2024 Q2 Form 10-Q Financial Statement

#000121390024042504 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $5.515M $7.490M $6.836M
YoY Change 141.05% 187.78% -49.9%
Cost Of Revenue $3.803M $4.837M $3.401M
YoY Change 294.95% 360.19% -37.15%
Gross Profit $1.712M $2.653M $3.435M
YoY Change 29.21% 70.98% -58.28%
Gross Profit Margin 31.04% 35.42% 50.25%
Selling, General & Admin $3.968M $2.669M $7.971M
YoY Change 84.88% 13.89% -44.64%
% of Gross Profit 231.78% 100.6% 232.06%
Research & Development $2.336M
YoY Change -50.21%
% of Gross Profit 67.99%
Depreciation & Amortization $3.292M $3.247M $147.4K
YoY Change 1082.22% 926.55% -91.53%
% of Gross Profit 192.29% 122.39% 4.29%
Operating Expenses $7.260M $9.050M $10.33M
YoY Change 135.4% 160.01% -58.18%
Operating Profit -$5.866M -$1.560M -$6.899M
YoY Change 233.47% -19.13% -58.13%
Interest Expense $282.0K $326.0K -$1.130M
YoY Change -224.2% -166.9% -69.24%
% of Operating Profit
Other Income/Expense, Net $1.857M -$10.18M -$573.3K
YoY Change -240.38% 1484.39% 159.29%
Pretax Income -$4.009M -$11.74M -$8.603M
YoY Change 30.08% 356.64% -85.5%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.009M -$11.74M -$11.58M
YoY Change 30.08% 374.58% -85.53%
Net Earnings / Revenue -72.69% -156.8% -169.36%
Basic Earnings Per Share -$0.10 -$0.36
Diluted Earnings Per Share -$0.10 -$0.40 -$31.20
COMMON SHARES
Basic Shares Outstanding 39.27M shares 38.80M shares 10.25M shares
Diluted Shares Outstanding 38.94M shares 32.44M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.350M $1.924M $1.171M
YoY Change 63.02% 118.23% 33.46%
Cash & Equivalents $1.219M $1.737M $768.5K
Short-Term Investments $131.0K $187.0K $403.0K
Other Short-Term Assets $908.0K
YoY Change -92.9%
Inventory
Prepaid Expenses $919.0K $98.00K $581.0K
Receivables $1.000K $290.0K $147.9K
Other Receivables $370.3K
Total Short-Term Assets $3.244M $7.095M $1.336M
YoY Change 34.87% 161.66% -91.03%
LONG-TERM ASSETS
Property, Plant & Equipment $7.634M $10.17M $21.69K
YoY Change 22617.53% 25039.08% -55.63%
Goodwill
YoY Change
Intangibles $100.0K $100.0K $100.0K
YoY Change -95.38%
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $8.204M $10.69M $21.69K
YoY Change 104.78% 149.42% -99.53%
TOTAL ASSETS
Total Short-Term Assets $3.244M $7.095M $1.336M
Total Long-Term Assets $8.204M $10.69M $21.69K
Total Assets $11.45M $17.78M $1.358M
YoY Change 78.56% 154.17% -93.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.885M $5.120M $2.165M
YoY Change 122.3% 190.77% 43.37%
Accrued Expenses $2.481M $2.030M $1.415M
YoY Change 81.94% 67.73% -28.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $23.04M $5.149M
YoY Change 234.64% -60.99%
Total Short-Term Liabilities $25.44M $30.19M $10.37M
YoY Change 110.6% 169.4% -54.37%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.44M $30.19M $10.37M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $25.44M $30.19M $10.37M
YoY Change 74.55% 136.18% -57.32%
SHAREHOLDERS EQUITY
Retained Earnings -$62.19M -$58.18M -$179.1M
YoY Change -64.08% -65.78% 6.91%
Common Stock $3.000K $45.77M $164.6M
YoY Change -100.0% -71.7% 2.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.99M -$12.41M -$9.011M
YoY Change
Total Liabilities & Shareholders Equity $11.45M $17.78M $1.358M
YoY Change 78.56% 154.17% -93.02%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$4.009M -$11.74M -$11.58M
YoY Change 30.08% 374.58% -85.53%
Depreciation, Depletion And Amortization $3.292M $3.247M $147.4K
YoY Change 1082.22% 926.55% -91.53%
Cash From Operating Activities $201.0K -$983.0K -$682.0K
YoY Change -112.94% -61.26% 51.61%
INVESTING ACTIVITIES
Capital Expenditures $1.075M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $121.0K $0.00 $637.4K
YoY Change -100.0% 12647.2%
Cash From Investing Activities -$954.0K $637.4K
YoY Change -162.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 235.0K $1.805M 650.0K
YoY Change -84.33% -136.71% 360.57%
NET CHANGE
Cash From Operating Activities 201.0K -$983.0K -682.0K
Cash From Investing Activities -954.0K 637.4K
Cash From Financing Activities 235.0K $1.805M 650.0K
Net Change In Cash -518.0K $822.0K 605.4K
YoY Change 877.54% -112.09% -145.54%
FREE CASH FLOW
Cash From Operating Activities $201.0K -$983.0K -$682.0K
Capital Expenditures $1.075M
Free Cash Flow -$874.0K -$983.0K
YoY Change -43.72% -61.26%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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Cash
1737000 usd
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Cash
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2256000 usd
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500000 usd
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98000 usd
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Reclassification</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain reclassifications have been made to the 2023 consolidated financial statements in order to conform to the current period presentations.</p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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1737000 usd
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0.01 pure
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CY2024Q1 gryp Adjustmentof Accumulated Deficit Revaluation Of Digital Asset
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7490000 usd
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RevenueRecognizedFromMinedDigitalAssets
21052000 usd
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-17977000 usd
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-1750000 usd
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1703000 usd
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4173000 usd
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2097000 usd
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CostOfDigitalAssetsTransferredForNoncashExpenditures
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1 pure
CY2024Q1 gryp Increase In Digital Assets
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739000 usd
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739000 usd
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850000 shares
CY2023Q4 us-gaap Marketable Securities Current
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403000 usd
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235000 usd
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CY2023 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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168000 usd
