2023 Q3 Form 10-Q Financial Statement

#000160706223000398 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $7.779M $8.526M
YoY Change -34.9% -26.42%
Cost Of Revenue $6.072M $6.579M
YoY Change -28.75% -21.95%
Gross Profit $1.707M $1.947M
YoY Change -50.2% -38.37%
Gross Profit Margin 21.94% 22.84%
Selling, General & Admin $2.470M $2.638M
YoY Change -25.04% -14.96%
% of Gross Profit 144.7% 135.49%
Research & Development $54.00K $102.0K
YoY Change -96.33% -84.21%
% of Gross Profit 3.16% 5.24%
Depreciation & Amortization $710.0K $802.0K
YoY Change -21.89% -4.98%
% of Gross Profit 41.59% 41.19%
Operating Expenses $3.231M $3.542M
YoY Change -43.07% -22.87%
Operating Profit -$1.524M -$1.595M
YoY Change -32.18% 11.3%
Interest Expense -$420.0K -$186.0K
YoY Change 663.64% -420.69%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$1.939M -$1.781M
YoY Change -15.77% 340.84%
Income Tax $4.000K $5.000K
% Of Pretax Income
Net Earnings -$1.943M -$1.786M
YoY Change -16.93% 340.99%
Net Earnings / Revenue -24.98% -20.95%
Basic Earnings Per Share -$0.45 -$0.42
Diluted Earnings Per Share -$0.46 -$0.42
COMMON SHARES
Basic Shares Outstanding 4.278M shares 42.78M shares
Diluted Shares Outstanding 4.278M shares 4.273M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00K $132.0K
YoY Change -98.07% -90.32%
Cash & Equivalents $75.00K $132.0K
Short-Term Investments
Other Short-Term Assets $622.0K $816.0K
YoY Change 166.95% 22.16%
Inventory
Prepaid Expenses
Receivables $4.000K $4.476M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.893M $5.424M
YoY Change -55.84% -36.77%
LONG-TERM ASSETS
Property, Plant & Equipment $49.00K $57.00K
YoY Change -35.53% -29.63%
Goodwill $1.289M $1.289M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets -$1.000M
YoY Change
Total Long-Term Assets $9.573M $10.64M
YoY Change -30.55% -22.93%
TOTAL ASSETS
Total Short-Term Assets $4.893M $5.424M
Total Long-Term Assets $9.573M $10.64M
Total Assets $14.47M $16.07M
YoY Change -41.82% -28.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.161M $926.0K
YoY Change -20.91% -27.09%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.479M $3.531M
YoY Change 41.83% 9.93%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.852M $5.790M
YoY Change 35.42% -4.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.490M $2.227M
YoY Change -33.09% 0.0%
Total Long-Term Liabilities $1.490M $2.227M
YoY Change -33.09% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.852M $5.790M
Total Long-Term Liabilities $1.490M $2.227M
Total Liabilities $8.339M $8.017M
YoY Change 14.44% -3.21%
SHAREHOLDERS EQUITY
Retained Earnings -$19.58M -$17.63M
YoY Change 163.86% 247.09%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.127M $8.051M
YoY Change
Total Liabilities & Shareholders Equity $14.47M $16.07M
YoY Change -41.82% -28.23%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.943M -$1.786M
YoY Change -16.93% 340.99%
Depreciation, Depletion And Amortization $710.0K $802.0K
YoY Change -21.89% -4.98%
Cash From Operating Activities $0.00 -$1.221M
YoY Change -100.0% -507.0%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $0.00
YoY Change -100.78% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K $0.00
YoY Change -99.22% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.00K 1.086M
YoY Change -100.99% -27.74%
NET CHANGE
Cash From Operating Activities 0.000 -1.221M
Cash From Investing Activities -10.00K 0.000
Cash From Financing Activities -50.00K 1.086M
Net Change In Cash -60.00K -135.0K
YoY Change -102.16% -32.16%
FREE CASH FLOW
Cash From Operating Activities $0.00 -$1.221M
Capital Expenditures $10.00K $0.00
Free Cash Flow -$10.00K -$1.221M
YoY Change -103.24% -153.04%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-407000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1341000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1770000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
132000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1363000 usd
us-gaap Interest Expense
InterestExpense
248000 usd
us-gaap Interest Expense
InterestExpense
74000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
24000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
