Form 10-Q

Large accelerated filer

Accelerated filer

Non-accelerated filer

¨ (Do not check if a smaller reporting company)

Smaller reporting company

0001193125-16-580692.txt : 20160506 0001193125-16-580692.hdr.sgml : 20160506 20160506060333 ACCESSION NUMBER: 0001193125-16-580692 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 57 CONFORMED PERIOD OF REPORT: 20160331 FILED AS OF DATE: 20160506 DATE AS OF CHANGE: 20160506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFOSONICS Corp CENTRAL INDEX KEY: 0001274032 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 330599368 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-32217 FILM NUMBER: 161625810 BUSINESS ADDRESS: STREET 1: 3636 NOBEL DRIVE, SUITE 325 CITY: SAN DIEGO STATE: CA ZIP: 92122 BUSINESS PHONE: 858 373-1600 MAIL ADDRESS: STREET 1: 3636 NOBEL DRIVE, SUITE 325 CITY: SAN DIEGO STATE: CA ZIP: 92122 FORMER COMPANY: FORMER CONFORMED NAME: INFOSONICS CORP DATE OF NAME CHANGE: 20031219 10-Q 1 d179864d10q.htm FORM 10-Q Form 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT UNDER SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2016

Commission File Number—001-32217

InfoSonics Corporation

(Exact name of registrant as specified in its charter)

Maryland

33-0599368

(State or other jurisdiction of

incorporation or organization)

(IRS Employer

Identification Number)

3636 Nobel Drive, Suite #325, San Diego, CA 92122-1078

(Address of principal executive offices including zip code)

(858) 373-1600

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files) Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

As of May 3, 2016, the Registrant had 14,388,728 shares outstanding of its $0.001 par value common stock.

InfoSonics Corporation

FORM 10-Q

For quarterly period ended March 31, 2016

Table of Contents


PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements
•	Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2016 and 2015 (unaudited)	3
•	Consolidated Balance Sheets at March 31, 2016 (unaudited) and December 31, 2015	4
•	Consolidated Statements of Cash Flows for the three months ended March 31, 2016 and 2015 (unaudited)	5
•	Condensed Notes to Consolidated Financial Statements (unaudited)	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	14
Item 4.	Controls and Procedures	15

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings	16
Item 1A.	Risk Factors	16
Item 6.	Exhibits	18

Part I. FINANCIAL INFORMATION

Item 1.

Financial Statements

InfoSonics Corporation and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income (Loss)

(Amounts in thousands, except per share data)

(unaudited)


	For the Three Months Ended March 31,
	2016			2015
Net sales	$	9,410		$	14,517
Cost of sales		8,232			11,963

Gross profit		1,178			2,554
Operating expenses		1,857			1,896

Operating income (loss)		(679	)		658

Other income (expense):
Other, net		(165	)		—
Interest, net		(56	)		(123	)

Income (loss) before provision for income taxes		(900	)		535
Provision for income taxes		(3	)		(3	)

Net income (loss)	$	(903	)	$	532

Net income (loss) per share:
Basic	$	(0.06	)	$	0.04
Diluted	$	(0.06	)	$	0.04

Weighted-average number of common shares outstanding:
Basic		14,389			14,362
Diluted		14,389			14,755

Comprehensive income (loss):
Net income (loss)	$	(903	)	$	532
Foreign currency translation adjustments		(442	)		(121	)

Comprehensive income (loss)	$	(1,345	)	$	411

Accompanying notes are an integral part of these consolidated financial statements.

InfoSonics Corporation

Consolidated Balance Sheets

(Amounts in thousands, except per share data)


	March 31, 2016			December 31, 2015
	(unaudited)			(audited)
ASSETS
Current assets:
Cash and cash equivalents	$	438		$	2,647
Trade accounts receivable, net of allowance for doubtful accounts of $95 and $95, respectively		8,756			9,291
Other accounts receivable		82			96
Inventory		6,930			6,637
Prepaid assets		2,097			2,025

Total current assets		18,303			20,696
Property and equipment, net		191			156
Other assets		153			129

Total assets	$	18,647		$	20,981

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	3,521		$	4,398
Accrued expenses		2,154			2,343

Total current liabilities		5,675			6,741

Commitments and Contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000 shares authorized (no shares issued and outstanding)		—			—
Common stock, $0.001 par value, 40,000 shares authorized; 14,389 and 14,389 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively		14			14
Additional paid-in capital common stock		32,936			32,859
Accumulated other comprehensive loss		(2,034	)		(1,592	)
Accumulated deficit		(17,944	)		(17,041	)

Total stockholders’ equity		12,972			14,240

Total liabilities and stockholders’ equity	$	18,647		$	20,981

Accompanying notes are an integral part of these consolidated financial statements.

InfoSonics Corporation

Consolidated Statements of Cash Flows

(Amounts in thousands)

(unaudited)


	For the Three Months Ended March 31,
	2016			2015
Cash flows from operating activities:
Net income (loss)	$	(903	)	$	532
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		21			22
Provision for obsolete inventory		57			(67	)
Stock-based compensation		77			51
(Increase) decrease in:
Trade accounts receivable		535			1,152
Other accounts receivable		14			(15	)
Inventory		(350	)		(1,960	)
Prepaids		(72	)		818
Other assets		(24	)		(25	)
Increase (decrease) in:
Accounts payable		(877	)		1,036
Accrued expenses		(189	)		(52	)

Net cash provided by (used in) operating activities		(1,711	)		1,492

Cash flows from investing activities:
Purchase of property and equipment		(56	)		(3	)

Net cash used in investing activities		(56	)		(3	)

Cash flows from financing activities:
Borrowings on line of credit		—			3,091
Repayments on line of credit		—			(3,091	)
Cash received from exercise of stock options		—			16

Net cash provided by financing activities		—			16

Effect of exchange rate changes on cash		(442	)		(121	)

Net increase (decrease) in cash and cash equivalents		(2,209	)		1,384
Cash and cash equivalents, beginning of period		2,647			1,464

Cash and cash equivalents, end of period	$	438		$	2,848

Cash paid for interest	$	67		$	115
Cash paid for income taxes	$	—		$	—

Accompanying notes are an integral part of these consolidated financial statements.

InfoSonics Corporation

Condensed Notes to Consolidated Financial Statements

March 31, 2016

(unaudited)

NOTE 1. Basis of Presentation

The accompanying unaudited consolidated financial statements and these condensed notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The preparation of financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results are likely to differ from those estimates, but management does not believe such differences will materially affect the financial position or results of operations of InfoSonics Corporation (the “Company”), although they may. These unaudited consolidated financial statements and condensed notes should be read in conjunction with the financial statements and notes as of and for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K for such year.

The Company’s consolidated financial statements include assets, liabilities and operating results of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.

In the opinion of management, these unaudited consolidated financial statements reflect all normal recurring adjustments considered necessary to fairly present the Company’s results of operations, financial position and cash flows as of March 31, 2016 and for all periods presented. The results reported in these consolidated financial statements for the three months ended March 31, 2016 are not necessarily indicative of the operating results, financial condition or cash flows that may be expected for the full fiscal year of 2016 or for any future period.

NOTE 2. Stock-Based Compensation

The Company has two stock-based compensation plans: the 2006 Equity Incentive Plan (“2006 Plan”) and the 2015 Equity Incentive Plan (“2015 Plan”), both of which were approved by our stockholders. As of March 31, 2016, options to purchase 942,000 and 315,000 shares were outstanding under the 2006 Plan and the 2015 Plan, respectively, and a total of 899,000 shares were available for grant under the 2015 Plan. No options are available for grant under the 2006 Plan.

The Company’s stock options vest on an annual or a monthly basis. Stock options generally are exercisable for up to seven years after grant, subject to continued employment or service. The Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period of the award, which is generally the option vesting term. Such amount may change as a result of additional grants, forfeitures, modifications in assumptions and other factors. Income tax effects of share-based payments are recognized in the financial statements for those awards which will normally result in tax deductions under existing tax law. During the three months ended March 31, 2016 and 2015, we recorded an expense of $77,000 and $51,000, respectively, related to options previously granted. Under current U.S. federal tax law, we receive a compensation expense deduction related to non-qualified stock options only when those options are exercised and vested shares are received. Accordingly, the financial statement recognition of compensation expense for non-qualified stock options creates a deductible temporary difference that results in a deferred tax asset and a corresponding deferred tax benefit in our consolidated statements of operations.

During the three months ended March 31, 2016 and 2015, the Company did not grant any stock options. As of March 31, 2016, there was $341,000 of total unrecognized compensation expense related to non-vested stock options. That expense is expected to be recognized over the remaining weighted-average period of 1.51 years.

A summary of option activity under both the 2006 Plan and the 2015 Plan as of March 31, 2016 and changes during the three months then ended is presented in the table below (shares in thousands):


	Shares		Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Life in Years
Outstanding at December 31, 2015		1,257	$	1.04		4.51
Granted		—	$	—
Exercised		—	$	—
Forfeited		—	$	—

Outstanding at March 31, 2016		1,257	$	1.04		4.26

Vested and expected to vest		1,190	$	1.01		4.17
Exercisable at March 31, 2016		876	$	0.82		3.37

A summary of the status of the Company’s non-vested options at March 31, 2016 and changes during the three months then ended is presented below (shares in thousands):


	Shares			Weighted-average grant-date fair value
Non-vested at December 31, 2015		450		$	1.16
Granted		—		$	—
Vested		(69	)	$	1.07
Forfeited		—		$	—

Non-vested at March 31, 2016		381		$	1.17

The Company’s share-based compensation is classified in the same expense line item as cash compensation. Information about share-based compensation included in the unaudited results of operations for the three months ended March 31, 2016 and 2015 is as follows (in thousands):


	For the Three Months Ended March 31,
	2016		2015
Officer compensation	$	33	$	23
Non-employee directors		16		11
Sales, general and administrative		28		17

Total share-based compensation expense	$	77	$	51

NOTE 3. Earnings Per Share

Basic earnings per share are computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed similarly to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common share equivalents are excluded from the computation if their effect is anti-dilutive. The Company’s common share equivalents consist of stock options.

Common shares from the potential exercise of certain options are excluded from the computation of diluted earnings (loss) per share if their exercise prices are greater than the Company’s average stock price for the period. For the three months ended March 31, 2016, the number of such shares excluded was 315,000. For the three months ended March 31, 2015, no such shares were excluded. In addition, because their effect would have been anti-dilutive, common shares from exercise of 942,000 in-the-money options for the three months ended March 31, 2016 have been excluded from the computation of net loss per share.

NOTE 4. Income Taxes

The Company made a comprehensive review of its portfolio of uncertain tax positions in accordance with applicable standards of the Financial Accounting Standards Board (“FASB”). In this regard, an uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. As a result of this review, the Company concluded that at this time there are no uncertain tax positions, and there has been no cumulative effect on retained earnings.

The Company is subject to U.S. federal income tax as well as income tax in multiple states and foreign jurisdictions. For all major taxing jurisdictions, the tax years 2004 through 2015 remain open to examination or re-examination. As of March 31, 2016, the Company does not expect any material changes to unrecognized tax positions within the next twelve months.

The Company recognizes the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity’s financial statements or tax returns. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. Fluctuations in the actual outcome of these future tax consequences could materially impact the Company’s financial position or results of operations. For the three months ended March 31, 2016, deferred income tax assets and the corresponding valuation allowance increased by $92,000.

NOTE 5. Inventory

Inventory is stated at the lower of cost (first-in, first-out) or market and consists primarily of cellular phones and cellular phone accessories. The Company records a reserve against inventories to account for obsolescence and possible price concessions required to liquidate inventories below cost. During the three months ended March 31, 2016, the inventory reserve balance was increased by $57,000. As of March 31, 2016 and December 31, 2015, the inventory reserve was $333,000 and $276,000, respectively. From time to time, the Company has prepaid inventory as a result of payments for products which have not been received by the balance sheet date. As of March 31, 2016 and December 31, 2015, the prepaid inventory balances were $1,196,000 and $1,232,000, respectively, which are included in prepaid assets in the accompanying consolidated balance sheets. Inventory consists of the following (in thousands):


	March 31, 2016 (unaudited)			December 31, 2015 (audited)
Finished goods	$	7,263		$	6,913
Inventory reserve		(333	)		(276	)

Net inventory	$	6,930		$	6,637

NOTE 6. Property and Equipment

Property and equipment are primarily located in the United States and China and consisted of the following as of the dates presented (in thousands):


	March 31, 2016 (unaudited)			December 31, 2015 (audited)
Machinery and equipment	$	378		$	322
Tooling and molds		58			58
Furniture and fixtures		164			164

Subtotal		600			544
Less accumulated depreciation		(409	)		(388	)

Total	$	191		$	156

Depreciation expense for the three months ended March 31, 2016 and 2015 was $21,000 and $22,000, respectively.

NOTE 7. Accrued Expenses

As of March 31, 2016 and December 31, 2015, accrued expenses consisted of the following (in thousands):


	March 31, 2016 (unaudited)		December 31, 2015 (audited)
Accrued product costs	$	466	$	465
Accrued coop advertising		302		567
Accrued vacation pay		208		217
Income taxes payable		101		109
Foreign currency forward exchange contracts		263		—
Other accruals		814		985

Total	$	2,154	$	2,343

NOTE 8. Line of Credit

On March 27, 2014, the Company entered into a Loan and Security Agreement and an attendant Intellectual Property Security Agreement (collectively the “Agreement”) with Silicon Valley Bank (“SVB”), pursuant to which the Company could borrow up to $2 million based upon both its domestic and foreign eligible accounts receivable multiplied by an advance rate of 80% and 70%, respectively, with eligibility determined in accordance with the Agreement (the “Credit Facility”). The Credit Facility is secured by substantially all of the Company’s assets. Borrowings under the Credit Facility bear interest based on the face amount of the financed receivables at the prime rate plus 4.5% for domestic receivables and 3.53% for foreign receivables. On August 4, 2015, the Credit Facility, which contains representations and warranties, affirmative, restrictive and financial covenants, and events of default which are customary for credit facilities of this type, was amended to increase the availability of borrowings under the Credit Facility to $7 million. At March 31, 2016, the Company was in compliance with all covenants, no amounts were drawn against the Credit Facility and $7 million was available for borrowing under the credit line. The maturity date of the Credit Facility is September 27, 2017.

NOTE 9. Foreign Exchange Hedging Facility

On January 14, 2016, the Company entered into an Agreement for Purchase and Sale of Foreign Securities (the “FS Agreement”) with SVB. Under the FS Agreement, the Company and SVB can enter into foreign currency spot contracts, forward contracts, forward window contracts and options to manage the Company’s foreign currency risk. During the three months ended March 31, 2016, the Company entered into forward contracts designated as cash flow hedges to protect against the foreign currency exchange rate risk of the Mexican Peso inherent in its forecasted net sales and cash collections from customers in Mexico. The hedges mature on a monthly basis through June 30, 2016. Changes in the fair value of the hedges are initially recorded in accumulated other comprehensive loss as a separate component of stockholders’ equity in the Consolidated Balance Sheet and subsequently reclassified into earnings as other income (loss) on the Consolidated Statement of Operations and Comprehensive Income (Loss) in the period in which the hedge matures. During the three months ended March 31, 2016, the Company recorded a loss of $169,000 on forward contracts that matured during the period. At March 31, 2016, the fair value obligation of outstanding forward contracts of $263,000 was included in accrued expenses with the related loss amount remaining in accumulated other comprehensive loss.

NOTE 10. Recent Accounting Pronouncements

Issued (Not adopted yet):

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017 and early application is not permitted. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements as well as the expected adoption method.

In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements Going Concern (Subtopic 205-40) -Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” This ASU requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period, including interim periods, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which revises the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use (“ROU”) asset for all leases. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. ASU 2016-02 is effective for annual and interim reporting periods within those years beginning after December 15, 2018 and early adoption is permitted. This update should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-05, “Derivatives and Hedging (Topic 815),” which clarifies that a change in the counterparty to a derivative instrument that has been designed as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. ASU 2016-05 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied either on a prospective basis or through a modified retrospective basis. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718),” which simplifies several aspects of the accounting for share-based payments, including immediate recognition of all excess tax benefits and deficiencies in the income statement, changing the threshold to qualify for equity classification up to the employees’ maximum statutory tax rates, allowing an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur, and clarifying the classification on the statement of cash flows for the excess tax benefit and employee taxes paid when an employer withholds shares for tax-withholding purposes. ASU 2016-09 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied through the following methods: 1) a modified retrospective transition approach as related to the timing of when tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value, 2) retrospectively as related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds hares to meet the minimum statutory withholding requirement, 3) prospectively as related to the recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term and 4) either prospective transition method or a retrospective transition method as related to the presentation of excess tax benefits on the statement of cash flows. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements.

In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606),” which provided clarification for the identification of performance obligations and licensing but did not change the core principle of the guidance. ASU 2016-10 is effective in conjunction with ASU 2014-09 for annual and interim reporting periods within those years beginning after December 15, 2017. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements.

Other accounting standards updates effective after March 31, 2016 are not expected to have a material effect on our consolidated financial statements.