CY2024Q1 us-gaap Marketable Securities Current
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187000 usd
CY2023Q4 us-gaap Marketable Securities Current
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403000 usd
CY2023Q4 us-gaap Deposits Assets Noncurrent
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420000 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
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60000 usd
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360000 usd
CY2024Q1 us-gaap Deposits Assets Noncurrent
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420000 usd
CY2023Q4 us-gaap Deposits Assets Noncurrent
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420000 usd
CY2024Q1 gryp Refundable Deposits
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420000 usd
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8861 pure
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CY2023Q4 us-gaap Property Plant And Equipment Gross
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15978000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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47599000 usd
CY2024Q1 us-gaap Property Plant And Equipment Additions
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498000 usd
CY2023 us-gaap Property Plant And Equipment Additions
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1894000 usd
CY2023 us-gaap Property Plant And Equipment Disposals
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105000 usd
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CY2023 gryp Revaluation From Impairment
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CY2024Q1 us-gaap Property Plant And Equipment Gross
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CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Reclassifications From Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationReclassificationsFromPropertyPlantAndEquipment1
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CY2023 us-gaap Accumulated Depreciation Depletion And Amortization Reclassifications From Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationReclassificationsFromPropertyPlantAndEquipment1
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CY2023 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
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CY2023 gryp Revaluation From Impairment Accumulated Depreciation
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CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q1 gryp Payment For Notes Payable
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CY2024Q1 gryp Fair Value Adjustment Of Payable
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9638000 usd
CY2023 gryp Fair Value Adjustment Of Payable
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13193000 usd
CY2024Q1 us-gaap Notes Payable Current
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23042000 usd
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14868000 usd
CY2024Q1 us-gaap Notes Payable Current
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23042000 usd
CY2023Q4 us-gaap Notes Payable Current
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14868000 usd
CY2022Q2 gryp Bitcoin Amount
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933.333333 pure
CY2022Q2 gryp Annual Interest Rate
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0.05 pure
CY2024Q1 us-gaap Investment Interest Rate
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1 pure
CY2024Q1 us-gaap Other Borrowings
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100000 usd
CY2024Q1 gryp Crypto Assets Rate
CryptoAssetsRate
38.6363638 pure
CY2024Q1 gryp Crypto Asset Mining Revenue Rate
CryptoAssetMiningRevenueRate
0.75 pure
CY2024Q1 gryp Revenue Mining Rate
RevenueMiningRate
1 pure
CY2024Q1 gryp Coverate Ratio Rate
CoverateRatioRate
1.10 pure
CY2024Q1 gryp Coverage Ratio Rate Decreases
CoverageRatioRateDecreases
1.10 pure
CY2024Q1 us-gaap Capital Units Adjustment For Market Changes
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125000000 usd
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150000000 usd
CY2024Q1 gryp Bitcoins One Time Payment
BitcoinsOneTimePayment
173.17 pure
CY2024Q1 gryp Bitcoins Fair Value
BitcoinsFairValue
4856000 usd
CY2024Q1 us-gaap Debt Instrument Fee Amount
DebtInstrumentFeeAmount
104000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
326000 usd
CY2024Q1 gryp Accrued Income Expenses
AccruedIncomeExpenses
117000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
184000 usd
CY2023Q4 gryp Accrued Interest Expense
AccruedInterestExpense
77000 usd
CY2021Q1 us-gaap Collateralized Agreements
CollateralizedAgreements
300000 cad
CY2024Q1 us-gaap Commitments Fair Value Disclosure
CommitmentsFairValueDisclosure
560000 usd
CY2023Q1 us-gaap Payments For Fees
PaymentsForFees
560000 usd
CY2023Q4 us-gaap Other Assets Current
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908000 usd
CY2023Q4 us-gaap Restricted Cash Current
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8000 usd
CY2024Q1 gryp Common And Preferred Stock Shares Authorized
CommonAndPreferredStockSharesAuthorized
155000000 shares
CY2024Q1 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.42
CY2023Q2 gryp Shares Amount
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946000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
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84210 shares
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14035 shares
CY2023Q1 us-gaap Shares Issued
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28070 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.36
CY2023Q1 gryp Shares Amount
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328000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Other
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863687 shares
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
71975 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
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9.487
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17274 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Intrinsic Value
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33.48
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
322000 usd
CY2021Q4 us-gaap Shares Issued
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8637 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Intrinsic Value
