2023 Q2 Form 10-Q Financial Statement
#000106299323010765 Filed on May 11, 2023
Income Statement
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| Revenue | $133.0K | $162.0K | $237.0K |
| YoY Change | -66.58% | -31.65% | -17.13% |
| Cost Of Revenue | $437.0K | $472.0K | $470.0K |
| YoY Change | -9.34% | 0.43% | -24.32% |
| Gross Profit | -$304.0K | -$310.0K | -$233.0K |
| YoY Change | 261.9% | 33.05% | -30.45% |
| Gross Profit Margin | -228.57% | -191.36% | -98.31% |
| Selling, General & Admin | $1.218M | $1.295M | $1.084M |
| YoY Change | 9.04% | 19.46% | 16.68% |
| % of Gross Profit | |||
| Research & Development | $814.0K | $822.0K | $798.0K |
| YoY Change | 3.43% | 3.01% | 69.43% |
| % of Gross Profit | |||
| Depreciation & Amortization | $195.0K | $192.0K | $195.0K |
| YoY Change | -0.51% | -1.54% | 1.56% |
| % of Gross Profit | |||
| Operating Expenses | $2.664M | $2.781M | $2.077M |
| YoY Change | 3.18% | 33.9% | -6.15% |
| Operating Profit | -$2.531M | -$2.619M | -$2.310M |
| YoY Change | 15.89% | 13.38% | 19.88% |
| Interest Expense | $346.0K | $319.0K | -$376.0K |
| YoY Change | -13.5% | -184.84% | -212.57% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$333.0K | -$305.0K | -$376.0K |
| YoY Change | -16.75% | -18.88% | 12.57% |
| Pretax Income | -$2.864M | -$2.924M | -$2.686M |
| YoY Change | 10.84% | 8.86% | 18.8% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$2.864M | -$2.924M | -$2.686M |
| YoY Change | 10.84% | 8.86% | 18.8% |
| Net Earnings / Revenue | -2153.38% | -1804.94% | -1133.33% |
| Basic Earnings Per Share | -$0.02 | -$0.02 | -$0.02 |
| Diluted Earnings Per Share | -$0.02 | -$0.02 | -$17.37K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 174.6M shares | 174.6M shares | 154.6M shares |
| Diluted Shares Outstanding | 174.7M shares | 174.6M shares | 154.6M shares |
Balance Sheet
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $1.252M | $3.840M | $10.25M |
| YoY Change | -82.06% | -62.53% | 418.15% |
| Cash & Equivalents | $478.0K | $2.520M | $6.614M |
| Short-Term Investments | $774.0K | $1.320M | $3.635M |
| Other Short-Term Assets | $424.0K | $406.0K | $340.0K |
| YoY Change | 32.09% | 19.41% | -8.6% |
| Inventory | $83.00K | $70.00K | $88.00K |
| Prepaid Expenses | $225.0K | $212.0K | |
| Receivables | $698.0K | $590.0K | $754.0K |
| Other Receivables | $207.0K | $196.0K | $225.0K |
| Total Short-Term Assets | $2.664M | $5.102M | $11.66M |
| YoY Change | -67.47% | -56.23% | 228.06% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $4.248M | $4.318M | $6.124M |
| YoY Change | -12.66% | -29.49% | -4.86% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $250.0K | $245.0K | $256.0K |
| YoY Change | -2.72% | -4.3% | 0.39% |
| Total Long-Term Assets | $5.160M | $5.239M | $6.380M |
| YoY Change | -13.99% | -17.88% | -4.66% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $2.664M | $5.102M | $11.66M |
| Total Long-Term Assets | $5.160M | $5.239M | $6.380M |
| Total Assets | $7.824M | $10.34M | $18.04M |
| YoY Change | -44.86% | -42.66% | 76.05% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.799M | $2.514M | $2.351M |
| YoY Change | 41.51% | 6.93% | 20.63% |
| Accrued Expenses | $246.0K | $238.0K | $252.0K |
| YoY Change | 0.41% | -5.56% | 75.0% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $4.327M |
| YoY Change | -100.0% | 21.78% | |
| Long-Term Debt Due | $8.500M | $8.500M | $37.00K |
| YoY Change | 22872.97% | 42.31% | |
| Total Short-Term Liabilities | $11.60M | $11.29M | $7.105M |
| YoY Change | 413.14% | 58.89% | 22.14% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $9.713M |
| YoY Change | -100.0% | -100.0% | |
| Other Long-Term Liabilities | $333.0K | $375.0K | $604.0K |
| YoY Change | -38.33% | -37.91% | 30.45% |
| Total Long-Term Liabilities | $0.00 | $0.00 | $10.32M |
| YoY Change | -100.0% | -100.0% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $11.60M | $11.29M | $7.105M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $10.32M |
| Total Liabilities | $16.98M | $16.65M | $17.42M |
| YoY Change | 35.36% | -4.41% | 31.13% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$74.32M | -$71.45M | |
| YoY Change | 17.76% | ||
| Common Stock | $1.000K | $1.000K | |
| YoY Change | 0.0% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$9.155M | -$6.313M | $614.0K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $7.824M | $10.34M | $18.04M |
| YoY Change | -44.86% | -42.66% | 76.05% |
Cashflow Statement
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.864M | -$2.924M | -$2.686M |
| YoY Change | 10.84% | 8.86% | 18.8% |
| Depreciation, Depletion And Amortization | $195.0K | $192.0K | $195.0K |
| YoY Change | -0.51% | -1.54% | 1.56% |
| Cash From Operating Activities | -$2.311M | -$2.262M | -$2.287M |
| YoY Change | -11.01% | -1.09% | 55.68% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $23.00K | $74.00K | -$64.00K |
| YoY Change | -45.24% | -215.63% | -633.33% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $575.0K | $0.00 | $2.019M |
| YoY Change | -128.2% | -100.0% | 222.01% |
| Cash From Investing Activities | $552.0K | -$74.00K | $1.955M |
| YoY Change | -126.53% | -103.79% | 217.89% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -$9.000K | $3.648M | 2.991M |
| YoY Change | 0.0% | 21.97% | 137.95% |
| NET CHANGE | |||
| Cash From Operating Activities | -$2.311M | -$2.262M | -2.287M |
| Cash From Investing Activities | $552.0K | -$74.00K | 1.955M |
| Cash From Financing Activities | -$9.000K | $3.648M | 2.991M |
| Net Change In Cash | -$1.768M | $1.312M | 2.659M |
| YoY Change | -62.28% | -50.66% | 559.8% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.311M | -$2.262M | -$2.287M |
| Capital Expenditures | $23.00K | $74.00K | -$64.00K |
| Free Cash Flow | -$2.334M | -$2.336M | -$2.223M |
| YoY Change | -11.56% | 5.08% | 50.1% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q1 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
| CY2023Q1 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
| CY2023Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
11000 | usd |
