2024 Q4 Form 10-Q Financial Statement

#000107997324001503 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $22.92K $40.50K
YoY Change
Cost Of Revenue $1.236K $2.510K
YoY Change
Gross Profit $21.68K $37.99K
YoY Change
Gross Profit Margin 94.61% 93.8%
Selling, General & Admin $1.490M $1.480M
YoY Change 10.41% 12.37%
% of Gross Profit 6874.91% 3895.89%
Research & Development $3.828M $3.897M
YoY Change -5.26% 2.25%
% of Gross Profit 17658.21% 10257.78%
Depreciation & Amortization $387.0K $321.6K
YoY Change 59.61% 12.1%
% of Gross Profit 1784.97% 846.64%
Operating Expenses $3.828M $5.377M
YoY Change -5.26% 4.85%
Operating Profit -$5.297M -$5.339M
YoY Change -1.66%
Interest Expense $206.5K $187.7K
YoY Change 716.22% 3357.46%
% of Operating Profit
Other Income/Expense, Net -$66.00 -$3.930K
YoY Change -107.24%
Pretax Income -$5.301M -$4.940M
YoY Change 2.73% -2.55%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$5.301M -$4.940M
YoY Change 2.64% -2.55%
Net Earnings / Revenue -23131.93% -12196.74%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$0.04 -$0.04
COMMON SHARES
Basic Shares Outstanding 122.4M shares 120.7M shares 116.9M shares
Diluted Shares Outstanding 120.9M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.88M $31.43M
YoY Change -12.95% 30.41%
Cash & Equivalents $26.88M $31.43M
Short-Term Investments
Other Short-Term Assets $562.1K $1.238M
YoY Change 0.37% 102.44%
Inventory
Prepaid Expenses
Receivables $26.81K $30.38K
Other Receivables $0.00
Total Short-Term Assets $27.47M $32.70M
YoY Change -12.62% 28.97%
LONG-TERM ASSETS
Property, Plant & Equipment $5.775M $4.991M
YoY Change 60.53% 98.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $9.765M $9.084M
YoY Change 27.41% 132.44%
TOTAL ASSETS
Total Short-Term Assets $27.47M $32.70M
Total Long-Term Assets $9.765M $9.084M
Total Assets $37.24M $41.78M
YoY Change -4.78% 42.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $449.8K $1.448M
YoY Change 4.71% 82.85%
Accrued Expenses $461.5K $743.6K
YoY Change 77.5% 30.35%
Deferred Revenue $27.38K $39.88K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.122M $2.583M
YoY Change 28.64% 71.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.642M $2.767M
YoY Change -5.97% 1240.39%
Total Long-Term Liabilities $2.642M $2.767M
YoY Change -6.01% 1240.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.122M $2.583M
Total Long-Term Liabilities $2.642M $2.767M
Total Liabilities $3.765M $5.350M
YoY Change 2.19% 212.77%
SHAREHOLDERS EQUITY
Retained Earnings -$144.9M -$127.9M
YoY Change 17.85% 19.69%
Common Stock $121.5K $118.1K
YoY Change 4.1% -99.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.47M $36.43M
YoY Change
Total Liabilities & Shareholders Equity $37.24M $41.78M
YoY Change -4.78% 42.78%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$5.301M -$4.940M
YoY Change 2.64% -2.55%
Depreciation, Depletion And Amortization $387.0K $321.6K
YoY Change 59.61% 12.1%
Cash From Operating Activities -$3.590M -$2.322M
YoY Change 23.38% -16.03%
INVESTING ACTIVITIES
Capital Expenditures $625.4K $1.571M
YoY Change -28.11% 350.98%
Acquisitions
YoY Change
Other Investing Activities $2.710K
YoY Change -105.02%
Cash From Investing Activities -$625.4K -$1.571M
YoY Change -28.93% 290.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.903M 4.449M
YoY Change -5.82% 97.86%
NET CHANGE
Cash From Operating Activities -3.590M -2.322M
Cash From Investing Activities -625.4K -1.571M
Cash From Financing Activities 1.903M 4.449M
Net Change In Cash -2.313M 555.4K
YoY Change 30.7% -160.41%
FREE CASH FLOW
Cash From Operating Activities -$3.590M -$2.322M
Capital Expenditures $625.4K $1.571M
Free Cash Flow -$4.216M -$3.893M
YoY Change 11.53% 25.03%

