2024 Q3 Form 10-Q Financial Statement
#000149315224036330 Filed on September 16, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
Revenue | $0.00 | |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $235.6K | |
YoY Change | -34.06% | |
% of Gross Profit | ||
Research & Development | $31.41K | $41.75K |
YoY Change | 57.43% | 186.42% |
% of Gross Profit | ||
Depreciation & Amortization | $907.00 | $907.00 |
YoY Change | 0.0% | 0.0% |
% of Gross Profit | ||
Operating Expenses | $328.2K | $278.2K |
YoY Change | -45.17% | -25.36% |
Operating Profit | -$328.2K | -$278.2K |
YoY Change | -45.17% | -25.36% |
Interest Expense | ||
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | -$328.2K | -$278.2K |
YoY Change | -45.17% | -25.36% |
Income Tax | $0.00 | |
% Of Pretax Income | ||
Net Earnings | -$328.2K | -$278.2K |
YoY Change | -45.17% | -25.36% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.03 | -$0.02 |
Diluted Earnings Per Share | -$0.03 | -$0.02 |
COMMON SHARES | ||
Basic Shares Outstanding | 11.35M shares | 11.35M shares |
Diluted Shares Outstanding | 11.35M shares | 11.35M shares |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $46.07K | |
YoY Change | -61.82% | |
Cash & Equivalents | $37.08K | $46.07K |
Short-Term Investments | ||
Other Short-Term Assets | $91.36K | |
YoY Change | ||
Inventory | ||
Prepaid Expenses | $65.41K | $91.36K |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $102.5K | $137.4K |
YoY Change | -59.43% | -69.64% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $1.325K | $2.233K |
YoY Change | -73.26% | -61.91% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $1.325K | $2.233K |
YoY Change | -73.26% | -61.91% |
TOTAL ASSETS | ||
Total Short-Term Assets | $102.5K | $137.4K |
Total Long-Term Assets | $1.325K | $2.233K |
Total Assets | $103.8K | $139.7K |
YoY Change | -59.69% | -69.54% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $790.2K | $744.7K |
YoY Change | 82.77% | 94.55% |
Accrued Expenses | $164.1K | $154.9K |
YoY Change | -64.76% | -58.31% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $81.22K | |
YoY Change | -72.73% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $3.297M | $3.024M |
YoY Change | 53.87% | 71.3% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.297M | $3.024M |
Total Long-Term Liabilities | $0.00 | |
Total Liabilities | $3.297M | $3.024M |
YoY Change | 53.87% | 71.3% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$7.655M | -$7.327M |
YoY Change | 21.97% | 29.05% |
Common Stock | $11.35K | $11.35K |
YoY Change | 0.0% | 0.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$3.194M | -$2.884M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $103.8K | $139.7K |
YoY Change | -59.69% | -69.54% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$328.2K | -$278.2K |
YoY Change | -45.17% | -25.36% |
Depreciation, Depletion And Amortization | $907.00 | $907.00 |
YoY Change | 0.0% | 0.0% |
Cash From Operating Activities | -$209.2K | |
YoY Change | -60.0% | |
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 | 245.9K | |
YoY Change | -46.88% | |
NET CHANGE | ||
Cash From Operating Activities | -209.2K | |
Cash From Investing Activities | ||
Cash From Financing Activities | 245.9K | |
Net Change In Cash | 36.70K | |
YoY Change | -161.18% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$209.2K | |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
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Document Type
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10-Q | ||
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EntityInteractiveDataCurrent
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Yes | ||
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Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
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Entity Emerging Growth Company
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Entity Ex Transition Period
EntityExTransitionPeriod
|
false | ||
dei |
Entity Shell Company
EntityShellCompany
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CY2024Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
11346535 | shares |
CY2023Q4 | us-gaap |
Other Assets Current
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Preferred Stock Value
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Income Tax Expense Benefit
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Increase Decrease In Due From Related Parties
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Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
usd | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
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us-gaap |
Interest Paid Net
InterestPaidNet
|
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CY2024Q2 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
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CY2023Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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|
pure | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
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Document Period End Date
DocumentPeriodEndDate
|
2024-06-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
000-56257 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
ACCUSTEM SCIENCES, INC. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
87-3774438 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
5 Penn Plaza | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
19th Floor | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
#1954 New York | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
NY | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
10001 | ||
dei |
City Area Code
CityAreaCode
|
00 44 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
2074952379 | ||
dei |
Security12g Title
Security12gTitle
|
Common Stock | ||
dei |
Trading Symbol
TradingSymbol
|
ACUT | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Listing Par Value Per Share
EntityListingParValuePerShare
|
0.001 | ||
CY2023Q4 | us-gaap |
Cash
Cash
|
21481 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
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Assets Current
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|
129849 | usd |
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Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4048 | usd |
CY2023Q4 | us-gaap |
Assets
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|
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|
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Other Liabilities Current
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CY2023Q4 | us-gaap |
Accrued Liabilities Current
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|
156434 | usd |
CY2023Q4 | us-gaap |
Notes Payable Current
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|
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CY2023Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
2245477 | usd |
CY2023Q4 | us-gaap |
Liabilities
Liabilities
|
2245477 | usd |
CY2024Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
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Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2024Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
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CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2024Q2 | us-gaap |
Preferred Stock Shares Issued
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Preferred Stock Shares Outstanding
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CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
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Preferred Stock Shares Outstanding
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Common Stock Par Or Stated Value Per Share
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Common Stock Par Or Stated Value Per Share
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CY2024Q2 | us-gaap |
Common Stock Shares Authorized
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Common Stock Shares Authorized
