$HOUR
Hour Loop, Inc

2023 Q3 Form 10-Q Financial Statement

#000149315223027403 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $29.15M $22.42M $14.80M
YoY Change 66.05% 51.46% 27.12%
Cost Of Revenue $13.82M $11.06M $6.444M
YoY Change 72.75% 71.63% 32.99%
Gross Profit $15.33M $11.36M $8.357M
YoY Change 60.44% 35.91% 22.93%
Gross Profit Margin 52.59% 50.66% 56.46%
Selling, General & Admin $15.31M $12.20M $8.756M
YoY Change 60.87% 39.37% 52.83%
% of Gross Profit 99.88% 107.45% 104.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00K $33.97K $14.10K
YoY Change 71.53% 140.92%
% of Gross Profit 0.2% 0.3% 0.17%
Operating Expenses $15.31M $12.20M $8.756M
YoY Change 60.87% 39.37% 52.83%
Operating Profit $17.99K -$846.3K -$399.7K
YoY Change -51.01% 111.77% -137.4%
Interest Expense -$60.00K -$62.39K $20.57K
YoY Change -362.28% -403.35% 99.14%
% of Operating Profit -333.57%
Other Income/Expense, Net $4.505K -$44.01K -$10.76K
YoY Change -96.44% 309.15% -128.3%
Pretax Income $22.49K -$890.4K -$410.4K
YoY Change -86.22% 116.94% -137.09%
Income Tax $37.55K -$121.0K -$97.01K
% Of Pretax Income 166.94%
Net Earnings -$15.06K -$769.4K -$313.4K
YoY Change -110.02% 145.49% -128.32%
Net Earnings / Revenue -0.05% -3.43% -2.12%
Basic Earnings Per Share $0.00 -$0.02 -$0.01
Diluted Earnings Per Share $0.00 -$0.02 -$8.970K
COMMON SHARES
Basic Shares Outstanding 35.07M shares 35.06M shares 34.94M shares
Diluted Shares Outstanding 35.06M shares 35.06M shares 34.94M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $560.0K $1.119M $2.306M
YoY Change -67.14% -51.5% -10.55%
Cash & Equivalents $562.6K $1.119M $2.306M
Short-Term Investments
Other Short-Term Assets $16.95K $6.002K $28.28K
YoY Change -87.45% -78.78% -89.73%
Inventory $23.73M $14.42M $14.60M
Prepaid Expenses $395.3K
Receivables $737.2K $322.3K $151.6K
Other Receivables $360.0K $413.9K $119.3K
Total Short-Term Assets $26.18M $16.73M $17.89M
YoY Change 8.25% -6.49% 101.46%
LONG-TERM ASSETS
Property, Plant & Equipment $175.1K $208.3K $156.3K
YoY Change -26.54% 33.24% 137.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.060M $1.095M $325.0K
YoY Change 239.53% 236.97%
Total Long-Term Assets $1.428M $1.598M $966.4K
YoY Change 33.55% 65.37% 1369.19%
TOTAL ASSETS
Total Short-Term Assets $26.18M $16.73M $17.89M
Total Long-Term Assets $1.428M $1.598M $966.4K
Total Assets $27.61M $18.33M $18.86M
YoY Change 9.33% -2.8% 110.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.91M $7.449M $5.359M
YoY Change 53.53% 39.0% 78.0%
Accrued Expenses $147.6K $117.4K $502.4K
YoY Change -59.74% -76.63% -43.81%
Deferred Revenue
YoY Change
Short-Term Debt $620.0K $643.3K $0.00
YoY Change -1.73%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.60M $9.288M $11.34M
YoY Change 5.76% -18.09% 131.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.180M $4.186M $184.7K
YoY Change 2662.54% 2166.34%
Total Long-Term Liabilities $4.176M $4.186M $184.7K
YoY Change 2659.91% 2166.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.60M $9.288M $11.34M
Total Long-Term Liabilities $4.176M $4.186M $184.7K
Total Liabilities $22.78M $13.47M $11.52M
YoY Change 28.4% 16.92% 135.05%
SHAREHOLDERS EQUITY
Retained Earnings -$842.6K -$827.5K $1.696M
YoY Change -145.63% -148.78%
Common Stock $3.507K $3.507K $3.504K
YoY Change 0.06% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.828M $4.855M $7.333M
YoY Change
Total Liabilities & Shareholders Equity $27.61M $18.33M $18.86M
YoY Change 9.33% -2.8% 110.78%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$15.06K -$769.4K -$313.4K
YoY Change -110.02% 145.49% -128.32%
Depreciation, Depletion And Amortization $30.00K $33.97K $14.10K
YoY Change 71.53% 140.92%
Cash From Operating Activities -$370.0K -$294.4K -$5.323M
YoY Change -71.07% -94.47% -668.5%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $2.500K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$38.70K
YoY Change
Cash From Investing Activities $0.00 -$2.500K -$38.70K
YoY Change -100.0% -93.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -160.0K 159.0K 0.000
YoY Change -121.15% -100.0%
NET CHANGE
Cash From Operating Activities -370.0K -294.4K -5.323M
Cash From Investing Activities 0.000 -2.500K -38.70K
Cash From Financing Activities -160.0K 159.0K 0.000
Net Change In Cash -530.0K -137.9K -5.361M
YoY Change -15.4% -97.43% 348.6%
FREE CASH FLOW
Cash From Operating Activities -$370.0K -$294.4K -$5.323M
Capital Expenditures $0.00 $2.500K
Free Cash Flow -$370.0K -$296.9K
YoY Change

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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
4854724 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
7618345 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
30001 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1626 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-313407 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
7333313 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
6832856 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
34333 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
7853 usd
us-gaap Net Income Loss
NetIncomeLoss
-2004612 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
4854724 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
2654445 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5580192 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
61013 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
4042 usd
us-gaap Net Income Loss
NetIncomeLoss
-958295 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
7333313 usd
us-gaap Net Income Loss
NetIncomeLoss
-2004612 usd
us-gaap Net Income Loss
NetIncomeLoss
-958295 usd
us-gaap Depreciation
Depreciation
68634 usd
us-gaap Depreciation
Depreciation
22498 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
