$MCVT
Mill City Ventures III, Ltd

2022 Q3 Form 10-Q Financial Statement

#000141057822002643 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue -$64.57K $734.3K $454.4K
YoY Change -112.51% 72.61% 3399.6%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.133M $454.5K $478.9K
YoY Change 372.92% 81.67% -10.3%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.180M $502.3K $545.8K
YoY Change 392.44% 100.78% 2.24%
Operating Profit
YoY Change
Interest Expense $46.78K $47.79K $66.94K
YoY Change -109.64% -93.22% -97.2%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$64.57K $734.3K $571.1K
YoY Change -308.36% -35.03% -76.28%
Income Tax -$28.44K $216.2K $159.0K
% Of Pretax Income 29.45% 27.84%
Net Earnings -$36.13K $518.0K $412.1K
YoY Change -215.47% -33.72% -76.38%
Net Earnings / Revenue 70.55% 90.7%
Basic Earnings Per Share -$0.01 $0.05 $0.04
Diluted Earnings Per Share -$6.554K $0.05 $0.04
COMMON SHARES
Basic Shares Outstanding 6.075M 10.85M 10.79M
Diluted Shares Outstanding 10.85M 10.79M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.862M $629.6K $71.02K
YoY Change -48.21% -58.44% -85.77%
Cash & Equivalents $1.862M $629.6K $71.02K
Short-Term Investments
Other Short-Term Assets $116.3K $133.6K $29.66K
YoY Change -9.61% -29.25% -73.13%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.167M $1.453M $913.7K
YoY Change -29.69% -38.97% -14.58%
LONG-TERM ASSETS
Property, Plant & Equipment $21.56K $26.80K $0.00
YoY Change 123.19% 87.68% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $149.3K $149.3K $2.013M
YoY Change -89.5% -93.42% -23.16%
Other Assets $4.000K
YoY Change
Total Long-Term Assets $18.09M $15.37M $20.09M
YoY Change 63.45% 16.88% 49.0%
TOTAL ASSETS
Total Short-Term Assets $3.167M $1.453M $913.7K
Total Long-Term Assets $18.09M $15.37M $20.09M
Total Assets $21.26M $16.82M $21.00M
YoY Change 36.5% 8.32% 44.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $134.0K $51.78K $104.9K
YoY Change 385.23% 27.26% 75.73%
Accrued Expenses $150.5K $228.1K $1.434M
YoY Change -86.94% -75.63% 133.38%
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 $284.5K $279.9K $1.539M
YoY Change -87.58% -71.34% 128.29%
LONG-TERM LIABILITIES
Long-Term Debt $2.313M $2.075M $5.325M
YoY Change
Other Long-Term Liabilities $272.0K
YoY Change 88.89%
Total Long-Term Liabilities $2.313M $2.075M $5.597M
YoY Change 3786.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $284.5K $279.9K $1.539M
Total Long-Term Liabilities $2.313M $2.075M $5.597M
Total Liabilities $2.597M $2.394M $7.175M
YoY Change 6.85% 78.69% 518.99%
SHAREHOLDERS EQUITY
Retained Earnings -$1.160M -$1.160M -$1.160M
YoY Change 0.0%
Common Stock $12.22K $10.86K $10.79K
YoY Change 13.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.66M $14.43M $13.83M
YoY Change
Total Liabilities & Shareholders Equity $21.26M $16.82M $21.00M
YoY Change 36.5% 8.32% 44.33%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$36.13K $518.0K $412.1K
YoY Change -215.47% -33.72% -76.38%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.048M $3.809M -$7.190M
YoY Change -246.56% 274.91% 63.33%
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
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.280M -3.250M 5.325M
YoY Change -1087.4%
NET CHANGE
Cash From Operating Activities -3.048M 3.809M -7.190M
Cash From Investing Activities
Cash From Financing Activities 4.280M -3.250M 5.325M
Net Change In Cash 1.232M 558.6K -1.865M
YoY Change -40.75% -45.02% -62.26%
FREE CASH FLOW
Cash From Operating Activities -$3.048M $3.809M -$7.190M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of estimates: </span>The preparation of financial statements in conformity with GAAP requires management and our Board of Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Actual results could differ from those estimates, and the differences could be material. For more information, see the “Valuation of portfolio investments” caption below, and “Note 4 – Fair Value of Financial Instruments” below. For purposes of its financial statement presentation, the Company is an investment company following accounting and reporting guidance in ASC 946.</p>
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Deferred Tax Liabilities
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q2 us-gaap Line Of Credit
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us-gaap Line Of Credit Facility Expiration Date1
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CY2022Q2 us-gaap Common Stock Shares Issued
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CY2022Q2 mcvt Investment Company Net Increase Decrease In Net Assets From Operations
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CY2021Q2 mcvt Investment Company Net Increase Decrease In Net Assets From Operations
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mcvt Investment Company Net Increase Decrease In Net Assets From Operations
InvestmentCompanyNetIncreaseDecreaseInNetAssetsFromOperations
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mcvt Investment Company Net Increase Decrease In Net Assets From Operations
InvestmentCompanyNetIncreaseDecreaseInNetAssetsFromOperations
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Lease Cost
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CY2021Q2 us-gaap Lease Cost
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OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2022Q2 us-gaap Variable Lease Cost
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us-gaap Variable Lease Cost
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CY2022Q2 us-gaap Short Term Lease Cost
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us-gaap Short Term Lease Cost
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CY2022Q2 us-gaap Lease Cost
LeaseCost
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us-gaap Lease Cost
LeaseCost
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OperatingLeaseRightOfUseAsset
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OperatingLeaseLiability
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CY2022Q2 us-gaap Operating Lease Liability Noncurrent
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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12715
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q2 mcvt Lease Payment Less Interest
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CY2022Q2 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Net Asset Value Per Share
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NetAssetValuePerShare
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NetAssetValuePerShare
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CY2018Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
