2022 Q4 Form 10-K Financial Statement

#000129996923000010 Filed on March 29, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $9.302M $39.31M
YoY Change 19.79% 26.44%
Cost Of Revenue $7.259M $29.37M
YoY Change 13.88% 19.16%
Gross Profit $2.043M $9.942M
YoY Change 46.87% 54.28%
Gross Profit Margin 21.96% 25.29%
Selling, General & Admin $391.0K $1.784M
YoY Change 28.62% 38.83%
% of Gross Profit 19.14% 17.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.00K $206.0K
YoY Change 96.55% 119.15%
% of Gross Profit 2.79% 2.07%
Operating Expenses $448.0K $1.784M
YoY Change 12.56% 38.83%
Operating Profit $1.595M $7.952M
YoY Change 60.62% 57.0%
Interest Expense -$117.0K -$101.0K
YoY Change -223.16% -59.44%
% of Operating Profit -7.34% -1.27%
Other Income/Expense, Net $0.00 $2.000K
YoY Change -100.0% -66.67%
Pretax Income $1.478M $7.853M
YoY Change 45.62% 62.86%
Income Tax $167.0K $125.0K
% Of Pretax Income 11.3% 1.59%
Net Earnings $1.306M $7.347M
YoY Change -271.17% -46.01%
Net Earnings / Revenue 14.04% 18.69%
Basic Earnings Per Share $1.05
Diluted Earnings Per Share $0.13 $0.98
COMMON SHARES
Basic Shares Outstanding 8.974M shares
Diluted Shares Outstanding 9.575M shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.72M $11.72M
YoY Change -25.92% -25.92%
Cash & Equivalents $11.72M $11.72M
Short-Term Investments
Other Short-Term Assets $264.0K $264.0K
YoY Change 34.01% 34.01%
Inventory
Prepaid Expenses
Receivables $504.0K
Other Receivables
Total Short-Term Assets $15.78M $11.99M
YoY Change -21.39% -25.18%
LONG-TERM ASSETS
Property, Plant & Equipment $421.0K $8.165M
YoY Change 59.47% 8.74%
Goodwill
YoY Change
Intangibles $144.0K
YoY Change
Long-Term Investments $7.013M $7.013M
YoY Change 49.15% 49.15%
Other Assets $15.15M $15.15M
YoY Change -1.34% -1.34%
Total Long-Term Assets $26.69M $30.49M
YoY Change 13.46% 10.53%
TOTAL ASSETS
Total Short-Term Assets $15.78M $11.99M
Total Long-Term Assets $26.69M $30.49M
Total Assets $42.47M $42.47M
YoY Change -2.59% -2.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $742.0K $742.0K
YoY Change -5.24% -5.24%
Accrued Expenses $12.88M $12.88M
YoY Change 18.91% 18.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.492M $13.62M
YoY Change 7.11% 17.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.492M $13.62M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $13.62M $13.62M
YoY Change -25.6% -25.6%
SHAREHOLDERS EQUITY
Retained Earnings -$170.1M
YoY Change -5.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.662M
YoY Change 0.0%
Treasury Stock Shares 86.00K shares
Shareholders Equity $28.85M $28.85M
YoY Change
Total Liabilities & Shareholders Equity $42.47M $42.47M
YoY Change -2.59% -2.59%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.306M $7.347M
YoY Change -271.17% -46.01%
Depreciation, Depletion And Amortization $57.00K $206.0K
YoY Change 96.55% 119.15%
Cash From Operating Activities $6.545M $8.092M
YoY Change 34.78% -6.86%
INVESTING ACTIVITIES
Capital Expenditures $67.00K $626.0K
YoY Change -169.07% -432.98%
Acquisitions
YoY Change
Other Investing Activities -$113.0K -$1.473M
YoY Change -105.59% -203.15%
Cash From Investing Activities -$180.0K -$2.099M
YoY Change -109.35% -264.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -10.09M
YoY Change -100.0% 4346.7%
NET CHANGE
Cash From Operating Activities 6.545M 8.092M
Cash From Investing Activities -180.0K -2.099M
Cash From Financing Activities 0.000 -10.09M
Net Change In Cash 6.365M -$4.101M
YoY Change -5.97% -146.65%
FREE CASH FLOW
Cash From Operating Activities $6.545M $8.092M
Capital Expenditures $67.00K $626.0K
Free Cash Flow $6.478M $7.466M
YoY Change 30.79% -15.89%

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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Comstock uses a fiscal reporting calendar which begins on January 1 and ends on December 31. The fiscal years presented are the years ended December 31, 2022 (“2022”) and December 31, 2021 (“2021”). Each of the Company’s fiscal quarters ends on the last day of the calendar month.</span></div>
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2022 chci Effective Income Tax Rate Reconciliation Permanent Differences
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CY2022Q4 us-gaap Deferred Tax Assets Investments
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CY2022Q4 chci Deferred Tax Assets Right Of Use Lease Liability
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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1943000 usd
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CY2022Q4 us-gaap Deferred Income Tax Assets Net
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11355000 usd
CY2021Q4 us-gaap Deferred Income Tax Assets Net
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11300000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
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131700000 usd
CY2022 chci Change In Ownership Of Shareholders In Specified Time
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7728000 usd
CY2021 us-gaap Income Loss From Continuing Operations
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16039000 usd
CY2022 us-gaap Preferred Stock Redemption Discount
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2046000 usd
CY2021 us-gaap Preferred Stock Redemption Discount
PreferredStockRedemptionDiscount
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CY2022 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2022 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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16039000 usd
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9393000 usd
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.05
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0.03
CY2022 us-gaap Defined Contribution Plan Cost Recognized
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500000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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400000 usd

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