2023 Q1 Form 10-K Financial Statement

#000149523123000040 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $8.738M $8.802M $41.10M
YoY Change -1.72% -16.17% 36.88%
Cost Of Revenue $5.960M $5.749M $24.74M
YoY Change 15.07% 19.83% 71.06%
Gross Profit $2.778M $3.054M $16.36M
YoY Change -25.15% -46.46% 5.13%
Gross Profit Margin 31.79% 34.69% 39.81%
Selling, General & Admin $5.808M $4.032M $21.16M
YoY Change -3.56% -24.52% 6.72%
% of Gross Profit 209.11% 132.04% 129.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $346.3K $423.3K $828.2K
YoY Change 149.42% 204.07% -23.96%
% of Gross Profit 12.47% 13.86% 5.06%
Operating Expenses $5.808M $4.455M $21.16M
YoY Change -3.56% -18.71% 6.72%
Operating Profit -$3.377M -$1.402M -$5.631M
YoY Change 37.78% -730.17% 5.1%
Interest Expense $1.564K $1.800K $799.00
YoY Change 62.07% -246.34% -96.84%
% of Operating Profit
Other Income/Expense, Net $570.5K $489.3K $1.161M
YoY Change -2359.67% 119.39% -47.62%
Pretax Income -$2.806M -$917.1K -$4.470M
YoY Change 13.33% -306.44% 42.31%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.806M -$917.1K -$4.469M
YoY Change 13.33% -306.44% 42.31%
Net Earnings / Revenue -32.12% -10.42% -10.88%
Basic Earnings Per Share -$0.18 -$0.29
Diluted Earnings Per Share -$0.04 -$0.01 -$0.07
COMMON SHARES
Basic Shares Outstanding 62.47M shares 62.33M shares 15.55M shares
Diluted Shares Outstanding 15.61M shares 15.55M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.46M $70.00M $40.71M
YoY Change -7.03% -7.2% -46.03%
Cash & Equivalents $26.16M $24.60M $24.60M
Short-Term Investments $41.30M $45.40M $16.11M
Other Short-Term Assets $22.05K $66.44K $3.994M
YoY Change 14.95% -33.9% 69.38%
Inventory
Prepaid Expenses $2.919M $3.927M
Receivables $5.922M $5.665M $5.665M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $52.44M $50.37M $50.37M
YoY Change -37.5% -41.02% -41.02%
LONG-TERM ASSETS
Property, Plant & Equipment $258.2K $156.8K $156.8K
YoY Change 70.51% 1.02% 1.02%
Goodwill $4.017M $4.017M
YoY Change 0.0% 0.0%
Intangibles $64.95K $64.95K
YoY Change -56.78% -69.54%
Long-Term Investments $23.88M $29.30M $29.30M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $29.83M $35.31M $35.31M
YoY Change 459.44% 553.28% 553.28%
TOTAL ASSETS
Total Short-Term Assets $52.44M $50.37M $50.37M
Total Long-Term Assets $29.83M $35.31M $35.31M
Total Assets $82.26M $85.67M $85.67M
YoY Change -7.81% -5.64% -5.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.468M $1.968M $1.968M
YoY Change 32.82% -5.68% -5.68%
Accrued Expenses $1.874M $2.048M $2.048M
YoY Change -10.22% -18.16% -14.41%
Deferred Revenue $9.855M $11.25M
YoY Change -22.84% -0.8%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $69.81K $42.86K $42.86K
YoY Change 5.33% 28.36% 28.36%
Total Short-Term Liabilities $14.33M $15.35M $15.35M
YoY Change -14.44% -3.65% -3.65%
LONG-TERM LIABILITIES
Long-Term Debt $108.0K $62.17K $62.17K
YoY Change 47.78% 47.78%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $108.0K $62.17K $62.17K
YoY Change 47.78% 47.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.33M $15.35M $15.35M
Total Long-Term Liabilities $108.0K $62.17K $62.17K
Total Liabilities $14.44M $15.41M $15.41M
YoY Change -13.8% -3.51% -3.51%
SHAREHOLDERS EQUITY
Retained Earnings -$80.91M -$78.10M
YoY Change 6.31% 6.07%
Common Stock $6.260K $6.241K
YoY Change 0.79% 0.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $67.83M $70.27M $70.27M
YoY Change
Total Liabilities & Shareholders Equity $82.26M $85.67M $85.67M
YoY Change -7.81% -5.64% -5.64%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$2.806M -$917.1K -$4.469M
YoY Change 13.33% -306.44% 42.31%
Depreciation, Depletion And Amortization $346.3K $423.3K $828.2K
YoY Change 149.42% 204.07% -23.96%
Cash From Operating Activities -$2.437M $3.859M -$3.057M
YoY Change -10.63% 255.68% 19.09%
INVESTING ACTIVITIES
Capital Expenditures $47.43K $952.3K $79.01K
YoY Change -136.89% -487.41% -128.24%
Acquisitions $0.00 $0.00
YoY Change
Other Investing Activities $4.227M $1.693M -$46.15M
YoY Change 640400.0% 656.7% -18300.32%
Cash From Investing Activities $4.023M $740.7K -$47.70M
YoY Change -3245.11% -3454.48% 182172.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$30.87K -25.64K -$76.32K
YoY Change 56.47% -68.56% -100.17%
NET CHANGE
Cash From Operating Activities -$2.437M 3.859M -$3.057M
Cash From Investing Activities $4.023M 740.7K -$47.70M
Cash From Financing Activities -$30.87K -25.64K -$76.32K
Net Change In Cash $1.555M 4.574M -$50.83M
YoY Change -154.11% 366.1% -219.92%
FREE CASH FLOW
Cash From Operating Activities -$2.437M $3.859M -$3.057M
Capital Expenditures $47.43K $952.3K $79.01K
Free Cash Flow -$2.484M $2.907M -$3.136M
YoY Change -4.38% 118.44% 37.11%

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