2022 Q2 Form 10-Q Financial Statement

#000095017022017444 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $17.44M $16.38M $11.17M
YoY Change
Cost Of Revenue $5.351M $4.441M $3.980M
YoY Change
Gross Profit $12.09M $11.94M $7.190M
YoY Change
Gross Profit Margin 69.32% 72.89% 64.37%
Selling, General & Admin $15.91M $14.33M $4.100M
YoY Change 249.84% 382.15% -477.96%
% of Gross Profit 131.61% 120.05% 57.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $79.90K $23.31K $14.52K
YoY Change 1585.65% 538.34% 36200.0%
% of Gross Profit 0.66% 0.2% 0.2%
Operating Expenses $23.97M $21.14M $11.42M
YoY Change 410.7% 625.91% 952.36%
Operating Profit -$6.531M -$4.763M -$4.230M
YoY Change 39.13% 63.54%
Interest Expense $234.4K $16.21K -$250.0K
YoY Change -541.49% 43.66% -1224.61%
% of Operating Profit
Other Income/Expense, Net -$234.4K -$16.21K
YoY Change -155.95% -99.47%
Pretax Income -$6.766M -$4.780M -$4.480M
YoY Change 58.25% -20.01% 279.59%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.766M -$4.780M -$4.480M
YoY Change 65.11% -20.01% 279.59%
Net Earnings / Revenue -38.79% -29.18% -40.11%
Basic Earnings Per Share -$0.13 -$0.09
Diluted Earnings Per Share -$0.13 -$0.09 -$82.93K
COMMON SHARES
Basic Shares Outstanding 51.51M 51.24M
Diluted Shares Outstanding 51.51M 51.24M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.520M $8.481M $5.240M
YoY Change -86.07% 369.52% 900.59%
Cash & Equivalents $1.520M $8.481M $5.242M
Short-Term Investments
Other Short-Term Assets $5.296M $5.137M $3.600M
YoY Change 423.36% 155.92% 830.67%
Inventory
Prepaid Expenses
Receivables $1.183M $469.7K $745.6K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.998M $14.09M $9.588M
YoY Change -32.94% 269.41% 953.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.379M $868.6K $618.9K
YoY Change -63.3% -67.54% -75.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.088M $6.816M $6.200M
YoY Change 67.11% 124.58% 65.77%
Total Long-Term Assets $35.61M $29.40M $29.49M
YoY Change 314.16% 414.87% 370.96%
TOTAL ASSETS
Total Short-Term Assets $7.998M $14.09M $9.588M
Total Long-Term Assets $35.61M $29.40M $29.49M
Total Assets $43.61M $43.49M $39.07M
YoY Change 112.47% 356.63% 444.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.942M $6.651M $3.574M
YoY Change 168.51% 278.06% 191.33%
Accrued Expenses $3.560M $6.693M $2.704M
YoY Change 70.66% 639.55% 346.67%
Deferred Revenue $1.995M
YoY Change
Short-Term Debt $1.573M $1.573M $1.570M
YoY Change 94.58% 100.28% 299.8%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.03M $18.77M $14.70M
YoY Change 365.22% 181.17% 313.38%
LONG-TERM LIABILITIES
Long-Term Debt $3.795M $3.795M
YoY Change 369.43% 350.6%
Other Long-Term Liabilities $83.49K $83.49K $83.49K
YoY Change -96.42% -95.13% -96.03%
Total Long-Term Liabilities $25.38M $22.73M $20.13M
YoY Change 708.22% 788.71% 507.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.03M $18.77M $14.70M
Total Long-Term Liabilities $25.38M $22.73M $20.13M
Total Liabilities $47.41M $41.50M $34.83M
YoY Change 502.0% 349.43% 407.04%
SHAREHOLDERS EQUITY
Retained Earnings -$33.81M -$27.04M -$22.26M
YoY Change
Common Stock $52.56K $51.26K $51.24K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.799M $1.990M $4.246M
YoY Change
Total Liabilities & Shareholders Equity $43.61M $43.49M $39.07M
YoY Change 112.47% 356.63% 444.87%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$6.766M -$4.780M -$4.480M
YoY Change 65.11% -20.01% 279.59%
Depreciation, Depletion And Amortization $79.90K $23.31K $14.52K
YoY Change 1585.65% 538.34% 36200.0%
Cash From Operating Activities -$5.298M -$912.0K $368.2K
YoY Change 26.17% -70.42% -159.33%
INVESTING ACTIVITIES
Capital Expenditures -$590.8K $273.0K -$144.0K
YoY Change 235.25% 72.09%
Acquisitions
YoY Change
Other Investing Activities -$1.271M -$617.9K -$1.285M
YoY Change -2079.74% 105.95% 289.48%
Cash From Investing Activities -$1.862M -$890.9K -$1.439M
YoY Change 1562.62% 94.24% 336.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.930K
YoY Change -99.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 634.3K 5.738M 171.1K
YoY Change -95.34% 18.93% -86.46%
NET CHANGE
Cash From Operating Activities -5.298M -912.0K 368.2K
Cash From Investing Activities -1.862M -890.9K -1.439M
Cash From Financing Activities 634.3K 5.738M 171.1K
Net Change In Cash -6.526M 3.935M -899.9K
YoY Change -170.08% 206.85% -387.07%
FREE CASH FLOW
Cash From Operating Activities -$5.298M -$912.0K $368.2K
Capital Expenditures -$590.8K $273.0K -$144.0K
Free Cash Flow -$4.707M -$1.185M $512.2K
YoY Change 17.01% -63.45%

Facts In Submission

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NumberOfSecurityDeposits
2

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