2023 Q2 Form 10-Q Financial Statement

#000155837023008798 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $1.372M
YoY Change -100.0% -100.0% -57.99%
Cost Of Revenue $0.00 $0.00 $775.0K
YoY Change -100.0% -100.0% 1.97%
Gross Profit $0.00 $0.00 $597.0K
YoY Change -100.0% -100.0% -76.22%
Gross Profit Margin 43.51%
Selling, General & Admin $4.962M $6.030M $26.98M
YoY Change -78.11% -77.65% -2.59%
% of Gross Profit 4519.6%
Research & Development $4.278M $4.036M $4.466M
YoY Change -4.36% -9.63% 42.87%
% of Gross Profit 748.07%
Depreciation & Amortization $77.00K $77.00K $157.0K
YoY Change -48.32% -50.96% -36.69%
% of Gross Profit 26.3%
Operating Expenses $9.599M $11.68M $32.29M
YoY Change -65.81% -63.81% 2.24%
Operating Profit -$9.599M -$11.68M -$30.91M
YoY Change -63.04% -62.21% 9.18%
Interest Expense $1.413M $1.474M $2.035M
YoY Change -35.98% -27.57% -4.95%
% of Operating Profit
Other Income/Expense, Net -$814.0K -$2.772M -$2.027M
YoY Change -61.94% 36.75%
Pretax Income -$10.41M -$14.46M -$32.94M
YoY Change -62.96% -56.12% 8.32%
Income Tax
% Of Pretax Income
Net Earnings -$10.41M -$14.46M -$32.94M
YoY Change -62.96% -56.12% 8.32%
Net Earnings / Revenue -2400.95%
Basic Earnings Per Share -$4.36 -$6.99 -$0.45
Diluted Earnings Per Share -$4.36 -$6.99 -$0.45
COMMON SHARES
Basic Shares Outstanding 2.349M 2.025M 73.64M
Diluted Shares Outstanding 2.388M 2.069M 73.64M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.18M $63.64M $70.16M
YoY Change 32.78% -9.3% -55.02%
Cash & Equivalents $49.26M $63.64M $65.17M
Short-Term Investments $9.922M $4.992M
Other Short-Term Assets $6.063M $7.313M $4.542M
YoY Change -75.84% 61.01% 74.69%
Inventory $10.53M
Prepaid Expenses
Receivables $117.0K $115.0K $13.02M
Other Receivables $177.0K $280.0K $0.00
Total Short-Term Assets $65.54M $71.34M $98.26M
YoY Change -21.53% -27.39% -45.13%
LONG-TERM ASSETS
Property, Plant & Equipment $637.0K $504.0K $2.704M
YoY Change -28.51% -81.36% -11.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $328.0K $372.0K $9.230M
YoY Change -36.8% -95.97% -51.93%
Total Long-Term Assets $965.0K $882.0K $13.32M
YoY Change -33.95% -93.38% -73.76%
TOTAL ASSETS
Total Short-Term Assets $65.54M $71.34M $98.26M
Total Long-Term Assets $965.0K $882.0K $13.32M
Total Assets $66.50M $72.23M $111.6M
YoY Change -21.74% -35.27% -51.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $760.0K $997.0K $6.218M
YoY Change -92.79% -83.97% 117.79%
Accrued Expenses $4.902M $5.076M $21.24M
YoY Change -73.22% -76.1% 40.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $9.851M $10.27M $32.76M
YoY Change -70.05% -68.66% 63.88%
LONG-TERM LIABILITIES
Long-Term Debt $33.57M $33.27M $79.36M
YoY Change -57.93% -58.08% 9.43%
Other Long-Term Liabilities $5.588M $5.234M $4.739M
YoY Change 45.56% 10.45% -82.77%
Total Long-Term Liabilities $39.16M $38.50M $84.10M
YoY Change -53.18% -54.22% -15.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.851M $10.27M $32.76M
Total Long-Term Liabilities $39.16M $38.50M $84.10M
Total Liabilities $49.01M $48.77M $116.9M
YoY Change -57.94% -58.27% -2.65%
SHAREHOLDERS EQUITY
Retained Earnings -$612.1M -$601.7M -$575.3M
YoY Change 1.43% 4.58% 33.74%
Common Stock $3.000K $2.000K $73.00K
YoY Change -95.89% -97.26% 14.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.49M $23.46M -$5.284M
YoY Change
Total Liabilities & Shareholders Equity $66.50M $72.23M $111.6M
YoY Change -21.74% -35.27% -51.45%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$10.41M -$14.46M -$32.94M
YoY Change -62.96% -56.12% 8.32%
Depreciation, Depletion And Amortization $77.00K $77.00K $157.0K
YoY Change -48.32% -50.96% -36.69%
Cash From Operating Activities -$7.595M -$9.684M -$24.09M
YoY Change -70.12% -59.8% -26.2%
INVESTING ACTIVITIES
Capital Expenditures $214.0K $108.0K -$81.00K
YoY Change -224.42% -233.33% -63.18%
Acquisitions
YoY Change
Other Investing Activities -$9.819M $0.00 -$4.992M
YoY Change -427.3% -100.0% -110.35%
Cash From Investing Activities -$10.03M -$108.0K -$5.073M
YoY Change -454.77% -97.87% -110.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.073M 2.858M 154.0K
YoY Change -30830.0% 1755.84% -99.56%
NET CHANGE
Cash From Operating Activities -7.595M -9.684M -24.09M
Cash From Investing Activities -10.03M -108.0K -5.073M
Cash From Financing Activities 3.073M 2.858M 154.0K
Net Change In Cash -14.56M -6.934M -29.01M
YoY Change -35.6% -76.1% -157.21%
FREE CASH FLOW
Cash From Operating Activities -$7.595M -$9.684M -$24.09M
Capital Expenditures $214.0K $108.0K -$81.00K
Free Cash Flow -$7.809M -$9.792M -$24.01M
YoY Change -69.07% -59.21% -25.95%

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