2022 Q4 Form 10-Q Financial Statement

#000149315222032118 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $56.00K $21.00K $33.00K
YoY Change 12.0% -36.36% -8.33%
Cost Of Revenue $0.00 $0.00 $157.0K
YoY Change -100.0% -100.0% -23.04%
Gross Profit $56.00K $21.00K -$124.0K
YoY Change -144.44% -116.94% -26.19%
Gross Profit Margin 100.0% 100.0% -375.76%
Selling, General & Admin $3.505M $5.170M $1.799M
YoY Change 33.93% 187.38% -13.72%
% of Gross Profit 6258.93% 24619.05%
Research & Development $2.107M $1.372M $2.006M
YoY Change -27.92% -31.61% 82.03%
% of Gross Profit 3762.5% 6533.33%
Depreciation & Amortization $170.0K $28.00K $176.0K
YoY Change -12.37% -84.09% 31.34%
% of Gross Profit 303.57% 133.33%
Operating Expenses $5.612M $1.372M $3.805M
YoY Change 1.3% -63.94% 19.39%
Operating Profit -$5.556M -$6.521M -$3.929M
YoY Change -1.94% 65.97% 17.11%
Interest Expense $423.0K
YoY Change -240.53%
% of Operating Profit
Other Income/Expense, Net $0.00 $172.0K $51.00K
YoY Change -100.0% 237.25% 64.52%
Pretax Income -$4.389M -$6.385M -$3.826M
YoY Change -24.92% 66.88% 15.73%
Income Tax
% Of Pretax Income
Net Earnings -$4.389M -$6.385M -$3.826M
YoY Change -24.92% 66.88% 15.73%
Net Earnings / Revenue -7837.5% -30404.76% -11593.94%
Basic Earnings Per Share -$0.13 -$0.08
Diluted Earnings Per Share -$0.09 -$132.8K -$79.96K
COMMON SHARES
Basic Shares Outstanding 48.08M shares 48.05M shares
Diluted Shares Outstanding 48.08M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.19M $36.75M $37.85M
YoY Change -29.17% -2.91% -4.52%
Cash & Equivalents $27.05M $29.76M $37.35M
Short-Term Investments $7.137M $6.986M $499.0K
Other Short-Term Assets $455.0K $4.405M $161.0K
YoY Change 49.67% 2636.02% 76.92%
Inventory
Prepaid Expenses
Receivables $1.676M $0.00 $28.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $36.32M $41.15M $38.04M
YoY Change -27.67% 8.18% -4.33%
LONG-TERM ASSETS
Property, Plant & Equipment $195.0K $118.0K $6.138M
YoY Change -95.18% -98.08% -9.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.81M
YoY Change 6.57%
Other Assets $1.202M $2.138M $1.249M
YoY Change -8.66% 71.18% -7.28%
Total Long-Term Assets $4.167M $5.135M $25.04M
YoY Change -44.34% -79.5% 2.61%
TOTAL ASSETS
Total Short-Term Assets $36.32M $41.15M $38.04M
Total Long-Term Assets $4.167M $5.135M $25.04M
Total Assets $40.49M $46.29M $63.08M
YoY Change -29.83% -26.62% -1.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $377.0K $957.0K $369.0K
YoY Change 90.4% 159.35% 80.0%
Accrued Expenses $806.0K $1.767M $398.0K
YoY Change 84.02% 343.97% 9.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.361M $2.895M $767.0K
YoY Change 102.23% 277.44% -3.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $659.0K $695.0K $266.0K
YoY Change 348.3% 161.28% -17.65%
Total Long-Term Liabilities $659.0K $695.0K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.361M $2.895M $767.0K
Total Long-Term Liabilities $659.0K $695.0K $0.00
Total Liabilities $2.020M $3.590M $1.033M
YoY Change 200.15% 247.53% -66.15%
SHAREHOLDERS EQUITY
Retained Earnings -$380.5M -$376.2M
YoY Change 5.38%
Common Stock $48.00K $48.00K
YoY Change -99.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.47M $42.70M $62.05M
YoY Change
Total Liabilities & Shareholders Equity $40.49M $46.29M $63.08M
YoY Change -29.83% -26.62% -1.69%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$4.389M -$6.385M -$3.826M
YoY Change -24.92% 66.88% 15.73%
Depreciation, Depletion And Amortization $170.0K $28.00K $176.0K
YoY Change -12.37% -84.09% 31.34%
Cash From Operating Activities -$6.069M -$4.968M -$3.457M
YoY Change 5.64% 43.71% 15.66%
INVESTING ACTIVITIES
Capital Expenditures $175.0K -$20.00K -$87.00K
YoY Change -212.9% -77.01% 2075.0%
Acquisitions
YoY Change
Other Investing Activities $3.538M $270.0K -$279.0K
YoY Change 581.7% -196.77% -97.09%
Cash From Investing Activities $3.363M $250.0K -$366.0K
YoY Change 823.9% -168.31% -96.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 25.00K 30.00K
YoY Change -100.0% -16.67% -99.83%
NET CHANGE
Cash From Operating Activities -6.069M -4.968M -3.457M
Cash From Investing Activities 3.363M 250.0K -366.0K
Cash From Financing Activities 0.000 25.00K 30.00K
Net Change In Cash -2.706M -4.693M -3.793M
YoY Change -48.52% 23.73% -182.67%
FREE CASH FLOW
Cash From Operating Activities -$6.069M -$4.968M -$3.457M
Capital Expenditures $175.0K -$20.00K -$87.00K
Free Cash Flow -$6.244M -$4.948M -$3.370M
YoY Change 11.7% 46.82% 12.9%

