2023 Q3 Form 10-Q Financial Statement
#000106299323016131 Filed on August 10, 2023
Income Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $1.915M | $2.579M |
| YoY Change | -20.08% | -22.04% |
| % of Gross Profit | ||
| Research & Development | $6.945M | $7.599M |
| YoY Change | 48.46% | 101.49% |
| % of Gross Profit | ||
| Depreciation & Amortization | $113.4K | $63.25K |
| YoY Change | 111.41% | 31.16% |
| % of Gross Profit | ||
| Operating Expenses | $8.860M | $10.18M |
| YoY Change | 25.24% | 43.76% |
| Operating Profit | -$8.860M | -$10.18M |
| YoY Change | 25.24% | 43.76% |
| Interest Expense | $58.06K | $41.05K |
| YoY Change | ||
| % of Operating Profit | ||
| Other Income/Expense, Net | $58.06K | $41.05K |
| YoY Change | -235.16% | -22.15% |
| Pretax Income | -$8.802M | -$10.14M |
| YoY Change | 23.67% | 44.25% |
| Income Tax | -$284.9K | -$314.6K |
| % Of Pretax Income | ||
| Net Earnings | -$8.543M | -$9.823M |
| YoY Change | 29.91% | 69.1% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | -$0.11 | -$0.13 |
| Diluted Earnings Per Share | -$0.11 | -$0.13 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 78.76M shares | 75.31M shares |
| Diluted Shares Outstanding | 78.08M shares | 75.94M shares |
Balance Sheet
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $12.76M | $15.44M |
| YoY Change | -54.56% | -55.94% |
| Cash & Equivalents | $12.76M | $15.44M |
| Short-Term Investments | ||
| Other Short-Term Assets | $539.5K | $696.5K |
| YoY Change | -30.05% | -28.22% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $129.0K | $124.7K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $13.42M | $16.26M |
| YoY Change | -53.61% | -55.67% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $2.002M | $1.621M |
| YoY Change | 55.18% | 26.26% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $391.7K | $350.6K |
| YoY Change | 1858.25% | 776.59% |
| Total Long-Term Assets | $81.54M | $80.81M |
| YoY Change | 2.18% | 3.17% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $13.42M | $16.26M |
| Total Long-Term Assets | $81.54M | $80.81M |
| Total Assets | $94.97M | $97.07M |
| YoY Change | -12.67% | -15.59% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $983.9K | $1.621M |
| YoY Change | -29.87% | -25.57% |
| Accrued Expenses | $1.051M | $935.4K |
| YoY Change | 73.37% | 174.14% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $2.203M | $2.578M |
| YoY Change | 8.31% | 1.17% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $127.3K | |
| YoY Change | ||
| Total Long-Term Liabilities | $127.3K | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $2.203M | $2.578M |
| Total Long-Term Liabilities | $127.3K | $0.00 |
| Total Liabilities | $2.789M | $3.321M |
| YoY Change | -30.06% | -34.14% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$33.85M | -$25.30M |
| YoY Change | -5068.59% | -448.68% |
| Common Stock | $79.07K | $76.86K |
| YoY Change | 9.55% | 6.75% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $92.18M | $93.75M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $94.97M | $97.07M |
| YoY Change | -12.67% | -15.59% |
Cashflow Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$8.543M | -$9.823M |
| YoY Change | 29.91% | 69.1% |
| Depreciation, Depletion And Amortization | $113.4K | $63.25K |
| YoY Change | 111.41% | 31.16% |
| Cash From Operating Activities | -$8.169M | -$8.575M |
| YoY Change | 33.37% | 38.07% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $544.0K | $515.4K |
| YoY Change | -163.54% | 401.17% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$95.75K | $7.390K |
| YoY Change | ||
| Cash From Investing Activities | -$639.8K | -$508.0K |
| YoY Change | -25.28% | 216.08% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 6.124M | 4.249M |
| YoY Change | 81555.2% | 35310.5% |
| NET CHANGE | ||
| Cash From Operating Activities | -8.169M | -8.575M |
| Cash From Investing Activities | -639.8K | -508.0K |
| Cash From Financing Activities | 6.124M | 4.249M |
| Net Change In Cash | -2.684M | -4.834M |
| YoY Change | -61.51% | -23.99% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$8.169M | -$8.575M |
| Capital Expenditures | $544.0K | $515.4K |
| Free Cash Flow | -$8.713M | -$9.090M |
| YoY Change | 65.37% | 43.99% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | usd |
| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | usd |
| CY2022Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
52729 | usd |
| CY2021Q3 | us-gaap |
Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
|
0.51 | pure |
| CY2023Q2 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
36800000 | usd |
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
237136 | usd | |
| CY2022Q1 | us-gaap |
Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
|
1600000 | usd |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
75687 | usd | |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
192857 | usd | |
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | usd | |
| dc |
Withholding Of Employee Tax Payment On Psu
WithholdingOfEmployeeTaxPaymentOnPsu
|
38000 | usd | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
333588 | shares | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.81 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.39 | ||
| CY2022Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.1734 | pure |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.449 | pure |
