$ISPR
Ispire Technology Inc.

2024 Q1 Form 10-Q Financial Statement

#000121390024015395 Filed on February 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $30.02M $41.69M $58.84M
YoY Change 24.36% -29.15% 24.57%
Cost Of Revenue $23.89M $35.31M $48.91M
YoY Change 21.8% -27.81% 22.51%
Gross Profit $6.122M $6.376M $9.931M
YoY Change 35.44% -35.79% 35.82%
Gross Profit Margin 20.4% 15.3% 16.88%
Selling, General & Admin $11.80M $10.33M $11.61M
YoY Change 47.85% -11.04% 109.99%
% of Gross Profit 192.78% 161.96% 116.89%
Research & Development $163.8K $25.27K $297.4K
YoY Change 285.79% -91.5%
% of Gross Profit 2.68% 0.4% 2.99%
Depreciation & Amortization $56.84K $41.48K $786.3K
YoY Change -92.71% -94.72% 80133.67%
% of Gross Profit 0.93% 0.65% 7.92%
Operating Expenses $11.80M $10.33M $11.61M
YoY Change 47.85% -11.04% 109.99%
Operating Profit -$5.680M -$3.951M -$1.678M
YoY Change 64.06% 135.48% -194.05%
Interest Expense -$26.61K $229.5K -$400.8K
YoY Change -104.02% -157.26% -676.23%
% of Operating Profit
Other Income/Expense, Net -$14.34K $280.5K -$40.49K
YoY Change -78.89% -792.74% -173.7%
Pretax Income -$5.694M -$3.670M -$2.119M
YoY Change 98.49% 73.21% -211.04%
Income Tax $255.5K $352.2K $832.0K
% Of Pretax Income
Net Earnings -$5.950M -$4.022M -$2.951M
YoY Change 91.5% 36.31% -330.78%
Net Earnings / Revenue -19.82% -9.65% -5.02%
Basic Earnings Per Share -$0.11 -$0.07 -$0.01
Diluted Earnings Per Share -$0.11 -$0.07 -$0.05
COMMON SHARES
Basic Shares Outstanding 54.28M shares 54.27M shares 50.00M shares
Diluted Shares Outstanding 54.35M shares 54.27M shares 50.00M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.45M $26.82M $84.27M
YoY Change 17.28% -68.17%
Cash & Equivalents $39.45M $17.50M $84.27M
Short-Term Investments $0.00 $9.318M
Other Short-Term Assets $1.511M $3.053M $191.4K
YoY Change 419.79% 1495.36%
Inventory $9.814M $7.548M $20.31M
Prepaid Expenses
Receivables $47.73M $45.45M $18.04M
Other Receivables $371.2K $130.2K $0.00
Total Short-Term Assets $98.65M $83.01M $122.8M
YoY Change 55.16% -32.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.167M $2.148M $4.039M
YoY Change 268.33% -46.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M
YoY Change
Other Assets $9.497M $7.572M $721.5K
YoY Change -87.88% 949.53%
Total Long-Term Assets $9.497M $7.572M $78.25M
YoY Change -87.88% -90.32%
TOTAL ASSETS
Total Short-Term Assets $98.65M $83.01M $122.8M
Total Long-Term Assets $9.497M $7.572M $78.25M
Total Assets $108.1M $90.58M $201.1M
YoY Change -23.82% -54.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.668M $5.973M $67.72M
YoY Change 1958.82% -91.18%
Accrued Expenses $1.000M $80.18K $924.8K
YoY Change -18.01% -91.33%
Deferred Revenue $1.327M $1.705M
YoY Change 78.83%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $69.74M $58.52M $115.0M
YoY Change 19.42% -49.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.731M $3.068M $2.829M
YoY Change -24.33% 8.44%
Total Long-Term Liabilities $2.731M $3.068M $2.829M
YoY Change -24.33% 8.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.74M $58.52M $115.0M
Total Long-Term Liabilities $2.731M $3.068M $2.829M
Total Liabilities $72.47M $61.59M $117.8M
YoY Change 16.87% -47.73%
SHAREHOLDERS EQUITY
Retained Earnings -$5.499M $450.9K
YoY Change -193.38%
Common Stock $5.633K $5.428K
YoY Change 12.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.68M $28.99M $83.22M
YoY Change
Total Liabilities & Shareholders Equity $108.1M $90.58M $201.1M
YoY Change -23.82% -54.95%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income -$5.950M -$4.022M -$2.951M
YoY Change 91.5% 36.31% -330.78%
Depreciation, Depletion And Amortization $56.84K $41.48K $786.3K
YoY Change -92.71% -94.72% 80133.67%
Cash From Operating Activities $3.354M -$7.352M $8.825M
YoY Change -151.02% -183.3% -206.03%
INVESTING ACTIVITIES
Capital Expenditures $322.8K $1.073M $478.5K
YoY Change 1844.58% 124.35% 910.5%
Acquisitions
YoY Change
Other Investing Activities $8.134M
YoY Change -184.69%
Cash From Investing Activities $7.811M -$1.073M -$478.5K
YoY Change -181.19% 124.35% 910.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.79M 242.2K 1.440M
YoY Change -124.49% -83.18% -160.13%
NET CHANGE
Cash From Operating Activities 3.354M -7.352M 8.825M
Cash From Investing Activities 7.811M -1.073M -478.5K
Cash From Financing Activities 10.79M 242.2K 1.440M
Net Change In Cash 21.95M -8.183M 9.787M
YoY Change -136.44% -183.62% -190.91%
FREE CASH FLOW
Cash From Operating Activities $3.354M -$7.352M $8.825M
Capital Expenditures $322.8K $1.073M $478.5K
Free Cash Flow $3.031M -$8.425M $8.347M
YoY Change -145.99% -200.94% -199.71%

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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
159577 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
322354 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
102375 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
103897 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
788866 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8375630 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1130620 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
731593 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-478473 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
