2021 Q3 Form 10-Q Financial Statement

#000165495421009080 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit Margin
Selling, General & Admin $1.542M $994.2K $634.2K
YoY Change -6.43% 56.78% -4.65%
% of Gross Profit
Research & Development $875.9K $868.6K $375.2K
YoY Change 21.62% 131.47% -15.01%
% of Gross Profit
Depreciation & Amortization $34.72K $64.98K $51.01K
YoY Change -56.0% 27.4% 113.32%
% of Gross Profit
Operating Expenses $2.418M $1.863M $1.009M
YoY Change 1.3% 84.54% -10.72%
Operating Profit -$2.418M -$1.863M -$1.009M
YoY Change 1.3% 84.54% -1.53%
Interest Expense -$5.178M $5.228M $1.189M
YoY Change 169.06% 339.75% -181.3%
% of Operating Profit
Other Income/Expense, Net $0.00 -$5.228M -$1.896M
YoY Change -100.0% 175.79% -23133.71%
Pretax Income -$7.596M -$7.091M -$2.905M
YoY Change 76.17% 144.08% 34.85%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.596M -$7.091M -$2.905M
YoY Change 76.17% 144.08% 34.85%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$220.0K -$228.4K -$122.5K
COMMON SHARES
Basic Shares Outstanding 34.43M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.26M $13.87M $4.662M
YoY Change 185.2% 197.49% 73.41%
Cash & Equivalents $12.26M $13.87M $4.662M
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory $0.00
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.26M $13.87M $4.662M
YoY Change 185.2% 197.49% 63.85%
LONG-TERM ASSETS
Property, Plant & Equipment $328.5K $111.2K $207.7K
YoY Change 155.31% -46.45% 42.06%
Goodwill
YoY Change
Intangibles $0.00 $0.00
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets $13.77K $13.77K $25.18K
YoY Change -45.31% -45.31% 82.86%
Total Long-Term Assets $631.3K $155.6K $377.4K
YoY Change 64.41% -58.77% -21.01%
TOTAL ASSETS
Total Short-Term Assets $12.26M $13.87M $4.662M
Total Long-Term Assets $631.3K $155.6K $377.4K
Total Assets $12.89M $14.03M $5.040M
YoY Change 175.29% 178.3% 51.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $419.1K $405.0K $441.4K
YoY Change -15.08% -8.26% -47.21%
Accrued Expenses $893.1K $585.8K $951.7K
YoY Change 122.63% -38.45% 6.28%
Deferred Revenue
YoY Change
Short-Term Debt $9.191M $5.007M $2.405M
YoY Change 131.66% 108.16% -4.26%
Long-Term Debt Due $226.2K
YoY Change
Total Short-Term Liabilities $11.04M $7.820M $3.798M
YoY Change 73.88% 105.9% -10.5%
LONG-TERM LIABILITIES
Long-Term Debt $431.8K $205.6K $0.00
YoY Change 90.92%
Other Long-Term Liabilities $178.2K $0.00 $825.0K
YoY Change 665.99% -100.0%
Total Long-Term Liabilities $610.0K $205.6K $825.0K
YoY Change 144.55% -75.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.04M $7.820M $3.798M
Total Long-Term Liabilities $610.0K $205.6K $825.0K
Total Liabilities $11.65M $8.026M $4.623M
YoY Change 76.55% 73.6% 8.94%
SHAREHOLDERS EQUITY
Retained Earnings -$81.33M -$73.73M
YoY Change 45.31%
Common Stock $35.17K $33.72K
YoY Change 41.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.242M $6.000M $416.5K
YoY Change
Total Liabilities & Shareholders Equity $12.89M $14.03M $5.040M
YoY Change 175.29% 178.3% 51.65%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$7.596M -$7.091M -$2.905M
YoY Change 76.17% 144.08% 34.85%
Depreciation, Depletion And Amortization $34.72K $64.98K $51.01K
YoY Change -56.0% 27.4% 113.32%
Cash From Operating Activities -$1.706M -$1.897M -$977.8K
YoY Change 36.75% 94.03% 30.04%
INVESTING ACTIVITIES
Capital Expenditures -$252.0K -$12.58K $14.68K
YoY Change 341.53% -185.69% -373.37%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$252.0K -$12.58K $14.68K
YoY Change 341.53% -185.69% -373.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 346.2K 83.34K 4.849M
YoY Change -63.19% -98.28% 1162.39%
NET CHANGE
Cash From Operating Activities -1.706M -1.897M -977.8K
Cash From Investing Activities -252.0K -12.58K 14.68K
Cash From Financing Activities 346.2K 83.34K 4.849M
Net Change In Cash -1.612M -1.826M 3.886M
YoY Change 342.63% -147.0% -1141.19%
FREE CASH FLOW
Cash From Operating Activities -$1.706M -$1.897M -$977.8K
Capital Expenditures -$252.0K -$12.58K $14.68K
Free Cash Flow -$1.454M -$1.885M -$992.5K
YoY Change 22.14% 89.89% 32.94%

