2022 Q3 Form 10-Q Financial Statement

#000149315222025847 Filed on September 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $40.98K $43.77K $46.98K
YoY Change 10.16% 19.72% 17.45%
Gross Profit -$40.98K -$43.77K -$46.98K
YoY Change 10.16% 19.72% 17.45%
Gross Profit Margin
Selling, General & Admin $256.2K $64.77K $68.98K
YoY Change 329.32% 19.24% 14.97%
% of Gross Profit
Research & Development $36.83K $680.00 $25.76K
YoY Change 667.29% -61.36% 28.8%
% of Gross Profit
Depreciation & Amortization $1.460K $1.460K $1.450K
YoY Change 0.0% 0.0% -71.68%
% of Gross Profit
Operating Expenses $334.0K $65.44K $96.20K
YoY Change 406.56% 13.75% 37.43%
Operating Profit -$334.0K -$109.2K -$143.2K
YoY Change 223.86% 16.07% 30.16%
Interest Expense $91.76K -$110.1K $31.77K
YoY Change -407.39% -982.76% 5.9%
% of Operating Profit
Other Income/Expense, Net $279.0K $998.3K
YoY Change -1034.6%
Pretax Income -$55.04K $811.8K -$111.4K
YoY Change -58.61% -1094.66% 85.68%
Income Tax
% Of Pretax Income
Net Earnings -$55.04K $811.8K -$111.4K
YoY Change -58.61% -1094.66% 85.68%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.06
Diluted Earnings Per Share $0.00 $59.72K -$9.463K
COMMON SHARES
Basic Shares Outstanding 14.22M shares 13.48M shares
Diluted Shares Outstanding 14.22M shares 13.48M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.450K $121.9K $102.7K
YoY Change -96.59% -3.96% 927.4%
Cash & Equivalents $2.445K $121.9K $102.7K
Short-Term Investments
Other Short-Term Assets $209.3K $30.62K $13.07K
YoY Change 2728.38% 395.47%
Inventory
Prepaid Expenses $22.27K $13.07K
Receivables
Other Receivables
Total Short-Term Assets $211.7K $152.5K $115.8K
YoY Change 166.95% 14.59% 1058.1%
LONG-TERM ASSETS
Property, Plant & Equipment $24.81K $26.26K $27.72K
YoY Change -19.04% -18.19% -7.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $24.81K $26.27K $27.72K
YoY Change -19.04% -18.16% -30.7%
TOTAL ASSETS
Total Short-Term Assets $211.7K $152.5K $115.8K
Total Long-Term Assets $24.81K $26.27K $27.72K
Total Assets $236.5K $178.7K $143.5K
YoY Change 115.12% 8.22% 187.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $259.8K $265.7K $481.1K
YoY Change -45.39% -43.51% 2.36%
Accrued Expenses $51.76K $51.76K $811.7K
YoY Change -93.62% -93.62% 0.21%
Deferred Revenue
YoY Change
Short-Term Debt $191.9K $285.5K $197.5K
YoY Change -54.11% -25.32% -46.62%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $981.1K $1.418M $1.541M
YoY Change -52.64% -38.88% -22.93%
LONG-TERM LIABILITIES
Long-Term Debt $32.40K $32.40K $67.18K
YoY Change -51.21% -50.92% 123.93%
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $32.40K $32.40K $67.18K
YoY Change -55.44% -59.41% 34.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $981.1K $1.418M $1.541M
Total Long-Term Liabilities $32.40K $32.40K $67.18K
Total Liabilities $1.013M $1.451M $1.609M
YoY Change -52.73% -39.56% -21.91%
SHAREHOLDERS EQUITY
Retained Earnings -$57.21M -$57.97M
YoY Change
Common Stock $56.44M $56.50M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$776.9K -$1.272M -$1.465M
YoY Change
Total Liabilities & Shareholders Equity $236.5K $178.7K $143.5K
YoY Change 115.12% 8.22% 187.06%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$55.04K $811.8K -$111.4K
YoY Change -58.61% -1094.66% 85.68%
Depreciation, Depletion And Amortization $1.460K $1.460K $1.450K
YoY Change 0.0% 0.0% -71.68%
Cash From Operating Activities -$165.5K -$107.9K -$170.3K
YoY Change 57.67% 35.83% 86.28%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $132.4K
YoY Change -100.0% 582.32%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 46.11K 127.0K 247.9K
YoY Change -7.78% -36.37% 1005.08%
NET CHANGE
Cash From Operating Activities -165.5K -107.9K -170.3K
Cash From Investing Activities
Cash From Financing Activities 46.11K 127.0K 247.9K
Net Change In Cash -119.4K 19.11K 77.59K
YoY Change 117.21% -84.1% -212.48%
FREE CASH FLOW
Cash From Operating Activities -$165.5K -$107.9K -$170.3K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-132993 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-2034260 usd
us-gaap Net Income Loss
NetIncomeLoss
756798 usd
us-gaap Net Income Loss
NetIncomeLoss
-214617 usd
us-gaap Depreciation
Depreciation
2917 usd
us-gaap Depreciation
Depreciation
2917 usd
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
22376 usd
us-gaap Share Based Compensation
ShareBasedCompensation
163177 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
120976 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
73551 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
300697 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
76990 usd
LBSR Gain On Forgiveness Of Loan
GainOnForgivenessOfLoan
32851 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
998284 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-15549 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
2589 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5709 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6162 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
4720 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
17112 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-273404 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-184402 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
150 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
17050 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
32497 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
10792 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
162000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
110000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
105000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2100 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
173108 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
249597 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-100296 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
65195 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
