$EMED
Electromedical Technologies, Inc

2023 Q4 Form 10-Q Financial Statement

#000141057823002548 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $351.6K $323.6K
YoY Change -16.91% 15.76%
Cost Of Revenue $80.65K $72.44K
YoY Change -10.61% 24.87%
Gross Profit $271.0K $251.2K
YoY Change -18.62% 13.38%
Gross Profit Margin 77.06% 77.62%
Selling, General & Admin $493.9K $490.2K
YoY Change -15.54% -12.29%
% of Gross Profit 182.29% 195.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0% -100.0%
% of Gross Profit 0.0% 0.0%
Operating Expenses $493.9K $490.2K
YoY Change -16.32% -12.29%
Operating Profit -$223.0K -$239.0K
YoY Change -13.35% -29.15%
Interest Expense -$115.1K $162.1K
YoY Change -59.0% 0.97%
% of Operating Profit
Other Income/Expense, Net -$19.00K -$137.7K
YoY Change -77.81%
Pretax Income -$348.7K -$376.7K
YoY Change -58.0% -60.67%
Income Tax
% Of Pretax Income
Net Earnings -$348.7K -$376.7K
YoY Change -59.21% -60.67%
Net Earnings / Revenue -99.16% -116.41%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 463.1M 471.5M
Diluted Shares Outstanding 466.2M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.70K $138.5K
YoY Change -76.2% -69.82%
Cash & Equivalents $87.70K $138.5K
Short-Term Investments
Other Short-Term Assets $288.6K $264.0K
YoY Change 38.82% 160.92%
Inventory $68.52K $131.3K
Prepaid Expenses
Receivables $4.399K $9.200K
Other Receivables $0.00 $0.00
Total Short-Term Assets $449.2K $543.0K
YoY Change -30.66% -21.8%
LONG-TERM ASSETS
Property, Plant & Equipment $149.7K $149.7K
YoY Change -78.78% -78.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $299.2K $310.4K
YoY Change -57.59% -56.34%
TOTAL ASSETS
Total Short-Term Assets $449.2K $543.0K
Total Long-Term Assets $299.2K $310.4K
Total Assets $748.4K $853.4K
YoY Change -44.7% -39.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $239.5K $277.7K
YoY Change -10.22% 0.23%
Accrued Expenses $38.47K $786.7K
YoY Change -80.16% 9.62%
Deferred Revenue $197.3K $130.1K
YoY Change -9.31% 403.48%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.394M $1.394M
YoY Change 4.25% -1.54%
Total Short-Term Liabilities $3.357M $3.091M
YoY Change 14.79% 24.68%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $150.0K
YoY Change -76.55% -76.96%
Other Long-Term Liabilities $8.416K $9.174K
YoY Change -17.76% -16.94%
Total Long-Term Liabilities $8.416K $9.174K
YoY Change -17.76% -16.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.357M $3.091M
Total Long-Term Liabilities $8.416K $9.174K
Total Liabilities $3.621M $3.369M
YoY Change 1.32% 7.27%
SHAREHOLDERS EQUITY
Retained Earnings -$27.47M -$27.12M
YoY Change 10.65% 13.14%
Common Stock $4.631K $4.713K
YoY Change 144.25% 198.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.873M -$2.516M
YoY Change
Total Liabilities & Shareholders Equity $748.4K $853.4K
YoY Change -44.7% -39.27%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$348.7K -$376.7K
YoY Change -59.21% -60.67%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Operating Activities -$50.94K -$277.8K
YoY Change 53.9% -14.39%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 180.0 0.000
YoY Change -100.31% -100.0%
NET CHANGE
Cash From Operating Activities -50.94K -277.8K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 180.0 0.000
Net Change In Cash -50.76K -277.8K
YoY Change -43.91% -170.56%
FREE CASH FLOW
Cash From Operating Activities -$50.94K -$277.8K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$50.94K -$277.8K
YoY Change

