2023 Q4 Form 10-Q Financial Statement
#000095017023061578 Filed on November 09, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
Revenue | $1.676M | $1.563M |
YoY Change | 110.45% | 87.82% |
Cost Of Revenue | $59.02K | $30.00K |
YoY Change | -68.95% | -66.58% |
Gross Profit | $1.617M | $1.530M |
YoY Change | 166.7% | 106.11% |
Gross Profit Margin | 96.48% | 97.9% |
Selling, General & Admin | $3.482M | $3.131M |
YoY Change | 52.14% | 19.77% |
% of Gross Profit | 215.36% | 204.67% |
Research & Development | $22.56K | $0.00 |
YoY Change | -17.09% | -100.0% |
% of Gross Profit | 1.4% | 0.0% |
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $3.505M | $3.166M |
YoY Change | 51.33% | 15.36% |
Operating Profit | -$1.888M | -$1.603M |
YoY Change | 10.42% | -16.16% |
Interest Expense | -$99.49K | $126.0K |
YoY Change | 6.47% | 0.0% |
% of Operating Profit | ||
Other Income/Expense, Net | -$90.47K | |
YoY Change | -10.7% | |
Pretax Income | -$1.987M | -$1.690M |
YoY Change | 10.21% | -16.08% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$1.987M | -$1.694M |
YoY Change | 10.21% | -15.89% |
Net Earnings / Revenue | -118.58% | -108.39% |
Basic Earnings Per Share | -$0.51 | |
Diluted Earnings Per Share | -$0.59 | -$0.51 |
COMMON SHARES | ||
Basic Shares Outstanding | 3.343M | 3.343M |
Diluted Shares Outstanding | 3.343M |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $4.739M | $5.960M |
YoY Change | -51.85% | -51.74% |
Cash & Equivalents | $4.700M | $6.000M |
Short-Term Investments | ||
Other Short-Term Assets | $47.53K | $98.09K |
YoY Change | 311.5% | 749.23% |
Inventory | $481.8K | $504.9K |
Prepaid Expenses | $885.0K | $37.86K |
Receivables | $673.1K | $1.230M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $6.827M | $7.840M |
YoY Change | -41.76% | -40.86% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $0.00 | $10.00K |
YoY Change | -100.0% | -93.49% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $241.6K | |
YoY Change | ||
Total Long-Term Assets | $241.6K | $13.37K |
YoY Change | 87.21% | -91.3% |
TOTAL ASSETS | ||
Total Short-Term Assets | $6.827M | $7.840M |
Total Long-Term Assets | $241.6K | $13.37K |
Total Assets | $7.069M | $7.853M |
YoY Change | -40.36% | -41.44% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.712M | $1.400M |
YoY Change | 83.21% | 37.16% |
Accrued Expenses | $1.324M | $840.0K |
YoY Change | 83.83% | -2.02% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $3.036M | $2.240M |
YoY Change | 83.48% | 19.3% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $5.000M | $5.000M |
YoY Change | 0.0% | 0.0% |
Other Long-Term Liabilities | $1.612M | $1.490M |
YoY Change | 44.95% | 49.05% |
Total Long-Term Liabilities | $6.612M | $6.486M |
YoY Change | 8.18% | 8.11% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.036M | $2.240M |
Total Long-Term Liabilities | $6.612M | $6.486M |
Total Liabilities | $9.648M | $8.727M |
YoY Change | 24.22% | 10.78% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$123.4M | -$121.5M |
YoY Change | 6.74% | 6.68% |
Common Stock | $120.9M | $120.6M |
YoY Change | 0.94% | 1.01% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$2.580M | -$873.8K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $7.069M | $7.853M |
YoY Change | -40.36% | -41.44% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$1.987M | -$1.694M |
YoY Change | 10.21% | -15.89% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$1.106M | -$1.040M |
YoY Change | -55.87% | -5.53% |
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 | -119.3K | 0.000 |
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -1.106M | -1.040M |
Cash From Investing Activities | ||
Cash From Financing Activities | -119.3K | 0.000 |
Net Change In Cash | -1.225M | -1.040M |
YoY Change | -51.11% | -5.53% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.106M | -$1.040M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
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|
-1693907 | |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-873775 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3555094 | |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
381061 | |
CY2022Q1 | evok |
Payment Of At Market Offering Costs
PaymentOfAtMarketOfferingCosts
|
3548 | |
CY2022Q1 | evok |
Issuance Of Common Stock From At The Market Offerings Value
IssuanceOfCommonStockFromAtTheMarketOfferingsValue
|
171521 | |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2173665 | |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1934011 | |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
366924 | |
CY2022Q2 | evok |
Payment Of At Market Offering Costs
PaymentOfAtMarketOfferingCosts
|
145445 | |
CY2022Q2 | evok |
Issuance Of Common Stock From At The Market Offerings Value
IssuanceOfCommonStockFromAtTheMarketOfferingsValue
|
7123455 | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2233380 | |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7191010 | |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
