$CHUC
Charlie's Holdings, Inc.

2023 Q4 Form 10-Q Financial Statement

#000143774923031976 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $5.544M $2.706M
YoY Change 22.49% -57.9%
Cost Of Revenue $3.579M $1.609M
YoY Change -5.22% -56.17%
Gross Profit $1.965M $1.097M
YoY Change 162.0% -60.2%
Gross Profit Margin 35.44% 40.54%
Selling, General & Admin $1.829M $1.798M
YoY Change -23.12% -33.43%
% of Gross Profit 93.08% 163.9%
Research & Development $37.00K $41.00K
YoY Change -7.5% 355.56%
% of Gross Profit 1.88% 3.74%
Depreciation & Amortization $37.00K $37.00K
YoY Change -28.85% -32.73%
% of Gross Profit 1.88% 3.37%
Operating Expenses $1.866M $3.448M
YoY Change -22.86% -45.96%
Operating Profit $99.00K -$742.0K
YoY Change -105.93% -1713.04%
Interest Expense -$127.0K $121.0K
YoY Change -66.93% 1628.57%
% of Operating Profit -128.28%
Other Income/Expense, Net $0.00 $34.00K
YoY Change -85.83%
Pretax Income -$27.00K -$708.0K
YoY Change -98.68% -347.55%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$27.00K -$708.0K
YoY Change -98.58% -393.78%
Net Earnings / Revenue -0.49% -26.16%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 224.5M 224.6M
Diluted Shares Outstanding 216.7M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $367.0K $739.0K
YoY Change 42.8% 58.58%
Cash & Equivalents $367.0K $739.0K
Short-Term Investments
Other Short-Term Assets $604.0K $793.0K
YoY Change -22.56% -16.53%
Inventory $3.826M $3.783M
Prepaid Expenses
Receivables $289.0K $489.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.086M $5.804M
YoY Change -13.06% -28.35%
LONG-TERM ASSETS
Property, Plant & Equipment $581.0K $194.0K
YoY Change 86.82% -44.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $101.0K $101.0K
YoY Change 0.0% 14.77%
Total Long-Term Assets $682.0K $817.0K
YoY Change -43.68% -38.39%
TOTAL ASSETS
Total Short-Term Assets $5.086M $5.804M
Total Long-Term Assets $682.0K $817.0K
Total Assets $5.768M $6.621M
YoY Change -18.31% -30.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.472M $1.293M
YoY Change 20.46% -14.14%
Accrued Expenses $1.215M $1.321M
YoY Change -9.8% -19.25%
Deferred Revenue $58.00K $142.0K
YoY Change -60.81% -42.04%
Short-Term Debt $700.0K $1.500M
YoY Change 133.33% 403.36%
Long-Term Debt Due $716.0K $200.0K
YoY Change -28.4% -80.0%
Total Short-Term Liabilities $4.754M $5.682M
YoY Change -0.61% 7.21%
LONG-TERM LIABILITIES
Long-Term Debt $1.048M $1.072M
YoY Change 598.67% 614.67%
Other Long-Term Liabilities $73.00K $115.0K
YoY Change -82.94% -78.14%
Total Long-Term Liabilities $1.121M $1.187M
YoY Change 93.94% 75.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.754M $5.682M
Total Long-Term Liabilities $1.121M $1.187M
Total Liabilities $5.875M $6.869M
YoY Change 9.59% 15.6%
SHAREHOLDERS EQUITY
Retained Earnings -$8.540M -$8.513M
YoY Change 32.46% 87.35%
Common Stock $229.0K $225.0K
YoY Change 4.57% 3.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$107.0K -$248.0K
YoY Change
Total Liabilities & Shareholders Equity $5.768M $6.621M
YoY Change -18.31% -30.09%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$27.00K -$708.0K
YoY Change -98.58% -393.78%
Depreciation, Depletion And Amortization $37.00K $37.00K
YoY Change -28.85% -32.73%
Cash From Operating Activities -$47.00K -$860.0K
YoY Change -76.26% 249.59%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -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 -325.0K 1.256M
YoY Change 318.67%
NET CHANGE
Cash From Operating Activities -47.00K -860.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -325.0K 1.256M
Net Change In Cash -372.0K 396.0K
YoY Change 77.99% -1900.0%
FREE CASH FLOW
Cash From Operating Activities -$47.00K -$860.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$47.00K -$860.0K
YoY Change -77.51% 405.88%

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i><span style="text-decoration: underline; ">Use of Estimates</span></i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:27pt;">The preparation of financial statements in conformity with U.S. GAAP 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 dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</p>
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1700000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
948000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2023Q3 chuc Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
150000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2798000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-26000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
2772000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-708000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
241000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2066000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
311000 usd
CY2023Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-0 usd
CY2022Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
246000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-0 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
598000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-708000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2066000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-287000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216715553
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
212823575
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
215569818
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
211967458
CY2023Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
31268169
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
31268170
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216715553
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
244091744
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215569818
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
243235628
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
75036000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46381000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6003000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.56
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
231000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.45
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5772000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.56
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M6D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
5768000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0.56
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
526000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
522000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
113000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
127000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
338000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
382000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
113000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
127000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
338000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
382000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
15000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
118000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
130000 usd
us-gaap Lease Cost
LeaseCost
353000 usd
us-gaap Lease Cost
LeaseCost
385000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
202000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
387000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
440000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M2D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
90000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
385000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
75000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
549000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
23000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
526000 usd

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