$CING
Cingulate Inc.

2022 Q4 Form 10-Q Financial Statement

#000149315222031582 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.543M $1.845M $10.88M
YoY Change 83.75% -83.05%
% of Gross Profit
Research & Development $1.932M $2.123M $7.148M
YoY Change 52.94% -70.3%
% of Gross Profit
Depreciation & Amortization $89.72K $101.4K $77.80K
YoY Change -74.87% 30.38%
% of Gross Profit
Operating Expenses $4.475M $2.123M $18.03M
YoY Change 69.05% -88.23%
Operating Profit -$3.968M -$15.28M
YoY Change -74.03%
Interest Expense -$130.0K $104.8K -$23.99K
YoY Change 1869.7% -537.01%
% of Operating Profit
Other Income/Expense, Net -$58.89K -$10.56K
YoY Change 457.68%
Pretax Income -$4.605M -$4.027M -$18.06M
YoY Change 73.53% -77.7%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.605M -$4.027M -$18.06M
YoY Change 73.53% -77.7%
Net Earnings / Revenue
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$0.41 -$356.1K -$2.309M
COMMON SHARES
Basic Shares Outstanding 11.31M shares 11.31M shares
Diluted Shares Outstanding 11.31M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.356M $9.796M
YoY Change -67.53%
Cash & Equivalents $5.356M $9.796M $1.915M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $2.279M $1.991M
YoY Change 34.19%
Inventory
Prepaid Expenses $2.279M $1.991M
Receivables $234.4K $47.35K
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.870M $11.83M
YoY Change -58.32%
LONG-TERM ASSETS
Property, Plant & Equipment $2.905M $2.851M
YoY Change -7.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.535M $3.542M
YoY Change -11.7%
TOTAL ASSETS
Total Short-Term Assets $7.870M $11.83M
Total Long-Term Assets $3.535M $3.542M
Total Assets $11.41M $15.38M
YoY Change -50.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $762.4K $392.8K
YoY Change 188.02%
Accrued Expenses $894.6K $670.7K
YoY Change 48.78%
Deferred Revenue
YoY Change
Short-Term Debt $5.000M $5.000M
YoY Change
Long-Term Debt Due $16.05K $15.81K
YoY Change 6.29%
Total Short-Term Liabilities $7.013M $6.406M
YoY Change 495.98%
LONG-TERM LIABILITIES
Long-Term Debt $21.49K $25.59K
YoY Change -42.74%
Other Long-Term Liabilities $488.8K $578.6K
YoY Change
Total Long-Term Liabilities $510.2K $604.1K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.013M $6.406M
Total Long-Term Liabilities $510.2K $604.1K
Total Liabilities $7.523M $7.010M
YoY Change 268.29%
SHAREHOLDERS EQUITY
Retained Earnings -$69.41M -$64.80M
YoY Change 34.17%
Common Stock $1.131K $1.131K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.882M $8.367M $3.079M
YoY Change
Total Liabilities & Shareholders Equity $11.41M $15.38M
YoY Change -50.17%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$4.605M -$4.027M -$18.06M
YoY Change 73.53% -77.7%
Depreciation, Depletion And Amortization $89.72K $101.4K $77.80K
YoY Change -74.87% 30.38%
Cash From Operating Activities -$4.206M -$3.400M -$2.585M
YoY Change -41.64% 31.5%
INVESTING ACTIVITIES
Capital Expenditures $143.0K $0.00 -$15.77K
YoY Change -119.71% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.250K $0.00
YoY Change
Cash From Investing Activities -$143.0K $3.250K -$15.77K
YoY Change -80.29% -120.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -89.78K 4.996M 3.472M
YoY Change -100.38% 43.89%
NET CHANGE
Cash From Operating Activities -4.206M -3.400M -2.585M
Cash From Investing Activities -143.0K 3.250K -15.77K
Cash From Financing Activities -89.78K 4.996M 3.472M
Net Change In Cash -4.439M 1.600M 871.1K
YoY Change -128.74% 83.66%
FREE CASH FLOW
Cash From Operating Activities -$4.206M -$3.400M -$2.585M
Capital Expenditures $143.0K $0.00 -$15.77K
Free Cash Flow -$4.350M -$3.400M -$2.570M
YoY Change -32.9% 32.31%