NOTE 11. Geographic Information

The Company currently operates in one business segment. Fixed assets are principally located in Company or third-party facilities in the United States and Asia. The unaudited net sales by geographical area for the three months ended March 31, 2016 and 2015 were (in thousands):


	For the Three Months Ended
	March 31, 2016		March 31, 2015
Central America	$	3,635	$	3,298
South America		1,618		3,176
Mexico		1,782		3,795
U.S.-based Latin American distributors		1,570		3,262
United States		793		985
Asia Pacific		12		1

Total	$	9,410	$	14,517

NOTE 12. Commitments and Contingencies

Blue Spike Litigation

On October 8, 2013, Blue Spike, LLC (“Blue Spike”) filed a patent infringement lawsuit against the Company in the U.S. District Court for the Eastern District of Texas, alleging that certain of our products infringe claims of U.S. Patent No. 5,745,569. Blue Spike is seeking recovery of unspecified monetary damages. On February 10, 2014 we filed an answer with the Court stating that we do not infringe and setting forth multiple defenses. A scheduling conference was held on July 31, 2015 and a Markman Hearing was held on February 10, 2016. Trial is scheduled for January 23, 2017. On November 19, 2015, Blue Spike filed an additional patent infringement lawsuit against the Company in the U.S. District Court for the Eastern District of Texas, alleging that certain of our products infringe claims of U.S. Patent No. 8,930,719. The Company was served with this lawsuit on February 12, 2016, and it is expected that the two lawsuits will be consolidated into one by the Court. We do not believe we infringe the Blue Spike patents and intend to defend ourselves vigorously. Due to the inherent uncertainty of litigation, we cannot identify probable or estimable damages related to these lawsuits at this time.

Morpho Komodo Litigation

On June 19, 2015, Morpho Komodo LLC (“Morpho Komodo”) filed a patent infringement lawsuit against the Company in the U.S. District Court for the Eastern District of Texas, alleging that certain of our products infringe claims of U.S. Patents No. 7,350,078, No. 7,725,725 and No. 8,429,415. Morpho Komodo is seeking injunctive relief as well as the recovery of unspecified monetary damages. We do not believe we infringe any valid claim of the Morpho Komodo patents and intend to defend ourselves vigorously. On July 21, 2015, we filed an answer with the Court stating that we do not infringe and setting forth multiple defenses, including invalidity of the asserted patents. Due to the inherent uncertainty of litigation, we cannot identify probable or estimable damages related to the lawsuit at this time.

The Company may become involved in certain other legal proceedings and claims which arise in the normal course of business. Other than as described above, as of the filing date of this report, the Company did not have any significant litigation outstanding.

NOTE 13. Fair Value of Financial Instruments

The FASB accounting guidance requires disclosure of fair value information about financial instruments, whether or not recognized in the accompanying consolidated balance sheets. Fair value as defined by the guidance is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value estimates of financial instruments are not necessarily indicative of the amounts we might pay or receive in actual market transactions. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Effective April 1, 2008 the Company adopted and follows ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), which established a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instruments categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The Company’s cash, cash equivalents and forward contracts used to hedge foreign currency risk are measured at fair value in the Company’s consolidated financial statements and are valued using unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs under ASC 820). The carrying amount of our accounts receivable, other accounts receivable, prepaid expenses, accounts payable and other accrued expenses reported in the consolidated balance sheets approximates fair value because of the short maturity of those instruments.

At March 31, 2016 and December 31, 2015, we did not have any material applicable nonrecurring measurements of nonfinancial assets and nonfinancial liabilities.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements, Safe Harbor Statement and Other General Information

This discussion and analysis of financial condition and results of operations should be read in conjunction with the accompanying unaudited consolidated financial statements and condensed notes thereto and other information included in this report and our Annual Report on Form 10-K for the year ended December 31, 2015 (including our 2015 audited consolidated financial statements and related notes thereto and other information). Our discussion and analysis of financial condition and results of operations are based upon, among other things, our unaudited consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The preparation of financial statements in conformity with GAAP requires us to, among other things, make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent liabilities as of the date of our most recent balance sheet, and the reported amounts of revenues and expenses during the reporting periods. We review our estimates and assumptions on an ongoing basis. Our estimates are based on our historical experience and other assumptions that we believe to be reasonable under the circumstances. Actual results are likely to differ from these estimates under different assumptions or conditions, but we do not believe such differences will materially affect our financial position or results of operations, although they may. Our critical accounting policies, the policies we believe are most important to the presentation of our financial statements and require the most difficult, subjective and complex judgments are outlined in “Critical Accounting Policies” in our Annual Report on Form 10-K, as may be updated in our subsequent Quarterly Reports on Form 10-Q. All references to results of operations in this discussion generally are to results from continuing operations, unless otherwise noted.

This report contains “forward-looking statements,” including, without limitation, statements about customer relationships, marketing of our verykool^® products, sales levels, cost reductions, operating efficiencies, currency-related matters, profitability and adequacy of working capital, that are based on, among other things, current management knowledge and expectations and which involve certain risks and uncertainties. These risks and uncertainties, in whole or in part, could cause expectations to fail to be achieved and could have a material adverse effect on our business, financial condition and results of operations, and include, without limitation: (1) intense competition internationally, including competition from alternative business models, such as manufacturer-to-carrier sales, which may lead to reduced prices, lower sales, lower gross margins, extended payment terms with customers, increased capital investment and interest costs, bad debt risks and product supply shortages; (2) our ability to source new verykool^® handsets and successfully introduce them into new markets; (3) our ability to have access to adequate capital to fund operations; (4) our ability to secure adequate supply of competitive products on a timely basis and on commercially reasonable terms; (5) foreign exchange rate fluctuations and/or devaluation of a foreign currency (most notably the Mexican peso) and our ability to effectively hedge for such fluctuations or devaluations, adverse governmental controls or actions, political or economic instability, or disruption of a foreign market, including, without limitation, the imposition, creation, increase or modification of tariffs, taxes, duties, levies and other charges and other related risks of our international operations which could significantly increase selling prices of our products to our customers and end-users and decrease profitability; (6) the ability to attract new sources of profitable business from expansion of products or services or risks associated with entry into new markets or expanding in existing markets, including geographies, products, services and big box retailers; (7) an interruption or failure of our information systems or subversion of access or other system controls, including private information, may result in a significant loss of business, assets, or competitive information; (8) significant changes in supplier terms and relationships or shortages in product supply; (9) loss of business from one or more significant customers; (10) customer and geographical accounts receivable concentration risk and other related risks; (11) rapid product improvement and technological change resulting in inventory obsolescence; (12) extended general economic downturn in world markets; (13) uncertain political and economic conditions internationally, including terrorist or military actions; (14) the loss of a key executive officer or other key employees and the integration of new employees; (15) changes in consumer demand for multimedia wireless handset products and features; (16) our failure to adequately adapt to industry changes and to manage potential growth and/or contractions; (17) seasonal buying patterns; (18) the resolution of any litigation for or against the Company, including regarding patents; and (19) the ability of the Company to generate taxable income in future periods. These forward-looking statements speak only as of the date of this report and we undertake no obligation to publicly update any forward-looking statements to reflect new or changing information, events or circumstances after the date of this release. We have instituted in the past, and continue to institute, changes to our strategies, operations and processes to address risks and uncertainties and to mitigate their impacts on our business, results of operations and financial condition. However, no assurances can be given that we will be successful in these efforts. For a further discussion of significant risk factors to consider, see “Risk Factors” below in this report and in “Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K. In addition, other risks or uncertainties may be detailed from time to time in our future SEC filings.

Overview

We are a provider of wireless handsets, tablets and accessories to carriers, distributors and dealers in Latin America and the United States. We define, source and sell our proprietary line of products under the verykool^® brand (collectively referred to as our “verykool^® products”). We first introduced our verykool^® brand in 2006 and verykool^® products include entry-level, mid-tier and high-end products. We source all our phones from independent design houses and original design manufacturers (“ODMs”). Based on our portfolio requirements, we provide our suppliers with required specifications, and, on selected models, provide the industrial design. We maintain personnel in China to monitor the performance of our suppliers and to conduct a rigorous system of quality control.

Results of Operations

The following table sets forth certain items from our consolidated statements of operations as a percentage of net sales for the periods indicated:


	Three Months Ended March 31,
	2016			2015
Net sales		100.0	%		100.0	%
Cost of sales		87.5	%		82.4	%

Gross profit		12.5	%		17.6	%
Operating expenses		19.7	%		13.1	%

Operating income (loss)		(7.2	%)		4.5	%
Other income (expense), net:
Other		(1.8	%)		—
Interest		(0.6	%)		(0.8	%)

Income (loss) before income taxes		(9.6	%)		3.7	%
Provision for income taxes		(0.0	%)		(0.0	%)

Net income (loss)		(9.6	%)		3.7	%

Three months ended March 31, 2016 compared with three months ended March 31, 2015

Net Sales

For the three months ended March 31, 2016, our net sales amounted to $9,410,000, a decrease of $5,107,000, or 35%, from $14,517,000 in the same period last year. The largest decrease of $3.7 million came from the absence of sales to two carrier customers in South and Central America that we moved away from in the second half of 2015. In addition, sales to big box retail customers in Mexico decreased by $2.0 million, sales to Miami-based distributors selling to Latin American customers declined by $1.7 million and sales to U.S. customers declined by $191,000, compared to the prior year period. These decreases were partially offset by increased sales aggregating $2.5 million to two other carrier customers in South and Central America. In terms of units, we shipped approximately 254,000 units in the first quarter of 2016, a decrease of 44%, compared to the first quarter of 2015. Partially offsetting the unit decline, our average unit selling price increased by 16%, reflecting an improved product mix.

Gross Profit and Gross Margin

For the three months ended March 31, 2016, our gross profit amounted to $1,178,000, a decrease of $1,376,000, or 54%, from $2,554,000 in the same period last year. Our gross profit margin for the three months ended March 31, 2016 was 12.5%, down significantly from 17.6% in the same period last year. These reductions were caused by a combination of pricing pressure in a more competitive market environment and lower margins on sales of end-of-life products in the face of contracting product life cycles.

Operating Expenses

For the three months ended March 31, 2016, total operating expenses amounted to $1,857,000, almost unchanged from $1,896,000 in the same period last year. Decreased sales commissions and marketing expenses were offset by increased legal fees, certification and other general and administrative expenses.

Other Income (Expense)

In the three months ended March 31, 2015, other expense of $165,000 consisted primarily of losses on forward exchange contracts entered into in January 2016 to hedge currency exposure against the Mexican peso. We had no similar activities in the first quarter of 2015. In the three months ended March 31, 2016 and 2015, interest expense of $56,000 and $123,000, respectively, related to borrowings against our bank line of credit and interest bearing vendor credit.

Provision for Income Taxes

Because of our prior operating losses, our tax provisions for the three months ended March 31, 2016 and 2015 were nominal.

Currency Rate Fluctuations

Changes in the relative values of non-U.S. currencies, most importantly the Mexican peso, to the U.S. dollar affect our financial results and financial position. With the exception of Mexico, all other sales are denominated in U.S. dollars. The strength of the U.S. dollar versus the peso has resulted in assets and liabilities denominated in pesos at our Mexican subsidiary being translated into less dollars in our consolidated financial statements. During the period from January 1, 2015 through March 31, 2016, the dollar appreciated 16.9% against the peso. For the three months ended March 31, 2016, we recorded a foreign currency loss of $442,000 in our Consolidated Statement of Comprehensive Loss, and the balance in our accumulated other comprehensive loss account on our Consolidated Balance Sheet at March 31, 2016 was $2,034,000.

Foreign currency fluctuations often drive operational responses that mitigate the simple mechanical translation of earnings. During periods of sustained movements in currency, the marketplace and competition adjust to the changing rates. For example, when pricing our products to the marketplace, we may use some of the advantage from a weakening U.S. dollar to improve our position competitively, and price more aggressively to win the business, essentially passing on a portion of the currency advantage to our customers. Competition will frequently take the same action. Conversely, when the U.S. dollar is stronger, as it currently is, we try to raise prices to mitigate the currency impact, but this may not always be possible in the marketplace and our competitors may not always act in the same way. See Note 9 to our consolidated financial statements in this report for information regarding our foreign exchange hedging facility, which we are using to try to reduce some of our currency risk with peso.

Liquidity and Capital Resources

For a number of years prior to 2014, we relied upon our existing cash reserves to fund our business. During that time, we did not have a bank line of credit and our major manufacturing suppliers did not provide us with any vendor credit; we typically were required to pay 15% deposits at the time we placed an order and the 85% balance prior to shipment. Then, in early 2014, there were two significant events that affected our liquidity. First, our primary product vendors agreed to provide us with vendor credit for the 85% balance payments with 60-day payment terms, provided that we reimburse them for the cost of credit insurance and pay a finance charge. In addition, we entered into a Loan and Security Agreement with our bank for a $2 million revolving line of credit, subject to availability based upon domestic and foreign eligible accounts receivable multiplied by an advance rate of 80% and 70%, respectively. In December 2014, our bank line of credit was expanded to $4 million and was expanded further in August 2015 to $7 million. In addition, our major vendors have expanded the amount of credit they offer to us. At our current level of business, we believe that these resources, combined with our existing working capital, will adequately fund our operations through 2016.

In the three months ended March 31, 2016, our cash balances decreased by $2.2 million compared to December 31, 2015. We used $1.7 million to fund operations, including $1.1 million to reduce accounts payable and accrued expenses, $0.4 million to fund increased inventory, prepaids and other assets and $0.8 million to fund the net loss adjusted for non-cash items. These uses were partially offset by $0.5 million in cash generated from reductions to trade and other accounts receivable.

As of March 31, 2016, we had $438,000 of cash and cash equivalents, $12.6 million of net working capital and no funded debt.

Critical Accounting Policies

There have been no material changes to our critical accounting policies and estimates affecting the application of those accounting policies since our Annual Report on Form 10-K for the year ended December 31, 2015.

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

The primary objective of the following information is to provide forward-looking quantitative and qualitative information about our potential exposure to market risk. The term “market risk” for us refers to the risk of loss arising from adverse changes in interest rates and various foreign currencies. The disclosures are not meant to be precise indicators of expected future losses, but rather indicators of what could cause certain potentially material losses. This forward-looking information provides an overview of how we view and manage ongoing market risk exposures.

Interest Rates

We are exposed to market risk from changes in interest rates on balances outstanding under our bank line of credit. At March 31, 2016, however, we had no amounts outstanding under the line.

We are also exposed to market risk from changes in interest rates on balances owed to certain of our manufacturing vendors. At March 31, 2016, we owed $2.9 million to these vendors which could be affected by changes in short-term interest rates. The interest rates at March 31, 2016 ranged from 4.8% to 6.0%, were negotiated individually with each vendor and were not tied to any particular index. For every 1% increase in the negotiated rate, our interest expense would increase by $29,000, assuming the same $2.9 million remained outstanding for the entire year.

Foreign Exchange and Other Risks

All of our sales transactions are denominated in U.S. dollars with the exception of sales to certain customers in Mexico, which are priced in pesos. At March 31, 2016 and December 31, 2015, foreign currency cash accounts in Mexican pesos amounted to $44,000 and $1,414,000, respectively. Also, at March 31, 2016 and December 31, 2015, accounts receivable denominated in Mexican pesos amounted to $2,234,000 and $3,134,000, respectively. Product costs and the majority of our operating expenses are denominated in U.S. dollars. However, lease expenses and certain other immaterial operating costs of our China quality control team are denominated in Chinese Yuan Renminbi, and payroll and operating expenses of our employees in Mexico are denominated in Mexican pesos. See Note 9 to our consolidated financial statements in this report for information regarding our foreign exchange hedging facility, which we are using to try to reduce some of our currency risk with peso.

Foreign currency risks are associated with our cash, receivables, payroll and payables denominated in foreign currencies. Fluctuations in exchange rates can result in foreign exchange gains and losses on these foreign currency assets and liabilities, which are included in other income (expense) in our consolidated statements of operations. For the three months ended March 31, 2016, losses of $169,000 on foreign exchange forward contracts used to protect against the exchange rate risk of the Mexican Peso are included in other income (expense). Losses during the three months ended March 31, 2015 were nominal. During the three months ended March 31, 2016 and 2015, foreign exchange translation losses from our Mexican subsidiary were $442,000 and $121,000.

As a result of our international sales, our future operating results could also be adversely affected by a variety of factors, including changes in specific countries’ political, economic (including inflationary and deflationary) or regulatory conditions and trade protection measures.

Item 4.

Controls and Procedures

Disclosure Controls

An evaluation was performed pursuant to Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) under the supervision and with the participation of our management, including the President and Chief Executive Officer and the Vice President and Chief Financial Officer, of the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this quarterly report. These disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that this information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Based on the evaluation, the President and Chief Executive Officer and the Vice President and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by this quarterly report.

Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during our first quarter ended March 31, 2016, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1.

Legal Proceedings

Blue Spike Litigation

Morpho Komodo Litigation

Item 1A.

