2023 Q1 Form 10-K Financial Statement

#000182912623001689 Filed on February 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $500.00 $15.00K $15.00K
YoY Change -47.37% -47.37%
Cost Of Revenue
YoY Change
Gross Profit $500.00 $15.00K
YoY Change -44.49%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $127.3K $104.9K $363.3K
YoY Change -6.28% -57.58% 46.94%
% of Gross Profit 25466.2% 2421.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.777K $4.020K $6.367K
YoY Change
% of Gross Profit 1355.4% 42.45%
Operating Expenses $127.3K $104.9K $363.3K
YoY Change -6.28% -57.58% 46.94%
Operating Profit -$126.8K -$348.3K
YoY Change -6.65% 58.16%
Interest Expense -$197.3K -$1.366M
YoY Change -97.93%
% of Operating Profit
Other Income/Expense, Net -$27.08K -$1.366M
YoY Change -98.15% -85.69%
Pretax Income -$153.9K -$287.1K -$1.714M
YoY Change -90.36% -97.06% -82.45%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$153.9K -$287.1K -$1.714M
YoY Change -90.36% -97.06% -82.45%
Net Earnings / Revenue -30782.6% -1914.2% -11426.14%
Basic Earnings Per Share -$0.01 -$0.06
Diluted Earnings Per Share -$0.01 -$0.01 -$0.06
COMMON SHARES
Basic Shares Outstanding 27.94M shares 27.94M shares
Diluted Shares Outstanding 27.94M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $391.8K $521.9K $521.9K
YoY Change -47.98% -77.58% -77.58%
Cash & Equivalents $188.8K $253.0K $253.0K
Short-Term Investments $203.0K $268.9K $268.9K
Other Short-Term Assets $0.00 $30.00K $30.00K
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables $30.00K
Total Short-Term Assets $391.8K $557.0K $557.0K
YoY Change -50.29% -76.12% -76.12%
LONG-TERM ASSETS
Property, Plant & Equipment $159.8K $113.1K $113.1K
YoY Change 1173.35% 683.97% 683.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $203.0K $268.9K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $159.8K $155.6K $155.6K
YoY Change 155.52% 978.58% 978.31%
TOTAL ASSETS
Total Short-Term Assets $391.8K $557.0K $557.0K
Total Long-Term Assets $159.8K $155.6K $155.6K
Total Assets $551.6K $712.6K $712.6K
YoY Change -35.16% -69.64% -69.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.97K $9.690K $9.690K
YoY Change -7.26% -35.96% -35.96%
Accrued Expenses $5.020K $6.900K $6.900K
YoY Change -33.33% -8.37% -8.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.98K $34.11K $34.11K
YoY Change -46.61% 50.51% 50.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.98K $34.11K $34.11K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $26.98K $34.11K $34.11K
YoY Change -51.43% 15.38% 15.39%
SHAREHOLDERS EQUITY
Retained Earnings -$410.0K -$256.1K
YoY Change -117.57%
Common Stock $27.94K $27.94K
YoY Change 0.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 5.100M shares
Shareholders Equity $524.6K $678.5K $678.5K
YoY Change
Total Liabilities & Shareholders Equity $551.6K $712.6K $712.6K
YoY Change -35.16% -69.64% -69.64%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$153.9K -$287.1K -$1.714M
YoY Change -90.36% -97.06% -82.45%
Depreciation, Depletion And Amortization $6.777K $4.020K $6.367K
YoY Change
Cash From Operating Activities -$91.43K -$98.63K -$341.0K
YoY Change 33.37% -30.24% 62.59%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$155.7K -$139.9K $42.98K
YoY Change -360.39% -199.76% -69.36%
Cash From Investing Activities $27.23K -$139.9K $42.98K
YoY Change -54.47% -199.76% -69.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $26.20K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 167.0K $26.20K
YoY Change 1498.18% -670.7%
NET CHANGE
Cash From Operating Activities -$91.43K -98.63K -$341.0K
Cash From Investing Activities $27.23K -139.9K $42.98K
Cash From Financing Activities 167.0K $26.20K
Net Change In Cash -$64.20K -71.56K -$271.8K
YoY Change 26.33% -866.17% 267.18%
FREE CASH FLOW
Cash From Operating Activities -$91.43K -$98.63K -$341.0K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Use Of Estimates
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<p id="xdx_84E_eus-gaap--UseOfEstimates_zivFzD8E1Zc9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_zoZAYWKz1Ka7">Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial statements are prepared on the basis of accounting principles generally accepted in the United States of America, also referred to as U.S. GAAP. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the dates of the balance sheets and the income and expenses for the periods ended as stated in the statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
60626 usd
CY2022 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
-1594716 usd
CY2022 HSTA Investment In Equities Cumulative Impairments
InvestmentInEquitiesCumulativeImpairments
0 usd
CY2022 HSTA Investment In Equities Cumulative Adjustment
InvestmentInEquitiesCumulativeAdjustment
1802988 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
268898 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
-1713921 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
-9766417 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 HSTA Computed Expected Tax Provision Benefit
ComputedExpectedTaxProvisionBenefit
-359923 usd
CY2021 HSTA Computed Expected Tax Provision Benefit
ComputedExpectedTaxProvisionBenefit
-2050947 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
359923 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2050947 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-0 usd
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares

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