$CING
Cingulate Inc. Stock $cing

$cing Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000149315224012159 Filed on April 01, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$1.141M	$1.812M	$7.266M
YoY Change	-33.7%	-28.75%	-14.58%
% of Gross Profit
Research & Development	$1.807M	$4.985M	$15.49M
YoY Change	-15.11%	158.06%	72.24%
% of Gross Profit
Depreciation & Amortization	$163.6K	$172.9K	$582.9K
YoY Change	62.58%	92.73%	47.94%
% of Gross Profit
Operating Expenses	$1.807M	$6.797M	$15.49M
YoY Change	-15.11%	51.89%	72.24%
Operating Profit	-$2.948M		-$22.76M
YoY Change	-23.42%		30.04%
Interest Expense	$31.25K	-$137.6K	$790.0K
YoY Change	-83.33%	5.81%	170.23%
% of Operating Profit
Other Income/Expense, Net	-$24.26K		-$775.8K
YoY Change	-84.34%		344.52%
Pretax Income	-$2.972M	-$6.935M	-$23.53M
YoY Change	-25.78%	50.59%	33.14%
Income Tax		$0.00
% Of Pretax Income
Net Earnings	-$2.972M	-$6.935M	-$23.53M
YoY Change	-25.78%	50.59%	33.14%
Net Earnings / Revenue
Basic Earnings Per Share	-$0.60		-$26.00
Diluted Earnings Per Share	-$0.60	-$4.69	-$26.00
COMMON SHARES
Basic Shares Outstanding	5.010M shares	18.74M shares	905.2K shares
Diluted Shares Outstanding	4.946M shares		905.2K shares

