Company Quick10K Filing
Clearsign Combustion
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 27 $28
10-Q 2019-11-13 Quarter: 2019-09-30
10-Q 2019-08-14 Quarter: 2019-06-30
10-Q 2019-05-14 Quarter: 2019-03-31
10-K 2019-03-12 Annual: 2018-12-31
10-Q 2018-11-08 Quarter: 2018-09-30
10-Q 2018-08-13 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-03-27 Annual: 2017-12-31
10-Q 2017-11-09 Quarter: 2017-09-30
10-Q 2017-08-14 Quarter: 2017-06-30
10-Q 2017-05-11 Quarter: 2017-03-31
10-K 2017-02-14 Annual: 2016-12-31
10-Q 2016-11-14 Quarter: 2016-09-30
10-Q 2016-08-11 Quarter: 2016-06-30
10-Q 2016-05-12 Quarter: 2016-03-31
10-K 2016-03-03 Annual: 2015-12-31
10-Q 2015-11-12 Quarter: 2015-09-30
10-Q 2015-08-13 Quarter: 2015-06-30
10-Q 2015-05-14 Quarter: 2015-03-31
10-K 2015-02-26 Annual: 2014-12-31
10-Q 2014-11-13 Quarter: 2014-09-30
10-Q 2014-08-12 Quarter: 2014-06-30
10-Q 2014-05-08 Quarter: 2014-03-31
10-K 2014-03-11 Annual: 2013-12-31
10-Q 2013-11-12 Quarter: 2013-09-30
10-Q 2013-08-14 Quarter: 2013-06-30
10-Q 2013-05-06 Quarter: 2013-03-31
10-K 2013-02-22 Annual: 2012-12-31
10-Q 2012-11-08 Quarter: 2012-09-30
10-Q 2012-08-06 Quarter: 2012-06-30
10-Q 2012-06-11 Quarter: 2012-03-31
8-K 2020-02-13 Officers, Regulation FD, Other Events, Exhibits
8-K 2020-01-15
8-K 2020-01-09 Officers
8-K 2019-11-13 Regulation FD, Exhibits
8-K 2019-09-25 Impairments
8-K 2019-08-26 Enter Agreement, Exhibits
8-K 2019-08-14 Regulation FD, Exhibits
8-K 2019-07-10 Regulation FD, Exhibits
8-K 2019-07-09 Other Events
8-K 2019-06-11 Amend Bylaw, Exhibits
8-K 2019-05-08 Earnings, Exhibits
8-K 2019-05-08 Earnings, Officers, Shareholder Vote, Regulation FD, Exhibits
8-K 2019-04-17
8-K 2019-04-01 Officers
8-K 2019-03-19 Regulation FD, Other Events, Exhibits
8-K 2019-02-20 Earnings, Exhibits
8-K 2019-02-06 Officers, Other Events
8-K 2019-01-24 Enter Agreement, Officers, Regulation FD, Exhibits
8-K 2019-01-04 Enter Agreement, Officers, Exhibits
8-K 2019-01-04
8-K 2018-12-31 Enter Agreement, Officers, Exhibits
8-K 2018-11-08 Regulation FD, Exhibits
8-K 2018-10-02 Amend Bylaw
8-K 2018-10-01 Officers, Regulation FD, Other Events, Exhibits
8-K 2018-08-29 Regulation FD, Exhibits
8-K 2018-08-13 Regulation FD, Exhibits
8-K 2018-07-20 Sale of Shares, Officers, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-07-12 Enter Agreement, Regulation FD, Exhibits
8-K 2018-05-11 Regulation FD, Exhibits
8-K 2018-05-03 Shareholder Vote
8-K 2018-04-12 Officers
8-K 2018-03-27 Regulation FD, Exhibits
8-K 2018-02-23 Enter Agreement, Other Events, Exhibits
8-K 2018-02-16 Officers
8-K 2018-02-08 Officers, Amend Bylaw
8-K 2018-01-16 Officers, Other Events

Clearsign Combustion Financials

CLIR Metrics, Comps, Filings

Annual | Quarterly

Business

We design and develop technologies for the purpose of improving key performance characteristics of combustion systems, including emission and operational performance, energy efficiency and overall cost-effectiveness. We believe that our patented Duplex™ technology is capable of enhancing the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), institutional commercial and industrial boiler, chemical, and petrochemical industries. Our Duplex technology, which is our primary technology, uses a porous ceramic matrix at a distance to a burner to significantly reduce flame length and achieve very low emissions without the need for external flue gas recirculation, selective catalytic reduction, or excess air systems. To date, our operations have been funded primarily through sales of our equity securities. We have earned nominal revenue since inception in 2008.