22000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zqUoW3NNExE8" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><span id="xdx_86C_zZfUNK8pNKnc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements is in conformity with GAAP which requires us to make estimates, judgments and assumptions that affect the financial statements and the notes thereto. These estimates are based on information available as of the date of the financial statements. On a regular basis, management evaluates these estimates and assumptions. Items subject to such estimates and assumptions include, but are not limited to:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20px; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 7px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the standalone selling price for each distinct performance obligation</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20px; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 7px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the determination of the period of benefit for amortization of deferred costs.</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20px; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 7px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the fair value of assets acquired, and liabilities assumed for business combinations.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share based compensation including warrants</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"></p>
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8526000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11588000 usd
CY2023Q2 HCTI Changes Amount
ChangesAmount
-3062000 usd
CY2023Q2 HCTI Changes Percentage
ChangesPercentage
-0.26 pure
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18364000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
22644000 usd
HCTI Changes Amount
ChangesAmount
-4280000 usd
HCTI Changes Percentage
ChangesPercentage
-0.19 pure
CY2023Q2 HCTI Total Segment Operating Profit
TotalSegmentOperatingProfit
-263000 usd
CY2022Q2 HCTI Total Segment Operating Profit
TotalSegmentOperatingProfit
751000 usd
CY2023Q2 HCTI Total Segment Operating Profit Amount Changes
TotalSegmentOperatingProfitAmountChanges
-488000 usd
CY2023Q2 HCTI Total Segment Operating Profit Percentage Changes
TotalSegmentOperatingProfitPercentageChanges
-0.65 pure
CY2023Q2 HCTI Unallocated Costs
UnallocatedCosts
1858000 usd
CY2022Q2 HCTI Unallocated Costs
UnallocatedCosts
2184000 usd
CY2023Q2 HCTI Less Unallocated Costs Amount Changes
LessUnallocatedCostsAmountChanges
-326000 usd
CY2023Q2 HCTI Less Unallocated Costs Percentage Changes
LessUnallocatedCostsPercentageChanges
-0.15 pure
CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1595000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1433000 usd
CY2023Q2 HCTI Income From Operations Amount Changes
IncomeFromOperationsAmountChanges
-162000 usd
CY2023Q2 HCTI Income From Operations Percentage Changes
IncomeFromOperationsPercentageChanges
-0.11 pure
CY2022Q2 us-gaap Other Noncash Income
OtherNoncashIncome
1087000 usd
CY2023Q2 HCTI Other Income Amount Changes
OtherIncomeAmountChanges
-1087000 usd
CY2023Q2 HCTI Other Income Percentage Changes
OtherIncomePercentageChanges
-1 pure
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
186000 usd
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
58000 usd
CY2023Q2 HCTI Interest Expense Amount Changes
InterestExpenseAmountChanges
-128000 usd
CY2023Q2 HCTI Interest Expense Percentage Changes
InterestExpensePercentageChanges
-2.21 pure
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1781000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-404000 usd
CY2023Q2 HCTI Net Income Loss Before Income Tax Expenses Amount Changes
NetIncomeLossBeforeIncomeTaxExpensesAmountChanges
-1377000 usd
CY2023Q2 HCTI Net Income Loss Before Income Tax Expenses Percentage Changes
NetIncomeLossBeforeIncomeTaxExpensesPercentageChanges
-3.41 pure
HCTI Total Segment Operating Profit
TotalSegmentOperatingProfit
-784000 usd
HCTI Total Segment Operating Profit
TotalSegmentOperatingProfit
1233000 usd
HCTI Total Segment Operating Profit Amount Changes
TotalSegmentOperatingProfitAmountChanges
-2017000 usd
HCTI Total Segment Operating Profit Percentage Changes
TotalSegmentOperatingProfitPercentageChanges
-1.64 pure
HCTI Unallocated Costs
UnallocatedCosts
4020000 usd
HCTI Unallocated Costs
UnallocatedCosts
4640000 usd
HCTI Less Unallocated Costs Amount Changes
LessUnallocatedCostsAmountChanges
-620000 usd
HCTI Less Unallocated Costs Percentage Changes
LessUnallocatedCostsPercentageChanges
-0.13 pure
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-4804000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3407000 usd
HCTI Income From Operations Amount Changes
IncomeFromOperationsAmountChanges
-1397000 usd
HCTI Income From Operations Percentage Changes
IncomeFromOperationsPercentageChanges
-0.41 pure
us-gaap Other Noncash Income
OtherNoncashIncome
12000 usd
us-gaap Other Noncash Income
OtherNoncashIncome
1087000 usd
HCTI Other Income Amount Changes
OtherIncomeAmountChanges
-1075000 usd
HCTI Other Income Percentage Changes
