2023 Q4 Form 20-F Financial Statement

#000173112224000712 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $73.69M $7.376M
YoY Change 899.01% -51.33%
Cost Of Revenue $72.53M $3.378M
YoY Change 2047.43% -61.05%
Gross Profit $1.154M $3.998M
YoY Change -71.14% -38.32%
Gross Profit Margin 1.57% 54.21%
Selling, General & Admin $13.77M $7.503M
YoY Change 83.59% -79.06%
% of Gross Profit 1193.76% 187.65%
Research & Development $2.570M $4.462M
YoY Change -42.4% -66.12%
% of Gross Profit 222.75% 111.59%
Depreciation & Amortization $260.9K $278.6K
YoY Change -6.35% -92.79%
% of Gross Profit 22.61% 6.97%
Operating Expenses $30.04M $12.00M
YoY Change 150.35% -75.51%
Operating Profit -$28.88M -$8.000M
YoY Change 261.06% -81.18%
Interest Expense $222.1K $331.3K
YoY Change -32.97% -207.16%
% of Operating Profit
Other Income/Expense, Net -$217.9K -$307.4K
YoY Change -29.12% 113.82%
Pretax Income -$29.10M -$8.307M
YoY Change 250.32% -86.47%
Income Tax $6.081K $1.098M
% Of Pretax Income
Net Earnings -$19.30M -$9.365M
YoY Change 106.06% -83.61%
Net Earnings / Revenue -26.19% -126.97%
Basic Earnings Per Share $0.30 $0.03
Diluted Earnings Per Share $0.30 -$1.23
COMMON SHARES
Basic Shares Outstanding 58.40M shares 29.72M shares 7.639M shares
Diluted Shares Outstanding 30.98M shares 8.565M shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00K
YoY Change -40.99%
Cash & Equivalents $407.6K $80.00K
Short-Term Investments
Other Short-Term Assets $1.830M
YoY Change 1.45%
Inventory $17.55M $0.00
Prepaid Expenses
Receivables $15.16M $13.49M
Other Receivables $4.183M $6.130M
Total Short-Term Assets $39.28M $21.53M
YoY Change 82.44% -0.8%
LONG-TERM ASSETS
Property, Plant & Equipment $3.545M $3.880M
YoY Change -7.56% -9.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.720M
YoY Change -8.62%
Other Assets $2.500M
YoY Change 46.64%
Total Long-Term Assets $9.981M $12.75M
YoY Change -21.69% -13.89%
TOTAL ASSETS
Total Short-Term Assets $39.28M $21.53M
Total Long-Term Assets $9.981M $12.75M
Total Assets $49.26M $34.28M
YoY Change 43.72% -6.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $318.7K $12.11M
YoY Change -64.01% 1162.51%
Accrued Expenses $240.0K
YoY Change -52.15%
Deferred Revenue
YoY Change
Short-Term Debt $273.7K $1.260M
YoY Change -78.31% 46.36%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $5.664M $17.41M
YoY Change -67.46% -4.77%
LONG-TERM LIABILITIES
Long-Term Debt $1.390M
YoY Change 168.55%
Other Long-Term Liabilities $950.0K
YoY Change 1430.78%
Total Long-Term Liabilities $2.976M $2.340M
YoY Change 27.23% 303.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.664M $17.41M
Total Long-Term Liabilities $2.976M $2.340M
Total Liabilities $8.641M $22.17M
YoY Change -56.24% 3.98%
SHAREHOLDERS EQUITY
Retained Earnings -$56.83M
YoY Change 61.85%
Common Stock $584.0K
YoY Change 490.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.62M $12.11M
YoY Change
Total Liabilities & Shareholders Equity $49.26M $34.28M
YoY Change 43.72% -6.11%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$19.30M -$9.365M
YoY Change 106.06% -83.61%
Depreciation, Depletion And Amortization $260.9K $278.6K
YoY Change -6.35% -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 $337.2K -$59.03K
YoY Change -671.24% -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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CY2022Q4 bhat Cash And Cash Equivalents From Continuing Operations End Of Year
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CY2021Q4 bhat Cash And Cash Equivalents From Continuing Operations End Of Year
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CY2023Q4 us-gaap Cash
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CY2021 bhat Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operation
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CY2023 bhat Writeoffprovision For Doubtful Trade Receivables
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CY2022 bhat Writeoffprovision For Doubtful Trade Receivables
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CY2022 bhat Additional Of Operating Lease Rightofuse Asset
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CY2021 bhat Additional Of Operating Lease Rightofuse Asset
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<p id="xdx_840_eus-gaap--UseOfEstimates_zXNFjcYDl931" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86B_zTN1W5J7qqT3">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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CY2023Q4 bhat Allowance For Doubtful Accounts Prepayments
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CY2023 bhat Addition
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023 bhat Additions
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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P18Y11M1D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2023Q4 bhat Amount Representing Interest
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Property Plant And Equipment Gross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q4 bhat Less Impairment
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CY2022Q4 bhat Less Impairment
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CY2023Q4 us-gaap Property Plant And Equipment Net