Facts In Submission

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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
63192
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10970
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
62300
elcq Increase Decrease In Credit Card Payables
IncreaseDecreaseInCreditCardPayables
-10503
elcq Increase Decrease In Credit Card Payables
IncreaseDecreaseInCreditCardPayables
31748
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
547319
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
70171
elcq Increase Decrease In Customer Deposits Operating Activities
IncreaseDecreaseInCustomerDepositsOperatingActivities
-87488
elcq Increase Decrease In Customer Deposits Operating Activities
IncreaseDecreaseInCustomerDepositsOperatingActivities
25840
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
1878
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1366445
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-740238
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
149705
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1894588
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1744883
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
522401
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
20700
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-57875
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1545140
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
85985
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
693348
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
42766
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-608386
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
815983
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-229948
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
75745
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
368425
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
383170
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
138477
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
458915
us-gaap Interest Paid Net
InterestPaidNet
36901
us-gaap Interest Paid Net
InterestPaidNet
89079
elcq Adoption Of Accounting Standard
AdoptionOfAccountingStandard
379355
elcq Warrants And Common Stock Feature Issued In Conjunction With Convertible Promissory Note
WarrantsAndCommonStockFeatureIssuedInConjunctionWithConvertiblePromissoryNote
653774
elcq Settlement Of Stock Based Compensation Liabilities
SettlementOfStockBasedCompensationLiabilities
719000
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
300034
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
823370
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
164408
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>
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
27837533
elcq Adjustments To Additional Paid In Capital Warrants Reset
AdjustmentsToAdditionalPaidInCapitalWarrantsReset
3461
elcq Commitment For Product Development
CommitmentForProductDevelopment
300000
elcq Accumulated Net Loss
AccumulatedNetLoss
23400000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1366445
elcq Working Capital Deficit
WorkingCapitalDeficit
2547831
elcq Right Of Return Period
RightOfReturnPeriod
P30D
elcq Sales Returns Allowance
SalesReturnsAllowance
6990
CY2022 elcq Sales Returns Allowance
SalesReturnsAllowance
6990
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
130100
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
217588
elcq Initial Warranty Period
InitialWarrantyPeriod
P3Y
CY2023Q3 us-gaap Deferred Income
DeferredIncome
21428
CY2022Q4 us-gaap Deferred Income
DeferredIncome
23313
CY2023Q3 us-gaap Receivables From Customers
ReceivablesFromCustomers
12542
CY2022Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
13342
CY2023Q3 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
0
CY2022Q4 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
0
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
60100
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
73385
elcq Amount For Commitment For Product Development Paid
AmountForCommitmentForProductDevelopmentPaid
150000
elcq Expected Milestone Term
ExpectedMilestoneTerm
P12M
CY2023Q3 elcq Lessee Operating Lease Base Rent Per Month
LesseeOperatingLeaseBaseRentPerMonth
5280
CY2023Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.124
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
491846
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
80122
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
63889
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
475613
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
475613
CY2023Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
475613
CY2023Q3 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
us-gaap Operating Lease Cost
OperatingLeaseCost
5412
CY2023Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0
CY2023Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
5000
us-gaap Loss Contingency Number Of Plaintiffs
LossContingencyNumberOfPlaintiffs
3
CY2023Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
5000
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
16367
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12679
us-gaap Variable Lease Cost
VariableLeaseCost
0
elcq Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Outstanding Warrants Stock Options And Convertible Promissory Notes
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfOutstandingWarrantsStockOptionsAndConvertiblePromissoryNotes
2218267621
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174692
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
899987
CY2023Q3 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
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
149705
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
705469
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1193676
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5469
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4557
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16406
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1393601
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1680774
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
375865
CY2023Q3 us-gaap Notes Payable
NotesPayable
1393601
CY2022Q4 us-gaap Notes Payable
NotesPayable
1304909
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1393601
CY2023Q3 us-gaap Notes Payable
NotesPayable
1393601
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
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
491846
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
80122
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
63889
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
475613
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
173000000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
263476
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
176838431

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