2024 Q2 Form 10-Q Financial Statement

#000175392624000903 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $301.8K $226.9K $226.9K
YoY Change 33.0% 0.0%
Cost Of Revenue $0.00
YoY Change
Gross Profit $301.8K $226.9K
YoY Change 33.0%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $87.54K $189.9K $70.40K
YoY Change -92.76% -10.58% -30.18%
% of Gross Profit 29.01% 83.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $151.00
YoY Change
% of Gross Profit 0.05%
Operating Expenses $87.54K $189.9K -$3.084M
YoY Change -92.76% -10.58% -3158.36%
Operating Profit $214.2K $37.02K
YoY Change -121.83% 154.49%
Interest Expense -$887.00 $0.00
YoY Change -96.93%
% of Operating Profit -0.41% 0.0%
Other Income/Expense, Net -$1.150K -$80.00
YoY Change -99.89%
Pretax Income $213.3K -$151.00 -$15.24M
YoY Change -179.51% -99.99% 15014.29%
Income Tax $0.00
% Of Pretax Income
Net Earnings $213.3K $35.87K -$15.24M
YoY Change -1735.07% -124.14% 15014.29%
Net Earnings / Revenue 70.7% 15.81% -6716.8%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$0.09
COMMON SHARES
Basic Shares Outstanding 127.6M shares 82.81M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $95.09K $3.030K $1.449M
YoY Change
Cash & Equivalents $95.09K $3.026K $1.449M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $755.6K $453.8K $227.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $850.7K $456.9K $1.676M
YoY Change 56.69% 1538.27%
LONG-TERM ASSETS
Property, Plant & Equipment $1.208K $1.360K $1.510K
YoY Change
Goodwill
YoY Change
Intangibles $268.0K $268.0K
YoY Change
Long-Term Investments $437.4K $437.4K
YoY Change
Other Assets $169.4K $0.00
YoY Change
Total Long-Term Assets $6.737M $6.737M $5.472M
YoY Change -64.55% 2869.41%
TOTAL ASSETS
Total Short-Term Assets $850.7K $456.9K $1.676M
Total Long-Term Assets $6.737M $6.737M $5.472M
Total Assets $7.588M $7.194M $7.148M
YoY Change -61.18% 2723.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $181.2K $100.0K $100.0K
YoY Change 11052.18%
Accrued Expenses $114.4K $110.6K $100.4K
YoY Change 163.56% 201.66% -14.11%
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 $453.3K $268.4K $258.1K
YoY Change 3.62% -76.51% 47.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $453.3K $268.4K $258.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $453.3K $268.4K $258.1K
YoY Change -52.58% -80.78% 47.82%
SHAREHOLDERS EQUITY
Retained Earnings -$23.07M -$19.39M -$19.42M
YoY Change 946.91% 909.48% 2109.61%
Common Stock $12.78K $126.2K $126.2K
YoY Change -88.33% 1120.72% 1120.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.134M $6.926M $6.890M
YoY Change
Total Liabilities & Shareholders Equity $7.588M $7.194M $7.148M
YoY Change -61.18% 2723.71%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $213.3K $35.87K -$15.24M
YoY Change -1735.07% -124.14% 15014.29%
Depreciation, Depletion And Amortization $151.00
YoY Change
Cash From Operating Activities -$2.940K -$180.6K -$14.95M
YoY Change -99.75% -38.26%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.265M $5.033M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $18.55M
YoY Change
Cash From Investing Activities $0.00 -$1.265M $13.52M
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 95.00K 2.716M
YoY Change -99.53%
NET CHANGE
Cash From Operating Activities -2.940K -$180.6K -14.95M
Cash From Investing Activities 0.000 -$1.265M 13.52M
Cash From Financing Activities 95.00K 2.716M
Net Change In Cash 92.06K -$1.446M 1.286M
YoY Change -83.19% -5284.29%
FREE CASH FLOW
Cash From Operating Activities -$2.940K -$180.6K -$14.95M
Capital Expenditures $0.00 $1.265M $5.033M
Free Cash Flow -$2.940K -$1.446M -$19.98M
YoY Change

Facts In Submission

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<p id="xdx_84F_eus-gaap--UseOfEstimates_z5kX5xNI4rOd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86A_zL3Q3XnGcXLd">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.</span></p>
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