OtherIncomePercentageChanges
-0.99 pure
us-gaap Interest Expense Debt
InterestExpenseDebt
248000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
74000 usd
HCTI Interest Expense Amount Changes
InterestExpenseAmountChanges
-174000 usd
HCTI Interest Expense Percentage Changes
InterestExpensePercentageChanges
-2.35 pure
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5040000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2394000 usd
HCTI Net Income Loss Before Income Tax Expenses Amount Changes
NetIncomeLossBeforeIncomeTaxExpensesAmountChanges
-2646000 usd
HCTI Net Income Loss Before Income Tax Expenses Percentage Changes
NetIncomeLossBeforeIncomeTaxExpensesPercentageChanges
-1.11 pure
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
4476000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
5592000 usd
CY2023Q2 HCTI Warrant Liabilities
WarrantLiabilities
55000 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2227000 usd
us-gaap Advertising Expense
AdvertisingExpense
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_z910UOUjIZC3" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><span id="xdx_86E_zkuyEKOxTUZ1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentrations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and trade receivables. Credit risks associated with trade receivables is minimal due to the Company’s customer base which consist of large customer base and ongoing procedures, which monitor the credit worthiness of its customers. For the quarter ended June 30, 2023 and 2022 revenue from the top five customers accounted for approximately <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20230101__20230630__srt--MajorCustomersAxis__custom--FiveMajorCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_z1vjqp3dnzs3">81</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20220101__20220630__srt--MajorCustomersAxis__custom--FiveMajorCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_znBD82BEFYgl">73</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of total revenue respectively. For the quarter ended June 30, 2023 and year ended December 31, 2022 accounts receivable from five major customers accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20230101__20230630__srt--MajorCustomersAxis__custom--FiveMajorCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_zIgtX2FHPM41">81</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pip0_dp_c20220101__20220630__srt--MajorCustomersAxis__custom--FiveMajorCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_zFONabqxFEde">72</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the total accounts receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances in various financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation up to $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_c20230630_z7qvRK01jqB7">250,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(valid through June 30, 2023) per institution.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2023 and December 31, 2022, the Company had Nil<span id="xdx_904_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20230630_z0RwojM1pZng" style="color: White">0 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_904_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20221231_z3CndSZMdure">816 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">respectively, of uninsured cash balances. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash.</span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
816000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
123000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
119000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
39000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
57000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80000 usd
us-gaap Depreciation
Depreciation
10000 usd
us-gaap Depreciation
Depreciation
8500 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16473000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7552000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8921000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16473000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5903000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10570000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
792000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
793000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
1538000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
3077000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
3020000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
