$EMED
Electromedical Technologies, Inc

2023 Q2 Form 10-Q Financial Statement

#000141057823001112 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $295.0K $378.6K
YoY Change 30.94% 70.64%
Cost Of Revenue $62.52K $87.70K
YoY Change 37.9% 29.65%
Gross Profit $232.4K $291.0K
YoY Change 29.19% 88.62%
Gross Profit Margin 78.8% 76.84%
Selling, General & Admin $573.8K $1.552M
YoY Change 23.89% 76.46%
% of Gross Profit 246.88% 533.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $4.557K
YoY Change -100.0% -16.68%
% of Gross Profit 0.0% 1.57%
Operating Expenses $573.8K $1.552M
YoY Change 23.89% 76.46%
Operating Profit -$341.4K -$1.262M
YoY Change 20.53% 73.87%
Interest Expense $284.5K $388.2K
YoY Change 108.46% 81.93%
% of Operating Profit
Other Income/Expense, Net -$1.118M $805.5K
YoY Change 342.64% -292.25%
Pretax Income -$1.460M -$456.1K
YoY Change 172.39% -60.15%
Income Tax
% Of Pretax Income
Net Earnings -$1.460M -$456.1K
YoY Change 172.39% -60.15%
Net Earnings / Revenue -494.93% -120.45%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 309.7M 240.6M
Diluted Shares Outstanding 335.0M 240.6M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $416.3K $1.235M
YoY Change 538.14% 626.27%
Cash & Equivalents $416.3K $1.235M
Short-Term Investments
Other Short-Term Assets $326.8K $170.2K
YoY Change 986.44% 582.71%
Inventory $113.2K $159.7K
Prepaid Expenses
Receivables $25.79K $5.826K
Other Receivables $0.00 $0.00
Total Short-Term Assets $882.0K $1.571M
YoY Change 212.6% 270.73%
LONG-TERM ASSETS
Property, Plant & Equipment $149.7K $0.00
YoY Change -79.1% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $149.7K $0.00
YoY Change -79.1% -100.0%
TOTAL ASSETS
Total Short-Term Assets $882.0K $1.571M
Total Long-Term Assets $149.7K $0.00
Total Assets $1.032M $1.571M
YoY Change 3.32% 37.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $269.5K $543.6K
YoY Change -4.14% 98.23%
Accrued Expenses $663.6K $365.6K
YoY Change 171.82% -32.2%
Deferred Revenue $237.7K $134.0K
YoY Change 161.59% 513.27%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.413M $1.365M
YoY Change 43.25% 3.43%
Total Short-Term Liabilities $3.154M $2.443M
YoY Change 91.91% 12.58%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $150.0K
YoY Change -77.23% -77.46%
Other Long-Term Liabilities $9.998K $10.60K
YoY Change -1.67% 15.17%
Total Long-Term Liabilities $9.998K $10.60K
YoY Change -1.67% 15.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.154M $2.443M
Total Long-Term Liabilities $9.998K $10.60K
Total Liabilities $3.314M $2.604M
YoY Change 43.31% -8.47%
SHAREHOLDERS EQUITY
Retained Earnings -$26.74M -$25.28M
YoY Change 16.32% 12.58%
Common Stock $4.323K $2.967K
YoY Change 204.44% 183.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.282M -$1.033M
YoY Change
Total Liabilities & Shareholders Equity $1.032M $1.571M
YoY Change 3.32% 37.12%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$1.460M -$456.1K
YoY Change 172.39% -60.15%
Depreciation, Depletion And Amortization $0.00 $4.557K
YoY Change -100.0% -16.68%
Cash From Operating Activities -$635.9K -$452.7K
YoY Change 549.44% 42.44%
INVESTING ACTIVITIES
Capital Expenditures $149.7K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.895M
YoY Change
Cash From Investing Activities -$149.7K $1.895M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.00K
YoY Change -71.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.14K -575.3K
YoY Change 380.29% -649.31%
NET CHANGE
Cash From Operating Activities -635.9K -452.7K
Cash From Investing Activities -149.7K 1.895M
Cash From Financing Activities -33.14K -575.3K
Net Change In Cash -818.8K 866.6K
YoY Change 681.13% -506.62%
FREE CASH FLOW
Cash From Operating Activities -$635.9K -$452.7K
Capital Expenditures $149.7K
Free Cash Flow -$785.6K
YoY Change

Facts In Submission

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<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>
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23313
CY2023Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
12642
CY2022Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
13342
CY2023Q1 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
0
CY2022Q4 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
0
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
28750
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
73385
CY2023Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
61000
CY2022Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
61000
CY2023Q1 elcq Standard Warranty Period
StandardWarrantyPeriod
P3Y
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17604
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12678
CY2023Q1 elcq Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Outstanding Warrants Stock Options And Convertible Promissory Notes
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfOutstandingWarrantsStockOptionsAndConvertiblePromissoryNotes
179000000.0
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
24987
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
899987
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24987
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
194518
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
705469
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1193676
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4557
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5469
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1580853
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1680774
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
215660
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
375865
CY2023Q1 us-gaap Notes Payable
NotesPayable
1365193
CY2022Q4 us-gaap Notes Payable
NotesPayable
1304909
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1580853
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
215660
CY2023Q1 us-gaap Notes Payable
NotesPayable
1365193
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1680774
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
375865
CY2022Q4 us-gaap Notes Payable
NotesPayable
1304909
CY2022Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
78753
CY2022Q1 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
46151
CY2023Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
400000
CY2023Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
50000
CY2023Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
5000000
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.01
CY2023Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
2000000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
50000000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4703
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
25000000
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
160000
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
28837533
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
27837533
CY2023Q1 elcq Commitment For Product Development
CommitmentForProductDevelopment
300000
CY2023Q1 elcq Amount For Commitment For Product Development Paid
AmountForCommitmentForProductDevelopmentPaid
150000

Files In Submission

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elcq-20230331_cal.xml Edgar Link unprocessable
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0001410578-23-001112-index.html Edgar Link pending
0001410578-23-001112.txt Edgar Link pending
0001410578-23-001112-xbrl.zip Edgar Link pending
elcq-20230331.xsd Edgar Link pending
elcq-20230331x10q.htm Edgar Link pending
elcq-20230331x10q001.jpg Edgar Link pending
elcq-20230331xex31d1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
elcq-20230331_def.xml Edgar Link unprocessable
elcq-20230331_lab.xml Edgar Link unprocessable
elcq-20230331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
elcq-20230331x10q_htm.xml Edgar Link completed
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