2024 Q1 Form 10-Q Financial Statement
#000149315224020049 Filed on May 15, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
Revenue | $743.0K | $494.8K | $1.237M |
YoY Change | -39.94% | -57.51% | 2.06% |
Cost Of Revenue | $357.1K | $631.1K | $241.1K |
YoY Change | 48.11% | 8.14% | -19.24% |
Gross Profit | $385.9K | -$136.3K | $995.9K |
YoY Change | -61.26% | -123.47% | 9.02% |
Gross Profit Margin | 51.93% | -27.55% | 80.51% |
Selling, General & Admin | $492.9K | $550.6K | $2.144M |
YoY Change | -77.02% | -77.16% | 384.71% |
% of Gross Profit | 127.73% | 215.33% | |
Research & Development | $47.69K | $202.3K | $40.25K |
YoY Change | 18.48% | ||
% of Gross Profit | 12.36% | 4.04% | |
Depreciation & Amortization | $185.3K | $187.1K | $83.14K |
YoY Change | 122.9% | 116.54% | -7.58% |
% of Gross Profit | 48.03% | 8.35% | |
Operating Expenses | $934.3K | $1.160M | $2.228M |
YoY Change | -58.06% | -53.53% | 314.99% |
Operating Profit | -$548.5K | -$1.297M | -$1.232M |
YoY Change | -55.47% | -32.33% | -426.98% |
Interest Expense | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $2.760K | $30.06K | -$200.1K |
YoY Change | -101.38% | -20140.0% | 4439.25% |
Pretax Income | -$545.7K | -$1.267M | -$1.432M |
YoY Change | -61.89% | -33.91% | -480.09% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$545.7K | -$1.267M | -$1.432M |
YoY Change | -61.89% | -33.43% | -480.09% |
Net Earnings / Revenue | -73.45% | -255.95% | -115.74% |
Basic Earnings Per Share | -$0.06 | -$0.18 | |
Diluted Earnings Per Share | -$0.06 | -$0.14 | -$0.18 |
COMMON SHARES | |||
Basic Shares Outstanding | 9.270M shares | 8.253M shares | 9.009M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $5.173M | $6.201M | $10.82M |
YoY Change | -52.17% | -49.1% | 2218.43% |
Cash & Equivalents | $5.173M | $6.201M | $10.82M |
Short-Term Investments | |||
Other Short-Term Assets | $114.8K | $39.19K | $3.698M |
YoY Change | -96.9% | ||
Inventory | $2.167M | $2.278M | $1.951M |
Prepaid Expenses | |||
Receivables | $443.3K | $816.4K | $1.747M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $7.898M | $9.335M | $14.51M |
YoY Change | -45.58% | -38.68% | 363.97% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.014M | $952.8K | $652.3K |
YoY Change | 55.39% | 51.76% | -2.83% |
Goodwill | |||
YoY Change | |||
Intangibles | $4.196M | $4.280M | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $183.1K | ||
YoY Change | 4051.07% | ||
Total Long-Term Assets | $5.687M | $5.830M | $4.459M |
YoY Change | 27.53% | 30.38% | 5.18% |
TOTAL ASSETS | |||
Total Short-Term Assets | $7.898M | $9.335M | $14.51M |
Total Long-Term Assets | $5.687M | $5.830M | $4.459M |
Total Assets | $13.58M | $15.16M | $18.97M |
YoY Change | -28.4% | -23.0% | 157.51% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $306.3K | $223.0K | $420.6K |
YoY Change | -27.17% | 17.15% | 108.22% |
Accrued Expenses | $79.01K | $161.5K | $2.096M |
YoY Change | -96.23% | -89.41% | 1376.72% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | |||
Total Short-Term Liabilities | $1.472M | $1.520M | $2.516M |
YoY Change | -41.49% | -11.42% | 195.92% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $163.0K | $163.0K | $397.0K |
YoY Change | -58.94% | -66.57% | -31.53% |
Total Long-Term Liabilities | $163.0K | $163.0K | $397.0K |
YoY Change | -58.94% | -66.57% | -31.53% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.472M | $1.520M | $2.516M |
Total Long-Term Liabilities | $163.0K | $163.0K | $397.0K |
Total Liabilities | $1.635M | $1.683M | $2.913M |
YoY Change | -43.87% | -23.62% | 103.71% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$6.229M | -$5.683M | -$728.2K |
YoY Change | 755.43% | 680.48% | -212.72% |
Common Stock | $92.70K | $92.53K | $78.78K |
YoY Change | 17.67% | 17.45% | 61.5% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $25.24K | $25.24K | |
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $11.95M | $13.48M | $16.06M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $13.58M | $15.16M | $18.97M |
YoY Change | -28.4% | -23.0% | 157.51% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$545.7K | -$1.267M | -$1.432M |
YoY Change | -61.89% | -33.43% | -480.09% |
Depreciation, Depletion And Amortization | $185.3K | $187.1K | $83.14K |
YoY Change | 122.9% | 116.54% | -7.58% |
Cash From Operating Activities | -$866.3K | -$1.925M | -$1.315M |
YoY Change | -34.14% | 129.29% | -821.93% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $161.8K | $159.2K | $50.80K |
YoY Change | 218.41% | 314.88% | -1309.52% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | -$161.8K | -$159.2K | -$50.80K |
YoY Change | 218.41% | 314.88% | 1110.99% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $0.00 | -25.24K | $0.00 |
YoY Change | -100.2% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -$866.3K | -1.925M | -$1.315M |
Cash From Investing Activities | -$161.8K | -159.2K | -$50.80K |
Cash From Financing Activities | $0.00 | -25.24K | $0.00 |
Net Change In Cash | -$1.028M | -2.109M | -$1.366M |
YoY Change | -24.75% | -117.65% | 815.4% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$866.3K | -$1.925M | -$1.315M |
Capital Expenditures | $161.8K | $159.2K | $50.80K |
