2022 Q1 Form 10-Q Financial Statement

#000110465922061311 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $125.0K $242.1K
YoY Change -48.36%
Cost Of Revenue $125.0K $242.1K
YoY Change -48.36%
Gross Profit $0.00 $0.00
YoY Change
Gross Profit Margin 0.0% 0.0%
Selling, General & Admin $1.072M $663.3K
YoY Change 61.68% 14.36%
% of Gross Profit
Research & Development $828.5K $260.9K
YoY Change 217.6% -25.46%
% of Gross Profit
Depreciation & Amortization $44.19K $29.52K
YoY Change 49.72% -1.62%
% of Gross Profit
Operating Expenses $1.901M $924.1K
YoY Change 105.7% -0.63%
Operating Profit -$1.901M -$924.1K
YoY Change 105.7% -0.63%
Interest Expense $3.716K $6.00
YoY Change 61833.33%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.905M -$920.0K
YoY Change 107.03% -1.08%
Income Tax
% Of Pretax Income
Net Earnings -$1.905M -$924.2K
YoY Change 106.1% -0.68%
Net Earnings / Revenue -1523.62% -381.78%
Basic Earnings Per Share -$0.31 -$0.17
Diluted Earnings Per Share -$0.31 -$0.17
COMMON SHARES
Basic Shares Outstanding 6.155M 5.344M
Diluted Shares Outstanding 6.155M 5.344M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.73M $26.79M
YoY Change -18.9% 1106.76%
Cash & Equivalents $21.73M $26.79M
Short-Term Investments
Other Short-Term Assets $120.9K $170.0K
YoY Change -28.88% -32.0%
Inventory
Prepaid Expenses
Receivables $262.1K $130.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.11M $27.09M
YoY Change -18.39% 996.76%
LONG-TERM ASSETS
Property, Plant & Equipment $59.81K $60.00K
YoY Change -0.32% -77.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.19K $10.00K
YoY Change 11.89% -50.0%
Total Long-Term Assets $2.399M $2.080M
YoY Change 15.35% 9.47%
TOTAL ASSETS
Total Short-Term Assets $22.11M $27.09M
Total Long-Term Assets $2.399M $2.080M
Total Assets $24.51M $29.17M
YoY Change -15.98% 567.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $380.0K $110.0K
YoY Change 245.48% -21.43%
Accrued Expenses $315.8K $480.0K
YoY Change -34.21% -5.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $756.1K $590.0K
YoY Change 28.15% -9.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $90.00K
YoY Change -100.0%
Other Long-Term Liabilities $1.175M $940.0K
YoY Change 24.95% 44.62%
Total Long-Term Liabilities $1.175M $1.030M
YoY Change 14.03% 58.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $756.1K $590.0K
Total Long-Term Liabilities $1.175M $1.030M
Total Liabilities $1.931M $1.620M
YoY Change 19.17% 25.58%
SHAREHOLDERS EQUITY
Retained Earnings -$81.81M
YoY Change
Common Stock $5.905K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.21K
YoY Change
Treasury Stock Shares $1.321K
Shareholders Equity $22.58M $27.54M
YoY Change
Total Liabilities & Shareholders Equity $24.51M $29.17M
YoY Change -15.98% 567.51%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.905M -$924.2K
YoY Change 106.1% -0.68%
Depreciation, Depletion And Amortization $44.19K $29.52K
YoY Change 49.72% -1.62%
Cash From Operating Activities -$1.417M -$843.3K
YoY Change 68.04% 4.12%
INVESTING ACTIVITIES
Capital Expenditures $11.03K $1.462K
YoY Change 654.51% -107.31%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$27.62K -$30.74K
YoY Change -10.15% 53.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $21.20M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 24.51M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.417M -843.3K
Cash From Investing Activities -27.62K -30.74K
Cash From Financing Activities 0.000 24.51M
Net Change In Cash -1.445M 23.63M
YoY Change -106.11% -2947.2%
FREE CASH FLOW
Cash From Operating Activities -$1.417M -$843.3K
Capital Expenditures $11.03K $1.462K
Free Cash Flow -$1.428M -$844.8K
YoY Change 69.05% 6.94%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
16250
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.33
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
786420
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
5.19
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
253828
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.001
CY2022Q1 ipwr Maximum Beneficial Ownership Percentage Of Warrants
MaximumBeneficialOwnershipPercentageOfWarrants
0.0499
CY2022Q1 ipwr Maximum Beneficial Ownership Percentage Of Warrants Upon Investor S Election
MaximumBeneficialOwnershipPercentageOfWarrantsUponInvestorSElection
0.0999

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