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2023 us-gaap Depreciation And Amortization
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2023Q4 bhat Impairmen Of Intangible Asset
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CY2022Q4 us-gaap Intangible Assets Current
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CY2022 us-gaap Adjustment For Amortization
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CY2021 us-gaap Adjustment For Amortization
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CY2023Q4 us-gaap Short Term Borrowings
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CY2022Q4 us-gaap Short Term Borrowings
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CY2023 us-gaap Interest Expense Debt
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CY2022 us-gaap Interest Expense Debt
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CY2021 us-gaap Interest Expense Debt
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CY2023Q4 bhat Payables To Nontrade Vendors And Service Providers
PayablesToNontradeVendorsAndServiceProviders
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CY2022 bhat Conversion
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CY2022Q4 us-gaap Convertible Debt Current
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CY2022Q4 us-gaap Debt Conversion Converted Instrument Rate
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CY2023Q4 bhat Accounts Receivable Related Party Current
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CY2023Q4 bhat Longterm Loans Related Party
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CY2023 bhat Tax Savings
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CY2022 bhat Tax Savings
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CY2023 bhat Preferential Tax Rate Reduction
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CY2022 bhat Preferential Tax Rate Reduction
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CY2021 bhat Preferential Tax Rate Reduction
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 bhat Allowance For Doubtful Accounts Prc
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AllowanceForDoubtfulAccountsPRC
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CY2023Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Assets Gross
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CY2023Q4 us-gaap Liability For Uncertain Tax Positions Current
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CY2022Q4 us-gaap Liability For Uncertain Tax Positions Current
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CY2021Q4 us-gaap Liability For Uncertain Tax Positions Current
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CY2023Q4 bhat Vat Taxes Payable
VatTaxesPayable
441704 usd
CY2022Q4 bhat Vat Taxes Payable
VatTaxesPayable
471604 usd
CY2023Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
183171 usd
CY2022Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
180244 usd
CY2023Q4 bhat Other Taxes Payable
OtherTaxesPayable
180702 usd
CY2022Q4 bhat Other Taxes Payable
OtherTaxesPayable
189487 usd
CY2023Q4 bhat Taxes Payables
TaxesPayables
805577 usd
CY2022Q4 bhat Taxes Payables
TaxesPayables
841335 usd
CY2023Q4 us-gaap Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
409175 usd
CY2022Q4 us-gaap Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
70402 usd
CY2021Q4 us-gaap Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
50449 usd
CY2023Q2 bhat Closing Price Per Share
ClosingPricePerShare
1.01
CY2023Q2 bhat Closing Purchase Price
ClosingPurchasePrice
42000000 shares
CY2023 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
37567299 usd
CY2022 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
7908957 usd
CY2021 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
12830780 usd
CY2022 bhat Goodwill Impairment Losses
GoodwillImpairmentLosses
-3681 usd
CY2021 bhat Goodwill Impairment Losses
GoodwillImpairmentLosses
-14537 usd
CY2023 bhat Impairment Loss Related To Goodwill
ImpairmentLossRelatedToGoodwill
13693305 usd
CY2022 bhat Impairment Loss Related To Goodwill
ImpairmentLossRelatedToGoodwill
33397 usd
CY2023 bhat Impairment Loss Related To Licensed Software
ImpairmentLossRelatedToLicensedSoftware
1075997 usd
CY2022 bhat Impairment Loss Related To Licensed Software
ImpairmentLossRelatedToLicensedSoftware
0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
3681 usd
CY2023 us-gaap Revenues
Revenues
73686733 usd
CY2022 us-gaap Revenues
Revenues
2195954 usd
CY2021 us-gaap Revenues
Revenues
12139500 usd
CY2023 us-gaap Revenues
Revenues
73686733 usd
CY2022 us-gaap Revenues
Revenues
2195954 usd
CY2021 us-gaap Revenues
Revenues
12139500 usd
CY2023 bhat Segment Asset
SegmentAsset
49262838 usd
CY2022 bhat Segment Asset
SegmentAsset
34276858 usd
CY2023 bhat Net Cash Provided By Used In Financings Activities
NetCashProvidedByUsedInFinancingsActivities
36090179 usd
CY2022 bhat Net Cash Provided By Used In Financings Activities
NetCashProvidedByUsedInFinancingsActivities
10211837 usd
CY2021 bhat Net Cash Provided By Used In Financings Activities
NetCashProvidedByUsedInFinancingsActivities
9098477 usd

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