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.114M	$52.42K	$52.42K
YoY Change	-35.94%	-99.02%	-99.02%
Cash & Equivalents	$1.114M	$52.42K	$52.42K
Short-Term Investments
Other Short-Term Assets	$1.611M	$511.6K	$511.6K
YoY Change	-18.76%	-77.55%	-77.55%
Inventory
Prepaid Expenses
Receivables	$2.250K	$14.62K	$14.62K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$2.727M	$578.6K	$578.6K
YoY Change	-27.35%	-92.65%	-92.65%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.464M	$2.546M	$2.913M
YoY Change	-13.28%	-12.35%	-17.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$2.768M	$2.913M	$2.913M
YoY Change	-18.83%	-17.61%	-17.61%
TOTAL ASSETS
Total Short-Term Assets	$2.727M	$578.6K	$578.6K
Total Long-Term Assets	$2.768M	$2.913M	$2.913M
Total Assets	$5.495M	$3.491M	$3.491M
YoY Change	-23.29%	-69.39%	-69.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$737.9K	$5.199M	$5.199M
YoY Change	23.19%	581.98%	581.98%
Accrued Expenses	$1.118M	$1.652M	$2.010M
YoY Change	59.85%	84.6%	62.8%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$3.000M	$3.000M
YoY Change	-100.0%	-40.0%	-40.0%
Long-Term Debt Due	$17.33K	$17.06K	$17.06K
YoY Change	6.32%	6.29%	6.29%
Total Short-Term Liabilities	$2.245M	$10.23M	$10.23M
YoY Change	-66.28%	45.82%	45.82%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$4.440K	$4.440K
YoY Change	-100.0%	-79.34%	-79.34%
Other Long-Term Liabilities	$33.15K	$130.7K	$130.7K
YoY Change	-91.82%	-73.27%	-73.27%
Total Long-Term Liabilities	$33.15K	$135.1K	$135.1K
YoY Change	-92.16%	-73.52%	-73.52%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.245M	$10.23M	$10.23M
Total Long-Term Liabilities	$33.15K	$135.1K	$135.1K
Total Liabilities	$2.278M	$10.36M	$10.36M
YoY Change	-67.83%	37.72%	37.72%
SHAREHOLDERS EQUITY
Retained Earnings	-$95.92M	-$92.94M
YoY Change	30.65%	33.91%
Common Stock	$502.00	$118.00
YoY Change	-55.61%	-89.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$3.216M	-$6.869M	-$6.869M
YoY Change
Total Liabilities & Shareholders Equity	$5.495M	$3.491M	$3.491M
YoY Change	-23.29%	-69.39%	-69.39%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	-$2.972M	-$6.935M	-$23.53M
YoY Change	-25.78%	50.59%	33.14%
Depreciation, Depletion And Amortization	$163.6K	$172.9K	$582.9K
YoY Change	62.58%	92.73%	47.94%
Cash From Operating Activities	-$8.746M	-$2.565M	-$15.03M
YoY Change	144.55%	-39.03%	-5.34%
INVESTING ACTIVITIES
Capital Expenditures	$81.51K	$184.1K	$224.1K
YoY Change	119.49%	28.72%	46.07%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$81.51K	-$184.1K	-$224.1K
YoY Change	119.49%	28.72%	46.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$6.971M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$9.889M	814.8K	$9.955M
YoY Change	-252377.63%	-1007.53%	103.2%
NET CHANGE
Cash From Operating Activities	-$8.746M	-2.565M	-$15.03M
Cash From Investing Activities	-$81.51K	-184.1K	-$224.1K
Cash From Financing Activities	$9.889M	814.8K	$9.955M
Net Change In Cash	$1.061M	-1.934M	-$5.304M
YoY Change	-129.34%	-56.44%	-52.37%
FREE CASH FLOW
Cash From Operating Activities	-$8.746M	-$2.565M	-$15.03M
Capital Expenditures	$81.51K	$184.1K	$224.1K
Free Cash Flow	-$8.828M	-$2.749M	-$15.26M
YoY Change	144.3%	-36.81%	-4.85%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023Q4	CING	Prepaid Professional Fees PrepaidProfessionalFees		usd
CY2023Q4	CING	Prepaid Dues And Subscriptions PrepaidDuesAndSubscriptions		usd
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CY2022Q4	us-gaap	Accrued Utilities Current AccruedUtilitiesCurrent		usd
CY2022Q4	us-gaap	Accrued Insurance Current AccruedInsuranceCurrent		usd
CY2022	CING	Income Tax Reconciliation Research And Development Tax Crediit Prior Period IncomeTaxReconciliationResearchAndDevelopmentTaxCrediitPriorPeriod		usd
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CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
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CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023Q4	CING	Deferred Tax Liabilities Accrual To Cash Current DeferredTaxLiabilitiesAccrualToCashCurrent		usd
CY2023Q4	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet		usd
CY2022Q4	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet		usd
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Entity Address Address Line2 EntityAddressAddressLine2	Place
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Kansas City
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	KS
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	66205
CY2023	dei	City Area Code CityAreaCode	(913)
CY2023	dei	Local Phone Number LocalPhoneNumber	942-2300
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2023	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Public Float EntityPublicFloat	7800000	usd
CY2024Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	5010471	shares
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CY2023	dei	Auditor Name AuditorName	KPMG LLP
CY2023	dei	Auditor Firm AuditorFirmId	185
CY2023	dei	Auditor Location AuditorLocation	Kansas City, Missouri
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CY2022Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	21487	usd
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CY2022	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	5000000	usd
CY2023	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	16047	usd
CY2022	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	15090	usd
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	9954779	usd
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	4898991	usd
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-5303860	usd
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-11136469	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	5356276	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	16492745	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	52416	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	5356276	usd