Risk Factors

In addition to the risk factors included below and other information set forth in this report, you should carefully consider the factors discussed in “Part I. Item 1A. Risk Factors” in, as well as other sections of, our Annual Report on Form 10-K for the year ended December 31, 2015, which factors and information could materially affect our business, financial condition or operating results. The risk factors and uncertainties described in our last Annual Report on Form 10-K, and in this report are not the only risks and uncertainties facing our business. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially affect our business, financial condition or operating results. Except as set forth below, we do not believe there have been material changes to the risk factors included in our last Annual Report on Form 10-K.

The loss or reduction in orders from principal customers, a reduction in the prices we are able to charge these customers or default by these customers on accounts receivable could have a negative impact upon our business and financial results.

Our three largest customers in the three months ended March 31, 2016 represented 32%, 14% and 12%, respectively, of our net sales during that period, and 8%, 35% and 18%, respectively, of our accounts receivable at March 31, 2016. The markets we serve and are targeting for future business are subject to significant price competition and other competitive pressures, and our current customers are not contractually obligated to purchase products from us. For these and other reasons, our customers may seek to obtain products or services from us at lower prices than we have been able to charge in the past, and they could terminate our relationship or reduce their purchases from us in favor of lower-priced or other alternatives. In addition, we have experienced losses of certain customers through industry or vendor consolidation, a trend that may increase in our markets and in the ordinary course of business. The further loss of any of our principal customers, the default by these customers on the amounts they owe us, a reduction in the amount of product or services our principal customers order from us or the inability to maintain current terms, including price, with these or other customers could have an adverse effect on our financial condition, results of operations and liquidity.

We reported a net loss for the three months ended March 31, 2016 and for the full year 2015, we were only marginally profitable in the full year 2014 and had a comprehensive loss for 2014 due to foreign currency translation losses, and we experienced net losses for many years prior to that. If we are unable to achieve sustained profitability, our business may not be financially viable.

For the three months ended March 31, 2016, we reported a net loss of $903,000 and a comprehensive loss of $1,345,000. For the full year ended December 31, 2015, we reported a net loss of $1,243,000 and a comprehensive loss of $2,109,000. For the full year ended December 31, 2014, we reported net income of $261,000 and a comprehensive loss of $447,000. Prior to that, we reported seven consecutive loss years with an aggregate net loss of $22.7 million. As of March 31, 2016, our cash balance was $438,000, and we had net working capital of $12.6 million and no outstanding funded debt. While we are working to expand our customer base to regain and maintain profitability, if we do not succeed, our business may not be sustainable in the future.

The majority of our revenues are, and for the near future will likely continue to be, generated outside of the United States, in countries that may have volatile currencies or other risks.

The vast majority of our sales activities are conducted in territories and countries outside of the United States, primarily in Latin America. The majority of our sales transactions in Latin America are denominated in U.S. Dollars and therefore may be impacted by changes in the strength of the U.S. Dollar relative to the foreign economies where we conduct business. Sales transactions in Mexico are denominated in the Mexican Peso, which has been a very volatile currency in relation to the U.S. Dollar and resulted in a $2.0 million accumulated other comprehensive loss on our balance sheet at March 31, 2016. Further, the fact that we sell all of our products into, and have developed and manufactured products in, a number of territories and countries other than the United States exposes us to, among other things, increased credit risks, customs duties, import quotas and other trade restrictions, potentially greater and more unpredictable inflationary and currency pressures, labor risks and shipping delays. Changes may occur in social, political, regulatory (including tax) and economic conditions or in laws and policies governing foreign trade, manufacturing, development and investment in the territories and countries where we currently develop and sell products. United States laws and regulations relating to investment and trade in foreign countries could also change to our detriment. We are particularly exposed to the fact that all our manufacturing sources are in China, which may change its own policies on business and foreign investment in companies there. Any of these factors could have material adverse effects on our business and operations. Also, because we purchase and sell products primarily in U.S. Dollars, fluctuations in currency exchange rates could reduce demand for products sold in U.S. Dollars. We cannot predict the effect that future exchange rate fluctuations will have on our operating results or financial position. Although we periodically engage in currency hedging transactions related to our sales to customers in Mexico, such transactions have in the past, and may in the future, result in significant additional financial risks, including increased costs and losses.

The market for our common stock is volatile and our stock price could decline.

The stock market in general, including the market for telecommunications-related stocks in particular, has been highly volatile. The market price of our common stock has fluctuated between $3.25 and $0.79 from January 1, 2015 through May 3, 2016 and is likely to remain volatile. Investors in our common stock may experience a decrease in the value of their stock, including decreases unrelated to our operating performance or prospects, resulting in a substantial loss on their investment. In addition, an active trading market for our common stock may not be sustained, which could affect the ability of our stockholders to sell their shares and could depress the market price of their shares.

We may be delisted from The NASDAQ Capital Market if we do not satisfy continued listing requirements.

At various times over the last several years we faced potential delisting from The NASDAQ Stock Market for failure to maintain the minimum $1.00 bid price per share requirement for continued listing. On May 3, 2016, we received a Nasdaq Staff Deficiency letter indicating that, for the prior thirty consecutive business days, the bid price for our common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have been provided an initial period of 180 calendar days, or until October 31, 2016, to regain compliance. The letter states that the Nasdaq staff will provide written notification that we have achieved compliance with Rule 5550(a)(2) if at any time before October 31, 2016, the bid price of our common stock closes at $1.00 per share or more for a minimum of ten consecutive business days.

We intend to monitor the bid price of our stock and consider available options if our stock does not trade at a level likely to result in us regaining compliance with Nasdaq’s minimum bid price rule by October 31, 2016. If we do not regain compliance with Rule 5550(a)(2) by October 31, 2016, we may be eligible for an additional 180 calendar day compliance period. To qualify, we would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of our intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq Staff that we will not be able to cure the deficiency, or if we are otherwise not eligible, Nasdaq will notify us that our stock will be subject to delisting. In the event of such a notification, we may appeal the Staff’s determination to delist our stock, but there can be no assurance the Staff would grant our request for continued listing.

If our common stock were delisted from The NASDAQ Capital Market, you may find it difficult to dispose of your shares and our share price may be adversely affected.

If our common stock were to be delisted from The NASDAQ Capital Market, trading of our common stock most likely would be conducted in the over-the-counter market on an electronic bulletin board established for unlisted securities such as OTC Pink, OTCQX, OTCQB or the OTC Bulletin Board. Such trading would reduce the market liquidity of our common stock. As a result, an investor would find it more difficult to dispose of, or obtain accurate quotations for the price of, our common stock, thereby negatively impacting the share price of our common stock.

If our common stock is delisted from The NASDAQ Capital Market and the trading price remains below $5.00 per share, trading in our common stock might also become subject to the requirements of certain rules promulgated under the Exchange Act, which require additional disclosure by broker-dealers in connection with any trade involving a stock defined as a “penny stock” (generally, any equity security not listed on a national securities exchange or quoted on The NASDAQ Stock Market that has a market price of less than $5.00 per share, subject to certain exceptions). Many brokerage firms are reluctant to recommend low-priced stocks to their clients. Moreover, various regulations and policies restrict the ability of stockholders to borrow against or “margin” low-priced stocks, and declines in the stock price below certain levels may trigger unexpected margin calls. Additionally, because brokers’ commissions on low-priced stocks generally represent a higher percentage of the stock price than commissions on higher priced stocks, the current price of the common stock can result in an individual stockholder paying transaction costs that represent a higher percentage of total share value than would be the case if our share price were higher. This factor may also limit the willingness of institutions to purchase our common stock. Finally, the additional burdens imposed upon broker-dealers by these requirements could discourage broker-dealers from facilitating trades in our common stock, which could severely limit the market liquidity of the stock and the ability of investors to trade our common stock, thereby negatively impacting the share price of our common stock.

Item 6.

Exhibits


Exhibit Number		Description of Exhibit

10.1		Employment Agreement effective of April 21, 2016 between InfoSonics and Joseph Ram.

10.2		Employment Agreement effective of April 21, 2016 between InfoSonics and Vernon A. LoForti.

31.1		Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer.

31.2		Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.

32.1		Section 1350 Certification of Chief Executive Officer and Chief Financial Officer.

101.INS		XBRL Instance Document.

101.SCH		XBRL Taxonomy Extension Schema Document.

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF		XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB		XBRL Taxonomy Extension Label Linkbase Document.

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	InfoSonics Corporation

Date: May 6, 2016	By:	/S/ JOSEPH RAM
		Joseph Ram
		President and Chief Executive Officer

Date: May 6, 2016	By:	/S/ VERNON A. LOFORTI
		Vernon A. LoForti
		Vice President and Chief Financial Officer

EX-10.1 2 d179864dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

EMPLOYMENT AGREEMENT

This Employment Agreement (the “Agreement”) is entered into effective April 21, 2016 (the “Effective Date”) by and between InfoSonics Corporation, a Maryland corporation (the “Company”), and Joseph Ram (“Employee”) as an extension, amendment and restatement of the agreement between the Company and Employee entered into as of April 9, 2012. Employee and Company are sometimes referred to individually as a “Party” and collectively as the “Parties.”

In consideration of the mutual covenants, promises and agreements herein contained, the Company and Employee hereby covenant, promise and agree to and with each other as follows:

1. Employment. The Company shall employ Employee and Employee shall perform services for and on behalf of the Company upon the terms and conditions set forth in this Agreement.

2. Positions and Duties of Employment. Employee shall be required to devote his full energy, skill and best efforts as required to the furtherance of his managerial duties with the Company as the Company’s Chief Executive Officer. While serving in such capacity(ies), Employee shall have the responsibilities, duties, obligations, rights, benefits and requisite authority as is customary for his position and as may be determined by the Board of Directors of the Company (the “Board”).

Employee understands that his employment as Chief Executive Officer of the Company involves a high degree of trust and confidence, that he is employed for the purpose of furthering the Company’s reputation and improving the Company’s operations and profitability, and that in executing this Agreement he undertakes the obligations set forth herein to accomplish such objectives. Employee agrees that he shall serve the Company fully, diligently, competently, and to the best of his ability. Employee certifies that he fully understands his right to discuss this Agreement with his attorney, that he has availed himself of this right to the extent that he desires, that he has carefully read and fully understands this entire Agreement, and that he is voluntarily entering into this Agreement.

3. Duties. Employee shall perform the following services for the Company:

3.1 Employee shall serve as Chief Executive Officer of the Company, or in such other position as determined by the Board, and in that capacity shall work with the Company to pursue the Company’s plans as directed by the Board.

3.2 Employee shall perform duties with the functions of a Chief Executive Officer, subject to the direction of the Board.

3.3 During the term of this Agreement, Employee shall devote substantially all of Employee’s business time to the performance of Employee’s duties under this Agreement. Without limiting the foregoing, Employee shall perform services on behalf of the Company for at least 40 hours per week, and Employee shall be available at the request of the Company at other times, including weekends and holidays, to meet the needs and requests of the Company’s customers.

3.4 During the term of this Agreement, Employee will not engage in any other activities or undertake any other commitments that conflict with or take priority over Employee’s responsibilities and obligations to the Company and the Company’s customers, including without limitation those responsibilities and obligations incurred pursuant to this Agreement.

4. Term. Unless terminated earlier as provided for in this Agreement, the term of this Agreement shall be for four years, commencing on April 9, 2016 and ending on April 8, 2020 (the “Term”). If the employment relationship is terminated by either Party, Employee agrees to cooperate with the Company and with the Company’s new management with respect to the transition of the new management in the operations previously performed by Employee. Upon Employee’s termination, Employee agrees to return to the Company all Company documents (and all copies thereof), any other Company property in Employee’s possession or control, and any materials of any kind that contain or embody any proprietary or confidential material of the Company.

5. Compensation. Employee shall receive the following as compensation:

(a) A base salary at an annual rate of $365,000, subject to periodic review by the Board or the Compensation Committee of the Board, payable in accordance with the Company’s customary payroll practices.

(b) At the discretion of the Board or the Compensation Committee of the Board, an annual performance-based bonus based on, but not limited to, the following criteria:

•

Company profitability after deduction of the bonus

•

Company market capitalization

•

Other individual performance objectives

(c) Company shall include Employee, if otherwise eligible, in any profit sharing plan, executive stock option plan, pension plan, retirement plan, medical and/or hospitalization plan, and/or any and all other benefit plans which may be placed in effect by Company for the benefit of Company’s executives during the Term. Except for the fact that Company at all times shall provide Employee with all or at least a portion of Employee’s medical and/or hospitalization insurance, which shall not be less than that afforded to Company’s other executives, nothing in this Agreement shall limit (i) Company’s ability to exercise the discretion provided to it under any such benefit plan, or (ii) Company’s discretion to adopt, not adopt, amend or terminate any such benefit plan at any time.

(d) The Company shall provide Employee with four weeks vacation leave per each year of Employee’s employment (which vacation leave may carry over and accrue up to an aggregate of twelve weeks at any time), sick leave, medical and dental insurance coverage, and any other benefits consistent with Company plans and policies in effect for executive Employees from time to time. The Company may modify in its sole and absolute discretion such benefits from time to time as it considers necessary or appropriate, provided that any such modification shall not affect or modify Employee’s then existing rights with respect to any previously accrued vacation.

(e) Any payments which the Company shall make to Employee pursuant to this Agreement shall be reduced by standard withholding and other applicable payroll deductions, including but not limited to federal, state or local income or other taxes, Social Security and Medicare Taxes, State Unemployment Insurance, State Disability Insurance, and the like.

(f) During the term of his employment, Employee shall be reimbursed for reasonable expenses that are authorized by the Company and that are incurred by Employee for the benefit of the Company in accordance with the standard reimbursement practices of the Company; provided, however, that, with respect to reimbursements, if any, not otherwise excludible from the Employee’s gross income, to the extent required to comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), no reimbursement of expenses incurred by the Employee during any taxable year shall be made after the last day of the following taxable year, and the right to reimbursement of such expenses shall not be subject to liquidation or exchange for another benefit. Any direct payment or reimbursement of expenses shall be made only upon presentation of an itemized accounting conforming in form and content to standards prescribed by the Internal Revenue Service relative to the substantiation of the deductibility of business expenses.

6. Confidentiality. Employee hereby warrants, covenants and agrees that, without the prior express written approval of Company or unless required by law or court order, Employee shall hold in the strictest confidence, and shall not disclose to any person, firm, corporation or other entity, any and all of Company’s data, including but not limited to (a) information, drawings, sketches, plans or other documents concerning Company’s business or development plans, customers or suppliers, (b) Company’s development, design, construction or sales and marketing methods or techniques, or (c) Company’s trade secrets and other “know-how” or information not of a public nature, regardless of how such information came to the custody of Employee. For purposes of this Agreement, such information shall include, but not be limited to, information, including a formula, pattern, compilation, program, device, method, technique or process, that (i) derives independent economic value, present or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. The warranty, covenant and agreement set forth in this paragraph shall not expire, shall survive this Agreement, and shall be binding upon Employee without regard to the passage of time or other events.

7. Non-Compete. Employee acknowledges and recognizes the highly competitive nature of the Company’s business and that Employee’s duties hereunder justify restricting Employee’s further employment following any termination of employment. The Employee agrees that so long as the Employee is employed by the Company, and (i) for a period of two years following the termination of this Agreement, Employee, except when acting at the request of the Company on behalf of or for the benefit of the Company, will not induce customers, agents or other sources of distribution of the Company’s business under contract or doing business with the Company to terminate, reduce, alter or divert business with or from the Company, and (ii) for a period of one year following the termination of this Agreement, Employee shall not, directly or indirectly, either as a principal, agent, employee, employer, consultant, partner, member or manager of a limited liability company, shareholder of a company that does not have securities registered under the Securities Exchange Act of 1934 (the “1934 Act”), or shareholder in excess of one percent of a company that has securities registered under the 1934 Act, corporate officer or director, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is in competition in any manner whatsoever with the business activities of Company, in or about any market in which Company has, or has publicly announced a plan for doing business. Employee further covenants and agrees that the restrictive covenant set forth in this paragraph is reasonable as to duration, terms, and geographical area and that the same protects the legitimate interests of Company, imposes no undue hardship on Employee, and is not injurious to the public. The covenant set forth under (ii) above shall not apply if Employee’s employment is terminated within twelve months of a Change in Control as defined in of this Agreement. Ownership by Employee, for investment purposes only, of less than one percent of any class of securities of a corporation if said securities are listed on a national securities exchange or registered under the 1934 Act shall not constitute a breach of the covenant set forth under (ii) above. It is the desire and intent of the Parties that the provisions of this paragraph be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular portion of paragraph shall be adjudicated to be invalid or unenforceable, this paragraph shall be deemed amended to apply in the broadest allowable manner and to delete therefrom the portion adjudicated to be invalid or unenforceable, such amendment and deletion to apply only with respect to the operation of paragraph in the particular jurisdiction in which that adjudication is made.

