2024 Q3 Form 10-K Financial Statement

#000147793224005401 Filed on August 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q1 2024
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $11.85K $175.3K
YoY Change -79.7% -75.37%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $93.01K $744.8K
YoY Change -73.66% -45.7%
Operating Profit -$93.01K -$744.8K
YoY Change -73.66% -45.7%
Interest Expense $9.844K $21.03K
YoY Change 77.15% -1126.05%
% of Operating Profit
Other Income/Expense, Net $2.341K -$159.7K
YoY Change -101.34% -7891.9%
Pretax Income -$90.67K -$585.2K
YoY Change -49.34% -57.41%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$90.67K -$585.2K
YoY Change -49.34% -57.41%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 10.07M shares 40.07M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.540K $6.540K
YoY Change -47.13% -47.13%
Cash & Equivalents $6.345K $6.535K
Short-Term Investments
Other Short-Term Assets $99.84K $99.84K
YoY Change -59.91% -59.91%
Inventory
Prepaid Expenses $163.6K $99.84K
Receivables
Other Receivables
Total Short-Term Assets $170.0K $106.4K $106.4K
YoY Change -49.07% -59.31% -59.31%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $170.0K $106.4K $106.4K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $170.0K $106.4K $106.4K
YoY Change -49.07% -59.31% -59.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.128M $961.7K $2.500M
YoY Change -21.6% -60.77% 1.97%
Accrued Expenses $38.17K $23.82K $23.82K
YoY Change 316.86% 161.42% 161.47%
Deferred Revenue
YoY Change
Short-Term Debt $143.0K $143.0K
YoY Change 186.0% 186.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.007M $2.667M $2.667M
YoY Change -4.52% 6.22% 6.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.007M $2.667M $2.667M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.007M $2.667M $2.667M
YoY Change -4.52% 6.22% 6.21%
SHAREHOLDERS EQUITY
Retained Earnings -$6.196M -$5.954M
YoY Change 3.99% 10.9%
Common Stock $53.54K $40.07K
YoY Change 33.61% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.837M -$2.560M -$2.560M
YoY Change
Total Liabilities & Shareholders Equity $170.0K $106.4K $106.4K
YoY Change -49.07% -59.31% -59.31%

Cashflow Statement

Concept 2024 Q3 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$90.67K -$585.2K
YoY Change -49.34% -57.41%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$66.20K -$110.4K
YoY Change 60.29% 24.72%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 43.00K $93.00K
YoY Change -14.0% -7.0%
NET CHANGE
Cash From Operating Activities -66.20K -$110.4K
Cash From Investing Activities $0.00
Cash From Financing Activities 43.00K $93.00K
Net Change In Cash -23.20K -$5.834K
YoY Change -366.67% -150.91%
FREE CASH FLOW
Cash From Operating Activities -$66.20K -$110.4K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain 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 revenues and expenses during the period.  Among other things, management estimates include the assumptions made for accruals and potential liabilities and realization of deferred tax assets.  These estimates generally involve complex issues and require judgments, involve analysis of historical information and the prediction of future trends, and are subject to change from period to period. Actual amounts could differ significantly from these estimates.</p>
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