2024 Q3 Form 10-Q Financial Statement

#000149315224030251 Filed on August 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $28.56K
YoY Change -95.51%
Cost Of Revenue $547.00 $25.37K $55.82K
YoY Change -99.38% -54.54% -82.5%
Gross Profit -$547.00 -$25.37K -$27.26K
YoY Change -99.14% -6.93% -108.58%
Gross Profit Margin -95.47%
Selling, General & Admin $1.016M $1.045M $618.1K
YoY Change 12.61% 69.03% -1.43%
% of Gross Profit
Research & Development $2.022M $1.979M $1.671M
YoY Change 18.24% 18.4% 2.22%
% of Gross Profit
Depreciation & Amortization $1.212M $1.198M $1.219M
YoY Change -1.49% -1.73% 0.71%
% of Gross Profit
Operating Expenses $3.038M $3.024M $2.289M
YoY Change 16.3% 32.07% 1.21%
Operating Profit -$3.039M -$3.049M -$2.317M
YoY Change 13.56% 31.62% 19.15%
Interest Expense -$264.6K -$118.8K -$33.13K
YoY Change -697.83% 258.48% -1069.53%
% of Operating Profit
Other Income/Expense, Net -$660.8K -$146.0K $7.180K
YoY Change 120.12% -2133.61% -20.75%
Pretax Income -$3.699M -$3.195M -$2.350M
YoY Change 24.31% 35.97% 20.25%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.699M -$3.195M -$2.350M
YoY Change 24.31% 35.97% 20.25%
Net Earnings / Revenue -8228.78%
Basic Earnings Per Share -$0.33 -$0.49 -$0.58
Diluted Earnings Per Share -$0.33 -$0.49 -$0.12
COMMON SHARES
Basic Shares Outstanding 7.663M shares 6.284M shares 20.04M shares
Diluted Shares Outstanding 11.28M shares 6.519M shares 4.019M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.157M $8.014M $1.361M
YoY Change 117.58% 488.85% -22.4%
Cash & Equivalents $5.157M $8.014M $1.361M
Short-Term Investments
Other Short-Term Assets $331.9K $291.2K $241.2K
YoY Change -26.24% 20.7% -81.07%
Inventory $160.7K $166.3K $528.1K
Prepaid Expenses
Receivables $9.00 $9.385K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.649M $8.472M $2.140M
YoY Change 85.82% 295.92% -42.15%
LONG-TERM ASSETS
Property, Plant & Equipment $649.1K $691.1K $1.269M
YoY Change -44.12% -45.55% -15.55%
Goodwill
YoY Change
Intangibles $24.89M $26.03M
YoY Change -15.41%
Long-Term Investments
YoY Change
Other Assets $183.2K $348.6K $73.17K
YoY Change -22.1% 376.48% -41.32%
Total Long-Term Assets $25.72M $27.07M $31.91M
YoY Change -16.54% -15.17% -13.09%
TOTAL ASSETS
Total Short-Term Assets $5.649M $8.472M $2.140M
Total Long-Term Assets $25.72M $27.07M $31.91M
Total Assets $31.37M $35.54M $34.05M
YoY Change -7.35% 4.39% -15.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $750.6K $738.9K $429.5K
YoY Change 12.03% 72.05% -83.47%
Deferred Revenue $110.1K
YoY Change
Short-Term Debt $270.0K $312.0K $684.0K
YoY Change -54.39% -32.51%
Long-Term Debt Due $3.000M $4.586M $0.00
YoY Change 7400.0% -100.0%
Total Short-Term Liabilities $4.131M $5.743M $1.114M
YoY Change 404.07% 415.78% -84.07%
LONG-TERM LIABILITIES
Long-Term Debt $9.000M $9.000M $2.500M
YoY Change 70.78% 260.0% -90.88%
Other Long-Term Liabilities $216.8K $83.91K $37.56K
YoY Change 142.64% 123.4% 105.03%
Total Long-Term Liabilities $216.8K $83.91K $37.56K
YoY Change 142.64% 123.4% -99.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.131M $5.743M $1.114M
Total Long-Term Liabilities $216.8K $83.91K $37.56K
Total Liabilities $13.35M $14.83M $3.651M
YoY Change 116.02% 306.1% -89.39%
SHAREHOLDERS EQUITY
Retained Earnings -$48.10M -$44.40M -$28.99M
YoY Change 50.48% 53.16% 104.66%
Common Stock $138.1K $1.318M $202.9K
YoY Change -31.93% 549.52% -85.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.02M $20.71M $30.40M
YoY Change
Total Liabilities & Shareholders Equity $31.37M $35.54M $34.05M
YoY Change -7.35% 4.39% -15.75%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$3.699M -$3.195M -$2.350M
YoY Change 24.31% 35.97% 20.25%
Depreciation, Depletion And Amortization $1.212M $1.198M $1.219M
YoY Change -1.49% -1.73% 0.71%
Cash From Operating Activities -$1.475M -$1.974M -$1.151M
YoY Change 99.34% 71.51% 402.06%
INVESTING ACTIVITIES
Capital Expenditures $10.14K $5.850K -$920.00
YoY Change -74.65% -735.87% -99.78%
Acquisitions
YoY Change
Other Investing Activities -$8.630K -$2.670K
YoY Change -13.7%
Cash From Investing Activities -$18.79K -$8.510K $1.220K
YoY Change -62.42% -797.54% -100.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.482M 9.000M 1.391M
YoY Change -180.97% 547.12% 155.19%
NET CHANGE
Cash From Operating Activities -1.475M -1.974M -1.151M
Cash From Investing Activities -18.79K -8.510K 1.220K
Cash From Financing Activities -1.482M 9.000M 1.391M
Net Change In Cash -2.976M 7.017M 241.0K
YoY Change -386.12% 2812.13% 789.84%
FREE CASH FLOW
Cash From Operating Activities -$1.475M -$1.974M -$1.151M
Capital Expenditures $10.14K $5.850K -$920.00
Free Cash Flow -$1.485M -$1.980M -$1.150M
YoY Change 90.42% 72.16% -688.89%

