2023 Q3 Form 10-Q Financial Statement

#000149315223027868 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $316.2K $385.8K $514.3K
YoY Change -8.12% -25.0% 35.18%
Cost Of Revenue $83.10K $113.6K $93.90K
YoY Change 1.09% 20.99% 58.48%
Gross Profit $233.1K $272.1K $420.4K
YoY Change -11.01% -35.27% 30.88%
Gross Profit Margin 73.72% 70.55% 81.74%
Selling, General & Admin $285.4K $620.3K $535.7K
YoY Change -35.39% 15.78% 70.44%
% of Gross Profit 122.41% 227.93% 127.42%
Research & Development $148.5K $180.9K $185.0K
YoY Change 17.08% -2.22% -24.59%
% of Gross Profit 63.71% 66.47% 44.0%
Depreciation & Amortization $0.00 $1.170K $930.00
YoY Change -100.0% 25.81% 933.33%
% of Gross Profit 0.0% 0.43% 0.22%
Operating Expenses $1.158M $1.433M $9.855M
YoY Change -15.06% -85.46% 117.51%
Operating Profit -$925.1K -$1.161M -$9.435M
YoY Change -16.02% -87.69% 124.12%
Interest Expense $60.00K $731.2K $2.108M
YoY Change -34.34% -65.32% -433.35%
% of Operating Profit
Other Income/Expense, Net $285.0K $142.5K $1.710M
YoY Change 300.0% -91.67% -370.35%
Pretax Income -$640.0K -$1.018M -$7.725M
YoY Change -37.88% -86.82% 59.53%
Income Tax
% Of Pretax Income
Net Earnings -$640.1K -$1.018M -$7.725M
YoY Change -37.87% -86.82% 59.53%
Net Earnings / Revenue -202.4% -264.02% -1501.83%
Basic Earnings Per Share -$0.04 -$0.07 -$0.61
Diluted Earnings Per Share -$0.04 -$0.07 -$610.9K
COMMON SHARES
Basic Shares Outstanding 14.33M shares 13.83M shares 12.64M shares
Diluted Shares Outstanding 14.32M shares 13.87M shares 12.64M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $850.0K $1.043M $3.211M
YoY Change -70.58% -67.51% -42.3%
Cash & Equivalents $753.2K $900.0K $3.200M
Short-Term Investments $100.0K $100.0K
Other Short-Term Assets $8.050M $8.361M $2.737M
YoY Change 184.43% 205.49% 357.54%
Inventory
Prepaid Expenses $107.4K $175.4K $261.2K
Receivables
Other Receivables
Total Short-Term Assets $8.904M $9.405M $5.948M
YoY Change 55.68% 58.11% -3.49%
LONG-TERM ASSETS
Property, Plant & Equipment $12.00K $8.834K $10.62K
YoY Change -2.67% -16.78% 233.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $5.499M
YoY Change -100.0% -100.0% -33.47%
Total Long-Term Assets $12.00K $8.834K $5.509M
YoY Change -99.79% -99.84% -33.36%
TOTAL ASSETS
Total Short-Term Assets $8.904M $9.405M $5.948M
Total Long-Term Assets $12.00K $8.834K $5.509M
Total Assets $8.916M $9.414M $11.46M
YoY Change -21.32% -17.84% -20.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.00K $188.1K $139.3K
YoY Change -10.78% 35.08% -11.19%
Accrued Expenses $413.8K $442.1K $283.2K
YoY Change 30.45% 56.11% 7575.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $485.1K $798.4K $1.067M
YoY Change -52.89% -25.17% -25.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $485.1K $798.4K $1.067M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $490.0K $798.4K $1.067M
YoY Change -52.41% -25.17% -25.24%
SHAREHOLDERS EQUITY
Retained Earnings -$154.6M -$153.9M -$149.1M
YoY Change 2.98% 3.26%
Common Stock $14.37K $160.0M $159.4M
YoY Change -99.99% 0.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.431M $8.615M $10.39M
YoY Change
Total Liabilities & Shareholders Equity $8.916M $9.414M $11.46M
YoY Change -21.32% -17.84% -20.61%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$640.1K -$1.018M -$7.725M
YoY Change -37.87% -86.82% 59.53%
Depreciation, Depletion And Amortization $0.00 $1.170K $930.00
YoY Change -100.0% 25.81% 933.33%
Cash From Operating Activities -$640.0K -$919.5K $1.706M
YoY Change -18.01% -153.89% -327.58%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $1.670M -$620.1K
YoY Change -107.4% -369.36% 23.64%
Acquisitions
YoY Change
Other Investing Activities $280.0K $1.672M $0.00
YoY Change 128.44%
Cash From Investing Activities $270.0K $2.140K -$620.0K
YoY Change -2249.68% -100.35% 23.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 180.0K 417.7K -139.9K
YoY Change -63.32% -398.52% -117.49%
NET CHANGE
Cash From Operating Activities -640.0K -919.5K 1.706M
Cash From Investing Activities 270.0K 2.140K -620.0K
Cash From Financing Activities 180.0K 417.7K -139.9K
Net Change In Cash -190.0K -499.6K 946.4K
YoY Change -37.18% -152.79% -309.65%
FREE CASH FLOW
Cash From Operating Activities -$640.0K -$919.5K $1.706M
Capital Expenditures $10.00K $1.670M -$620.1K
Free Cash Flow -$650.0K -$2.590M $2.326M
YoY Change 0.71% -211.32% -1036.94%

