$ACAN
AmeriCann, Inc.

2023 Q3 Form 10-Q Financial Statement

#000143774923023496 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $486.2K $582.9K
YoY Change -40.11% -26.93%
Cost Of Revenue $2.560K $0.00
YoY Change -78.67% -100.0%
Gross Profit $483.6K $582.9K
YoY Change -39.53% -25.82%
Gross Profit Margin 99.47% 100.0%
Selling, General & Admin $477.7K $454.2K
YoY Change 3.85% -1.11%
% of Gross Profit 98.77% 77.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $115.9K $115.6K
YoY Change 3.03% 2.75%
% of Gross Profit 23.96% 19.83%
Operating Expenses $477.7K $454.2K
YoY Change 3.85% -1.11%
Operating Profit $5.940K $128.7K
YoY Change -98.25% -60.58%
Interest Expense -$154.1K -$184.6K
YoY Change -7.71% 12.77%
% of Operating Profit -2594.78% -143.46%
Other Income/Expense, Net -$184.6K
YoY Change 12.78%
Pretax Income -$148.2K -$55.93K
YoY Change -185.76% -134.37%
Income Tax
% Of Pretax Income
Net Earnings -$148.2K -$55.93K
YoY Change -185.76% -134.37%
Net Earnings / Revenue -30.48% -9.59%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 24.39M 24.39M
Diluted Shares Outstanding 24.39M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.135M $1.392M
YoY Change -15.37% 41.25%
Cash & Equivalents $1.135M $1.392M
Short-Term Investments
Other Short-Term Assets $33.39K $33.30K
YoY Change -54.1% -58.24%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.334M $1.654M
YoY Change -21.92% 17.32%
LONG-TERM ASSETS
Property, Plant & Equipment $13.48M $13.61M
YoY Change -1.79% -1.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $13.82M $13.61M
YoY Change 0.67% -1.64%
TOTAL ASSETS
Total Short-Term Assets $1.334M $1.654M
Total Long-Term Assets $13.82M $13.61M
Total Assets $15.15M $15.27M
YoY Change -1.83% 0.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.3K $79.68K
YoY Change -47.07% -3.42%
Accrued Expenses $52.89K $52.65K
YoY Change -18.94% -21.01%
Deferred Revenue
YoY Change
Short-Term Debt $5.082M $4.484M
YoY Change 3287.77% 2889.18%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.243M $4.624M
YoY Change 949.62% 801.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $581.7K
YoY Change -100.0% -88.11%
Other Long-Term Liabilities $4.204M $4.208M
YoY Change -0.29% -0.28%
Total Long-Term Liabilities $4.204M $4.789M
YoY Change -53.98% -47.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.243M $4.624M
Total Long-Term Liabilities $4.204M $4.789M
Total Liabilities $9.448M $9.413M
YoY Change -1.95% -2.18%
SHAREHOLDERS EQUITY
Retained Earnings -$19.85M -$19.71M
YoY Change 0.48% -1.14%
Common Stock $2.439K $2.439K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.707M $5.856M
YoY Change
Total Liabilities & Shareholders Equity $15.15M $15.27M
YoY Change -1.83% 0.11%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$148.2K -$55.93K
YoY Change -185.76% -134.37%
Depreciation, Depletion And Amortization $115.9K $115.6K
YoY Change 3.03% 2.75%
Cash From Operating Activities $129.9K $172.9K
YoY Change -64.35% -24.64%
INVESTING ACTIVITIES
Capital Expenditures -$830.00 $46.46K
YoY Change -96.43% -170.58%
Acquisitions
YoY Change
Other Investing Activities -$386.8K $12.69K
YoY Change -2735.01% 80.51%
Cash From Investing Activities -$396.0K -$33.77K
YoY Change 4520.54% -42.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 129.9K 172.9K
Cash From Investing Activities -396.0K -33.77K
Cash From Financing Activities 0.000 0.000
Net Change In Cash -266.1K 139.1K
YoY Change -174.82% -18.45%
FREE CASH FLOW
Cash From Operating Activities $129.9K $172.9K
Capital Expenditures -$830.00 $46.46K
Free Cash Flow $130.7K $126.4K
YoY Change -66.28% -57.18%

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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
85372 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
341500 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
341500 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
341500 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
341500 usd
CY2023Q2 acan Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
13318505 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14769877 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10550378 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4219499 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11967 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4207532 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
361031 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
354905 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1700000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.94
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y6M
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1700000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.94
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y8M12D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1700000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.94
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y8M12D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1700000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.94
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y8M12D
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4026650
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.21
CY2022 acan Class Of Warrant Or Right Outstanding Weighted Average Remaining Contract Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractTerm
P0Y9M18D
acan Class Of Warrant Or Right Expired During Period
ClassOfWarrantOrRightExpiredDuringPeriod
-1815000
acan Class Of Warrant Or Right Expired During Period Exercise Price
ClassOfWarrantOrRightExpiredDuringPeriodExercisePrice
1.50
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2211650
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.32
acan Class Of Warrant Or Right Outstanding Weighted Average Remaining Contract Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractTerm
P1Y3M18D
CY2023Q2 acan Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
2211650
CY2023Q2 acan Class Of Warrant Or Right Exercisable Exercise Price
ClassOfWarrantOrRightExercisableExercisePrice
1.32
acan Class Of Warrant Or Right Exercisable Weighted Average Remaining Contract Term
ClassOfWarrantOrRightExercisableWeightedAverageRemainingContractTerm
P1Y3M18D

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