$EMED
Electromedical Technologies, Inc

2022 Q1 Form 10-Q Financial Statement

#000141057822001612 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $221.9K $166.4K
YoY Change 33.32% -22.54%
Cost Of Revenue $67.64K $41.95K
YoY Change 61.24% -34.97%
Gross Profit $154.3K $124.8K
YoY Change 23.55% -16.97%
Gross Profit Margin 69.52% 75.01%
Selling, General & Admin $879.8K $1.689M
YoY Change -47.92% 187.24%
% of Gross Profit 570.37% 1353.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.469K $5.469K
YoY Change 0.0% -0.02%
% of Gross Profit 3.55% 4.38%
Operating Expenses $879.8K $1.689M
YoY Change -47.92% 187.24%
Operating Profit -$725.6K -$1.565M
YoY Change -53.62% 257.37%
Interest Expense $213.4K $1.060M
YoY Change -79.88% -7192.32%
% of Operating Profit
Other Income/Expense, Net -$419.0K -$995.9K
YoY Change -57.93% -66490.0%
Pretax Income -$1.145M -$2.560M
YoY Change -55.3% 467.41%
Income Tax
% Of Pretax Income
Net Earnings -$1.145M -$2.560M
YoY Change -55.3% 467.41%
Net Earnings / Revenue -515.8% -1538.32%
Basic Earnings Per Share -$0.01 -$0.11
Diluted Earnings Per Share -$0.01 -$0.11
COMMON SHARES
Basic Shares Outstanding 97.26M 28.56M
Diluted Shares Outstanding 97.26M 28.56M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $170.1K $580.8K
YoY Change -70.72% 1393.75%
Cash & Equivalents $170.0K $580.8K
Short-Term Investments
Other Short-Term Assets $24.93K $123.9K
YoY Change -79.87% 136.57%
Inventory $196.9K $208.5K
Prepaid Expenses
Receivables $31.79K $21.87K
Other Receivables $0.00 $0.00
Total Short-Term Assets $423.7K $935.0K
YoY Change -54.69% 588.27%
LONG-TERM ASSETS
Property, Plant & Equipment $721.9K $743.8K
YoY Change -2.94% -2.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.60K
YoY Change -53.71%
Total Long-Term Assets $721.9K $757.4K
YoY Change -4.68% -4.74%
TOTAL ASSETS
Total Short-Term Assets $423.7K $935.0K
Total Long-Term Assets $721.9K $757.4K
Total Assets $1.146M $1.692M
YoY Change -32.31% 81.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $274.3K $236.0K
YoY Change 16.22% -22.45%
Accrued Expenses $539.2K $199.3K
YoY Change 170.57% -32.95%
Deferred Revenue $21.85K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.320M $714.0K
YoY Change 84.88% -59.47%
Total Short-Term Liabilities $2.170M $2.762M
YoY Change -21.42% 10.54%
LONG-TERM LIABILITIES
Long-Term Debt $665.4K $695.6K
YoY Change -4.34% -6.41%
Other Long-Term Liabilities $9.204K $15.34K
YoY Change -40.0% -31.79%
Total Long-Term Liabilities $9.204K $710.9K
YoY Change -98.71% -7.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.170M $2.762M
Total Long-Term Liabilities $9.204K $710.9K
Total Liabilities $2.845M $3.472M
YoY Change -18.08% 6.39%
SHAREHOLDERS EQUITY
Retained Earnings -$22.46M
YoY Change
Common Stock $1.048K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.699M -$1.780M
YoY Change
Total Liabilities & Shareholders Equity $1.146M $1.692M
YoY Change -32.31% 81.81%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.145M -$2.560M
YoY Change -55.3% 467.41%
Depreciation, Depletion And Amortization $5.469K $5.469K
YoY Change 0.0% -0.02%
Cash From Operating Activities -$317.8K -$327.2K
YoY Change -2.87% -46848.14%
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 $42.77K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 104.7K 643.1K
YoY Change -83.72% 1584.38%
NET CHANGE
Cash From Operating Activities -317.8K -327.2K
Cash From Investing Activities
Cash From Financing Activities 104.7K 643.1K
Net Change In Cash -213.1K 315.9K
YoY Change -167.47% 712.4%
FREE CASH FLOW
Cash From Operating Activities -$317.8K -$327.2K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-line:underline;text-decoration-style:solid;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, certain disclosures at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Significant estimates affecting the financial statements have been prepared on the basis of the most current and best available information. However, actual results from the resolution of such estimates and assumptions may vary from those used in the preparation of the financial statements.</p>
CY2022Q1 elcq Accumulated Net Loss
AccumulatedNetLoss
18700000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-317845
CY2022Q1 elcq Working Capital Deficit
WorkingCapitalDeficit
1746298
CY2022Q1 elcq Sales Returns Allowance
SalesReturnsAllowance
6990
CY2021 elcq Sales Returns Allowance
SalesReturnsAllowance
6990
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
21850
CY2021Q4 us-gaap Deferred Income
DeferredIncome
28252
CY2022Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
14110
CY2021Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
13300
CY2022Q1 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
0
CY2021Q4 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
0
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
21850
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
0
CY2022Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
61000
CY2021Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
61000
CY2022Q1 elcq Standard Warranty Period
StandardWarrantyPeriod
P3Y
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
13969
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
14828
CY2022Q1 elcq Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Outstanding Warrants Stock Options And Convertible Promissory Notes
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfOutstandingWarrantsStockOptionsAndConvertiblePromissoryNotes
89500000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
899987
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
899987
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
178112
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
172643
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
721875
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
727344
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5469
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5469
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
158875
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1534853
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
723166
CY2022Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
57875
CY2022Q1 elcq Interest Income Expense Related Party Net
InterestIncomeExpenseRelatedPartyNet
78
CY2021Q1 elcq Interest Income Expense Related Party Net
InterestIncomeExpenseRelatedPartyNet
2837
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1782353
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1534853
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
492877
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
723166
CY2022Q1 us-gaap Notes Payable
NotesPayable
1289476
CY2021Q4 us-gaap Notes Payable
NotesPayable
811687
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1782353
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
492877
CY2022Q1 us-gaap Notes Payable
NotesPayable
1289476
CY2021Q4 us-gaap Notes Payable
NotesPayable
811687
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
17801833
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
18468499
CY2022Q1 elcq Reduction To Retained Earnings And Increase In Additional Paid In Capital
ReductionToRetainedEarningsAndIncreaseInAdditionalPaidInCapital
63381
CY2021Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
1084120
CY2021Q1 elcq Stock Issued During Period Value Conversion Of Convertible Note And Notes Payable
StockIssuedDuringPeriodValueConversionOfConvertibleNoteAndNotesPayable
693837
CY2021Q1 elcq Stock Issued During Period Value Per Share Issued For Services
StockIssuedDuringPeriodValuePerShareIssuedForServices
0.64
CY2022Q1 elcq Cashless Warrants Exercised
CashlessWarrantsExercised
6666666
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.025
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.025
CY2022Q1 elcq Cashless Warrants Exercised
CashlessWarrantsExercised
5129725
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
50000000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4703
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
6000000
CY2022Q1 elcq Warrants Issued
WarrantsIssued
3000000
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.025
CY2022Q1 elcq Commitment For Product Development
CommitmentForProductDevelopment
525000
CY2022Q1 elcq Amount For Commitment For Product Development Paid
AmountForCommitmentForProductDevelopmentPaid
170000

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