$CRYM
Cryomass Technologies, Inc.

2023 Q2 Form 10-Q Financial Statement

#000121390023039860 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $550.0K $640.0K $1.754M
YoY Change -40.65% -63.5% 181.94%
% of Gross Profit
Research & Development $13.24K $123.00 $17.12K
YoY Change 869.82% -99.28%
% of Gross Profit
Depreciation & Amortization $13.08K $10.13K $21.83K
YoY Change -40.1% -53.6%
% of Gross Profit
Operating Expenses $6.275M $1.532M $2.128M
YoY Change 343.05% -28.02%
Operating Profit -$6.275M -$1.532M -$2.128M
YoY Change 343.05% -28.02%
Interest Expense $82.60K $53.66K -$24.51K
YoY Change -682.52% -318.94% -85.4%
% of Operating Profit
Other Income/Expense, Net -$87.09K -$66.97K -$24.52K
YoY Change 514.42% 173.18%
Pretax Income -$6.360M -$1.600M -$2.152M
YoY Change 344.63% -25.66% 84.98%
Income Tax
% Of Pretax Income
Net Earnings -$6.362M -$1.599M -$2.152M
YoY Change 344.75% -25.73% 105.58%
Net Earnings / Revenue
Basic Earnings Per Share -$0.03 -$0.01 -$0.01
Diluted Earnings Per Share -$0.03 -$0.01 -$10.86K
COMMON SHARES
Basic Shares Outstanding 205.3M shares 204.2M shares 198.3M shares
Diluted Shares Outstanding 205.2M shares 204.0M shares 198.3M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $316.3K $664.0K $3.594M
YoY Change -85.55% -81.53% 443.44%
Cash & Equivalents $316.3K $664.0K $3.594M
Short-Term Investments
Other Short-Term Assets $162.1K $114.6K $73.18K
YoY Change 142.58% 56.55% -98.96%
Inventory
Prepaid Expenses $140.4K $92.77K
Receivables
Other Receivables
Total Short-Term Assets $478.4K $778.5K $3.667M
YoY Change -78.78% -78.77% -55.34%
LONG-TERM ASSETS
Property, Plant & Equipment $749.2K $737.3K $233.6K
YoY Change 114.32% 215.57%
Goodwill $1.190M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $880.3K $5.807M $9.659M
YoY Change -90.99% -39.88%
TOTAL ASSETS
Total Short-Term Assets $478.4K $778.5K $3.667M
Total Long-Term Assets $880.3K $5.807M $9.659M
Total Assets $1.359M $6.586M $13.33M
YoY Change -88.7% -50.58% 62.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.591M $1.431M $1.365M
YoY Change 46.09% 4.86% -29.61%
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 $222.6K
YoY Change
Total Short-Term Liabilities $1.814M $1.431M $1.365M
YoY Change 66.53% 4.86% -70.92%
LONG-TERM LIABILITIES
Long-Term Debt $2.300M $2.000M $208.3K
YoY Change 859.88% 860.02% 150.01%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.300M $2.000M $208.3K
YoY Change 859.88% 860.02% 150.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.814M $1.431M $1.365M
Total Long-Term Liabilities $2.300M $2.000M $208.3K
Total Liabilities $4.113M $3.431M $1.573M
YoY Change 209.59% 118.1% -67.17%
SHAREHOLDERS EQUITY
Retained Earnings -$46.97M -$40.61M
YoY Change 46.0%
Common Stock $205.8K $204.8K
YoY Change 2.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.755M $3.155M $11.75M
YoY Change
Total Liabilities & Shareholders Equity $1.359M $6.586M $13.33M
YoY Change -88.7% -50.58% 62.3%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$6.362M -$1.599M -$2.152M
YoY Change 344.75% -25.73% 105.58%
Depreciation, Depletion And Amortization $13.08K $10.13K $21.83K
YoY Change -40.1% -53.6%
Cash From Operating Activities -$999.1K -$1.338M -$1.631M
YoY Change -25.28% -17.96% 249.9%
INVESTING ACTIVITIES
Capital Expenditures $35.50K $13.74K -$8.640K
YoY Change -126.24% -259.03%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$618.8K
YoY Change -100.0% 255.65%
Cash From Investing Activities -$35.50K -$13.74K -$627.5K
YoY Change -73.76% -97.81% 260.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 686.9K 80.21K
YoY Change 938.4% -91.75%
NET CHANGE
Cash From Operating Activities -999.1K -$1.338M -1.631M
Cash From Investing Activities -35.50K -$13.74K -627.5K
Cash From Financing Activities 686.9K 80.21K
Net Change In Cash -347.7K -$1.352M -2.179M
YoY Change -75.27% -37.94% -757.06%
FREE CASH FLOW
Cash From Operating Activities -$999.1K -$1.338M -$1.631M
Capital Expenditures $35.50K $13.74K -$8.640K
Free Cash Flow -$1.035M -$1.352M -$1.623M
YoY Change -13.92% -16.67% 248.05%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 crym Common Stock To Be Issued
CommonStockToBeIssued
usd
CY2023Q1 us-gaap Revenues
Revenues
usd
CY2022Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Cryomass Technologies, Inc.