179774 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
124570 usd
HOUR Deferred Tax Assets
DeferredTaxAssets
545938 usd
HOUR Deferred Tax Assets
DeferredTaxAssets
279542 usd
us-gaap Inventory Write Down
InventoryWriteDown
211979 usd
us-gaap Inventory Write Down
InventoryWriteDown
169192 usd
us-gaap Share Based Compensation
ShareBasedCompensation
34333 usd
us-gaap Share Based Compensation
ShareBasedCompensation
61013 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-30045 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
25616 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4171808 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7745521 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
130528 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-191294 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4434412 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4180324 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-813678 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
48803 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-191845 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-98930 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3424440 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12670858 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5881 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
164174 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5881 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-164174 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1024188 usd
HOUR Deferred Initial Public Offering Expenses
DeferredInitialPublicOfferingExpenses
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us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
6156360 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4556005 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-13597 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-7115 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3443918 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8286142 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4562589 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10592572 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1118671 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2306430 usd
us-gaap Interest Paid Net
InterestPaidNet
167017 usd
HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
28407 usd
HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
606443 usd
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q2 us-gaap Plan Of Reorganization Dates Plan Is Effective
PlanOfReorganizationDatesPlanIsEffective
2021-07-27
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
4170418 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.02 pure
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3424440 usd
us-gaap Net Income Loss
NetIncomeLoss
-2004612 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_z0dDEotGX1k9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zxS6unPtlwB2">Use of Estimates</span></b> - The preparation of 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 revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates, including but not limited to, estimates associated with the collectability of allowance for accounts receivable, accounts receivable, useful life of property and equipment, impairment long lived assets, valuation allowance for deferred tax assets and inventory valuation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_846_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zzDDTkIJQXej" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zEcYr3LVMDSj">Reclassification</span> </b>- Certain amounts in the consolidated financial statements for the prior financials have been reclassified to conform to the current interim review presentation. These reclassifications had no impact on consolidated net earnings, consolidated financial position, or consolidated cash flows. Additionally, proposed changes involve presenting accrued interest as a current liability, along with its impact on consolidated cash flows, and adjustments were made for the six months ended June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1054242 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
2500 usd
CY2023Q2 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
HOUR Sales Return Rate
SalesReturnRate
0.0677 pure
HOUR Sales Return Rate
SalesReturnRate
0.0636 pure
HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
10312496 usd
HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
5800777 usd
CY2023Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
288466 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
288466 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zvPPAr9NoRS6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_z3ohLTGBPDfi">Concentrations of Risks</span></b> - Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company maintains cash with various domestic and foreign financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of the aforementioned institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s accounts receivable are derived from sales contracts with a large number of customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those which represent more than 10% of the Company’s total net revenue or gross accounts receivable balance at the balance sheet date. <span id="xdx_90C_eus-gaap--ConcentrationRiskCustomer_c20230101__20230630_z7xzyTzLO3eh" title="Concentration risk customer">During the three and six months ended June 30, 2023 and 2022, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of June 30, 2023 and 2022, the Company had no customer that accounted for 10% or more of gross accounts receivable.