2024 Q1 Form 10-K Financial Statement

#000168316824002035 Filed on April 01, 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 $48.17K $50.87K $181.7K
YoY Change 13.88% -1.95% 0.55%
Gross Profit -$48.17K -$50.87K -$181.7K
YoY Change 13.88% -1.95% 0.55%
Gross Profit Margin
Selling, General & Admin $1.357M $1.311M $4.673M
YoY Change 17.82% 19.09% -4.58%
% of Gross Profit
Research & Development $165.5K $163.4K $781.0K
YoY Change -21.23% -5.7% 19.26%
% of Gross Profit
Depreciation & Amortization $483.7K $490.0K $1.841M
YoY Change 9.19% 81.72% 85.64%
% of Gross Profit
Operating Expenses $2.055M $1.964M $7.476M
YoY Change 11.22% 27.25% 11.18%
Operating Profit -$2.055M -$2.015M -$7.476M
YoY Change 11.22% 26.3% 11.18%
Interest Expense -$152.7K -$197.7K -$1.331M
YoY Change -50.4% 17.72% 669.31%
% of Operating Profit
Other Income/Expense, Net -$152.7K -$1.331M
YoY Change -50.4% 669.32%
Pretax Income -$2.207M -$2.213M -$8.807M
YoY Change 2.41% 25.48% 27.69%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.207M -$2.213M -$8.807M
YoY Change 2.41% 25.48% 27.69%
Net Earnings / Revenue
Basic Earnings Per Share -$1.98 -$12.93
Diluted Earnings Per Share -$1.98 -$2.77 -$12.93
COMMON SHARES
Basic Shares Outstanding 2.194M shares 19.95M shares 681.2K shares
Diluted Shares Outstanding 1.114M shares 681.2K shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.733M $804.6K $804.6K
YoY Change 1043.13% -51.57% -51.57%
Cash & Equivalents $2.733M $804.6K
Short-Term Investments
Other Short-Term Assets $7.150K $7.150K $28.99K
YoY Change -86.3%
Inventory
Prepaid Expenses $50.61K
Receivables $435.00 $494.00 $490.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.766M $834.0K $834.0K
YoY Change 848.61% -49.8% -49.8%
LONG-TERM ASSETS
Property, Plant & Equipment $11.61K $18.10K $18.10K
YoY Change -66.33% -55.94% -55.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $205.6K $203.0K $203.0K
YoY Change -38.38% -26.1% -26.1%
Total Long-Term Assets $3.459M $3.569M $3.569M
YoY Change -20.22% -19.8% -19.8%
TOTAL ASSETS
Total Short-Term Assets $2.766M $834.0K $834.0K
Total Long-Term Assets $3.459M $3.569M $3.569M
Total Assets $6.225M $4.403M $4.403M
YoY Change 34.51% -27.96% -27.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $478.9K $424.5K $424.5K
YoY Change 23.05% 46.41% 46.4%
Accrued Expenses $642.8K $470.2K $470.2K
YoY Change 673.44% 1572.64% 1572.64%
Deferred Revenue
YoY Change
Short-Term Debt $3.025M $3.025M $3.025M
YoY Change 49.24% 70.33% 70.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.204M $3.983M $3.983M
YoY Change 65.97% 76.11% 76.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $72.75K
YoY Change
Total Long-Term Liabilities $72.75K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.204M $3.983M $3.983M
Total Long-Term Liabilities $72.75K $0.00 $0.00
Total Liabilities $4.277M $3.983M $3.983M
YoY Change 68.84% 76.11% 76.11%
SHAREHOLDERS EQUITY
Retained Earnings -$82.75M -$80.54M
YoY Change 11.99% 12.28%
Common Stock $2.194K $854.00
YoY Change -82.93% -93.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.948M $420.4K $420.4K
YoY Change
Total Liabilities & Shareholders Equity $6.225M $4.403M $4.403M
YoY Change 34.51% -27.96% -27.96%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.207M -$2.213M -$8.807M
YoY Change 2.41% 25.48% 27.69%
Depreciation, Depletion And Amortization $483.7K $490.0K $1.841M
YoY Change 9.19% 81.72% 85.64%
Cash From Operating Activities -$1.405M -$1.099M -$4.504M
YoY Change 30.92% -2.78% -5.23%
INVESTING ACTIVITIES
Capital Expenditures $273.4K $288.4K $2.409K
YoY Change 13.63% -36.76%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$273.4K -$288.4K -$1.032M
YoY Change 1.04% 13.63% -46.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.017M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $3.607M -7.500K $4.679M
YoY Change -4689.6% -100.36% 133.94%
NET CHANGE
Cash From Operating Activities -$1.405M -1.099M -$4.504M
Cash From Investing Activities -$273.4K -288.4K -$1.032M
Cash From Financing Activities $3.607M -7.500K $4.679M
Net Change In Cash $1.928M -1.395M -$856.9K
YoY Change -235.54% -298.08% -81.71%
FREE CASH FLOW
Cash From Operating Activities -$1.405M -$1.099M -$4.504M
Capital Expenditures $273.4K $288.4K $2.409K
Free Cash Flow -$1.679M -$1.388M -$4.507M
YoY Change 56.4% 0.23% -5.25%

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<p id="xdx_846_eus-gaap--UseOfEstimates_z6r1YV8m5Oti" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline"> <span id="xdx_86F_zMGS3g5x9Keg">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 periods. 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 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>
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41080 usd
CY2023Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
4307271 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2491824 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
554556 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1411434 usd
CY2023 AUUD Property Plant And Equipment Estimated Useful Lives1
PropertyPlantAndEquipmentEstimatedUsefulLives1
two to five years
CY2023 us-gaap Payments For Software
PaymentsForSoftware
1029157 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
1927298 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1815447 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
956144 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
3347935 usd
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-0 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
585876 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
760940 usd
CY2023Q4 us-gaap Cash
Cash
804556 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
91512 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66121 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18099 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
4134225 usd
CY2023 us-gaap Depreciation
Depreciation
25391 usd
CY2022 us-gaap Depreciation
Depreciation
35495 usd
CY2023 AUUD Amortization Of Software Development Costs
AmortizationOfSoftwareDevelopmentCosts
1815447 usd
CY2022 AUUD Amortization Of Software Development Costs
AmortizationOfSoftwareDevelopmentCosts
956144 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
424510 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
289955 usd
CY2023Q4 AUUD Credit Cards Payable
CreditCardsPayable
16975 usd
CY2022Q4 AUUD Credit Cards Payable
CreditCardsPayable
6072 usd
CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
470179 usd
CY2022Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
28111 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
911664 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
324138 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
61724 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
104223 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0376 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0424 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term Simplified Method
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTermSimplifiedMethod
6.22 - 6.38
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.77 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.088 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
1025420 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1001889 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
717274 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.045 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.045 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.010 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.006 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.244 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.244 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q4 AUUD Federal Net Operation Losses
FederalNetOperationLosses
4135331 usd
CY2022Q4 AUUD Federal Net Operation Losses
FederalNetOperationLosses
2324319 usd
CY2023Q4 AUUD State Net Operation Losses
StateNetOperationLosses
713407 usd
CY2022Q4 AUUD State Net Operation Losses
StateNetOperationLosses
397846 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
731311 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
618691 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
12773 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
12772 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5592822 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3353628 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Software
DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware
742450 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Software
DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware
556492 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4451 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
10103 usd
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
746901 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
566595 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
4845921 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2787033 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4845921 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2787033 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4845921 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2787033 usd
CY2024Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-25 reverse stock split
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
265079 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
252750 shares
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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