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q1 us-gaap Gross Profit
GrossProfit
usd
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
000-56155
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-5051728
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1001 Bannock Street
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 612
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Denver
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CO
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
80204
CY2023Q1 dei City Area Code
CityAreaCode
303
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
416-7208
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
205329137 shares
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
663978 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2016057 usd
CY2023Q1 us-gaap Deferred Costs Current
DeferredCostsCurrent
21788 usd
CY2022Q4 us-gaap Deferred Costs Current
DeferredCostsCurrent
21788 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
92774 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
128651 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
778540 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
2166496 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
737302 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
525855 usd
CY2023Q1 us-gaap Goodwill
Goodwill
1190000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
1190000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3980582 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3879919 usd
CY2023Q1 us-gaap Assets
Assets
6585761 usd
CY2022Q4 us-gaap Assets
Assets
7862933 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1431221 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1288465 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1431221 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1288465 usd
CY2023Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
2000000 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
2000000 usd
CY2023Q1 us-gaap Liabilities
Liabilities
3431221 usd
CY2022Q4 us-gaap Liabilities
Liabilities
3288465 usd
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
204779137 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
204779137 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
202651205 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
202651205 shares
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
204780 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
202652 usd
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
43559814 usd
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
43163579 usd
CY2022Q4 crym Common Stock To Be Issued
CommonStockToBeIssued
219765 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-40610054 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-39011528 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
3154540 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
4574468 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6585761 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7862933 usd
CY2023Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
768266 usd
CY2022Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
335230 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
339895 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
295349 usd
CY2023Q1 us-gaap Legal Fees
LegalFees
298742 usd
CY2022Q1 us-gaap Legal Fees
LegalFees
1458257 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
124529 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
21832 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
123 usd
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17122 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
1531555 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
2127790 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1531555 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2127790 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
53661 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
36023 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-13310 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
11508 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-66971 usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-24515 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-1598526 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-2152305 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1598526 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2152305 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
204021504 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198268853 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
13524320 usd
CY2022Q1 crym Common Stock Issued For Current Period Services
CommonStockIssuedForCurrentPeriodServices
240625 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
140815 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2152305 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
11753455 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
4574468 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
65626 usd
CY2023Q1 crym Common Stock Issued For Vested Rs Us For Current Period Services
CommonStockIssuedForVestedRSUsForCurrentPeriodServices
50000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
62972 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1598526 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
3154540 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1598526 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2152305 usd
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
31250 usd
CY2023Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
124529 usd
CY2022Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
21832 usd
CY2022Q1 crym Fair Value Of Common Stock Issued Pursuant To Service And Advisory Agreements
FairValueOfCommonStockIssuedPursuantToServiceAndAdvisoryAgreements
160417 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
140815 usd
CY2023Q1 crym Common Stock Issued For Vested Rs Us For Current Period Service
