$ARTH
Arch Therapeutics, Inc.

2022 Q2 Form 10-Q Financial Statement

#000185173422000246 Filed on May 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $6.261K $3.130K $4.696K
YoY Change -68.7%
Cost Of Revenue $17.14K $17.43K $16.79K
YoY Change 72.54%
Gross Profit -$10.88K -$14.30K -$12.10K
YoY Change 13919.61%
Gross Profit Margin -173.76% -456.87% -257.58%
Selling, General & Admin $836.2K $1.209M $1.263M
YoY Change -38.98% -9.77% 41.89%
% of Gross Profit
Research & Development $159.8K $527.7K $234.6K
YoY Change -46.28% 28.51% -31.72%
% of Gross Profit
Depreciation & Amortization $799.00 $799.00 $799.00
YoY Change 0.0% 29.5% 114.78%
% of Gross Profit
Operating Expenses $996.1K $1.737M $1.498M
YoY Change -40.28% -0.79% 21.39%
Operating Profit -$1.007M -$1.751M -$1.510M
YoY Change -39.63% 0.02% 22.37%
Interest Expense $39.89K $39.45K $40.33K
YoY Change -0.74% -3.19% 37.8%
% of Operating Profit
Other Income/Expense, Net -$39.89K $960.5K -$40.33K
YoY Change -128.9% -2457.17% -150.61%
Pretax Income -$1.047M -$790.3K -$1.550M
YoY Change -31.58% -55.88% 34.32%
Income Tax
% Of Pretax Income
Net Earnings -$1.047M -$790.3K -$1.550M
YoY Change -31.58% -55.88% 34.32%
Net Earnings / Revenue -16719.85% -25249.78% -33009.94%
Basic Earnings Per Share $0.00 $0.00 -$1.31
Diluted Earnings Per Share -$4.418K -$3.337K -$6.547K
COMMON SHARES
Basic Shares Outstanding 237.1M 237.2M 237.2M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.00K $54.41K $1.088M
YoY Change -98.54% -99.02% 23.73%
Cash & Equivalents $54.98K $54.41K $1.088M
Short-Term Investments
Other Short-Term Assets $83.49K $180.3K $354.2K
YoY Change -77.96% -60.24% 79.69%
Inventory $1.428M $1.198M $1.198M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.567M $1.432M $2.536M
YoY Change -68.58% -79.07% 21.19%
LONG-TERM ASSETS
Property, Plant & Equipment $2.843K $3.642K $4.441K
YoY Change -52.92% -46.75% 6.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.500K $3.500K $3.500K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $6.343K $7.142K $7.941K
YoY Change -33.5% -30.93% 3.4%
TOTAL ASSETS
Total Short-Term Assets $1.567M $1.432M $2.536M
Total Long-Term Assets $6.343K $7.142K $7.941K
Total Assets $1.573M $1.439M $2.544M
YoY Change -68.51% -79.0% 21.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.696M $1.288M $748.9K
YoY Change 511.92% 130.5% 91.46%
Accrued Expenses $223.1K $156.3K $203.5K
YoY Change 32.29% -8.87% -30.78%
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 $1.919M $1.444M $1.952M
YoY Change 32.75% -21.8% 162.97%
LONG-TERM LIABILITIES
Long-Term Debt $2.175M $1.600M $1.600M
YoY Change 35.94% -3.59% -6.92%
Other Long-Term Liabilities $1.494M $1.454M $1.415M
YoY Change 11.99% 12.36% -35.9%
Total Long-Term Liabilities $3.669M $3.054M $3.015M
YoY Change 25.05% 3.4% -23.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.919M $1.444M $1.952M
Total Long-Term Liabilities $3.669M $3.054M $3.015M
Total Liabilities $5.589M $4.499M $4.967M
YoY Change 27.59% -6.3% 6.39%
SHAREHOLDERS EQUITY
Retained Earnings -$53.18M -$52.14M -$51.35M
YoY Change 10.73%
Common Stock $237.0K $236.9K $236.8K
YoY Change -99.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.015M -$3.059M -$2.424M
YoY Change
Total Liabilities & Shareholders Equity $1.573M $1.439M $2.544M
YoY Change -68.51% -79.0% 21.13%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$1.047M -$790.3K -$1.550M
YoY Change -31.58% -55.88% 34.32%
Depreciation, Depletion And Amortization $799.00 $799.00 $799.00
YoY Change 0.0% 29.5% 114.78%
Cash From Operating Activities -$574.4K -$1.034M -$1.179M
YoY Change -67.76% -32.64% 4.3%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 575.0K 0.000 $0.00
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -574.4K -1.034M -$1.179M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 575.0K 0.000 $0.00
Net Change In Cash 590.0 -1.034M -$1.179M
YoY Change -100.03% -122.08% 1375.07%
FREE CASH FLOW
Cash From Operating Activities -$574.4K -$1.034M -$1.179M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$574.4K -$1.034M -$1.179M
YoY Change -67.76% -32.49% 4.3%

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Use of Estimates</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Concentration of Credit Risk</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company maintains its cash in bank deposits accounts, which, at times, <em style="font: inherit;"> may </em>exceed federally insured limits. The Company has <em style="font: inherit;">not</em> experienced any losses in such accounts. The Company believes it is <em style="font: inherit;">not</em> exposed to any significant credit risk on cash.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33756 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33756 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
30114 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28516 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3642 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5240 USD
CY2022Q1 us-gaap Depreciation
Depreciation
799 USD
CY2021Q1 us-gaap Depreciation
Depreciation
617 USD
us-gaap Depreciation
Depreciation
1598 USD
us-gaap Depreciation
Depreciation
989 USD
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
0 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
1197568 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
249571 USD
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1197568 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
844194 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
1093765 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24899014
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.29
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y9M29D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
140151 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
250000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2716917
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.35
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
22432097
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.28
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y7M9D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1750 USD
CY2022Q1 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Number
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingNumber
18733501
CY2022Q1 arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Weighted Average Exercise Price
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingWeightedAverageExercisePrice
0.32
arch Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedOutstandingWeightedAverageRemainingContractualTerm
P1Y9M29D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
22432097
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.28
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y7M9D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1750 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
48000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M4D
CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
-0 USD
CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
-0 USD
CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
-0 USD

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