2024 Q3 Form 10-Q Financial Statement

#000149315224030991 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit -$384.0K
YoY Change 92.41%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $636.4K
YoY Change -21.99%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $252.5K
YoY Change -59.04%
Net Earnings / Revenue
Basic Earnings Per Share $0.04
Diluted Earnings Per Share $0.04
COMMON SHARES
Basic Shares Outstanding 2.355M shares 6.653M shares
Diluted Shares Outstanding 4.312M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $261.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $40.73K
Receivables
Other Receivables
Total Short-Term Assets $40.99K
YoY Change -91.13%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $49.15M
YoY Change -29.16%
TOTAL ASSETS
Total Short-Term Assets $40.99K
Total Long-Term Assets $49.15M
Total Assets $49.19M
YoY Change -29.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $485.8K
YoY Change 346.06%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.081M
YoY Change 564.17%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.081M
Total Long-Term Liabilities
Total Liabilities
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$3.040M
YoY Change 137461.86%
Common Stock $167.00
YoY Change -30.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.040M
YoY Change
Total Liabilities & Shareholders Equity $49.19M
YoY Change -29.57%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $252.5K
YoY Change -59.04%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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AdditionalPaidInCapital
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dei Entity Central Index Key
EntityCentralIndexKey
0001851484
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
00-0000000
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-41534
dei Entity Registrant Name
EntityRegistrantName
CITIUS ONCOLOGY, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Address Address Line1
EntityAddressAddressLine1
420 Lexington Ave
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 2446
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10170
dei City Area Code
CityAreaCode
(347)
dei Local Phone Number
LocalPhoneNumber
627-0058
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
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dei Entity Shell Company
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CY2024Q2 TENK Interest Income On Investments Held In Trust
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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zwvsoEuw5PC2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_z1geVEvuXSAe">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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261 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
370095 usd
TENK Remeasurement Of Ordinary Shares Subject To Redemption
RemeasurementOfOrdinarySharesSubjectToRedemption
1794679 usd
TENK Remeasurement Of Ordinary Shares Subject To Redemption
RemeasurementOfOrdinarySharesSubjectToRedemption
1575497 usd
CY2022Q4 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
67320000 usd
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 Maximum Allowed Dissolution Expenses
MaximumAllowedDissolutionExpenses
100000 usd
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2287923 shares
CY2024Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
6653077 shares
CY2024Q2 us-gaap Payments For Deposits
PaymentsForDeposits
66667 usd
CY2024Q2 TENK Investments Held In Trust Account
InvestmentsHeldInTrustAccount
49152639 usd
CY2023Q4 TENK Investments Held In Trust Account
InvestmentsHeldInTrustAccount
72565394 usd
CY2022Q4 us-gaap Payments For Deposits
PaymentsForDeposits
66667 usd
CY2022Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.03
CY2022Q4 us-gaap Share Price
SharePrice
10.00
CY2023Q4 TENK Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1 pure
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.03
CY2023Q4 TENK Temporary Equity Carrying Amount Subject To Possible Redemption
TemporaryEquityCarryingAmountSubjectToPossibleRedemption
72565394 usd
TENK Offering Costs Allocated Ordinary Shares Subject To Redemption
OfferingCostsAllocatedOrdinarySharesSubjectToRedemption
-25207434 usd
TENK Remeasurement Of Ordinary Shares Subject To Redemption
RemeasurementOfOrdinarySharesSubjectToRedemption
1794679 usd
CY2024Q2 TENK Temporary Equity Carrying Amount Subject To Possible Redemption
TemporaryEquityCarryingAmountSubjectToPossibleRedemption
49152639 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zyUEkqh3rhjf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zJgLEKmMadMb">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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_908_eus-gaap--CashFDICInsuredAmount_iI_c20240630_zBPpgEjqH1a5" title="FDIC insured amount">250,000</span>. The Company has not experienced losses on this account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
12.00
CY2024Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
30000 usd
CY2023Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
30000 usd
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
120000 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
60000 usd
CY2024Q2 us-gaap Share Price
SharePrice
10.00
CY2023Q3 us-gaap Payments For Deposits
PaymentsForDeposits
660000 usd
CY2023Q4 us-gaap Payments For Deposits
PaymentsForDeposits
660000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of ordinary shares are entitled to one vote for each share.
CY2024Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
2341000 shares
CY2024Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
2341000 shares
CY2023Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
2341000 shares
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
2341000 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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