1286000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8921000 usd
CY2023Q2 HCTI Due From Other Related Party Noncurrent
DueFromOtherRelatedPartyNoncurrent
756000 usd
CY2022Q2 HCTI Due From Other Related Party Noncurrent
DueFromOtherRelatedPartyNoncurrent
218000 usd
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
67000 usd
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
43000 usd
CY2023Q2 HCTI Due From Related Party
DueFromRelatedParty
9000 usd
CY2022Q2 HCTI Due From Related Party
DueFromRelatedParty
0 usd
us-gaap Proceeds From Sale Of Other Assets1
ProceedsFromSaleOfOtherAssets1
4500000 usd
HCTI Weighted Average Price Of Stock Amount
WeightedAveragePriceOfStockAmount
700000 usd
HCTI Unvested Common Stock
UnvestedCommonStock
8372 shares
HCTI Earnout Payment
EarnoutPayment
2500000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2209000 usd
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2022-04-30
CY2023Q2 us-gaap Goodwill Gross
GoodwillGross
1289000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indefinite Lived Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
6018000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
1289000 usd
CY2023Q2 us-gaap Cash
Cash
970000 usd
CY2023Q2 HCTI Business Combination Acquisition Accounts Receivables
BusinessCombinationAcquisitionAccountsReceivables
3142000 usd
CY2023Q2 HCTI Business Combination Acquisition Other Assets Current
BusinessCombinationAcquisitionOtherAssetsCurrent
11419000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
758000 usd
CY2023Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
2209000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
679000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
3646000 usd
CY2023Q2 HCTI Net Working Capital Acquired
NetWorkingCapitalAcquired
7773000 usd
CY2023Q2 HCTI Total Business Acquisitions Purchase Price
TotalBusinessAcquisitionsPurchasePrice
7773000 usd
CY2023Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
28.8
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
55000 usd
HCTI Estimated Fair Value Of Common Stock Warrant
EstimatedFairValueOfCommonStockWarrant
4.0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
28.8
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.01 pure
CY2023Q2 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
2352000 usd
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
3212000 usd
CY2023Q2 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
1179 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1361000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2578000 usd
CY2023Q2 HCTI Stockbased Compensation
StockbasedCompensation
-47000 usd
CY2022Q4 HCTI Stockbased Compensation
StockbasedCompensation
-27000 usd
CY2022Q4 HCTI Other Income Loan Forgiveness
OtherIncomeLoanForgiveness
292000 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1314000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2843000 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1314000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2843000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1000 usd
HCTI Total Income Expenses Benefit
TotalIncomeExpensesBenefit
5000 usd
HCTI Total Income Expenses Benefit
TotalIncomeExpensesBenefit
1000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
208514 shares
CY2023Q1 HCTI Incentive Stock Options Iso
IncentiveStockOptionsIso
200000 shares
CY2023Q1 HCTI Nonqualified Stock Options Nso
NonqualifiedStockOptionsNso
880757 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
12386 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
332824 shares
CY2023Q2 HCTI Nonqualified Stock Options Nso
NonqualifiedStockOptionsNso
11226 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
70000000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
274050 shares
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
309000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1786000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-405000 usd
HCTI Weighted Average Shares Outstanding Used In Basic Per Common Share Computations
WeightedAverageSharesOutstandingUsedInBasicPerCommonShareComputations
4228379 shares
HCTI Weighted Average Shares Outstanding Used In Basic Per Common Share Computations
WeightedAverageSharesOutstandingUsedInBasicPerCommonShareComputations
3548429 shares
HCTI Weighted Average Basic Diluted Eps
WeightedAverageBasicDilutedEps
-0.42 shares
HCTI Weighted Average Basic Diluted Eps
WeightedAverageBasicDilutedEps
-0.11 shares

Files In Submission

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0001607062-23-000398-index-headers.html Edgar Link pending
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