$ARTL
ARTELO BIOSCIENCES, INC.

2024 Q1 Form 10-K Financial Statement

#000164033424000473 Filed on March 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.082M $1.116M $4.234M
YoY Change 2.37% -36.23% -29.0%
% of Gross Profit
Research & Development $1.507M $2.124M $5.696M
YoY Change 22.02% 23.06% 31.73%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.589M $3.240M $9.930M
YoY Change 12.96% -6.79% -3.47%
Operating Profit -$2.589M -$9.930M
YoY Change 12.96% -3.47%
Interest Expense $106.0K $167.0K $0.00
YoY Change -14.52% 21.9% -100.0%
% of Operating Profit
Other Income/Expense, Net $106.0K $641.0K
YoY Change -14.52% 214.22%
Pretax Income -$2.483M -$3.073M -$9.289M
YoY Change 14.53% -7.97% -7.87%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.483M -$3.073M -$9.289M
YoY Change 14.53% -7.97% -7.87%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.78 -$0.97 -$3.14
COMMON SHARES
Basic Shares Outstanding 3.228M shares 3.189M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.609M $2.815M $10.43M
YoY Change 10.02% -66.42% -40.53%
Cash & Equivalents $1.195M $2.815M $2.815M
Short-Term Investments $6.414M $0.00 $7.611M
Other Short-Term Assets $579.0K $554.0K $554.0K
YoY Change -35.88% -29.78% -29.78%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.188M $10.98M $10.98M
YoY Change -50.03% -40.07% -40.07%
LONG-TERM ASSETS
Property, Plant & Equipment $124.0K $21.00K $21.00K
YoY Change 148.0% -65.0% -65.0%
Goodwill
YoY Change
Intangibles $2.039M $2.039M
YoY Change 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $3.000K $3.000K $3.000K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $2.166M $2.063M $2.063M
YoY Change 3.54% -1.86% -1.86%
TOTAL ASSETS
Total Short-Term Assets $8.188M $10.98M $10.98M
Total Long-Term Assets $2.166M $2.063M $2.063M
Total Assets $10.35M $13.04M $13.04M
YoY Change -43.97% -36.14% -36.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $607.0K $1.238M $1.238M
YoY Change -13.41% 36.8% 36.8%
Accrued Expenses $31.00K $23.00K $23.00K
YoY Change -16.22% -42.5% -42.5%
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 $721.0K $1.291M $1.291M
YoY Change -12.61% 29.36% 29.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $96.00K $0.00 $0.00
YoY Change 540.0% -100.0% -100.0%
Total Long-Term Liabilities $96.00K $0.00 $0.00
YoY Change 540.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $721.0K $1.291M $1.291M
Total Long-Term Liabilities $96.00K $0.00 $0.00
Total Liabilities $817.0K $1.291M $1.291M
YoY Change -2.74% 26.44% 26.44%
SHAREHOLDERS EQUITY
Retained Earnings -$42.79M -$40.31M
YoY Change 28.94% 29.94%
Common Stock $3.000K $3.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.537M $11.75M $11.75M
YoY Change
Total Liabilities & Shareholders Equity $10.35M $13.04M $13.04M
YoY Change -43.97% -36.14% -36.14%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.483M -$3.073M -$9.289M
YoY Change 14.53% -7.97% -7.87%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.942M -$2.597M -$8.207M
YoY Change 34.58% 13.26% 2.49%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.269M $2.737M $3.507M
YoY Change -42.29% 52.39% 18.56%
Cash From Investing Activities $1.269M $2.737M $3.507M
YoY Change -42.29% 52.39% 18.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $567.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $55.00K 27.00K $567.0K
YoY Change -79.85%
NET CHANGE
Cash From Operating Activities -$2.942M -2.597M -$8.207M
Cash From Investing Activities $1.269M 2.737M $3.507M
Cash From Financing Activities $55.00K 27.00K $567.0K
Net Change In Cash -$1.620M 167.0K -$4.073M
YoY Change -5885.71% -146.01% -22.77%
FREE CASH FLOW
Cash From Operating Activities -$2.942M -$2.597M -$8.207M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6888000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023 artelobio Non Cash Transaction Initial Recognition Of The Right Of Use Asset And Lease Liability
NonCashTransactionInitialRecognitionOfTheRightOfUseAssetAndLeaseLiability
0 usd
CY2022 artelobio Non Cash Transaction Initial Recognition Of The Right Of Use Asset And Lease Liability
NonCashTransactionInitialRecognitionOfTheRightOfUseAssetAndLeaseLiability
20000 usd
CY2023 artelobio Common Shares Issued As Commitment Fee
CommonSharesIssuedAsCommitmentFee
0 usd
CY2022 artelobio Common Shares Issued As Commitment Fee
CommonSharesIssuedAsCommitmentFee
97000 usd
CY2023 artelobio Non Cash Transaction Unrealized Gain Loss From Available For Sale Securities
NonCashTransactionUnrealizedGainLossFromAvailableForSaleSecurities
0 usd
CY2022 artelobio Non Cash Transaction Unrealized Gain Loss From Available For Sale Securities
NonCashTransactionUnrealizedGainLossFromAvailableForSaleSecurities
24000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-9289000 usd
CY2023 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
18262000 usd
CY2022Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
20000000 usd
CY2023 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
20000000 usd
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
333271 shares
CY2023 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
567000 usd
CY2023 artelobio Aggregate Value For Registration
AggregateValueForRegistration
75000000 usd
CY2023 us-gaap Proceeds From Sale Of Federal Reserve Stock
ProceedsFromSaleOfFederalReserveStock
75000000 usd
CY2023 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
1206000 usd
CY2022 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
1041000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2815000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6888000 usd
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 artelobio Amount In Excess Of Fdic Insurance Amount
AmountInExcessOfFdicInsuranceAmount
2315000 usd
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
7611000 usd
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
9150000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1495000 usd
CY2023Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
7611000 usd
CY2023Q4 us-gaap Debt Securities Noncurrent
DebtSecuritiesNoncurrent
0 usd
CY2023Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
7611000 usd
CY2022Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
9150000 usd
CY2022Q4 us-gaap Debt Securities Noncurrent
DebtSecuritiesNoncurrent
1495000 usd
CY2022Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
10645000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management has assessed the financial strength and credit worthiness, and will continue to do so on an ongoing basis, of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.</p>
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
1020000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
2458000 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
761738 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
583162 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
416667 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
333271 shares
CY2023 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
567000 usd
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3188959 shares
CY2023Q4 artelobio Intrinsic Value Of The Warrants
IntrinsicValueOfTheWarrants
0 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
24855000 usd
CY2023Q4 artelobio Deferred Tax Asset Operating Loss Carryforwards
DeferredTaxAssetOperatingLossCarryforwards
5135000 usd
CY2022Q4 artelobio Deferred Tax Asset Operating Loss Carryforwards
DeferredTaxAssetOperatingLossCarryforwards
4338000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5135000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4338000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2039000 usd
CY2023 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
On April 19, 2022, the Company entered into a lease arrangement for office space with an annual rent of $13 (£11) with the term of April 2022 through September 2023
CY2023 us-gaap Stock Issued1
StockIssued1
38741 usd
CY2023 artelobio Proceeds From Issuance Of Stock
ProceedsFromIssuanceOfStock
55 usd

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0001640334-24-000473.txt Edgar Link pending
0001640334-24-000473-xbrl.zip Edgar Link pending
artelobio-20231231.xsd Edgar Link pending
artl_10k.htm Edgar Link pending
artl_ex231.htm Edgar Link pending
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