2021 Q4 Form 10-K Financial Statement

#000140191422000032 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.427M $8.451M $1.800M
YoY Change 34.81% 27.47% 20.81%
% of Gross Profit
Research & Development $7.116M $30.62M $6.640M
YoY Change 7.18% 47.42% 180.17%
% of Gross Profit
Depreciation & Amortization $7.040K $26.41K $0.00
YoY Change -38.9% -100.0%
% of Gross Profit
Operating Expenses $9.543M $39.07M $8.440M
YoY Change 13.07% 42.57% 118.65%
Operating Profit -$39.07M
YoY Change 42.57%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $830.00 $2.520K $0.00
YoY Change 66.45% -100.0%
Pretax Income -$9.542M -$38.70M -$8.440M
YoY Change 13.06% 41.22% 118.09%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.542M -$38.70M -$8.440M
YoY Change 13.06% 41.24% 118.09%
Net Earnings / Revenue
Basic Earnings Per Share -$0.63
Diluted Earnings Per Share -$183.4K -$0.63 -$220.8K
COMMON SHARES
Basic Shares Outstanding 76.60M shares 61.15M shares 37.99M shares
Diluted Shares Outstanding 61.15M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.67M $51.67M $4.670M
YoY Change 1006.51% 1006.51% -2.3%
Cash & Equivalents $51.67M $51.67M $4.669M
Short-Term Investments
Other Short-Term Assets $2.477M $2.477M $1.850M
YoY Change 33.87% 33.87% 66.67%
Inventory
Prepaid Expenses $2.477M $1.854M
Receivables
Other Receivables $1.145M $460.2K
Total Short-Term Assets $55.30M $55.30M $6.984M
YoY Change 691.76% 692.21% 8.38%
LONG-TERM ASSETS
Property, Plant & Equipment $26.04K $242.7K $37.93K
YoY Change -31.34% -13.32% -40.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $485.1K $268.5K $528.9K
YoY Change -8.27% -7.43% -43.46%
Total Long-Term Assets $511.2K $511.2K $566.8K
YoY Change -9.82% -10.32% -43.26%
TOTAL ASSETS
Total Short-Term Assets $55.30M $55.30M $6.984M
Total Long-Term Assets $511.2K $511.2K $566.8K
Total Assets $55.81M $55.81M $7.551M
YoY Change 639.1% 639.17% 1.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.103M $2.103M $1.021M
YoY Change 105.92% 106.18% -5.71%
Accrued Expenses $3.136M $3.407M $3.360M
YoY Change -6.65% -8.17% 60.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $370.0K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.05M $16.05M $7.661M
YoY Change 109.55% 109.57% 36.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $1.000M $41.84K
YoY Change -100.0% -3.85% -89.26%
Total Long-Term Liabilities $0.00 $1.000M $41.84K
YoY Change -100.0% -3.85% -89.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.05M $16.05M $7.661M
Total Long-Term Liabilities $0.00 $1.000M $41.84K
Total Liabilities $17.05M $17.05M $8.702M
YoY Change 95.95% 96.01% 24.29%
SHAREHOLDERS EQUITY
Retained Earnings -$110.1M -$71.43M
YoY Change 54.17% 62.26%
Common Stock $149.0M $70.37M
YoY Change 111.79% 57.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.75M $38.75M -$1.152M
YoY Change
Total Liabilities & Shareholders Equity $55.81M $55.81M $7.551M
YoY Change 639.1% 639.17% 1.45%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$9.542M -$38.70M -$8.440M
YoY Change 13.06% 41.24% 118.09%
Depreciation, Depletion And Amortization $7.040K $26.41K $0.00
YoY Change -38.9% -100.0%
Cash From Operating Activities -$9.916M -$28.76M -$9.190M
YoY Change 7.9% 13.99% 141.21%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $14.52K $0.00
YoY Change -17.59%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 -$14.52K $0.00
YoY Change -17.59% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $16.30M
YoY Change -29.06%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.00M $75.85M 8.450M
YoY Change 89.39% 201.81%
NET CHANGE
Cash From Operating Activities -9.916M -$28.76M -9.190M
Cash From Investing Activities 0.000 -$14.52K 0.000
Cash From Financing Activities 16.00M $75.85M 8.450M
Net Change In Cash 6.088M $47.00M -740.0K
YoY Change -922.69% -42584.29% -131.76%
FREE CASH FLOW
Cash From Operating Activities -$9.916M -$28.76M -$9.190M
Capital Expenditures $0.00 $14.52K $0.00
Free Cash Flow -$9.916M -$28.78M -$9.190M
YoY Change 7.9% 13.96% 141.21%

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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of stock-based compensation. Actual results could differ from those estimates and could materially affect the reported amounts of assets, liabilities and future operating results.</span></div>
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