$CNXX
CONX Corp.

2022 Q1 Form 10-Q Financial Statement

#000110465922057794 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $211.3K $166.0K $70.00K
YoY Change 201.8% 10.63%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $211.3K $166.0K $70.00K
YoY Change 201.8% 10.63%
Operating Profit -$211.3K -$66.57K
YoY Change 217.34%
Interest Expense $12.95M $8.743M $8.740M
YoY Change 48.22% 110.17%
% of Operating Profit
Other Income/Expense, Net $12.95M $8.743M
YoY Change 48.17%
Pretax Income $12.74M $8.577M $8.676M
YoY Change 46.88% 302.67%
Income Tax $15.10K $4.560K $4.560K
% Of Pretax Income 0.12% 0.05% 0.05%
Net Earnings $12.73M $8.572M $8.672M
YoY Change 46.78% 302.46%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $135.7K $91.36K $92.48K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $549.0K $750.4K $1.000M
YoY Change -45.1% -37.47%
Cash & Equivalents $549.0K $750.4K $1.028M
Short-Term Investments
Other Short-Term Assets $113.3K $70.00K $100.0K
YoY Change 13.25%
Inventory
Prepaid Expenses $113.3K $70.00K
Receivables
Other Receivables
Total Short-Term Assets $665.8K $823.9K $1.100M
YoY Change -39.48% -33.43%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $750.1M $750.1M $750.0M
YoY Change 0.01%
Other Assets $750.0M
YoY Change
Total Long-Term Assets $750.1M $750.1M $750.0M
YoY Change 0.01% 0.01%
TOTAL ASSETS
Total Short-Term Assets $665.8K $823.9K $1.100M
Total Long-Term Assets $750.1M $750.1M $750.0M
Total Assets $750.8M $750.9M $751.1M
YoY Change -0.04% -0.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.800K $0.00 $0.00
YoY Change -100.0%
Accrued Expenses $343.9K $286.0K $0.00
YoY Change 1044.04%
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 $367.0K $298.8K $100.0K
YoY Change 267.0% 115.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $39.46M $52.40M $300.0K
YoY Change 13053.61% 17365.56%
Total Long-Term Liabilities $39.46M $52.40M $300.0K
YoY Change 13053.61% 17365.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $367.0K $298.8K $100.0K
Total Long-Term Liabilities $39.46M $52.40M $300.0K
Total Liabilities $39.83M $52.70M $63.60M
YoY Change -37.38% -27.21%
SHAREHOLDERS EQUITY
Retained Earnings -$39.07M -$51.79M
YoY Change -27.2%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$39.06M -$51.79M -$62.48M
YoY Change
Total Liabilities & Shareholders Equity $750.8M $750.9M $751.1M
YoY Change -0.04% -0.05%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $12.73M $8.572M $8.672M
YoY Change 46.78% 302.46%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$201.4K -$115.9K -$184.3K
YoY Change 9.24% -3.38%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00
YoY Change -100.0%
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
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -201.4K -115.9K -184.3K
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000
Net Change In Cash -201.4K -115.9K -184.3K
YoY Change 9.24% -111.71%
FREE CASH FLOW
Cash From Operating Activities -$201.4K -$115.9K -$184.3K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2022Q1 conxu Obligation To Redeem Percentage Of Common Stock With Respect To Any Other Material Provision Relating To Stockholders Rights Or Pre Initial Business Combination Activity
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Corporation coverage limit of $250,000. As of March 31, 2022 and December 31, 2021, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Derivative Financial Instruments</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815, “Derivatives and Hedging”. The Company’s derivative instruments are recorded at fair value as of the IPO (November 3, 2020) and re-valued at each reporting date, with changes in the fair value reported in the Statements of Operations. Derivative assets and liabilities are classified on the Balance Sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the Balance Sheet date. The Company has determined the Warrants are a derivative instrument. As the Warrants meet the definition of a derivative the Warrants are measured at fair value at issuance and at each reporting date in accordance with ASC 820, “Fair Value Measurements and Disclosures,” with changes in fair value recognized in the Statement of Operations in the period of change.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities during the reporting period. The determination of the fair value of the warrant liabilities is a significant accounting estimate included in these unaudited condensed financial statements. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.</p>
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CY2022Q1 conxu Percent Of Difference Between Total Return And Price Threshold Multiplied By Sum Of Any Stock Splits Stock Capitalizations Stock Combinations Stock Dividends Reorganizations Recapitalizations
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Files In Submission

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