CY2023	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	186960	usd
CY2023	us-gaap	Interest Paid Net InterestPaidNet	19421	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	19000	usd
CY2021Q4	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	20400000	usd
CY2022Q3	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	5000000.0	usd
CY2023Q2	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	3000000.0	usd
CY2023Q4	us-gaap	Notes Payable NotesPayable	2100000	usd
CY2023Q3	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	3300000	usd
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_844_eus-gaap--UseOfEstimates_zj4M5vkXNSW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) <span id="xdx_86E_zVquPNcjP1c7">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during a reporting period. Actual results could differ from estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zlZSRkMVRlvd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) <span id="xdx_86F_ze9D0ChgjMOf">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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_90D_eus-gaap--TimeDepositsAtOrAboveFDICInsuranceLimit_iI_c20231231_zGt0cUxZ8uIb" 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4	us-gaap	Time Deposits At Or Above Fdic Insurance Limit TimeDepositsAtOrAboveFDICInsuranceLimit	250000	usd
CY2022Q4	CING	Prepaid Professional Fees PrepaidProfessionalFees	61524	usd
CY2022Q4	CING	Prepaid Dues And Subscriptions PrepaidDuesAndSubscriptions	37684	usd
CY2023Q4	us-gaap	Other Prepaid Expense Current OtherPrepaidExpenseCurrent	20698	usd
CY2022Q4	us-gaap	Other Prepaid Expense Current OtherPrepaidExpenseCurrent	20698	usd
CY2023Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	511556	usd
CY2022Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	2278944	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	5188949	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	4964853	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2642984	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2060066	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2545965	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2904787	usd
CY2023	us-gaap	Depreciation Depreciation	582918	usd
CY2022	us-gaap	Depreciation Depreciation	394011	usd
CY2023Q4	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	593022	usd
CY2022Q4	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	175625	usd
CY2023Q4	us-gaap	Interest Payable Current InterestPayableCurrent	290000	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	292339	usd
CY2023Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	213922	usd
CY2022Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	314446	usd
CY2023Q4	CING	Accrued Research And Development Costs Current AccruedResearchAndDevelopmentCostsCurrent	155220	usd
CY2023Q4	us-gaap	Accrued Utilities Current AccruedUtilitiesCurrent	155800	usd
CY2023Q4	us-gaap	Sales And Excise Tax Payable Current SalesAndExciseTaxPayableCurrent	120570	usd
CY2022Q4	us-gaap	Sales And Excise Tax Payable Current SalesAndExciseTaxPayableCurrent	56862	usd
CY2023Q4	us-gaap	Accrued Insurance Current AccruedInsuranceCurrent	56088	usd
CY2023Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	66897	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	55363	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1651519	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	894635	usd
CY2023	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<p id="xdx_80A_eus-gaap--LossContingencyDisclosures_zQwnn71LVsA3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(6) <span id="xdx_826_zLLXMxHSrNB9">Contingencies</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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 establishes reserves when those matters present 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, we accrue 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 accrued 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: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	3000000.0	usd
CY2023Q2	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	8000000.0	usd
CY2023	us-gaap	Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt	1862735	usd
CY2023	us-gaap	Interest Expense InterestExpense	790000	usd
CY2022	us-gaap	Interest Expense InterestExpense	292339	usd
CY2023	CING	Income Tax Reconciliation Research And Development Tax Crediit Prior Period IncomeTaxReconciliationResearchAndDevelopmentTaxCrediitPriorPeriod	-775982	usd
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	240000000	shares
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	240000000	shares
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	1167520	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	1167520	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	602640	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	602640	shares
CY2023Q4	us-gaap	Stockholders Equity Reverse Stock Split StockholdersEquityReverseStockSplit	one-for-twenty reverse stock split
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2023Q3	us-gaap	Debt Instrument Description DebtInstrumentDescription	The September 2023 Offering closed on September 13, 2023. The Pre-Funded Warrants are exercisable at any time after the date of issuance and have no expiration date. The holder of Pre-Funded Warrants may not exercise the warrants if the holder, together with its affiliates, would beneficially own more than 4.99% (or, at the election of the holder, 9.99%) of the number of shares of common stock outstanding immediately after giving effect to such exercise.
CY2023Q3	CING	Gross Proceeds GrossProceeds	3999480	usd
CY2023Q3	us-gaap	Payments For Fees PaymentsForFees	688929	usd
CY2023Q3	us-gaap	Debt Instrument Description DebtInstrumentDescription	The WFIA Pre-Funded Warrants have no expiration date and are exercisable immediately at an exercise price of $0.002 per share, to the extent that after giving effect to such exercise, WFIA and its affiliates would beneficially own, for purposes of Section 13(d) of the Exchange Act, no more than 19.99% of the outstanding shares of common stock of the Company.