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CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
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<p id="xdx_84B_eus-gaap--UseOfEstimates_zFdNWnDUlbHl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_863_zk7qq86zLcBb">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The preparation of condensed financial statements in conformity with GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosures as of the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on various factors, including historical experience, and on various other assumptions that are believed to be reasonable under the circumstances, when these carrying values are not readily available from other sources. Significant items subject to estimates and assumptions include useful lives of property and equipment, valuation of stock option, warrants and convertible notes measured at fair value, and impairment testing of intangible assets. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
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CY2024Q2 us-gaap Cash Fdic Insured Amount
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CY2023Q4 AIMD Excess Of Cdic Insured Limits
ExcessOfCDICInsuredLimits
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CY2024Q2 us-gaap Inventory Raw Materials
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CY2024Q2 us-gaap Inventory Work In Process
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CY2024Q2 us-gaap Inventory Finished Goods
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CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2024Q2 us-gaap Inventory Net
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166322 usd
CY2023Q4 us-gaap Inventory Net
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CY2023Q2 AIMD Inventory Writedowns Net Realizable Values
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CY2024Q2 us-gaap Notes Payable
NotesPayable
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CY2023Q4 us-gaap Notes Payable
NotesPayable
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CY2024Q2 AIMD Fair Value Change Of Senior Secured Convertible Note
FairValueChangeOfSeniorSecuredConvertibleNote
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AIMD Fair Value Change Of Senior Secured Convertible Note
FairValueChangeOfSeniorSecuredConvertibleNote
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AIMD Issurance Cost Of Senior Secured Convertible Note Measured At Fair Value
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1244168 usd
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
7388674 shares
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3749535 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1909810 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
894444 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
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CY2024Q2 us-gaap Contract With Customer Liability
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CY2023Q2 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2024Q2 AIMD Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestAndExercisableNumber
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CY2024Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6145148 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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EarningsPerShareBasic
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CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
694443 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6956403 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2024Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
220488 usd
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
87632 usd
CY2023Q2 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
19618 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
39344 usd

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