2022 Q4 Form 10-K Financial Statement

#000095017023009748 Filed on March 24, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $225.4K $982.0K
YoY Change 969.07% 1579.77%
Operating Profit -$982.0K
YoY Change
Interest Expense $2.048M $3.592M
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.027M $10.77M
YoY Change
Pretax Income $2.850M $9.787M
YoY Change -13621.39% -16841.53%
Income Tax
% Of Pretax Income
Net Earnings $2.850M $9.787M
YoY Change -13621.39% -16841.53%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.10 $0.35
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $288.1K $288.1K
YoY Change 118.39% 118.39%
Cash & Equivalents $0.00
Short-Term Investments
Other Short-Term Assets $474.0K $474.0K
YoY Change
Inventory
Prepaid Expenses $474.0K
Receivables
Other Receivables
Total Short-Term Assets $762.1K $762.1K
YoY Change -48.42% 477.72%
LONG-TERM ASSETS
Property, Plant & Equipment $225.1M $225.1M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.88K $22.88K
YoY Change -98.3% -98.3%
Total Long-Term Assets $225.1M $225.1M
YoY Change 16629.04%
TOTAL ASSETS
Total Short-Term Assets $762.1K $762.1K
Total Long-Term Assets $225.1M $225.1M
Total Assets $225.9M $225.9M
YoY Change 15187.12% 15187.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.2K $113.2K
YoY Change 160.66% 160.66%
Accrued Expenses $463.0K $463.1K
YoY Change -61.17% -61.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $576.2K $576.2K
YoY Change -61.86% -61.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $807.1K $807.1K
YoY Change
Total Long-Term Liabilities $807.1K $807.1K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $576.2K $576.2K
Total Long-Term Liabilities $807.1K $807.1K
Total Liabilities $9.059M $9.059M
YoY Change 499.54% 499.54%
SHAREHOLDERS EQUITY
Retained Earnings -$8.275M
YoY Change 14055.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.274M $216.8M
YoY Change
Total Liabilities & Shareholders Equity $225.9M $225.9M
YoY Change 15187.12% 15187.09%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $2.850M $9.787M
YoY Change -13621.39% -16841.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$39.34K -$2.120M
YoY Change -249.98% -73967.74%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$221.5M
YoY Change
Cash From Investing Activities $0.00 -$221.5M
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 0.000 223.8M
YoY Change -100.0% 173310.7%
NET CHANGE
Cash From Operating Activities -39.34K -2.120M
Cash From Investing Activities 0.000 -221.5M
Cash From Financing Activities 0.000 223.8M
Net Change In Cash -39.34K 156.2K
YoY Change -133.66% 18.39%
FREE CASH FLOW
Cash From Operating Activities -$39.34K -$2.120M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:6.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the financial statements in conformity with US 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 expenses during the reporting period. Actual results could differ from those estimates.</span></p><p style="margin-left:2.627%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:12.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability and over-allotment liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates.‌</span></p>
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Concentration of Credit Risk‌</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">250,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. The Company has not experienced losses on this account.‌</span></p>
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Files In Submission

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