2022 Q1 Form 10-K Financial Statement

#000143774922016896 Filed on July 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2022 2021 Q1
Revenue $883.7K $3.207M $831.8K
YoY Change 6.24% 3.75% -6.88%
Cost Of Revenue $625.8K $1.958M $448.4K
YoY Change 39.57% 1.51% -7.44%
Gross Profit $257.9K $1.249M $383.4K
YoY Change -32.74% 7.47% -6.21%
Gross Profit Margin 29.18% 38.94% 46.09%
Selling, General & Admin $213.5K $1.674M $456.1K
YoY Change -53.2% 59.52% 62.54%
% of Gross Profit 82.77% 134.04% 118.97%
Research & Development $140.6K $615.9K $239.4K
YoY Change -41.3% -6.1% 91.23%
% of Gross Profit 54.51% 49.33% 62.45%
Depreciation & Amortization $22.41K $107.3K $69.05K
YoY Change -67.55% -28.28% -8.15%
% of Gross Profit 8.69% 8.59% 18.01%
Operating Expenses $375.5K $2.378M $808.6K
YoY Change -53.57% 29.07% 96.27%
Operating Profit -$117.6K -$1.129M -$425.3K
YoY Change -72.35% 65.96% 13147.66%
Interest Expense -$7.470K -$12.59K -$5.020K
YoY Change 48.8% -399.76% -544.25%
% of Operating Profit
Other Income/Expense, Net $0.00 $681.2K $0.00
YoY Change 4696.74%
Pretax Income -$125.0K -$448.1K -$430.3K
YoY Change -70.94% -32.75% 20686.47%
Income Tax $1.119M $936.2K -$59.70K
% Of Pretax Income
Net Earnings -$1.244M -$1.384M -$370.6K
YoY Change 235.7% 4413.12% 23503.82%
Net Earnings / Revenue -140.77% -43.17% -44.55%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$18.41K -$20.48K -$5.483K
COMMON SHARES
Basic Shares Outstanding 67.59M 67.59M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2022 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.039M $1.039M $1.547M
YoY Change -32.87% -32.87% 7.52%
Cash & Equivalents $1.038M $1.039M $1.547M
Short-Term Investments
Other Short-Term Assets $57.74K $57.74K $47.04K
YoY Change 22.75% 22.75% 99.92%
Inventory $288.1K $288.1K $227.2K
Prepaid Expenses
Receivables $729.7K $729.7K $1.154M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.114M $2.114M $2.975M
YoY Change -28.94% -28.94% 10.37%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $513.1K $22.27K
YoY Change -100.0% -16.9% -61.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $90.54K $399.3K $90.54K
YoY Change 0.0% -71.13% 0.0%
Total Long-Term Assets $1.137M $1.137M $2.239M
YoY Change -49.23% -49.23% -5.03%
TOTAL ASSETS
Total Short-Term Assets $2.114M $2.114M $2.975M
Total Long-Term Assets $1.137M $1.137M $2.239M
Total Assets $3.251M $3.251M $5.214M
YoY Change -37.65% -37.65% 3.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $329.6K $329.6K $364.3K
YoY Change -9.54% -9.54% -0.32%
Accrued Expenses $133.1K $208.3K $130.4K
YoY Change 2.05% 3.13% -4.26%
Deferred Revenue $263.6K $293.6K
YoY Change -10.22% -17.23%
Short-Term Debt $334.8K $334.8K $226.4K
YoY Change 47.86% 47.86% 654.7%
Long-Term Debt Due $5.340K $5.340K $288.3K
YoY Change -98.15% -98.15% 1243.24%
Total Short-Term Liabilities $1.374M $1.374M $1.464M
YoY Change -6.15% -6.15% 36.06%
LONG-TERM LIABILITIES
Long-Term Debt $11.70K $11.70K $425.3K
YoY Change -97.25% -97.25%
Other Long-Term Liabilities $491.3K $491.3K $566.6K
YoY Change -13.3% -13.3% -11.22%
Total Long-Term Liabilities $503.0K $503.0K $991.9K
YoY Change -49.29% -49.29% 55.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.374M $1.374M $1.464M
Total Long-Term Liabilities $503.0K $503.0K $991.9K
Total Liabilities $1.877M $1.877M $2.456M
YoY Change -23.57% -23.57% 43.27%
SHAREHOLDERS EQUITY
Retained Earnings -$31.97M -$30.59M
YoY Change 4.53% 1.99%
Common Stock $33.35M $33.35M
YoY Change 0.0% 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.374M $1.374M $2.728M
YoY Change
Total Liabilities & Shareholders Equity $3.251M $3.251M $5.214M
YoY Change -37.65% -37.65% 3.19%

Cashflow Statement

Concept 2022 Q1 2022 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.244M -$1.384M -$370.6K
YoY Change 235.7% 4413.12% 23503.82%
Depreciation, Depletion And Amortization $22.41K $107.3K $69.05K
YoY Change -67.55% -28.28% -8.15%
Cash From Operating Activities -$200.0K -$575.0K -$383.3K
YoY Change -47.83% -25.3% 193.75%
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 65.83K $66.50K 480.7K
YoY Change -86.3% -92.42% -2870.43%
NET CHANGE
Cash From Operating Activities -200.0K -$575.0K -383.3K
Cash From Investing Activities
Cash From Financing Activities 65.83K $66.50K 480.7K
Net Change In Cash -134.2K -$508.5K 97.32K
YoY Change -237.88% -569.76% -159.81%
FREE CASH FLOW
Cash From Operating Activities -$200.0K -$575.0K -$383.3K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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