Free Cash Flow | -$1.028M | -$2.084M | -$1.366M |
YoY Change | -24.75% | 137.41% | -832.92% |
Facts In Submission
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Q1 | |
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CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1028011 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1366109 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6201137 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12181799 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5173126 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
10815690 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13481492 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-545709 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
33335 | usd |
CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
-1019687 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11949430 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17131489 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1257605 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1257605 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
15873884 | usd |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
862941 | usd |
CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
882353 | usd |
CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1033104 | usd |
CY2024Q1 | LASE |
Inventory Sales Demo
InventorySalesDemo
|
210030 | usd |
CY2023Q4 | LASE |
Inventory Sales Demo
InventorySalesDemo
|
162958 | usd |
CY2024Q1 | us-gaap |
Deposits
Deposits
|
5039472 | usd |
CY2024Q1 | LASE |
Deposits Description
DepositsDescription
|
The terms on this CD if flexible, having a term of 9 months that automatically renews, Full balance and interest can be withdrawn prior to maturity. A penalty of 7 days interest will be imposed for early withdrawals within the first 6 days of the account term. | |
CY2024Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
443309 | usd |
CY2024Q1 | LASE |
Allowance Estimated Credit Losses
AllowanceEstimatedCreditLosses
|
183380 | usd |
CY2024Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
947647 | usd |
CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
151186 | usd |
CY2023Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
243029 | usd |
CY2024Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
24216 | usd |
CY2023Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
24216 | usd |
CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
2167000 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
2277816 | usd |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
830883 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
510132 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1013638 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1115025 | usd |
CY2024Q1 | LASE |
Property Plant And Equipment Estimated Useful Life
PropertyPlantAndEquipmentEstimatedUsefulLife
|
P15Y | |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
809617 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
526034 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
4195597 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2882236 | usd |
CY2024Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
79847 | usd |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
90609 | usd |
CY2024Q1 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
306301 | usd |
CY2023Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
223040 | usd |
CY2024Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
772686 | usd |
CY2023Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
701234 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-866257 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1315308 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-161754 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-50801 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1028011 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1366109 | usd |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2024Q1 | us-gaap |
Common Stock Dividends Shares
CommonStockDividendsShares
|
4688695 | shares |
CY2022Q4 | us-gaap |
Debt Conversion Original Debt Interest Rate Of Debt
DebtConversionOriginalDebtInterestRateOfDebt
|
0.961 | pure |
CY2023Q4 | us-gaap |
Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
|
0.595 | pure |
CY2021Q4 | us-gaap |
Variable Lease Payment
VariableLeasePayment
|
15109 | usd |
CY2021Q4 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
25109 | usd |
CY2022Q4 | us-gaap |
Variable Lease Payment
VariableLeasePayment
|
14805 | usd |
CY2020Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
597143 | usd |
CY2020Q1 | LASE |
Operating Lease Liability Amount
OperatingLeaseLiabilityAmount
|
434153 | usd |
CY2020Q1 | LASE |
Operating Lease Liability Non Current Amount
OperatingLeaseLiabilityNonCurrentAmount
|
162990 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
434153 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
162990 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
597143 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
17000 | shares |