$EMED
Electromedical Technologies, Inc

2024 Q3 Form 10-Q Financial Statement

#000141057824001410 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $42.53K $237.6K
YoY Change -86.86% -19.43%
Cost Of Revenue $11.88K $64.39K
YoY Change -83.6% 2.99%
Gross Profit $30.65K $173.3K
YoY Change -87.8% -25.46%
Gross Profit Margin 72.06% 72.9%
Selling, General & Admin $411.7K $425.1K
YoY Change -16.02% -25.92%
% of Gross Profit 1343.39% 245.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit 0.0% 0.0%
Operating Expenses $411.7K $425.1K
YoY Change -16.02% -25.92%
Operating Profit -$381.0K -$251.8K
YoY Change 59.41% -26.23%
Interest Expense $58.30K
YoY Change -79.51%
% of Operating Profit
Other Income/Expense, Net -$343.6K $483.1K
YoY Change 149.55% -143.19%
Pretax Income $231.2K
YoY Change -115.84%
Income Tax
% Of Pretax Income
Net Earnings -$724.6K $231.2K
YoY Change 92.36% -115.84%
Net Earnings / Revenue -1704.0% 97.3%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 623.9M 507.3M
Diluted Shares Outstanding 1.944B

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.9K
YoY Change -71.91%
Cash & Equivalents $34.81K $116.9K
Short-Term Investments
Other Short-Term Assets $236.3K
YoY Change -27.7%
Inventory $24.26K $31.68K
Prepaid Expenses
Receivables $7.251K $4.338K
Other Receivables $0.00
Total Short-Term Assets $305.4K $389.2K
YoY Change -43.76% -55.87%
LONG-TERM ASSETS
Property, Plant & Equipment $149.7K $149.7K
YoY Change 0.0% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $263.5K $275.7K
YoY Change -15.12% 84.19%
TOTAL ASSETS
Total Short-Term Assets $305.4K $389.2K
Total Long-Term Assets $263.5K $275.7K
Total Assets $568.8K $665.0K
YoY Change -33.35% -35.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $225.8K $240.4K
YoY Change -18.69% -10.81%
Accrued Expenses $612.4K
YoY Change -7.71%
Deferred Revenue $764.1K $438.2K
YoY Change 487.34% 84.38%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.539M
YoY Change 8.94%
Total Short-Term Liabilities $4.356M $3.831M
YoY Change 40.93% 21.48%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K
YoY Change 0.0%
Other Long-Term Liabilities $3.399K $4.982K
YoY Change -62.95% -50.17%
Total Long-Term Liabilities $3.399K $4.982K
YoY Change -62.95% -50.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.356M $3.831M
Total Long-Term Liabilities $3.399K $4.982K
Total Liabilities $4.574M $4.065M
YoY Change 35.74% 22.67%
SHAREHOLDERS EQUITY
Retained Earnings -$28.80M -$28.07M
YoY Change 6.19% 4.97%
Common Stock $7.252K $5.659K
YoY Change 53.87% 30.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.005M -$3.400M
YoY Change
Total Liabilities & Shareholders Equity $568.8K $665.0K
YoY Change -33.35% -35.55%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$724.6K $231.2K
YoY Change 92.36% -115.84%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities $108.9K
YoY Change -117.13%
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.84K
YoY Change 113.76%
NET CHANGE
Cash From Operating Activities 108.9K
Cash From Investing Activities
Cash From Financing Activities -70.84K
Net Change In Cash 38.09K
YoY Change -104.65%
FREE CASH FLOW
Cash From Operating Activities $108.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
522401
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
130000
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
51339
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
85985
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
78661
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-608386
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
29227
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
47831
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87704
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
368425
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
116931
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
416256
us-gaap Interest Paid Net
InterestPaidNet
11642
us-gaap Interest Paid Net
InterestPaidNet
31574
elcq Settlement Of Stock Based Compensation Liabilities
SettlementOfStockBasedCompensationLiabilities
719000
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
77880
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
260691
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;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>
elcq Accumulated Net Loss
AccumulatedNetLoss
24300000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-49434
elcq Working Capital Deficit
WorkingCapitalDeficit
3441979
elcq Right Of Return Period
RightOfReturnPeriod
P30D
elcq Sales Returns Allowance
SalesReturnsAllowance
6990
CY2023 elcq Sales Returns Allowance
SalesReturnsAllowance
6990
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
438183
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
197325
elcq Initial Warranty Period
InitialWarrantyPeriod
P3Y
CY2024Q2 us-gaap Deferred Income
DeferredIncome
15028
CY2023Q4 us-gaap Deferred Income
DeferredIncome
20787
CY2024Q2 us-gaap Receivables From Customers
ReceivablesFromCustomers
2247
CY2023Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
12442
CY2024Q2 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
39
CY2023Q4 us-gaap Due From Customer Acceptances
DueFromCustomerAcceptances
594
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
135100
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
70950
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
532334
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
165917
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
63723
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
338935
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
973463
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
973463
CY2024Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
973463
CY2024Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
61000
CY2023Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
61000
CY2024Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
14908
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
16642
us-gaap Variable Lease Cost
VariableLeaseCost
0
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1376914902
elcq Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Outstanding Warrants Stock Options And Convertible Promissory Notes
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfOutstandingWarrantsStockOptionsAndConvertiblePromissoryNotes
1594098798
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1999000000
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
566111930
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174692
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174692
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24987
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24987
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
149705
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
149705
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1193676
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4557
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1552613
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1393601
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
13783
CY2024Q2 us-gaap Notes Payable
NotesPayable
1538830
CY2023Q4 us-gaap Notes Payable
NotesPayable
1393601
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1552613
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
13783
CY2024Q2 us-gaap Notes Payable
NotesPayable
1538830
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1393601
CY2023Q4 us-gaap Notes Payable
NotesPayable
1393601
CY2024Q1 elcq Accrued Interest On Debt
AccruedInterestOnDebt
165734
CY2024Q2 elcq Accrued Interest On Debt
AccruedInterestOnDebt
165734
CY2024Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2025-09-25
CY2024Q2 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2025-09-25
CY2024Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.12
CY2024Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.12
CY2024Q2 elcq Debt Default Penalty Amount
DebtDefaultPenaltyAmount
82000
elcq Debt Default Penalty Amount
DebtDefaultPenaltyAmount
334000
CY2024Q1 elcq Debt Conversion Original Debt Principal Amount
DebtConversionOriginalDebtPrincipalAmount
30000
CY2024Q2 elcq Debt Conversion Original Debt Principal Amount
DebtConversionOriginalDebtPrincipalAmount
30000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
165917
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
532334
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
165917
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
63723
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
338935
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
973463
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
CY2024Q1 elcq Number Of Outstanding Warrants Cancelled
NumberOfOutstandingWarrantsCancelled
160500000
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
16167533
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
176838431
elcq Commitment For Product Development
CommitmentForProductDevelopment
300000
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
CY2024Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.124
us-gaap Operating Lease Cost
OperatingLeaseCost
16236
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
16236
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
66243
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
68231
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17183
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
151657
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20095
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
131562
CY2024Q2 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0
CY2024Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
5000

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