2022 Form 10-K Financial Statement
#000149315222018108 Filed on June 29, 2022
Income Statement
| Concept | 2022 | 2021 |
|---|---|---|
| Revenue | $32.26M | $25.38M |
| YoY Change | 27.11% | 41.05% |
| Cost Of Revenue | $17.47M | $13.51M |
| YoY Change | 29.25% | 34.92% |
| Gross Profit | $14.80M | $11.87M |
| YoY Change | 24.68% | 48.73% |
| Gross Profit Margin | 45.86% | 46.76% |
| Selling, General & Admin | $4.478M | $3.336M |
| YoY Change | 34.23% | -2.22% |
| % of Gross Profit | 30.27% | 28.11% |
| Research & Development | $4.051M | $5.113M |
| YoY Change | -20.76% | -7.59% |
| % of Gross Profit | 27.38% | 43.08% |
| Depreciation & Amortization | $1.209M | $1.314M |
| YoY Change | -7.97% | -0.45% |
| % of Gross Profit | 8.17% | 11.07% |
| Operating Expenses | $9.725M | $9.763M |
| YoY Change | -0.39% | -4.89% |
| Operating Profit | $5.071M | $2.105M |
| YoY Change | 140.94% | -192.09% |
| Interest Expense | $1.234M | $978.1K |
| YoY Change | 26.14% | -167.2% |
| % of Operating Profit | 24.33% | 46.47% |
| Other Income/Expense, Net | $1.234M | |
| YoY Change | ||
| Pretax Income | $6.304M | $4.145M |
| YoY Change | 52.12% | -285.16% |
| Income Tax | -$1.736M | |
| % Of Pretax Income | -27.54% | |
| Net Earnings | $8.041M | $5.088M |
| YoY Change | 58.02% | -327.13% |
| Net Earnings / Revenue | 24.92% | 20.05% |
| Basic Earnings Per Share | $0.01 | |
| Diluted Earnings Per Share | $7.956K | $5.396K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 1.011B shares | |
| Diluted Shares Outstanding | 1.011B shares |
Balance Sheet
| Concept | 2022 | 2021 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $8.535M | $3.193M |
| YoY Change | 167.33% | 182.11% |
| Cash & Equivalents | ||
| Short-Term Investments | ||
| Other Short-Term Assets | $527.0K | $492.6K |
| YoY Change | 6.97% | -43.39% |
| Inventory | $6.741M | $5.013M |
| Prepaid Expenses | ||
| Receivables | $3.058M | $3.496M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $18.86M | $12.19M |
| YoY Change | 54.67% | 18.96% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $6.985M | $6.864M |
| YoY Change | 1.76% | -9.58% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $91.74K | $91.74K |
| YoY Change | 0.0% | 21.46% |
| Other Assets | $2.577M | $405.0K |
| YoY Change | 536.25% | 0.05% |
| Total Long-Term Assets | $16.29M | $13.99M |
| YoY Change | 16.38% | -4.83% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $18.86M | $12.19M |
| Total Long-Term Assets | $16.29M | $13.99M |
| Total Assets | $35.15M | $26.19M |
| YoY Change | 34.21% | 4.94% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.431M | $929.7K |
| YoY Change | 53.92% | -41.08% |
| Accrued Expenses | $4.896M | $4.459M |
| YoY Change | 9.81% | -11.35% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $353.8K | $410.8K |
| YoY Change | -13.87% | -77.82% |
| Total Short-Term Liabilities | $6.694M | $5.813M |
| YoY Change | 15.17% | -32.72% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $1.389M | $1.741M |
| YoY Change | -20.21% | -3.31% |
| Other Long-Term Liabilities | $1.844M | $2.484M |
| YoY Change | -25.78% | -35.65% |
| Total Long-Term Liabilities | $3.233M | $4.225M |
| YoY Change | -23.49% | -25.37% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $6.694M | $5.813M |
| Total Long-Term Liabilities | $3.233M | $4.225M |
| Total Liabilities | $9.927M | $10.04M |
| YoY Change | -1.1% | -29.81% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $25.22M | $16.15M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $35.15M | $26.19M |
| YoY Change | 34.21% | 4.94% |
Cashflow Statement
| Concept | 2022 | 2021 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $8.041M | $5.088M |
| YoY Change | 58.02% | -327.13% |
| Depreciation, Depletion And Amortization | $1.209M | $1.314M |
| YoY Change | -7.97% | -0.45% |
| Cash From Operating Activities | $6.508M | $3.194M |
| YoY Change | 103.78% | -278.05% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$498.6K | -$330.0K |
| YoY Change | 51.09% | 844.15% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $67.20K |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$498.6K | -$262.8K |
| YoY Change | 89.73% | 651.87% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $0.00 | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -667.1K | -869.8K |
| YoY Change | -23.3% | -226.15% |
| NET CHANGE | ||
| Cash From Operating Activities | 6.508M | 3.194M |
| Cash From Investing Activities | -498.6K | -262.8K |
| Cash From Financing Activities | -667.1K | -869.8K |
| Net Change In Cash | 5.343M | 2.061M |
| YoY Change | 159.19% | -280.93% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $6.508M | $3.194M |
| Capital Expenditures | -$498.6K | -$330.0K |
| Free Cash Flow | $7.007M | $3.524M |
| YoY Change | 98.84% | -300.35% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022 | ELTP |
Commitment Shares Issued To Capital
CommitmentSharesIssuedToCapital
|
USD | |
| CY2022 | ELTP |
Conversion Of Preferred Stock To Common Stock
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|
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| CY2022 | us-gaap |
Dilutive Securities
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|
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| CY2021 | us-gaap |
Dilutive Securities
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| CY2022 | us-gaap |
Finitelived Intangible Assets Acquired1
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| CY2022 | ELTP |
Finitelived Intangible Assets Reductions
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| CY2022Q1 | us-gaap |
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| CY2021 | us-gaap |
Finitelived Intangible Assets Acquired1
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Finitelived Intangible Assets Reductions
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|
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| CY2021Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
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| CY2022 | us-gaap |
Debt Instrument Maturity Date Range Start1
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2022-10-31 | |
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Debt Instrument Maturity Date Range Start1
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2022-10-31 | |
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2025-10-31 | |
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Debt Instrument Maturity Date Range End1
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2025-10-31 | |
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Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
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|
shares | |
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| CY2021 | ELTP |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted During Period Weighted Average Exercise Price
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| CY2022 | ELTP |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised Forfeitures And Expirations
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shares | |
| CY2022 | ELTP |
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| CY2021 | ELTP |
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shares | |
| CY2021 | ELTP |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised Forfeitures And Expiration Weighted Average Exercise Price
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| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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| CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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Deferred State And Local Income Tax Expense Benefit
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|
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Paycheck Protection Program Loan Forgiveness
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|
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| CY2021 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
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|
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Gain Loss On Sales Of Assets And Asset Impairment Charges
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Supplemental Noncash Amounts Of Lease Liabilities Arising From Obtaining Right Of Use Assets
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