2023 Q4 Form 10-Q Financial Statement

#000149315223041125 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $0.00 $65.00K $0.00
YoY Change -100.0%
Cost Of Revenue $0.00 $5.200K $0.00
YoY Change -100.0%
Gross Profit $0.00 $59.80K $0.00
YoY Change -100.0%
Gross Profit Margin 92.0%
Selling, General & Admin $926.8K $980.0K $601.1K
YoY Change 114.85% 63.03% 250.02%
% of Gross Profit 1638.8%
Research & Development $409.0K $380.0K $39.42K
YoY Change 154.2% 864.02%
% of Gross Profit 635.48%
Depreciation & Amortization $1.730K $0.00 $440.00
YoY Change 284.44% -100.0%
% of Gross Profit 0.0%
Operating Expenses $1.336M $1.364M $640.6K
YoY Change 125.55% 112.93% 272.98%
Operating Profit -$1.336M -$1.304M -$640.6K
YoY Change 129.1% 103.6% 272.98%
Interest Expense -$2.210K $5.758K -$124.2K
YoY Change -98.04% -104.64% 873.8%
% of Operating Profit
Other Income/Expense, Net $41.03K $51.17K $20.00
YoY Change 255730.0% 0.0%
Pretax Income -$1.297M -$1.250M -$764.7K
YoY Change 86.47% 63.46% 314.53%
Income Tax
% Of Pretax Income
Net Earnings -$1.297M -$1.253M -$764.7K
YoY Change 86.47% 63.85% 314.53%
Net Earnings / Revenue -1927.66%
Basic Earnings Per Share -$0.21 -$0.16
Diluted Earnings Per Share -$0.18 -$0.21 -$0.13
COMMON SHARES
Basic Shares Outstanding 6.095M shares 6.095M shares 4.753M shares
Diluted Shares Outstanding 6.095M shares 4.753M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.625M $3.860M $42.22K
YoY Change 4451.29% 9042.59%
Cash & Equivalents $2.625M $3.856M $42.22K
Short-Term Investments
Other Short-Term Assets $145.9K $350.0K $15.00K
YoY Change 872.53% 2233.33%
Inventory
Prepaid Expenses $145.9K $352.4K
Receivables
Other Receivables
Total Short-Term Assets $2.771M $4.208M $57.22K
YoY Change 3712.59% 7254.89%
LONG-TERM ASSETS
Property, Plant & Equipment $5.970K $6.406K $8.140K
YoY Change -22.46% -21.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $5.980K $6.406K $8.140K
YoY Change -22.33% -21.3%
TOTAL ASSETS
Total Short-Term Assets $2.771M $4.208M $57.22K
Total Long-Term Assets $5.980K $6.406K $8.140K
Total Assets $2.777M $4.215M $65.36K
YoY Change 3354.8% 6348.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.7K $110.5K $120.5K
YoY Change -80.94% -8.33%
Accrued Expenses $80.69K $122.3K $842.0K
YoY Change -80.61% -85.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $213.3K $1.484M
YoY Change -100.0% -85.63%
Long-Term Debt Due $210.0K
YoY Change
Total Short-Term Liabilities $184.4K $446.1K $2.479M
YoY Change -94.12% -82.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $184.4K $446.1K $2.479M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $184.4K $450.0K $2.479M
YoY Change -94.12% -81.85%
SHAREHOLDERS EQUITY
Retained Earnings -$9.755M -$8.458M
YoY Change 121.75%
Common Stock $61.00 $61.00
YoY Change 52.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.592M $3.769M -$2.413M
YoY Change
Total Liabilities & Shareholders Equity $2.777M $4.215M $65.36K
YoY Change 3354.8% 6348.71%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.297M -$1.253M -$764.7K
YoY Change 86.47% 63.85% 314.53%
Depreciation, Depletion And Amortization $1.730K $0.00 $440.00
YoY Change 284.44% -100.0%
Cash From Operating Activities -$1.021M -$1.390M -$259.2K
YoY Change 2475.79% 436.2% -11.97%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
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 -211.6K -210.0K 63.00K
YoY Change -484.1% -433.33% -80.47%
NET CHANGE
Cash From Operating Activities -1.021M -1.390M -259.2K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -211.6K -210.0K 63.00K
Net Change In Cash -1.233M -1.600M -196.2K
YoY Change -8080.19% 715.37% -800.57%
FREE CASH FLOW
Cash From Operating Activities -$1.021M -$1.390M -$259.2K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$1.390M -$259.2K
YoY Change 436.2% -11.97%

