2024 Q1 Form 10-Q Financial Statement
#000149315224020710 Filed on May 20, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q1 |
---|---|---|
Revenue | ||
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $342.7K | $413.2K |
YoY Change | -17.06% | 25.82% |
% of Gross Profit | ||
Research & Development | $2.195M | $1.828M |
YoY Change | 20.06% | 10.06% |
% of Gross Profit | ||
Depreciation & Amortization | $900.00 | $900.00 |
YoY Change | 0.0% | 0.0% |
% of Gross Profit | ||
Operating Expenses | $2.537M | $2.241M |
YoY Change | 13.21% | 12.66% |
Operating Profit | -$2.537M | -$2.241M |
YoY Change | 13.21% | 12.66% |
Interest Expense | $64.01K | $116.2K |
YoY Change | -44.9% | 493.36% |
% of Operating Profit | ||
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | -$2.473M | -$2.125M |
YoY Change | 16.39% | 7.88% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$2.473M | -$2.125M |
YoY Change | 16.39% | 7.88% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.19 | -$0.17 |
Diluted Earnings Per Share | -$0.19 | -$0.17 |
COMMON SHARES | ||
Basic Shares Outstanding | 12.86M shares | 12.85M shares |
Diluted Shares Outstanding | 12.86M shares | 12.85M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $5.506M | $11.91M |
YoY Change | -53.77% | -39.67% |
Cash & Equivalents | $5.506M | $11.91M |
Short-Term Investments | ||
Other Short-Term Assets | ||
YoY Change | ||
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $5.506M | $11.91M |
YoY Change | -53.77% | -39.67% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $4.483K | $8.099K |
YoY Change | -44.65% | -30.84% |
TOTAL ASSETS | ||
Total Short-Term Assets | $5.506M | $11.91M |
Total Long-Term Assets | $4.483K | $8.099K |
Total Assets | $5.510M | $11.92M |
YoY Change | -53.77% | -39.66% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $346.6K | $220.9K |
YoY Change | 56.93% | 0.0% |
Accrued Expenses | $43.03K | $14.73K |
YoY Change | 192.12% | -27.51% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $389.6K | $235.6K |
YoY Change | 65.39% | -2.32% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $389.6K | $235.6K |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $389.6K | $235.6K |
YoY Change | 65.39% | -2.32% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$52.84M | -$43.60M |
YoY Change | 21.19% | |
Common Stock | $57.96M | $55.28M |
YoY Change | 4.84% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $5.121M | $11.68M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $5.510M | $11.92M |
YoY Change | -53.77% | -39.66% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$2.473M | -$2.125M |
YoY Change | 16.39% | 7.88% |
Depreciation, Depletion And Amortization | $900.00 | $900.00 |
YoY Change | 0.0% | 0.0% |
Cash From Operating Activities | -$1.783M | -$1.557M |
YoY Change | 14.5% | -20.06% |
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 | $299.1K | |
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $299.1K | |
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -$1.783M | -$1.557M |
Cash From Investing Activities | ||
Cash From Financing Activities | $299.1K | |
Net Change In Cash | -$1.483M | -$1.557M |
YoY Change | -4.71% | -79.13% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.783M | -$1.557M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
usd | |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | |
CY2024Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2023Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y | |
CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2194513 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1827907 | usd |
CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
342688 | usd |
CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
413175 | usd |
CY2024Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2537201 | usd |
CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2241082 | usd |
CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2537201 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2241082 | usd |
CY2024Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
64006 | usd |
CY2023Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
116180 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2473195 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2124902 | usd |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.19 | |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.19 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.17 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.17 | |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12859685 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12859685 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12848165 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12848165 | shares |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13214124 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
594522 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2124902 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11683744 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6700409 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6700409 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
594522 | usd |
CY2024Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
299116 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2473195 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5120852 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5120852 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2473195 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2124902 | usd |
CY2024Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
903 | usd |
CY2023Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
903 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
594522 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
594522 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
90265 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
4940 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-27330 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1782565 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1556807 | usd |
CY2024Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
299116 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
299116 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1483449 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1556807 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
6989424 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
13468026 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5505975 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
11911219 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5505975 | usd |
CY2024Q1 | us-gaap |
Payments For Rent
PaymentsForRent
|
2 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Description
LesseeOperatingLeaseDescription
|
the underlying lease expires in May of 2024 | |
CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2473195 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2124902 | usd |
CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-2473195 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-2124902 | usd |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
12859685 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12859685 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
12848165 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12848165 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.19 | |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.19 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.17 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.17 | |
CY2024Q1 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
125737 | usd |
CY2023Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
35472 | usd |
CY2024Q1 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
220845 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
220845 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
893181 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
|
120 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
2009657 | usd |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
15181 | shares |
CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
|
34157 | usd |
CY2023Q1 | srt |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
|
519828 | shares |
CY2023Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
7536216 | usd |
CY2024Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
257269 | usd |
CY2024Q1 | us-gaap |
Share Price
SharePrice
|
19.94 | |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
20174 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1498128 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
7.63 | |
CY2024Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
9512356 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.032 | pure |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.06 | pure |
CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4221106 | usd |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
5291250 | usd |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1843018 | usd |