$KLTO

2024 Q3 Form 10-Q Financial Statement

#000121390024070786 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $395.6K $342.8K
YoY Change 10.52% 5.23%
% of Gross Profit
Research & Development $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $395.6K $342.8K
YoY Change 10.52% 5.23%
Operating Profit -$395.6K -$342.8K
YoY Change 10.52% 5.23%
Interest Expense -$15.06K $251.7K
YoY Change -103.77% -85.31%
% of Operating Profit
Other Income/Expense, Net -$56.03K $16.96K
YoY Change 164.3% -260.0%
Pretax Income -$451.6K -$74.15K
YoY Change -2313.92% -105.39%
Income Tax $49.07K
% Of Pretax Income
Net Earnings -$451.6K -$123.2K
YoY Change 194.14% -111.0%
Net Earnings / Revenue
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share -$0.03 -$0.02
COMMON SHARES
Basic Shares Outstanding 17.23M shares 1.760M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $845.3K $8.050K
YoY Change 583.27% -93.18%
Cash & Equivalents $845.3K $8.051K
Short-Term Investments
Other Short-Term Assets $154.5K
YoY Change 14.28%
Inventory
Prepaid Expenses $154.5K
Receivables
Other Receivables
Total Short-Term Assets $999.8K $8.051K
YoY Change 286.16% -97.63%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.58M
YoY Change -83.61%
Other Assets $2.310M
YoY Change
Total Long-Term Assets $2.310M $19.58M
YoY Change -95.94% -83.61%
TOTAL ASSETS
Total Short-Term Assets $999.8K $8.051K
Total Long-Term Assets $2.310M $19.58M
Total Assets $3.309M $19.59M
YoY Change -94.22% -83.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.99K
YoY Change
Accrued Expenses $250.4K $1.586M
YoY Change -8.45% 417.0%
Deferred Revenue
YoY Change
Short-Term Debt $15.06K $347.1K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $898.6K $2.583M
YoY Change -33.52% -96.0%
LONG-TERM LIABILITIES
Long-Term Debt $3.900M $1.540M
YoY Change 348.28% 3153.75%
Other Long-Term Liabilities $62.22K $4.354M
YoY Change -98.58% -0.02%
Total Long-Term Liabilities $3.962M $5.894M
YoY Change -24.47% 33.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $898.6K $2.583M
Total Long-Term Liabilities $3.962M $5.894M
Total Liabilities $4.861M $8.495M
YoY Change -27.73% -87.71%
SHAREHOLDERS EQUITY
Retained Earnings -$5.536M -$7.729M
YoY Change -8.43% 58.43%
Common Stock $3.680M $340.00
YoY Change 1082327.35% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.551M -$7.728M
YoY Change
Total Liabilities & Shareholders Equity $3.309M $19.59M
YoY Change -94.22% -83.65%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$451.6K -$123.2K
YoY Change 194.14% -111.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$552.9K -$376.5K
YoY Change 7.67% 0.95%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$53.50K -$70.00K
YoY Change -100.08% -80.56%
Cash From Investing Activities -$53.50K -$70.00K
YoY Change -100.08% -80.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.613M $282.1K
YoY Change -102.57% -44.7%
NET CHANGE
Cash From Operating Activities -552.9K -$376.5K
Cash From Investing Activities -53.50K -$70.00K
Cash From Financing Activities 1.613M $282.1K
Net Change In Cash 1.007M -$164.5K
YoY Change 17443.73% -26.23%
FREE CASH FLOW
Cash From Operating Activities -$552.9K -$376.5K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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ANEW MEDICAL, INC.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><i>Reclassification</i></span></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">Certain prior year amounts have been reclassified for comparative purposes to conform to the current-year financial statement presentation. These reclassifications had no effect on previously reported results of operations and were not material.</span></p>
us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><span style="font-family: Times New Roman, Times, Serif"><i>Use of Estimates</i></span></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">The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires the Company’s management 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 revenues and expenses during the reporting period.</span></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"> </span></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">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Concentration of Credit Risk</i></span></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">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of June 30, 2024, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
wena Public Warrant Liabilities
PublicWarrantLiabilities
488750 usd
wena Private Warrant Liabilities
PrivateWarrantLiabilities
62222 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
22525 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
39697 usd
CY2024Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
62222 usd
CY2024Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
22525 usd
CY2024Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
39697 usd
CY2024Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
62222 usd
wena Percentage Of Carrying Value Of Intangible Assets
PercentageOfCarryingValueOfIntangibleAssets
0.50 pure
us-gaap Net Income Loss
NetIncomeLoss
-1123683 usd
us-gaap Net Income Loss
NetIncomeLoss
-436872 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15678898 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15130393 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15678898 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15130393 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12030000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12030000 shares
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37514 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2024Q2 us-gaap Cash
Cash
845000 usd
CY2022Q3 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
1308270 usd
CY2024Q2 us-gaap Payable Investment Purchase
PayableInvestmentPurchase
1308270 usd
