000-53981
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20-8610073
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(Commission File Number)
|
(IRS Employer Identification No.)
|
|
|
101 W. Renner Rd., Suite 200
Richardson, TX
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75082
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(Address of principal executive offices)
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(Zip Code)
|
BLUE CALYPSO, INC. | |||
Date: May 16, 2016
|
By:
|
/s/ Andrew Levi | |
Andrew Levi | |||
Chief Executive Officer | |||
·
|
Revenue in Q1 2016 increased 128% to $0.3 million.
|
·
|
Total operating expenses increased to $1.1 million versus $0.7 million in Q1 2015.
|
·
|
Net loss in Q1 2016 totaled $0.9 million versus net loss of $0.6 million in Q1 2015.
|
·
|
Extinguished all outstanding convertible notes payable and associated accrued interest.
|
·
|
Reached settlement-in-principal with one of two remaining defendants in patent litigation.
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·
|
Deployed KIOSentrix® platform across 4,000 U.S. retail locations and 20,000 products.
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·
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Received strategic investment from loyalty program innovator Hal Brierley.
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·
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Granted patent for advertising distribution through mobile social gaming.
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·
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Partnered with the Salem Red Sox to deliver mobile fan engagement.
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·
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Recognized among Top 10 Merchandising Solution Providers 2016 by Retail CIO Outlook.
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·
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Engaged MZ Group to lead new strategic investor relations program.
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Date:
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Monday, May 16, 2016
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Time:
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4:30 p.m. Eastern time (1:30 p.m. Pacific time)
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Toll-free dial-in number:
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1-877-407-8033
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International dial-in number:
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1-201-689-8033
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Conference ID:
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13636504
|
Toll-free replay number:
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1-877-660-6853
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International replay number:
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1-201-612-7415
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Replay ID:
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13636504
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March 31,
|
December 31,
|
||||||
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2016
|
2015
|
||||||
|
(unaudited)
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash
|
$
|
212,150
|
$
|
730,482
|
||||
Accounts receivable
|
352,796
|
247,131
|
||||||
Inventory
|
41,615
|
41,653
|
||||||
Prepaid expenses and other
|
40,676
|
42,370
|
||||||
Total current assets
|
647,237
|
1,061,636
|
||||||
|
||||||||
Property and equipment, net
|
6,298
|
6,682
|
||||||
|
||||||||
Other assets:
|
||||||||
Accounts receivable, long term portion
|
47,627
|
71,440
|
||||||
Capitalized software development costs, net of accumulated amortization of $1,455,549 and $1,344,672 as of March 31, 2016 and December 31, 2015, respectively
|
810,373
|
817,548
|
||||||
|
||||||||
Total assets
|
$
|
1,511,535
|
$
|
1,957,306
|
||||
|
||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
108,582
|
$
|
103,936
|
||||
Accrued expenses
|
42,062
|
44,190
|
||||||
Settlement payable, short term portion
|
95,253
|
119,066
|
||||||
Convertible note payable, net of debt discounts of $-0- and $119,115, respectively
|
-
|
180,885
|
||||||
Deferred rent, short term portion
|
2,048
|
2,048
|
||||||
Derivative liabilities
|
-
|
170,497
|
||||||
Total current liabilities
|
247,945
|
620,622
|
||||||
|
||||||||
Long term debt:
|
||||||||
Settlement payable, long term
|
47,627
|
71,440
|
||||||
Deferred rent, long term portion
|
793
|
1,211
|
||||||
Total liabilities
|
296,365
|
693,273
|
||||||
|
||||||||
Stockholders' equity:
|
||||||||
Preferred stock, $0.0001 par value; 5,000,000 shares authorized: Series A convertible preferred stock, $0.0001 par value; 1,700,000 shares designated; none issued and outstanding
|
-
|
-
|
||||||
Common stock, $0.0001 par value; 13,600,000 shares authorized, 6,029,553 and 5,522,146 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively
|
602
|
552
|
||||||
Additional paid in capital
|
37,569,180
|
36,733,865
|
||||||
Accumulated deficit
|
(36,354,612
|
)
|
(35,470,384
|
)
|
||||
Total stockholders' equity
|
1,215,170
|
1,264,033
|
||||||
|
||||||||
Total liabilities and stockholders' equity
|
$
|
1,511,535
|
$
|
1,957,306
|
|
Three months ended March 31,
|
|||||||
|
2016
|
2015
|
||||||
REVENUE
|
$
|
263,338
|
$
|
115,725
|
||||
|
||||||||
OPERATING EXPENSES:
|
||||||||
Cost of sales
|
90,400
|
55,112
|
||||||
Sales and marketing
|
135,639
|
48,574
|
||||||
General and administrative
|
797,461
|
535,547
|
||||||
Depreciation and amortization
|
111,261
|
84,621
|
||||||
Total operating expenses
|
1,134,761
|
723,854
|
||||||
|
||||||||
Loss from operations
|
(871,423
|
)
|
(608,129
|
)
|
||||
|
||||||||
Other income (expense):
|
||||||||
Change in fair value of derivative liabilities
|
101,381
|
-
|
||||||
Interest expense
|
(114,186
|
)
|
(716
|
)
|
||||
Total other income (expense)
|
(12,805
|
)
|
(716
|
)
|
||||
|
||||||||
NET LOSS
|
$
|
(884,228
|
)
|
$
|
(608,845
|
)
|
||
|
||||||||
Net loss per common share, basic and diluted
|
$
|
(0.16
|
)
|
$
|
(0.12
|
)
|
||
|
||||||||
Weighted average common shares outstanding, basic and diluted
|
5,667,751
|
4,917,672
|
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