102741 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6718 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2445 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
71913 usd
LBSR Resolution Of Derivative Liabilities Due To Debt Conversions And Untainted Warrants
ResolutionOfDerivativeLiabilitiesDueToDebtConversionsAndUntaintedWarrants
78474 usd
LBSR Resolution Of Derivative Liabilities Due To Debt Conversions And Untainted Warrants
ResolutionOfDerivativeLiabilitiesDueToDebtConversionsAndUntaintedWarrants
281361 usd
LBSR Reclass Of Apic To Derivative Liabilities For Tainted Warrants
ReclassOfApicToDerivativeLiabilitiesForTaintedWarrants
733081 usd
LBSR Reclass Of Apic To Derivative Liabilities For Tainted Warrants
ReclassOfApicToDerivativeLiabilitiesForTaintedWarrants
293528 usd
LBSR Debt Discounts Due To Derivative Liabilities
DebtDiscountsDueToDerivativeLiabilities
104886 usd
LBSR Debt Discounts Due To Derivative Liabilities
DebtDiscountsDueToDerivativeLiabilities
64823 usd
us-gaap Stock Issued1
StockIssued1
186020 usd
us-gaap Stock Issued1
StockIssued1
96900 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
1946 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
22376 usd
LBSR Prepaid Insurance Financed With Note Payable
PrepaidInsuranceFinancedWithNotePayable
24750 usd
LBSR Issuance Of Common Shares For Subscription Receivable
IssuanceOfCommonSharesForSubscriptionReceivable
187030 usd
CY2022Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
458796 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
32000000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_844_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zBiTMvyK8jJ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zu23R8zSHuOb">Reclassification</span></i></b></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; font-size: 10pt"> </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; font-size: 10pt">Certain reclassifications may have been made to our prior year’s financial statements to conform to our current year presentation. These reclassifications had no effect on our previously reported results of operations or accumulated deficit.</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; font-size: 10pt"> </span></p>
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
811711 usd
CY2022Q3 us-gaap Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
18846 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
145250 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
158760 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.76
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
304010 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.08
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
304010 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.08
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P14Y8M15D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
0
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
2170167 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P2Y10M6D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.12
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.526
us-gaap Payments For Rent
PaymentsForRent
165 usd
LBSR Lease Due Date
LeaseDueDate
2022-09-01
CY2022Q3 LBSR Written Off Liabilities
WrittenOffLiabilities
1072667 usd
CY2022Q3 us-gaap Debt Current
DebtCurrent
29677 usd
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
44706 usd
LBSR Gain On Settlement Of Debt
GainOnSettlementOfDebt
998284 usd
CY2022Q2 LBSR Warrants Extend Of Expiration Description
WarrantsExtendOfExpirationDescription
the Company extended all warrants issued by the Company which expired or will expire during the year 2022. These warrants are extended for an additional three years. All other terms of the warrants remain unchanged, fully considering the reverse split effective on February 25, 2021
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
300697 usd
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
76990 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
300697 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
76990 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
78474 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
281361 usd
LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Recognized As Debt Discount
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsRecognizedAsDebtDiscount
104886 usd
LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Recognized As Debt Discount
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsRecognizedAsDebtDiscount
64823 usd
LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Due To Tainted Warrants
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsDueToTaintedWarrants
733081 usd
LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Due To Tainted Warrants
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsDueToTaintedWarrants
293528 usd
CY2022Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
458796 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-300697 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-76990 usd
CY2022Q3 us-gaap Convertible Debt
ConvertibleDebt
211438 usd
CY2022Q1 us-gaap Convertible Debt
ConvertibleDebt
201300 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
33526 usd
CY2022Q1 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
20178 usd
CY2022Q3 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
177912 usd
CY2022Q1 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
181122 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
61602 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
73551 usd
CY2022Q3 us-gaap Notes Payable
NotesPayable
13958 usd
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
0 usd
CY2022Q1 us-gaap Notes Payable
NotesPayable
64897 usd
CY2022Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
64897 usd
CY2022Q1 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
2287 usd
us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
4720 usd
CY2022Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1372 usd

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