</span> As of June 30, 2023 and December 31, 2022, all of the Company’s accounts receivable were held by the Company’s sales platform agent, Amazon, which collects money on the Company’s behalf from its customers. Therefore, the Company’s accounts receivable are comprised of receivables due from Amazon and the reimbursement from Amazon to the Company usually takes 15 to 20 days.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s business is reliant on one key vendor which currently provides the Company with its sales platform, logistics and fulfillment operations, including certain warehousing for the Company’s net goods, and invoicing and collection of its revenue from the Company’s end customers. During the three and six months ended June 30, 2023 and 2022, approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zRVENovFimvi" title="Concentration risk percentage"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zuyBYDRvigT8" title="Concentration risk percentage">100</span></span>% of the Company’s revenue was through or with the Amazon sales platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
During the three and six months ended June 30, 2023 and 2022, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of June 30, 2023 and 2022, the Company had no customer that accounted for 10% or more of gross accounts receivable.
us-gaap Advertising Expense
AdvertisingExpense
1567126 usd
us-gaap Advertising Expense
AdvertisingExpense
935302 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
208297 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
274195 usd
CY2023Q2 us-gaap Cash And Due From Banks
CashAndDueFromBanks
717657 usd
CY2022Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
939323 usd
CY2023Q2 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
401014 usd
CY2022Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
3623266 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1118671 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4562589 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5881 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
339518 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
68634 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
79084 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
13201512 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
14911735 usd
CY2023Q2 us-gaap Other Inventory In Transit
OtherInventoryInTransit
2270472 usd
CY2022Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
4732057 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1054242 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
14417742 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
18801529 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
HOUR Inventory Provision
InventoryProvision
211979 usd
CY2022 HOUR Inventory Provision
InventoryProvision
665356 usd
CY2022 HOUR Inventory Write Off
InventoryWriteOff
7813 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1054242 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
354505 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
353574 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
146208 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
79379 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
468209 usd
HOUR Disposal Or Pledge
DisposalOrPledge
0 usd
CY2022 HOUR Disposal Or Pledge
DisposalOrPledge
0 usd
CY2023Q2 us-gaap Supplies
Supplies
205014 usd
CY2022Q4 us-gaap Supplies
Supplies
182105 usd
CY2023Q2 us-gaap Prepaid Insurance
PrepaidInsurance
84673 usd
CY2023Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
85970 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
55731 usd
CY2023Q2 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
76217 usd
CY2022Q4 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
80235 usd
CY2023Q2 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
6002 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
9277 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
871771 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
741243 usd
CY2023Q2 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2023Q2 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
288466 usd
CY2022Q4 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
288466 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
255003 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
295673 usd
CY2023Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
109544 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
117412 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
182294 usd
CY2023Q2 us-gaap Interest And Dividends Payable Current
InterestAndDividendsPayableCurrent
113764 usd
CY2022Q4 us-gaap Interest And Dividends Payable Current
InterestAndDividendsPayableCurrent
159042 usd
CY2023Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
45105 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
349288 usd
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
929294 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1742972 usd
CY2023Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
78947 usd
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
78947 usd
CY2023Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
109544 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
468209 usd
CY2023Q2 us-gaap Loans Payable
LoansPayable
4170418 usd
us-gaap Interest Expense
InterestExpense
113764 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
266672 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
385216 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15508 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
64945 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