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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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AIM Conversion Of Series B Preferred
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2000 usd
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2022Q3 us-gaap Marketable Securities Current
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CY2022Q3 us-gaap Accrued Liabilities Current
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CY2021Q4 us-gaap Accrued Liabilities Current
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CY2021Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gain Loss On Disposition Of Assets1
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FairValueAdjustmentOfWarrants
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CY2021Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2022Q3 AIM Gain From Sale Of Income Tax Operating Loss
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CY2021Q3 AIM Gain From Sale Of Income Tax Operating Loss
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AIM Gain From Sale Of Income Tax Operating Loss
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AIM Gain From Sale Of Income Tax Operating Loss
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CY2022Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q3 AIM Reclassification Adjustment For Realized Investment Lost
ReclassificationAdjustmentForRealizedInvestmentLost
101000 usd
AIM Reclassification Adjustment For Realized Investment Lost
ReclassificationAdjustmentForRealizedInvestmentLost
126000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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ComprehensiveIncomeNetOfTax
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CY2022Q3 us-gaap Earnings Per Share Basic
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CY2021Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
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CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
56879000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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242000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
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CY2022Q1 us-gaap Stockholders Equity
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CY2022Q2 us-gaap Stock Issued During Period Value New Issues
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55000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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275000 usd
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ComprehensiveIncomeNetOfTax
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
48780000 usd
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1498000 usd
CY2021 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
592000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
116000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1974000 usd
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
96000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
57000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2013000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
23000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
154000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
178000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
199000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
235000 usd
CY2022Q3 AIM Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1224000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2013000 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000 shares
CY2022Q3 AIM Common Stock Shares With Limitations And Restrictions On Usage
CommonStockSharesWithLimitationsAndRestrictionsOnUsage
8000000 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
15000 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
48082275 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47994672 shares
AIM Percentage Of Probability
PercentageOfProbability
0.050 pure
AIM Floor Rate Used As Proxy For Future Volatility Percentage
FloorRateUsedAsProxyForFutureVolatilityPercentage
1 pure
CY2022Q3 us-gaap Derivative Assets
DerivativeAssets
6986000 usd
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
16175000 usd
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
35000 usd
CY2021Q4 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
3900000 usd
CY2021 us-gaap Gain Loss On Fair Value Hedge Ineffectiveness Net
GainLossOnFairValueHedgeIneffectivenessNet
-1800000 usd
CY2021 us-gaap Property Plant And Equipment Collections Not Capitalized Deaccessed Fair Value
PropertyPlantAndEquipmentCollectionsNotCapitalizedDeaccessedFairValue
3900000 usd
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1800000 usd
CY2022Q3 AIM Deposit Received
DepositReceived
300000 usd
CY2018Q1 us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
4080000 usd
CY2018Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
lease the property back for ten years at $408,000 per year for two years through March 31, 2020. The lease payments would increase 2.5% per year for the next three years through March 31, 2023, and the lease payments would increase 3% for the remaining five years through March 31, 2028
CY2018Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2018Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
73314 shares
CY2018Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2018Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
17.05
CY2018Q1 AIM Warrant Closing Price Percentages
WarrantClosingPricePercentages
1.25 pure
CY2021Q2 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
4732637 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M1D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M19D
AIM Percentage Of Incremental Borrowing Rate
PercentageOfIncrementalBorrowingRate
0.10 pure
CY2021 AIM Percentage Of Incremental Borrowing Rate
PercentageOfIncrementalBorrowingRate
0.10 pure
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
46000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
187000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
183000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
180000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
185000 usd
CY2022Q3 AIM Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
171000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
86000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
866000 usd
CY2022Q3 AIM Operating Leases Right Of Use Asset
OperatingLeasesRightOfUseAsset
866000 usd
CY2021Q4 AIM Operating Leases Right Of Use Asset
OperatingLeasesRightOfUseAsset
149000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
866000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
149000 usd
us-gaap Payments For Rent
PaymentsForRent
75000 usd
us-gaap Payments For Rent
PaymentsForRent
39000 usd
us-gaap Short Term Lease Payments
ShortTermLeasePayments
8000 usd
us-gaap Short Term Lease Payments
ShortTermLeasePayments
8000 usd

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