2022 Q4 Form 10-Q Financial Statement

#000149315222032030 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $103.8K $252.7K $109.3K
YoY Change -51.55% 131.33% 1265.63%
Cost Of Revenue $103.0K $94.53K
YoY Change -62.37%
Gross Profit $750.00 $158.2K $109.3K
YoY Change -101.26% 44.8%
Gross Profit Margin 0.72% 62.6% 100.0%
Selling, General & Admin $588.6K $487.2K $519.4K
YoY Change -15.68% -6.19% 121.77%
% of Gross Profit 78482.67% 307.97% 475.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.74K $32.71K $0.00
YoY Change 117.18%
% of Gross Profit 2898.67% 20.67% 0.0%
Operating Expenses $610.4K $530.8K $519.4K
YoY Change -13.8% 2.19% 121.77%
Operating Profit -$609.6K -$372.6K -$410.1K
YoY Change -20.59% -9.16%
Interest Expense -$85.57K $47.29K -$4.210K
YoY Change 1932.54% -1223.18% 35.81%
% of Operating Profit
Other Income/Expense, Net -$142.7K $4.100K $135.8K
YoY Change -165.32% -96.98% -47.16%
Pretax Income -$837.9K -$415.7K -$278.5K
YoY Change 51.41% 49.29% -1101.37%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$837.9K -$415.7K -$278.5K
YoY Change 51.41% 49.29% -1101.37%
Net Earnings / Revenue -807.46% -164.5% -254.9%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.04 -$17.80K -$12.60K
COMMON SHARES
Basic Shares Outstanding 24.55M shares 23.15M shares 22.10M shares
Diluted Shares Outstanding 23.36M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.6K $86.06K $164.9K
YoY Change 46.12% -47.8% 44.18%
Cash & Equivalents $110.6K $86.06K $164.9K
Short-Term Investments
Other Short-Term Assets $81.32K $1.077M $123.1K
YoY Change -5.64% 774.51%
Inventory
Prepaid Expenses $81.32K $119.4K
Receivables $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $191.9K $1.163M $288.0K
YoY Change 18.56% 303.73% 151.86%
LONG-TERM ASSETS
Property, Plant & Equipment $50.00K
YoY Change
Goodwill $740.5K $740.5K
YoY Change 0.0%
Intangibles $574.2K
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.00K
YoY Change
Total Long-Term Assets $1.365M $1.325M $1.327M
YoY Change 0.49% -0.11%
TOTAL ASSETS
Total Short-Term Assets $191.9K $1.163M $288.0K
Total Long-Term Assets $1.365M $1.325M $1.327M
Total Assets $1.557M $2.488M $1.615M
YoY Change 2.42% 54.07% 1312.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.266M $2.132M $1.775M
YoY Change 17.16% 20.09% -4.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $2.211M $2.577M $450.0K
YoY Change 397.49% 472.66%
Total Short-Term Liabilities $4.477M $4.709M $2.225M
YoY Change 88.24% 111.61% 3.23%
LONG-TERM LIABILITIES
Long-Term Debt $139.1K $139.1K $157.4K
YoY Change -11.61% -11.61% -18.29%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $139.1K $139.1K $157.4K
YoY Change -11.61% -11.61% -18.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.477M $4.709M $2.225M
Total Long-Term Liabilities $139.1K $139.1K $157.4K
Total Liabilities $4.616M $4.848M $2.383M
YoY Change 82.04% 103.47% 1.47%
SHAREHOLDERS EQUITY
Retained Earnings -$39.53M -$38.69M
YoY Change 16.72%
Common Stock $36.47M $36.33M
YoY Change 11.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.059M -$2.360M -$767.6K
YoY Change
Total Liabilities & Shareholders Equity $1.557M $2.488M $1.615M
YoY Change 2.42% 54.07% 1312.4%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$837.9K -$415.7K -$278.5K
YoY Change 51.41% 49.29% -1101.37%
Depreciation, Depletion And Amortization $21.74K $32.71K $0.00
YoY Change 117.18%
Cash From Operating Activities -$854.7K -$178.1K -$377.5K
YoY Change 32.11% -52.81% 113.13%
INVESTING ACTIVITIES
Capital Expenditures -$983.5K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $983.5K $0.00 $0.00
YoY Change 74.59% -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 -104.2K 245.0K 0.000
YoY Change 1795.09% -100.0%
NET CHANGE
Cash From Operating Activities -854.7K -178.1K -377.5K
Cash From Investing Activities 983.5K 0.000 0.000
Cash From Financing Activities -104.2K 245.0K 0.000
Net Change In Cash 24.55K 66.85K -377.5K
YoY Change -127.53% -117.71% -475.84%
FREE CASH FLOW
Cash From Operating Activities -$854.7K -$178.1K -$377.5K
Capital Expenditures -$983.5K $0.00
Free Cash Flow $128.8K -$178.1K
YoY Change

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150000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
26240 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
825000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2119447 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
993265 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10362 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
138538 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
75699 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
26326 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
86061 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
164864 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
21000 usd
CY2022Q3 us-gaap Cash
Cash
86061 usd
us-gaap Net Income Loss
NetIncomeLoss
-4825015 usd
CRCW Working Capital
WorkingCapital
3546037 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-38693533 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zdO3hKm6wyBd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Use of estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, and expenses and the related disclosure of contingent assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company’s significant estimates and assumptions include but are not limited to the valuation allowances of deferred taxes, and share-based compensation expenses. Actual results may differ from these estimates. In addition, any change in these estimates or their related assumptions could have an adverse effect on the Company’s operating results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
1349457 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
740469 usd
CY2022Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
650000 usd
us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Intangibles
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentIntangibles
54166 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32499 usd
CY2022Q3 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
125000 usd
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2281429 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2281429 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.26
CRCW Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Beginning Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingBeginningWeightedAverageRemainingContractualTerm2
P4Y3M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5155003 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2281429 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.26
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y6M
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5155003 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2281429 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.26
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y6M
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5155003 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1339325 shares
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0 usd
us-gaap Payments For Rent
PaymentsForRent
0 usd
us-gaap Payments For Rent
PaymentsForRent
0 usd

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0001493152-22-032030-index-headers.html Edgar Link pending
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0001493152-22-032030.txt Edgar Link pending
0001493152-22-032030-xbrl.zip Edgar Link pending
crcw-20220930.xsd Edgar Link pending
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