2023 Q1 Form 10-K Financial Statement

#000149315223005208 Filed on February 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $816.8K $844.5K $3.476M
YoY Change 482.0%
% of Gross Profit
Research & Development $15.60K $133.1K $266.9K
YoY Change -26.21% 263.99%
% of Gross Profit
Depreciation & Amortization $908.00 $910.00 $3.321K
YoY Change 34.12%
% of Gross Profit
Operating Expenses $833.3K $978.5K $3.746M
YoY Change 5.41% 458.66%
Operating Profit -$833.3K -$3.746M
YoY Change 5.41% 458.66%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$833.3K -$978.5K -$3.746M
YoY Change 5.41% 458.66%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$833.3K -$978.5K -$3.746M
YoY Change 5.41% 458.66%
Net Earnings / Revenue
Basic Earnings Per Share -$0.07 -$0.34
Diluted Earnings Per Share -$0.07 -$0.09 -$0.34
COMMON SHARES
Basic Shares Outstanding 11.35M shares 11.35M shares 11.02M shares
Diluted Shares Outstanding 11.35M shares 11.02M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.6K $734.0K $734.0K
YoY Change
Cash & Equivalents $180.6K $734.0K $734.0K
Short-Term Investments
Other Short-Term Assets $29.60K $198.0K
YoY Change
Inventory
Prepaid Expenses $60.15K $168.4K
Receivables
Other Receivables
Total Short-Term Assets $240.8K $932.0K $932.0K
YoY Change -31.13% -31.13%
LONG-TERM ASSETS
Property, Plant & Equipment $6.770K $7.678K $7.680K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.770K $7.678K $7.680K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $240.8K $932.0K $932.0K
Total Long-Term Assets $6.770K $7.678K $7.680K
Total Assets $247.6K $939.7K $939.7K
YoY Change -30.57% -30.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $307.1K $311.8K $311.8K
YoY Change -19.77% -19.77%
Accrued Expenses $723.9K $518.6K $518.6K
YoY Change 321.03% 321.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $106.6K $106.6K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.194M $1.079M $1.079M
YoY Change 53.58% 53.58%
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 $1.194M $1.079M $1.079M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.194M $1.079M $1.079M
YoY Change 53.58% 53.58%
SHAREHOLDERS EQUITY
Retained Earnings -$5.305M -$4.471M
YoY Change 516.85%
Common Stock $11.35K $11.35K
YoY Change 13.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$946.7K -$139.6K -$139.6K
YoY Change
Total Liabilities & Shareholders Equity $247.6K $939.7K $939.7K
YoY Change -30.57% -30.57%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$833.3K -$978.5K -$3.746M
YoY Change 5.41% 458.66%
Depreciation, Depletion And Amortization $908.00 $910.00 $3.321K
YoY Change 34.12%
Cash From Operating Activities -$446.1K -$490.7K -$1.806M
YoY Change -219.92%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $11.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$11.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.676M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$107.3K -107.3K $2.551M
YoY Change -103.72%
NET CHANGE
Cash From Operating Activities -$446.1K -490.7K -$1.806M
Cash From Investing Activities 0.000 -$11.00K
Cash From Financing Activities -$107.3K -107.3K $2.551M
Net Change In Cash -$553.3K -598.0K $734.0K
YoY Change -117.05%
FREE CASH FLOW
Cash From Operating Activities -$446.1K -$490.7K -$1.806M
Capital Expenditures $0.00 $11.00K
Free Cash Flow -$446.1K -$490.7K -$1.817M
YoY Change -222.63%

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IncreaseDecreaseInAccountsPayable
394666 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
48609 usd
CY2021 us-gaap Increase Decrease In Due From Related Parties Current
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-172966 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
401130 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
81722 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1806053 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10999 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10999 usd
CY2022 ACUT Proceeds From Receipt Of Subscription Receivable
ProceedsFromReceiptOfSubscriptionReceivable
204879 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8469 usd
CY2022 us-gaap Repayments Of Notes Payable
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338258 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2551030 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
733978 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
733978 usd
CY2022 us-gaap Notes Issued1
NotesIssued1
439122 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
7474 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-3746419 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4471281 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_zHV52fsmCAb4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_z77F8dgjQbC9">Use of Estimates</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management of the Company 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 financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
106551 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10999 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3321 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7678 usd
CY2022 us-gaap Depreciation
Depreciation
3321 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-3746419 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-670614 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3746419 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-670614 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11016165 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9999132 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1710115 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100005 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
100005 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.42
CY2021 ACUT Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Remaining Contractual Life
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageRemainingContractualLife
P10Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
100005 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.42
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y8M19D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
100005 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0.42
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P9Y8M19D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0154 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.042 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0031 pure
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.572 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.657 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5900 pure
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
872662 usd
CY2022 us-gaap Related Party Costs
RelatedPartyCosts
35668 usd
CY2021 us-gaap Related Party Costs
RelatedPartyCosts
12434 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.2100 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.2100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.0096 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.0000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.0256 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.0000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.1884 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2329 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0136 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0033 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0000 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0196 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
731909 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
169721 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
88423 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
252 usd
CY2022Q4 ACUT Deferred Tax Assets Patents
DeferredTaxAssetsPatents
25998 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
28793 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
875375 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
169721 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
875375 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
169721 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
875375 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
169721 usd

Files In Submission

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acut-20221231_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001493152-23-005208-index-headers.html Edgar Link pending
0001493152-23-005208-index.html Edgar Link pending
0001493152-23-005208.txt Edgar Link pending
0001493152-23-005208-xbrl.zip Edgar Link pending
acut-20221231.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
ex4-4.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
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R1.htm Edgar Link pending
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R5.htm Edgar Link pending
acut-20221231_def.xml Edgar Link unprocessable
acut-20221231_pre.xml Edgar Link unprocessable
acut-20221231_lab.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
R6.htm Edgar Link pending
R7.htm Edgar Link pending
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report.css Edgar Link pending
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