8. Termination.

(a)

If Employee’s employment is terminated by the Company without Cause (as defined below), or if Employee terminates his employment for Reasonable Basis (as defined below), then the Company shall, in exchange for Employee’s execution within 45 days of the termination date of a general release and waiver of claims against the Company as of the termination date in a form reasonably acceptable to the Company and does not revoke such general release and waiver within seven days after its execution, continue to pay as severance Employee’s base salary for 18 months or one-half the remaining term of the Agreement, whichever is greater. Such payments shall be made in accordance with the Company’s customary payroll practices and shall be subject to applicable withholding and payroll deductions and to the extent required by Section 409A of the Code, if the period to execute the general release and waiver and not revoke such release and waiver spans two calendar years, the payment of severance shall commence in the second calendar year with a lump sum payment on the earliest permissible payment date of such severance amounts which absent the requirement of a general release and waiver would have been paid prior to such payment date. Each such payment shall be treated as a separate payment for purposes of Section 409A of the Code. In the event of any such termination set forth in this section 8(a), Employee will not be entitled to any additional compensation or benefits beyond what is provided in the first sentence of this section 8(a).

(i) For purposes of this Agreement, “Cause” shall mean that the Board, acting in good faith based upon the information then known to the Company, determines that Employee has engaged in or committed any of the following: willful misconduct, gross negligence, theft, fraud, or other illegal conduct; refusal or unwillingness to perform Employee’s duties; performance by Employee of Employee’s duties determined by the Board to be inadequate in a material respect; breach of any applicable non-competition, confidentiality or other proprietary information or inventions agreement between Employee and the Company; inappropriate conflict of interest; insubordination; failure to follow the directions of the Board or any committee thereof; or any other material breach of this Agreement. Indictment or conviction of any felony, or any entry of a plea of nolo contendre, under the laws of the United States or any State shall also be considered “Cause” hereunder. “Cause” shall be specified in a notice of termination to be delivered by the Company no later than the date as of which termination is effective.

(ii) For purposes of this Agreement, “Reasonable Basis” shall mean (A) a material breach of this Agreement by the Company, provided that Employee shall have first given written notice of such default to the Company and if within thirty days after receipt of such notice, the Company has not cured such default; or (B) termination of Employee’s employment by the Company without Cause during the term hereof; or (C) a reduction in Employee’s salary except to the extent that a majority of the other executive officers of the Company incur reductions of salary that average no less than the percentage reduction incurred by Employee; or (D) termination of the Employee’s employment by the Employee within 12 months after a “Change Of Control,” with Change Of Control being defined as follows:

“Change in Control” shall mean any of the following:

(1) any consolidation or merger of Company in which Company is not the continuing or surviving corporation, other than a merger of Company in which the holders of Company common stock immediately prior to the merger own a majority of the voting common stock of the surviving corporation immediately after the merger;

(2) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of Company;

(3) any approval by the stockholders of Company of any plan or proposal for the liquidation or dissolution of Company;

(4) the acquisition by any person or entity, or any group of persons and/or entities of a majority of the stock entitled to elect a majority of the directors of the Company; or

(5) subject to applicable law, in a Chapter 11 bankruptcy proceeding, the appointment of a trustee or the conversion of a case involving Company to a case under a Chapter 7 bankruptcy proceeding.

(b) In the event that Employee’s employment with the Company is terminated for Cause, by reason of Employee’s death or disability, or due to Employee’s resignation or voluntary termination (other than for Reasonable Basis), then all compensation and benefits will cease as of the effective date of such termination, and Employee shall receive no severance benefits, or any other compensation; provided that Employee shall be entitled to receive all compensation earned and all benefits and reimbursements due through the effective date of termination.

(c) Employee agrees that the payments contemplated by this Agreement shall constitute the exclusive and sole remedy for any termination of employment, and Employee covenants not to assert or pursue any other remedies, at law or in equity, with respect to any termination of employment.

(d) Any party terminating this Agreement shall give prompt written notice (“Notice of Termination”) to the other party hereto advising such other party of the termination of this Agreement stating in reasonable detail the basis for such termination. The Notice of Termination shall indicate whether termination is being made for Cause (if Company has terminated the Agreement) or for Reasonable Basis (if the Employee has terminated the Agreement).

(e) Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and operated to the extent possible so that the payments set forth herein either shall be exempt from the requirements of Section 409A of the Code or shall comply with the requirements of such provision; provided however that in no event shall the Company be liable to the Employee for or with respect to any taxes, penalties or interest which may be imposed upon the Employee pursuant to Section 409A. To the extent that any amount payable pursuant to this Agreement constitutes a “deferral of compensation” subject to Section 409A (a “409A Payment”), then, if on the date of the Employee’s “separation from service,” as such term is defined in Treas. Reg. Section 1.409A-1(h)(1), from the Company (his “Separation from Service”), the Employee is a “specified employee,” as such term is defined in Treas. Reg. Section 1.409-1(i), as determined from time to time by the Company, then such 409A Payment shall not be made to the Employee earlier than the earlier of (i) six (6) months after the Employee’s Separation from Service; or (ii) the date of his death. The 409A Payments under this Agreement that would otherwise be made during such period shall be aggregated and paid in one lump sum, without interest, on the first business day following the end of the six (6) month period or following the date of the Employee’s death, whichever is earlier, and the balance of the 409A Payments, if any, shall be paid in accordance with the applicable payment schedule provided in this Section 8. The Employee hereby acknowledges that he has been advised to seek and has sought the advice of a tax advisor with respect to the tax consequences to the Employee of all payments pursuant to this Agreement, including any adverse tax consequences or penalty taxes under Code Section 409A and applicable State tax law. Employee hereby agrees to bear the entire risk of any such adverse federal and State tax consequences and penalty taxes in the event any payment pursuant to this Agreement is deemed to be subject to Code Section 409A, and that no representations have been made to the Employee relating to the tax treatment of any payment pursuant to this Agreement under Code Section 409A and the corresponding provisions of any applicable State income tax laws. If payments under this Section 8 constitute 409A Payments, references within this Section 8 to termination of employment shall mean Employee’s “separation from service” as defined in Treas. Reg. Section 1.409A-1(h), including the default presumptions thereunder.

9. Remedies. If there is a breach or threatened breach of any provision of Section 6 or Section 7 of this Agreement, the Company will suffer irreparable harm and shall be entitled to an injunction restraining Employee from such breach. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies for such breach or threatened breach.

10. Severability. It is the clear intention of the Parties to this Agreement that no term, provision or clause of this Agreement shall be deemed to be invalid, illegal or unenforceable in any respect, unless such term, provision or clause cannot be otherwise construed, interpreted, or modified to give effect to the intent of the Parties and to be valid, legal or enforceable. The Parties specifically charge the trier of fact to give effect to the intent of the Parties, even if in doing so, information of a specific provision of this Agreement is required consistent with the foregoing stated intent. In the event that such a term, provision, or clause cannot be so construed, interpreted or modified, the validity, legality and enforceability of the remaining provisions contained herein and other application(s) thereof shall not in any way be affected or impaired thereby and shall remain in full force and effect.

11. Waiver of Breach. The waiver by the Company or Employee of the breach of any provision of this Agreement by the other Party shall not operate or be construed as a waiver of any subsequent breach by that Party.

12. Entire Agreement. This document contains the entire agreement between the Parties and supersedes all prior oral or written agreements, if any, concerning the subject matter hereof or otherwise concerning Employee’s employment by Company (except for options to purchase shares of Company’s stock previously granted to Employee). This Agreement may not be changed orally, but only by agreement in writing signed by the Parties.

13. Governing Law. This Agreement, its validity, interpretation and enforcement, shall be governed by the laws of the State of California, excluding conflict of laws principles. Employee hereby expressly consents to personal jurisdiction in the state and federal courts located in San Diego, California for any lawsuit filed there against him by the Company arising from or relating to this Agreement.

14. Notices. Any notice pursuant to this Agreement shall be validly given or served if that notice is made in writing and delivered personally or sent by certified mail or registered, return receipt requested, postage prepaid, to the following addresses:


If to Company:		InfoSonics Corporation 3636 Nobel Drive, Suite 325, San Diego, CA 92122 Attention: Chairperson, Compensation Committee

If to Employee:		InfoSonics Corporation 3636 Nobel Drive, Suite 325, San Diego, CA 92122, and after termination of employment, to the last home address in the Company’s records.

All notices so given shall be deemed effective upon personal delivery or, if sent by certified or registered mail, five business days after date of mailing. Either party, by notice so given, may change the address to which his or its future notices shall be sent.

15. Assignment and Binding Effect. This Agreement shall be binding upon Employee and the Company and shall benefit the Company and its successors and assigns. This Agreement shall not be assignable by Employee.

16. Headings. The headings in this Agreement are for convenience only; they form no part of this Agreement and shall not affect its interpretation.

17. Construction. Employee represents he has (a) read and completely understands this Agreement and (b) had an opportunity to consult with such legal and other advisers as he has desired in connection with this Agreement. This Agreement shall not be construed against any one of the Parties.

18. Insurance. The company is to maintain directors’ and officers’ insurance in an amount determined reasonably by the Board of Directors of the Company.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year first above written.

EX-10.2 3 d179864dex102.htm EX-10.2 EX-10.2

Exhibit 10.2

EMPLOYMENT AGREEMENT

This Employment Agreement (the “Agreement”) is entered into effective as of April 21, 2016 (the “Effective Date”) by and between InfoSonics Corporation, a Maryland corporation (the “Company”), and Vernon A. LoForti (“Employee”) as an extension, amendment and restatement of the agreement between the Company and Employee entered into as of April 9, 2014. Employee and Company are sometimes referred to individually as a “Party” and collectively as the “Parties.”

In consideration of the mutual covenants, promises and agreements herein contained, the Company and Employee hereby covenant, promise and agree to and with each other as follows:

1. Employment. The Company shall employ Employee and Employee shall perform services for and on behalf of the Company upon the terms and conditions set forth in this Agreement.

2. Positions and Duties of Employment. Employee shall be required to devote his full energy, skill and best efforts as required to the furtherance of his managerial duties with the Company as the Company’s Vice President, Chief Financial Officer (“CFO”) and Secretary. While serving in such capacity(ies), Employee shall have the responsibilities, duties, obligations, rights, benefits and requisite authority as is customary for his position and as may be determined by the Company’s Chief Executive Officer (“CEO”) and the Board of Directors of the Company (the “Board”).

Employee understands that his employment as Vice President, CFO and Secretary of the Company involves a high degree of trust and confidence, that he is employed for the purpose of protecting the Company’s financial assets and ensuring the integrity of the Company’s financial reporting to the Board, the Securities and Exchange Commission and the investing public, and that in executing this Agreement he undertakes the obligations set forth herein to accomplish such objectives. Employee agrees that he shall serve the Company fully, diligently, competently, and to the best of his ability. Employee certifies that he fully understands his right to discuss this Agreement with his attorney, that he has availed himself of this right to the extent that he desires, that he has carefully read and fully understands this entire Agreement, and that he is voluntarily entering into this Agreement.

3. Duties. Employee shall perform the following services for the Company:

3.1 Employee shall serve as Vice President, CFO and Secretary of the Company, or in such other position as determined by the CEO and the Board, and in that capacity shall work with the Company to pursue the Company’s plans as directed by the CEO and the Board.

3.2 Employee shall perform such duties that are normally associated with the positions of Vice President, CFO and Secretary consistent with the bylaws of the Company and such other duties as may be requested by the CEO and the Board.

3.4 During the term of this Agreement, Employee will not engage in any other activities or undertake any other commitments that conflict with or take priority over Employee’s responsibilities and obligations to the Company, including without limitation those responsibilities and obligations incurred pursuant to this Agreement.

3.5 Notwithstanding the restrictions set forth in this Section 3, Employee is permitted to participate in any capacity with any civic, nonprofit, religious, welfare, social or professional organization that will not materially affect Employee’s performance of duties hereunder.

4. Term. Unless terminated earlier as provided for in this Agreement, the term of this Agreement shall be for two years, commencing on April 9, 2016 and ending on April 8, 2018 (the “Term”). If the employment relationship is terminated by either Party, Employee agrees to cooperate with the Company and with the Company’s new management with respect to the transition of the new management in the functions previously performed by Employee. Upon Employee’s termination, Employee agrees to return to the Company all Company documents (and all copies thereof), any other Company property in Employee’s possession or control, and any materials of any kind that contain or embody any proprietary or confidential material of the Company.

5. Compensation. Employee shall receive the following as compensation:

(a) A base salary at an annual rate of $205,000 (“Base Salary”), subject to periodic review by the Board or the Compensation Committee of the Board, payable in accordance with the Company’s customary payroll practices.

(b) At the discretion of the Board or the Compensation Committee of the Board, an annual performance-based bonus of up to 35% of Employee’s Base Salary set forth in Section 5(a) based on, but not limited to, the following criteria:

•

Overall Company profitability

•

Maintaining a fully competent accounting team

•

Producing timely monthly consolidated balance sheet and income statements

•

Streamlining financial and other operating systems to yield cost savings.

(d) The Company shall provide Employee with four (4) weeks of vacation leave per each year of Employee’s employment (which vacation leave may carry over and accrue up to an aggregate of 30 days at any time), sick leave, medical and dental insurance coverage, and any other benefits consistent with Company plans and policies in effect for executive Employees from time to time. The Company may modify in its sole and absolute discretion such benefits from time to time as it considers necessary or appropriate, provided that any such modification shall not affect or modify Employee’s then existing rights with respect to any previously accrued vacation.

7. Termination.

(a)

If Employee’s employment is terminated by the Company without Cause (as defined below), or if Employee terminates his employment for Reasonable Basis (as defined below), then the Company shall, in exchange for Employee’s execution within 45 days of the termination date of a general release and waiver of claims against the Company as of the termination date in a form reasonably acceptable to the Company and does not revoke such general release and waiver within seven days after its execution, continue to pay as severance Employee’s salary for nine (9) months. Such payments shall be made in accordance with the Company’s customary payroll practices and shall be subject to applicable withholding and payroll deductions and to the extent required by Section 409A of the Code, if the period to execute the general release and waiver and not revoke such release and waiver spans two calendar years, the payment of severance shall commence in the second calendar year with a lump sum payment on the earliest permissible payment date of such severance amounts which absent the requirement of a general release and waiver would have been paid prior to such payment date. Each such payment shall be treated as a separate payment for purposes of Section 409A of the Code. In the event of any such termination set forth in this section 7(a), Employee will not be entitled to any additional compensation or benefits beyond what is provided in the first sentence of this section 7(a).

(i) For purposes of this Agreement, “Cause” shall mean that the Board, acting in good faith based upon the information then known to the Company, determines that Employee has engaged in or committed any of the following: willful misconduct, gross negligence, theft, fraud, or other illegal conduct; refusal or unwillingness to perform Employee’s duties; performance by Employee of Employee’s duties determined by the Board to be inadequate in a material respect; breach of any applicable non-competition, confidentiality or other proprietary information or inventions agreement between Employee and the Company; inappropriate conflict of interest; insubordination; failure to follow the directions of the CEO, the Board or any committee thereof; or any other material breach of this Agreement. Indictment or conviction of any felony, or any entry of a plea of nolo contendre, under the laws of the United States or any State shall also be considered “Cause” hereunder. “Cause” shall be specified in a notice of termination to be delivered by the Company no later than the date as of which termination is effective.

(ii) For purposes of this Agreement, “Reasonable Basis” shall mean (A) a material breach of this Agreement by the Company, provided that Employee shall have first given written notice of such default to the Company within 90 days after its first occurrence and if within thirty days after receipt of such notice, the Company has not cured such default; or (B) termination of Employee’s employment by the Company without Cause during the term hereof; or (C) a reduction in Employee’s salary except to the extent that a majority of the other executive officers of the Company incur reductions of salary that average no less than the percentage reduction incurred by Employee, provided that Employee shall have first given written notice of such default to the Company within 90 days after such reduction and if within thirty days after receipt of such notice, the Company has not cured such reduction.

8. Remedies. If there is a breach or threatened breach of any provision of Section 6 of this Agreement, the Company will suffer irreparable harm and shall be entitled to an injunction restraining Employee from such breach. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies for such breach or threatened breach.

9. Severability. It is the clear intention of the Parties to this Agreement that no term, provision or clause of this Agreement shall be deemed to be invalid, illegal or unenforceable in any respect, unless such term, provision or clause cannot be otherwise construed, interpreted, or modified to give effect to the intent of the Parties and to be valid, legal or enforceable. The Parties specifically charge the trier of fact to give effect to the intent of the Parties, even if in doing so, information of a specific provision of this Agreement is required consistent with the foregoing stated intent. In the event that such a term, provision, or clause cannot be so construed, interpreted or modified, the validity, legality and enforceability of the remaining provisions contained herein and other application(s) thereof shall not in any way be affected or impaired thereby and shall remain in full force and effect.

10. Waiver of Breach. The waiver by the Company or Employee of the breach of any provision of this Agreement by the other Party shall not operate or be construed as a waiver of any subsequent breach by that Party.

11. Entire Agreement. This document contains the entire agreement between the Parties and supersedes all prior oral or written agreements, if any, concerning the subject matter hereof or otherwise concerning Employee’s employment by Company (except for options to purchase shares of Company’s stock previously granted to Employee). This Agreement may not be changed orally, but only by agreement in writing signed by the Parties.

