2021 Q3 Form 10-Q Financial Statement

#000155837021011476 Filed on August 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $1.251M $1.168M $31.00K
YoY Change 334.38% 3667.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.768M $2.139M $1.973M
YoY Change -4.17% 8.41% -5.14%
% of Gross Profit
Research & Development $5.626M $5.225M $2.648M
YoY Change 38.37% 97.32% -14.03%
% of Gross Profit
Depreciation & Amortization $300.0K $300.0K $300.0K
YoY Change 0.0% 0.0% -10.45%
% of Gross Profit
Operating Expenses $7.394M $7.364M $4.621M
YoY Change 25.09% 59.36% -10.45%
Operating Profit -$6.143M -$6.196M -$4.590M
YoY Change 9.25% 34.99%
Interest Expense $2.000K $0.00 $142.0K
YoY Change -98.67% -100.0% -85.21%
% of Operating Profit
Other Income/Expense, Net $724.0K $2.000K -$120.0K
YoY Change -595.89% -101.67% -3100.0%
Pretax Income -$5.419M -$6.194M -$4.710M
YoY Change -6.07% 31.51% 12.14%
Income Tax
% Of Pretax Income
Net Earnings -$5.419M -$6.194M -$4.710M
YoY Change -6.07% 31.51% 12.14%
Net Earnings / Revenue -433.17% -530.31% -15193.55%
Basic Earnings Per Share -$0.22 -$0.25
Diluted Earnings Per Share -$218.3K -$0.25 -$256.7K
COMMON SHARES
Basic Shares Outstanding 24.94M 24.76M
Diluted Shares Outstanding 24.82M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.08M $17.54M $19.79M
YoY Change -23.98% -11.37% 49.98%
Cash & Equivalents $12.10M $17.54M $19.79M
Short-Term Investments
Other Short-Term Assets $851.0K $1.005M $898.0K
YoY Change -25.29% 11.92% -11.09%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.18M $19.71M $20.68M
YoY Change -16.72% -4.71% 45.64%
LONG-TERM ASSETS
Property, Plant & Equipment $2.107M $2.125M $12.95M
YoY Change -83.56% -83.59% 111.22%
Goodwill $3.490M $3.490M
YoY Change
Intangibles $10.26M $10.26M
YoY Change
Long-Term Investments
YoY Change
Other Assets $909.0K $887.0K $2.079M
YoY Change -56.42% -57.34% 148.68%
Total Long-Term Assets $28.49M $28.57M $28.78M
YoY Change -0.55% -0.71% 38.93%
TOTAL ASSETS
Total Short-Term Assets $14.18M $19.71M $20.68M
Total Long-Term Assets $28.49M $28.57M $28.78M
Total Assets $42.67M $48.28M $49.46M
YoY Change -6.58% -2.39% 41.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.811M $2.296M $1.501M
YoY Change -3.21% 52.96% -15.1%
Accrued Expenses $3.443M $2.882M $1.371M
YoY Change 27.14% 110.21% -55.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $725.0K $718.0K
YoY Change -100.0% 0.97%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.254M $5.903M $5.207M
YoY Change -25.69% 13.37% -7.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.59M $10.68M $11.54M
YoY Change -2.97% -7.43% 222.77%
Total Long-Term Liabilities $10.59M $10.68M $11.54M
YoY Change -2.97% -7.43% 222.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.254M $5.903M $5.207M
Total Long-Term Liabilities $10.59M $10.68M $11.54M
Total Liabilities $18.92M $19.66M $19.82M
YoY Change -10.16% -0.81% 61.35%
SHAREHOLDERS EQUITY
Retained Earnings -$196.8M -$191.4M
YoY Change
Common Stock $249.0K $249.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.76M $28.62M $29.64M
YoY Change
Total Liabilities & Shareholders Equity $42.67M $48.28M $49.46M
YoY Change -6.58% -2.39% 41.66%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$5.419M -$6.194M -$4.710M
YoY Change -6.07% 31.51% 12.14%
Depreciation, Depletion And Amortization $300.0K $300.0K $300.0K
YoY Change 0.0% 0.0% -10.45%
Cash From Operating Activities -$4.964M -$4.538M -$3.856M
YoY Change 27.94% 17.69% -33.83%
INVESTING ACTIVITIES
Capital Expenditures -$582.0K -$196.0K -$273.0K
YoY Change 618.52% -28.21% 116.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$582.0K -$196.0K -$273.0K
YoY Change 618.52% -28.21% -109.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 86.00K -185.0K 306.0K
YoY Change 43.33% -160.46% -96.93%
NET CHANGE
Cash From Operating Activities -4.964M -4.538M -3.856M
Cash From Investing Activities -582.0K -196.0K -273.0K
Cash From Financing Activities 86.00K -185.0K 306.0K
Net Change In Cash -5.460M -4.919M -3.823M
YoY Change 39.96% 28.67% -154.38%
FREE CASH FLOW
Cash From Operating Activities -$4.964M -$4.538M -$3.856M
Capital Expenditures -$582.0K -$196.0K -$273.0K
Free Cash Flow -$4.382M -$4.342M -$3.583M
YoY Change 15.35% 21.18% -37.15%

Facts In Submission

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ContributionOfProperty
162000
us-gaap Contribution Of Property
ContributionOfProperty
7000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17536000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19786000
CY2021Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000
CY2020Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18736000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20986000
CY2021Q2 us-gaap Depreciation
Depreciation
300000
us-gaap Depreciation
Depreciation
600000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17500000
us-gaap Depreciation
Depreciation
600000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in its consolidated financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments, which are based on historical and anticipated results and trends, and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.</p>
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
16647219
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
1
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19166428
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12284938
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11759000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11102000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9634000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9055000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2125000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2047000
CY2020Q2 us-gaap Depreciation
Depreciation
300000
armp Term Of Warrant
TermOfWarrant
P5Y
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
907000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
906000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1749000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1950000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1668926
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.30
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M25D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
719750
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.96
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
46134
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
82000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
7474
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
71.89
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2335068
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1115000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2335068
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1115000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
744996
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
466000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2335068
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
16647219
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
19381857
CY2020Q2 armp Operating Lease Base Rent
OperatingLeaseBaseRent
1900000
CY2020Q2 armp Annual Increase In Rent Percentage
AnnualIncreaseInRentPercentage
0.03
CY2020Q2 armp Operating Lease Base Rent End Of Lease Term
OperatingLeaseBaseRentEndOfLeaseTerm
2500000
CY2020Q2 armp Lease And Rental Abatement Credit
LeaseAndRentalAbatementCredit
800000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
11700000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11000000.0
CY2020Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.1289
CY2021Q2 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1200000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
2200000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
31000
CY2020Q2 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
31000
CY2021Q2 us-gaap Interest Expense
InterestExpense
0
CY2020Q2 us-gaap Interest Expense
InterestExpense
142000
us-gaap Interest Expense
InterestExpense
62000
us-gaap Interest Expense
InterestExpense
301000

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