2024 Q4 Form 10-Q Financial Statement

#000165495424014477 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $3.244M
YoY Change -47.78%
Cost Of Revenue $4.184M
YoY Change -37.14%
Gross Profit -$940.0K
YoY Change 111.71%
Gross Profit Margin -28.98%
Selling, General & Admin $1.676M
YoY Change -25.87%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $605.0K
YoY Change -56.94%
% of Gross Profit
Operating Expenses $1.836M
YoY Change -22.3%
Operating Profit -$2.776M
YoY Change -1.1%
Interest Expense $2.000K
YoY Change -99.87%
% of Operating Profit
Other Income/Expense, Net -$450.0K
YoY Change -97.4%
Pretax Income -$3.226M
YoY Change -83.96%
Income Tax $403.0K
% Of Pretax Income
Net Earnings -$3.629M
YoY Change -82.01%
Net Earnings / Revenue -111.87%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$0.19
COMMON SHARES
Basic Shares Outstanding 18.15M shares 18.15M shares
Diluted Shares Outstanding 19.03M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $320.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.935M
Prepaid Expenses
Receivables $2.256M
Other Receivables
Total Short-Term Assets $5.639M
YoY Change -68.76%
LONG-TERM ASSETS
Property, Plant & Equipment $2.890M
YoY Change -79.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $22.80M
YoY Change -76.33%
TOTAL ASSETS
Total Short-Term Assets $5.639M
Total Long-Term Assets $22.80M
Total Assets $28.44M
YoY Change -75.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.647M
YoY Change -34.4%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.566M
YoY Change -76.69%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.566M
Total Long-Term Liabilities
Total Liabilities $24.29M
YoY Change -73.11%
SHAREHOLDERS EQUITY
Retained Earnings -$188.3M
YoY Change 12.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.205M
YoY Change
Total Liabilities & Shareholders Equity $28.44M
YoY Change -75.14%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$3.629M
YoY Change -82.01%
Depreciation, Depletion And Amortization $605.0K
YoY Change -56.94%
Cash From Operating Activities
YoY Change
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include allowance for doubtful accounts and credit losses, carrying value of inventory, revenue recognition, accounting for stock-based compensation expense, and income taxes. Actual results could differ from those estimates.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">The global COVID-19 pandemic impacted the operations and purchasing decisions of companies worldwide. It also created significant uncertainty in the global economy. The Company has undertaken measures to protect its employees, partners, customers, and vendors. To date, the Company has been able to provide uninterrupted access to its products and services, including certain employees that are working remotely, and its pre-existing infrastructure that supports secure access to the Company’s internal systems. If the COVID-19 pandemic were to have an increased forward-looking impact on the productivity of the Company’s employees or its partners’ or customers’ decision to use the Company’s products and services, the results of the Company’s operations and overall financial performance may be adversely impacted. As of the date of issuance of the financial statements, the Company is not aware of any specific event or circumstance that would require updates to the Company’s estimates and judgments or revisions to the carrying value of its assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the unaudited condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the unaudited financial statements.</p>
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale Of Other Assets1
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
8991000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
110000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1551000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
87000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-113000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7353000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1991000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4400000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2311000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1098000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
320000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5498000 usd
us-gaap Interest Paid Net
InterestPaidNet
17000 usd
us-gaap Interest Paid Net
InterestPaidNet
2780000 usd
lowlf Payments Of Property And Equipment Not Yet Paid
PaymentsOfPropertyAndEquipmentNotYetPaid
0 usd
lowlf Payments Of Property And Equipment Not Yet Paid
PaymentsOfPropertyAndEquipmentNotYetPaid
26000 usd
us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
3004000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
880000 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
185000 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-28000 usd
us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
0 usd
us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
13793000 usd
lowlf Reversal Of Cultivation Lease Accrual
ReversalOfCultivationLeaseAccrual
2332000 usd
lowlf Reversal Of Cultivation Lease Accrual
ReversalOfCultivationLeaseAccrual
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
443000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1201000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2825000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-90000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
