2024 Q1 Form 10-K Financial Statement

#000114036124015752 Filed on March 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue -$79.81K $3.664M $11.93M
YoY Change -105.82% 79.04% 118399.5%
Cost Of Revenue $379.9K $812.4K $2.777M
YoY Change -43.29% 343.64% 2251.65%
Gross Profit $2.380M $2.852M $9.156M
YoY Change 33.14% 53.04% -8578.06%
Gross Profit Margin 77.83% 76.73%
Selling, General & Admin $334.9K $376.0K $1.730M
YoY Change -15.78% -5.03% 285.73%
% of Gross Profit 14.07% 13.18% 18.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $354.1K $399.0K $1.816M
YoY Change -15.12% -8.95% 298.84%
Operating Profit $2.026M $2.453M $7.340M
YoY Change 47.82% 72.1% -1402.89%
Interest Expense $599.6K $756.0K $711.3K
YoY Change -39.21% -376.58% -360.2%
% of Operating Profit 29.59% 30.82% 9.69%
Other Income/Expense, Net
YoY Change
Pretax Income $519.8K $2.498M $7.340M
YoY Change -77.95% 116.82% -1402.89%
Income Tax
% Of Pretax Income
Net Earnings -$1.034M $2.498M $7.340M
YoY Change -143.86% 116.82% -1402.89%
Net Earnings / Revenue 68.16% 61.51%
Basic Earnings Per Share $0.08 $1.18
Diluted Earnings Per Share $0.08 $0.40 $1.18
COMMON SHARES
Basic Shares Outstanding 6.215M 6.215M 6.215M
Diluted Shares Outstanding 6.215M 6.215M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.16M $32.61M $32.61M
YoY Change 1.89% -7.16% -61.53%
Cash & Equivalents $33.16M $32.61M $32.61M
Short-Term Investments
Other Short-Term Assets $261.5K $39.28K $39.28K
YoY Change 2.68% 21.53% -84.69%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $35.10M $34.41M $34.41M
YoY Change 2.12% -6.29% -59.54%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $54.85M $54.12M $54.12M
YoY Change -1.39% 7.69% 7.69%
Other Assets $333.3K
YoY Change
Total Long-Term Assets $55.25M $54.17M $54.17M
YoY Change -0.66% 7.79%
TOTAL ASSETS
Total Short-Term Assets $35.10M $34.41M $34.41M
Total Long-Term Assets $55.25M $54.17M $54.17M
Total Assets $90.35M $88.58M $88.58M
YoY Change 0.4% 1.85% 4.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $216.9K $112.3K $112.3K
YoY Change
Accrued Expenses $2.713M $721.9K $721.9K
YoY Change 796.02% 796.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.832M $3.024M $3.024M
YoY Change 404.01% 510.16% 530.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.832M $3.024M $3.024M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.832M $3.024M $3.024M
YoY Change 404.0% 510.17% 530.32%
SHAREHOLDERS EQUITY
Retained Earnings -$574.0K $449.3K
YoY Change -115.38% -69.96%
Common Stock $62.15K $62.15K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.52M $85.55M $85.55M
YoY Change
Total Liabilities & Shareholders Equity $90.35M $88.58M $88.58M
YoY Change 0.4% 1.85% 4.17%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$1.034M $2.498M $7.340M
YoY Change -143.86% 116.82% -1402.89%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $2.103M $7.139M $5.750M
YoY Change -181.47% -127.53% -1229.33%
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 $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.554M -4.348M -8.263M
YoY Change -109.69%
NET CHANGE
Cash From Operating Activities 2.103M 7.139M 5.750M
Cash From Investing Activities
Cash From Financing Activities -1.554M -4.348M -8.263M
Net Change In Cash 548.7K 2.791M -2.514M
YoY Change -121.26% -110.76% -102.97%
FREE CASH FLOW
Cash From Operating Activities $2.103M $7.139M $5.750M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q4 us-gaap Investment Owned At Cost
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CY2023Q4 us-gaap Investment Owned At Fair Value
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CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
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0.3812
CY2023Q4 us-gaap Investment Owned At Cost
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CY2023Q4 us-gaap Investment Owned At Fair Value
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CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2023Q4 us-gaap Investment Owned At Cost
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CY2023Q4 us-gaap Investment Owned At Fair Value
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CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2023Q4 us-gaap Securities Held As Collateral At Fair Value
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CY2023Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
0.293
CY2023Q4 ssic Prime Rate
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0.085
CY2023 ssic Annualized Period Of Yield
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CY2023Q4 ssic Percentage Of Yield
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2022-10-11
CY2022Q4 us-gaap Investment Maturity Date
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2024-12-10
CY2022Q4 us-gaap Investment Interest Rate
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CY2022Q4 us-gaap Investment Owned Balance Principal Amount
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022 us-gaap Investment Acquisition Date
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2022-10-11
CY2022Q4 us-gaap Investment Maturity Date
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2026-12-15
CY2022Q4 us-gaap Investment Interest Rate
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022 us-gaap Investment Acquisition Date
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2022-06-30
CY2022Q4 us-gaap Investment Maturity Date
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2025-06-30
CY2022Q4 us-gaap Investment Interest Rate
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022 us-gaap Investment Acquisition Date
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CY2022Q4 us-gaap Investment Maturity Date
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CY2022Q4 us-gaap Investment Basis Spread Variable Rate
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CY2022Q4 us-gaap Investment Interest Rate Floor
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CY2022Q4 us-gaap Investment Owned Balance Principal Amount
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022 us-gaap Investment Acquisition Date
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CY2022Q4 us-gaap Investment Maturity Date
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CY2022Q4 us-gaap Investment Basis Spread Variable Rate
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CY2022Q4 us-gaap Investment Interest Rate Floor
