$CTOR
CITIUS ONCOLOGY, INC.

2023 Q3 Form 10-Q Financial Statement

#000149315223029131 Filed on August 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $421.5K $199.6K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $421.5K $199.6K
YoY Change
Operating Profit -$421.5K -$199.6K
YoY Change
Interest Expense $579.4K $815.9K
YoY Change
% of Operating Profit
Other Income/Expense, Net $579.4K $815.9K
YoY Change
Pretax Income $157.9K $616.3K
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $157.9K $616.3K
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share $0.02 $0.07 $0.00
Diluted Earnings Per Share $0.02 $0.07 $0.00
COMMON SHARES
Basic Shares Outstanding 8.941M shares 8.941M shares 1.500M shares
Diluted Shares Outstanding 6.600M shares 6.600M shares 1.500M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.52K $370.1K
YoY Change
Cash & Equivalents $26.52K $370.1K
Short-Term Investments
Other Short-Term Assets $58.63K $91.81K
YoY Change
Inventory
Prepaid Expenses $58.63K $91.81K
Receivables
Other Receivables
Total Short-Term Assets $85.16K $461.9K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $70.63M $69.39M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $70.63M $69.39M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $85.16K $461.9K
Total Long-Term Assets $70.63M $69.39M
Total Assets $70.71M $69.85M
YoY Change 27442.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.289M
YoY Change
Accrued Expenses $383.7K $108.9K
YoY Change 420.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.169M $463.9K
YoY Change 337.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.169M $463.9K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.169M $463.9K
YoY Change 337.9%
SHAREHOLDERS EQUITY
Retained Earnings -$1.084M -$2.210K
YoY Change 10614.82%
Common Stock $167.00 $242.00
YoY Change -3.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.083M -$1.968K -$10.11K
YoY Change
Total Liabilities & Shareholders Equity $70.71M $69.85M
YoY Change 27442.14%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $157.9K $616.3K
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$112.5K -$100.3K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$660.0K
YoY Change
Cash From Investing Activities -$660.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 429.9K 350.0K
YoY Change
NET CHANGE
Cash From Operating Activities -112.5K -100.3K
Cash From Investing Activities -660.0K
Cash From Financing Activities 429.9K 350.0K
Net Change In Cash -342.6K 249.7K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$112.5K -$100.3K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q4 TENK Condition For Future Business Combination Use Of Proceeds Percentage
ConditionForFutureBusinessCombinationUseOfProceedsPercentage
0.80 pure
CY2022Q4 TENK Condition For Future Business Combination Threshold Percentage Ownership
ConditionForFutureBusinessCombinationThresholdPercentageOwnership
0.50 pure
CY2022Q4 TENK Redemption Limit Percentage Without Prior Written Consent
RedemptionLimitPercentageWithoutPriorWrittenConsent
0.15 pure
CY2022Q4 TENK Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1 pure
CY2022Q4 TENK Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1 pure
CY2022Q4 TENK Maximum Allowed Dissolution Expenses
MaximumAllowedDissolutionExpenses
100000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zq2wKenESRfb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><i><span id="xdx_863_zm7M69SxHOZf">Use of Estimates</span></i></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of financial statements in conformity with US 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 at the date of the financial statements and the reported amounts of expenses during the reporting period.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0 usd
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount
SharesSubjectToMandatoryRedemptionSettlementTermsAmount
66000000 usd
CY2022Q4 TENK Proceeds Allocated To Public Rights
ProceedsAllocatedToPublicRights
-1056000 usd
CY2022Q4 TENK Offering Costs Allocated Ordinary Shares Subject To Redemption
OfferingCostsAllocatedOrdinarySharesSubjectToRedemption
-4755805 usd
CY2022Q4 TENK Temporary Equity Accrued Interest In Trust
TemporaryEquityAccruedInterestInTrust
7624825 usd
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
67813020 usd
CY2023Q1 TENK Temporary Equity Accrued Interest In Trust
TemporaryEquityAccruedInterestInTrust
759647 usd
CY2023Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
68572667 usd
CY2023Q2 TENK Temporary Equity Accrued Interest In Trusts
TemporaryEquityAccruedInterestInTrusts
815850 usd
CY2023Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
69388517 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zrPrs9aqTqp3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><i><span id="xdx_865_z5WCcOreuyU3">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $<span id="xdx_90C_eus-gaap--CashFDICInsuredAmount_iI_c20230630_zGkkZSWcph6l" title="FDIC insured amount">250,000</span>. The Company has not experienced losses on this account.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
12.00
CY2023Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
30000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
60000 usd
CY2022Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
0 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
0 usd
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
0 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
0 usd
CY2023Q2 us-gaap Share Price
SharePrice
10.00
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2416000 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2416000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2416000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2416000 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
225000 shares
CY2022Q4 us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
2922480 usd

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