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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Use of Estimates</strong> – The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires 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. Actual results could differ from those estimates.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Derivative Financial Instruments –</strong>Pursuant to ASC 815 “Derivatives and Hedging”, the Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The Company then determines if embedded derivative must bifurcated and separately accounted for. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. For stock-based derivative financial instruments, the Company uses a Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within twelve months of the balance sheet date. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company determined that the conversion features for purposes of bifurcation within its currently outstanding convertible notes payable were immaterial and there was no derivative liability to be recorded as of June 30, 2021 and September 30, 2020.</p>
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CY2021Q2 us-gaap Common Stock Shares Subscribed But Unissued
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20016367 shares
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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18298 USD
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16743590 USD
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28031 USD
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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knwn Summarize Information About Particle Stock Option And Exercisabletabletextblock
SummarizeInformationAboutParticleStockOptionAndExercisabletabletextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td colspan="2" style="BORDER-BOTTOM: #000000 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Range of </strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Exercise Prices</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Number </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Outstanding</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Weighted </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Average </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Remaining Life </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>In Years</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Weighted </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Average </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Exercise Price</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Number </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Exerciseable</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong> </strong></p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Weighted </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Average </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Exercise Price </strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Exerciseable</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td style="width:13%;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">0.10</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:14%;vertical-align:bottom;text-align:right;">4,600,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:14%;vertical-align:bottom;text-align:right;">3.98</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:14%;vertical-align:bottom;text-align:right;">0.10</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:14%;vertical-align:bottom;text-align:right;">1,000,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:14%;vertical-align:bottom;text-align:right;">0.10</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">0.80</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">2,600,000</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">4.61</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="vertical-align:bottom;text-align:right;">0.80</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">-</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">-</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">7,200,000</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">4.21</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="vertical-align:bottom;text-align:right;">0.35</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">1,000,000</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="vertical-align:bottom;text-align:right;">0.10</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
knwn Segment Revenues
SegmentRevenues
0 USD
knwn Segment Gross Profit
SegmentGrossProfit
0 USD
CY2021Q2 knwn Segment Net Income Loss
SegmentNetIncomeLoss
-1863000 USD
CY2021Q2 knwn Segment Assets
SegmentAssets
14026000 USD
CY2021Q2 knwn Segment Revenues
SegmentRevenues
0 USD
CY2020Q2 knwn Segment Gross Profit
SegmentGrossProfit
0 USD
CY2020Q2 knwn Segment Net Income Loss
SegmentNetIncomeLoss
-1009000 USD
CY2020Q2 knwn Segment Revenues
SegmentRevenues
0 USD
knwn Segment Net Income Loss
SegmentNetIncomeLoss
-8028000 USD
knwn Segment Revenues
SegmentRevenues
122000 USD
knwn Segment Gross Profit
SegmentGrossProfit
52000 USD
knwn Segment Net Income Loss
SegmentNetIncomeLoss
-4439000 USD
CY2020Q2 knwn Segment Assets
SegmentAssets
5040000 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
12203424 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
6495251 USD

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