CommonStockIssuedForVestedRSUsForCurrentPeriodService
50000 usd
CY2023Q1 crym Stockbased Compensation For Vested Rs Us For Current Period Services
StockbasedCompensationForVestedRSUsForCurrentPeriodServices
62972 usd
CY2023Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
65626 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-35877 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-684205 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-78821 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-517514 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1338343 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1631300 usd
CY2022Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
618831 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8641 usd
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
13736 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13736 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-627472 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
80208 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
80208 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1352079 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2178564 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2016057 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5772839 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
663978 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3594275 usd
CY2023Q1 crym Purchase Of Property And Equipment On Credit
PurchaseOfPropertyAndEquipmentOnCredit
-221577 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>1. Nature of the Business</b></p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cryomass Technologies Inc (“Cryomass Technologies” or the “Company”) designs, manufactures and is developing the strategy to commercialize patented cryo-mechanical systems for the harvesting and refinement of hemp, cannabis, and potentially other high value crops such as hops. The system exploits CryoMass’s U.S.-patented process for the controlled application of liquid nitrogen to stabilize and separate the structural elements of gross plant material. The device currently under development can be operated at a cultivation site or be installed at a processing facility and is being optimized for the collection of fully intact hemp and cannabis trichomes. The first functional “beta” machine has completed field testing. The Company recently signed a license and lease arrangement with a third party to deploy multiple CryoMass trichome separation units at the prospective partner’s facility in California and other locations, with the intention of starting commercial operations shortly.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s principal office is located at 1001 Bannock St., Suite 612, Denver, CO 80204, and its telephone number is 303-416-7208. The Company’s website is www.cryomass.com. Information appearing on the website is not incorporated by reference into this prospectus.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cryomass Technologies Inc serves as the parent company to its wholly-owned subsidiaries which include Cryomass LLC, Cryomass California LLC, and 1304740 B.C. Unlimited Liability Company.</p><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">  </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 22, 2021, the Company entered into an Asset Purchase Agreement with Cryocann USA Corp, a California corporation (“Cryocann”), pursuant to which Company acquired substantially all the assets of Cryocann. The aggregate purchase price was $3,500,000 million in cash and 10,000,000 shares of Company common stock As part of the Cryocann Acquisition, we retained both Cryocann employees, who have expert knowledge of the industry, related participants, customers and the acquired patented technology. Under their employment agreements, each employee may receive compensation if specific performance targets are met in association with our future operating performance when the Cryocann technology enters the market. The technology and assets acquired from Cryocann are operated from the Company’s subsidiary, Cryomass LLC. The patented cryo-mechanical technology is for the separation of plant materials in the harvesting of hemp and cannabis, and potentially other high value crops such as hops.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2021, we were granted an additional patent for our process from the Chinese Intellectual Property Office. We currently are taking steps to gain further protection for our intellectual property through the European Union Intellectual Property Office and several other international jurisdictions.</p>
CY2021Q2 crym Aggregate Purchase Amount
AggregatePurchaseAmount
3500000000000 usd
CY2021Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
10000000 shares
CY2023Q1 crym Working Capital
WorkingCapital
-652681 usd
CY2023Q1 us-gaap Cash
Cash
663978 usd
CY2023Q1 us-gaap Retail Land Sales Estimated Cost Of Major Improvements
RetailLandSalesEstimatedCostOfMajorImprovements
4000000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6600000 usd
CY2023Q1 crym Cash For Operating Activities
CashForOperatingActivities
1338343 usd
CY2023Q1 us-gaap Malpractice Loss Contingency Claims Incurred Net
MalpracticeLossContingencyClaimsIncurredNet
1598526 usd
CY2023Q1 crym Accumulated Deficits
AccumulatedDeficits
40610054 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to determining the fair value of the assets acquired and liabilities assumed in acquisition, determining the useful lives and potential impairment of long-lived assets and potential impairment of goodwill. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentrations of Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts. Aside from this, the Company does not believe it is exposed to any unusual credit risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 crym Income Taxes Description
IncomeTaxesDescription
In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, our policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the consolidated financial statements.
