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Seychelle Environmental Technologies Inc (SYEV)

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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) 07/18/2017 02:57:47 PM
SYEV News: Quarterly Report (10-q) 07/17/2017 05:25:33 PM
SYEV News: Current Report Filing (8-k) 06/15/2017 08:47:45 AM
SYEV News: Annual Report (10-k) 06/14/2017 03:50:49 PM
SYEV News: Notification That Annual Report Will Be Submitted Late (nt 10-k) 05/30/2017 12:31:38 PM
PostSubject
#1412   ..any ole timers around this ticker anymore?? em ddbl_our_buck 08/21/17 04:52:52 PM
#1411   10q released yesterday zj3001 07/18/17 10:21:37 AM
#1410   Is this why up .025 today? swampboots 07/18/17 09:34:15 AM
#1409   Did you see China is going to invest zj3001 07/11/17 04:40:34 PM
#1408   Have not forgiven SYEV for the BS sagedono 05/11/17 08:46:54 PM
#1407   Seems to be a lack of SYEV excitement. G Bert 05/11/17 12:39:25 PM
#1406   Volume is off the charts here again today. Peggy 04/27/17 12:26:36 PM
#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
PostSubject
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