2024 Q4 Form 10-K Financial Statement

#000149315224048103 Filed on November 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024
Revenue $135.6K
YoY Change 23.08%
Cost Of Revenue $323.0K
YoY Change -23.85%
Gross Profit -$8.319K
YoY Change -76.99%
Gross Profit Margin -6.14%
Selling, General & Admin $26.31M
YoY Change 331.55%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $251.9K
YoY Change 90.57%
% of Gross Profit
Operating Expenses $26.31M
YoY Change 331.55%
Operating Profit -$26.32M
YoY Change 329.14%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $4.410K
YoY Change -102.39%
Pretax Income -$26.32M
YoY Change 316.56%
Income Tax
% Of Pretax Income
Net Earnings -$25.88M
YoY Change 327.19%
Net Earnings / Revenue -19090.56%
Basic Earnings Per Share -$1.01
Diluted Earnings Per Share -$1.01
COMMON SHARES
Basic Shares Outstanding 27.18M shares 102.7M shares 25.68M shares
Diluted Shares Outstanding 25.68M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $153.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $460.0K
Prepaid Expenses
Receivables $62.91K
Other Receivables
Total Short-Term Assets $790.8K
YoY Change -61.82%
LONG-TERM ASSETS
Property, Plant & Equipment $357.8K
YoY Change -22.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $52.49M
YoY Change -31.79%
TOTAL ASSETS
Total Short-Term Assets $790.8K
Total Long-Term Assets $52.49M
Total Assets $53.28M
YoY Change -32.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.9K
YoY Change 278.26%
Accrued Expenses $113.0K
YoY Change -13.01%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.685M
YoY Change 74.64%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $113.2K
YoY Change -45.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.685M
Total Long-Term Liabilities $113.2K
Total Liabilities $1.798M
YoY Change 53.23%
SHAREHOLDERS EQUITY
Retained Earnings -$39.40M
YoY Change 191.36%
Common Stock $91.54M
YoY Change 1.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $53.28M
YoY Change -32.58%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024
OPERATING ACTIVITIES
Net Income -$25.88M
YoY Change 327.19%
Depreciation, Depletion And Amortization $251.9K
YoY Change 90.57%
Cash From Operating Activities $30.82K
YoY Change -101.84%
INVESTING ACTIVITIES
Capital Expenditures $146.3K
YoY Change 930.86%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$146.3K
YoY Change 930.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$456.3K
YoY Change -119.07%
NET CHANGE
Cash From Operating Activities $30.82K
Cash From Investing Activities -$146.3K
Cash From Financing Activities -$456.3K
Net Change In Cash -$571.7K
YoY Change -181.19%
FREE CASH FLOW
Cash From Operating Activities $30.82K
Capital Expenditures $146.3K
Free Cash Flow -$115.4K
YoY Change -93.16%

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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
146269 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14189 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-146269 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14189 usd
CY2024 EVOH Payments To Hire Purchase
PaymentsToHirePurchase
6677 usd
CY2023 EVOH Payments To Hire Purchase
PaymentsToHirePurchase
8587 usd
CY2024 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
449576 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2023 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
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CY2023 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
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CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-571700 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
704126 usd
CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
779049 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
152304 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
152985 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
779049 usd
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101779323 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101779323 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-39401857 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13523266 usd
CY2024 us-gaap Profit Loss
ProfitLoss
-26315396 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-6317373 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
30822 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1674395 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zPeKHdwL4PMg" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting periods. Key estimates in the accompanying consolidated financial statements include, among others, revenue recognition, allowances for credit losses and product returns, provisions for obsolete inventory, valuation of long-lived assets and Rights of Use (“ROU”) assets (including lease liabilities), and deferred income tax asset valuation allowances. Actual results could differ materially from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024 us-gaap Fiscal Period
FiscalPeriod
<p id="xdx_843_eus-gaap--FiscalPeriod_z9QRbjwGnGG" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal Year End</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates on a fiscal year basis with the fiscal year ending on August 31.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
62914 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
44130 usd
CY2023Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
440069 usd
CY2024 us-gaap Revenues
Revenues
135557 usd
CY2024Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
10012 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
334917 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
329420 usd
CY2024Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
125130 usd
CY2023Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
138869 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
162189 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
460047 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
630478 usd
CY2024Q3 us-gaap Deposit Assets
DepositAssets
33406 usd
CY2023Q3 us-gaap Deposit Assets
DepositAssets
20777 usd
CY2024Q3 us-gaap Other Receivables
OtherReceivables
81400 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
596730 usd
CY2024Q3 EVOH Deposit Prepayments And Other Receivables
DepositPrepaymentsAndOtherReceivables
114806 usd
CY2023Q3 EVOH Deposit Prepayments And Other Receivables
DepositPrepaymentsAndOtherReceivables
617507 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
891423 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
745154 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
533645 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
281767 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
357778 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
463387 usd
CY2024 us-gaap Depreciation
Depreciation
251878 usd
CY2023 us-gaap Depreciation
Depreciation
132170 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
83147767 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
83147767 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11086369 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6928981 usd
CY2024Q3 EVOH Technologyrelated Intangible Asset Impairment
TechnologyrelatedIntangibleAssetImpairment
20580040 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
51481358 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
76218786 usd
CY2024 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4157388 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4157388 usd
CY2024 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
20580040 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
154854 usd
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
40939 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
113046 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
129949 usd
CY2024Q3 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
95831 usd
CY2023Q3 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
27487 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
363731 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
198375 usd
CY2024 us-gaap Short Term Debt Terms
ShortTermDebtTerms
Amounts due to shareholders are unsecured, with interest of 3% per annum and tenure of 6 months, or mutually agreed between the parties
CY2024Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1202692 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
232095 usd
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
934534 usd
CY2023Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
373822 shares
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
2.50
CY2023 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
500 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25685591 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25685591 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25577734 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25577734 shares
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.21 pure
CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
39400000 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13520000 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
39400000 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
13520000 usd
CY2024Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
39400000 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
13520000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
199647 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
271021 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
99445 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
84879 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
108891 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
198163 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
208336 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
283042 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
99445 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
79016 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29875 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
208336 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 EVOH No Insider Trading Flag
NoInsiderTradingFlag
true

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