45509 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1889346 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-703322 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
9786503 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-22797584 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74480651 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40300573 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84267154 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17502989 usd
ispr Leased Assets Obtained In Exchange For Operating Lease Liabilities
LeasedAssetsObtainedInExchangeForOperatingLeaseLiabilities
3714979 usd
ispr Leased Assets Obtained In Exchange For Operating Lease Liabilities
LeasedAssetsObtainedInExchangeForOperatingLeaseLiabilities
507292 usd
CY2020Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
50000000 shares
CY2023Q3 us-gaap Asset Acquisition Consideration Transferred Transaction Cost
AssetAcquisitionConsiderationTransferredTransactionCost
100 myr
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
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us-gaap Operating Lease Payments
OperatingLeasePayments
449638 usd
ispr Leased Assets Obtained In Exchange For Operating Lease Liabilities
LeasedAssetsObtainedInExchangeForOperatingLeaseLiabilities
3714979 usd
us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company 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. Significant estimates </span><span style="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">  </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">include allowance for credit losses, inventory reserve, deferred tax asset reserve, the useful lives of property, plant and equipment, incremental borrowing rate for operating leases and fair value of certain share based payment awards. Actual results could differ from those estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Concentration of credit risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, accounts receivable and investments - others. The Company maintains its cash in financial institutions. To the extent that such deposits exceed the maximum insurance levels, they are uninsured. On June 30, 2023, amounts due from two customers totaled approximately 11% and 11% respectively, of accounts receivable. On December 31, 2023 accounts receivable from two customers totaled approximately 13% and 12%.</span></p>
CY2022Q4 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
0 usd
CY2023Q4 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
130452 usd
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
0 usd
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
130452 usd
CY2022Q4 ispr Shipping And Handling Costs
ShippingAndHandlingCosts
69901 usd
CY2023Q4 ispr Shipping And Handling Costs
ShippingAndHandlingCosts
123308 usd
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
9318480 usd
CY2023Q4 us-gaap Investment Maturity Date
InvestmentMaturityDate
2024-02-08
CY2023Q4 ispr Finite Lived Patent Gross
FiniteLivedPatentGross
255650 usd
ispr Finite Lived Patent Gross
FiniteLivedPatentGross
731593 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4615 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4615 usd
CY2023Q4 us-gaap Percentage Of Interest Bearing Domestic Deposits To Deposits
PercentageOfInterestBearingDomesticDepositsToDeposits
0.30 pure
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.70 pure
CY2022Q4 us-gaap Revenues
Revenues
31897399 usd
CY2023Q4 us-gaap Revenues
Revenues
41685561 usd
us-gaap Revenues
Revenues
58840449 usd
us-gaap Revenues
Revenues
84550208 usd
ispr Shipping And Handling Costs
ShippingAndHandlingCosts
173378 usd
ispr Shipping And Handling Costs
ShippingAndHandlingCosts
166752 usd
CY2023Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25266 usd
CY2022Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
297405 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
27629 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
465575 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3419140 shares
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-130242 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
-4022324 usd
us-gaap Net Income Loss
NetIncomeLoss
-2131996 usd
us-gaap Net Income Loss
NetIncomeLoss
-5396939 usd
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50000000 shares
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54270236 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54258224 shares
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.1
CY2023Q4 ispr Consolidated Revenue Percentage
ConsolidatedRevenuePercentage
0.10 pure
CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
0.95 pure
ispr Functional Currency Narrow Range Description
FunctionalCurrencyNarrowRangeDescription
As HKD is pegged to USD in a narrow range of US$1:HK$7.75 -7.85, after evaluation the management concluded that the misstatement resulted from the change of functional currency to all reporting periods prior to October 1, 2023, and correction of the error during the three months ended December 31, 2023 is immaterial given consideration of both quantitative and qualitative factors in assessing an item’s materiality.
