2023 Q1 Form 10-K Financial Statement

#000095017023007284 Filed on March 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $124.2K $12.66K $1.223M
YoY Change -78.06% -74.89% 101.19%
Cost Of Revenue $461.8K $491.8K $2.011M
YoY Change -13.34% -31.5% 5.73%
Gross Profit -$337.6K -$479.1K -$788.7K
YoY Change -1113.12% -28.22% -39.08%
Gross Profit Margin -271.74% -3784.36% -64.5%
Selling, General & Admin $1.592M $2.836M $4.737M
YoY Change 93.83% 169.25% 43.62%
% of Gross Profit
Research & Development $1.666M $1.576M $5.976M
YoY Change 18.44% 10.69% 44.33%
% of Gross Profit
Depreciation & Amortization $25.78K $20.65K $75.65K
YoY Change 54.7% 19.64% 31.98%
% of Gross Profit
Operating Expenses $3.258M $4.433M $10.71M
YoY Change 46.24% 77.7% 158.74%
Operating Profit -$5.025M -$4.912M -$17.06M
YoY Change 127.29% 55.34% 94.03%
Interest Expense -$1.068M -$333.5K -$2.732M
YoY Change -48.81% 76.66% -192.32%
% of Operating Profit
Other Income/Expense, Net -$1.058M $11.10K -$2.672M
YoY Change -49.29% -104.67% -195.76%
Pretax Income -$6.083M -$5.234M -$19.75M
YoY Change 41.56% 45.86% 229.25%
Income Tax
% Of Pretax Income
Net Earnings -$6.083M -$5.234M -$19.75M
YoY Change 41.56% 45.86% 229.24%
Net Earnings / Revenue -4897.04% -41343.68% -1615.55%
Basic Earnings Per Share -$0.17 -$0.66
Diluted Earnings Per Share -$0.17 -$0.16 -$0.66
COMMON SHARES
Basic Shares Outstanding 36.93M 33.93M 29.80M
Diluted Shares Outstanding 35.57M 29.80M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.344M $11.48M $11.48M
YoY Change 109.48% 92.61% 92.61%
Cash & Equivalents $6.344M $11.48M $11.48M
Short-Term Investments
Other Short-Term Assets $1.508M $344.1K $344.1K
YoY Change 128.59% 38.9% 38.9%
Inventory $513.1K $615.3K $615.3K
Prepaid Expenses
Receivables $94.88K $1.769K $1.770K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.459M $12.44M $12.44M
YoY Change 73.1% 81.64% 81.64%
LONG-TERM ASSETS
Property, Plant & Equipment $579.3K $551.7K $4.876M
YoY Change 78.12% 97.26% -7.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $68.09K $61.38K $61.38K
YoY Change -30.29% 189.46% 189.39%
Other Assets $1.234M $1.215M $1.215M
YoY Change 97.4% 94.4% 94.4%
Total Long-Term Assets $6.104M $6.233M $6.233M
YoY Change 2.66% 3.92% 3.92%
TOTAL ASSETS
Total Short-Term Assets $8.459M $12.44M $12.44M
Total Long-Term Assets $6.104M $6.233M $6.233M
Total Assets $14.56M $18.68M $18.68M
YoY Change 34.44% 45.37% 45.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $581.1K $595.2K $595.2K
YoY Change -3.24% -7.32% -7.32%
Accrued Expenses $748.1K $888.9K $3.624M
YoY Change -70.68% -10.35% 71.44%
Deferred Revenue
YoY Change
Short-Term Debt $250.0K $250.0K $250.0K
YoY Change 0.0% 0.0% 0.0%
Long-Term Debt Due $2.000M
YoY Change
Total Short-Term Liabilities $6.977M $4.974M $4.974M
YoY Change 102.4% 63.01% 63.01%
LONG-TERM LIABILITIES
Long-Term Debt $6.117M $5.268M $5.268M
YoY Change 546.55% -34.77% -34.77%
Other Long-Term Liabilities $3.650M $3.849M $3.849M
YoY Change -16.62% -15.47% -15.47%
Total Long-Term Liabilities $9.767M $9.118M $9.118M
YoY Change 83.46% -27.81% -27.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.977M $4.974M $4.974M
Total Long-Term Liabilities $9.767M $9.118M $9.118M
Total Liabilities $16.74M $14.09M $14.09M
YoY Change 90.91% -10.14% -10.14%
SHAREHOLDERS EQUITY
Retained Earnings -$453.5M -$447.5M
YoY Change 4.62%
Common Stock $3.749K $3.400K
YoY Change 609.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.180M $4.586M $4.586M
YoY Change
Total Liabilities & Shareholders Equity $14.56M $18.68M $18.68M
YoY Change 34.44% 45.37% 45.37%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$6.083M -$5.234M -$19.75M
YoY Change 41.56% 45.86% 229.24%
Depreciation, Depletion And Amortization $25.78K $20.65K $75.65K
YoY Change 54.7% 19.64% 31.98%
Cash From Operating Activities -$4.938M -$2.581M -$10.51M
YoY Change 76.84% -18.76% 11.72%
INVESTING ACTIVITIES
Capital Expenditures $48.65K $75.22K $169.4K
YoY Change -184.68% -172.43% -39.58%
Acquisitions
YoY Change
Other Investing Activities -$5.880K -$4.560K -$96.12K
YoY Change -92.99% -88.27% 353.18%
Cash From Investing Activities -$54.53K -$79.77K -$265.5K
YoY Change -61.41% -44.1% -11.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -147.2K 11.29M 16.29M
YoY Change 125.87% 5.12%
NET CHANGE
Cash From Operating Activities -4.938M -2.581M -10.51M
Cash From Investing Activities -54.53K -79.77K -265.5K
Cash From Financing Activities -147.2K 11.29M 16.29M
Net Change In Cash -5.139M 8.633M 5.521M
YoY Change 75.2% 413.65% -4.71%
FREE CASH FLOW
Cash From Operating Activities -$4.938M -$2.581M -$10.51M
Capital Expenditures $48.65K $75.22K $169.4K
Free Cash Flow -$4.986M -$2.656M -$10.68M
YoY Change 82.34% -13.56% 10.23%

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<p style="text-indent:3.333%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Reclassifications:</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> Certain prior year balances have been reclassified to conform to current year presentation. Specifically, prior year accrued expenses was disaggregated to conform to the current year presentation.</span></p>
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The building lease term is for 88 months commencing on September 21, 2020 at a rent of $50,000 per month including taxes, insurance and common area maintenance until December 31, 2020. Beginning January 1, 2021, the rent adjusted to $80,000 per month on a triple net basis and shall increase at an annual rate of 3% per annum until December 31, 2027.
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CY2022 asti Defined Contribution Plan Employee Minimum Age
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CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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31423

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asti-20221231_lab.xml Edgar Link unprocessable
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