2024 Q3 Form 10-Q Financial Statement

#000187901624000013 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $671.0K $538.0K
YoY Change 180.75% -59.06%
Cost Of Revenue $256.0K $192.0K
YoY Change -6.91% -84.71%
Gross Profit $415.0K $346.0K
YoY Change -1252.78% 496.55%
Gross Profit Margin 61.85% 64.31%
Selling, General & Admin $10.91M $10.80M
YoY Change -4.94% -15.35%
% of Gross Profit 2629.88% 3120.23%
Research & Development $871.0K $842.0K
YoY Change -30.15% -60.62%
% of Gross Profit 209.88% 243.35%
Depreciation & Amortization $494.0K $713.0K
YoY Change 17.9% 5.79%
% of Gross Profit 119.04% 206.07%
Operating Expenses $11.79M $11.64M
YoY Change -7.41% -21.85%
Operating Profit -$41.83M -$48.55M
YoY Change -10.95% 2.45%
Interest Expense -$972.0K -$387.0K
YoY Change -97.3% -129.45%
% of Operating Profit
Other Income/Expense, Net -$99.00K -$12.00K
YoY Change -70.62% -101.09%
Pretax Income -$47.12M -$51.52M
YoY Change -43.4% 14.55%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$47.12M -$51.52M
YoY Change -43.4% 14.88%
Net Earnings / Revenue -7022.95% -9576.39%
Basic Earnings Per Share $0.36 $0.39
Diluted Earnings Per Share $0.36 $0.39
COMMON SHARES
Basic Shares Outstanding 120.4M shares 120.3M shares
Diluted Shares Outstanding 120.4M shares 120.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.07M $133.8M
YoY Change -67.45% 109.73%
Cash & Equivalents $81.07M $133.8M
Short-Term Investments
Other Short-Term Assets $20.89M $5.070M
YoY Change 356.31% -15.17%
Inventory $0.00 $5.507M
Prepaid Expenses
Receivables $2.774M $2.618M
Other Receivables $0.00 $0.00
Total Short-Term Assets $104.7M $147.0M
YoY Change -59.84% 92.07%
LONG-TERM ASSETS
Property, Plant & Equipment $7.106M $8.955M
YoY Change 51.9% 124.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.48M $37.45M
YoY Change -24.16% 265.25%
Other Assets $5.244M $5.697M
YoY Change -35.66% -35.79%
Total Long-Term Assets $270.7M $269.3M
YoY Change -0.52% 15.45%
TOTAL ASSETS
Total Short-Term Assets $104.7M $147.0M
Total Long-Term Assets $270.7M $269.3M
Total Assets $375.4M $416.3M
YoY Change -29.55% 34.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.51M $21.41M
YoY Change -34.12% -10.21%
Accrued Expenses $856.0K $1.136M
YoY Change 37.4% 47.92%
Deferred Revenue $0.00 $2.700M
YoY Change -100.0% -3.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $16.10M $14.96M
YoY Change -56.54% -57.35%
Total Short-Term Liabilities $41.93M $40.20M
YoY Change -32.89% -35.69%
LONG-TERM LIABILITIES
Long-Term Debt $66.51M $65.84M
YoY Change -12.24% -12.52%
Other Long-Term Liabilities $593.0K $594.0K
YoY Change -25.88% -22.56%
Total Long-Term Liabilities $593.0K $594.0K
YoY Change -25.88% -22.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.93M $40.20M
Total Long-Term Liabilities $593.0K $594.0K
Total Liabilities $115.2M $113.1M
YoY Change -20.08% -20.88%
SHAREHOLDERS EQUITY
Retained Earnings -$547.0M -$503.8M
YoY Change 54.38% 82.23%
Common Stock $799.5M $795.5M
YoY Change 7.39% 81.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $250.1M $289.2M
YoY Change
Total Liabilities & Shareholders Equity $375.4M $416.3M
YoY Change -29.55% 34.39%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$47.12M -$51.52M
YoY Change -43.4% 14.88%
Depreciation, Depletion And Amortization $494.0K $713.0K
YoY Change 17.9% 5.79%
Cash From Operating Activities -$36.89M -$44.54M
YoY Change -10.33% 24.38%
INVESTING ACTIVITIES
Capital Expenditures $10.06M $844.0K
YoY Change 44.01% -97.76%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$405.0K
YoY Change -100.0% -32.84%
Cash From Investing Activities -$10.06M -$1.249M
YoY Change -86.37% -96.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 135.0K 1.074M
YoY Change -99.96% -96.5%
NET CHANGE
Cash From Operating Activities -36.89M -44.54M
Cash From Investing Activities -10.06M -1.249M
Cash From Financing Activities 135.0K 1.074M
Net Change In Cash -46.81M -44.72M
YoY Change -125.25% 3.11%
FREE CASH FLOW
Cash From Operating Activities -$36.89M -$44.54M
Capital Expenditures $10.06M $844.0K
Free Cash Flow -$46.95M -$45.39M
YoY Change -2.45% -38.18%

Facts In Submission

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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ProfitLoss
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us-gaap Depreciation Depletion And Amortization
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ShareBasedCompensation
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ShareBasedCompensation
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InterestExpense
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us-gaap Cash Acquired From Acquisition
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us-gaap Proceeds From Minority Shareholders
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26380000 usd
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us-gaap Proceeds From Stock Options Exercised
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694000 usd
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us-gaap Net Cash Provided By Used In Financing Activities
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27074000 usd
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1143000 usd
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us-gaap Notes Issued1
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us-gaap Notes Issued1
NotesIssued1
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IssuanceOfCommonStockKaizenArrangement
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us-gaap Stock Issued1
StockIssued1
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CY2023Q4 us-gaap Investments
Investments
39130000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
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IncomeLossFromEquityMethodInvestments
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PaymentsForAssetAcquisitions
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InvestmentsForeignCurrencyTranslation
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CY2024Q2 us-gaap Investments
Investments
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MineralPropertiesNet
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MineralPropertiesForeignCurrencyTranslationAdjustments
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CY2024Q2 us-gaap Mineral Properties Net
MineralPropertiesNet
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NotesPayable
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us-gaap Interest Expense Debt
InterestExpenseDebt
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NotesPayable
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NotesPayableCurrent
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CY2024Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
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CY2024Q2 us-gaap Notes Payable
NotesPayable
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CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4069000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5431000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7414000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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RevenueFromContractWithCustomerIncludingAssessedTax
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RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1993000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2700000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
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CY2024Q2 us-gaap Exploration Expense
ExplorationExpense
37254000 usd
CY2023Q2 us-gaap Exploration Expense
ExplorationExpense
32551000 usd
us-gaap Exploration Expense
ExplorationExpense
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us-gaap Exploration Expense
ExplorationExpense
59110000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment

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