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<p id="xdx_84A_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zbMlpawIR8m5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86E_zqfDsCCfNov7">Reclassifications</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">Certain reclassifications have been made to the 2023 financial statement in order to conform to the 2024 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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CY2024Q3 lwlg Investor Relations
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q3 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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lwlg Retire Property And Equipment
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us-gaap Gain Loss On Disposition Of Assets
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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659250 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
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1295293 usd
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1254501 usd
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us-gaap Amortization Of Intangible Assets
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CY2017Q4 lwlg Lease Area
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13420 sqft
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P61M
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2017-11-01
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2022-11-30
CY2017Q4 us-gaap Lessee Operating Lease Renewal Term
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P24M
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2017Q4 lwlg Prepaid Rents
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CY2017Q4 lwlg Commencement Date
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2019-11-01
CY2019Q4 lwlg Cost Of Cosmetic Improvements For Squre Foot
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3.00
CY2017Q4 us-gaap Security Deposit
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36525 usd
CY2017Q4 lwlg Original Lessee Paid
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CY2024Q3 lwlg Deferred Lease Liability
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6964 usd
CY2019Q4 lwlg Percentage Of Estimated Incremental Borrowing Rate
PercentageOfEstimatedIncrementalBorrowingRate
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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885094 usd
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
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P128M
CY2022Q4 us-gaap Lease Expiration Date1
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2023-06-01
CY2022Q4 us-gaap Sale Leaseback Transaction Monthly Rental Payments
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30517 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
377288 usd
CY2022Q4 lwlg Percentage Of Rent Increase Annual Base Rent
PercentageOfRentIncreaseAnnualBaseRent
0.03 pure
CY2022Q4 lwlg Lease Allowance
LeaseAllowance
43216 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2945322 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2694971 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2804357 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
94322 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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387666 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
399199 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
411174 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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423612 usd
CY2024Q3 lwlg Lessee Operating Lease Liability Payments Due After Year Four
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2357571 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4073544 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1269187 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2804357 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
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0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
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0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q3 us-gaap Unrecognized Tax Benefits
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0 usd
CY2024Q3 us-gaap Unrecognized Tax Benefits
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0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
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0 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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4063185 shares
lwlg Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumption Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionMethodUsed
Black-Scholes
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P10Y
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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3866879 usd
us-gaap Allocated Share Based Compensation Expense
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3773180 usd
us-gaap Allocated Share Based Compensation Expense
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5283367 usd
CY2024Q3 lwlg Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value Options
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValueOptions
10209133 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10209133 usd
CY2024Q3 us-gaap Share Price
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2.76
lwlg Stocks Issued During Period Shares Stock Options Exercised
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365000 shares
us-gaap Proceeds From Stock Options Exercised
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238200 usd
lwlg Stock Issued During Period Shares Stock Warrants Exercised
StockIssuedDuringPeriodSharesStockWarrantsExercised
19000 shares
us-gaap Proceeds From Warrant Exercises
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14250 usd
CY2024Q3 us-gaap Unamortized Debt Issuance Expense
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506925 usd
CY2023Q3 us-gaap Unamortized Debt Issuance Expense
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496736 usd
CY2024Q3 us-gaap Defined Contribution Plan Cost Recognized
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36432 usd
CY2023Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
18554 usd
us-gaap Defined Contribution Plan Cost Recognized
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95524 usd
us-gaap Defined Contribution Plan Cost Recognized
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51413 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
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false

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