2023 Q2 Form 10-Q Financial Statement

#000168316823003564 Filed on May 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $45.04K $42.30K $52.56K
YoY Change 3.47% -19.52% -8.42%
Gross Profit -$45.04K -$42.30K -$52.56K
YoY Change 3.47% -19.52% -8.42%
Gross Profit Margin
Selling, General & Admin $1.116M $1.152M $1.375M
YoY Change -29.46% -16.21% 80.1%
% of Gross Profit
Research & Development $180.4K $210.1K $148.8K
YoY Change 19.25% 41.25% 216.51%
% of Gross Profit
Depreciation & Amortization $6.193K $443.0K $176.1K
YoY Change -97.71% 151.54% 7979.36%
% of Gross Profit
Operating Expenses $1.784M $1.847M $1.700M
YoY Change -12.89% 8.69% 109.75%
Operating Profit -$1.784M -$1.847M -$1.752M
YoY Change -12.89% 5.43% 101.93%
Interest Expense -$538.6K -$307.9K -$1.010K
YoY Change 26561.88% 30386.14% -99.99%
% of Operating Profit
Other Income/Expense, Net -$538.6K -$307.9K -$1.010K
YoY Change 26522.44% 30385.74%
Pretax Income -$2.323M -$2.155M -$1.753M
YoY Change 13.29% 22.93% -81.14%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.323M -$2.155M -$1.753M
YoY Change 13.29% 22.93% -81.14%
Net Earnings / Revenue
Basic Earnings Per Share -$0.15 -$0.17 -$0.14
Diluted Earnings Per Share -$0.15 -$0.17 -$140.7K
COMMON SHARES
Basic Shares Outstanding 14.81M shares 12.85M shares 12.46M shares
Diluted Shares Outstanding 15.35M shares 12.75M shares 12.46M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.605M $239.0K $4.362M
YoY Change 53.98% -94.52% -29.23%
Cash & Equivalents $3.605M $239.0K $4.362M
Short-Term Investments
Other Short-Term Assets $53.78K $52.20K $90.90K
YoY Change 7.39% -42.57% -95.46%
Inventory
Prepaid Expenses
Receivables $371.00 $297.00 $60.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.659M $291.5K $4.453M
YoY Change 53.02% -93.45% -45.45%
LONG-TERM ASSETS
Property, Plant & Equipment $28.28K $34.47K $68.48K
YoY Change -53.01% -49.66% 239.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $233.5K $333.7K $7.160K
YoY Change 3166.01% 4560.47% -94.68%
Total Long-Term Assets $4.053M $4.337M $3.732M
YoY Change -0.63% 16.2% 63.38%
TOTAL ASSETS
Total Short-Term Assets $3.659M $291.5K $4.453M
Total Long-Term Assets $4.053M $4.337M $3.732M
Total Assets $7.712M $4.628M $8.184M
YoY Change 19.2% -43.45% -21.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $316.5K $389.2K $228.0K
YoY Change 14.1% 70.72% -62.9%
Accrued Expenses $173.2K $83.11K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.839M $2.027M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.380M $2.533M $269.3K
YoY Change 935.65% 840.38% -91.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.380M $2.533M $269.3K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.380M $2.533M $269.3K
YoY Change 935.66% 840.38% -91.46%
SHAREHOLDERS EQUITY
Retained Earnings -$76.21M -$73.89M
YoY Change 11.03%
Common Stock $19.95K $12.85K
YoY Change 59.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.332M $2.095M $7.915M
YoY Change
Total Liabilities & Shareholders Equity $7.712M $4.628M $8.184M
YoY Change 19.2% -43.45% -21.66%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.323M -$2.155M -$1.753M
YoY Change 13.29% 22.93% -81.14%
Depreciation, Depletion And Amortization $6.193K $443.0K $176.1K
YoY Change -97.71% 151.54% 7979.36%
Cash From Operating Activities -$1.145M -$1.073M -$1.230M
YoY Change -18.4% -12.74% -32.69%
INVESTING ACTIVITIES
Capital Expenditures $259.5K $0.00 -$665.0K
YoY Change -142.03% -100.0% 120.12%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$259.5K -$270.6K -$665.0K
YoY Change -57.97% -59.31% 120.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.768M -$78.58K -88.72K
YoY Change -11.43% -100.87%
NET CHANGE
Cash From Operating Activities -1.145M -$1.073M -1.230M
Cash From Investing Activities -259.5K -$270.6K -665.0K
Cash From Financing Activities 4.768M -$78.58K -88.72K
Net Change In Cash 3.364M -$1.422M -1.984M
YoY Change -266.5% -28.3% -124.66%
FREE CASH FLOW
Cash From Operating Activities -$1.145M -$1.073M -$1.230M
Capital Expenditures $259.5K $0.00 -$665.0K
Free Cash Flow -$1.404M -$1.073M -$565.0K
YoY Change 78.78% 89.96% -62.96%

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CY2023Q1 us-gaap Use Of Estimates
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<p id="xdx_847_eus-gaap--UseOfEstimates_zjEEn1JWpBzl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline"><span id="xdx_86B_zYvwxjVmw3O9">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The condensed financial statements include some amounts that are based on management's best estimates and judgments. The most significant estimates relate to valuation of capital stock, warrants and options to purchase shares of the Company's common stock, and the estimated recoverability and amortization period for capitalized software development costs. These estimates may be adjusted as more current information becomes available, and any adjustment could be significant.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 us-gaap Cash
Cash
239040 usd
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1400000 usd
CY2023Q1 us-gaap Cash
Cash
239040 usd
CY2023Q1 us-gaap Payments For Software
PaymentsForSoftware
270574 usd
CY2022Q1 us-gaap Payments For Software
PaymentsForSoftware
661214 usd
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
436425 usd
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
168036 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
72731 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66121 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
34470 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41080 usd
CY2023Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2928249 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2491824 usd
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
3968374 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
4134225 usd
CY2023Q1 us-gaap Depreciation
Depreciation
6610 usd
CY2022Q1 us-gaap Depreciation
Depreciation
8091 usd
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
436425 usd
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
168036 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
389183 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
289955 usd
CY2023Q1 AUUD Credit Cards Payable
CreditCardsPayable
15897 usd
CY2022Q4 AUUD Credit Cards Payable
CreditCardsPayable
6072 usd
CY2023Q1 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
83111 usd
CY2022Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
28111 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
488191 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
324138 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
12053 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
21449 usd
CY2023Q1 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
17739 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
357680 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
385908 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1616569 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6669184 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6248131 shares

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