CY2023Q3	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.002
CY2023	us-gaap	Class Of Warrant Or Right Reason For Issuing To Nonemployees ClassOfWarrantOrRightReasonForIssuingToNonemployees	warrants are exercisable from December 10, 2021 through December 10, 2026.
CY2023Q4	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	1388882	shares
CY2023Q4	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	38018839	usd
CY2023	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	9387851	usd
CY2023Q4	CING	Equity Fair Value Percentage EquityFairValuePercentage	1.000	pure
CY2023	CING	Amount Allocated AmountAllocated	3999479	usd
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.03749	pure
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.01889	pure
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y10M24D
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y11M23D
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.0120	pure
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.01126	pure
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2023	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-4936484	usd
CY2022	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-3712008	usd
CY2023	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-1299941	usd
CY2022	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-977496	usd
CY2023	CING	Income Tax Reconciliation Permanent Difference IncomeTaxReconciliationPermanentDifference	18239	usd
CY2022	CING	Income Tax Reconciliation Permanent Difference IncomeTaxReconciliationPermanentDifference	11935	usd
CY2023	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	7050437	usd
CY2022	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	4733324	usd
CY2022	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	2804	usd
CY2023	CING	Finance Lease Cost FinanceLeaseCost	12843	usd
CY2022	CING	Finance Lease Cost FinanceLeaseCost	13794	usd
CY2023	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-56269	usd
CY2022	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-55755	usd
CY2023Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	12631033	usd
CY2022Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	5580595	usd
CY2023Q4	CING	Deferred Tax Assets In Research And Development Costs Current DeferredTaxAssetsInResearchAndDevelopmentCostsCurrent	1257027	usd
CY2022Q4	CING	Deferred Tax Assets In Research And Development Costs Current DeferredTaxAssetsInResearchAndDevelopmentCostsCurrent	343087	usd
CY2023Q4	CING	Deferred Tax Assets Other Current DeferredTaxAssetsOtherCurrent	17870	usd
CY2022Q4	CING	Deferred Tax Assets Other Current DeferredTaxAssetsOtherCurrent	59018	usd
CY2023Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	6515232	usd
CY2022Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	3381215	usd
CY2023Q4	us-gaap	Deferred Tax Assets In Process Research And Development DeferredTaxAssetsInProcessResearchAndDevelopment	4051553	usd
CY2022Q4	us-gaap	Deferred Tax Assets In Process Research And Development DeferredTaxAssetsInProcessResearchAndDevelopment	1762716	usd
CY2023Q4	CING	Deferred Tax Assets Unvested Stock Options Non Current DeferredTaxAssetsUnvestedStockOptionsNonCurrent	447355	usd
CY2022Q4	CING	Deferred Tax Assets Unvested Stock Options Non Current DeferredTaxAssetsUnvestedStockOptionsNonCurrent	204380	usd
CY2023Q4	CING	Deferred Tax Assets In Research And Development Tax Credit DeferredTaxAssetsInResearchAndDevelopmentTaxCredit	756123	usd
CY2023Q4	us-gaap	Deferred Tax Assets Goodwill And Intangible Assets DeferredTaxAssetsGoodwillAndIntangibleAssets	110700	usd
CY2022Q4	us-gaap	Deferred Tax Assets Goodwill And Intangible Assets DeferredTaxAssetsGoodwillAndIntangibleAssets	92417	usd
CY2023Q4	CING	Deferred Tax Assets Rightofuse Assets DeferredTaxAssetsRightofuseAssets	38706	usd
CY2022Q4	CING	Deferred Tax Assets Rightofuse Assets DeferredTaxAssetsRightofuseAssets	63563	usd
CY2023Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	13194566	usd
CY2022Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	5906396	usd
CY2023Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	12631033	usd
CY2022Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	5580595	usd
CY2023Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	563533	usd
CY2022Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	325801	usd
CY2022Q4	CING	Deferred Tax Liabilities Accrual To Cash Current DeferredTaxLiabilitiesAccrualToCashCurrent	11228	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities Property Plant And Equipment DeferredTaxLiabilitiesPropertyPlantAndEquipment	563533	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities Property Plant And Equipment DeferredTaxLiabilitiesPropertyPlantAndEquipment	314573	usd
CY2023Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	563533	usd
CY2022Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	325801	usd
CY2023	us-gaap	Lessee Operating Lease Description LesseeOperatingLeaseDescription	In April 2020, the Company entered into a 60-month lease agreement for office furniture under a lease classified as a financing lease as title of the furniture transfers to the Company at the end of the lease term. Monthly lease payments are $1,491. The leased furniture is amortized on a straight-line basis over 7 years. The imputed interest rate relating to the lease obligation is 6.12% and the maturity date is March 2025.
CY2020Q2	us-gaap	Payments For Rent PaymentsForRent	1491	usd
CY2023	CING	Percentage Of Imputed Interest Rate Of Lease Obligation PercentageOfImputedInterestRateOfLeaseObligation	0.0612	pure
CY2023	us-gaap	Operating Lease Cost OperatingLeaseCost	338787	usd
CY2022	us-gaap	Operating Lease Cost OperatingLeaseCost	338787	usd
CY2023	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	10990	usd