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40300573 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17502989 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40300573 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17502989 usd
CY2023Q2 us-gaap Accounts Receivable Gross Current
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CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
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CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2918930 usd
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
24526262 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
45454998 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
311379 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
706160 usd
CY2023Q2 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
3209413 usd
CY2023Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
1123166 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
142230 usd
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
130162 usd
CY2023Q2 us-gaap Other Prepaid Expense Current
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26974 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1363801 usd
CY2023Q4 us-gaap Prepaid Taxes
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440094 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
125992 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3378617 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3183215 usd
CY2022Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
518854 usd
CY2023Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
813912 usd
CY2022Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
339155 usd
CY2023Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
847427 usd
CY2022Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
309990 usd
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
340723 usd
CY2023Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
296557 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1167999 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2298619 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
79868 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
150413 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1088131 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2148206 usd
CY2022Q4 us-gaap Depreciation
Depreciation
6939 usd
CY2023Q4 us-gaap Depreciation
Depreciation
41484 usd
us-gaap Depreciation
Depreciation
13495 usd
us-gaap Depreciation
Depreciation
70545 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
988556 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1705171 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4061617 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3969437 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
944525 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1244565 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3356232 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3067909 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4300757 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4312474 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1539981 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1543278 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1258333 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
564731 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4906323 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
593849 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4312474 usd
CY2022Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
369185 usd
CY2023Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
335678 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
758735 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
734991 usd
CY2023Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
379600 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
712421 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.08 pure
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
148197 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
403383 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
97314 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
117830 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
35850 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
80175 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2327 usd
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
281361 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
603715 usd
CY2022Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
27055791 usd
CY2023Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
25464800 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
49360346 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
48983213 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
388070 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3670144 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1346283 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4548714 usd
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
63853 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6016774 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
4854545 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6016774 usd
ispr Additions To Valuation Allowance Amount
AdditionsToValuationAllowanceAmount
1516330 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4500444 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
15000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
56976 shares
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
29242 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2910000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
587235 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2910000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.63
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
65000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.76
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
5.54
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2845000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.63
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
5.45
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7263425 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
400875 usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
0 usd
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1201114 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
0 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1707093 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q4 us-gaap Restricted Stock Expense
RestrictedStockExpense
468361 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
604325 usd
CY2023Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1882921 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2850480 usd
CY2023Q2 us-gaap Accrued Payroll Taxes Current
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
shares
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15540029 usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54270236 shares
CY2023Q4 us-gaap Taxes Payable Current
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CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
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CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
usd
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54258224 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54270236 shares
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2023Q2 us-gaap Prepaid Taxes
PrepaidTaxes
usd
CY2023Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
usd
CY2022Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2022Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Entity Central Index Key
EntityCentralIndexKey
0001948455
CY2023 ispr Estimated Useful Life Description
EstimatedUsefulLifeDescription
Shorter of the term of the lease or the estimated useful life of the assets

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0001213900-24-015395.txt Edgar Link pending
0001213900-24-015395-xbrl.zip Edgar Link pending
f10q1223ex31-1_ispiretech.htm Edgar Link pending
f10q1223ex31-2_ispiretech.htm Edgar Link pending
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