387000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1498000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3190000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-955000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
58000 usd
us-gaap Proceeds From Sale Of Other Assets1
ProceedsFromSaleOfOtherAssets1
595000 usd
us-gaap Proceeds From Sale Of Other Assets1
ProceedsFromSaleOfOtherAssets1
0 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
8991000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
110000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1551000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
87000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-113000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7353000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1991000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4400000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2311000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1098000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
320000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5498000 usd
us-gaap Interest Paid Net
InterestPaidNet
17000 usd
us-gaap Interest Paid Net
InterestPaidNet
2780000 usd
lowlf Payments Of Property And Equipment Not Yet Paid
PaymentsOfPropertyAndEquipmentNotYetPaid
0 usd
lowlf Payments Of Property And Equipment Not Yet Paid
PaymentsOfPropertyAndEquipmentNotYetPaid
26000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
15000 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1128000 usd
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1126000 shares
lowlf Expirations
expirations
-900 shares
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
226000 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1126000 shares
lowlf Expirations
expirations
-900 shares
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
226000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
lowlf Share Based Compensation Arrangements By Share Based Payment Award Options Expired In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpiredInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
403000 usd
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
lowlf Share Based Compensation Arrangements By Share Based Payment Award Options Expired In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpiredInPeriodWeightedAverageExercisePrice
0
CY2024Q3 lowlf Earnings Per Share Basics
EarningsPerShareBasics
-0.19
CY2023Q3 lowlf Earnings Per Share Basics
EarningsPerShareBasics
-1.66
lowlf Earnings Per Share Basics
EarningsPerShareBasics
-0.38
lowlf Earnings Per Share Basics
EarningsPerShareBasics
-1.99
CY2024Q3 lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-0.19
CY2023Q3 lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-1.66
lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-0.38
lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-1.99
CY2024Q3 lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
19031000 shares
CY2023Q3 lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
12177000 shares
lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
19031000 shares
lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
12177000 shares
lowlf Weighted Average Number Of Diluted Share Outstanding
WeightedAverageNumberOfDilutedShareOutstanding
19031000 shares
CY2024Q3 lowlf Basic Share
BasicShare
19031000 shares
CY2023Q3 lowlf Basic Share
BasicShare
12177000 shares
lowlf Basic Share
BasicShare
19031000 shares
lowlf Basic Share
BasicShare
12177000 shares
CY2024Q3 lowlf Earnings Per Share Basics
EarningsPerShareBasics
-0.19
CY2023Q3 lowlf Earnings Per Share Basics
EarningsPerShareBasics
-1.66
lowlf Earnings Per Share Basics
EarningsPerShareBasics
-0.38
lowlf Earnings Per Share Basics
EarningsPerShareBasics
-1.99
CY2024Q3 lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-0.19
CY2023Q3 lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-1.66
lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-0.38
lowlf Earnings Per Shares Diluted
EarningsPerSharesDiluted
-1.99
CY2024Q3 lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
19031000 shares
CY2023Q3 lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
12177000 shares
lowlf Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
12177000 shares
CY2024Q3 lowlf Basic Share
BasicShare
19031000 shares
CY2023Q3 lowlf Basic Share
BasicShare
12177000 shares
lowlf Basic Share
BasicShare
19031000 shares
lowlf Basic Share
BasicShare
12177000 shares
CY2024Q1 lowlf Real Property Description
RealPropertyDescription
the Company, surrendered possession of approximately 10 acres of real property at 139 Zabala Road, Salinas, California (the “Zabala Road Property”) leased by Cypress pursuant to a Lease Agreement dated April 1, 2017 (the “Zabala Road Lease”) with Tinhouse, LLC, dba Tinhouse Partners, LLC, as landlord (the “Landlord”). Prior to vacating the premises on January 12, 2024, the Company had operated a cultivation facility, which included four greenhouses totaling approximately 255,000 square feet, on the Zabala Road Property

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0001654954-24-014477-index.html Edgar Link pending
0001654954-24-014477.txt Edgar Link pending
0001654954-24-014477-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lowlf-20240930.xsd Edgar Link pending
lowlf_10q.htm Edgar Link pending
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lowlf-20240930_lab.xml Edgar Link unprocessable
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lowlf_10q_htm.xml Edgar Link completed