$ELST
ELECTRONIC SYSTEMS TECHNOLOGY INC

2023 Q2 Form 10-Q Financial Statement

#000107997323000574 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $585.2K $305.1K $472.1K
YoY Change 40.38% -35.38% 11.15%
Cost Of Revenue $268.6K $139.6K $209.9K
YoY Change 40.33% -33.5% 16.25%
Gross Profit $316.6K $165.5K $262.3K
YoY Change 40.42% -36.88% 7.38%
Gross Profit Margin 54.1% 54.26% 55.55%
Selling, General & Admin $234.9K $233.0K $221.9K
YoY Change 18.03% 4.98% 18.23%
% of Gross Profit 74.19% 140.76% 84.63%
Research & Development $28.02K $28.66K $45.78K
YoY Change -38.9% -37.39% -13.13%
% of Gross Profit 8.85% 17.32% 17.46%
Depreciation & Amortization $380.00 $40.00 $110.00
YoY Change 245.45% -63.64% -91.47%
% of Gross Profit 0.12% 0.02% 0.04%
Operating Expenses $262.9K $261.7K $267.7K
YoY Change 7.37% -2.27% 11.36%
Operating Profit $53.69K -$96.13K -$5.460K
YoY Change -376.9% 1660.55% -242.56%
Interest Expense $5.180K $4.000K $490.00
YoY Change 777.97% 716.33% -43.02%
% of Operating Profit 9.65%
Other Income/Expense, Net
YoY Change
Pretax Income $58.87K -$92.12K -$4.960K
YoY Change -413.14% 1757.34% -205.98%
Income Tax $0.00
% Of Pretax Income
Net Earnings $58.87K -$92.12K -$4.960K
YoY Change -413.14% 1757.34% -205.98%
Net Earnings / Revenue 10.06% -30.2% -1.05%
Basic Earnings Per Share $0.01 -$0.02 $0.00
Diluted Earnings Per Share $0.01 -$0.02 -$1.003K
COMMON SHARES
Basic Shares Outstanding 4.947M shares 4.947M shares 4.947M shares
Diluted Shares Outstanding 4.947M shares 4.947M shares 4.947M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $782.1K $844.1K $1.101M
YoY Change -20.11% -23.31% 5.35%
Cash & Equivalents $382.1K $592.4K $850.7K
Short-Term Investments $400.0K $251.7K $250.0K
Other Short-Term Assets $82.73K $99.90K $40.90K
YoY Change 357.58% 144.25% 111.37%
Inventory $840.6K $729.3K $434.8K
Prepaid Expenses $19.73K $36.90K
Receivables $177.9K $107.8K $141.3K
Other Receivables $700.00 $680.00 $300.00
Total Short-Term Assets $1.884M $1.782M $1.718M
YoY Change 11.72% 3.71% -11.63%
LONG-TERM ASSETS
Property, Plant & Equipment $70.72K $9.876K $20.63K
YoY Change 550.6% -52.13% -65.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $70.72K $69.86K $20.62K
YoY Change 550.0% 238.8% -65.93%
TOTAL ASSETS
Total Short-Term Assets $1.884M $1.782M $1.718M
Total Long-Term Assets $70.72K $69.86K $20.62K
Total Assets $1.955M $1.852M $1.739M
YoY Change 15.17% 6.5% -13.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $93.79K $64.08K $49.70K
YoY Change 137.2% 28.94% 26.11%
Accrued Expenses $96.05K $72.12K $53.09K
YoY Change 321.83% 35.84% -42.76%
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 $189.8K $136.2K $102.8K
YoY Change 136.86% 32.5% -22.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $10.05K $20.20K
YoY Change
Total Long-Term Liabilities $10.05K $20.20K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $189.8K $136.2K $102.8K
Total Long-Term Liabilities $10.05K $20.20K $0.00
Total Liabilities $199.9K $156.4K $102.8K
YoY Change 149.39% 52.15% -77.31%
SHAREHOLDERS EQUITY
Retained Earnings $816.7K $757.9K
YoY Change
Common Stock $4.947K $4.947K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.755M $1.695M $1.636M
YoY Change
Total Liabilities & Shareholders Equity $1.955M $1.852M $1.739M
YoY Change 15.17% 6.5% -13.27%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $58.87K -$92.12K -$4.960K
YoY Change -413.14% 1757.34% -205.98%
Depreciation, Depletion And Amortization $380.00 $40.00 $110.00
YoY Change 245.45% -63.64% -91.47%
Cash From Operating Activities -$51.25K -$149.7K $51.02K
YoY Change -57.87% -393.42% -52.04%
INVESTING ACTIVITIES
Capital Expenditures $10.77K $9.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$148.3K $0.00 $150.0K
YoY Change -1.13% -100.0% -40.0%
Cash From Investing Activities -$159.1K -$9.000K $150.0K
YoY Change 6.05% -106.0% -40.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -5.970K
YoY Change -104.58%
NET CHANGE
Cash From Operating Activities -51.25K -$149.7K 51.02K
Cash From Investing Activities -159.1K -$9.000K 150.0K
Cash From Financing Activities 0.000 -5.970K
Net Change In Cash -210.3K -$158.7K 195.1K
YoY Change -22.58% -181.36% -59.92%
FREE CASH FLOW
Cash From Operating Activities -$51.25K -$149.7K $51.02K
Capital Expenditures $10.77K $9.000K
Free Cash Flow -$62.02K -$158.7K $51.02K
YoY Change -411.06%

Facts In Submission

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y3M18D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y4M24D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q1 fil Sales Order Backlog
SalesOrderBacklog
162396 usd
CY2022Q1 fil Sales Order Backlog
SalesOrderBacklog
116461 usd
CY2022Q3 fil Leasehold Tax Percentage
LeaseholdTaxPercentage
0.1284 pure
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
78757 usd
CY2022Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.04125 pure
CY2023Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P18M
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
30671 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
31304 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
11576 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
10903 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
10277 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
9644 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1299 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1259 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
11576 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
10903 usd
CY2022Q4 fil Employee Retention Tax Credit Receivable
EmployeeRetentionTaxCreditReceivable
63000 usd
CY2023Q1 fil Employee Retention Tax Credit Receivable
EmployeeRetentionTaxCreditReceivable
63000 usd

Files In Submission

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0001079973-23-000574-index-headers.html Edgar Link pending
0001079973-23-000574-index.html Edgar Link pending
0001079973-23-000574.txt Edgar Link pending
0001079973-23-000574-xbrl.zip Edgar Link pending
elec_10q-033123.htm Edgar Link pending
ex31x1.htm Edgar Link pending
ex31x2.htm Edgar Link pending
ex32x1.htm Edgar Link pending
ex32x2.htm Edgar Link pending
fil-20230331.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
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R3.htm Edgar Link pending
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R6.htm Edgar Link pending
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R8.htm Edgar Link pending
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report.css Edgar Link pending
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fil-20230331_def.xml Edgar Link unprocessable
fil-20230331_cal.xml Edgar Link unprocessable
fil-20230331_lab.xml Edgar Link unprocessable
fil-20230331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
elec_10q-033123_htm.xml Edgar Link completed