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CY2022Q4 us-gaap Investment Owned Balance Principal Amount
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022Q4 us-gaap Investment Owned Balance Principal Amount
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
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CY2022Q4 ssic Prime Rate
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CY2022 ssic Annualized Period Of Yield
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CY2022Q4 ssic Percentage Of Yield
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CY2023 us-gaap Use Of Estimates
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<div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Use of Estimates</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions affecting <span style="color: rgb(0, 0, 0);">reported amounts of assets and liabilities at the date of the financial statements (i.e., fair value of investments) and the reported amounts of income, expenses, and gains and losses during the reported period</span>. These estimates are based on the information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ materially from those estimates under different assumptions and conditions.</div>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
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CY2022Q4 us-gaap Fair Value Option Loans Held As Assets Aggregate Amount In Nonaccrual Status
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CY2023Q4 us-gaap Fair Value Option Loans Held As Assets Aggregate Amount In Nonaccrual Status
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CY2023 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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CY2022 us-gaap Interest Income Expense Net
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CY2022Q4 us-gaap Interest Receivable
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CY2023 us-gaap Fee Income
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us-gaap Fee Income
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CY2022 us-gaap Fee Income
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CY2023 ssic Minimum Percentage Of Ordinary Income
MinimumPercentageOfOrdinaryIncome
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CY2023 ssic Minimum Percentage Of Capital Gains
MinimumPercentageOfCapitalGains
0.982
CY2023 ssic Percentage Of Taxable Income And Gain Distributed By Company
PercentageOfTaxableIncomeAndGainDistributedByCompany
0.90
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.04
CY2023 ssic Excise Tax Expense
ExciseTaxExpense
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ssic Excise Tax Expense
ExciseTaxExpense
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CY2023Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
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CY2023 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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0
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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CY2023 us-gaap Revenue Recognition Dividends
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<div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Distributions</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Distributions to common stockholders are recorded on the record date. The amount of taxable income to be paid out as a distribution is determined by our Board each quarter and is generally based upon the future taxable income estimated by management. Capital gains, if any, are distributed at least annually, although the Company may decide to retain all or some of those capital gains for investment and pay U.S. federal income tax at corporate rates on those retained amounts. If the Company chooses to do so, this generally will increase expenses and reduce the amount available to be distributed to stockholders. Our distributions may exceed our earnings, and therefore, portions of the distributions that we make may be a return of the money originally invested and represent a return of capital distribution to shareholders for tax purposes.</div>
CY2023 ssic Organizational Expenses
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ssic Organizational Expenses
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CY2022 ssic Organizational Expenses
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CY2023Q4 ssic Organizational Costs Payable Current And Noncurrent
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CY2022Q4 ssic Organizational Costs Payable Current And Noncurrent
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CY2022 ssic Offering Costs Charged To Capital
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ssic Offering Costs Charged To Capital
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CY2023 ssic Offering Costs Charged To Capital
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CY2022Q4 ssic Offering Cost Payable Current And Noncurrent
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CY2023Q4 ssic Offering Cost Payable Current And Noncurrent
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CY2023Q4 ssic Transaction Fees Payable Current And Noncurrent
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CY2023Q4 ssic Transaction Fees Payable Current And Noncurrent
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711264
CY2022Q4 ssic Transaction Fees Payable Current And Noncurrent
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CY2022Q1 ssic Transaction Fees Payable Current And Noncurrent
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CY2023Q4 ssic Transaction Fees Payable Current And Noncurrent
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CY2022Q4 ssic Transaction Fees Payable Current And Noncurrent
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CY2023Q4 ssic Percent Of Portfolio That Is Variable Rate
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CY2023Q4 ssic Percent Of Portfolio That Is Fixed Rate
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CY2022Q4 ssic Percent Of Portfolio That Is Variable Rate
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CY2023Q4 us-gaap Derivative Number Of Instruments Held
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CY2023 ssic Investment Owned Loan Repayment Period
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CY2023Q4 ssic Investment Owned At Cost Percentage
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CY2023Q4 us-gaap Investment Owned At Fair Value
