2024 Q2 Form 10-K Financial Statement

#000147793224001718 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $152.00 $0.00 $5.00
YoY Change 15100.0% -99.5%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $67.28K $314.3K
YoY Change 0.66%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.760K $32.59K
YoY Change 67.3%
% of Gross Profit
Operating Expenses $74.81K $67.28K $314.3K
YoY Change 115.9% 0.66%
Operating Profit -$74.66K -$314.3K
YoY Change 115.47% 0.98%
Interest Expense $145.7K -$2.440K $34.30K
YoY Change
% of Operating Profit
Other Income/Expense, Net $50.00 $320.00
YoY Change 220.0%
Pretax Income -$596.3K -$69.67K -$348.3K
YoY Change 1620.92% 11.93%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$596.3K -$69.67K -$348.3K
YoY Change 1620.92% 11.93%
Net Earnings / Revenue -392313.16% -6965760.0%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 24.37M shares 24.23M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00
YoY Change
Cash & Equivalents $33.00 $2.00
Short-Term Investments
Other Short-Term Assets $30.20K $30.20K
YoY Change 15000.0%
Inventory
Prepaid Expenses $30.20K $30.20K
Receivables
Other Receivables
Total Short-Term Assets $30.24K $30.21K $30.21K
YoY Change -17.45% 14634.63% 14285.71%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $235.2K $171.1K
YoY Change 32.12%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $235.2K $171.1K $171.1K
YoY Change 105.18% 32.12% 32.12%
TOTAL ASSETS
Total Short-Term Assets $30.24K $30.21K $30.21K
Total Long-Term Assets $235.2K $171.1K $171.1K
Total Assets $265.4K $201.3K $201.3K
YoY Change 75.48% 55.2% 55.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.8K $145.1K $145.1K
YoY Change 188.87% 22.47% 22.47%
Accrued Expenses $54.79K $54.79K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $55.00K $55.00K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $358.9K $278.2K $278.2K
YoY Change 173.14% 98.23% 98.22%
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 $358.9K $278.2K $278.2K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $278.2K $278.2K
YoY Change 98.22%
SHAREHOLDERS EQUITY
Retained Earnings -$1.521M -$828.8K
YoY Change 133.97% 72.49%
Common Stock $2.537K $2.424K
YoY Change 7.32% 7.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$93.52K -$76.96K -$76.96K
YoY Change
Total Liabilities & Shareholders Equity $265.4K $201.3K $201.3K
YoY Change 75.48% 55.2% 55.2%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$596.3K -$69.67K -$348.3K
YoY Change 1620.92% 11.93%
Depreciation, Depletion And Amortization $9.760K $32.59K
YoY Change 67.3%
Cash From Operating Activities $49.04K -$80.83K
YoY Change 185.33%
INVESTING ACTIVITIES
Capital Expenditures $52.17K $74.17K
YoY Change -25.61%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$52.17K -$74.17K
YoY Change -25.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $100.0K
YoY Change 28.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $155.0K
YoY Change 58.16%
NET CHANGE
Cash From Operating Activities 49.04K -$80.83K
Cash From Investing Activities -52.17K -$74.17K
Cash From Financing Activities 0.000 $155.0K
Net Change In Cash -3.130K $1.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $49.04K -$80.83K
Capital Expenditures $52.17K $74.17K
Free Cash Flow -$3.130K -$155.0K
YoY Change 21.06%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p>
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