2024 Q3 Form 10-Q Financial Statement

#000147793224004635 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $8.000K
YoY Change -100.0%
Cost Of Revenue $0.00 $3.200K
YoY Change -100.0%
Gross Profit $0.00 $4.800K
YoY Change -100.0%
Gross Profit Margin 60.0%
Selling, General & Admin $498.6K $676.1K
YoY Change -6.11% -21.34%
% of Gross Profit 14085.13%
Research & Development $581.8K $924.7K
YoY Change -41.39% 198.81%
% of Gross Profit 19265.6%
Depreciation & Amortization $29.27K $29.27K
YoY Change 46.35% 27.15%
% of Gross Profit 609.79%
Operating Expenses $1.110M $1.630M
YoY Change -28.26% 36.75%
Operating Profit -$1.110M -$1.625M
YoY Change -28.09% 36.35%
Interest Expense $69.54K $67.58K
YoY Change -22.73% -24.84%
% of Operating Profit
Other Income/Expense, Net $69.54K $67.58K
YoY Change -22.07% -24.84%
Pretax Income -$1.040M -$1.558M
YoY Change -28.46% 41.34%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.040M -$1.558M
YoY Change -28.46% 41.34%
Net Earnings / Revenue -19471.6%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.75 -$1.11
COMMON SHARES
Basic Shares Outstanding 1.338M shares 1.348M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.260M $7.471M
YoY Change 38.81% 87.28%
Cash & Equivalents $6.260M $7.471M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $67.61K $129.1K
YoY Change -99.1% -98.67%
Inventory $3.394K $3.394K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.331M $7.604M
YoY Change -47.43% -44.64%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.280K $3.280K
YoY Change 0.0%
Total Long-Term Assets $556.5K $385.8K
YoY Change 18.45% -1.8%
TOTAL ASSETS
Total Short-Term Assets $6.331M $7.604M
Total Long-Term Assets $556.5K $385.8K
Total Assets $6.888M $7.990M
YoY Change -44.96% -43.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $273.8K $322.2K
YoY Change -25.41% -6.46%
Accrued Expenses $42.92K $39.92K
YoY Change 7.52% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $330.9K $376.3K
YoY Change -21.43% -5.58%
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 $330.9K $376.3K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $330.9K $376.3K
YoY Change -21.43% -5.58%
SHAREHOLDERS EQUITY
Retained Earnings -$62.74M -$61.70M
YoY Change 9.26% 10.24%
Common Stock $1.431K $1.431K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.557M $7.613M
YoY Change
Total Liabilities & Shareholders Equity $6.888M $7.990M
YoY Change -44.96% -43.45%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.040M -$1.558M
YoY Change -28.46% 41.34%
Depreciation, Depletion And Amortization $29.27K $29.27K
YoY Change 46.35% 27.15%
Cash From Operating Activities -$985.6K -$1.469M
YoY Change -24.19% 48.91%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$200.0K $0.00
YoY Change -110.99% -100.0%
Cash From Investing Activities -$200.0K $0.00
YoY Change -110.99% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.45K -66.61K
YoY Change
NET CHANGE
Cash From Operating Activities -985.6K -1.469M
Cash From Investing Activities -200.0K 0.000
Cash From Financing Activities -25.45K -66.61K
Net Change In Cash -1.211M -1.536M
YoY Change -332.89% -72.21%
FREE CASH FLOW
Cash From Operating Activities -$985.6K -$1.469M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em><strong>Use of Estimates –</strong></em>The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
us-gaap Concentration Risk Credit Risk
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Concentration Risks</em></strong> – The Federal Deposit Insurance Corporation insures cash deposits in most general bank accounts for up to $250,000 per institution. The Company maintains its cash balances at <strong>four</strong> financial institutions. As of June 30, 2024, the Company’s balance exceeded the limit at three institutions.</p>
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