2022 Q4 Form 20-F Financial Statement

#000173112223000815 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $7.376M $7.376M $15.16M
YoY Change -51.33% -51.33% -3.94%
Cost Of Revenue $3.378M $3.378M $8.672M
YoY Change -61.05% -61.05% -1.39%
Gross Profit $3.998M $3.998M $6.483M
YoY Change -38.32% -38.32% -7.16%
Gross Profit Margin 54.21% 54.21% 42.78%
Selling, General & Admin $7.503M $7.503M $35.83M
YoY Change -79.06% -79.06% 9649.63%
% of Gross Profit 187.65% 187.65% 552.71%
Research & Development $4.462M $4.462M $13.17M
YoY Change -66.12% -66.12% 28129.71%
% of Gross Profit 111.59% 111.59% 203.14%
Depreciation & Amortization $278.6K
YoY Change -92.79%
% of Gross Profit 6.97%
Operating Expenses $11.96M $12.00M $49.00M
YoY Change -75.58% -75.51% 11731.42%
Operating Profit -$7.966M -$8.000M -$42.52M
YoY Change -81.26% -81.18% -747.28%
Interest Expense -$346.5K $331.3K -$309.2K
YoY Change 12.07% -207.16% -11.73%
% of Operating Profit
Other Income/Expense, Net $39.08K -$307.4K -$143.8K
YoY Change -127.18% 113.82% 62.04%
Pretax Income -$8.307M -$8.307M -$61.41M
YoY Change -86.47% -86.47% -1101.85%
Income Tax $1.098M $1.098M $138.1K
% Of Pretax Income
Net Earnings -$9.365M -$9.365M -$57.14M
YoY Change -83.61% -83.61% -1188.06%
Net Earnings / Revenue -126.97% -126.97% -377.01%
Basic Earnings Per Share $0.03
Diluted Earnings Per Share -$1.23 -$1.23 -$11.31M
COMMON SHARES
Basic Shares Outstanding 9.895M shares 7.639M shares
Diluted Shares Outstanding 8.565M shares

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $80.00K $135.6K
YoY Change -26.23% -40.99% -99.14%
Cash & Equivalents $76.54K $80.00K $135.6K
Short-Term Investments
Other Short-Term Assets $1.800M $1.830M $1.804M
YoY Change -0.21% 1.45% -6.05%
Inventory $0.00 $108.6K
Prepaid Expenses
Receivables $13.49M $13.49M $16.68M
Other Receivables $4.704M $6.130M $2.976M
Total Short-Term Assets $21.53M $21.53M $21.70M
YoY Change -0.79% -0.8% -57.18%
LONG-TERM ASSETS
Property, Plant & Equipment $3.835M $3.880M $4.304M
YoY Change -10.91% -9.86% -5.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.700M $1.720M $1.882M
YoY Change -9.68% -8.62% -1.46%
Other Assets $2.500M $2.500M $1.705M
YoY Change 46.64% 46.64% -60.17%
Total Long-Term Assets $12.74M $12.75M $14.81M
YoY Change -13.93% -13.89% -40.77%
TOTAL ASSETS
Total Short-Term Assets $21.53M $21.53M $21.70M
Total Long-Term Assets $12.74M $12.75M $14.81M
Total Assets $34.28M $34.28M $36.51M
YoY Change -6.12% -6.11% -51.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $885.5K $12.11M $959.2K
YoY Change -7.68% 1162.51% 2.04%
Accrued Expenses $0.00 $240.0K $97.05K
YoY Change -100.0% -52.15% -67.65%
Deferred Revenue $900.0K $1.501M
YoY Change -40.03%
Short-Term Debt $1.262M $1.260M $860.9K
YoY Change 46.58% 46.36% -85.33%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $17.41M $17.41M $18.28M
YoY Change -4.78% -4.77% 9.21%
LONG-TERM LIABILITIES
Long-Term Debt $1.390M $517.6K
YoY Change 168.55%
Other Long-Term Liabilities $900.0K $950.0K $62.06K
YoY Change 1350.21% 1430.78%
Total Long-Term Liabilities $2.339M $2.340M $579.7K
YoY Change 303.57% 303.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.41M $17.41M $18.28M
Total Long-Term Liabilities $2.339M $2.340M $579.7K
Total Liabilities $19.75M $22.17M $21.32M
YoY Change -7.38% 3.98% 26.54%
SHAREHOLDERS EQUITY
Retained Earnings -$35.11M -$25.75M
YoY Change 36.37%
Common Stock $98.95K $53.82K
YoY Change 83.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.11M $12.11M $15.19M
YoY Change
Total Liabilities & Shareholders Equity $34.28M $34.28M $36.51M
YoY Change -6.12% -6.11% -51.76%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income -$9.365M -$9.365M -$57.14M
YoY Change -83.61% -83.61% -1188.06%
Depreciation, Depletion And Amortization $278.6K
YoY Change -92.79%
Cash From Operating Activities -$1.598M
YoY Change -91.93%
INVESTING ACTIVITIES
Capital Expenditures $3.429K
YoY Change -100.02%
Acquisitions -$5.00
YoY Change -100.0%
Other Investing Activities $10.00K
YoY Change -99.92%
Cash From Investing Activities $6.336K
YoY Change -100.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.531M
YoY Change -66.59%
NET CHANGE
Cash From Operating Activities -$1.598M
Cash From Investing Activities $6.336K
Cash From Financing Activities $2.531M
Net Change In Cash -$59.03K
YoY Change -99.65%
FREE CASH FLOW
Cash From Operating Activities -$1.598M
Capital Expenditures $3.429K
Free Cash Flow -$1.602M
YoY Change -51.15%

