2022 Q1 Form 10-Q Financial Statement
#000121390022027023 Filed on May 16, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $3.651M | $2.439M |
| YoY Change | 49.7% | -34.79% |
| Cost Of Revenue | $1.447M | $989.4K |
| YoY Change | 46.28% | 4.15% |
| Gross Profit | $2.203M | $1.449M |
| YoY Change | 52.03% | -48.24% |
| Gross Profit Margin | 60.36% | 59.43% |
| Selling, General & Admin | $2.525M | $1.459M |
| YoY Change | 73.05% | -7.06% |
| % of Gross Profit | 114.6% | 100.68% |
| Research & Development | $262.5K | $313.9K |
| YoY Change | -16.38% | 65.21% |
| % of Gross Profit | 11.91% | 21.66% |
| Depreciation & Amortization | $194.4K | $203.9K |
| YoY Change | -4.66% | -2.92% |
| % of Gross Profit | 8.82% | 14.07% |
| Operating Expenses | $3.487M | $2.232M |
| YoY Change | 56.19% | 27.55% |
| Operating Profit | -$1.283M | -$782.9K |
| YoY Change | 63.9% | -174.56% |
| Interest Expense | $861.2K | |
| YoY Change | -243.54% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$3.439M | |
| YoY Change | ||
| Pretax Income | -$1.283M | -$4.222M |
| YoY Change | -69.61% | -1059.58% |
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | ||
| Net Earnings | -$1.283M | -$4.222M |
| YoY Change | -69.61% | -1129.79% |
| Net Earnings / Revenue | -35.15% | -173.13% |
| Basic Earnings Per Share | -$2.89 | -$1.20 |
| Diluted Earnings Per Share | -$135.3K | -$876.1K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 474.1K shares | 4.819M shares |
| Diluted Shares Outstanding | 474.1K shares |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $12.22M | $8.516M |
| YoY Change | 43.56% | 491.38% |
| Cash & Equivalents | $12.44M | |
| Short-Term Investments | ||
| Other Short-Term Assets | $1.104M | $686.4K |
| YoY Change | 60.77% | 29.51% |
| Inventory | $876.1K | $780.5K |
| Prepaid Expenses | ||
| Receivables | $133.3K | $67.67K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $14.34M | $10.05M |
| YoY Change | 42.66% | 239.54% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $269.3K | $306.0K |
| YoY Change | -11.99% | 91.24% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $15.51M | $20.84M |
| YoY Change | -25.56% | -2.86% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $14.34M | $10.05M |
| Total Long-Term Assets | $15.51M | $20.84M |
| Total Assets | $29.85M | $30.89M |
| YoY Change | -3.36% | 26.53% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.059M | $2.305M |
| YoY Change | -54.04% | 34.03% |
| Accrued Expenses | $658.4K | $1.718M |
| YoY Change | -61.67% | 45.57% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $45.00K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | $2.063M | |
| YoY Change | 0.12% | |
| Total Short-Term Liabilities | $1.826M | $6.131M |
| YoY Change | -70.22% | 23.6% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $3.147M |
| YoY Change | -100.0% | -65.98% |
| Other Long-Term Liabilities | $367.4K | $1.311M |
| YoY Change | -71.98% | 18.13% |
| Total Long-Term Liabilities | $367.4K | $4.458M |
| YoY Change | -91.76% | -56.97% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $1.826M | $6.131M |
| Total Long-Term Liabilities | $367.4K | $4.458M |
| Total Liabilities | $2.193M | $10.59M |
| YoY Change | -79.29% | -30.88% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $25.85M | $18.49M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $29.85M | $30.89M |
| YoY Change | -3.36% | 26.53% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$1.283M | -$4.222M |
| YoY Change | -69.61% | -1129.79% |
| Depreciation, Depletion And Amortization | $194.4K | $203.9K |
| YoY Change | -4.66% | -2.92% |
| Cash From Operating Activities | $292.5K | -$1.003M |
| YoY Change | -129.16% | -292.84% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$36.99K | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | |
| YoY Change | ||
| Cash From Investing Activities | -$36.99K | |
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -75.00K | 5.131M |
| YoY Change | -101.46% | -865.85% |
| NET CHANGE | ||
| Cash From Operating Activities | 292.5K | -1.003M |
| Cash From Investing Activities | -36.99K | |
| Cash From Financing Activities | -75.00K | 5.131M |
| Net Change In Cash | 180.5K | $0.00 |
| YoY Change | -100.0% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $292.5K | -$1.003M |
| Capital Expenditures | -$36.99K | |
| Free Cash Flow | $329.4K | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001566826 | |
| CY2021Q1 | lgmk |
Direct Operating
DirectOperating
|
244669 | USD |
| CY2021Q1 | us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
10568 | USD |
| CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
203857 | USD |
| CY2021Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2232184 | USD |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-782890 | USD |
| CY2021Q1 | us-gaap |
Interest Expense
InterestExpense
|
861248 | USD |
| CY2021Q1 | lgmk |
Forgiveness Of Ppp Loan And Accrued Interest
ForgivenessOfPPPLoanAndAccruedInterest
|
303710 | USD |
| CY2021Q1 | lgmk |
Warrant Modification Expense
WarrantModificationExpense
|
-2881729 | USD |
| CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-3439267 | USD |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-4222157 | USD |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4222157 | USD |
| CY2021Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1555801 | USD |
| CY2021Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5777958 | USD |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.2 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4819255 | shares |
| CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
USD | |
| CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
USD | |
| CY2022Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
USD | |
| CY2022Q1 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
USD | |
| CY2022Q1 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
USD | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
USD | |
| CY2022Q1 | lgmk |
Proceeds From Exercise Of Common Stock Warrants
ProceedsFromExerciseOfCommonStockWarrants
|
USD | |
| CY2022Q1 | lgmk |
Proceeds From Ppp Loan
ProceedsFromPPPLoan
|
USD | |
| CY2021Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
USD | |
| CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
USD | |
| CY2022Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
USD | |
| CY2022Q1 | lgmk |
Equity Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
EquityIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
USD | |
| CY2022Q1 | lgmk |
Common Stock Issued For Dividends
CommonStockIssuedForDividends
|
USD |