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CY2023Q4 ssic Equity Securities Fair Value Percentage
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CY2022Q4 us-gaap Investment Owned At Cost
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CY2022Q4 ssic Investment Owned At Cost Percentage
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 ssic Equity Securities Fair Value Percentage
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CY2023Q4 us-gaap Investment Owned At Cost
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CY2023Q4 ssic Investment Owned At Cost Percentage
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CY2022Q4 ssic Investment Owned At Cost Percentage
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CY2023Q4 ssic Investment Owned At Cost Percentage
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CY2022Q4 ssic Investment Owned At Cost Percentage
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CY2022Q4 ssic Equity Securities Fair Value Percentage
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CY2023Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Investment Owned At Fair Value
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CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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CY2023 ssic Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Accretion Of Discount And Fees Net
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CY2023 ssic Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Paid In Kind Interest Investment
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPaidInKindInterestInvestment
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CY2023 ssic Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Proceeds From Sale Of Investments And Principal Repayments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetProceedsFromSaleOfInvestmentsAndPrincipalRepayments
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CY2023 ssic Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Net Realized Gain Loss On Investments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetNetRealizedGainLossOnInvestments
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CY2023 ssic Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Net Change In Unrealized Appreciation Or Depreciation From Investments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisNetChangeInUnrealizedAppreciationOrDepreciationFromInvestments
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CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
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CY2023 us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
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CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPaidInKindInterestInvestment
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FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetNetRealizedGainLossOnInvestments
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ssic Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Net Change In Unrealized Appreciation Or Depreciation From Investments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisNetChangeInUnrealizedAppreciationOrDepreciationFromInvestments
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CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
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us-gaap Management Fee Expense
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CY2022 us-gaap Management Fee Expense
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us-gaap Income Loss From Continuing Operations
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CY2023Q4 us-gaap Management Fee Payable
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CY2022Q4 us-gaap Management Fee Payable
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CY2023 ssic Income Based Incentive Fee Expense
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CY2022 ssic Income Based Incentive Fee Expense
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ssic Income Based Incentive Fee Expense
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CY2023Q4 ssic Income Based Incentive Fee Payable
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CY2022Q4 ssic Income Based Incentive Fee Payable
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CY2023 ssic Capital Gains Incentive Fee Expense
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ssic Capital Gains Incentive Fee Expense
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CY2022 ssic Capital Gains Incentive Fee Expense
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CY2023Q4 ssic Capital Gains Incentive Fee Payable
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CY2022Q4 ssic Capital Gains Incentive Fee Payable
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CY2022 us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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CY2023Q4 us-gaap Common Stock Shares Authorized
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CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2021Q2 us-gaap Common Stock Shares Issued
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Earnings Per Share Basic
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CY2023 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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CY2022 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Adjustments To Additional Paid In Capital Other
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CY2022 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
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CY2022 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
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CY2023Q1 us-gaap Deferred Tax Assets Capital Loss Carryforwards
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CY2023 ssic Payment Of Ordinary Income
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CY2023 us-gaap Payments Of Dividends
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CY2022Q1 us-gaap Payments Of Dividends
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3418714000
CY2022Q1 us-gaap Deferred Tax Assets Deferred Income
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CY2023Q1 us-gaap Tax Basis Of Investments Unrealized Appreciation Depreciation Net
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