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<p id="xdx_84E_eus-gaap--UseOfEstimates_zsF2wzf39gJ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86E_zgtJ0i3vLwR7">Use of estimates and assumptions</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include the useful lives of plant and equipment and intangible assets, capitalized development costs, impairment of long-lived assets, allowance for doubtful accounts, revenue recognition, allowance for deferred tax assets and uncertain tax position, and inventory allowance. Actual results could differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
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FairValueConcentrationOfRiskCashAndCashEquivalents
15752639 usd
CY2022 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
7908957 usd
CY2021 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
12830780 usd
CY2020 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
2698046 usd
CY2022 bhat Impairment Loss Related To Goodwill
ImpairmentLossRelatedToGoodwill
33397 usd
CY2021 bhat Impairment Loss Related To Goodwill
ImpairmentLossRelatedToGoodwill
18440000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
3681 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
3810000 usd
CY2022 bhat Impairment Loss Related To Licensed Software
ImpairmentLossRelatedToLicensedSoftware
0 usd
CY2021 bhat Impairment Loss Related To Licensed Software
ImpairmentLossRelatedToLicensedSoftware
14630000 usd
CY2022 us-gaap Revenues
Revenues
7376009 usd
CY2021 us-gaap Revenues
Revenues
15155074 usd
CY2020 us-gaap Revenues
Revenues
24599923 usd
CY2022 us-gaap Revenues
Revenues
7376009 usd
CY2021 us-gaap Revenues
Revenues
15155074 usd
CY2020 us-gaap Revenues
Revenues
24599923 usd

Files In Submission

Name View Source Status
bhat-20221231_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001731122-23-000815-index-headers.html Edgar Link pending
0001731122-23-000815-index.html Edgar Link pending
0001731122-23-000815.txt Edgar Link pending
0001731122-23-000815-xbrl.zip Edgar Link pending
bhat-20221231.xsd Edgar Link pending
e4659_20-f.htm Edgar Link pending
e4659_ex12-1.htm Edgar Link pending
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bhat-20221231_cal.xml Edgar Link unprocessable
bhat-20221231_pre.xml Edgar Link unprocessable
bhat-20221231_lab.xml Edgar Link unprocessable
e4659_20-f_htm.xml Edgar Link completed
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