2022 Q1 Form 10-Q Financial Statement

#000119312522152074 Filed on May 17, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $2.110M $143.0K
YoY Change 1375.52%
Cost Of Revenue $3.149M $1.136M
YoY Change 177.2%
Gross Profit -$1.039M -$993.0K
YoY Change 4.63%
Gross Profit Margin -49.24% -694.41%
Selling, General & Admin $1.502M $521.0K
YoY Change 188.29%
% of Gross Profit
Research & Development $369.0K $346.0K
YoY Change 6.65%
% of Gross Profit
Depreciation & Amortization $334.0K $316.0K
YoY Change 5.7%
% of Gross Profit
Operating Expenses $1.871M $867.0K
YoY Change 115.8%
Operating Profit -$114.4K -$25.82K
YoY Change 343.05%
Interest Expense $0.00 -$2.000K
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$141.4K -$7.000K
YoY Change 1920.44%
Pretax Income -$2.878M -$1.869M
YoY Change 53.99%
Income Tax
% Of Pretax Income
Net Earnings -$255.8K -$25.82K
YoY Change 890.76%
Net Earnings / Revenue -12.12% -18.06%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$34.19K -$22.21K
COMMON SHARES
Basic Shares Outstanding 65.77M shares
Diluted Shares Outstanding 65.77M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.616M
YoY Change
Cash & Equivalents $2.651M
Short-Term Investments
Other Short-Term Assets $1.287M
YoY Change
Inventory $339.0K
Prepaid Expenses $350.0K
Receivables $471.0K $348.0K
Other Receivables $0.00
Total Short-Term Assets $3.001M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $6.866M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $89.00K
YoY Change
Total Long-Term Assets $230.0M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.001M
Total Long-Term Assets $230.0M
Total Assets $233.0M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.14K
YoY Change
Accrued Expenses $149.1K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $220.2K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $3.068M
YoY Change
Total Long-Term Liabilities $3.068M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $220.2K
Total Long-Term Liabilities $3.068M
Total Liabilities $24.07M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$21.04M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$21.04M -$822.00
YoY Change
Total Liabilities & Shareholders Equity $233.0M
YoY Change

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$255.8K -$25.82K
YoY Change 890.76%
Depreciation, Depletion And Amortization $334.0K $316.0K
YoY Change 5.7%
Cash From Operating Activities -$413.5K -$3.343M
YoY Change -87.63%
INVESTING ACTIVITIES
Capital Expenditures -$34.00K -$60.00K
YoY Change -43.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$230.0M -$60.00K
YoY Change 383233.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 233.0M 3.413M
YoY Change 6726.47%
NET CHANGE
Cash From Operating Activities -413.5K -3.343M
Cash From Investing Activities -230.0M -60.00K
Cash From Financing Activities 233.0M 3.413M
Net Change In Cash 2.574M 10.00K
YoY Change 25638.25%
FREE CASH FLOW
Cash From Operating Activities -$413.5K -$3.343M
Capital Expenditures -$34.00K -$60.00K
Free Cash Flow -$379.5K -$3.283M
YoY Change -88.44%

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<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Use of Estimates </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the 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 income and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. </div></div>
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