2023 Q3 Form 10-Q Financial Statement

#000107997323001101 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $1.350M $1.175M $987.1K
YoY Change 17.94% 18.99% 46.46%
% of Gross Profit
Research & Development $4.041M $4.166M $2.781M
YoY Change 12.63% 49.79% -0.04%
% of Gross Profit
Depreciation & Amortization $242.5K $236.4K $252.4K
YoY Change -1.64% -6.32% 14.29%
% of Gross Profit
Operating Expenses $4.041M $4.166M $3.768M
YoY Change 12.63% 10.56% 9.03%
Operating Profit -$5.386M -$5.341M -$3.768M
YoY Change 13.82% 41.73%
Interest Expense $25.30K $220.7K -$34.24K
YoY Change -65.42% -744.66% -96.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$5.160M -$5.458M -$3.803M
YoY Change 7.42% 43.53% -16.23%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.165M -$5.458M -$3.803M
YoY Change 7.52% 43.53% -16.23%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04 -$0.05 -$0.03
Diluted Earnings Per Share -$0.04 -$0.05 -$34.08K
COMMON SHARES
Basic Shares Outstanding 116.5M shares 114.4M shares 111.6M shares
Diluted Shares Outstanding 116.5M shares 114.9M shares 111.6M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.88M $32.64M $24.83M
YoY Change 23.41% 31.44% 78.46%
Cash & Equivalents $30.88M $32.64M $24.83M
Short-Term Investments
Other Short-Term Assets $560.0K $812.8K $783.3K
YoY Change -13.46% 3.77% 81.1%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $31.44M $33.45M $25.61M
YoY Change 19.74% 30.59% 78.54%
LONG-TERM ASSETS
Property, Plant & Equipment $3.597M $3.004M $2.548M
YoY Change 35.68% 17.93% -7.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.664M $7.103M $3.394M
YoY Change 96.92% 109.29% -6.97%
TOTAL ASSETS
Total Short-Term Assets $31.44M $33.45M $25.61M
Total Long-Term Assets $7.664M $7.103M $3.394M
Total Assets $39.10M $40.55M $29.01M
YoY Change 29.7% 39.8% 61.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $429.5K $422.0K $333.2K
YoY Change -26.3% 26.66% 146.98%
Accrued Expenses $260.0K $187.8K $260.5K
YoY Change -13.64% -27.93% 9.05%
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 $872.5K $917.6K $724.0K
YoY Change -19.9% 26.74% 48.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.810M $2.858M $323.9K
YoY Change 958.14% 782.44% -41.08%
Total Long-Term Liabilities $2.811M $2.858M $323.9K
YoY Change 958.62% 782.44% -41.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $872.5K $917.6K $724.0K
Total Long-Term Liabilities $2.811M $2.858M $323.9K
Total Liabilities $3.684M $3.776M $1.048M
YoY Change 171.92% 260.34% 1.02%
SHAREHOLDERS EQUITY
Retained Earnings -$122.9M -$117.8M
YoY Change 20.8%
Common Stock $116.7K $155.1M
YoY Change -99.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.42M $36.78M $27.96M
YoY Change
Total Liabilities & Shareholders Equity $39.10M $40.55M $29.01M
YoY Change 29.7% 39.8% 61.2%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$5.165M -$5.458M -$3.803M
YoY Change 7.52% 43.53% -16.23%
Depreciation, Depletion And Amortization $242.5K $236.4K $252.4K
YoY Change -1.64% -6.32% 14.29%
Cash From Operating Activities -$2.910M -$3.255M -$2.700M
YoY Change 18.53% 20.59% 55.28%
INVESTING ACTIVITIES
Capital Expenditures $870.0K $803.3K -$192.6K
YoY Change -208.12% -517.11% 19.57%
Acquisitions
YoY Change
Other Investing Activities $0.00 $590.00
YoY Change -100.0%
Cash From Investing Activities -$880.0K -$802.7K -$192.6K
YoY Change -36.82% 316.81% 19.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.384M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.020M 10.53M 3.384M
YoY Change -50.0% 211.0% -63.58%
NET CHANGE
Cash From Operating Activities -2.910M -3.255M -2.700M
Cash From Investing Activities -880.0K -802.7K -192.6K
Cash From Financing Activities 2.020M 10.53M 3.384M
Net Change In Cash -1.770M 6.468M 492.2K
YoY Change -1022.36% 1213.91% -93.34%
FREE CASH FLOW
Cash From Operating Activities -$2.910M -$3.255M -$2.700M
Capital Expenditures $870.0K $803.3K -$192.6K
Free Cash Flow -$3.780M -$4.059M -$2.507M
YoY Change 129.04% 61.89% 58.93%

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<p id="xdx_847_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zlqnOd6CTyU2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_869_zQx8Yl6B9Suh">Reclassifications</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="background-color: white">Certain reclassifications have been made to the 2022 financial statement in order to conform to the 2023 financial statement presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p>
lwlg Expected Expenditures Per Month
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2023Q2 us-gaap Share Price
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lwlg Stocks Issued During Period Shares Stock Options Exercised
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lwlg Stock Issued During Period Shares Stock Warrants Exercised
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CY2023Q2 us-gaap Defined Contribution Plan Cost Recognized
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CY2022Q2 us-gaap Defined Contribution Plan Cost Recognized
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CY2023Q2 lwlg Non Rule10b51 Arr Adopted Flag
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CY2023Q2 lwlg Rule10b51 Arr Adopted Flag
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