2024 Q1 Form 10-K Financial Statement

#000149315224012016 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $196.7K $693.3K $1.283M
YoY Change -1.78% 84.02% 38.08%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.89K $26.12K $76.12K
YoY Change -6.72% -1.73% -46.27%
% of Gross Profit
Operating Expenses $219.6K $710.2K $1.351M
YoY Change 1.1% 78.9% 35.01%
Operating Profit
YoY Change
Interest Expense -$251.9K -$205.9K -$815.9K
YoY Change -246.68% -5.63% -4.58%
% of Operating Profit
Other Income/Expense, Net -$58.77K
YoY Change -93.13%
Pretax Income -$471.5K -$159.1K -$1.410M
YoY Change -5.32% -74.15% -24.03%
Income Tax
% Of Pretax Income
Net Earnings -$471.4K -$184.5K -$1.410M
YoY Change -5.32% -71.21% -24.03%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 -$0.04
Diluted Earnings Per Share -$0.01 $0.00 -$0.04
COMMON SHARES
Basic Shares Outstanding 36.30M shares 36.30M shares 37.44M shares
Diluted Shares Outstanding 36.30M shares 37.44M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $312.9K $426.1K $426.1K
YoY Change 1973.43% 662.43% 662.43%
Cash & Equivalents $312.9K $426.1K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $312.9K $426.1K $426.1K
YoY Change 1973.58% 662.5% 662.43%
LONG-TERM ASSETS
Property, Plant & Equipment $5.233M $5.233M $5.233M
YoY Change -4.44% -4.44% -4.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00 $80.00 $80.00
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $5.388M $5.388M $5.388M
YoY Change -1.61% -1.61% -1.61%
TOTAL ASSETS
Total Short-Term Assets $312.9K $426.1K $426.1K
Total Long-Term Assets $5.388M $5.388M $5.388M
Total Assets $5.701M $5.814M $5.814M
YoY Change 3.82% 5.1% 5.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.580M $1.548M $1.548M
YoY Change -79.63% -79.25% 8.68%
Accrued Expenses $12.06M $11.73M $11.73M
YoY Change 10.84% 11.81% 11.81%
Deferred Revenue
YoY Change
Short-Term Debt $3.878M $3.878M $3.878M
YoY Change 4717.15% 4717.15% -0.39%
Long-Term Debt Due $1.234M $1.211M $1.211M
YoY Change -3.81% -3.37% -3.37%
Total Short-Term Liabilities $19.06M $18.68M $18.68M
YoY Change 5.94% 6.56% 6.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $19.06M $18.68M $18.68M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $19.06M $18.68M $18.68M
YoY Change 5.94% 6.56% 6.56%
SHAREHOLDERS EQUITY
Retained Earnings -$47.36M -$46.86M
YoY Change 3.24% 3.33%
Common Stock $39.05K $39.05K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $232.9K $232.9K
YoY Change 7.73% 7.73%
Treasury Stock Shares
Shareholders Equity -$13.36M -$12.86M -$12.86M
YoY Change
Total Liabilities & Shareholders Equity $5.701M $5.814M $5.814M
YoY Change 3.82% 5.1% 5.1%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$471.4K -$184.5K -$1.410M
YoY Change -5.32% -71.21% -24.03%
Depreciation, Depletion And Amortization $22.89K $26.12K $76.12K
YoY Change -6.72% -1.73% -46.27%
Cash From Operating Activities -$113.2K -$269.0K -$439.0K
YoY Change 78.91% 5123.88% 211.14%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $845.4K $845.4K
YoY Change
Cash From Investing Activities $845.4K $845.4K
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 -176.1K -$36.11K
YoY Change -131.43%
NET CHANGE
Cash From Operating Activities -$113.2K -269.0K -$439.0K
Cash From Investing Activities 845.4K $845.4K
Cash From Financing Activities -176.1K -$36.11K
Net Change In Cash -$113.2K 400.2K $370.2K
YoY Change 177.58% -7871.65% -1512.8%
FREE CASH FLOW
Cash From Operating Activities -$113.2K -$269.0K -$439.0K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 DHCC Unpaid Preferred Stock Dividends In Accounts Payable And Accrued Expenses
UnpaidPreferredStockDividendsInAccountsPayableAndAccruedExpenses
101600 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1511427 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-46862802 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
13587711 usd
CY2023Q4 us-gaap Cash
Cash
426124 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zSy8obdxx4E7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zQRVcJXJvXXc">Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Land
Land
5233204 usd
CY2022Q4 us-gaap Land
Land
5476097 usd
CY2023Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1000000 usd
CY2023Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
845378 usd
CY2023Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1000000 usd
CY2023Q4 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
154622 usd
CY2023 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
79545 shares
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0 usd
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0 usd
CY2023 DHCC Weighted Average Number Of Shares Yet To Issue Basic
WeightedAverageNumberOfSharesYetToIssueBasic
1140000 shares
CY2022 DHCC Weighted Average Number Of Shares Yet To Issue Basic
WeightedAverageNumberOfSharesYetToIssueBasic
860000 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4815000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4815000 shares
