2023 Q2 Form 10-Q Financial Statement

#000149315223021237 Filed on June 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $0.00
YoY Change
Cost Of Revenue $45.91K $43.77K
YoY Change 4.89% 19.72%
Gross Profit -$45.91K -$43.77K
YoY Change 4.89% 19.72%
Gross Profit Margin
Selling, General & Admin $82.70K $64.77K
YoY Change 27.68% 19.24%
% of Gross Profit
Research & Development $6.070K $680.00
YoY Change 792.65% -61.36%
% of Gross Profit
Depreciation & Amortization $1.458K $1.460K
YoY Change -0.14% 0.0%
% of Gross Profit
Operating Expenses $134.7K $65.44K
YoY Change 105.8% 13.75%
Operating Profit -$134.7K -$109.2K
YoY Change 23.32% 16.07%
Interest Expense $47.01K -$110.1K
YoY Change -142.7% -982.76%
% of Operating Profit
Other Income/Expense, Net $16.10K $998.3K
YoY Change -98.39%
Pretax Income -$118.6K $811.8K
YoY Change -114.61% -1094.66%
Income Tax
% Of Pretax Income
Net Earnings -$118.6K $811.8K
YoY Change -114.61% -1094.66%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 $0.06
Diluted Earnings Per Share -$0.01 $59.72K
COMMON SHARES
Basic Shares Outstanding 20.17M shares 13.48M shares
Diluted Shares Outstanding 19.24M shares 13.48M shares

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.110K $121.9K
YoY Change -94.99% -3.96%
Cash & Equivalents $6.109K $121.9K
Short-Term Investments
Other Short-Term Assets $31.59K $30.62K
YoY Change 3.17% 395.47%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $37.70K $152.5K
YoY Change -75.27% 14.59%
LONG-TERM ASSETS
Property, Plant & Equipment $20.43K $26.26K
YoY Change -22.2% -18.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $20.43K $26.27K
YoY Change -22.23% -18.16%
TOTAL ASSETS
Total Short-Term Assets $37.70K $152.5K
Total Long-Term Assets $20.43K $26.27K
Total Assets $58.13K $178.7K
YoY Change -67.48% 8.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $211.6K $265.7K
YoY Change -20.37% -43.51%
Accrued Expenses $66.21K $51.76K
YoY Change 27.92% -93.62%
Deferred Revenue
YoY Change
Short-Term Debt $191.4K $285.5K
YoY Change -32.94% -25.32%
Long-Term Debt Due $1.690K
YoY Change
Total Short-Term Liabilities $575.0K $1.418M
YoY Change -59.46% -38.88%
LONG-TERM LIABILITIES
Long-Term Debt $30.50K $32.40K
YoY Change -5.86% -50.92%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $30.50K $32.40K
YoY Change -5.87% -59.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $575.0K $1.418M
Total Long-Term Liabilities $30.50K $32.40K
Total Liabilities $605.5K $1.451M
YoY Change -58.26% -39.56%
SHAREHOLDERS EQUITY
Retained Earnings -$57.52M
YoY Change
Common Stock $57.09M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$547.4K -$1.272M
YoY Change
Total Liabilities & Shareholders Equity $58.13K $178.7K
YoY Change -67.48% 8.22%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$118.6K $811.8K
YoY Change -114.61% -1094.66%
Depreciation, Depletion And Amortization $1.458K $1.460K
YoY Change -0.14% 0.0%
Cash From Operating Activities -$119.9K -$107.9K
YoY Change 11.14% 35.83%
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
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $93.41K 127.0K
YoY Change -26.45% -36.37%
NET CHANGE
Cash From Operating Activities -$119.9K -107.9K
Cash From Investing Activities
Cash From Financing Activities $93.41K 127.0K
Net Change In Cash -$26.51K 19.11K
YoY Change -238.71% -84.1%
FREE CASH FLOW
Cash From Operating Activities -$119.9K -$107.9K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q2 us-gaap Liabilities Assumed1
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1579 usd
CY2023Q2 LBSR Prepaid Insurance Financed With Note Payable
PrepaidInsuranceFinancedWithNotePayable
24850 usd
CY2022Q2 LBSR Prepaid Insurance Financed With Note Payable
PrepaidInsuranceFinancedWithNotePayable
24750 usd
CY2023Q2 LBSR Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
16750 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
99080 usd
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
172393 usd
CY2023Q2 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_848_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z6iSSNBb3E04" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zKS5hGUXnLJl">Reclassification</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications have been made to our prior year’s consolidated 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>
CY2023Q2 us-gaap Accrued Vacation Current And Noncurrent
AccruedVacationCurrentAndNoncurrent
66205 usd
CY2023Q1 us-gaap Accrued Vacation Current And Noncurrent
AccruedVacationCurrentAndNoncurrent
66205 usd
CY2023 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
50000 usd
CY2023Q2 us-gaap Repayments Of Debt
RepaymentsOfDebt
1579 usd
CY2023Q1 us-gaap Increase Decrease In Notes Payable Current
IncreaseDecreaseInNotesPayableCurrent
51579 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.10 pure
CY2023Q2 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2024-01-31
CY2023Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.067
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
16750 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0315 pure
CY2023Q2 LBSR Subscription Receivable
SubscriptionReceivable
117850 usd
CY2023Q1 LBSR Subscription Receivable
SubscriptionReceivable
117468 usd
CY2023Q2 LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Recognized As Debt Discount
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsRecognizedAsDebtDiscount
33720 usd
CY2022Q2 LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Recognized As Debt Discount
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsRecognizedAsDebtDiscount
36890 usd
CY2022Q2 LBSR Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Additions Due To Tainted Warrants
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationAdditionsDueToTaintedWarrants
731226 usd
CY2023Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
99080 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
313760 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.53
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
310000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.07
CY2023Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
250000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.07
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
373760 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.49
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
373760 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.49
CY2023Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P11Y7M17D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
0
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2256070 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
2256070 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P2Y2M19D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.82
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
172393 usd
CY2023Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
63102 usd
CY2022Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
-70048 usd
CY2023Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
-43931 usd
CY2022Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
-22712 usd
CY2022Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
815452 usd
CY2023Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-63102 usd
CY2022Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
70048 usd
CY2023Q2 us-gaap Convertible Debt
ConvertibleDebt
154596 usd
CY2023Q1 us-gaap Convertible Debt
ConvertibleDebt
126384 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
39582 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
33760 usd
CY2023Q2 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
115014 usd
CY2023Q1 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
92624 usd
CY2023Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
45248 usd
CY2022Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
34486 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
57042 usd
CY2023Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
30499 usd
CY2023Q2 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
26543 usd
CY2023Q2 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
3177 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
35154 usd
CY2023Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
30618 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
4536 usd
CY2023Q1 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
2907 usd
CY2023Q2 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
1805 usd
CY2023Q2 us-gaap Payments For Rent
PaymentsForRent
165 usd
CY2023Q2 LBSR Lease Due Date
LeaseDueDate
2023-09-01

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