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33.9
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
163000 usd
CY2023Q1 gryp Common Stock Issued For Compensation
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131000 usd
CY2024Q1 gryp Common Stock Issued For Compensation
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0 usd
CY2021Q4 us-gaap Shares Issued
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17274 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedIntrinsicValue
39.48
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
380000 usd
CY2024Q1 us-gaap Marketable Securities
MarketableSecurities
187000 usd
CY2024Q1 gryp Digital Assets
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4173000 usd
CY2024Q1 us-gaap Long Term Debt Current
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23042000 usd
CY2023Q4 us-gaap Other Assets Current
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908000 usd
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
403000 usd
CY2023Q4 us-gaap Other Liabilities Current
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916000 usd
CY2023Q4 us-gaap Long Term Debt Current
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14868000 usd
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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2800000 usd
CY2023Q1 gryp Value Of Common Stock Issued For Acquisition Of Akernas Net Book Value
ValueOfCommonStockIssuedForAcquisitionOfAkernasNetBookValue
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 us-gaap Other Assets Current
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CY2024Q1 us-gaap Other Liabilities Current
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CY2024Q1 us-gaap Long Term Debt Noncurrent
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CY2023Q4 us-gaap Long Term Debt Noncurrent
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CY2023Q4 us-gaap Preferred Stock Value
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CY2024Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
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CY2023Q1 gryp Unrealized Gain On Digital Assets
UnrealizedGainOnDigitalAssets
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CY2024Q1 gryp Realized Gain On Disposition Of Digital Assets
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CY2024Q1 gryp Realized Gain From Use Of Digital Assets
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CY2024Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2024Q1 us-gaap Other Nonoperating Income Expense
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Earnings Per Share Diluted
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-0.28
CY2024Q1 us-gaap Earnings Per Share Diluted
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-0.40
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32436759 shares
CY2024Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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CY2024Q1 us-gaap Conversion Of Stock Amount Converted1
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CY2024Q1 gryp Cancelation Of Stock Subscription Receivable
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CY2024Q1 gryp Impairment Loss On Digital Assets
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CY2024Q1 gryp Realized Gain From Use Of Digital Assets
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CY2023Q1 gryp Unrealized Gain On Digital Asset
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CY2024Q1 gryp Forfeiture Of Restricted Stock Grants
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CY2024Q1 gryp Compensation For Services Contributed By The Companys Ppresident
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CY2024Q1 us-gaap Gain Loss On Disposition Of Assets1
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CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2023Q1 gryp Proceeds From Reverse Recapitalization
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CY2024Q1 us-gaap Restricted Cash
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CY2023Q1 gryp Accrued Compensation For Issuance Of Common Stock
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CY2023Q4 gryp Fair Value Adjustment
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CY2024Q1 gryp Revenue Share From Sphere
RevenueShareFromSphere
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CY2024Q1 gryp Impairment Loss On Digital Asset
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CY2023Q4 gryp Fair Value Gain On Digital Assets
FairValueGainOnDigitalAssets
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CY2024Q1 gryp Percentage Of Bitcoin In Hot Wallets
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CY2024Q1 gryp Cash Deposit
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CY2024Q1 us-gaap Property Plant And Equipment Disposals
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CY2024Q1 us-gaap Asset Impairment Charges
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CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
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CY2024Q1 gryp Revaluation From Impairment Accumulated Depreciation
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CY2024Q1 gryp Amended Principal Payment
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CY2023Q4 us-gaap Long Term Notes Payable
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CY2024Q1 us-gaap Other Assets Current
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CY2024Q1 dei Amendment Flag
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false
CY2024Q1 dei Current Fiscal Year End Date
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--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001755953

Files In Submission

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0001213900-24-042504-index-headers.html Edgar Link pending
0001213900-24-042504-index.html Edgar Link pending
0001213900-24-042504.txt Edgar Link pending
0001213900-24-042504-xbrl.zip Edgar Link pending
ea0205366-10q_gryphon.htm Edgar Link pending
ea020536601ex31-1_gryphon.htm Edgar Link pending
ea020536601ex31-2_gryphon.htm Edgar Link pending
ea020536601ex32-1_gryphon.htm Edgar Link pending
ea020536601ex32-2_gryphon.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gryp-20240331.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
gryp-20240331_cal.xml Edgar Link unprocessable
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