2021 Q3 Form 10-Q Financial Statement

#000089109221006478 Filed on September 14, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $12.54M $12.15M
YoY Change 3.23% -20.36%
Cost Of Revenue $6.252M $6.387M
YoY Change -2.11% -10.35%
Gross Profit $6.290M $5.762M
YoY Change 9.16% -29.14%
Gross Profit Margin 50.15% 47.43%
Selling, General & Admin $538.0K $496.0K
YoY Change 8.47% -24.27%
% of Gross Profit 8.55% 8.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.315M $2.425M
YoY Change -4.54% -24.67%
% of Gross Profit 36.8% 42.09%
Operating Expenses $9.105M $9.308M
YoY Change -2.18% 168.94%
Operating Profit $3.437M $2.841M
YoY Change 20.98% -39.16%
Interest Expense $3.050M $3.121M
YoY Change -2.27% -30.58%
% of Operating Profit 88.74% 109.86%
Other Income/Expense, Net
YoY Change
Pretax Income $7.177M $6.920M
YoY Change 3.71% -18.59%
Income Tax
% Of Pretax Income
Net Earnings $209.0K -$181.0K
YoY Change -215.47% -190.95%
Net Earnings / Revenue 1.67% -1.49%
Basic Earnings Per Share $0.03 -$0.02
Diluted Earnings Per Share $0.03 -$0.02
COMMON SHARES
Basic Shares Outstanding 7.022M shares 6.998M shares
Diluted Shares Outstanding 7.026M shares 6.998M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.36M $31.03M
YoY Change 17.16% 19.05%
Cash & Equivalents $36.36M $31.03M
Short-Term Investments
Other Short-Term Assets $5.525M $6.052M
YoY Change -8.71% -8.23%
Inventory
Prepaid Expenses
Receivables $5.118M $6.291M
Other Receivables $0.00 $0.00
Total Short-Term Assets $47.00M $43.38M
YoY Change 8.36% 11.54%
LONG-TERM ASSETS
Property, Plant & Equipment $273.0M $288.1M
YoY Change -5.23% -13.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.43M $20.66M
YoY Change -5.95%
Other Assets $2.096M $2.225M
YoY Change -5.8% -13.22%
Total Long-Term Assets $301.1M $317.7M
YoY Change -5.22% -7.08%
TOTAL ASSETS
Total Short-Term Assets $47.00M $43.38M
Total Long-Term Assets $301.1M $317.7M
Total Assets $348.1M $361.1M
YoY Change -3.59% -5.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.813M $2.475M
YoY Change 13.66% -32.95%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.89M $13.21M
YoY Change -17.58% -37.5%
LONG-TERM LIABILITIES
Long-Term Debt $301.2M $300.7M
YoY Change 0.16% -11.38%
Other Long-Term Liabilities $4.378M $6.498M
YoY Change -32.63% 183.14%
Total Long-Term Liabilities $305.5M $307.2M
YoY Change -0.54% -10.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.89M $13.21M
Total Long-Term Liabilities $305.5M $307.2M
Total Liabilities $312.0M $320.4M
YoY Change -2.61% -11.85%
SHAREHOLDERS EQUITY
Retained Earnings $13.52M
YoY Change
Common Stock $71.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.863M
YoY Change
Treasury Stock Shares 136.5K shares
Shareholders Equity $36.12M $38.41M
YoY Change
Total Liabilities & Shareholders Equity $348.1M $361.1M
YoY Change -3.59% -5.18%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $209.0K -$181.0K
YoY Change -215.47% -190.95%
Depreciation, Depletion And Amortization $2.315M $2.425M
YoY Change -4.54% -24.67%
Cash From Operating Activities $1.425M -$605.0K
YoY Change -335.54% -120.28%
INVESTING ACTIVITIES
Capital Expenditures -$682.0K -$912.0K
YoY Change -25.22% 24.42%
Acquisitions
YoY Change
Other Investing Activities $39.00K $151.0K
YoY Change -74.17%
Cash From Investing Activities -$643.0K -$761.0K
YoY Change -15.51% 3.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.284M -884.0K
YoY Change 384.62% -55.84%
NET CHANGE
Cash From Operating Activities 1.425M -605.0K
Cash From Investing Activities -643.0K -761.0K
Cash From Financing Activities -4.284M -884.0K
Net Change In Cash -3.502M -2.250M
YoY Change 55.64% -1007.26%
FREE CASH FLOW
Cash From Operating Activities $1.425M -$605.0K
Capital Expenditures -$682.0K -$912.0K
Free Cash Flow $2.107M $307.0K
YoY Change 586.32% -91.74%

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462000 USD
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frevsob Vested Share Units Issued To Consultant And Retired Director
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frevsob Real Estate At Cost Net Of Accumulated Depreciation
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frevsob Prepaid Expenses And Other Assets
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frevsob Deconsolidation Of Subsidiary Cash And Cash Equivalents
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frevsob Recognition Of Retained Investment In Tenancyincommon At Fair Value
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20758000 USD
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34325000 USD
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2000 shares
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4000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0 USD
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LitigationSettlementExpense
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LegalFees
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LegalFees
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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6920000 USD
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225000 USD
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213000 USD
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334000 USD
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88000 USD
us-gaap Investment Income Net
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174000 USD
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29000 USD
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38000 USD
us-gaap General And Administrative Expense
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4143000 USD
us-gaap General And Administrative Expense
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3061000 USD
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1413000 USD
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1233000 USD
frevsob Third Party Transaction Costs
ThirdPartyTransactionCosts
USD
frevsob Third Party Transaction Costs
ThirdPartyTransactionCosts
4606000 USD
CY2021Q3 frevsob Third Party Transaction Costs
ThirdPartyTransactionCosts
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CY2020Q3 frevsob Third Party Transaction Costs
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87000 USD
frevsob Gain On Deconsolidation Of Subsidiary
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USD
frevsob Gain On Deconsolidation Of Subsidiary
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CY2021Q3 frevsob Gain On Deconsolidation Of Subsidiary
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CY2020Q3 frevsob Gain On Deconsolidation Of Subsidiary
GainOnDeconsolidationOfSubsidiary
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us-gaap Income Loss From Equity Method Investments
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us-gaap Depreciation Nonproduction
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18000 USD
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107000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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776000 USD
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209000 USD
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1 pure
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11229000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
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9077000 USD
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27749000 USD
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260000 USD
frevsob Loss Of Base Rent And Additional Rent
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400000 USD
frevsob Rental Revenue Deemed Uncollectible
RentalRevenueDeemedUncollectible
1200000 USD
CY2021Q1 frevsob Rental Revenue Deemed Uncollectible
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300000 USD
frevsob Rent Abatements
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135000 USD
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RentAbatements
34000 USD
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162000 USD
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RepaymentsOfDebt
162000 USD
CY2021Q3 us-gaap Cash
Cash
36400000 USD
CY2021Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
13000000 USD

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