12. Governing Law. This Agreement, its validity, interpretation and enforcement, shall be governed by the laws of the State of California, excluding conflict of laws principles. Employee hereby expressly consents to personal jurisdiction in the state and federal courts located in San Diego, California for any lawsuit filed there against him by the Company arising from or relating to this Agreement.

13. Notices. Any notice pursuant to this Agreement shall be validly given or served if that notice is made in writing and delivered personally or sent by certified mail or registered, return receipt requested, postage prepaid, to the following addresses:


If to Company:		InfoSonics Corporation 3636 Nobel Drive, Suite 325 San Diego, CA 92122 Attention: CEO

If to Employee:		InfoSonics Corporation 3636 Nobel Drive, Suite 325 San Diego, CA 92122, and after termination of employment, to the last home address in the Company’s records

14. Assignment and Binding Effect. This Agreement shall be binding upon Employee and the Company and shall benefit the Company and its successors and assigns. This Agreement shall not be assignable by Employee.

15. Headings. The headings in this Agreement are for convenience only; they form no part of this Agreement and shall not affect its interpretation.

16. Construction. Employee represents he has (a) read and completely understands this Agreement and (b) had an opportunity to consult with such legal and other advisers as he has desired in connection with this Agreement. This Agreement shall not be construed against any one of the Parties.

17. Insurance. The company is to maintain directors’ and officers’ insurance in an amount determined reasonably by the Board of Directors of the Company.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year first above written.

EX-31.1 4 d179864dex311.htm EX-31.1 EX-31.1

Exhibit 31.1

CERTIFICATION

I, Joseph Ram, certify that:

I have reviewed this Quarterly Report on Form 10-Q of InfoSonics Corporation;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date: May 6, 2016						/s/ Joseph Ram
						Joseph Ram, President and Chief Executive Officer

EX-31.2 5 d179864dex312.htm EX-31.2 EX-31.2

Exhibit 31.2

CERTIFICATION

I, Vernon A. LoForti, certify that:

I have reviewed this Quarterly Report on Form 10-Q of InfoSonics Corporation;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 6, 2016

/s/ Vernon A. LoForti

Vernon A. LoForti, Vice President and

Chief Financial Officer

EX-32.1 6 d179864dex321.htm EX-32.1 EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the filing of the Quarterly Report on Form 10-Q (the “Report”) of InfoSonics Corporation (the “Company”) for the quarterly period ended March 31, 2016, each of the undersigned in his capacity as an officer of the Company hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 6, 2016

/s/ Joseph Ram

Joseph Ram, President and Chief Executive Officer

Date: May 6, 2016

/s/ Vernon A. LoForti

Vernon A. LoForti, Vice President and Chief

Financial Officer

EX-101.INS 7 ifon-20160331.xml XBRL INSTANCE DOCUMENT

7000000

14388728

2000000

0.70 0.80

2848000

876000

1257000

40000000

1.04

381000

1.17

14389000

1.01

0.001

10000000

14389000

0.001

1190000

0.82

333000

814000

12972000

302000

32936000

208000

3521000

95000

2154000

-17944000

18647000

14000

101000

409000

5675000

-2034000

153000

341000

18647000

6930000

82000

8756000

191000

18303000

7263000

2097000

438000

600000

263000 466000 1 1196000

7000000

164000

58000

378000

263000

942000

315000

899000

1464000

1257000

40000000

1.04

450000

1.16

14389000

0.001

10000000

14389000

0.001

276000

985000

14240000

567000

32859000

217000

4398000

95000

2343000

-17041000

20981000

14000

109000

388000

6741000

-1592000

129000

20981000

6637000

96000

9291000

156000

20696000

6913000

2025000

2647000

544000

465000 1232000

164000

58000

322000

0.0353

0.045

P4Y6M4D

0.04

1492000

14755000

14362000

0.04

3000

15000

532000

14517000

-123000

658000

1960000

25000

2554000

-1152000

-818000

411000

115000

3091000

535000

3000

51000

3091000

1384000

1896000

16000

51000

-52000

16000

-121000

1036000

-3000

22000

11963000

121000

-67000

17000

23000

11000

3176000

1000

3795000

985000

3298000

3262000

-0.06

2016

false

10-Q 0001274032

P4Y3M4D

Smaller Reporting Company

69000

<div> NOTE 7. Accrued Expenses As of March 31, 2016 and December 31, 2015, accrued expenses consisted of the following (in thousands):   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="74%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">March 31, 2016 (unaudited)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">December 31, 2015 (audited)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Accrued product costs </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">466</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">465</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Accrued coop advertising </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">302</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">567</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Accrued vacation pay </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">208</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">217</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Income taxes payable </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">101</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">109</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Foreign currency forward exchange contracts </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">263</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Other accruals </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">814</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">985</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,154</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,343</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The unaudited net sales by geographical area for the three months ended March 31, 2016 and 2015 were (in thousands): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="69%"></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" align="center"> For the Three Months Ended</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">March 31, 2016</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">March 31, 2015</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Central America </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,635</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,298</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> South America </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,618</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,176</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Mexico </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,782</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,795</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> U.S.-based Latin American distributors </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,570</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,262</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> United States </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">793</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">985</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Asia Pacific </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,410</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">14,517</td> <td valign="bottom" nowrap="nowrap"> </td> </tr> </table> </div>

P3Y4M13D

<div> As of March 31, 2016 and December 31, 2015, accrued expenses consisted of the following (in thousands):   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="74%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">March 31, 2016 (unaudited)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">December 31, 2015 (audited)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Accrued product costs </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">466</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">465</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Accrued coop advertising </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">302</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">567</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Accrued vacation pay </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">208</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">217</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Income taxes payable </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">101</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">109</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Foreign currency forward exchange contracts </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">263</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Other accruals </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">814</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">985</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,154</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,343</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Property and equipment are primarily located in the United States and China and consisted of the following as of the dates presented (in thousands): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="74%"></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">March 31, 2016 (unaudited)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">December 31, 2015 (audited)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Machinery and equipment </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">378</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">322</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Tooling and molds </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">58</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">58</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Furniture and fixtures </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">164</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">164</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Subtotal </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">600</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">544</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Less accumulated depreciation </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(409</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(388</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">191</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">156</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

--12-31

-1711000

INFOSONICS CORP

14389000

<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> A summary of option activity under both the 2006 Plan and the 2015 Plan as of March 31, 2016 and changes during the three months then ended is presented in the table below (shares in thousands): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0"> <tr> <td width="69%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Shares</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Wtd. Avg. Exercise Price</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Wtd. Avg. Remaining Contractual Life in Years</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Outstanding at December 31, 2015 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,257</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.04</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.51</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Granted </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Exercised </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Forfeited </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Outstanding at March 31, 2016 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,257</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.04</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.26</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Vested and expected to vest </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,190</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.01</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.17</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Exercisable at March 31, 2016 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">876</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.82</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.37</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> </table> </div>

1.07

14389000

2016-03-31

<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> NOTE 2. Stock-Based Compensation <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company has two stock-based compensation plans: the 2006 Equity Incentive Plan (“2006 Plan”) and the 2015 Equity Incentive Plan (“2015 Plan”), both of which were approved by our stockholders. As of March 31, 2016, options to purchase 942,000 and 315,000 shares were outstanding under the 2006 Plan and the 2015 Plan, respectively, and a total of 899,000 shares were available for grant under the 2015 Plan. No options are available for grant under the 2006 Plan. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company’s stock options vest on an annual or a monthly basis. Stock options generally are exercisable for up to seven years after grant, subject to continued employment or service. The Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period of the award, which is generally the option vesting term. Such amount may change as a result of additional grants, forfeitures, modifications in assumptions and other factors. Income tax effects of share-based payments are recognized in the financial statements for those awards which will normally result in tax deductions under existing tax law. During the three months ended March 31, 2016 and 2015, we recorded an expense of $77,000 and $51,000, respectively, related to options previously granted. Under current U.S. federal tax law, we receive a compensation expense deduction related to non-qualified stock options only when those options are exercised and vested shares are received. Accordingly, the financial statement recognition of compensation expense for non-qualified stock options creates a deductible temporary difference that results in a deferred tax asset and a corresponding deferred tax benefit in our consolidated statements of operations. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> During the three months ended March 31, 2016 and 2015, the Company did not grant any stock options. As of March 31, 2016, there was $341,000 of total unrecognized compensation expense related to non-vested stock options. That expense is expected to be recognized over the remaining weighted-average period of 1.51 years. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> A summary of option activity under both the 2006 Plan and the 2015 Plan as of March 31, 2016 and changes during the three months then ended is presented in the table below (shares in thousands): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0"> <tr> <td width="69%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Shares</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Wtd. Avg. Exercise Price</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Wtd. Avg. Remaining Contractual Life in Years</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Outstanding at December 31, 2015 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,257</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.04</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.51</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Granted </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Exercised </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Forfeited </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Outstanding at March 31, 2016 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,257</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.04</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.26</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Vested and expected to vest </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,190</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.01</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.17</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Exercisable at March 31, 2016 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">876</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.82</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.37</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> A summary of the status of the Company’s non-vested options at March 31, 2016 and changes during the three months then ended is presented below (shares in thousands): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="72%"></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Shares</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Weighted-average grant-date fair value</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Non-vested at December 31, 2015 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">450</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.16</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Granted </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Vested </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(69</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.07</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Forfeited </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap"> </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Non-vested at March 31, 2016 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">381</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.17</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company’s share-based compensation is classified in the same expense line item as cash compensation. Information about share-based compensation included in the unaudited results of operations for the three months ended March 31, 2016 and 2015 is as follows (in thousands): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="74%"></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" align="center"> For the Three Months Ended March 31,</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2016</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2015</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Officer compensation </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">33</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">23</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Non-employee directors </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Sales, general and administrative </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">28</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">17</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Total share-based compensation expense </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">77</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">51</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

2004

<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 22px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Issued (Not adopted yet): <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017 and early application is not permitted. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements as well as the expected adoption method. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements Going Concern (Subtopic 205-40) -Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” This ASU requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period, including interim periods, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which revises the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use (“ROU”) asset for all leases. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. ASU 2016-02 is effective for annual and interim reporting periods within those years beginning after December 15, 2018 and early adoption is permitted. This update should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In March 2016, the FASB issued ASU No. 2016-05, “Derivatives and Hedging (Topic 815),” which clarifies that a change in the counterparty to a derivative instrument that has been designed as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. ASU 2016-05 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied either on a prospective basis or through a modified retrospective basis. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718),” which simplifies several aspects of the accounting for share-based payments, including immediate recognition of all excess tax benefits and deficiencies in the income statement, changing the threshold to qualify for equity classification up to the employees’ maximum statutory tax rates, allowing an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur, and clarifying the classification on the statement of cash flows for the excess tax benefit and employee taxes paid when an employer withholds shares for tax-withholding purposes. ASU 2016-09 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied through the following methods: 1) a modified retrospective transition approach as related to the timing of when tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value, 2) retrospectively as related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds hares to meet the minimum statutory withholding requirement, 3) prospectively as related to the recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term and 4) either prospective transition method or a retrospective transition method as related to the presentation of excess tax benefits on the statement of cash flows. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606),” which provided clarification for the identification of performance obligations and licensing but did not change the core principle of the guidance. ASU 2016-10 is effective in conjunction with ASU 2014-09 for annual and interim reporting periods within those years beginning after December 15, 2017. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Other accounting standards updates effective after March 31, 2016 are not expected to have a material effect on our consolidated financial statements. </div>

IFON

-0.06

<div> NOTE 3. Earnings Per Share Basic earnings per share are computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed similarly to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common share equivalents are excluded from the computation if their effect is anti-dilutive. The Company’s common share equivalents consist of stock options. Common shares from the potential exercise of certain options are excluded from the computation of diluted earnings (loss) per share if their exercise prices are greater than the Company’s average stock price for the period. For the three months ended March 31, 2016, the number of such shares excluded was 315,000. For the three months ended March 31, 2015, no such shares were excluded. In addition, because their effect would have been anti-dilutive, common shares from exercise of 942,000 in-the-money options for the three months ended March 31, 2016 have been excluded from the computation of net loss per share. </div>

P1Y6M4D

P4Y2M1D

56000

-14000

-903000

9410000

-56000

-679000

350000

24000

1178000

-165000

92000

-535000

72000

-1345000

67000

-900000

3000

77000

-2209000

1857000

77000

-189000

-442000

-877000

-56000

21000

8232000

442000

2 2015 57000 57000

Borrowings under the Credit Facility bear interest based on the face amount of the financed receivables at the prime rate plus 4.5% for domestic receivables and 3.53% for foreign receivables.

2017-09-27

28000

33000

16000

169000

942000

315000

P7Y 2013-10-08 2015-11-19 2015-06-19

1618000

12000

1782000

793000

3635000

1570000

0001274032 ifon:UsBasedDistributorsSellingToLatinAmericaMember 2016-01-01 2016-03-31 0001274032 us-gaap:CentralAmericaMember 2016-01-01 2016-03-31 0001274032 country:US 2016-01-01 2016-03-31 0001274032 country:MX 2016-01-01 2016-03-31 0001274032 us-gaap:AsiaPacificMember 2016-01-01 2016-03-31 0001274032 us-gaap:SouthAmericaMember 2016-01-01 2016-03-31 0001274032 ifon:MorphoKomodoLitigationMember 2016-01-01 2016-03-31 0001274032 ifon:BlueSpikeLitigationMember 2016-01-01 2016-03-31 0001274032 us-gaap:MaximumMember 2016-01-01 2016-03-31 0001274032 ifon:TwoThousandAndFifteenEquityIncentivePlanMember 2016-01-01 2016-03-31 0001274032 us-gaap:StockOptionMember 2016-01-01 2016-03-31 0001274032 us-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember 2016-01-01 2016-03-31 0001274032 ifon:NonEmployeeDirectorsMember 2016-01-01 2016-03-31 0001274032 us-gaap:OfficerMember 2016-01-01 2016-03-31 0001274032 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2016-01-01 2016-03-31 0001274032 ifon:AgreementMemberifon:SiliconValleyBankMember 2016-01-01 2016-03-31 0001274032 2016-01-01 2016-03-31 0001274032 ifon:UsBasedDistributorsSellingToLatinAmericaMember 2015-01-01 2015-03-31 0001274032 us-gaap:CentralAmericaMember 2015-01-01 2015-03-31 0001274032 country:US 2015-01-01 2015-03-31 0001274032 country:MX 2015-01-01 2015-03-31 0001274032 us-gaap:AsiaPacificMember 2015-01-01 2015-03-31 0001274032 us-gaap:SouthAmericaMember 2015-01-01 2015-03-31 0001274032 ifon:TwoThousandAndFifteenEquityIncentivePlanMember 2015-01-01 2015-03-31 0001274032 ifon:NonEmployeeDirectorsMember 2015-01-01 2015-03-31 0001274032 us-gaap:OfficerMember 2015-01-01 2015-03-31 0001274032 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2015-01-01 2015-03-31 0001274032 2015-01-01 2015-03-31 0001274032 2015-01-01 2015-12-31 0001274032 us-gaap:DomesticLineOfCreditMemberifon:AgreementMemberifon:SiliconValleyBankMemberus-gaap:PrimeRateMember 2014-03-27 2014-03-27 0001274032 us-gaap:ForeignLineOfCreditMemberifon:AgreementMemberifon:SiliconValleyBankMemberus-gaap:PrimeRateMember 2014-03-27 2014-03-27 0001274032 us-gaap:MachineryAndEquipmentMember 2015-12-31 0001274032 us-gaap:PropertyPlantAndEquipmentOtherTypesMember 2015-12-31 0001274032 us-gaap:FurnitureAndFixturesMember 2015-12-31 0001274032 2015-12-31 0001274032 2014-12-31 0001274032 ifon:TwoThousandAndFifteenEquityIncentivePlanMember 2016-03-31 0001274032 ifon:TwoThousandAndSixEquityIncentivePlanMember 2016-03-31 0001274032 us-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember 2016-03-31 0001274032 us-gaap:MachineryAndEquipmentMember 2016-03-31 0001274032 us-gaap:PropertyPlantAndEquipmentOtherTypesMember 2016-03-31 0001274032 us-gaap:FurnitureAndFixturesMember 2016-03-31 0001274032 ifon:AgreementMemberifon:SiliconValleyBankMember 2016-03-31 0001274032 2016-03-31 0001274032 2015-03-31 0001274032 us-gaap:DomesticLineOfCreditMemberifon:AgreementMemberifon:SiliconValleyBankMember 2014-03-27 0001274032 us-gaap:ForeignLineOfCreditMemberifon:AgreementMemberifon:SiliconValleyBankMember 2014-03-27 0001274032 ifon:AgreementMemberifon:SiliconValleyBankMember 2014-03-27 0001274032 2016-05-03 0001274032 ifon:AgreementMemberifon:SiliconValleyBankMember 2015-08-04 iso4217:USD shares pure iso4217:USD shares ifon:Segment ifon:Plans