Duplex has been successfully installed in 11 commercial projects across four different combustion applications. In addition, we have two ongoing projects that, if successful, will increase our installed project base and number of distinct applications. Based on the results of our laboratory and field testing, as well as our initial commercialized installations in different applications, we believe that this proprietary technology is capable of improving emissions control performance and operational performance for many types of industrial and commercial combustion systems. As a result, we also believe that Duplex may reduce costs associated with the construction (including refurbishment and upgrade), operation and maintenance of these combustion systems as compared to combustion systems that use no or alternative technology to enhance combustion and control emissions.

Based on the results of our testing and initial 11 field installations, we believe that Duplex compares favorably with current industry-standard air pollution control technologies, such as selective catalytic reduction devices, low- and ultra-low NOx burners (which address nitrogen oxides or NOx), external flue gas recirculation systems and other similar technologies. Such systems are used in our current target market segments of petroleum refining and petrochemical process heaters, large-scale once through steam generators (OTSGs), enclosed flares, institutional commercial and industrial boilers and other similar equipment.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Taylor Devices (TAYD) 42,439 26% 9.8 5% 41,141 4,409 32,014 8,424 2,158 3,637 35,709
Ballantyne Strong (BTN) 41,089 22% -6.4 -15% 61,112 33,840 63,259 13,918 -9,354 -6,661 42,375
Polar Power (POLA) 40,573 30% 80.7 -0% 29,561 6,384 30,342 9,240 -115 446 35,977
LS Starrett (SCX) 39,275 33% 4.5 3% 190,087 106,708 228,022 74,560 6,079 10,027 45,299
Libbey (LBY) 38,976 20% 22.5 -8% 758,607 761,278 786,569 155,411 -57,292 19,174 430,491
LGL Group (LGL) 38,934 0% 10.1 7% 33,339 4,215 27,238 0 2,261 2,879 29,114
Carbo Ceramics (CRR) 38,485 -12% -1.0 -16% 464,245 158,214 193,946 -23,151 -74,547 -48,821 49,667
Boxlight (BOXL) 31,136 27% -5.6 -32% 23,990 20,502 38,290 10,280 -7,665 -5,688 32,037
Reto Eco-Solutions (RETO) 30,726 0% 82,005 28,824 0 0 0 0 37,741
P&F Industries (PFIN) 28,331 47% 2.6 11% 58,421 10,927 47,910 22,677 6,148 10,258 26,659
Clearsign Combustion (CLIR) 28,037 -2.0 -67% 14,240 1,536 0 -13 -9,588 -9,354 18,380
Image Sensing Systems (ISNS) 27,821 121% 7.5 17% 13,475 1,773 9,594 11,641 2,323 3,128 23,592
Servotronics (SVT) 25,893 24% 5.0 7% 43,948 12,032 51,422 12,453 3,272 5,472 27,417
Chicago Rivet & Machine (CVR) 25,061 19% 17.4 3% 32,758 3,196 34,867 6,484 1,107 1,389 24,153
Sypris Solutions (SYPR) 23,889 9% 178.2 -5% 65,779 50,674 89,064 8,187 -3,326 109 19,427
CVD Equipment (CVV) 23,336 2% -4.2 -16% 49,316 16,116 17,132 406 -7,999 -6,541 27,338
Neonode (NEON) 19,889 89% -6.7 -29% 11,346 3,719 7,918 7,051 -3,240 -2,270 15,251
Dynasil of America (DYSL) 17,216 36% 8.1 2% 32,090 9,877 43,346 15,733 536 2,286 18,494
Ikonics (IKNX) 13,662 32% 60.8 -3% 16,700 4,177 17,633 5,667 -446 267 16,252
Bonso Electronics (BNSO) 13,592 0% 22,486 7,337 0 0 0 0 8,550

Balance Sheet ($'000)2012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash8,0272,6881,84510,9851,2591,2478,949
Accounts Receivable1030
Inventory
PP&E400427263123144498457
Assets9,1154,7024,59914,2023,7864,16118,637
Accounts Payable2762972534957557681,080
Long-Term Debt
Liabilities4799141,6401,6241,5421,7291,728
Stockholders' Equity8,6363,7882,95912,5782,2442,43216,909
Income Statement ($'000)2012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue61621540530
Cost of Revenue50485380427
Gross Profit5011136160103
R&D1,1841,8512,2172,9324,8314,7124,052
SG&A3,0263,4505,0845,0216,5105,1605,622
Tax
Net Income-4,189-5,285-7,296-7,898-11,173-9,680-9,500
Cash Flow ($'000)2012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating-3,188-4,297-5,469-6,261-8,672-8,258-8,384
Cash Investing-868-1,081-1,254-1,162-1,054-421-7,425
Cash Financing11,153395,88016,56308,66723,511