2022 Q4 Form 10-Q Financial Statement

#000149315222032248 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $2.350K $1.150K $0.00
YoY Change
Cost Of Revenue $180.00 $146.00
YoY Change
Gross Profit $2.170K $1.005K
YoY Change
Gross Profit Margin 92.34% 87.39%
Selling, General & Admin $1.429M $596.5K $880.8K
YoY Change 62.21%
% of Gross Profit 65836.87% 59351.24%
Research & Development $197.3K $319.7K $1.326M
YoY Change -85.12% -3.33%
% of Gross Profit 9089.86% 31815.32%
Depreciation & Amortization $7.330K $770.00 $3.180K
YoY Change 130.5%
% of Gross Profit 337.79% 76.62%
Operating Expenses $1.626M $977.2K $2.207M
YoY Change -26.32% 85.67%
Operating Profit -$1.624M -$976.2K
YoY Change 85.48%
Interest Expense -$50.84K $889.1K -$4.357M
YoY Change -98.83% 556.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.675M -$4.919M -$6.324M
YoY Change -73.52% 224.96%
Income Tax $0.00 $300.00 $1.950K
% Of Pretax Income
Net Earnings -$1.675M -$4.919M -$6.326M
YoY Change -73.53% 224.98%
Net Earnings / Revenue -71258.72% -427778.96%
Basic Earnings Per Share -$1.17
Diluted Earnings Per Share -$0.37 -$587.8K -$4.218M
COMMON SHARES
Basic Shares Outstanding 8.370M shares 4.204M shares
Diluted Shares Outstanding 4.204M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.41M $13.50M
YoY Change
Cash & Equivalents $11.40M $13.50M $1.361M
Short-Term Investments
Other Short-Term Assets $531.9K $541.3K
YoY Change
Inventory $5.540K $5.715K
Prepaid Expenses
Receivables $10.49K $9.930K
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.96M $14.05M $1.438M
YoY Change 731.69%
LONG-TERM ASSETS
Property, Plant & Equipment $214.4K $1.781K $4.633K
YoY Change 4528.49%
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.000K $6.000K $2.500K
YoY Change 140.0%
Total Long-Term Assets $220.4K $7.781K $15.08K
YoY Change 1362.28%
TOTAL ASSETS
Total Short-Term Assets $11.96M $14.05M $1.438M
Total Long-Term Assets $220.4K $7.781K $15.08K
Total Assets $12.18M $14.06M $1.453M
YoY Change 738.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $345.0K $149.9K $230.4K
YoY Change 49.75%
Accrued Expenses $541.9K $474.0K $483.5K
YoY Change 12.08%
Deferred Revenue
YoY Change
Short-Term Debt $251.7K $815.1K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.139M $1.464M $13.04M
YoY Change -91.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.139M $1.464M $13.04M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.139M $1.464M $13.20M
YoY Change -91.37%
SHAREHOLDERS EQUITY
Retained Earnings -$36.70M -$35.00M -$28.51M
YoY Change 28.71%
Common Stock $58.67K $58.59K $18.74K
YoY Change 213.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.04M $12.60M -$15.79M
YoY Change
Total Liabilities & Shareholders Equity $12.18M $14.06M $1.453M
YoY Change 738.23%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$1.675M -$4.919M -$6.326M
YoY Change -73.53% 224.98%
Depreciation, Depletion And Amortization $7.330K $770.00 $3.180K
YoY Change 130.5%
Cash From Operating Activities -$1.301M -$1.760M -$1.656M
YoY Change -21.48%
INVESTING ACTIVITIES
Capital Expenditures $220.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$220.0K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -563.6K 15.04M 2.789M
YoY Change -120.2%
NET CHANGE
Cash From Operating Activities -1.301M -1.760M -1.656M
Cash From Investing Activities -220.0K 0.000
Cash From Financing Activities -563.6K 15.04M 2.789M
Net Change In Cash -2.084M 13.28M 1.133M
YoY Change -283.98%
FREE CASH FLOW
Cash From Operating Activities -$1.301M -$1.760M -$1.656M
Capital Expenditures $220.0K $0.00
Free Cash Flow -$1.521M -$1.656M
YoY Change -8.2%

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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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2.20 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.92 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
CY2022Q3 us-gaap Class Of Warrant Or Right Expense Or Revenue Recognized
ClassOfWarrantOrRightExpenseOrRevenueRecognized
Pursuant to the underwriting agreement dated August 31, 2022 (the “Underwriting Agreement”) between the Company and WallachBeth Capital, LLC, as representative of the underwriters (the “Underwriters”), and solely for purposes of covering any over-allotments made in connection with our IPO, we granted the Underwriters an option to purchase up to an additional 192,390 shares of Common Stock at the Offering Price per Unit less $0.02, and/or up to 192,390 Tradeable Warrants at $0.01 per Tradeable Warrant, and/or up to 192,390 Non-tradeable Warrants at $0.01 per Non-tradeable Warrant, or any combination of additional shares of Common Stock, Tradeable Warrants, and Non-tradeable Warrants representing, in the aggregate, up to 15% of the number of Units sold in the IPO (the “Over-Allotment Option”). The Over-Allotment Option was exercisable for a period of 45 days from the date of our Final Prospectus.
us-gaap Debt Instrument Convertible Beneficial Conversion Feature
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CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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5.25

Files In Submission

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0001493152-22-032248-index-headers.html Edgar Link pending
0001493152-22-032248-index.html Edgar Link pending
0001493152-22-032248.txt Edgar Link pending
0001493152-22-032248-xbrl.zip Edgar Link pending
biaf-20220930.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
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