EX-101.SCH 8 ifon-20160331.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink 103 - Statement - Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) link:calculationLink link:presentationLink link:definitionLink 104 - Statement - Consolidated Balance Sheets link:calculationLink link:presentationLink link:definitionLink 105 - Statement - Consolidated Balance Sheets (Parenthetical) link:calculationLink link:presentationLink link:definitionLink 106 - Statement - Consolidated Statements of Cash Flows (unaudited) link:calculationLink link:presentationLink link:definitionLink 107 - Disclosure - Basis of Presentation link:calculationLink link:presentationLink link:definitionLink 108 - Disclosure - Stock-Based Compensation link:calculationLink link:presentationLink link:definitionLink 109 - Disclosure - Earnings Per Share link:calculationLink link:presentationLink link:definitionLink 110 - Disclosure - Income Taxes link:calculationLink link:presentationLink link:definitionLink 111 - Disclosure - Inventory link:calculationLink link:presentationLink link:definitionLink 112 - Disclosure - Property and Equipment link:calculationLink link:presentationLink link:definitionLink 113 - Disclosure - Accrued Expenses link:calculationLink link:presentationLink link:definitionLink 114 - Disclosure - Line of Credit link:calculationLink link:presentationLink link:definitionLink 115 - Disclosure - Foreign Exchange Hedging Facility link:calculationLink link:presentationLink link:definitionLink 116 - Disclosure - Recent Accounting Pronouncements link:calculationLink link:presentationLink link:definitionLink 117 - Disclosure - Geographic Information link:calculationLink link:presentationLink link:definitionLink 118 - Disclosure - Commitments and Contingencies link:calculationLink link:presentationLink link:definitionLink 119 - Disclosure - Fair Value of Financial Instruments link:calculationLink link:presentationLink link:definitionLink 120 - Disclosure - Recent Accounting Pronouncements (Policies) link:calculationLink link:presentationLink link:definitionLink 121 - Disclosure - Stock-Based Compensation (Tables) link:calculationLink link:presentationLink link:definitionLink 122 - Disclosure - Inventory (Tables) link:calculationLink link:presentationLink link:definitionLink 123 - Disclosure - Property and Equipment (Tables) link:calculationLink link:presentationLink link:definitionLink 124 - Disclosure - Accrued Expenses (Tables) link:calculationLink link:presentationLink link:definitionLink 125 - Disclosure - Geographic Information (Tables) link:calculationLink link:presentationLink link:definitionLink 126 - Disclosure - Stock-Based Compensation - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 127 - Disclosure - Stock-Based Compensation - Summary of Option Activity (Detail) link:calculationLink link:presentationLink link:definitionLink 128 - Disclosure - Stock-Based Compensation - Summary of Non-Vested Options (Detail) link:calculationLink link:presentationLink link:definitionLink 129 - Disclosure - Stock-Based Compensation - Share-Based Compensation Included in Unaudited Results of Operations (Detail) link:calculationLink link:presentationLink link:definitionLink 130 - Disclosure - Earnings Per Share - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 131 - Disclosure - Income Taxes - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 132 - Disclosure - Inventory - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 133 - Disclosure - Inventory - Schedule of Inventory (Detail) link:calculationLink link:presentationLink link:definitionLink 134 - Disclosure - Property and Equipment - Summary of Property and Equipment (Detail) link:calculationLink link:presentationLink link:definitionLink 135 - Disclosure - Property and Equipment - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 136 - Disclosure - Accrued Expenses - Schedule of Accrued Expenses (Detail) link:calculationLink link:presentationLink link:definitionLink 137 - Disclosure - Line of Credit - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 138 - Disclosure - Foreign Exchange Hedging Facility - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 139 - Disclosure - Geographic Information - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 140 - Disclosure - Geographic Information - Schedule of Sales by Geographical Area (Detail) link:calculationLink link:presentationLink link:definitionLink 141 - Disclosure - Commitments and Contingencies - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 9 ifon-20160331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 ifon-20160331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 ifon-20160331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Accounting Changes and Error Corrections [Abstract] Accounting Changes and Error Corrections [Abstract] Accounts and Other Receivables, Net, Current Other accounts receivable Accounts Payable and Accrued Liabilities Disclosure [Text Block] Accrued Expenses Accounts Payable, Current Accounts payable Accounts Receivable, Net, Current Trade accounts receivable, net of allowance for doubtful accounts of $95 and $95, respectively Accrued Advertising, Current Accrued coop advertising Accrued Liabilities, Current Accrued expenses Total Accrued liability on foreign currency exchange contracts current. Accrued Liability On Foreign Currency Exchange Contracts Current Foreign currency forward exchange contracts Accrued product costs including warranty. Accrued Product Costs Including Warranty Accrued product costs Accrued Vacation, Current Accrued vacation pay Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Less accumulated depreciation Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated other comprehensive loss Additional Paid in Capital Additional paid-in capital common stock Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Agreement [Member] Agreement [Member] Agreement [Member] Allocated Share-based Compensation Expense, Net of Tax Expense related to options granted under equity incentive plan Allowance for Doubtful Accounts Receivable, Current Accounts receivable, allowance for doubtful accounts Amendment Flag Amendment Flag Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount Antidilutive securities excluded from computation of diluted earnings per share Antidilutive Securities [Axis] Antidilutive Securities [Axis] Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] Antidilutive Securities, Name [Domain] Antidilutive Securities, Name [Domain] Asia Pacific [Member] Asia Pacific [Member] Assets Total assets Assets [Abstract] ASSETS Assets, Current Total current assets Assets, Current [Abstract] Current assets: Blue Spike Litigation [Member] Blue Spike Litigation [Member] Blue Spike Litigation [Member] Cash and Cash Equivalents, at Carrying Value Cash and cash equivalents, end of period Cash and cash equivalents, beginning of period Cash and cash equivalents Cash and Cash Equivalents, Period Increase (Decrease) Net increase (decrease) in cash and cash equivalents Cash Flow Hedging [Member] Cash Flow Hedging [Member] Central America [Member] Central America [Member] Change in inventory reserve. Change In Inventory Reserve Provision for obsolete inventory Commitments and Contingencies Commitments and Contingencies (Note 12) Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies Commitments And Contingency Additional Lawsuit Filing Date. Commitments And Contingency Additional Lawsuit Filing Date Additional lawsuit filing date Commitments and contingency lawsuit filing date. Commitments And Contingency Lawsuit Filing Date Lawsuit filing date Common Stock, Par or Stated Value Per Share Common stock, par value Common Stock, Shares Authorized Common stock, shares authorized Common Stock, Shares, Issued Common stock, shares issued Common Stock, Shares, Outstanding Common stock, shares outstanding Common Stock, Value, Issued Common stock, $0.001 par value, 40,000 shares authorized; 14,389 and 14,389 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively Comprehensive Income (Loss), Net of Tax, Attributable to Parent Comprehensive income (loss) Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] Comprehensive income (loss): Cost of Revenue Cost of sales Credit Facility [Axis] Credit Facility [Axis] Credit Facility [Domain] Credit Facility [Domain] Cumulative Effect on Retained Earnings, Tax Cumulative effect on retained earnings Current Fiscal Year End Date Current Fiscal Year End Date Debt Disclosure [Abstract] Debt Disclosure [Abstract] Debt Disclosure [Text Block] Line of Credit Debt Instrument [Axis] Debt Instrument [Axis] Debt Instrument, Basis Spread on Variable Rate Credit Facility interest rate Debt Instrument, Name [Domain] Debt Instrument, Name [Domain] Depreciation Depreciation Depreciation expense Derivative Contract [Domain] Derivative Contract [Domain] Derivative Instrument [Axis] Derivative Instrument [Axis] Derivative Instruments and Hedging Activities Disclosure [Abstract] Derivative Instruments and Hedging Activities Disclosure [Abstract] Derivative Instruments and Hedging Activities Disclosure [Text Block] Foreign Exchange Hedging Facility Hedging Relationship [Axis] Hedging Relationship [Axis] Derivative Instruments, Gain (Loss) [Table] Derivative Instruments, Gain (Loss) [Table] Derivative Instruments, Gain (Loss) [Line Items] Derivative Instruments, Gain (Loss) [Line Items] Derivative, Loss on Derivative Cash flow hedging loss on forward contracts Disclosure of Compensation Related Costs, Share-based Payments [Abstract] Disclosure of Compensation Related Costs, Share-based Payments [Abstract] Document and entity information. Document And Entity Information [Abstract] Document And Entity Information [Abstract] Document Fiscal Period Focus Document Fiscal Period Focus Document Fiscal Year Focus Document Fiscal Year Focus Document Period End Date Document Period End Date Document Type Document Type Domestic Line of Credit [Member] Domestic receivables [Member] Earnings Per Share [Abstract] Net income (loss) per share: Earnings Per Share, Basic Basic Earnings Per Share, Diluted Diluted Earnings Per Share [Text Block] Earnings Per Share Effect of Exchange Rate on Cash and Cash Equivalents Effect of exchange rate changes on cash Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized Unrecognized compensation expense related to non-vested stock options Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition Recognition of unrecognized compensation expense, weighted-average period (in years) Entity Central Index Key Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Common Stock, Shares Outstanding Entity Filer Category Entity Filer Category Entity Registrant Name Entity Registrant Name Equity [Abstract] Equity [Abstract] Fair Value Disclosures [Abstract] Fair Value Disclosures [Abstract] Fair Value Disclosures [Text Block] Fair Value of Financial Instruments Foreign Exchange Forward [Member] Foreign Exchange Forward [Member] Foreign Line of Credit [Member] Foreign receivables [Member] Furniture and Fixtures [Member] Furniture and Fixtures [Member] Gross Profit Gross profit Hedging Relationship [Domain] Hedging Relationship [Domain] Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest Income (loss) before provision for income taxes Income Statement [Abstract] Income Statement [Abstract] Income Statement Location [Axis] Income Statement Location [Axis] Income Statement Location [Domain] Income Statement Location [Domain] Income Tax Disclosure [Abstract] Income Tax Disclosure [Abstract] Income Tax Disclosure [Text Block] Income Taxes Income Taxes Paid, Net Cash paid for income taxes Income Tax Expense (Benefit) Provision for income taxes Increase (Decrease) in Accounts and Other Receivables Other accounts receivable Increase (Decrease) in Accounts Payable Accounts payable Increase (Decrease) in Accounts Receivable Trade accounts receivable Increase (Decrease) in Accrued Liabilities Accrued expenses Increase (Decrease) in Inventories Inventory Increase decrease in inventory reserve. Increase Decrease In Inventory Reserve Increase in inventory reserve Increase (Decrease) in Operating Assets [Abstract] (Increase) decrease in: Increase (Decrease) in Operating Liabilities [Abstract] Increase (decrease) in: Increase (Decrease) in Other Operating Assets Other assets Increase (Decrease) in Prepaid Expense Prepaids Interest Income (Expense), Net Interest, net Interest Paid, Net Cash paid for interest Inventory Disclosure [Abstract] Inventory Disclosure [Abstract] Inventory Disclosure [Text Block] Inventory Inventory, Finished Goods, Gross Finished goods Inventory, Net Inventory Net inventory Inventory Valuation Reserves Inventory reserve Inventory reserve Liabilities and Equity Total liabilities and stockholders' equity Liabilities and Equity [Abstract] LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities, Current Total current liabilities Liabilities, Current [Abstract] Current liabilities: Long-term Line of Credit Amounts drawn against the Credit Facility Line of credit advance rate against accounts receivable Line Of Credit Advance Rate Against Accounts Receivable Eligible accounts receivable, advance rate Line of Credit Facility Amount Available to Borrow Line of Credit Facility Amount Available to Borrow Line of credit facility available Lender Name [Axis] Lender Name [Axis] Line of Credit Facility, Expiration Date Credit facility maturity date Line of Credit Facility, Interest Rate Description Line of credit facility, interest rate description Line of Credit Facility, Lender [Domain] Line of Credit Facility, Lender [Domain] Line of Credit Facility [Line Items] Line of Credit Facility [Line Items] Line of Credit Facility, Maximum Borrowing Capacity Line of credit facility, maximum borrowing capacity Line of Credit Facility [Table] Line of Credit Facility [Table] Litigation Case [Axis] Litigation Case [Axis] Litigation Case [Domain] Litigation Case [Domain] Loss Contingencies [Line Items] Loss Contingencies [Line Items] Loss Contingencies [Table] Loss Contingencies [Table] Machinery and Equipment [Member] Machinery and Equipment [Member] Maximum [Member] Maximum [Member] Morpho Komodo Litigation [Member] Morpho Komodo Litigation [Member] Morpho Komodo Litigation [Member] MEXICO Mexico [Member] Net Cash Provided by (Used in) Financing Activities Net cash provided by financing activities Net Cash Provided by (Used in) Financing Activities [Abstract] Cash flows from financing activities: Net Cash Provided by (Used in) Investing Activities Net cash used in investing activities Net Cash Provided by (Used in) Investing Activities [Abstract] Cash flows from investing activities: Net Cash Provided by (Used in) Operating Activities Net cash provided by (used in) operating activities Net Cash Provided by (Used in) Operating Activities [Abstract] Cash flows from operating activities: Net Income (Loss) Attributable to Parent Net income (loss) Net income (loss) New Accounting Pronouncements and Changes in Accounting Principles [Text Block] Recent Accounting Pronouncements New Accounting Pronouncements, Policy [Policy Text Block] Recent Accounting Pronouncement Non-employee directors. Non Employee Directors [Member] Non-employee Directors [Member] Number of business segment. Number Of Business Segment Number of business segment operated currently Officer [Member] Officer Compensation [Member] Open Tax Year Year under examination Open tax year one. Open Tax Year One Year under examination, one Operating Expenses Operating expenses Operating Income (Loss) Operating income (loss) Organization, Consolidation and Presentation of Financial Statements [Abstract] Organization, Consolidation and Presentation of Financial Statements [Abstract] Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] Basis of Presentation Other Accrued Liabilities, Current Other accruals Other Assets, Noncurrent Other assets Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax Foreign currency translation adjustments Other Nonoperating Income (Expense) Other, net Other Nonoperating Income (Expense) [Abstract] Other income (expense): Payables and Accruals [Abstract] Payables and Accruals [Abstract] Payments to Acquire Property, Plant, and Equipment Purchase of property and equipment Plan Name [Axis] Plan Name [Axis] Plan Name [Domain] Plan Name [Domain] Preferred Stock, Par or Stated Value Per Share Preferred stock, par value Preferred Stock, Shares Authorized Preferred stock, shares authorized Preferred Stock, Shares Issued Preferred stock, shares issued Preferred Stock, Shares Outstanding Preferred stock, shares outstanding Preferred Stock, Value, Issued Preferred stock, $0.001 par value, 10,000 shares authorized (no shares issued and outstanding) Prepaid Expense, Current Prepaid assets Prepaid inventory. Prepaid Inventory Prepaid inventory balances included in prepaid assets Prime Rate [Member] Prime rate [Member] Proceeds from (Repayments of) Lines of Credit Borrowings on line of credit Proceeds from Stock Options Exercised Cash received from exercise of stock options Property, Plant and Equipment [Abstract] Property, Plant and Equipment [Abstract] Property, Plant and Equipment, Type [Axis] Property, Plant and Equipment, Type [Axis] Property, Plant and Equipment Disclosure [Text Block] Property and Equipment Property, Plant and Equipment, Gross Property and equipment, gross Property, Plant and Equipment [Line Items] Property, Plant and Equipment [Line Items] Property, Plant and Equipment, Net Property and equipment, net Total Property, Plant and Equipment, Other Types [Member] Tooling and Molds [Member] Property, Plant and Equipment [Table Text Block] Summary of Property and Equipment Property, Plant and Equipment, Type [Domain] Property, Plant and Equipment, Type [Domain] Range [Axis] Range [Axis] Range [Domain] Range [Domain] Repayments of Lines of Credit Repayments on line of credit Retained Earnings (Accumulated Deficit) Accumulated deficit Revenues from External Customers and Long-Lived Assets [Line Items] Revenues from External Customers and Long-Lived Assets [Line Items] Revenue, Net Net sales Net sales by geographical area Schedule of Accrued Liabilities [Table Text Block] Schedule of Accrued Expenses Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table] Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table] Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] Share-Based Compensation Included in Unaudited Results of Operations Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table] Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table] EX-101.PRE 12 ifon-20160331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 13 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	May. 03, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Trading Symbol	IFON
Entity Registrant Name	INFOSONICS CORP
Entity Central Index Key	0001274032
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		14,388,728

XML 14 R2.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 9,410	$ 14,517
Cost of sales	8,232	11,963
Gross profit	1,178	2,554
Operating expenses	1,857	1,896
Operating income (loss)	(679)	658
Other income (expense):
Other, net	(165)
Interest, net	(56)	(123)
Income (loss) before provision for income taxes	(900)	535
Provision for income taxes	(3)	(3)
Net income (loss)	$ (903)	$ 532
Net income (loss) per share:
Basic	$ (0.06)	$ 0.04
Diluted	$ (0.06)	$ 0.04
Weighted-average number of common shares outstanding:
Basic	14,389	14,362
Diluted	14,389	14,755
Comprehensive income (loss):
Net income (loss)	$ (903)	$ 532
Foreign currency translation adjustments	(442)	(121)
Comprehensive income (loss)	$ (1,345)	$ 411

