2023 Q4 Form 10-Q Financial Statement

#000147793223008461 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $433.0K $0.00 $0.00
YoY Change
Cost Of Revenue $294.1K $0.00 $0.00
YoY Change
Gross Profit $139.0K $0.00 $0.00
YoY Change
Gross Profit Margin 32.09%
Selling, General & Admin $4.097M $3.710M $4.095M
YoY Change 197.43% 207.04% 230.28%
% of Gross Profit 2948.06%
Research & Development $65.17K $239.2K $252.9K
YoY Change -30.99% -67.91% -43.36%
% of Gross Profit 46.9%
Depreciation & Amortization $37.43K $802.00 $167.00
YoY Change
% of Gross Profit 26.93%
Operating Expenses $4.162M $3.947M $4.348M
YoY Change 182.78% 101.99% 157.83%
Operating Profit -$4.023M -$3.947M -$4.348M
YoY Change 101.99% 425.09%
Interest Expense -$67.73K $0.00 $1.100K
YoY Change -4676.35% -100.0% -24.14%
% of Operating Profit
Other Income/Expense, Net -$85.50K -$276.0K $61.20K
YoY Change -151.43% 9416.31% 7656.4%
Pretax Income -$4.176M -$4.220M -$4.286M
YoY Change 220.24% 115.72% 154.42%
Income Tax -$6.130K $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.162M -$4.222M -$4.286M
YoY Change 219.16% 115.85% 154.42%
Net Earnings / Revenue -961.21%
Basic Earnings Per Share -$0.14 -$0.14
Diluted Earnings Per Share -$0.10 -$0.14 -$0.14
COMMON SHARES
Basic Shares Outstanding 48.77M shares 37.39M shares 37.39M shares
Diluted Shares Outstanding 31.15M

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.908M $2.290M $3.626M
YoY Change 231.01% 430.62% 28.89%
Cash & Equivalents $7.908M $2.287M $3.626M
Short-Term Investments
Other Short-Term Assets $1.664M $440.0K $404.4K
YoY Change 82.26% -61.82% -45.62%
Inventory $0.00
Prepaid Expenses
Receivables $216.5K
Other Receivables $721.6K
Total Short-Term Assets $10.51M $2.729M $4.031M
YoY Change 218.29% 72.25% 13.31%
LONG-TERM ASSETS
Property, Plant & Equipment $11.97M $8.347M $7.735M
YoY Change 45.98% 7.48% 19.55%
Goodwill $3.267M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.793M $173.7K $342.7K
YoY Change 1184.06% 32.15%
Total Long-Term Assets $17.03M $9.143M $8.720M
YoY Change 85.25% 15.77% 34.78%
TOTAL ASSETS
Total Short-Term Assets $10.51M $2.729M $4.031M
Total Long-Term Assets $17.03M $9.143M $8.720M
Total Assets $27.54M $11.87M $12.75M
YoY Change 120.4% 25.21% 27.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.112M $402.0K $670.1K
YoY Change -17.94% -65.24% -23.8%
Accrued Expenses $1.648M $1.092M $807.6K
YoY Change 356.15% 7.28% 22.09%
Deferred Revenue
YoY Change
Short-Term Debt $470.4K $30.00K $33.85K
YoY Change 1289.66% -11.37% 0.0%
Long-Term Debt Due $61.94K
YoY Change
Total Short-Term Liabilities $5.674M $2.602M $1.949M
YoY Change 193.02% 6.09% 7.34%
LONG-TERM LIABILITIES
Long-Term Debt $207.1K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.720M $630.0K $648.2K
YoY Change 266.31% -11.37% -19.26%
Total Long-Term Liabilities $2.927M $630.0K $648.2K
YoY Change 294.21% -11.37% -19.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.674M $2.602M $1.949M
Total Long-Term Liabilities $2.927M $630.0K $648.2K
Total Liabilities $11.25M $3.232M $2.597M
YoY Change 319.81% 2.18% -0.82%
SHAREHOLDERS EQUITY
Retained Earnings -$23.84M -$19.68M -$15.45M
YoY Change 215.62% 214.89%
Common Stock $489.2K $383.5K $373.9K
YoY Change 36.25% 27.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.30M $8.639M $10.15M
YoY Change
Total Liabilities & Shareholders Equity $27.54M $11.87M $12.75M
YoY Change 120.4% 25.21% 27.16%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$4.162M -$4.222M -$4.286M
YoY Change 219.16% 115.85% 154.42%
Depreciation, Depletion And Amortization $37.43K $802.00 $167.00
YoY Change
Cash From Operating Activities -$2.052M -$660.0K -$1.257M
YoY Change 138.09% -4.94% -9.15%
INVESTING ACTIVITIES
Capital Expenditures $1.141M $680.0K $146.6K
YoY Change 26.46% -63.0% -91.54%
Acquisitions
YoY Change
Other Investing Activities -$121.9K
YoY Change
Cash From Investing Activities -$1.263M -$680.0K -$146.6K
YoY Change 39.96% -63.0% -91.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.895M 0.000 0.000
YoY Change 134.68% -100.0%
NET CHANGE
Cash From Operating Activities -2.052M -660.0K -1.257M
Cash From Investing Activities -1.263M -680.0K -146.6K
Cash From Financing Activities 8.895M 0.000 0.000
Net Change In Cash 5.580M -1.340M -1.403M
YoY Change 175.42% -47.08% 428.41%
FREE CASH FLOW
Cash From Operating Activities -$2.052M -$660.0K -$1.257M
Capital Expenditures $1.141M $680.0K $146.6K
Free Cash Flow -$3.194M -$1.340M -$1.403M
YoY Change 80.99% -47.08% -54.96%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">The Company’s condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and disclosure in the Company’s condensed consolidated financial statements and accompanying notes. The most significant estimates in the Company’s consolidated financial statements relate to the valuation of equity instruments and estimating our accrued research and development expenses. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions.</p>
us-gaap Concentration Risk Credit Risk
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">Cash balances are maintained at U.S. financial institutions and may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 per depositor, per insured bank for each account ownership category. Although the Company currently believes that the financial institutions with whom it does business, will be able to fulfill their commitments to the Company, there is no assurance that those institutions will be able to continue to do so. The Company has not experienced any credit losses associated with its balances in such accounts for the three and nine months ended September 30, 2023 and 2022.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">Our foreign subsidiaries held cash of approximately $187,515 and $38,000 as of September 30, 2023 and December 31, 2022, respectively, which is included in cash on the consolidated balance sheets. Our strategic plan does not require the repatriation of foreign cash in order to fund our operations in the U.S., and it is our current intention to indefinitely reinvest our foreign cash outside of the U.S. If we were to repatriate foreign cash to the U.S., we would be required to accrue and pay U.S. taxes in accordance with applicable U.S. tax rules and regulations as a result of the repatriation.</p>
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CY2023Q3 us-gaap Preferred Stock Shares Authorized
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CY2022Q4 aspi Fair Value Of Shares Issue
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aspi Cash Director Fees
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2023Q3 aspi Aggregate Intrinsic Value Exercisable
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2023Q3 aspi Warrants To Purchase Common Stock
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Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
aspi-20230930_cal.xml Edgar Link unprocessable
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0001477932-23-008461-xbrl.zip Edgar Link pending
aspi-20230930.xsd Edgar Link pending
aspi_10q.htm Edgar Link pending
aspi-20230930_def.xml Edgar Link unprocessable
aspi-20230930_lab.xml Edgar Link unprocessable
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aspi_10q_htm.xml Edgar Link completed
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