2022 Q3 Form 10-Q Financial Statement

#000149315222022347 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $100.0K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $700.0K $800.0K -$200.0K
YoY Change -78.79% -27.27% -102.99%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Gross Profit
Operating Expenses $700.0K $800.0K -$200.0K
YoY Change -78.79% -42.86% -102.99%
Operating Profit -$700.0K -$800.0K
YoY Change -75.0% -42.86%
Interest Expense $100.0K $100.0K
YoY Change -150.0% -102.22%
% of Operating Profit
Other Income/Expense, Net -$100.0K $100.0K $0.00
YoY Change -125.0% -99.25% -100.0%
Pretax Income -$800.0K -$700.0K $7.000M
YoY Change -74.19% -105.83% -135.71%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$800.0K -$700.0K $22.30M
YoY Change -71.43% -105.98% -135.79%
Net Earnings / Revenue 22300.0%
Basic Earnings Per Share -$30.30 -$26.52
Diluted Earnings Per Share -$30.30M -$26.52M $857.7M
COMMON SHARES
Basic Shares Outstanding 25.17K shares 26.40K shares
Diluted Shares Outstanding 26.40K shares 26.40K shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.900M $2.600M $4.100M
YoY Change 46.15% 225.0% 215.38%
Cash & Equivalents $1.900M $2.600M $4.100M
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables $100.0K $100.0K $100.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.000M $2.700M $4.200M
YoY Change 11.11% 200.0% 75.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.80M $12.80M $12.80M
YoY Change 0.0% 0.0% 0.0%
Other Assets $500.0K $500.0K $200.0K
YoY Change 150.0% 150.0% -50.0%
Total Long-Term Assets $13.30M $13.30M $13.00M
YoY Change -37.56% -37.56% -43.48%
TOTAL ASSETS
Total Short-Term Assets $2.000M $2.700M $4.200M
Total Long-Term Assets $13.30M $13.30M $13.00M
Total Assets $15.30M $16.00M $17.20M
YoY Change -33.77% -27.93% -32.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $1.300M $1.100M
YoY Change -53.57% -18.75% -38.89%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.700M $1.700M $1.500M
YoY Change -84.68% -41.38% -89.73%
LONG-TERM LIABILITIES
Long-Term Debt $3.600M $3.500M $3.400M
YoY Change 12.5% -80.11% -81.32%
Other Long-Term Liabilities $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $200.0K $200.0K $200.0K
YoY Change -94.12% -98.88% -98.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.700M $1.700M $1.500M
Total Long-Term Liabilities $200.0K $200.0K $200.0K
Total Liabilities $5.500M $5.400M $5.100M
YoY Change -84.93% -87.44% -90.84%
SHAREHOLDERS EQUITY
Retained Earnings -$1.038B -$1.038B -$1.036B
YoY Change
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.90M $24.90M $24.90M
YoY Change
Treasury Stock Shares 2.927K shares 2.927K shares
Shareholders Equity $9.800M $10.60M $12.10M
YoY Change
Total Liabilities & Shareholders Equity $15.30M $16.00M $17.20M
YoY Change -33.77% -27.93% -32.28%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$800.0K -$700.0K $22.30M
YoY Change -71.43% -105.98% -135.79%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Operating Activities -$700.0K -$600.0K -$2.100M
YoY Change -65.0% -57.14% 0.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $7.000M
YoY Change -100.0% -100.0% 900.0%
Cash From Investing Activities $0.00 $0.00 $7.000M
YoY Change -100.0% -100.0% 900.0%
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 0.000 -2.100M
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -700.0K -600.0K -2.100M
Cash From Investing Activities 0.000 0.000 7.000M
Cash From Financing Activities 0.000 0.000 -2.100M
Net Change In Cash -700.0K -600.0K 2.800M
YoY Change -240.0% -700.0% -300.0%
FREE CASH FLOW
Cash From Operating Activities -$700.0K -$600.0K -$2.100M
Capital Expenditures $0.00
Free Cash Flow -$2.100M
YoY Change 0.0%

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GLAE Extinguishment Of Note Payable In Reorganization
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GLAE Extinguishment Of Debtorinpossession Loan In Reorganization
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GLAE Forgiveness Of Bank Loan
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us-gaap Net Income Loss
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26400 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q2 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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CY2021Q2 GLAE Disposal Group Including Discontinued Operation Restructuring And Other
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us-gaap Disposal Group Including Discontinued Operation Operating Expense
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DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
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CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Other Expense
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IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
106.00
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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us-gaap Interest Expense
InterestExpense
100000 usd
CY2022Q2 us-gaap Other Assets
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CY2021Q4 us-gaap Other Assets
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CY2022Q2 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt
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3600000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
200000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3500000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
3700000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
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us-gaap Interest Expense
InterestExpense
1700000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
106.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2022Q2 us-gaap Income Tax Expense Benefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
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CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021Q1 us-gaap Proceeds From Income Tax Refunds
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CY2022Q2 us-gaap Stock Repurchased During Period Shares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2022Q2 GLAE Segment Operating Income Loss
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CY2021Q2 GLAE Segment Operating Income Loss
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CY2022Q2 GLAE Corporate And Unallocated
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GLAE Corporate And Unallocated
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GLAE Corporate And Unallocated
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CY2022Q2 us-gaap Operating Income Loss
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CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
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CY2021Q2 us-gaap Interest Expense
InterestExpense
800000 usd
CY2021Q2 GLAE Gain On Reorganization
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13800000 usd
GLAE Gain On Reorganization
GainOnReorganization
13800000 usd
CY2021Q2 GLAE Bank Loan Forgiveness
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400000 usd
GLAE Bank Loan Forgiveness
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400000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
100000 usd
us-gaap Other Nonoperating Income Expense
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200000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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9800000 usd
CY2022Q2 GLAE Segment Assets
SegmentAssets
13500000 usd
CY2021Q4 GLAE Segment Assets
SegmentAssets
13200000 usd
CY2022Q2 GLAE Corporate And Unallocated Asset
CorporateAndUnallocatedAsset
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CY2021Q4 GLAE Corporate And Unallocated Asset
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CY2022Q2 us-gaap Assets
Assets
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CY2021Q4 us-gaap Assets
Assets
17200000 usd
CY2021Q3 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2022-12-12
CY2021Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.05 pure

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