XML 15 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 438	$ 2,647
Trade accounts receivable, net of allowance for doubtful accounts of $95 and $95, respectively	8,756	9,291
Other accounts receivable	82	96
Inventory	6,930	6,637
Prepaid assets	2,097	2,025
Total current assets	18,303	20,696
Property and equipment, net	191	156
Other assets	153	129
Total assets	18,647	20,981
Current liabilities:
Accounts payable	3,521	4,398
Accrued expenses	2,154	2,343
Total current liabilities	$ 5,675	$ 6,741
Commitments and Contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.001 par value, 10,000 shares authorized (no shares issued and outstanding)
Common stock, $0.001 par value, 40,000 shares authorized; 14,389 and 14,389 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	$ 14	$ 14
Additional paid-in capital common stock	32,936	32,859
Accumulated other comprehensive loss	(2,034)	(1,592)
Accumulated deficit	(17,944)	(17,041)
Total stockholders' equity	12,972	14,240
Total liabilities and stockholders' equity	$ 18,647	$ 20,981

XML 16 R4.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 95	$ 95
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	14,389,000	14,389,000
Common stock, shares outstanding	14,389,000	14,389,000

XML 17 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (903)	$ 532
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	21	22
Provision for obsolete inventory	57	(67)
Stock-based compensation	77	51
(Increase) decrease in:
Trade accounts receivable	535	1,152
Other accounts receivable	14	(15)
Inventory	(350)	(1,960)
Prepaids	(72)	818
Other assets	(24)	(25)
Increase (decrease) in:
Accounts payable	(877)	1,036
Accrued expenses	(189)	(52)
Net cash provided by (used in) operating activities	(1,711)	1,492
Cash flows from investing activities:
Purchase of property and equipment	(56)	(3)
Net cash used in investing activities	(56)	(3)
Cash flows from financing activities:
Borrowings on line of credit		3,091
Repayments on line of credit		(3,091)
Cash received from exercise of stock options		16
Net cash provided by financing activities		16
Effect of exchange rate changes on cash	(442)	(121)
Net increase (decrease) in cash and cash equivalents	(2,209)	1,384
Cash and cash equivalents, beginning of period	2,647	1,464
Cash and cash equivalents, end of period	438	2,848
Cash paid for interest	67	115
Cash paid for income taxes	$ 0	$ 0

XML 18 R6.htm IDEA: XBRL DOCUMENT

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 1. Basis of Presentation The accompanying unaudited consolidated financial statements and these condensed notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The preparation of financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results are likely to differ from those estimates, but management does not believe such differences will materially affect the financial position or results of operations of InfoSonics Corporation (the “Company”), although they may. These unaudited consolidated financial statements and condensed notes should be read in conjunction with the financial statements and notes as of and for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K for such year. The Company’s consolidated financial statements include assets, liabilities and operating results of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, these unaudited consolidated financial statements reflect all normal recurring adjustments considered necessary to fairly present the Company’s results of operations, financial position and cash flows as of March 31, 2016 and for all periods presented. The results reported in these consolidated financial statements for the three months ended March 31, 2016 are not necessarily indicative of the operating results, financial condition or cash flows that may be expected for the full fiscal year of 2016 or for any future period.

XML 19 R7.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Stock-Based Compensation

NOTE 2. Stock-Based Compensation

A summary of option activity under both the 2006 Plan and the 2015 Plan as of March 31, 2016 and changes during the three months then ended is presented in the table below (shares in thousands):


	Shares		Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Life in Years
Outstanding at December 31, 2015		1,257	$	1.04		4.51
Granted		—	$	—
Exercised		—	$	—
Forfeited		—	$	—

Outstanding at March 31, 2016		1,257	$	1.04		4.26

Vested and expected to vest		1,190	$	1.01		4.17
Exercisable at March 31, 2016		876	$	0.82		3.37

A summary of the status of the Company’s non-vested options at March 31, 2016 and changes during the three months then ended is presented below (shares in thousands):


	Shares			Weighted-average grant-date fair value
Non-vested at December 31, 2015		450		$	1.16
Granted		—		$	—
Vested		(69	)	$	1.07
Forfeited		—		$	—

Non-vested at March 31, 2016		381		$	1.17


	For the Three Months Ended March 31,
	2016		2015
Officer compensation	$	33	$	23
Non-employee directors		16		11
Sales, general and administrative		28		17

Total share-based compensation expense	$	77	$	51

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

XML 20 R8.htm IDEA: XBRL DOCUMENT

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 3. Earnings Per Share Basic earnings per share are computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed similarly to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common share equivalents are excluded from the computation if their effect is anti-dilutive. The Company’s common share equivalents consist of stock options. Common shares from the potential exercise of certain options are excluded from the computation of diluted earnings (loss) per share if their exercise prices are greater than the Company’s average stock price for the period. For the three months ended March 31, 2016, the number of such shares excluded was 315,000. For the three months ended March 31, 2015, no such shares were excluded. In addition, because their effect would have been anti-dilutive, common shares from exercise of 942,000 in-the-money options for the three months ended March 31, 2016 have been excluded from the computation of net loss per share.

XML 21 R9.htm IDEA: XBRL DOCUMENT

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 4. Income Taxes The Company made a comprehensive review of its portfolio of uncertain tax positions in accordance with applicable standards of the Financial Accounting Standards Board (“FASB”). In this regard, an uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. As a result of this review, the Company concluded that at this time there are no uncertain tax positions, and there has been no cumulative effect on retained earnings. The Company is subject to U.S. federal income tax as well as income tax in multiple states and foreign jurisdictions. For all major taxing jurisdictions, the tax years 2004 through 2015 remain open to examination or re-examination. As of March 31, 2016, the Company does not expect any material changes to unrecognized tax positions within the next twelve months. The Company recognizes the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity’s financial statements or tax returns. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. Fluctuations in the actual outcome of these future tax consequences could materially impact the Company’s financial position or results of operations. For the three months ended March 31, 2016, deferred income tax assets and the corresponding valuation allowance increased by $92,000.

XML 22 R10.htm IDEA: XBRL DOCUMENT

Inventory

3 Months Ended

Mar. 31, 2016

Inventory Disclosure [Abstract]

Inventory

NOTE 5. Inventory


	March 31, 2016 (unaudited)			December 31, 2015 (audited)
Finished goods	$	7,263		$	6,913
Inventory reserve		(333	)		(276	)

Net inventory	$	6,930		$	6,637

XML 23 R11.htm IDEA: XBRL DOCUMENT

Property and Equipment

3 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

NOTE 6. Property and Equipment

Property and equipment are primarily located in the United States and China and consisted of the following as of the dates presented (in thousands):


	March 31, 2016 (unaudited)			December 31, 2015 (audited)
Machinery and equipment	$	378		$	322
Tooling and molds		58			58
Furniture and fixtures		164			164

Subtotal		600			544
Less accumulated depreciation		(409	)		(388	)

Total	$	191		$	156

Depreciation expense for the three months ended March 31, 2016 and 2015 was $21,000 and $22,000, respectively.

XML 24 R12.htm IDEA: XBRL DOCUMENT

Accrued Expenses

3 Months Ended

Mar. 31, 2016

Payables and Accruals [Abstract]

Accrued Expenses

NOTE 7. Accrued Expenses

As of March 31, 2016 and December 31, 2015, accrued expenses consisted of the following (in thousands):


	March 31, 2016 (unaudited)		December 31, 2015 (audited)
Accrued product costs	$	466	$	465
Accrued coop advertising		302		567
Accrued vacation pay		208		217
Income taxes payable		101		109
Foreign currency forward exchange contracts		263		—
Other accruals		814		985

Total	$	2,154	$	2,343

XML 25 R13.htm IDEA: XBRL DOCUMENT

Line of Credit	3 Months Ended
Line of Credit	Mar. 31, 2016
Debt Disclosure [Abstract]
Line of Credit	NOTE 8. Line of Credit On March 27, 2014, the Company entered into a Loan and Security Agreement and an attendant Intellectual Property Security Agreement (collectively the “Agreement”) with Silicon Valley Bank (“SVB”), pursuant to which the Company could borrow up to $2 million based upon both its domestic and foreign eligible accounts receivable multiplied by an advance rate of 80% and 70%, respectively, with eligibility determined in accordance with the Agreement (the “Credit Facility”). The Credit Facility is secured by substantially all of the Company’s assets. Borrowings under the Credit Facility bear interest based on the face amount of the financed receivables at the prime rate plus 4.5% for domestic receivables and 3.53% for foreign receivables. On August 4, 2015, the Credit Facility, which contains representations and warranties, affirmative, restrictive and financial covenants, and events of default which are customary for credit facilities of this type, was amended to increase the availability of borrowings under the Credit Facility to $7 million. At March 31, 2016, the Company was in compliance with all covenants, no amounts were drawn against the Credit Facility and $7 million was available for borrowing under the credit line. The maturity date of the Credit Facility is September 27, 2017.

XML 26 R14.htm IDEA: XBRL DOCUMENT

Foreign Exchange Hedging Facility	3 Months Ended
Foreign Exchange Hedging Facility	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign Exchange Hedging Facility	NOTE 9. Foreign Exchange Hedging Facility On January 14, 2016, the Company entered into an Agreement for Purchase and Sale of Foreign Securities (the “FS Agreement”) with SVB. Under the FS Agreement, the Company and SVB can enter into foreign currency spot contracts, forward contracts, forward window contracts and options to manage the Company’s foreign currency risk. During the three months ended March 31, 2016, the Company entered into forward contracts designated as cash flow hedges to protect against the foreign currency exchange rate risk of the Mexican Peso inherent in its forecasted net sales and cash collections from customers in Mexico. The hedges mature on a monthly basis through June 30, 2016. Changes in the fair value of the hedges are initially recorded in accumulated other comprehensive loss as a separate component of stockholders’ equity in the Consolidated Balance Sheet and subsequently reclassified into earnings as other income (loss) on the Consolidated Statement of Operations and Comprehensive Income (Loss) in the period in which the hedge matures. During the three months ended March 31, 2016, the Company recorded a loss of $169,000 on forward contracts that matured during the period. At March 31, 2016, the fair value obligation of outstanding forward contracts of $263,000 was included in accrued expenses with the related loss amount remaining in accumulated other comprehensive loss.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708775-113959

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

XML 27 R15.htm IDEA: XBRL DOCUMENT

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	NOTE 10. Recent Accounting Pronouncements *Issued (Not adopted yet):* In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017 and early application is not permitted. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements as well as the expected adoption method. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements Going Concern (Subtopic 205-40) -Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” This ASU requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period, including interim periods, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which revises the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use (“ROU”) asset for all leases. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. ASU 2016-02 is effective for annual and interim reporting periods within those years beginning after December 15, 2018 and early adoption is permitted. This update should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-05, “Derivatives and Hedging (Topic 815),” which clarifies that a change in the counterparty to a derivative instrument that has been designed as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. ASU 2016-05 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied either on a prospective basis or through a modified retrospective basis. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718),” which simplifies several aspects of the accounting for share-based payments, including immediate recognition of all excess tax benefits and deficiencies in the income statement, changing the threshold to qualify for equity classification up to the employees’ maximum statutory tax rates, allowing an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur, and clarifying the classification on the statement of cash flows for the excess tax benefit and employee taxes paid when an employer withholds shares for tax-withholding purposes. ASU 2016-09 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied through the following methods: 1) a modified retrospective transition approach as related to the timing of when tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value, 2) retrospectively as related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds hares to meet the minimum statutory withholding requirement, 3) prospectively as related to the recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term and 4) either prospective transition method or a retrospective transition method as related to the presentation of excess tax benefits on the statement of cash flows. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606),” which provided clarification for the identification of performance obligations and licensing but did not change the core principle of the guidance. ASU 2016-10 is effective in conjunction with ASU 2014-09 for annual and interim reporting periods within those years beginning after December 15, 2017. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. Other accounting standards updates effective after March 31, 2016 are not expected to have a material effect on our consolidated financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305

+ Details

XML 28 R16.htm IDEA: XBRL DOCUMENT

Geographic Information

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Geographic Information

NOTE 11. Geographic Information


	For the Three Months Ended
	March 31, 2016		March 31, 2015
Central America	$	3,635	$	3,298
South America		1,618		3,176
Mexico		1,782		3,795
U.S.-based Latin American distributors		1,570		3,262
United States		793		985
Asia Pacific		12		1

Total	$	9,410	$	14,517

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

XML 29 R17.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12. Commitments and Contingencies Blue Spike Litigation On October 8, 2013, Blue Spike, LLC (“Blue Spike”) filed a patent infringement lawsuit against the Company in the U.S. District Court for the Eastern District of Texas, alleging that certain of our products infringe claims of U.S. Patent No. 5,745,569. Blue Spike is seeking recovery of unspecified monetary damages. On February 10, 2014 we filed an answer with the Court stating that we do not infringe and setting forth multiple defenses. A scheduling conference was held on July 31, 2015 and a Markman Hearing was held on February 10, 2016. Trial is scheduled for January 23, 2017. On November 19, 2015, Blue Spike filed an additional patent infringement lawsuit against the Company in the U.S. District Court for the Eastern District of Texas, alleging that certain of our products infringe claims of U.S. Patent No. 8,930,719. The Company was served with this lawsuit on February 12, 2016, and it is expected that the two lawsuits will be consolidated into one by the Court. We do not believe we infringe the Blue Spike patents and intend to defend ourselves vigorously. Due to the inherent uncertainty of litigation, we cannot identify probable or estimable damages related to these lawsuits at this time. Morpho Komodo Litigation On June 19, 2015, Morpho Komodo LLC (“Morpho Komodo”) filed a patent infringement lawsuit against the Company in the U.S. District Court for the Eastern District of Texas, alleging that certain of our products infringe claims of U.S. Patents No. 7,350,078, No. 7,725,725 and No. 8,429,415. Morpho Komodo is seeking injunctive relief as well as the recovery of unspecified monetary damages. We do not believe we infringe any valid claim of the Morpho Komodo patents and intend to defend ourselves vigorously. On July 21, 2015, we filed an answer with the Court stating that we do not infringe and setting forth multiple defenses, including invalidity of the asserted patents. Due to the inherent uncertainty of litigation, we cannot identify probable or estimable damages related to the lawsuit at this time. The Company may become involved in certain other legal proceedings and claims which arise in the normal course of business. Other than as described above, as of the filing date of this report, the Company did not have any significant litigation outstanding.

XML 30 R18.htm IDEA: XBRL DOCUMENT

Fair Value of Financial Instruments	3 Months Ended
Fair Value of Financial Instruments	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 13. Fair Value of Financial Instruments The FASB accounting guidance requires disclosure of fair value information about financial instruments, whether or not recognized in the accompanying consolidated balance sheets. Fair value as defined by the guidance is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value estimates of financial instruments are not necessarily indicative of the amounts we might pay or receive in actual market transactions. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Effective April 1, 2008 the Company adopted and follows ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), which established a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instruments categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s cash, cash equivalents and forward contracts used to hedge foreign currency risk are measured at fair value in the Company’s consolidated financial statements and are valued using unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs under ASC 820). The carrying amount of our accounts receivable, other accounts receivable, prepaid expenses, accounts payable and other accrued expenses reported in the consolidated balance sheets approximates fair value because of the short maturity of those instruments. At March 31, 2016 and December 31, 2015, we did not have any material applicable nonrecurring measurements of nonfinancial assets and nonfinancial liabilities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 31 R19.htm IDEA: XBRL DOCUMENT

Recent Accounting Pronouncements (Policies)	3 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncement	*Issued (Not adopted yet):* In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017 and early application is not permitted. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements as well as the expected adoption method. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements Going Concern (Subtopic 205-40) -Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” This ASU requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period, including interim periods, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which revises the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use (“ROU”) asset for all leases. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. ASU 2016-02 is effective for annual and interim reporting periods within those years beginning after December 15, 2018 and early adoption is permitted. This update should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-05, “Derivatives and Hedging (Topic 815),” which clarifies that a change in the counterparty to a derivative instrument that has been designed as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. ASU 2016-05 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied either on a prospective basis or through a modified retrospective basis. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718),” which simplifies several aspects of the accounting for share-based payments, including immediate recognition of all excess tax benefits and deficiencies in the income statement, changing the threshold to qualify for equity classification up to the employees’ maximum statutory tax rates, allowing an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur, and clarifying the classification on the statement of cash flows for the excess tax benefit and employee taxes paid when an employer withholds shares for tax-withholding purposes. ASU 2016-09 is effective for annual and interim reporting periods within those years beginning after December 15, 2016 and early adoption is permitted. This update should be applied through the following methods: 1) a modified retrospective transition approach as related to the timing of when tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value, 2) retrospectively as related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds hares to meet the minimum statutory withholding requirement, 3) prospectively as related to the recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term and 4) either prospective transition method or a retrospective transition method as related to the presentation of excess tax benefits on the statement of cash flows. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606),” which provided clarification for the identification of performance obligations and licensing but did not change the core principle of the guidance. ASU 2016-10 is effective in conjunction with ASU 2014-09 for annual and interim reporting periods within those years beginning after December 15, 2017. This update permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. Other accounting standards updates effective after March 31, 2016 are not expected to have a material effect on our consolidated financial statements.