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CY2017Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
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us-gaap Investment Company Investment Income Loss Per Share
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us-gaap Investment Company Gain Loss On Investment Per Share
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us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
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us-gaap Investment Company Gain Loss On Investment Per Share
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us-gaap Investment Company Gain Loss On Investment Per Share
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us-gaap Investment Company Gain Loss On Investment Per Share
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mcvt Investment Company Provision For Income Taxes Per Share
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mcvt Investment Company Provision For Income Taxes Per Share
InvestmentCompanyProvisionForIncomeTaxesPerShare
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mcvt Investment Company Provision For Income Taxes Per Share
InvestmentCompanyProvisionForIncomeTaxesPerShare
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mcvt Investment Company Provision For Income Taxes Per Share
InvestmentCompanyProvisionForIncomeTaxesPerShare
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mcvt Investment Company Stock Based Compensation
InvestmentCompanyStockBasedCompensation
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mcvt Investment Company Stock Based Compensation
InvestmentCompanyStockBasedCompensation
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mcvt Investment Company Stock Based Compensation
InvestmentCompanyStockBasedCompensation
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mcvt Investment Company Stock Based Compensation
InvestmentCompanyStockBasedCompensation
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mcvt Investment Company Stock Based Compensation
InvestmentCompanyStockBasedCompensation
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mcvt Investment Company Repurchase Of Common Stock Per Share
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mcvt Investment Company Repurchase Of Common Stock Per Share
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mcvt Investment Company Repurchase Of Common Stock Per Share
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mcvt Investment Company Repurchase Of Common Stock Per Share
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mcvt Investment Company Repurchase Of Common Stock Per Share
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us-gaap Investment Company Distribution To Shareholders Per Share
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us-gaap Investment Company Distribution To Shareholders Per Share
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us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
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us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
0.05
us-gaap Investment Company Distribution To Shareholders Per Share
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1.33
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1.31
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0.96
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1.41
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1.22
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MarketValueOfInvestmentsPerShare
0.65
CY2019Q2 mcvt Market Value Of Investments Per Share
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0.70
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CommonStockSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Assets Net
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CY2021Q2 us-gaap Assets Net
AssetsNet
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CY2020Q2 us-gaap Assets Net
AssetsNet
10221718
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AssetsNet
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CY2018Q2 us-gaap Assets Net
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us-gaap Investment Company Expense Ratio After Incentive Allocation
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us-gaap Investment Company Expense Ratio After Incentive Allocation
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CY2021Q2 mcvt Average Assets Net
AverageAssetsNet
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CY2020Q2 mcvt Average Assets Net
AverageAssetsNet
10025622
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AverageAssetsNet
12304975
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us-gaap Investment Company Total Return
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0.0645
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.2130
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.0330
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.0588
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.0805
mcvt Investment Company Portfolio Turnover Rate
InvestmentCompanyPortfolioTurnoverRate
65.55
mcvt Investment Company Portfolio Turnover Rate
InvestmentCompanyPortfolioTurnoverRate
75.65
mcvt Investment Company Portfolio Turnover Rate
InvestmentCompanyPortfolioTurnoverRate
11.90
mcvt Investment Company Portfolio Turnover Rate
InvestmentCompanyPortfolioTurnoverRate
7.11
mcvt Investment Company Portfolio Turnover Rate
InvestmentCompanyPortfolioTurnoverRate
11.55
us-gaap Investment Company Expense Ratio After Incentive Allocation
InvestmentCompanyExpenseRatioAfterIncentiveAllocation
0.1463
us-gaap Investment Company Expense Ratio After Incentive Allocation
InvestmentCompanyExpenseRatioAfterIncentiveAllocation
0.0770
us-gaap Investment Company Expense Ratio After Incentive Allocation
InvestmentCompanyExpenseRatioAfterIncentiveAllocation
0.0698
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.1801
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0688
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0302
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0640
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0553
mcvt Investment Company Realized Gains Losses Ratio
InvestmentCompanyRealizedGainsLossesRatio
1.94
mcvt Investment Company Realized Gains Losses Ratio
InvestmentCompanyRealizedGainsLossesRatio
61.92
mcvt Investment Company Realized Gains Losses Ratio
InvestmentCompanyRealizedGainsLossesRatio
4.06
mcvt Investment Company Realized Gains Losses Ratio
InvestmentCompanyRealizedGainsLossesRatio
57.36
mcvt Investment Company Realized Gains Losses Ratio
InvestmentCompanyRealizedGainsLossesRatio
-12.79

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