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Common Stock Shares Issued
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Common Stock Shares Outstanding
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Common Stock Value
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CY2023Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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Stockholders Equity
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|
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Liabilities And Stockholders Equity
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|
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Research And Development Expense
ResearchAndDevelopmentExpense
|
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General And Administrative Expense
GeneralAndAdministrativeExpense
|
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Operating Expenses
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|
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Operating Income Loss
OperatingIncomeLoss
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
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Net Income Loss
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|
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Earnings Per Share Basic
EarningsPerShareBasic
|
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
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|
-0.03 | |
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|
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|
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|
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Earnings Per Share Basic
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|
-0.11 | ||
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.11 | ||
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Weighted Average Number Of Diluted Shares Outstanding
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Weighted Average Number Of Shares Outstanding Basic
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|
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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|
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|
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Stockholders Equity
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|
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|
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Stockholders Equity
StockholdersEquity
|
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Stockholders Equity
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|
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
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us-gaap |
Net Income Loss
NetIncomeLoss
|
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Stockholders Equity
StockholdersEquity
|
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Stockholders Equity
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Stockholders Equity
StockholdersEquity
|
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Net Income Loss
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|
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Stockholders Equity
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|
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Net Income Loss
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Depreciation
Depreciation
|
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Share Based Compensation
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|
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Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
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IncreaseDecreaseInOtherCurrentAssets
|
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Increase Decrease In Accounts Payable
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|
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Increase Decrease In Accrued Liabilities
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|
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|
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|
355672 | usd | |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap |
Notes Issued1
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Interest Paid Net
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|
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Net Income Loss
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|
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CY2024Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_845_eus-gaap--UseOfEstimates_zVWPUsz6Ift2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zv5vr1xV4Gr5">Use of Estimates </span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 at the date of the financial statements and the reported amounts of income 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 0pt 0pt 0; 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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | ||
CY2024Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
|
P3Y | |
CY2024Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10999 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10999 | usd |
CY2024Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
8766 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
6951 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2233 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4048 | usd |
CY2024Q2 | us-gaap |
Depreciation
Depreciation
|
907 | usd |
CY2024Q2 | ACUT |
Accrued Legal Expenses Current
AccruedLegalExpensesCurrent
|
146594 | usd |
CY2023Q4 | ACUT |
Accrued Legal Expenses Current
AccruedLegalExpensesCurrent
|
146594 | usd |
CY2024Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
8304 | usd |
CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
9840 | usd |
CY2024Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
154898 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
156434 | usd |
CY2024Q2 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
8494 | usd |
us-gaap |
Foreign Currency Translation Adjustment Description
ForeignCurrencyTranslationAdjustmentDescription
|
converted from EUROS to USD using exchange rate of €1:$1.076247 | ||
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-278225 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-372756 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-804827 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1206097 | usd | |
CY2024Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-278225 | usd |
CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-372756 | usd |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-804827 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1206097 | usd | |
CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11346535 | shares |
CY2024Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11346535 | shares |
CY2024Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.02 | |
CY2024Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
CY2024Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
640861 | shares |
CY2023Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1621015 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
640861 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1621015 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1621015 | shares | |
CY2024Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
13933 | usd |
CY2023Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
12626 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
32101 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
38835 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0180 | pure | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.5343 | pure | |
CY2024Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
790198 | usd |
CY2024Q2 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
0 | shares |
CY2023Q2 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
0 | shares |