2023 Q3 Form 10-Q Financial Statement

#000095017023041349 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.640M $4.950M $3.080M
YoY Change -0.19% 20.38% -11.44%
% of Gross Profit
Research & Development $19.61M $15.18M $180.0K
YoY Change 10672.53% 104.93% -98.34%
% of Gross Profit
Depreciation & Amortization $79.00K $74.00K $0.00
YoY Change -24.04% -84.68% -100.0%
% of Gross Profit
Operating Expenses $24.25M $20.13M $3.260M
YoY Change 401.93% 74.76% -77.26%
Operating Profit -$24.25M -$20.13M
YoY Change 401.93% 74.76%
Interest Expense $3.492M $3.413M $510.0K
YoY Change 1342.98% 3002.73% 608.33%
% of Operating Profit
Other Income/Expense, Net $3.479M $3.413M $20.00K
YoY Change 1467.12% 4640.28% -135.09%
Pretax Income -$20.77M -$16.72M $32.27M
YoY Change 350.64% 46.04% -325.36%
Income Tax $0.00 $90.00K
% Of Pretax Income 0.28%
Net Earnings -$20.77M -$16.72M $32.19M
YoY Change 350.62% 46.05% -324.81%
Net Earnings / Revenue
Basic Earnings Per Share -$0.51 -$0.41
Diluted Earnings Per Share -$0.51 -$0.41 $4.83
COMMON SHARES
Basic Shares Outstanding 41.15M 41.11M 26.29M
Diluted Shares Outstanding 41.03M 40.96M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $263.5M $277.9M $88.20M
YoY Change 368.0% 360.56% -2.3%
Cash & Equivalents $73.85M $125.7M $88.20M
Short-Term Investments $189.6M $152.2M $0.00
Other Short-Term Assets $5.100M $5.300M $2.200M
YoY Change 82.14% 35.34% -9.02%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $268.6M $283.2M $89.64M
YoY Change 354.46% 340.7% -3.3%
LONG-TERM ASSETS
Property, Plant & Equipment $806.0K $867.0K $890.0K
YoY Change 725.71% 256.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.614M $3.406M $2.323M
YoY Change 1846.29% 1227.43%
Total Long-Term Assets $5.435M $5.326M $2.323M
YoY Change 1199.02% 144.53%
TOTAL ASSETS
Total Short-Term Assets $268.6M $283.2M $89.64M
Total Long-Term Assets $5.435M $5.326M $2.323M
Total Assets $274.0M $288.5M $91.96M
YoY Change 363.66% 346.14% -1.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.493M $2.843M $149.0K
YoY Change 94.65% 150.48% -93.69%
Accrued Expenses $10.60M $6.600M $1.681M
YoY Change 908.56% 283.28% -63.49%
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 $12.08M $9.147M $1.830M
YoY Change 564.41% 177.01% -74.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $214.0K $360.0K $659.0K
YoY Change 62.32%
Total Long-Term Liabilities $214.0K $360.0K $659.0K
YoY Change 62.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.08M $9.147M $1.830M
Total Long-Term Liabilities $214.0K $360.0K $659.0K
Total Liabilities $12.29M $9.507M $1.830M
YoY Change 576.18% 187.92% -75.97%
SHAREHOLDERS EQUITY
Retained Earnings -$135.1M -$114.3M -$146.0M
YoY Change -24.19% -34.16% -1.01%
Common Stock $41.00K $41.00K $27.00K
YoY Change 51.85% 51.85% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $261.7M $279.0M $90.13M
YoY Change
Total Liabilities & Shareholders Equity $274.0M $288.5M $91.96M
YoY Change 363.66% 346.14% -1.8%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income -$20.77M -$16.72M $32.19M
YoY Change 350.62% 46.05% -324.81%
Depreciation, Depletion And Amortization $79.00K $74.00K $0.00
YoY Change -24.04% -84.68% -100.0%
Cash From Operating Activities -$15.90M -$12.05M -$1.880M
YoY Change 278.48% -2.25% -84.94%
INVESTING ACTIVITIES
Capital Expenditures $20.00K $90.00K $0.00
YoY Change -195.24% -143.48%
Acquisitions
YoY Change
Other Investing Activities -$35.53M -$151.4M $41.82M
YoY Change -253.78% -2435.8% -388.59%
Cash From Investing Activities -$35.55M -$151.5M $41.82M
YoY Change -254.0% -2514.28% -388.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -420.0K -2.820M -1.230M
YoY Change 12200.0%
NET CHANGE
Cash From Operating Activities -15.90M -12.05M -1.880M
Cash From Investing Activities -35.55M -151.5M 41.82M
Cash From Financing Activities -420.0K -2.820M -1.230M
Net Change In Cash -51.87M -166.4M 38.71M
YoY Change -374.69% 2649.79% -243.44%
FREE CASH FLOW
Cash From Operating Activities -$15.90M -$12.05M -$1.880M
Capital Expenditures $20.00K $90.00K $0.00
Free Cash Flow -$15.92M -$12.14M -$1.880M
YoY Change 280.86% 0.17% -84.94%

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EarningsPerShareBasic
-2.86
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.87
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.87
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5772062
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21642916

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