294678 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
450721 usd
HOUR Noncash Lease Expenses
NoncashLeaseExpenses
179774 usd
HOUR Noncash Lease Expenses
NoncashLeaseExpenses
124570 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
191845 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
98390 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
204461 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
82191 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2415 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
289067 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6887 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
282180 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
266672 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15508 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2193 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0385 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0383 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2578 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2483 pure
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-464349 usd
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-464349 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-81589 usd
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-81589 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-545938 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-545938 usd
CY2023Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1095258 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
549320 usd
CY2023Q2 HOUR Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
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CY2022Q4 HOUR Deferred Tax Assets Right Of Use Asset
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CY2022Q2 HOUR Revenue Gross
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HOUR Revenue Gross
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CY2022Q2 HOUR Sales Returns
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HOUR Sales Returns
SalesReturns
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HOUR Sales Returns
SalesReturns
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CY2023Q2 HOUR Discounts
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481997 usd
CY2022Q2 HOUR Discounts
Discounts
151407 usd
HOUR Discounts
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LegalFees
182490 usd
CY2022Q2 us-gaap Legal Fees
LegalFees
320166 usd
us-gaap Legal Fees
LegalFees
288095 usd
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LegalFees
570963 usd
CY2023Q2 us-gaap General Insurance Expense
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140450 usd
CY2022Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
115201 usd
us-gaap General Insurance Expense
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277831 usd
us-gaap General Insurance Expense
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CY2023Q2 us-gaap Operating Lease Expense
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107034 usd
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220276 usd
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10705 usd
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72166 usd
us-gaap Taxes Other
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21051 usd
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153181 usd
CY2023Q2 HOUR Outside Services Expense
OutsideServicesExpense
69436 usd
CY2022Q2 HOUR Outside Services Expense
OutsideServicesExpense
62253 usd
HOUR Outside Services Expense
OutsideServicesExpense
105376 usd
HOUR Outside Services Expense
OutsideServicesExpense
132920 usd
CY2023Q2 us-gaap Franchisor Costs
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36000 usd
us-gaap Franchisor Costs
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86194 usd
us-gaap Franchisor Costs
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CY2023Q2 us-gaap Pension Expense
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3132 usd
CY2022Q2 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
17898 usd
HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
4915 usd
HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
52185 usd
CY2023Q2 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
49558 usd
CY2022Q2 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
26329 usd
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GeneralAndAdministrativeSoftwareSubscriptionsExpense
91483 usd
HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
44172 usd
CY2022Q2 HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
22351 usd
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ManpowerRecruitmentAdvertisingExpense
39029 usd
CY2022Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
14452 usd
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
388 usd
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
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OtherGeneralAndAdministrativeExpense
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CY2022Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
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us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
165357 usd
us-gaap Other General And Administrative Expense
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GeneralAndAdministrativeExpense
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300000000 shares
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300000000 shares
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CommonStockSharesOutstanding
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CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35047828 shares

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