$BTAX
Biostax Corp.

2024 Q1 Form 10-Q Financial Statement

#000149315224020636 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $254.3K $207.5K
YoY Change 22.52% 14.26%
% of Gross Profit
Research & Development $11.08K $180.9K
YoY Change -93.88%
% of Gross Profit
Depreciation & Amortization $0.00 $13.38K
YoY Change -100.0%
% of Gross Profit
Operating Expenses $265.3K $401.8K
YoY Change -33.97%
Operating Profit -$265.3K -$401.8K
YoY Change -33.97% 121.25%
Interest Expense $71.75K $14.30K
YoY Change 401.78% -115.51%
% of Operating Profit
Other Income/Expense, Net -$71.75K -$14.30K
YoY Change 401.78% -99.37%
Pretax Income -$337.1K -$416.1K
YoY Change -18.99% -83.72%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$337.1K -$416.1K
YoY Change -18.99% -83.72%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 83.71M shares 83.30M shares
Diluted Shares Outstanding 85.78M shares 83.24M shares

Balance Sheet

Concept 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.100K $34.99K
YoY Change -94.0% -95.62%
Cash & Equivalents $2.098K $34.99K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.098K $34.99K
YoY Change -94.0% -95.62%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.500K $12.61K
YoY Change -56.38%
Total Long-Term Assets $5.500K $761.7K
YoY Change -99.28%
TOTAL ASSETS
Total Short-Term Assets $2.098K $34.99K
Total Long-Term Assets $5.500K $761.7K
Total Assets $7.598K $796.7K
YoY Change -99.05% -0.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.352M $1.300M
YoY Change 4.01% -40.1%
Accrued Expenses $136.1K $151.1K
YoY Change -9.93% -96.54%
Deferred Revenue
YoY Change
Short-Term Debt $2.554M $1.288M
YoY Change 98.2% -68.2%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.867M $3.576M
YoY Change 36.09% -68.36%
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 $4.867M $3.576M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $4.867M $3.576M
YoY Change 36.09% -68.36%
SHAREHOLDERS EQUITY
Retained Earnings -$385.7M -$383.4M
YoY Change 0.6%
Common Stock $380.8M $380.6M
YoY Change 0.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.859M -$2.780M
YoY Change
Total Liabilities & Shareholders Equity $7.598K $796.7K
YoY Change -99.05% -0.3%

Cashflow Statement

Concept 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$337.1K -$416.1K
YoY Change -18.99% -83.72%
Depreciation, Depletion And Amortization $0.00 $13.38K
YoY Change -100.0%
Cash From Operating Activities -$53.84K -$265.5K
YoY Change -79.72% 365.79%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 $26.15K $150.0K
YoY Change -82.57%
NET CHANGE
Cash From Operating Activities -$53.84K -$265.5K
Cash From Investing Activities
Cash From Financing Activities $26.15K $150.0K
Net Change In Cash -$27.69K -$115.5K
YoY Change -76.03% 102.63%
FREE CASH FLOW
Cash From Operating Activities -$53.84K -$265.5K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_84C_eus-gaap--UseOfEstimates_z6bD1nFy2s1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_z40sIKNG72e3">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s condensed, consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed, consolidated financial statements and accompanying notes. Actual results could differ from such estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zYaZIk9VSve2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_z5VpkZugov7h">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of a default by the financial institutions holding its cash and cash equivalents to the extent of amounts recorded on the condensed consolidated balance sheets. The cash accounts are insured by the Federal Deposit Insurance Corporation up to $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_c20240331_zyPh5rwHpn85" title="Cash at federal deposit">250,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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0.21 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure

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