$CKX
CKX LANDS, INC.

2023 Q3 Form 10-Q Financial Statement

#000143774923023257 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $259.0K $370.4K $310.2K
YoY Change -21.56% 19.39% 46.81%
Cost Of Revenue $7.890K $13.22K $17.57K
YoY Change -63.06% -24.76%
Gross Profit $251.1K $357.2K $292.6K
YoY Change -18.69% 22.05% 38.49%
Gross Profit Margin 96.95% 96.43% 94.33%
Selling, General & Admin $246.3K $254.0K $597.3K
YoY Change -40.11% -57.48% 302.71%
% of Gross Profit 98.06% 71.11% 204.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.065K $1.065K $683.00
YoY Change 49.79% 55.93% 35.79%
% of Gross Profit 0.42% 0.3% 0.23%
Operating Expenses $247.3K $255.1K $598.0K
YoY Change -39.95% -57.35% 301.81%
Operating Profit $3.813K $102.1K -$305.3K
YoY Change -103.92% -133.44% -231.14%
Interest Expense $43.76K $35.54K $3.850K
YoY Change 380.35% 823.12% -19.62%
% of Operating Profit 1147.65% 34.81%
Other Income/Expense, Net $70.00 $0.00 $260.00
YoY Change -100.0%
Pretax Income $47.64K $137.6K -$301.2K
YoY Change -153.98% -145.69% -226.77%
Income Tax $11.91K $34.41K -$24.53K
% Of Pretax Income 25.0% 25.0%
Net Earnings $35.73K $103.2K -$276.7K
YoY Change -169.11% -137.31% -258.7%
Net Earnings / Revenue 13.79% 27.87% -89.19%
Basic Earnings Per Share $0.02 $0.05 -$0.14
Diluted Earnings Per Share $0.02 $0.05 -$142.2K
COMMON SHARES
Basic Shares Outstanding 1.974M 1.974M 1.946M
Diluted Shares Outstanding 2.285M 2.285M 1.946M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.534M $8.386M $7.612M
YoY Change 8.19% 10.17% -0.27%
Cash & Equivalents $7.026M $8.386M $7.109M
Short-Term Investments $1.508M $0.00 $502.9K
Other Short-Term Assets $145.4K $120.6K $143.4K
YoY Change 6.19% -15.87% 51.39%
Inventory
Prepaid Expenses
Receivables $66.72K $83.04K $146.9K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.747M $8.590M $7.903M
YoY Change 7.68% 8.7% 1.66%
LONG-TERM ASSETS
Property, Plant & Equipment $9.097M $9.098M $9.084M
YoY Change 0.15% 0.15% -0.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $332.9K $344.9K
YoY Change
Total Long-Term Assets $9.430M $9.443M $9.084M
YoY Change 3.82% 3.95% -0.19%
TOTAL ASSETS
Total Short-Term Assets $8.747M $8.590M $7.903M
Total Long-Term Assets $9.430M $9.443M $9.084M
Total Assets $18.18M $18.03M $16.99M
YoY Change 5.64% 6.16% 0.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.24K $22.52K $75.74K
YoY Change -71.83% -70.27% -4.62%
Accrued Expenses
YoY Change
Deferred Revenue $94.83K $93.55K $106.1K
YoY Change -21.91% -11.87% -41.92%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $118.1K $116.1K $181.9K
YoY Change -42.1% -36.19% -39.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $118.1K $116.1K $181.9K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $118.1K $116.1K $369.6K
YoY Change -69.85% -68.59% -24.14%
SHAREHOLDERS EQUITY
Retained Earnings $15.13M $15.09M $16.27M
YoY Change -6.74% -7.25% -0.33%
Common Stock $59.34K $59.34K $59.34K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $131.3K
YoY Change
Treasury Stock Shares $10.17K
Shareholders Equity $18.06M $17.92M $16.62M
YoY Change
Total Liabilities & Shareholders Equity $18.18M $18.03M $16.99M
YoY Change 5.64% 6.16% 0.66%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $35.73K $103.2K -$276.7K
YoY Change -169.11% -137.31% -258.7%
Depreciation, Depletion And Amortization $1.065K $1.065K $683.00
YoY Change 49.79% 55.93% 35.79%
Cash From Operating Activities $148.2K $194.6K -$91.15K
YoY Change -53.0% -313.47% -204.82%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $3.380K -$24.79K
YoY Change -113.63%
Acquisitions
YoY Change
Other Investing Activities -$1.508M $1.005M -$500.00
YoY Change -44195.03% -201022.0% -100.24%
Cash From Investing Activities -$1.508M $1.001M -$25.30K
YoY Change -44194.74% -4057.43% -112.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 -131.3K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities 148.2K 194.6K -91.15K
Cash From Investing Activities -1.508M 1.001M -25.30K
Cash From Financing Activities 0.000 0.000 -131.3K
Net Change In Cash -1.360M 1.196M -247.8K
YoY Change -597.1% -582.59% -184.04%
FREE CASH FLOW
Cash From Operating Activities $148.2K $194.6K -$91.15K
Capital Expenditures $0.00 $3.380K -$24.79K
Free Cash Flow $148.2K $191.2K -$66.36K
YoY Change -53.0% -388.13% -176.31%

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Concentration of Credit Risk</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;">The Company maintains its cash balances in seven financial institutions. At times, cash balances may exceed the Federal Deposit Insurance Corporation’s insured limit of $250,000. The Company has not experienced any losses in such accounts and management believes the Company is not exposed to any significant credit risk on its cash balances.</p>
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