355752 | |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2013864 | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5532898 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5804894 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-6420909 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
846470 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1103737 | ||
evok |
Non Cash Lease Expense
NonCashLeaseExpense
|
115704 | ||
evok |
Non Cash Lease Expense
NonCashLeaseExpense
|
12428 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
609072 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
379777 | ||
evok |
Increase Decrease In Prepaid Deferred Expense Inventory And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseInventoryAndOtherAssets
|
-613009 | ||
evok |
Increase Decrease In Prepaid Deferred Expense Inventory And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseInventoryAndOtherAssets
|
-888976 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
463130 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
146662 | ||
evok |
Accrued Compensation
AccruedCompensation
|
-238511 | ||
evok |
Accrued Compensation
AccruedCompensation
|
-197676 | ||
evok |
Accrued Interest Expense
AccruedInterestExpense
|
373973 | ||
evok |
Accrued Interest Expense
AccruedInterestExpense
|
373973 | ||
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-115704 | ||
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-12428 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3878873 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4089662 | ||
evok |
Proceeds From Issuance Of Common Stock At Market Offering
ProceedsFromIssuanceOfCommonStockAtMarketOffering
|
7443969 | ||
evok |
Payment Of Common Stock Offering Cost At Market Offering
PaymentOfCommonStockOfferingCostAtMarketOffering
|
148993 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7294976 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-3878873 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
3205314 | ||
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9843699 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9144710 | |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5964826 | |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12350024 | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
153671 | ||
evok |
Entity Incorporation Month And Year Of Incorporation
EntityIncorporationMonthAndYearOfIncorporation
|
2007-01 | ||
CY2023Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6000000 | |
CY2022Q2 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-12 reverse stock split | |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2100000 | |
CY2023Q2 | evok |
Minimum Market Value Of Listed Securities
MinimumMarketValueOfListedSecurities
|
2500000 | |
CY2022Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
239000 | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p> | ||
CY2023Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | |
CY2023Q3 | evok |
Bad Debt Expense
BadDebtExpense
|
0 | |
CY2022Q3 | evok |
Bad Debt Expense
BadDebtExpense
|
0 | |
evok |
Bad Debt Expense
BadDebtExpense
|
0 | ||
evok |
Bad Debt Expense
BadDebtExpense
|
0 | ||
CY2023Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
361000 | |
CY2023Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
144000 | |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
50000 | |
CY2023Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
639601 | |
CY2022Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
491851 | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
639601 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
491851 | ||
us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2023-10-31 | ||
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
13371 | |
CY2023Q3 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P0Y29D | |
CY2023Q3 | us-gaap |
Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
|
0.10 | |
CY2023Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
40112 | |
CY2022Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
37281 | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
120335 | ||
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
111843 | ||
CY2007Q2 | evok |
Research And Developments In Process
ResearchAndDevelopmentsInProcess
|
650000 | |
evok |
Class Of Warrant Or Right Number Of Securities Expired
ClassOfWarrantOrRightNumberOfSecuritiesExpired
|
139972 | ||
CY2023Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
0 | |
CY2023Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
281758 | |
CY2022Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
355752 | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
846470 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1103737 | ||
CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1300000 | |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P0Y9M29D |