CY2023Q1 crym Unvested Of Shares Restricted Stock Potentially Dilutive Securities Outstanding
UnvestedOfSharesRestrictedStockPotentiallyDilutiveSecuritiesOutstanding
2336588 shares
CY2022Q1 crym Unvested Of Shares Restricted Stock Potentially Dilutive Securities Outstanding
UnvestedOfSharesRestrictedStockPotentiallyDilutiveSecuritiesOutstanding
1933985 shares
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
737302 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
525855 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15531 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5400 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
737302 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
525855 usd
CY2023Q1 us-gaap Depreciation
Depreciation
10130 usd
CY2022Q1 us-gaap Depreciation
Depreciation
0 usd
CY2023Q1 crym Carrying Value Of Goodwill
CarryingValueOfGoodwill
1190000 usd
CY2022 crym Carrying Value Of Goodwill
CarryingValueOfGoodwill
1190000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4194982 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
315063 usd
CY2023Q1 crym Amortized Intangible Assets Impairment
AmortizedIntangibleAssetsImpairment
3879919 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4181246 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
200664 usd
CY2022Q4 crym Amortized Intangible Assets Impairment
AmortizedIntangibleAssetsImpairment
3980582 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
114399 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21832 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
343197 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
457596 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
457596 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
457596 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
457596 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
1706338 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
3879919 usd
CY2021Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
6600000 usd
CY2021 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
3600000 usd
CY2022Q1 us-gaap Other Loans Payable Long Term
OtherLoansPayableLongTerm
618831 usd
CY2022Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
2000000 usd
CY2022Q3 crym Beneficial Percentage
BeneficialPercentage
0.231 pure
CY2022Q3 crym Note Interest
NoteInterest
0.12 pure
CY2022Q3 us-gaap Investment Maturity Date
InvestmentMaturityDate
2024-10-01
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
130000 usd
CY2022Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
the Company issued 458,334 shares of common stock at $0.35 per share for a total dollar value of $160,417 in exchange for services, 550,000 shares of common stock at $0.2695 per share for a total dollar value of $148,225 for 2021 management performance bonuses, 185,529 shares of common stock at $0.2695 per share for a total dollar value of $50,000 for director compensation, and 1,000,000 shares of common stock at $0.65 for a total dollar value of $130,000 for 2020 RSU grants vesting in January 2022.
CY2023Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
the Company issued 62,500 shares of common stock at $0.35 per share for a total dollar value of $21,875 for prior period services, 187,500 shares of common stock at $0.35 per share for a total dollar value of $65,625 for current period services, 1,100,000 shares of common stock at $0.1799 per share for a total dollar value of $197,890 for vested RSUs for prior period services, and 777,932 shares of common stock at $0.1799 per share for a total dollar value of $139,950 for vested RSUs for current period services.
CY2023Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.12 pure
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q1 crym Fair Value Of Rs Us Vested
FairValueOfRSUsVested
424640 usd
CY2022Q1 crym Fair Value Of Rs Us Vested
FairValueOfRSUsVested
848600 usd
CY2023Q1 crym Unrecognized Stock Based Compensation
UnrecognizedStockBasedCompensation
303663 usd
CY2022Q1 crym Unrecognized Stock Based Compensation
UnrecognizedStockBasedCompensation
187761 usd
CY2022Q3 crym Common Stock Shares
CommonStockShares
3 shares
CY2021Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
73950000 shares
CY2021 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
0.4
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023Q1 crym Common Stock Issued For Prior Period Services
CommonStockIssuedForPriorPeriodServices
usd
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
CY2023Q1 crym Fair Value Of Common Stock Issued Pursuant To Service And Advisory Agreements
FairValueOfCommonStockIssuedPursuantToServiceAndAdvisoryAgreements
usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2022Q1 crym Common Stock Issued For Vested Rs Us For Current Period Service
CommonStockIssuedForVestedRSUsForCurrentPeriodService
usd
CY2022Q1 crym Stockbased Compensation For Vested Rs Us For Current Period Services
StockbasedCompensationForVestedRSUsForCurrentPeriodServices
usd
CY2023Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
usd
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
CY2023Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2022Q1 crym Purchase Of Property And Equipment On Credit
PurchaseOfPropertyAndEquipmentOnCredit
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001533030

Files In Submission

Name View Source Status
crym-20230331_cal.xml Edgar Link unprocessable
crym-20230331_lab.xml Edgar Link unprocessable
crym-20230331_pre.xml Edgar Link unprocessable
0001213900-23-039860-index-headers.html Edgar Link pending
0001213900-23-039860-index.html Edgar Link pending
0001213900-23-039860.txt Edgar Link pending
0001213900-23-039860-xbrl.zip Edgar Link pending
crym-20230331.xsd Edgar Link pending
f10q0323ex31-1_cryomasstech.htm Edgar Link pending
f10q0323ex31-2_cryomasstech.htm Edgar Link pending
f10q0323ex32-1_cryomasstech.htm Edgar Link pending
f10q0323ex32-2_cryomasstech.htm Edgar Link pending
f10q0323_cryomasstech.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
crym-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
f10q0323_cryomasstech_htm.xml Edgar Link completed
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending