2022 Q4 Form 10-K Financial Statement

#000143774922029891 Filed on December 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2022
Revenue $734.8K $811.8K $2.928M
YoY Change 12.88% 10.43% 44.33%
Cost Of Revenue $13.62K $12.00K $45.95K
YoY Change 18.91% -68.55% 20.45%
Gross Profit $721.2K $799.8K $2.882M
YoY Change 12.77% 14.76% 44.79%
Gross Profit Margin 98.15% 98.52% 98.43%
Selling, General & Admin $513.2K $460.0K $2.399M
YoY Change -49.09% 4.74% 23.28%
% of Gross Profit 71.17% 57.51% 83.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $112.5K $112.5K $449.9K
YoY Change 0.0% 0.0% -0.14%
% of Gross Profit 15.6% 14.06% 15.61%
Operating Expenses $513.2K $459.9K $2.399M
YoY Change -49.09% 4.74% 23.28%
Operating Profit $207.9K $339.8K $482.7K
YoY Change -156.4% 31.82% 989.85%
Interest Expense -$185.2K -$167.0K -$656.0K
YoY Change 12.63% -22.45% -27.69%
% of Operating Profit -89.06% -49.15% -135.89%
Other Income/Expense, Net -$185.2K -$656.0K
YoY Change 12.63% -27.69%
Pretax Income $22.75K $172.8K -$173.2K
YoY Change -104.27% 307.19% -79.92%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $22.75K $172.8K -$173.2K
YoY Change -104.27% 307.19% -79.92%
Net Earnings / Revenue 3.1% 21.29% -5.92%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 $7.102K -$7.119K
COMMON SHARES
Basic Shares Outstanding 24.39M 24.39M 24.33M
Diluted Shares Outstanding 24.39M 24.33M

Balance Sheet

Concept 2022 Q4 2022 Q3 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.273M $1.341M $1.341M
YoY Change 71.85% 92.59% 92.59%
Cash & Equivalents $1.273M $1.341M $1.341M
Short-Term Investments
Other Short-Term Assets $13.30K $72.74K $72.74K
YoY Change 30.26% 216.81% 216.81%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $294.7K $294.7K
Total Short-Term Assets $1.561M $1.709M $1.709M
YoY Change 51.46% 67.54% 67.54%
LONG-TERM ASSETS
Property, Plant & Equipment $13.64M $13.73M $13.73M
YoY Change -2.31% -1.95% -1.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $13.64M $13.73M $13.73M
YoY Change -2.53% -2.25% -2.25%
TOTAL ASSETS
Total Short-Term Assets $1.561M $1.709M $1.709M
Total Long-Term Assets $13.64M $13.73M $13.73M
Total Assets $15.20M $15.44M $15.44M
YoY Change 1.17% 2.47% 2.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $129.8K $193.2K $82.50K
YoY Change 92.36% 98.12% -15.38%
Accrued Expenses $58.00K $65.25K $65.25K
YoY Change -29.65% 0.96% 0.96%
Deferred Revenue
YoY Change
Short-Term Debt $4.386M $150.0K $150.0K
YoY Change 2824.23% 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.581M $499.5K $499.5K
YoY Change 782.2% -2.87% -2.87%
LONG-TERM LIABILITIES
Long-Term Debt $581.7K $4.919M $4.919M
YoY Change -87.98% 2.23% 2.23%
Other Long-Term Liabilities $4.214M $4.217M $4.217M
YoY Change -0.27% -0.27% -0.27%
Total Long-Term Liabilities $4.795M $9.136M $9.136M
YoY Change -47.09% 1.06% 1.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.581M $499.5K $499.5K
Total Long-Term Liabilities $4.795M $9.136M $9.136M
Total Liabilities $9.376M $9.635M $9.635M
YoY Change -2.16% 0.85% 0.85%
SHAREHOLDERS EQUITY
Retained Earnings -$19.74M -$19.76M
YoY Change -1.9% 0.88%
Common Stock $2.439K $2.439K
YoY Change 0.0% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.825M $5.802M $5.802M
YoY Change
Total Liabilities & Shareholders Equity $15.20M $15.44M $15.44M
YoY Change 1.17% 2.47% 2.47%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2022
OPERATING ACTIVITIES
Net Income $22.75K $172.8K -$173.2K
YoY Change -104.27% 307.19% -79.92%
Depreciation, Depletion And Amortization $112.5K $112.5K $449.9K
YoY Change 0.0% 0.0% -0.14%
Cash From Operating Activities $111.3K $364.3K $848.7K
YoY Change -11.22% 145.98% -408.46%
INVESTING ACTIVITIES
Capital Expenditures $40.68K -$23.27K -$245.6K
YoY Change -144.96% -60.37% 162.93%
Acquisitions
YoY Change
Other Investing Activities $11.60K $14.68K $41.56K
YoY Change 19.46% 58.19% 19.56%
Cash From Investing Activities -$29.08K -$8.570K -$204.0K
YoY Change -64.0% -82.67% 247.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$150.0K 0.000 $0.00
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities $111.3K 364.3K $848.7K
Cash From Investing Activities -$29.08K -8.570K -$204.0K
Cash From Financing Activities -$150.0K 0.000 $0.00
Net Change In Cash -$67.81K 355.7K $644.7K
YoY Change -252.23% -276.64% 25.63%
FREE CASH FLOW
Cash From Operating Activities $111.3K $364.3K $848.7K
Capital Expenditures $40.68K -$23.27K -$245.6K
Free Cash Flow $70.59K $387.5K $1.094M
YoY Change -67.29% 87.39% -702.09%

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<i>Use of Estimates</i>The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant estimates and assumptions made by management are valuation of equity instruments, deferred tax asset valuation and allowance and collectability of accounts receivable and long-lived assets. Actual results could differ from those estimates as the current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions.  
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