2024 Q1 Form 10-Q Financial Statement

#000147793224000627 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $1.983M $1.728M
YoY Change 37.66% 366.69%
Cost Of Revenue $1.198M $1.917M
YoY Change -51.04% 182.53%
Gross Profit $785.7K -$189.4K
YoY Change -178.15% -38.6%
Gross Profit Margin 39.62% -10.96%
Selling, General & Admin $240.0K $202.6K
YoY Change -21.41% -32.98%
% of Gross Profit 30.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $692.7K $745.7K
YoY Change -52.85% 91.26%
% of Gross Profit 88.16%
Operating Expenses $479.9K $324.2K
YoY Change -37.62% 7.28%
Operating Profit $320.5K -$513.6K
YoY Change -118.06% -15.89%
Interest Expense $23.17K $23.88K
YoY Change 168.27% -54.91%
% of Operating Profit 7.23%
Other Income/Expense, Net -$23.17K $159.3K
YoY Change -385.36% -204.13%
Pretax Income $297.3K -$354.3K
YoY Change -116.83% -53.6%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $297.3K -$354.3K
YoY Change -116.83% -53.6%
Net Earnings / Revenue 14.99% -20.5%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share $0.01 -$0.13
COMMON SHARES
Basic Shares Outstanding 5.064M shares 4.000M shares
Diluted Shares Outstanding 18.30M shares 4.229M shares

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $381.9K $27.45K
YoY Change 27.8% -68.41%
Cash & Equivalents $381.9K $27.45K
Short-Term Investments
Other Short-Term Assets $1.634M $4.220K
YoY Change 14256.94% -33.12%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.016M $31.67K
YoY Change 549.82% -66.02%
LONG-TERM ASSETS
Property, Plant & Equipment $3.354M $4.047M
YoY Change -73.93% -72.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $578.2K $578.2K
YoY Change -0.12% -0.12%
Other Assets $788.9K
YoY Change 572.69%
Total Long-Term Assets $3.932M $5.414M
YoY Change -71.46% -65.06%
TOTAL ASSETS
Total Short-Term Assets $2.016M $31.67K
Total Long-Term Assets $3.932M $5.414M
Total Assets $5.948M $5.445M
YoY Change -57.79% -65.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $579.5K $248.5K
YoY Change 227.95% 90.28%
Accrued Expenses $89.99K $117.2K
YoY Change -8.63% -3.02%
Deferred Revenue
YoY Change
Short-Term Debt $500.0K $500.0K
YoY Change 0.0% 1.76%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.306M $3.026M
YoY Change 14.97% 5.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.306M $3.026M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.306M $3.026M
YoY Change 14.97% 5.98%
SHAREHOLDERS EQUITY
Retained Earnings -$82.68M -$82.91M
YoY Change 62.92% 70.28%
Common Stock $5.065K $5.065K
YoY Change 82.19% -97.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.483M -$1.706M
YoY Change
Total Liabilities & Shareholders Equity $5.948M $5.445M
YoY Change -57.79% -65.07%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $297.3K -$354.3K
YoY Change -116.83% -53.6%
Depreciation, Depletion And Amortization $692.7K $745.7K
YoY Change -52.85% 91.26%
Cash From Operating Activities -$902.4K -$1.363M
YoY Change -13.27% 352.93%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.740K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.351M $1.386M
YoY Change 3.77% 461.77%
Cash From Investing Activities $1.351M $1.384M
YoY Change 3.77% 461.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -94.62K -51.50K
YoY Change 89.24%
NET CHANGE
Cash From Operating Activities -902.4K -1.363M
Cash From Investing Activities 1.351M 1.384M
Cash From Financing Activities -94.62K -51.50K
Net Change In Cash 354.4K -30.22K
YoY Change 67.24% -44.23%
FREE CASH FLOW
Cash From Operating Activities -$902.4K -$1.363M
Capital Expenditures $0.00 $1.740K
Free Cash Flow -$902.4K -$1.364M
YoY Change -13.27% 353.51%