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104729 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
933 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
165 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9632 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-104729 usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
7104959 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
150000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
5000000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11229 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
322478 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4988771 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6632481 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6697175 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
717743 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16492745 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1197672 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9795570 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1915415 usd
us-gaap Interest Paid Net
InterestPaidNet
10291 usd
us-gaap Interest Paid Net
InterestPaidNet
8090 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zhAaewCa74Pa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) <span id="xdx_867_zvlrhw3Ohdne">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; 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: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash equivalent deposits, which at various times throughout the fiscal year exceeded the amounts insured by the Federal Deposit Insurance Corporation limit of $<span id="xdx_903_eus-gaap--TimeDepositsAtOrAboveFDICInsuranceLimit_iI_c20220930_zx7A0jUZtSAl" title="Federal deposit insurance corporation limit">250,000</span> (without regard to reconciling items). Management monitors the soundness of these financial institutions and does not believe the Company is subject to any material credit risk relative to the uninsured portion of the deposits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
250000 usd
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
537678 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
761594 usd
CY2022Q3 CING Prepaid Active Pharmaceutical Ingredients
PrepaidActivePharmaceuticalIngredients
209155 usd
CY2021Q4 CING Prepaid Active Pharmaceutical Ingredients
PrepaidActivePharmaceuticalIngredients
264361 usd
CY2022Q3 CING Prepaid Research And Development
PrepaidResearchAndDevelopment
1008502 usd
CY2021Q4 CING Prepaid Research And Development
PrepaidResearchAndDevelopment
643917 usd
CY2022Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2021Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022Q3 CING Prepaid Legal Fees
PrepaidLegalFees
128385 usd
CY2022Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
107773 usd
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
28481 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1991493 usd
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1698353 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4821833 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4811433 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1970342 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1666055 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2851491 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3145378 usd
us-gaap Depreciation
Depreciation
304287 usd
us-gaap Depreciation
Depreciation
528809 usd
CY2022Q3 us-gaap Depreciation
Depreciation
101429 usd
CY2021Q3 us-gaap Depreciation
Depreciation
77797 usd
CY2022Q3 CING Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
250000 usd
CY2021Q4 CING Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
250000 usd
CY2022Q3 CING Accrued Legal And Other Expenses Current
AccruedLegalAndOtherExpensesCurrent
315812 usd
CY2021Q4 CING Accrued Legal And Other Expenses Current
AccruedLegalAndOtherExpensesCurrent
71570 usd
CY2021Q4 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
279730 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
104839 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
670651 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
601300 usd
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_803_eus-gaap--LossContingencyDisclosures_zGePuAgIZrw6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(6) <span id="xdx_821_z85GGDJnc7Sd">Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may, from time to time, be subject to legal proceedings and claims arising in the ordinary course of business and otherwise. A substantial legal liability against us could have an adverse effect on our business, financial condition and results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company records legal costs associated with loss contingencies as incurred and accrues for matters that are material loss contingencies that management determines to be both probable and reasonably estimable in accordance with ASC 450, <i>Contingencies.</i> If a range of loss is estimated, and some amount within that range appears to be a better estimate than any other amount within that range, then that amount is accrued. If no amount within the range can be identified as a better estimate than any other amount, the Company accrues the minimum amount in the range. These amounts are not reduced by amounts that may be recovered under insurance or claims against third parties, but undiscounted receivables from insurers or other third parties may be recognized separately if recovery is considered probable. Management’s judgment is required related to loss contingencies because the outcomes are difficult to predict, and the ultimate resolution may differ from our current analysis. The Company revises accruals in light of new information. While it is not possible to predict the outcome of loss contingencies with certainty, management is of the opinion that adequate provision for potential losses associated with any such matters has been made in the financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of September 30, 2022, the Company has recorded an accrual for a loss contingency related to an employment matter, which represents the low end of the Company’s estimated range of loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Interest Expense
InterestExpense
104839 usd
CY2021Q2 us-gaap Preferred Units Issued
PreferredUnitsIssued
948804 shares
CY2021Q3 us-gaap Preferred Units Issued
PreferredUnitsIssued
1680260 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
240000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
240000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11309412 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0171 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y7D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.0112 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
1.07
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-2733779 usd
CY2022Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-845722 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-719896 usd
CY2022Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-222707 usd
CING Income Tax Reconciliation Permanent Difference
IncomeTaxReconciliationPermanentDifference
11920 usd
CY2022Q3 CING Income Tax Reconciliation Permanent Difference
IncomeTaxReconciliationPermanentDifference
3157 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3685697 usd
CY2022Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1246403 usd
CING Income Tax Reconciliation Research And Development Tax Credit Adjustment
IncomeTaxReconciliationResearchAndDevelopmentTaxCreditAdjustment
-131681 usd
CY2022Q3 CING Income Tax Reconciliation Research And Development Tax Credit Adjustment
IncomeTaxReconciliationResearchAndDevelopmentTaxCreditAdjustment
-131681 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-112261 usd
CY2022Q3 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-49450 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4532968 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
847269 usd
CY2022Q3 CING Deferred Tax Assets Contingent Liability
DeferredTaxAssetsContingentLiability
71550 usd
CY2021Q4 CING Deferred Tax Assets Other Current
DeferredTaxAssetsOtherCurrent
4050 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
49606 usd
CY2022Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2616726 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1201974 usd
CY2022Q3 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1694249 usd
CY2022Q3 CING Deferred Tax Assets Unvested Stock Options Non Current
DeferredTaxAssetsUnvestedStockOptionsNonCurrent
172313 usd
CY2021Q4 CING Deferred Tax Assets Unvested Stock Options Non Current
DeferredTaxAssetsUnvestedStockOptionsNonCurrent
11835 usd
CY2022Q3 CING Deferred Tax Assets Research And Development Tax Credits
DeferredTaxAssetsResearchAndDevelopmentTaxCredits
131681 usd
CY2022Q3 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
104726 usd
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
90480 usd
CY2022Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
69010 usd
CY2022Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4860255 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1357945 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4532968 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
847269 usd
CY2022Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
327287 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
510676 usd
CY2022Q3 CING Deferred Tax Liabilities Accrual To Cash Current
DeferredTaxLiabilitiesAccrualToCashCurrent
3843 usd
CY2021Q4 CING Deferred Tax Liabilities Accrual To Cash Current
DeferredTaxLiabilitiesAccrualToCashCurrent
105075 usd
CY2022Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
323444 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
405601 usd
CY2022Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
327287 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
510676 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-4027247 usd
us-gaap Net Income Loss
NetIncomeLoss
-13071205 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11309412 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11309412 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.16
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5881110 shares
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
27000 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
27000 usd
CY2022Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
9000 usd
CY2021Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
9000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
104839 usd
CING Accrued Interest
AccruedInterest
104839 usd

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