XML 32 R20.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Summary of Option Activity

A summary of option activity under both the 2006 Plan and the 2015 Plan as of March 31, 2016 and changes during the three months then ended is presented in the table below (shares in thousands):


	Shares		Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Life in Years
Outstanding at December 31, 2015		1,257	$	1.04		4.51
Granted		—	$	—
Exercised		—	$	—
Forfeited		—	$	—

Outstanding at March 31, 2016		1,257	$	1.04		4.26

Vested and expected to vest		1,190	$	1.01		4.17
Exercisable at March 31, 2016		876	$	0.82		3.37

Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options at March 31, 2016 and changes during the three months then ended is presented below (shares in thousands):


	Shares			Weighted-average grant-date fair value
Non-vested at December 31, 2015		450		$	1.16
Granted		—		$	—
Vested		(69	)	$	1.07
Forfeited		—		$	—

Non-vested at March 31, 2016		381		$	1.17

Share-Based Compensation Included in Unaudited Results of Operations


	For the Three Months Ended March 31,
	2016		2015
Officer compensation	$	33	$	23
Non-employee directors		16		11
Sales, general and administrative		28		17

Total share-based compensation expense	$	77	$	51

XML 33 R21.htm IDEA: XBRL DOCUMENT

Inventory (Tables)

3 Months Ended

Mar. 31, 2016

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory consists of the following (in thousands):


	March 31, 2016 (unaudited)			December 31, 2015 (audited)
Finished goods	$	7,263		$	6,913
Inventory reserve		(333	)		(276	)

Net inventory	$	6,930		$	6,637

XML 34 R22.htm IDEA: XBRL DOCUMENT

Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

Property and equipment are primarily located in the United States and China and consisted of the following as of the dates presented (in thousands):


	March 31, 2016 (unaudited)			December 31, 2015 (audited)
Machinery and equipment	$	378		$	322
Tooling and molds		58			58
Furniture and fixtures		164			164

Subtotal		600			544
Less accumulated depreciation		(409	)		(388	)

Total	$	191		$	156

XML 35 R23.htm IDEA: XBRL DOCUMENT

Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2016

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

As of March 31, 2016 and December 31, 2015, accrued expenses consisted of the following (in thousands):


	March 31, 2016 (unaudited)		December 31, 2015 (audited)
Accrued product costs	$	466	$	465
Accrued coop advertising		302		567
Accrued vacation pay		208		217
Income taxes payable		101		109
Foreign currency forward exchange contracts		263		—
Other accruals		814		985

Total	$	2,154	$	2,343

XML 36 R24.htm IDEA: XBRL DOCUMENT

Geographic Information (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Schedule of Sales by Geographical Area

The unaudited net sales by geographical area for the three months ended March 31, 2016 and 2015 were (in thousands):


	For the Three Months Ended
	March 31, 2016		March 31, 2015
Central America	$	3,635	$	3,298
South America		1,618		3,176
Mexico		1,782		3,795
U.S.-based Latin American distributors		1,570		3,262
United States		793		985
Asia Pacific		12		1

Total	$	9,410	$	14,517

XML 37 R25.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016 USD ($) Plans shares	Mar. 31, 2015 USD ($) shares	Dec. 31, 2015 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans \| Plans	2
Shares outstanding under equity incentive plans	1,257,000		1,257,000
Shares available for grant under equity incentive plans	0	0
Expense related to options granted under equity incentive plan \| $	$ 77,000	$ 51,000
Unrecognized compensation expense related to non-vested stock options \| $	$ 341,000
Recognition of unrecognized compensation expense, weighted-average period (in years)	1 year 6 months 4 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option exercisable period	7 years
2006 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding under equity incentive plans	942,000
Shares available for grant under equity incentive plans	0
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding under equity incentive plans	315,000
Shares available for grant under equity incentive plans	899,000

XML 38 R26.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Summary of Option Activity (Detail) - $ / shares shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares, Outstanding, Beginning balance	1,257
Shares, Granted	0
Shares, Exercised	0
Shares, Forfeited	0
Shares, Outstanding, Ending balance	1,257	1,257
Shares, Vested and expected to vest	1,190
Shares, Exercisable, Ending balance	876
Wtd. Avg. Exercise Price Outstanding, Beginning balance	$ 1.04
Wtd. Avg. Exercise Price, Granted	0
Wtd. Avg. Exercise Price, Exercised	0
Wtd. Avg. Exercise Price, Forfeited	0
Wtd. Avg. Exercise Price, Outstanding, Ending balance	1.04	$ 1.04
Wtd. Avg. Exercise Price, Vested and expected to vest	1.01
Wtd. Avg. Exercise Price, Exercisable, Ending balance	$ 0.82
Wtd. Avg. Remaining Contractual Life, Outstanding	4 years 3 months 4 days	4 years 6 months 4 days
Wtd. Avg. Remaining Contractual Life, Vested and expected to vest	4 years 2 months 1 day
Wtd. Avg. Remaining Contractual Life, Exercisable	3 years 4 months 13 days

XML 39 R27.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Summary of Non-Vested Options (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2016 $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares, Non-vested, Beginning balance \| shares	450
Shares, Granted \| shares	0
Shares, Vested \| shares	(69)
Shares, Forfeited \| shares	0
Shares, Non-vested, Ending balance \| shares	381
Weighted-average grant-date fair value, Non-vested, Beginning balance \| $ / shares	$ 1.16
Weighted-average grant-date fair value, Granted \| $ / shares	0
Weighted-average grant-date fair value, Vested \| $ / shares	1.07
Weighted-average grant-date fair value, Forfeited \| $ / shares	0
Weighted-average grant-date fair value, Non-vested, Ending balance \| $ / shares	$ 1.17

XML 40 R28.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Share-Based Compensation Included in Unaudited Results of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock option/warrant expense, included in total operating expenses	$ 77	$ 51
Officer Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock option/warrant expense, included in total operating expenses	33	23
Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock option/warrant expense, included in total operating expenses	16	11
Sales, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock option/warrant expense, included in total operating expenses	$ 28	$ 17

XML 41 R29.htm IDEA: XBRL DOCUMENT

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	942,000
2015 Equity Incentive Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	315,000	0

XML 42 R30.htm IDEA: XBRL DOCUMENT

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Mar. 31, 2016 USD ($)
Income Tax Disclosure [Abstract]
Cumulative effect on retained earnings	$ 0
Unrecognized tax benefits	$ 0
Year under examination	2004
Year under examination, one	2015
Deferred tax assets, increase in valuation allowance	$ 92,000

XML 43 R31.htm IDEA: XBRL DOCUMENT

Inventory - Additional Information (Detail) - USD ($)	3 Months Ended
Inventory - Additional Information (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Increase in inventory reserve	$ 57,000
Inventory reserve	333,000	$ 276,000
Prepaid inventory balances included in prepaid assets	$ 1,196,000	$ 1,232,000

XML 44 R32.htm IDEA: XBRL DOCUMENT

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 7,263	$ 6,913
Inventory reserve	(333)	(276)
Net inventory	$ 6,930	$ 6,637

XML 45 R33.htm IDEA: XBRL DOCUMENT

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 600	$ 544
Less accumulated depreciation	(409)	(388)
Total	191	156
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	378	322
Tooling and Molds [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	58	58
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 164	$ 164

XML 46 R34.htm IDEA: XBRL DOCUMENT

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 21	$ 22

XML 47 R35.htm IDEA: XBRL DOCUMENT

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued product costs	$ 466	$ 465
Accrued coop advertising	302	567
Accrued vacation pay	208	217
Income taxes payable	101	109
Foreign currency forward exchange contracts	263
Other accruals	814	985
Total	$ 2,154	$ 2,343

XML 48 R36.htm IDEA: XBRL DOCUMENT

Line of Credit - Additional Information (Detail) - Agreement [Member] - Silicon Valley Bank [Member] - USD ($)		3 Months Ended
	Mar. 27, 2014	Mar. 31, 2016	Aug. 04, 2015
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,000,000		$ 7,000,000
Line of credit facility, interest rate description		Borrowings under the Credit Facility bear interest based on the face amount of the financed receivables at the prime rate plus 4.5% for domestic receivables and 3.53% for foreign receivables.
Amounts drawn against the Credit Facility		$ 0
Line of credit facility available		$ 7,000,000
Credit facility maturity date		Sep. 27, 2017
Domestic receivables [Member]
Line of Credit Facility [Line Items]
Eligible accounts receivable, advance rate	80.00%
Domestic receivables [Member] \| Prime rate [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate	4.50%
Foreign receivables [Member]
Line of Credit Facility [Line Items]
Eligible accounts receivable, advance rate	70.00%
Foreign receivables [Member] \| Prime rate [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate	3.53%

XML 49 R37.htm IDEA: XBRL DOCUMENT

Foreign Exchange Hedging Facility - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency forward exchange contracts	$ 263,000
Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency forward exchange contracts	263,000
Cash flow hedging loss on forward contracts	$ 169,000

XML 50 R38.htm IDEA: XBRL DOCUMENT

Geographic Information - Additional Information (Detail)	Mar. 31, 2016 Segment
Segment Reporting [Abstract]
Number of business segment operated currently	1

XML 51 R39.htm IDEA: XBRL DOCUMENT

Geographic Information - Schedule of Sales by Geographical Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	$ 9,410	$ 14,517
Central America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	3,635	3,298
South America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	1,618	3,176
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	1,782	3,795
U.S.-based Latin American Distributors [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	1,570	3,262
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	793	985
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales by geographical area	$ 12	$ 1

XML 52 R40.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Blue Spike Litigation [Member]
Loss Contingencies [Line Items]
Lawsuit filing date	Oct. 08, 2013
Additional lawsuit filing date	Nov. 19, 2015
Morpho Komodo Litigation [Member]
Loss Contingencies [Line Items]
Lawsuit filing date	Jun. 19, 2015

EXCEL 53 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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�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how.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 55 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 57 FilingSummary.xml IDEA: XBRL DOCUMENT 3.4.0.3 html 50 156 1 false 26 0 false 6 false false R1.htm 101 - Document - Document and Entity Information Sheet http://www.infosonics.com/taxonomy/role/DocumentandEntityInformation Document and Entity Information Cover 1 false false R2.htm 103 - Statement - Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) Sheet http://www.infosonics.com/taxonomy/role/StatementOfIncome Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) Statements 2 false false R3.htm 104 - Statement - Consolidated Balance Sheets Sheet http://www.infosonics.com/taxonomy/role/StatementOfFinancialPositionClassified Consolidated Balance Sheets Statements 3 false false R4.htm 105 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://www.infosonics.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical Consolidated Balance Sheets (Parenthetical) Statements 4 false false R5.htm 106 - Statement - Consolidated Statements of Cash Flows (unaudited) Sheet http://www.infosonics.com/taxonomy/role/StatementOfCashFlowsIndirect Consolidated Statements of Cash Flows (unaudited) Statements 5 false false R6.htm 107 - Disclosure - Basis of Presentation Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock Basis of Presentation Notes 6 false false R7.htm 108 - Disclosure - Stock-Based Compensation Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock Stock-Based Compensation Notes 7 false false R8.htm 109 - Disclosure - Earnings Per Share Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock Earnings Per Share Notes 8 false false R9.htm 110 - Disclosure - Income Taxes Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock Income Taxes Notes 9 false false R10.htm 111 - Disclosure - Inventory Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock Inventory Notes 10 false false R11.htm 112 - Disclosure - Property and Equipment Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock Property and Equipment Notes 11 false false R12.htm 113 - Disclosure - Accrued Expenses Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock Accrued Expenses Notes 12 false false R13.htm 114 - Disclosure - Line of Credit Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock Line of Credit Notes 13 false false R14.htm 115 - Disclosure - Foreign Exchange Hedging Facility Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsDerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock Foreign Exchange Hedging Facility Notes 14 false false R15.htm 116 - Disclosure - Recent Accounting Pronouncements Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock Recent Accounting Pronouncements Notes 15 false false R16.htm 117 - Disclosure - Geographic Information Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock Geographic Information Notes 16 false false R17.htm 118 - Disclosure - Commitments and Contingencies Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock Commitments and Contingencies Notes 17 false false R18.htm 119 - Disclosure - Fair Value of Financial Instruments Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock Fair Value of Financial Instruments Notes 18 false false R19.htm 120 - Disclosure - Recent Accounting Pronouncements (Policies) Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlockPolicies Recent Accounting Pronouncements (Policies) Policies http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock 19 false false R20.htm 121 - Disclosure - Stock-Based Compensation (Tables) Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlockTables Stock-Based Compensation (Tables) Tables http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock 20 false false R21.htm 122 - Disclosure - Inventory (Tables) Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlockTables Inventory (Tables) Tables http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock 21 false false R22.htm 123 - Disclosure - Property and Equipment (Tables) Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlockTables Property and Equipment (Tables) Tables http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock 22 false false R23.htm 124 - Disclosure - Accrued Expenses (Tables) Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlockTables Accrued Expenses (Tables) Tables http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock 23 false false R24.htm 125 - Disclosure - Geographic Information (Tables) Sheet http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlockTables Geographic Information (Tables) Tables http://www.infosonics.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock 24 false false R25.htm 126 - Disclosure - Stock-Based Compensation - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureStockBasedCompensationAdditionalInformation Stock-Based Compensation - Additional Information (Detail) Details 25 false false R26.htm 127 - Disclosure - Stock-Based Compensation - Summary of Option Activity (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureStockBasedCompensationSummaryOfOptionActivity Stock-Based Compensation - Summary of Option Activity (Detail) Details 26 false false R27.htm 128 - Disclosure - Stock-Based Compensation - Summary of Non-Vested Options (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureStockBasedCompensationSummaryOfNonVestedOptions Stock-Based Compensation - Summary of Non-Vested Options (Detail) Details 27 false false R28.htm 129 - Disclosure - Stock-Based Compensation - Share-Based Compensation Included in Unaudited Results of Operations (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureStockBasedCompensationShareBasedCompensationIncludedInUnauditedResultsOfOperations Stock-Based Compensation - Share-Based Compensation Included in Unaudited Results of Operations (Detail) Details 28 false false R29.htm 130 - Disclosure - Earnings Per Share - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureEarningsPerShareAdditionalInformation Earnings Per Share - Additional Information (Detail) Details 29 false false R30.htm 131 - Disclosure - Income Taxes - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureIncomeTaxesAdditionalInformation Income Taxes - Additional Information (Detail) Details 30 false false R31.htm 132 - Disclosure - Inventory - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureInventoryAdditionalInformation Inventory - Additional Information (Detail) Details 31 false false R32.htm 133 - Disclosure - Inventory - Schedule of Inventory (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureInventoryScheduleOfInventory Inventory - Schedule of Inventory (Detail) Details 32 false false R33.htm 134 - Disclosure - Property and Equipment - Summary of Property and Equipment (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosurePropertyAndEquipmentSummaryOfPropertyAndEquipment Property and Equipment - Summary of Property and Equipment (Detail) Details 33 false false R34.htm 135 - Disclosure - Property and Equipment - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosurePropertyAndEquipmentAdditionalInformation Property and Equipment - Additional Information (Detail) Details 34 false false R35.htm 136 - Disclosure - Accrued Expenses - Schedule of Accrued Expenses (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureAccruedExpensesScheduleOfAccruedExpenses Accrued Expenses - Schedule of Accrued Expenses (Detail) Details 35 false false R36.htm 137 - Disclosure - Line of Credit - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureLineOfCreditAdditionalInformation Line of Credit - Additional Information (Detail) Details 36 false false R37.htm 138 - Disclosure - Foreign Exchange Hedging Facility - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureForeignExchangeHedgingFacilityAdditionalInformation Foreign Exchange Hedging Facility - Additional Information (Detail) Details 37 false false R38.htm 139 - Disclosure - Geographic Information - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureGeographicInformationAdditionalInformation Geographic Information - Additional Information (Detail) Details 38 false false R39.htm 140 - Disclosure - Geographic Information - Schedule of Sales by Geographical Area (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureGeographicInformationScheduleOfSalesByGeographicalArea Geographic Information - Schedule of Sales by Geographical Area (Detail) Details 39 false false R40.htm 141 - Disclosure - Commitments and Contingencies - Additional Information (Detail) Sheet http://www.infosonics.com/taxonomy/role/DisclosureCommitmentsAndContingenciesAdditionalInformation Commitments and Contingencies - Additional Information (Detail) Details 40 false false All Reports Book All Reports ifon-20160331.xml ifon-20160331.xsd ifon-20160331_cal.xml ifon-20160331_def.xml ifon-20160331_lab.xml ifon-20160331_pre.xml true true ZIP 59 0001193125-16-580692-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-16-580692-xbrl.zip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end