2024 Q2 Form 10-Q Financial Statement
#000147793224003000 Filed on May 15, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
Revenue | $1.863M | $432.8K | $50.73K |
YoY Change | -55.19% | 753.07% | -25.84% |
Cost Of Revenue | $2.581M | $381.2K | $45.86K |
YoY Change | -16.29% | 731.29% | -33.64% |
Gross Profit | -$717.9K | $51.58K | $4.875K |
YoY Change | -166.79% | 957.99% | -796.43% |
Gross Profit Margin | -38.53% | 11.92% | 9.61% |
Selling, General & Admin | $1.364M | $2.562M | |
YoY Change | -3.29% | ||
% of Gross Profit | 4967.33% | ||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $92.17K | $92.18K | |
YoY Change | 449.94% | ||
% of Gross Profit | 178.72% | ||
Operating Expenses | $1.755M | $3.033M | $1.208M |
YoY Change | 20.18% | 151.04% | 104.24% |
Operating Profit | -$2.473M | -$2.981M | -$1.203M |
YoY Change | 541.41% | 147.77% | 103.18% |
Interest Expense | $173.3K | $237.7K | $97.35K |
YoY Change | 10.44% | 144.16% | -148.86% |
% of Operating Profit | |||
Other Income/Expense, Net | -$19.75M | -$1.495M | -$2.207M |
YoY Change | 1568.61% | -32.26% | 1007.83% |
Pretax Income | -$22.23M | -$4.476M | |
YoY Change | 1316.24% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$22.23M | -$4.476M | -$3.410M |
YoY Change | 1316.25% | 31.26% | 250.33% |
Net Earnings / Revenue | -1192.85% | -1034.3% | -6722.03% |
Basic Earnings Per Share | -$0.50 | -$0.12 | -$0.10 |
Diluted Earnings Per Share | -$0.50 | -$0.12 | |
COMMON SHARES | |||
Basic Shares Outstanding | 40.12M shares | 40.12M shares | 35.33M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $255.3K | $101.7K | |
YoY Change | -76.96% | ||
Cash & Equivalents | $255.3K | $101.7K | $741.4K |
Short-Term Investments | |||
Other Short-Term Assets | $1.167M | $1.062M | |
YoY Change | 75.68% | ||
Inventory | |||
Prepaid Expenses | |||
Receivables | $191.1K | $184.7K | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $2.053M | $1.430M | $1.649M |
YoY Change | -4.85% | -13.27% | 46.76% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $216.1K | $194.8K | $3.604K |
YoY Change | 120.1% | 5306.3% | |
Goodwill | $762.9K | $762.9K | $762.9K |
YoY Change | 0.0% | 0.0% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $1.559M | $1.618M | $1.055M |
YoY Change | -11.81% | 53.34% | -8.18% |
TOTAL ASSETS | |||
Total Short-Term Assets | $2.053M | $1.430M | $1.649M |
Total Long-Term Assets | $1.559M | $1.618M | $1.055M |
Total Assets | $3.612M | $3.048M | $2.704M |
YoY Change | -7.99% | 12.72% | 18.98% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.058M | $734.4K | $1.050M |
YoY Change | 200.05% | -30.05% | 41.05% |
Accrued Expenses | $909.7K | $1.128M | $963.6K |
YoY Change | -30.77% | 17.11% | 815.43% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $1.475M | $1.504M | |
YoY Change | -0.79% | ||
Long-Term Debt Due | $189.9K | $579.3K | |
YoY Change | |||
Total Short-Term Liabilities | $6.283M | $6.430M | $8.557M |
YoY Change | 50.53% | -24.86% | 405.3% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $2.436M | $31.25K |
YoY Change | -100.0% | 7696.13% | 53.19% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $2.436M | $31.25K |
YoY Change | -100.0% | 7696.13% | 53.19% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $6.283M | $6.430M | $8.557M |
Total Long-Term Liabilities | $0.00 | $2.436M | $31.25K |
Total Liabilities | $6.283M | $8.866M | $8.588M |
YoY Change | 32.84% | 3.23% | 401.11% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$47.76M | -$25.53M | -$11.68M |
YoY Change | 260.5% | 118.63% | |
Common Stock | $5.786K | $4.014K | $3.535K |
YoY Change | 60.06% | 13.55% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$2.670M | -$5.818M | -$5.885M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.612M | $3.048M | $2.704M |
YoY Change | -7.99% | 12.72% | 18.98% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$22.23M | -$4.476M | -$3.410M |
YoY Change | 1316.25% | 31.26% | 250.33% |
Depreciation, Depletion And Amortization | $92.17K | $92.18K | |
YoY Change | 449.94% | ||
Cash From Operating Activities | -$1.401M | -$1.276M | -$1.089M |
YoY Change | -209.0% | 17.15% | 48.87% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $33.50K | $34.70K | $0.00 |
YoY Change | -92.29% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$33.50K | -$34.70K | $0.00 |
YoY Change | -92.29% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.588M | $0.00 | $1.734M |
YoY Change | 2376.06% | -100.0% | 15.62% |
NET CHANGE | |||
Cash From Operating Activities | -1.401M | -$1.276M | -$1.089M |
Cash From Investing Activities | -33.50K | -$34.70K | $0.00 |
Cash From Financing Activities | 1.588M | $0.00 | $1.734M |
Net Change In Cash | 153.6K | -$1.311M | $645.1K |
YoY Change | -83.22% | -303.18% | -16.04% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.401M | -$1.276M | -$1.089M |
Capital Expenditures | $33.50K | $34.70K | $0.00 |
Free Cash Flow | -$1.435M | -$1.311M | -$1.089M |
YoY Change | -268.55% | 20.33% |
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Stockholders Equity
StockholdersEquity
|
-5884505 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3179653 | usd |
CY2024Q1 | cipi |
Issuance Of Shares For The Payment Of Accrued Interest Amount
IssuanceOfSharesForThePaymentOfAccruedInterestAmount
|
38382 | usd |
CY2024Q1 | cipi |
Issuance Of Shares For The Cashless Exercise Of Warrants Amount
IssuanceOfSharesForTheCashlessExerciseOfWarrantsAmount
|
0 | usd |
CY2024Q1 | cipi |
Issuance Warrants Connectionwith Debt
IssuanceWarrantsConnectionwithDebt
|
353272 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1446056 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4476442 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5818385 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-4476442 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-3410353 | usd |
CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
92181 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
25508 | usd |
CY2024Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
1257345 | usd |
CY2023Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
788282 | usd |
CY2024Q1 | cipi |
Stock Issued For Services
StockIssuedForServices
|
0 | usd |
CY2023Q1 | cipi |
Stock Issued For Services
StockIssuedForServices
|
-15000 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1446056 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
253851 | usd |
CY2024Q1 | cipi |
Financing Costs Discount Amount
FinancingCostsDiscountAmount
|
0 | usd |
CY2023Q1 | cipi |
Financing Costs Discount Amount
FinancingCostsDiscountAmount
|
-3808565 | usd |
CY2024Q1 | cipi |
Changes In Fair Value Of Derivative Liability
ChangesInFairValueOfDerivativeLiability
|
0 | usd |
CY2023Q1 | cipi |
Changes In Fair Value Of Derivative Liability
ChangesInFairValueOfDerivativeLiability
|
2487120 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-224107 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
0 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
27956 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
-341536 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
51426 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
168830 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
480025 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-19871 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
30711 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-235801 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
|
-250616 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
|
0 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1276015 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1089233 | usd |
CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
34699 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-34699 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd |
CY2024Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | usd |
CY2023Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
1804950 | usd |
CY2024Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | usd |
CY2023Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
70620 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1734330 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1310714 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
645097 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1412379 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
96308 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
101665 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
741405 | usd |
CY2024Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | usd |
CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | usd |
CY2024Q1 | us-gaap |
Interest Paid
InterestPaid
|
177831 | usd |
CY2023Q1 | us-gaap |
Interest Paid
InterestPaid
|
70274 | usd |
CY2024Q1 | cipi |
Shares Issued For Settlement Of Accrued Interest
SharesIssuedForSettlementOfAccruedInterest
|
38382 | usd |
CY2023Q1 | cipi |
Shares Issued For Settlement Of Accrued Interest
SharesIssuedForSettlementOfAccruedInterest
|
7589 | usd |
CY2024Q1 | cipi |
Discount On Note Payable From Issuance Of Warrants
DiscountOnNotePayableFromIssuanceOfWarrants
|
353272 | usd |
CY2023Q1 | cipi |
Discount On Note Payable From Issuance Of Warrants
DiscountOnNotePayableFromIssuanceOfWarrants
|
0 | usd |
CY2024Q1 | cipi |
Discount On Notes Payable From Derivative Liability
DiscountOnNotesPayableFromDerivativeLiability
|
0 | usd |
CY2023Q1 | cipi |
Discount On Notes Payable From Derivative Liability
DiscountOnNotesPayableFromDerivativeLiability
|
1563929 | usd |
CY2024Q1 | cipi |
Discount On Convertible Notes Payable From Derivative Liability
DiscountOnConvertibleNotesPayableFromDerivativeLiability
|
0 | usd |
CY2023Q1 | cipi |
Discount On Convertible Notes Payable From Derivative Liability
DiscountOnConvertibleNotesPayableFromDerivativeLiability
|
1804950 | usd |
CY2024Q1 | cipi |
Accrued Interest Settled Through Note Payable
AccruedInterestSettledThroughNotePayable
|
0 | usd |
CY2023Q1 | cipi |
Accrued Interest Settled Through Note Payable
AccruedInterestSettledThroughNotePayable
|
78929 | usd |
CY2024Q1 | us-gaap |
Litigation Settlement Interest
LitigationSettlementInterest
|
0 | usd |
CY2023Q1 | us-gaap |
Litigation Settlement Interest
LitigationSettlementInterest
|
50582 | usd |
CY2024Q1 | us-gaap |
Notes Issued1
NotesIssued1
|
0 | usd |
CY2023Q1 | us-gaap |
Notes Issued1
NotesIssued1
|
877897 | usd |
CY2024Q1 | us-gaap |
Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
|
32611 | usd |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
6392176 | shares |
CY2024Q1 | cipi |
Options To Purchase Shares
OptionsToPurchaseShares
|
3131892 | shares |
CY2024Q1 | cipi |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Total Expenses
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedTotalExpenses
|
2230147 | usd |
CY2024Q1 | cipi |
Director Compensation Value
DirectorCompensationValue
|
474000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1003183 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
343090 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
660093 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1003183 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
263119 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
740064 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
239913 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
286852 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
133328 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
660093 | usd |