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IncreaseDecreaseInAccountsPayable
74640 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
46000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
111776 usd
intv Increase Decrease In Due To Related Party
IncreaseDecreaseInDueToRelatedParty
104083 usd
intv Increase Decrease In Due To Related Party
IncreaseDecreaseInDueToRelatedParty
213637 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2296829 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1193794 usd
us-gaap Payments For Deposits
PaymentsForDeposits
0 usd
us-gaap Payments For Deposits
PaymentsForDeposits
32514 usd
intv Proceeds From Sale Of Digital Currencies
ProceedsFromSaleOfDigitalCurrencies
2403748 usd
intv Proceeds From Sale Of Digital Currencies
ProceedsFromSaleOfDigitalCurrencies
1021232 usd
intv Payments To Acquire Digital Currencies
PaymentsToAcquireDigitalCurrencies
237195 usd
intv Payments To Acquire Digital Currencies
PaymentsToAcquireDigitalCurrencies
198313 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1740 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2164813 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
790405 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
48530 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
50000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-98530 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-230546 usd
intv Converted Series B Preferred Stock Into Common Stock Value
ConvertedSeriesBPreferredStockIntoCommonStockValue
352500 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-403389 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257998 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
490280 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27452 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86891 usd
us-gaap Interest Paid Net
InterestPaidNet
50914 usd
us-gaap Interest Paid Net
InterestPaidNet
197 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
intv Equipment Deposits Transferred To Property And Equipment
EquipmentDepositsTransferredToPropertyAndEquipment
2387681 usd
intv Issuance Of Common Stock For Purchase Of Bitcoin Miners
IssuanceOfCommonStockForPurchaseOfBitcoinMiners
309300 usd
intv Issuance Of Common Stock For Purchase Of Bitcoin Miners
IssuanceOfCommonStockForPurchaseOfBitcoinMiners
0 usd
intv Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
415594 usd
intv Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
785542 usd
intv Preferred Stock Converted For Common Stock
PreferredStockConvertedForCommonStock
2001 usd
intv Preferred Stock Converted For Common Stock
PreferredStockConvertedForCommonStock
19000 usd
intv Digital Currency Paid To Related Party
DigitalCurrencyPaidToRelatedParty
371357 usd
intv Digital Currency Paid To Related Party
DigitalCurrencyPaidToRelatedParty
0 usd
intv Payment To Acquire Property And Equipment With Digital Currencies
PaymentToAcquirePropertyAndEquipmentWithDigitalCurrencies
36750 usd
intv Payment To Acquire Property And Equipment With Digital Currencies
PaymentToAcquirePropertyAndEquipmentWithDigitalCurrencies
0 usd
intv Stock And Warrant Issued During Period New Issues
StockAndWarrantIssuedDuringPeriodNewIssues
0 usd
intv Stock And Warrant Issued During Period New Issues
StockAndWarrantIssuedDuringPeriodNewIssues
24425 usd
intv Deemed Dividend For Warrant Modification
DeemedDividendForWarrantModification
0 usd
intv Deemed Dividend For Warrant Modification
DeemedDividendForWarrantModification
162037 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;font-family:times new roman;margin:0px">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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</p>
intv Compensation Expense Durinng The Year
CompensationExpenseDurinngTheYear
8525000 usd
intv Compensation Expense Durinng The Year
CompensationExpenseDurinngTheYear
577500 usd
intv Agreement Term
AgreementTerm
P36M
CY2023Q4 intv Gain Loss On Disposition Of Digital Currencies Amount
GainLossOnDispositionOfDigitalCurrenciesAmount
183146 usd
CY2022Q4 intv Gain Loss On Disposition Of Digital Currencies Amount
GainLossOnDispositionOfDigitalCurrenciesAmount
-43899 usd
intv Gain Loss On Disposition Of Digital Currencies Amount
GainLossOnDispositionOfDigitalCurrenciesAmount
162691 usd
intv Gain Loss On Disposition Of Digital Currencies Amount
GainLossOnDispositionOfDigitalCurrenciesAmount
-67914 usd
CY2023Q4 intv Revenue From Cryptocurrency Mining
RevenueFromCryptocurrencyMining
1728108 usd
CY2022Q4 intv Revenue From Cryptocurrency Mining
RevenueFromCryptocurrencyMining
370292 usd
intv Revenue From Cryptocurrency Mining
RevenueFromCryptocurrencyMining
2787172 usd
intv Revenue From Cryptocurrency Mining
RevenueFromCryptocurrencyMining
925657 usd
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-121670 usd
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-46715 usd
intv Description Of Compensastion
DescriptionOfCompensastion
Mr. Rubakh’s annual salary was $250,000 ($62,500 quarterly). In addition, $100,000 of bonuses ($50,000 quarterly) were approved by the Board of Directors. Last, the Company issued to Mr. Rubakh 50,000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain amounts in the financial statements for prior year periods have been reclassified to conform to the presentation for the current year periods.</p>
intv Converted Series B Preferred Stock Into Common Stock Value
ConvertedSeriesBPreferredStockIntoCommonStockValue
8300000 usd
intv Description Of Compensastion
DescriptionOfCompensastion
Mr. Rubakh’s annual salary was $250,000 ($62,500 quarterly). In addition, $100,000 of bonuses ($50,000 quarterly) were approved by the Board of Directors. Last, the Company issued to Mr. Rubakh 100,000 shares
CY2023Q4 intv Net Current Liabilities Exceeded Current Assets
NetCurrentLiabilitiesExceededCurrentAssets
2994375 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-82906978 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8945483 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8908036 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4898813 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3608202 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4046670 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5299834 usd
CY2023Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
745720 usd
CY2022Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
389901 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1479284 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
822106 usd
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-121670 usd
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-46715 usd
intv Number Of Warrants Exercise
NumberOfWarrantsExercise
88000 shares
intv Cash Less Exercise Of Warrants
CashLessExerciseOfWarrants
240000 shares
CY2022Q3 intv Dividend Due
DividendDue
162037 usd
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
195395 shares
intv Number Of Warrants Exercise
NumberOfWarrantsExercise
200000 shares

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