.01987&sll=41.833733,-87.731964&sspn=0.712157,1.271667&hq=seychelle+environmental&radius=15000&t=m&z=16&iwloc=A

Phone: 949-234-1999
Fax: 949-234-1998
Web Site: http://www.seychelle.com
Facebook: https://www.facebook.com/SeychelleWaterFiltration
Twitter: https://twitter.com/seychelle_water
    
 
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SYEV News: Current Report Filing (8-k) 10/17/2016 08:46:31 AM
SYEV News: Quarterly Report (10-q) 10/14/2016 04:16:41 PM
SYEV News: Current Report Filing (8-k) 10/13/2016 04:47:55 PM
SYEV News: Current Report Filing (8-k) 08/31/2016 10:34:06 AM
SYEV News: Current Report Filing (8-k) 08/10/2016 07:59:58 AM
PostSubject
#1405   Make that 3 pennies. swampboots 11/16/16 06:35:26 PM
#1404   Riotous rise of a penny today? swampboots 11/16/16 02:02:02 PM
#1403   Something up????? sagedono 09/26/16 10:09:58 AM
#1402   Form 8-K for SEYCHELLE ENVIRONMENTAL TECHNOLOGIES INC /CA b9molecule 08/12/16 11:01:19 AM
#1401   Good luck and post once and a while. sagedono 08/09/16 07:47:30 PM
#1400   I'm tired of waiting for this company. So zj3001 08/09/16 03:56:57 PM
#1399   I see it on yahoo but not here. zj3001 07/14/16 03:32:15 PM
#1398   What PR? zj3001 07/14/16 03:29:02 PM
#1397   Great PR...not. Fool me once, shame on you! sagedono 07/14/16 12:19:54 PM
#1396   Shame on management for killing this stock and sagedono 07/12/16 10:01:30 AM
#1395   Not only did we get news that would sagedono 06/22/16 10:14:42 AM
#1394   Obviously everyone is mulling over the stupid ways sagedono 06/20/16 10:52:32 AM
#1393   Ok you found some rock to mine, I swampboots 06/17/16 01:52:26 PM
#1392   Most of the people who buy Seychelle filters Mermelstein 06/17/16 12:47:30 PM
#1391   Riotous disaster in share price (SYEV) swampboots 06/17/16 10:06:04 AM
#1390   Good thing I hold only a few shares zj3001 06/16/16 10:25:00 PM
#1389   I think most here are still throwing up. sagedono sagedono 06/16/16 10:23:20 PM
#1388   Yep, and the patents expire this year and next. zj3001 06/16/16 10:02:04 PM
#1387   The following change: The Scavenger 06/16/16 02:39:36 PM
#1386   I don't have the time to go over sagedono 06/16/16 02:31:38 PM
#1385   It's interesting that this opened today with a sagedono 06/16/16 12:20:13 PM
#1384   Starting to turn up,hope the .20s I bought sagedono 06/16/16 11:21:18 AM
#1383   Not sure, but anything possible at this point. sagedono 06/16/16 11:09:51 AM
#1382   Are we sure this isn't the large warrants zj3001 06/16/16 10:57:58 AM
#1381   Are we sure this isn't the large warrants zj3001 06/16/16 10:57:58 AM
#1380   I would like to think they will back sagedono 06/16/16 10:39:56 AM
#1379   I'd like to know why they didn't disclose Mermelstein 06/16/16 10:30:19 AM
#1378   Exactly! I wonder whose idea it was to sagedono 06/16/16 10:24:27 AM
#1377   They'd surely be facing class action shareholder lawsuits hweb2 06/16/16 10:08:16 AM
#1376   Just added at .20 , might be a sagedono 06/16/16 10:05:16 AM
#1375   Anyone buying below .20? I'm kind of hweb2 06/16/16 10:03:20 AM
#1374   Almost borders criminal, the company's antics in the sagedono 06/16/16 10:00:19 AM
#1373   Too late to sell now. Company has been Mermelstein 06/16/16 09:48:27 AM
#1372   Down .34 on 126,000 shares. Now that's throwing sagedono 06/16/16 09:46:58 AM
#1371   Lemmings are at full gallop now! I blame sagedono 06/16/16 09:40:59 AM
#1370   Never mind. Just read the press release. "Q1 MarkFF 06/16/16 09:03:13 AM
#1369   Gross Margin dropped to 29.7% in Q4, compared MarkFF 06/16/16 08:47:11 AM
#1368   I am here to stay and will add sagedono 06/15/16 08:20:36 PM
#1367   Hope you're right. Believe me I've got hweb2 06/15/16 07:32:04 PM
#1366   Good news is that this stock wasn't exactly Mermelstein 06/15/16 07:06:28 PM
#1365   There had to be one-time charges in Q4. Mermelstein 06/15/16 06:46:59 PM
#1364   Yeah Q4 stunk for SYEV. And this hweb2 06/15/16 06:25:07 PM
#1363   SYEV loses $325,000 or about .01/share for nelson1234 06/15/16 06:17:12 PM
#1362   Sales. The increase in sales of b9molecule 06/15/16 06:07:29 PM
#1361   https://www.youtube.com/watch?v=DgaFC0fr7Jw Here's another video post the same day sagedono 06/15/16 05:24:36 PM
#1360   https://www.youtube.com/watch?v=BMhiiWrH86s Get a load of this video posted 6 sagedono 06/15/16 05:24:06 PM
#1359   Looks like $0.07 eps, backing out the income Mermelstein 06/15/16 05:22:32 PM
#1358   NEWS! 10-k out sagedono 06/15/16 05:04:17 PM
#1357   By my understanding of filing, you are correct. sagedono 06/15/16 10:05:33 AM
#1356   The calendar year ended on February 29. The Scavenger 06/15/16 07:32:37 AM
PostSubject