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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-2413360 usd
us-gaap Net Income Loss
NetIncomeLoss
-4058923 usd
us-gaap Net Income Loss
NetIncomeLoss
-2106969 usd
us-gaap Depreciation
Depreciation
1293 usd
us-gaap Depreciation
Depreciation
604 usd
us-gaap Share Based Compensation
ShareBasedCompensation
511177 usd
us-gaap Share Based Compensation
ShareBasedCompensation
290876 usd
BFRG Issuance Of Stock For License
IssuanceOfStockForLicense
189828 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
50000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-92959 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
20000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
174998 usd
BFRG Receivables With Imputed Interest Amount
ReceivablesWithImputedInterestAmount
-6971 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
337433 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
15000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-433490 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
51946 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-796865 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
409502 usd
BFRG Increase Decrease In Accrued Expenses Related Parties
IncreaseDecreaseInAccruedExpensesRelatedParties
104000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-32000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
22000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4983282 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-871244 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8744 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8744 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7293651 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1494658 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
961190 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
100000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
319950 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
49000 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
213290 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8781649 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
912190 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3798367 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
32202 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57670 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10014 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3856037 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42216 usd
us-gaap Interest Paid Net
InterestPaidNet
93916 usd
us-gaap Interest Paid Net
InterestPaidNet
4399 usd
BFRG Reclassification Of Warrant
ReclassificationOfWarrant
11097 usd
us-gaap Notes Assumed1
NotesAssumed1
1535615 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
226138 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
49000 usd
CY2021Q4 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.05 pure
CY2021Q4 us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.01 pure
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 BFRG Shares Exchanged For Each Convertible Preferred Stock
SharesExchangedForEachConvertiblePreferredStock
10 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
205984 shares
CY2022 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
226138 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
7692 shares
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
50000 usd
CY2023Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
436533 shares
CY2023Q2 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1494658 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
69217 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.06
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y29D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
117669 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
438500 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.41
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
507717 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y2M1D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
102441 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
215623 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.97
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y7M20D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
52644 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.87 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.92 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.034 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.041 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.20
CY2023Q3 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
116410 usd
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
475465 usd
CY2022Q3 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
51536 usd
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
290876 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
936000 usd
BFRG Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm
P2Y1M6D
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
92859 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P0Y4M24D
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3796164 shares
CY2023Q3 ecd Trd Arr Adoption Date
TrdArrAdoptionDate
June 6, 2023
CY2023Q3 ecd Trd Arr Ind Name
TrdArrIndName
Vininder Singh
CY2023Q3 ecd Trd Arr Ind Title
TrdArrIndTitle
Chief Executive Officer and Director
CY2023Q3 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
1000000 shares
CY2023Q3 ecd Trd Arr Termination Date
TrdArrTerminationDate
September 30, 2024
CY2023Q3 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
1000000 shares

Files In Submission

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bfrg-20230930_cal.xml Edgar Link unprocessable
0001493152-23-041125-index-headers.html Edgar Link pending
0001493152-23-041125-index.html Edgar Link pending
0001493152-23-041125.txt Edgar Link pending
0001493152-23-041125-xbrl.zip Edgar Link pending
bfrg-20230930.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
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R18.htm Edgar Link pending
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R2.htm Edgar Link pending
R20.htm Edgar Link pending
bfrg-20230930_pre.xml Edgar Link unprocessable
bfrg-20230930_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
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R6.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
bfrg-20230930_def.xml Edgar Link unprocessable