2023 Q3 Form 10-Q Financial Statement

#000149315223027816 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q3
Revenue $782.7K $648.6K $600.8K
YoY Change 30.27% -16.2% 23.99%
Cost Of Revenue $938.2K $596.5K $643.9K
YoY Change 45.7% -30.46% -1.53%
Gross Profit -$155.5K $52.15K -$43.11K
YoY Change 260.71% -162.34% -74.54%
Gross Profit Margin -19.87% 8.04% -7.18%
Selling, General & Admin $116.6K $18.04K
YoY Change
% of Gross Profit 34.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.65K $68.69K $84.29K
YoY Change -51.77% -46.76% -6.07%
% of Gross Profit 131.71%
Operating Expenses $2.552M $2.068M $2.063M
YoY Change 23.74% -18.8% -38.19%
Operating Profit -$2.708M -$2.016M -$2.106M
YoY Change 28.59% -23.36% -39.95%
Interest Expense -$2.380K $1.550K -$900.00
YoY Change 164.44% -23.38% -86.99%
% of Operating Profit
Other Income/Expense, Net $137.2K -$11.13K -$354.1K
YoY Change -138.75% -3690.32% -3609.22%
Pretax Income -$2.573M -$2.025M -$3.136M
YoY Change -17.95% -23.1% -10.49%
Income Tax
% Of Pretax Income
Net Earnings -$2.573M -$2.025M -$3.136M
YoY Change -17.95% -23.1% -10.49%
Net Earnings / Revenue -328.74% -312.26% -521.94%
Basic Earnings Per Share -$2.63
Diluted Earnings Per Share -$3.30 -$2.63 -$4.980M
COMMON SHARES
Basic Shares Outstanding 776.7K shares 769.2K shares 23.67M shares
Diluted Shares Outstanding 770.1K shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.373M $3.280M $8.315M
YoY Change -83.49% -56.4% -23.12%
Cash & Equivalents $1.373M $3.280M $8.315M
Short-Term Investments
Other Short-Term Assets $418.2K $283.3K $547.8K
YoY Change -23.65% -75.88% 17.98%
Inventory $998.1K $1.279M $948.0K
Prepaid Expenses
Receivables $586.9K $216.5K $345.3K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.376M $5.060M $10.16M
YoY Change -66.76% -49.17% -18.27%
LONG-TERM ASSETS
Property, Plant & Equipment $309.6K $360.0K $525.1K
YoY Change -41.05% -41.2% -22.1%
Goodwill
YoY Change
Intangibles $110.0K $117.5K $140.0K
YoY Change -21.43% -61.29%
Long-Term Investments $162.3K $164.3K $169.6K
YoY Change -4.34% -4.05% -3.31%
Other Assets $79.68K $83.73K $77.96K
YoY Change 2.2% -3.48% -2.33%
Total Long-Term Assets $1.065M $1.196M $1.555M
YoY Change -31.54% -50.9% 18.2%
TOTAL ASSETS
Total Short-Term Assets $3.376M $5.060M $10.16M
Total Long-Term Assets $1.065M $1.196M $1.555M
Total Assets $4.441M $6.256M $11.71M
YoY Change -62.08% -49.51% -14.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.904M $1.152M $113.7K
YoY Change 1574.39% 152.44% -66.83%
Accrued Expenses $216.1K $297.5K $706.5K
YoY Change -69.41% -39.57% 157.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $30.80K $35.37K $32.47K
YoY Change -5.14% -8.13% -54.56%
Total Short-Term Liabilities $2.556M $1.879M $1.600M
YoY Change 59.78% 22.81% 38.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $3.800K $34.37K
YoY Change -100.0% -89.57% -45.67%
Other Long-Term Liabilities $47.94K $47.22K $66.48K
YoY Change -27.9% -41.57% 1.04%
Total Long-Term Liabilities $210.2K $214.2K $368.6K
YoY Change -42.97% -68.64% -2.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.556M $1.879M $1.600M
Total Long-Term Liabilities $210.2K $214.2K $368.6K
Total Liabilities $2.767M $2.093M $1.969M
YoY Change 40.54% -5.41% 28.64%
SHAREHOLDERS EQUITY
Retained Earnings -$73.37M -$70.80M -$64.62M
YoY Change 13.54% 15.15% 22.33%
Common Stock $74.93M $74.82M $74.28M
YoY Change 0.87% 4.67% 14.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.674M $4.163M $9.743M
YoY Change
Total Liabilities & Shareholders Equity $4.441M $6.256M $11.71M
YoY Change -62.08% -49.51% -14.78%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q3
OPERATING ACTIVITIES
Net Income -$2.573M -$2.025M -$3.136M
YoY Change -17.95% -23.1% -10.49%
Depreciation, Depletion And Amortization $40.65K $68.69K $84.29K
YoY Change -51.77% -46.76% -6.07%
Cash From Operating Activities -$1.896M -$1.375M -$1.785M
YoY Change 6.24% -9.73% -6.19%
INVESTING ACTIVITIES
Capital Expenditures -$13.76K $18.37K $22.75K
YoY Change -160.48% -137.62% -12.8%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $13.76K -$18.37K $22.76K
YoY Change -39.54% -79.14% -12.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.030K -6.100K 2.648M
YoY Change -100.23% -100.63% -12215.0%
NET CHANGE
Cash From Operating Activities -1.896M -1.375M -1.785M
Cash From Investing Activities 13.76K -18.37K 22.76K
Cash From Financing Activities -6.030K -6.100K 2.648M
Net Change In Cash -1.889M -1.399M 886.3K
YoY Change -313.09% 117.51% -146.69%
FREE CASH FLOW
Cash From Operating Activities -$1.896M -$1.375M -$1.785M
Capital Expenditures -$13.76K $18.37K $22.75K
Free Cash Flow -$1.883M -$1.393M -$1.808M
YoY Change 4.15% -5.5% -6.28%

Facts In Submission

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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payment Of Financing And Stock Issuance Costs
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q2 us-gaap Operating Lease Liability
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q2 us-gaap Operating Lease Liability
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CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
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CY2023Q2 us-gaap Finance Lease Liability
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CY2023Q2 NUZE Sub Lease Liability Payments Due Next Twelve Months
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CY2023Q2 NUZE Minimum Lease Payments To Be Received Sublease
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CY2023Q2 us-gaap Prepaid Expense And Other Assets
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CY2023Q2 us-gaap Inventory Valuation Reserves
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CY2022Q2 us-gaap Inventory Valuation Reserves
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CY2022 NUZE Non Cash Impairment Charges For Acquried Customer
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CY2022Q2 us-gaap Business Acquisitions Pro Forma Revenue
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us-gaap Business Acquisitions Pro Forma Revenue
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us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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154.48
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
174.03
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y11M8D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
50009 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
154.24
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
8883 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
107.79
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
9808 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
253.71
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
31318 shares
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
138.20
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
152398 shares
CY2022Q3 NUZE Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice1
158.24
CY2022 NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsOutstandingWeightedAverageRemainingContractualTerm
P3Y8M12D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
152398 shares
CY2023Q2 NUZE Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice1
158.24
NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Outstanding Weighted Average Remaining Contractual Term Ending Balance
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsOutstandingWeightedAverageRemainingContractualTermEndingBalance
P2Y10M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Other
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOther
152398 shares
NUZE Share Based Compensation Arrangements By Share Based Payment Award Non Options Exercisable In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisableInPeriodWeightedAverageExercisePrice
158.24
NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Outstanding Weighted Average Remaining Contractual Term Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsOutstandingWeightedAverageRemainingContractualTermExercisable
P2Y10M24D
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
150000 usd

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