2023 Q2 Form 10-Q Financial Statement
#000114036123022379 Filed on May 02, 2023
Income Statement
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $1.200M | $1.179M | $1.046M |
| YoY Change | 23.84% | 12.72% | -35.51% |
| % of Gross Profit | |||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | |||
| YoY Change | |||
| % of Gross Profit | |||
| Operating Expenses | $1.200M | $1.192M | $1.057M |
| YoY Change | 22.08% | 12.77% | -35.35% |
| Operating Profit | -$1.247M | -$1.192M | -$1.057M |
| YoY Change | 26.86% | 12.77% | -35.35% |
| Interest Expense | $22.00K | $29.00K | $0.00 |
| YoY Change | 2100.0% | -100.0% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | -$1.269M | -$1.220M | -$1.057M |
| YoY Change | 29.23% | 15.42% | -35.31% |
| Income Tax | $0.00 | $0.00 | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$1.269M | -$1.220M | -$1.057M |
| YoY Change | 29.09% | 15.42% | -35.35% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.03 | -$0.03 | -$0.03 |
| Diluted Earnings Per Share | -$0.03 | -$0.03 | -$25.95K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 40.74M | 40.74M | 40.74M |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $0.00 | $44.00K | $2.121M |
| YoY Change | -100.0% | -97.93% | -67.6% |
| Cash & Equivalents | $89.00K | $44.00K | $2.121M |
| Short-Term Investments | |||
| Other Short-Term Assets | |||
| YoY Change | |||
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $44.00K | $2.121M | |
| YoY Change | -97.93% | -67.6% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | |||
| YoY Change | |||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $31.00K | $40.00K | |
| YoY Change | -22.5% | 21.21% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $44.00K | $2.121M | |
| Total Long-Term Assets | $31.00K | $40.00K | |
| Total Assets | $89.00K | $75.00K | $2.161M |
| YoY Change | -94.14% | -96.53% | -67.16% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.000M | $2.069M | $819.0K |
| YoY Change | 72.27% | 152.63% | 34.7% |
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $1.000M | $300.0K | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $3.000M | $2.369M | $819.0K |
| YoY Change | 158.4% | 189.26% | 34.7% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $3.000M | $2.369M | $819.0K |
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Total Liabilities | $3.652M | $2.369M | $819.0K |
| YoY Change | 214.56% | 189.26% | 34.7% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$547.2M | -$545.9M | |
| YoY Change | 0.72% | ||
| Common Stock | $548.8M | $548.8M | |
| YoY Change | 0.0% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$3.563M | -$2.294M | $1.342M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $89.00K | $75.00K | $2.161M |
| YoY Change | -94.14% | -96.53% | -67.16% |
Cashflow Statement
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$1.269M | -$1.220M | -$1.057M |
| YoY Change | 29.09% | 15.42% | -35.35% |
| Depreciation, Depletion And Amortization | |||
| YoY Change | |||
| Cash From Operating Activities | -$900.0K | -$605.0K | -$882.0K |
| YoY Change | 49.75% | -31.41% | -35.99% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | |||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | |||
| YoY Change | |||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 1.000M | 300.0K | 0.000 |
| YoY Change | |||
| NET CHANGE | |||
| Cash From Operating Activities | -900.0K | -605.0K | -882.0K |
| Cash From Investing Activities | |||
| Cash From Financing Activities | 1.000M | 300.0K | 0.000 |
| Net Change In Cash | 100.0K | -305.0K | -882.0K |
| YoY Change | -116.64% | -65.42% | -35.99% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$900.0K | -$605.0K | -$882.0K |
| Capital Expenditures | |||
| Free Cash Flow | |||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q1 | abcp |
Subordinated Participation Interest To Ceo
SubordinatedParticipationInterestToCeo
|
0.10 | |
| CY2014Q1 | abcp |
Percentage Of Distribution On Company S Initial Investment To Be Received Prior To Ceo Receiving Percentage Distribution
PercentageOfDistributionOnCompanySInitialInvestmentToBeReceivedPriorToCEOReceivingPercentageDistribution
|
1.50 | |
| CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
| CY2023Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
| CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
| CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000020639 | |
| CY2023Q1 | abcp |
Equity Method Investment Description Of Distribution
EquityMethodInvestmentDescriptionOfDistribution
|
The JV Agreement and related operating agreements generally provide that all distributable cash shall be distributed as follows: (i) first, 100% to the members in proportion to their percentage interests until Investment LLC has received distributions yielding a 20% internal rate of return as calculated; (ii) second, 100% to the Sponsor as a return of (but not a return on) any additional capital contributions made by the Sponsor on account of manager overruns; and (iii) thereafter, (a) 50% to the members in proportion to their respective percentage interests at the time of such distribution, and (b) 50% to the Sponsor. | |
| CY2023Q1 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
51000 | |
| CY2022Q1 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
51000 | |
| CY2023Q1 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
1 | |
| CY2022Q1 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
1 | |
| CY2023Q1 | abcp |
Loss Contingency Claims Dismissed Number Of Claims Whose Dismissal Was Compelled By Prior Decision
LossContingencyClaimsDismissedNumberOfClaimsWhoseDismissalWasCompelledByPriorDecision
|
3 | |
| CY2023Q1 | abcp |
Loss Contingency Number Of Counterclaims
LossContingencyNumberOfCounterclaims
|
2 | |
| CY2023Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
300000 | |
| CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
0 | |
| CY2023Q1 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
3000 | |
| CY2022Q4 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
0 |
