2023 Q3 Form 10-Q Financial Statement

#000165495423010487 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $910.0K $893.5K $1.118M
YoY Change 1.93% -20.08% 141.59%
% of Gross Profit
Research & Development $903.0K $838.9K $1.613M
YoY Change -41.87% -47.97% 85.95%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.812M $1.732M $1.613M
YoY Change 16.65% 7.43% 85.95%
Operating Profit -$1.812M -$1.732M -$2.731M
YoY Change -25.92% -36.55% 105.31%
Interest Expense $90.00K $31.05K $0.00
YoY Change 318.8% -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.720M -$1.701M -$2.731M
YoY Change -29.06% -37.69% 105.03%
Income Tax
% Of Pretax Income
Net Earnings -$1.719M -$1.701M -$2.731M
YoY Change -29.09% -37.69% 105.03%
Net Earnings / Revenue
Basic Earnings Per Share -$0.54 -$0.63 -$3.90
Diluted Earnings Per Share -$0.54 -$0.63 -$243.9K
COMMON SHARES
Basic Shares Outstanding 3.189M shares 2.338M shares 9.227M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.630M $8.439M $10.63M
YoY Change -17.81% -20.6% 2387.8%
Cash & Equivalents $6.631M $8.439M $10.63M
Short-Term Investments
Other Short-Term Assets $690.0K $273.6K $398.5K
YoY Change -22.92% -31.36% -43.84%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $7.320M $8.713M $11.03M
YoY Change -18.44% -20.98% 869.9%
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 $3.383K $1.00 -$2.00
YoY Change -338400.0% -150.0%
TOTAL ASSETS
Total Short-Term Assets $7.320M $8.713M $11.03M
Total Long-Term Assets $3.383K $1.00 -$2.00
Total Assets $7.323M $8.713M $11.03M
YoY Change -18.4% -20.98% 869.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $474.5K $437.8K $608.8K
YoY Change -1.92% -28.09% -30.92%
Accrued Expenses $440.0K $245.1K $757.7K
YoY Change -56.89% -67.65% 29.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $920.0K $682.9K $1.366M
YoY Change -38.84% -50.03% -16.81%
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 $920.0K $682.9K $1.366M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $916.8K $682.9K $1.366M
YoY Change -39.05% -50.03% -16.81%
SHAREHOLDERS EQUITY
Retained Earnings -$51.25M -$49.53M -$41.50M
YoY Change 16.69% 19.36% 30.84%
Common Stock $319.00 $319.00 $1.010K
YoY Change -73.64% -68.42% 428.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.407M $8.030M $9.660M
YoY Change
Total Liabilities & Shareholders Equity $7.323M $8.713M $11.03M
YoY Change -18.4% -20.98% 869.9%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$1.719M -$1.701M -$2.731M
YoY Change -29.09% -37.69% 105.03%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.770M -$1.840M -$1.840M
YoY Change -30.89% 0.05% 103.66%
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 -40.00K 1.512M 4.276M
YoY Change -20100.0% -64.64%
NET CHANGE
Cash From Operating Activities -1.770M -1.840M -1.840M
Cash From Investing Activities
Cash From Financing Activities -40.00K 1.512M 4.276M
Net Change In Cash -1.810M -328.2K 2.437M
YoY Change -29.33% -113.47% -369.81%
FREE CASH FLOW
Cash From Operating Activities -$1.770M -$1.840M -$1.840M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The Company’s financial statements are prepared in accordance with GAAP. The preparation of the Company’s financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, and expenses and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments, including those related to accrued research and development expenses, stock-based compensation, and the estimated fair values of equity instruments. Management evaluates its estimates on an ongoing basis. The Company bases its estimates on various assumptions that it believes are reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.</p>
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