CY2022	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	10990	usd
CY2023	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	1853	usd
CY2023	us-gaap	Lease Cost LeaseCost	351630	usd
CY2022	us-gaap	Lease Cost LeaseCost	352581	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	366877	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	630618	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	358085	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	339755	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	130663	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	488748	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	488748	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	828503	usd
CY2023Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization	76928	usd
CY2022Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization	76928	usd
CY2023Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization	44988	usd
CY2022Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization	44988	usd
CY2023Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	31940	usd
CY2022Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	31940	usd
CY2023Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	17057	usd
CY2022Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	16053	usd
CY2023Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	4436	usd
CY2022Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	21487	usd
CY2023Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	21493	usd
CY2022Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	37540	usd
CY2023	us-gaap	Operating Lease Payments OperatingLeasePayments	414800	usd
CY2022	us-gaap	Operating Lease Payments OperatingLeasePayments	406400	usd
CY2023	us-gaap	Finance Lease Interest Payment On Liability FinanceLeaseInterestPaymentOnLiability	16047	usd
CY2022	us-gaap	Finance Lease Interest Payment On Liability FinanceLeaseInterestPaymentOnLiability	15096	usd
CY2023	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	1853	usd
CY2022	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	2804	usd
CY2023	CING	Operating Leases Reductions To Right Of Use Assets Lease Obligations OperatingLeasesReductionsToRightOfUseAssetsLeaseObligations	263741	usd
CY2022	CING	Operating Leases Reductions To Right Of Use Assets Lease Obligations OperatingLeasesReductionsToRightOfUseAssetsLeaseObligations	227981	usd
CY2023	CING	Finance Leases Reductions To Right Of Use Assets Lease Obligations FinanceLeasesReductionsToRightOfUseAssetsLeaseObligations	10990	usd
CY2022	CING	Finance Leases Reductions To Right Of Use Assets Lease Obligations FinanceLeasesReductionsToRightOfUseAssetsLeaseObligations	10990	usd
CY2023Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P17M
CY2022Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P25M
CY2023Q4	us-gaap	Finance Lease Weighted Average Remaining Lease Term1 FinanceLeaseWeightedAverageRemainingLeaseTerm1	P12M
CY2022Q4	us-gaap	Finance Lease Weighted Average Remaining Lease Term1 FinanceLeaseWeightedAverageRemainingLeaseTerm1	P27M
CY2023Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.1176	pure
CY2022Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.1162	pure
CY2023Q4	us-gaap	Finance Lease Weighted Average Discount Rate Percent FinanceLeaseWeightedAverageDiscountRatePercent	0.0612	pure
CY2022Q4	us-gaap	Finance Lease Weighted Average Discount Rate Percent FinanceLeaseWeightedAverageDiscountRatePercent	0.0612	pure
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-23534947	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-17676232	usd
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	905225	shares
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	905225	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	602340	shares
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	602340	shares
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-26.00
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-26.00
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-29.35
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-29.35
CY2023	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	844004	shares
CY2022	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	293060	shares
CY2023	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	844004	shares
CY2022	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	293060	shares
CY2023	us-gaap	Interest Expense InterestExpense	790000	usd
CY2022	us-gaap	Interest Expense InterestExpense	292339	usd
CY2023Q4	us-gaap	Interest Payable Current InterestPayableCurrent	290000	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	292339	usd

Files In Submission

Name	View Source	Status
0001493152-24-012159-index-headers.html	Edgar Link	pending
0001493152-24-012159-index.html	Edgar Link	pending
0001493152-24-012159.txt	Edgar Link	pending
0001493152-24-012159-xbrl.zip	Edgar Link	pending
aud_001.jpg	Edgar Link	pending
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cing-20231231.xsd	Edgar Link	pending
ex21-1.htm	Edgar Link	pending
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ex97-1.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
cing-20231231_cal.xml	Edgar Link	unprocessable
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cing-20231231_lab.xml	Edgar Link	unprocessable
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report.css	Edgar Link	pending
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form10-k_htm.xml	Edgar Link	completed
cing-20231231_pre.xml	Edgar Link	unprocessable

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$CING
Cingulate Inc. Stock $cing

2024 Q1 Form 10-K Financial Statement

#000149315224012159 Filed on April 01, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CING Cingulate Inc. Stock $cing

2024 Q1 Form 10-K Financial Statement

#000149315224012159 Filed on April 01, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CING
Cingulate Inc. Stock $cing