2024 Q1 Form 10-K Financial Statement

#000141057824000307 Filed on March 27, 2024

View on sec.gov

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 $4.624M $4.611M $10.75M
YoY Change 125.41% 134.23% 12.04%
% of Gross Profit
Research & Development $7.378M $7.936M $28.21M
YoY Change 10.88% 45.52% 46.78%
% of Gross Profit
Depreciation & Amortization $88.49K $72.38K $192.4K
YoY Change 107.93% 89.68% 29.99%
% of Gross Profit
Operating Expenses $7.378M $12.55M $38.96M
YoY Change 10.88% 69.05% 102.71%
Operating Profit -$12.00M -$38.96M
YoY Change 37.86% 35.22%
Interest Expense $319.8K $5.039M $917.2K
YoY Change 157.87% 3317.81% 501.33%
% of Operating Profit
Other Income/Expense, Net -$9.580M $917.1K
YoY Change -7823.81% 501.33%
Pretax Income -$21.58M -$7.509M -$38.04M
YoY Change 151.5% 3.21% 32.73%
Income Tax -$60.00K -$60.00K
% Of Pretax Income
Net Earnings -$21.58M -$7.449M -$37.98M
YoY Change 151.5% 3.24% 32.8%
Net Earnings / Revenue
Basic Earnings Per Share -$0.74 -$3.11
Diluted Earnings Per Share -$0.74 -$0.49 -$3.11
COMMON SHARES
Basic Shares Outstanding 32.26M 12.29M 12.22M
Diluted Shares Outstanding 29.35M 12.22M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.03M $9.565M $9.565M
YoY Change 215.64% -51.85% -51.85%
Cash & Equivalents $40.03M $9.565M $9.565M
Short-Term Investments
Other Short-Term Assets $1.337M $888.2K $888.2K
YoY Change 14.9% 33.92% 33.92%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $41.37M $10.45M $10.45M
YoY Change 198.77% -49.08% -49.08%
LONG-TERM ASSETS
Property, Plant & Equipment $1.023M $1.593M $1.593M
YoY Change 172.13% 280.42% 62.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.214K $29.78K $29.78K
YoY Change 0.0% 379.24% -63.33%
Total Long-Term Assets $1.540M $1.622M $1.622M
YoY Change 55.25% 53.03% 53.03%
TOTAL ASSETS
Total Short-Term Assets $41.37M $10.45M $10.45M
Total Long-Term Assets $1.540M $1.622M $1.622M
Total Assets $42.91M $12.08M $12.08M
YoY Change 189.17% -44.07% -44.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.394M $9.179M $6.872M
YoY Change 7.09% 258.82% 63.79%
Accrued Expenses $73.99K $58.98K $2.366M
YoY Change 44.77% 15.99% 77.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.27M $12.94M $12.94M
YoY Change 133.88% 133.98% 133.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $474.4K $494.0K $494.0K
YoY Change -13.49% -10.67% -10.67%
Total Long-Term Liabilities $474.4K $494.0K $494.0K
YoY Change -13.49% -10.67% -10.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.27M $12.94M $12.94M
Total Long-Term Liabilities $474.4K $494.0K $494.0K
Total Liabilities $16.74M $13.43M $13.43M
YoY Change 123.11% 120.83% 120.83%
SHAREHOLDERS EQUITY
Retained Earnings -$239.1M -$217.5M
YoY Change 21.16%
Common Stock $332.00 $207.00
YoY Change 242.27% 120.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.17M -$1.356M -$1.356M
YoY Change
Total Liabilities & Shareholders Equity $42.91M $12.08M $12.08M
YoY Change 189.17% -44.07% -44.07%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$21.58M -$7.449M -$37.98M
YoY Change 151.5% 3.24% 32.8%
Depreciation, Depletion And Amortization $88.49K $72.38K $192.4K
YoY Change 107.93% 89.68% 29.99%
Cash From Operating Activities -$13.36M -$9.597M -$32.38M
YoY Change 86.0% 29.48% 28.37%
INVESTING ACTIVITIES
Capital Expenditures $21.63K $264.0K $864.0K
YoY Change 124.05% 282.37%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$21.63K -$264.0K -$864.0K
YoY Change 124.05% 282.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $22.94M
YoY Change 138.69%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 43.85M 439.6K 22.94M
YoY Change 1461648800.0% -95.43% 138.69%
NET CHANGE
Cash From Operating Activities -13.36M -9.597M -32.38M
Cash From Investing Activities -21.63K -264.0K -864.0K
Cash From Financing Activities 43.85M 439.6K 22.94M
Net Change In Cash 30.47M -9.421M -10.30M
YoY Change -524.1% -552.72% -34.96%
FREE CASH FLOW
Cash From Operating Activities -$13.36M -$9.597M -$32.38M
Capital Expenditures $21.63K $264.0K $864.0K
Free Cash Flow -$13.38M -$9.861M -$33.24M
YoY Change 86.3% 30.96% 30.62%

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