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_845_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zRXpBh6vkUT8" style="margin: 0"><i><span id="xdx_86F_zI0Qrk8JHOT9">Reclassification</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain reclassifications have been made to the Company’s consolidated financial statements for the year ended December 31, 2023 to conform to the current period’s consolidated financial statement presentation. A reclassification of $<span id="xdx_909_ecustom--AllocatedShareBasedCompensationExpenses_c20230101__20231231_zB07bKKHQYm5" title="Share based compensation">11,480</span> from administrative and general expenses to stock-based compensation expense was recorded. The reclassification did not have any effects on the Company’s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 DHCC Allocated Share Based Compensation Expenses
AllocatedShareBasedCompensationExpenses
11480 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
3869711 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
3569711 usd
CY2023Q4 DHCC Interest Payble Related Party Current
InterestPaybleRelatedPartyCurrent
2897159 usd
CY2022Q4 DHCC Interest Payble Related Party Current
InterestPaybleRelatedPartyCurrent
2467844 usd
CY2023Q4 DHCC Accrued Director Fees Current
AccruedDirectorFeesCurrent
928750 usd
CY2022Q4 DHCC Accrued Director Fees Current
AccruedDirectorFeesCurrent
838750 usd
CY2023Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
198983 usd
CY2022Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
165295 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
17308 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
17308 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3115463 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
2841520 usd
CY2023Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
1270000 usd
CY2022Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
1168400 usd
CY2023Q4 DHCC Accrued Fines And Penalties
AccruedFinesAndPenalties
578775 usd
CY2022Q4 DHCC Accrued Fines And Penalties
AccruedFinesAndPenalties
444875 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
308286 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
463743 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
5272524 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4918538 usd
CY2017Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
65504 usd
CY2014Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.04 pure
CY2023Q4 DHCC Proceeds From Eminent Domain Settlement
ProceedsFromEminentDomainSettlement
25000 usd
CY2023Q4 us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
74520 usd
CY2023 us-gaap Payments For Rent
PaymentsForRent
4534 usd
CY2023Q4 DHCC Rent Expense
RentExpense
54408 usd
CY2023 DHCC Associated Rental Costs
AssociatedRentalCosts
33689 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
88097 usd
CY2022Q4 DHCC Rent Expense
RentExpense
54408 usd
CY2022 DHCC Associated Rental Costs
AssociatedRentalCosts
30737 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
85145 usd
CY2022 DHCC Allocated Share Based Compensation Expenses
AllocatedShareBasedCompensationExpenses
11480 usd
CY2023Q4 us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
74520 usd
CY2023Q4 DHCC Remaining Balance Debt
RemainingBalanceDebt
480 usd
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
21570 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4555000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.41
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4555000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.41
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4555000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.41
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4555000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.41
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4555000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.41
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
4555000 shares
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
4555000 shares
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
4555000 shares
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
4555000 shares
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
1670465 shares
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
350464 usd
CY2023 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
79545 shares
CY2022 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
79545 shares
CY2023 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
16704 usd
CY2022 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
30227 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5600000 usd
CY2023 DHCC Net Operating Loss Carryforwards Expiration Date Descrption
NetOperatingLossCarryforwardsExpirationDateDescrption
expire during various periods through 2041
CY2023 us-gaap Tax Credit Carryforward Description
TaxCreditCarryforwardDescription
federal statutory rate of 21% to the carryforward amounts
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1700000 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
215000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.80 pure
CY2023Q4 DHCC Accrued Franchise Taxes
AccruedFranchiseTaxes
17400 usd
CY2023Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1000000 usd
CY2023Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
845378 usd
CY2023Q4 DHCC Remaining Balance Of Debt
RemainingBalanceOfDebt
155000 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1500000 usd
CY2023Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1500000 usd

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