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NetIncomeLoss
-2431822 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
8615295 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
12103443 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
10604441 usd
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1782802 usd
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-634557 usd
us-gaap Net Income Loss
NetIncomeLoss
-13465416 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10390713 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
8958194 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
417719 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
257835 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1018453 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
8615295 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
17531184 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
90674 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
493528 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-7724673 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10390713 usd
us-gaap Net Income Loss
NetIncomeLoss
-2431822 usd
us-gaap Net Income Loss
NetIncomeLoss
-13465416 usd
us-gaap Depreciation
Depreciation
2318 usd
us-gaap Depreciation
Depreciation
1727 usd
us-gaap Share Based Compensation
ShareBasedCompensation
789453 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1782802 usd
BTCS Validator Revenue
ValidatorRevenue
697261 usd
BTCS Validator Revenue
ValidatorRevenue
1077364 usd
BTCS Blockchain Network Fees
BlockchainNetworkFees
1321 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
142500 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1068750 usd
BTCS Sale Of Nonproductive Crypto Assets
SaleOfNonproductiveCryptoAssets
2547322 usd
BTCS Realized Gain On Crypto Assets Transactions
RealizedGainOnCryptoAssetsTransactions
748030 usd
BTCS Realized Gain On Crypto Assets Transactions
RealizedGainOnCryptoAssetsTransactions
469556 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
879509 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
12202225 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
51668 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-63376 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
111417 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
565 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-41940 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
132853 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2045524 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
651105 usd
BTCS Purchase Of Productive Crypto Assets Currencies For Validating
PurchaseOfProductiveCryptoAssetsCurrenciesForValidating
1804213 usd
BTCS Purchase Of Productive Crypto Assets Currencies For Validating
PurchaseOfProductiveCryptoAssetsCurrenciesForValidating
9141785 usd
BTCS Sale Of Productive Crypto Assets Currencies
SaleOfProductiveCryptoAssetsCurrencies
1719871 usd
BTCS Sale Of Productive Crypto Assets Currencies
SaleOfProductiveCryptoAssetsCurrencies
310149 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2558 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-84342 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8834194 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
630801 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
926501 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10604441 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
926501 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9973640 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1203365 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1790551 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2146783 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1400867 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
943418 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3191418 usd
BTCS Series V Preferred Stock Distribution
SeriesVPreferredStockDistribution
2559533 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_847_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zjBTSVMvKU3j" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_867_z9CD2zwRaIQ4">Reclassifications</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior period amounts have been reclassified in order to conform with the current period presentation. These reclassifications have no impact on the Company’s previously reported net income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_z8HjvThQ3jRh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_zK2Se3rwvc27">Concentration of Cash</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances at three financial institutions in checking accounts and money market accounts. The Company considers all highly liquid investments with original maturities of six months or less when purchased to be cash and cash equivalents. As of June 30, 2023 and December 31, 2022, the Company had approximately $<span id="xdx_904_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20230630_zXDFYk8mm57g" title="Cash and cash equivalents">0.9</span> million and $<span id="xdx_90C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20221231_z6SzF8qr4D2b" title="Cash and cash equivalents">2.1</span> million in cash. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20230630__srt--RangeAxis__srt--MaximumMember_zY9PG7bARlZh" title="Cash, FDIC insured amount">250,000</span>. As of June 30, 2023 and December 31, 2022, the Company had approximately $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20230630_zjN2H88JzsZi" title="Cash, FDIC insured amount">0.3</span> million and $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20221231_zmkd3swleWUc" title="Cash, FDIC insured amount">1.7</span> million in excess of the FDIC insured limit, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
900000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2100000 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
300000 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
1700000 usd
us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
900000 usd
us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
12200000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
700000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
500000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_zf1zn5xzswKf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86B_zZ1rCjKqdiN5">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in conformity with U.S. GAAP. This requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. The Company’s significant estimates and assumptions include the recoverability and useful lives of indefinite life intangible assets, stock-based compensation, and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates, including the carrying amount of the indefinite life intangible assets, could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
Tax positions are recognized only when it is more likely than not (i.e., likelihood of greater than 50%), based on technical merits, that the position would be sustained upon examination by taxing authorities. Tax positions that meet the more likely than not threshold are measured using a probability-weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement
BTCS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P2Y9M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1135000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.16
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y9M18D
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
1521296 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.63
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
35000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.02
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
11100
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1135000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.16
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
The Series V: (i) is non-convertible, (ii) has a 20% liquidation preference over the shares of common stock, (iii) is non-voting and (iv) has certain rights to dividends and distributions (at the discretion of the Board)
us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
635000 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
9000 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
65000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3478899 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3825035 shares
CY2023Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
100000 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
356250 usd
CY2022Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
100000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
213750 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
97500000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
975000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
975000000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1150000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.15
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9730 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0372 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0410 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0132 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1590552 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
50000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.63
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
9153 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
4.37
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1631399 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.25
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
228667 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
508182 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
515221 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1895914 usd
CY2023Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
253995 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
295935 usd
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
188144 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
76727 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
442139 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
372662 usd
CY2023Q2 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
254000 usd
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
284000 usd
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1 pure
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
95000 usd
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
45000 usd

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