2024 Q1 Form 10-Q Financial Statement
#000182912624003664 Filed on May 22, 2024
Income Statement
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| Revenue | $5.885M | $6.101M |
| YoY Change | -3.55% | |
| Cost Of Revenue | $5.118M | $5.516M |
| YoY Change | -7.22% | 5.69% |
| Gross Profit | $766.9K | $585.4K |
| YoY Change | 31.0% | 5.11% |
| Gross Profit Margin | 13.03% | 9.6% |
| Selling, General & Admin | $1.070M | $828.0K |
| YoY Change | 29.27% | 4217.05% |
| % of Gross Profit | 139.57% | 141.44% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $48.31K | $8.334K |
| YoY Change | 479.66% | -24.88% |
| % of Gross Profit | 6.3% | 1.42% |
| Operating Expenses | $1.624M | $959.9K |
| YoY Change | 69.19% | 4904.8% |
| Operating Profit | -$857.2K | -$374.5K |
| YoY Change | 128.91% | 363.34% |
| Interest Expense | -$410.9K | -$40.92K |
| YoY Change | 904.11% | 309.2% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $7.972K | -$68.50K |
| YoY Change | -111.64% | 9.42% |
| Pretax Income | -$849.3K | -$443.0K |
| YoY Change | 91.71% | 2209.7% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$849.3K | -$443.0K |
| YoY Change | 91.71% | 2209.68% |
| Net Earnings / Revenue | -14.43% | -7.26% |
| Basic Earnings Per Share | -$0.01 | -$0.01 |
| Diluted Earnings Per Share | -$0.01 | $0.00 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 94.92M shares | 94.47M shares |
| Diluted Shares Outstanding | 94.92M shares | 94.92M shares |
Balance Sheet
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.451M | $444.3K |
| YoY Change | 226.66% | |
| Cash & Equivalents | $1.451M | $444.3K |
| Short-Term Investments | ||
| Other Short-Term Assets | $377.4K | $166.4K |
| YoY Change | 126.78% | |
| Inventory | ||
| Prepaid Expenses | $316.8K | |
| Receivables | $1.331M | $2.008M |
| Other Receivables | $9.300K | $0.00 |
| Total Short-Term Assets | $3.170M | $2.619M |
| YoY Change | 21.04% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $789.3K | $269.0K |
| YoY Change | 193.38% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $0.00 | |
| YoY Change | ||
| Total Long-Term Assets | $2.133M | $571.7K |
| YoY Change | 273.14% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $3.170M | $2.619M |
| Total Long-Term Assets | $2.133M | $571.7K |
| Total Assets | $5.303M | $3.190M |
| YoY Change | 66.22% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $499.0K | $759.0K |
| YoY Change | -34.25% | |
| Accrued Expenses | $21.30K | $70.34K |
| YoY Change | -69.72% | 0.0% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $2.338M | $719.6K |
| YoY Change | 224.93% | |
| Total Short-Term Liabilities | $4.571M | $2.564M |
| YoY Change | 78.29% | 8508.67% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $2.015M | $2.764M |
| YoY Change | -27.1% | |
| Other Long-Term Liabilities | $1.060M | $294.4K |
| YoY Change | 260.07% | |
| Total Long-Term Liabilities | $3.075M | $3.059M |
| YoY Change | 0.53% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $4.571M | $2.564M |
| Total Long-Term Liabilities | $3.075M | $3.059M |
| Total Liabilities | $7.646M | $5.622M |
| YoY Change | 35.99% | 18779.9% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$2.503M | -$2.590M |
| YoY Change | -3.39% | |
| Common Stock | $159.8K | $158.3K |
| YoY Change | 0.95% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$2.343M | -$2.432M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $5.303M | $3.190M |
| YoY Change | 66.22% |
Cashflow Statement
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$849.3K | -$443.0K |
| YoY Change | 91.71% | 2209.68% |
| Depreciation, Depletion And Amortization | $48.31K | $8.334K |
| YoY Change | 479.66% | -24.88% |
| Cash From Operating Activities | -$611.5K | -$786.3K |
| YoY Change | -22.24% | |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $263.5K | $7.468K |
| YoY Change | 3428.79% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $3.020K | |
| YoY Change | ||
| Cash From Investing Activities | -$263.5K | $3.023K |
| YoY Change | -8817.63% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | $160.6K | |
| YoY Change | ||
| NET CHANGE | ||
| Cash From Operating Activities | -$611.5K | -$786.3K |
| Cash From Investing Activities | -$263.5K | $3.023K |
| Cash From Financing Activities | $160.6K | |
| Net Change In Cash | -$714.4K | -$783.3K |
| YoY Change | -8.8% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$611.5K | -$786.3K |
| Capital Expenditures | $263.5K | $7.468K |
| Free Cash Flow | -$875.0K | -$793.8K |
| YoY Change | 10.23% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
usd | |
| CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1060015 | usd |
| CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1060015 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.0089 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.0089 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.0079 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.0079 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
94917302 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
94917302 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
94917302 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
94917302 | shares |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1493624 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-849272 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2342896 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-849272 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-751257 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-251994 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
509415 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Insurance
IncreaseDecreaseInPrepaidInsurance
|
-11599 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Insurance
IncreaseDecreaseInPrepaidInsurance
|
-6403 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
-21300 | usd |
| CY2002Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1000 | shares |
| CY2024Q1 | AGSS |
Holder Ownership
HolderOwnership
|
0.87 | pure |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84C_eus-gaap--UseOfEstimates_zIJcWxH2Y5M" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_86A_zuh13l0XWFnd">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include estimated useful lives and potential impairment of property and equipment, along with the collectability of some receivables from customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | |
| CY2024Q1 | us-gaap |
Cash
Cash
|
1451475 | usd |
| CY2023Q4 | us-gaap |
Cash
Cash
|
2166118 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1005633 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1060015 | usd |
| CY2024Q1 | us-gaap |
Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
|
9300 | usd |
| CY2024Q1 | us-gaap |
Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
|
338450 | usd |
| CY2023Q4 | us-gaap |
Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
|
340700 | usd |
| CY2021Q3 | AGSS |
Consideration Paid Shares
ConsiderationPaidShares
|
500000 | usd |
| CY2024Q1 | AGSS |
Notes Receivablerelated Party
NotesReceivablerelatedParty
|
57971 | usd |
| CY2023Q4 | AGSS |
Notes Receivablerelated Party
NotesReceivablerelatedParty
|
57971 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1463731 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1200197 | usd |
| CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
674392 | usd |
| CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
626083 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
789339 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
574114 | usd |
| CY2024Q1 | AGSS |
Pension Balances
PensionBalances
|
364158 | usd |
| CY2023Q4 | AGSS |
Pension Balances
PensionBalances
|
507793 | usd |
| CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
49035 | usd |
| CY2024Q1 | us-gaap |
Notes Payable
NotesPayable
|
4353182 | usd |
| CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
4194840 | usd |
| CY2024Q1 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
0 | usd |