CY2022Q4 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
10000 usd
wena Royalty Percentage
RoyaltyPercentage
0.03 pure
wena Agreement Paid
AgreementPaid
0 usd
wena Agreement Paid
AgreementPaid
0 usd
CY2024Q1 us-gaap Fee Income
FeeIncome
10000 usd
CY2024Q1 us-gaap Payment For Management Fee
PaymentForManagementFee
50000 usd
us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
10000 usd
CY2023Q1 us-gaap Fee Income
FeeIncome
50000 eur
CY2023Q1 us-gaap Fee Income
FeeIncome
56325 usd
CY2023Q1 wena Payment Of Signing The Agreement
PaymentOfSigningTheAgreement
100000 eur
CY2023Q1 wena Payment Of Signing The Agreement
PaymentOfSigningTheAgreement
-112650 usd
CY2023Q1 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
1000000 eur
CY2023Q1 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
1126500 usd
CY2024Q1 wena Percentage Of Royalty
PercentageOfRoyalty
0.02 pure
CY2024Q2 wena Agreement Paid
AgreementPaid
179821 usd
CY2023Q4 us-gaap Royalty Expense
RoyaltyExpense
26060 usd
us-gaap Royalty Expense
RoyaltyExpense
26060 usd
us-gaap Taxes And Licenses
TaxesAndLicenses
2261134 usd
CY2023 us-gaap Taxes And Licenses
TaxesAndLicenses
2137638 usd
CY2024Q2 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
48420 usd
CY2023Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
48420 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
284388 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
153719 usd
CY2014Q4 wena License Agreement Renewal Option
LicenseAgreementRenewalOption
P10Y
CY2014Q4 us-gaap Collateralized Agreements
CollateralizedAgreements
100000 usd
CY2014Q4 wena Percentage Of Royalty Payments On Sale Of Finished Goods
PercentageOfRoyaltyPaymentsOnSaleOfFinishedGoods
0.05 pure
CY2024Q2 us-gaap Investment Banking Advisory Brokerage And Underwriting Fees And Commissions
InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions
3000000 usd
CY2024Q2 us-gaap Legal Fees
LegalFees
0 usd
CY2024Q2 wena Deferred Underwriting Fees
DeferredUnderwritingFees
0 usd
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
0 usd
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
0 usd
CY2022Q3 us-gaap Notes Payable Current
NotesPayableCurrent
1308270 usd
wena Unpaid Principal Balance
UnpaidPrincipalBalance
0 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
1308270 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2000000 usd
CY2024Q1 wena Aggregate Shares
AggregateShares
750000 shares
CY2024Q1 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
1950000 usd
CY2024Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
181339 usd
CY2024Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2000000 usd
CY2024Q2 wena Aggregate Shares
AggregateShares
900000 shares
CY2024Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
1950000 usd
CY2024Q2 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
950000 usd
CY2024Q2 us-gaap Investment Interest Rate
InvestmentInterestRate
0.10 pure
CY2024Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
15064 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
240000 usd
CY2021Q4 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
360000 usd
CY2021Q4 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5000000 usd
CY2023 wena Earned Amount
EarnedAmount
240000 usd
CY2022 wena Earned Amount
EarnedAmount
240000 usd
CY2024Q2 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
0 usd
CY2023Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
80000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
300000 usd
CY2022 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
50000 usd
CY2023Q1 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
250000 usd
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
0 usd
CY2023 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
0 usd
us-gaap Interest And Fee Income Other Loans
InterestAndFeeIncomeOtherLoans
2460 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
31000 usd
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
135000 usd
CY2024Q2 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
0 usd
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 us-gaap Notes Payable Current
NotesPayableCurrent
usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
usd
CY2023Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
usd
CY2023Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
wena Increase Decrease In Related Party Payable
IncreaseDecreaseInRelatedPartyPayable
usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
usd
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
usd
wena Repayment Of Advance To Shareholder
RepaymentOfAdvanceToShareholder
usd
us-gaap Stock Issued1
StockIssued1
usd
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
usd
wena Noncash Pipe Funds Used For Merger Transaction Close
NoncashPIPEFundsUsedForMergerTransactionClose
usd
wena Commitment Fee Paid In Stock
CommitmentFeePaidInStock
usd
wena Assumed Income Tax Payable From Merger
AssumedIncomeTaxPayableFromMerger
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2023 wena Public Warrant Liabilities
PublicWarrantLiabilities
usd
CY2023 wena Private Warrant Liabilities
PrivateWarrantLiabilities
usd
CY2023Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
wena Exercises Of Warrant Liabilities
ExercisesOfWarrantLiabilities
usd
wena Exercises Of Warrant Liabilities
ExercisesOfWarrantLiabilities
usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2023Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
CY2024Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
CY2023Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
CY2024Q2 wena Exercises Of Warrant Liabilities
ExercisesOfWarrantLiabilities
usd
CY2023Q2 wena Exercises Of Warrant Liabilities
ExercisesOfWarrantLiabilities
usd
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2023Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001907223

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