2024 Q4 Form 10-Q Financial Statement

#000149315224043832 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $19.90K
YoY Change -98.08%
Cost Of Revenue $547.00 $131.3K
YoY Change -99.38% -77.29%
Gross Profit -$547.00 -$111.4K
YoY Change -99.14% -124.23%
Gross Profit Margin -559.85%
Selling, General & Admin $1.016M $3.353M
YoY Change 12.61% 325.72%
% of Gross Profit
Research & Development $2.022M $2.237M
YoY Change 18.24% 24.36%
% of Gross Profit
Depreciation & Amortization $1.212M $1.221M
YoY Change -1.49% -0.35%
% of Gross Profit
Operating Expenses $3.038M $5.590M
YoY Change 16.3% 116.12%
Operating Profit -$3.039M -$5.701M
YoY Change 13.56% 168.09%
Interest Expense -$264.6K -$50.34K
YoY Change -697.83% 512.41%
% of Operating Profit
Other Income/Expense, Net -$660.8K -$266.5K
YoY Change 120.12% -7112.37%
Pretax Income -$3.699M -$5.924M
YoY Change 24.31% 177.98%
Income Tax $800.00
% Of Pretax Income
Net Earnings -$3.699M -$5.925M
YoY Change 24.31% 178.01%
Net Earnings / Revenue -29771.36%
Basic Earnings Per Share -$0.33
Diluted Earnings Per Share -$0.33 -$1.37
COMMON SHARES
Basic Shares Outstanding 13.84M shares 7.663M shares 20.29M shares
Diluted Shares Outstanding 11.28M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.157M $1.886M
YoY Change 117.58% 1.74%
Cash & Equivalents $5.157M $1.886M
Short-Term Investments
Other Short-Term Assets $331.9K $419.5K
YoY Change -26.24% 114.27%
Inventory $160.7K $167.6K
Prepaid Expenses
Receivables $455.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.649M $2.473M
YoY Change 85.82% -13.1%
LONG-TERM ASSETS
Property, Plant & Equipment $649.1K $876.6K
YoY Change -44.12% -36.28%
Goodwill
YoY Change
Intangibles $24.89M $28.28M
YoY Change -15.41% -13.79%
Long-Term Investments
YoY Change
Other Assets $183.2K $208.8K
YoY Change -22.1% 158.83%
Total Long-Term Assets $25.72M $29.37M
YoY Change -16.54% -14.29%
TOTAL ASSETS
Total Short-Term Assets $5.649M $2.473M
Total Long-Term Assets $25.72M $29.37M
Total Assets $31.37M $31.84M
YoY Change -7.35% -14.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $750.6K $1.182M
YoY Change 12.03% -2.48%
Deferred Revenue $110.1K $112.6K
YoY Change
Short-Term Debt $270.0K $42.00K
YoY Change -95.25%
Long-Term Debt Due $3.000M $0.00
YoY Change 7400.0% -100.0%
Total Short-Term Liabilities $4.131M $1.337M
YoY Change 404.07% -45.94%
LONG-TERM LIABILITIES
Long-Term Debt $9.000M $5.922M
YoY Change 70.78%
Other Long-Term Liabilities $216.8K $135.8K
YoY Change 142.64% 1576.9%
Total Long-Term Liabilities $216.8K $135.8K
YoY Change 142.64% 1576.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.131M $1.337M
Total Long-Term Liabilities $216.8K $135.8K
Total Liabilities $13.35M $7.394M
YoY Change 116.02% 198.03%
SHAREHOLDERS EQUITY
Retained Earnings -$48.10M -$37.89M
YoY Change 50.48% 57.1%
Common Stock $138.1K $46.78K
YoY Change -31.93% -76.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.02M $24.45M
YoY Change
Total Liabilities & Shareholders Equity $31.37M $31.84M
YoY Change -7.35% -14.19%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$3.699M -$5.925M
YoY Change 24.31% 178.01%
Depreciation, Depletion And Amortization $1.212M $1.221M
YoY Change -1.49% -0.35%
Cash From Operating Activities -$1.475M -$1.375M
YoY Change 99.34% 123.36%
INVESTING ACTIVITIES
Capital Expenditures $10.14K -$17.02K
YoY Change -74.65% -52.68%
Acquisitions
YoY Change
Other Investing Activities -$8.630K $1.460K
YoY Change -13.7% -237.74%
Cash From Investing Activities -$18.79K $18.47K
YoY Change -62.42% -47.08%
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 903.7K
YoY Change -180.97% -19533.76%
NET CHANGE
Cash From Operating Activities -1.475M -1.375M
Cash From Investing Activities -18.79K 18.47K
Cash From Financing Activities -1.482M 903.7K
Net Change In Cash -2.976M -452.5K
YoY Change -386.12% -22.67%
FREE CASH FLOW
Cash From Operating Activities -$1.475M -$1.375M
Capital Expenditures $10.14K -$17.02K
Free Cash Flow -$1.485M -$1.358M
YoY Change 90.42% 134.29%

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<p id="xdx_84B_eus-gaap--UseOfEstimates_zbywwAd9V6d5" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_868_z4xkLwYmS7Cf">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q3 us-gaap Earnings Per Share Basic
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