2022 Q1 Form 10-K Financial Statement

#000095017022003369 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.611M $3.790M $11.05M
YoY Change 154.75% 342.12%
% of Gross Profit
Research & Development $8.759M $7.337M $24.78M
YoY Change 126.04% 308.88%
% of Gross Profit
Depreciation & Amortization $82.00K $82.00K $129.0K
YoY Change 1950.0% 2480.0%
% of Gross Profit
Operating Expenses $13.37M $11.13M $35.83M
YoY Change 135.39% 318.78%
Operating Profit -$13.37M -$35.83M
YoY Change 135.39% 330.14%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $105.0K $62.00K $298.0K
YoY Change -36.75% 496.0%
Pretax Income -$13.27M -$11.07M -$35.53M
YoY Change 140.74% 329.14%
Income Tax
% Of Pretax Income
Net Earnings -$13.27M -$11.07M -$35.53M
YoY Change 140.57% 329.14%
Net Earnings / Revenue
Basic Earnings Per Share -$0.24 -$0.77
Diluted Earnings Per Share -$239.0K -$199.5K -$773.5K
COMMON SHARES
Basic Shares Outstanding 55.70M 55.66M 45.94M
Diluted Shares Outstanding 55.51M 45.94M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $371.2M $384.1M $384.1M
YoY Change -9.75% 964.15% 964.18%
Cash & Equivalents $287.3M $298.6M $298.6M
Short-Term Investments $83.91M $85.50M $85.50M
Other Short-Term Assets $112.0K $7.000K $1.371M
YoY Change -72.0% -72.0% 814.0%
Inventory
Prepaid Expenses $2.439M $1.254M
Receivables
Other Receivables
Total Short-Term Assets $373.9M $385.4M $385.4M
YoY Change -9.2% 963.77% 963.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.448M $1.508M $5.122M
YoY Change 1348.0% 2023.94% 7217.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0%
Total Long-Term Assets $4.930M $5.122M $5.122M
YoY Change 4830.0% 1709.89% 1666.21%
TOTAL ASSETS
Total Short-Term Assets $373.9M $385.4M $385.4M
Total Long-Term Assets $4.930M $5.122M $5.122M
Total Assets $378.8M $390.6M $390.6M
YoY Change -8.03% 969.55% 969.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.901M $1.620M $1.620M
YoY Change -6.49% 15.8% 15.71%
Accrued Expenses $3.579M $3.663M $3.663M
YoY Change 113.93% 293.45% 293.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.480M $5.283M $5.283M
YoY Change 47.87% 126.74% 126.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.012M $3.144M $3.144M
YoY Change 2021.13% 2068.28% 1996.0%
Total Long-Term Liabilities $3.012M $3.144M $3.144M
YoY Change 2021.13% 2068.28% 1996.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.480M $5.283M $5.283M
Total Long-Term Liabilities $3.012M $3.144M $3.144M
Total Liabilities $8.492M $8.427M $8.427M
YoY Change 120.69% 240.48% 239.8%
SHAREHOLDERS EQUITY
Retained Earnings -$60.70M -$47.46M
YoY Change 248.11% 298.02%
Common Stock $432.4M $429.8M
YoY Change 1.62% 94995.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $370.3M $382.1M $382.1M
YoY Change
Total Liabilities & Shareholders Equity $378.8M $390.6M $390.6M
YoY Change -8.03% 969.55% 969.43%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$13.27M -$11.07M -$35.53M
YoY Change 140.57% 329.14%
Depreciation, Depletion And Amortization $82.00K $82.00K $129.0K
YoY Change 1950.0% 2480.0%
Cash From Operating Activities -$11.83M -$9.227M -$29.38M
YoY Change 219.91% 238.87%
INVESTING ACTIVITIES
Capital Expenditures $76.00K -$354.0K $1.538M
YoY Change 130.3% 1923.68%
Acquisitions
YoY Change
Other Investing Activities $490.0K -$49.71M -$52.11M
YoY Change -99.21% 55.59%
Cash From Investing Activities $414.0K -$50.06M -$53.64M
YoY Change -98.2% 59.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 156.0K 193.0K 379.2M
YoY Change -99.96% 751.55%
NET CHANGE
Cash From Operating Activities -11.83M -9.227M -29.38M
Cash From Investing Activities 414.0K -50.06M -53.64M
Cash From Financing Activities 156.0K 193.0K 379.2M
Net Change In Cash -11.26M -59.09M 296.2M
YoY Change -102.83% 12766.64%
FREE CASH FLOW
Cash From Operating Activities -$11.83M -$9.227M -$29.38M
Capital Expenditures $76.00K -$354.0K $1.538M
Free Cash Flow -$11.90M -$8.873M -$30.92M
YoY Change 219.12% 253.52%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Concentrations of Credit Risk</span></p><p style="text-indent:4.667%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and investment securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash balances due to the financial position of the depository institution in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity.</span></p>
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15000
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