2024 Q1 Form 10-Q Financial Statement
#000168316824000918 Filed on February 13, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.575M | $2.323M | $1.352M |
YoY Change | 365.63% | 107.89% | |
% of Gross Profit | |||
Research & Development | $841.0K | $601.0K | $782.6K |
YoY Change | 163.45% | 202.01% | 466.29% |
% of Gross Profit | |||
Depreciation & Amortization | $46.00K | $35.00K | |
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $2.416M | $2.924M | $6.690M |
YoY Change | 267.46% | 437.5% | 748.57% |
Operating Profit | -$2.924M | -$5.820M | |
YoY Change | 437.5% | ||
Interest Expense | $34.00K | $33.00K | $24.55K |
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | -$3.026M | -$189.0K | -$239.5K |
YoY Change | |||
Pretax Income | -$5.408M | -$3.113M | -$6.905M |
YoY Change | 722.53% | 472.24% | 775.83% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$5.408M | -$3.113M | -$6.040M |
YoY Change | 722.53% | 472.24% | 1248.21% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.23 | -$8.78 | |
Diluted Earnings Per Share | -$0.29 | -$0.23 | -$0.33 |
COMMON SHARES | |||
Basic Shares Outstanding | 18.79M shares | 13.80M shares | 687.8K |
Diluted Shares Outstanding | 13.80M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $8.608M | $1.218M | $2.145M |
YoY Change | |||
Cash & Equivalents | $8.608M | $1.218M | $2.145M |
Short-Term Investments | |||
Other Short-Term Assets | $783.0K | $467.0K | $62.30K |
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $9.391M | $1.685M | $2.208M |
YoY Change | 985.66% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $16.00K | $14.00K | |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $110.0K | $162.7K | |
YoY Change | |||
Total Long-Term Assets | $16.00K | $124.0K | $162.6K |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $9.391M | $1.685M | $2.208M |
Total Long-Term Assets | $16.00K | $124.0K | $162.6K |
Total Assets | $9.407M | $1.809M | $2.370M |
YoY Change | 987.51% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $492.0K | $663.0K | $402.9K |
YoY Change | 184.39% | ||
Accrued Expenses | $285.0K | $310.0K | $34.60K |
YoY Change | 493.75% | ||
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 | $777.0K | $973.0K | $437.5K |
YoY Change | 251.58% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.002M | $1.457M | $61.70K |
YoY Change | |||
Other Long-Term Liabilities | $4.974M | $4.795M | |
YoY Change | |||
Total Long-Term Liabilities | $1.002M | $6.431M | $4.857M |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $777.0K | $973.0K | $437.5K |
Total Long-Term Liabilities | $1.002M | $6.431M | $4.857M |
Total Liabilities | $1.779M | $7.404M | $5.295M |
YoY Change | 704.98% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$39.00M | -$33.56M | |
YoY Change | 65.65% | ||
Common Stock | $19.00K | $14.00K | |
YoY Change | 58.33% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $7.628M | -$5.595M | -$2.924M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.407M | $1.809M | $2.370M |
YoY Change | 987.51% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$5.408M | -$3.113M | -$6.040M |
YoY Change | 722.53% | 472.24% | 1248.21% |
Depreciation, Depletion And Amortization | $46.00K | $35.00K | |
YoY Change | |||
Cash From Operating Activities | -$2.287M | -$2.557M | -$1.804M |
YoY Change | 93.03% | 169.46% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $3.000K | $16.00K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$3.000K | -$16.00K | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 9.680M | 1.645M | 3.085M |
YoY Change | 1334.07% | ||
NET CHANGE | |||
Cash From Operating Activities | -2.287M | -2.557M | -1.804M |
Cash From Investing Activities | -3.000K | -16.00K | |
Cash From Financing Activities | 9.680M | 1.645M | 3.085M |
Net Change In Cash | 7.390M | -927.7K | 1.281M |
YoY Change | -1549.59% | -291.26% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$2.287M | -$2.557M | -$1.804M |
Capital Expenditures | $3.000K | $16.00K | |
Free Cash Flow | -$2.290M | -$2.573M | |
YoY Change |
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us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
13487444 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
13487444 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11999071 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11999071 | shares | |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1959000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-341000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1618000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-448000 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1170000 | usd |
CY2022Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-544000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
626000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
644000 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-865000 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2840000 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2619000 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6040000 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
151000 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
346000 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2924000 | usd |
CY2023Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3113000 | usd |
CY2023Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
212000 | usd |
CY2023Q4 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
230000 | usd |
CY2023Q4 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
0 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5595000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-10018000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1333000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
363000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
35000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
0 | usd | |
AMIX |
Warrant Expense Termination Agreement
WarrantExpenseTerminationAgreement
|
4556000 | usd | |
AMIX |
Warrant Expense Termination Agreement
WarrantExpenseTerminationAgreement
|
0 | usd | |
AMIX |
Warrant Liability Markto Market
WarrantLiabilityMarktoMarket
|
418000 | usd | |
AMIX |
Warrant Liability Markto Market
WarrantLiabilityMarktoMarket
|
0 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
467000 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-9000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
490000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
92000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
262000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-2000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4361000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1234000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
16000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
-0 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-16000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2840000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
2000000 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | usd | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
110000 | usd | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
-0 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4730000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
353000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1234000 | usd | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
865000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2044000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1218000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
810000 | usd |
AMIX |
Warrants Issued For Debt Issuance Costs
WarrantsIssuedForDebtIssuanceCosts
|
576000 | usd | |
AMIX |
Warrants Issued For Debt Issuance Costs
WarrantsIssuedForDebtIssuanceCosts
|
0 | usd | |
AMIX |
Proceeds From Cashless Exercise Of Warrants
ProceedsFromCashlessExerciseOfWarrants
|
1000 | usd | |
AMIX |
Proceeds From Cashless Exercise Of Warrants
ProceedsFromCashlessExerciseOfWarrants
|
0 | usd | |
CY2023Q4 | AMIX |
Working Capital
WorkingCapital
|
700000 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
1200000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_zFoEqjuhIVLa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><i>Use of Estimates in Financial Statement Presentation</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The preparation of these unaudited condensed interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company's significant estimates and assumptions include work performed but not yet billed by contract manufacturers, engineers and research organizations, the valuation of equity related instruments, initial and recurring fair value measurements for the warrant liability and the valuation allowance related to deferred taxes. Although the Company believes that its estimates and assumptions are reasonable, they are based upon information available at the time the estimates and assumptions were made. Some of these judgments can be subjective and complex, and, consequently, actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10718529 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6569929 | shares | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
0 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
1703600 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.26 | ||
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | ||
AMIX |
Share Based Compensation Arrangement By Share Based Payment Award Options Exchanged In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExchangedInPeriod
|
0 | shares | |
AMIX |
Share Based Compensation Arrangements By Share Based Payment Award Options Exchanged In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExchangedInPeriodWeightedAverageExercisePrice
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
0 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
0 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
0 | ||
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1703600 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.26 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y5M19D | ||
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
157117 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.00 | |
us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P9Y3M | ||
CY2023Q4 | AMIX |
Fair Value Of Options Granted
FairValueOfOptionsGranted
|
3 | usd |
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
2700000 | usd |
us-gaap |
Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
|
100000 | usd | |
us-gaap |
Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
|
100000 | usd | |
CY2023Q4 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
100000 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
100000 | usd |