$MGRM
Monogram Technologies Inc

2024 Q3 Form 10-Q Financial Statement

#000141057824001488 Filed on August 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $0.00 $365.0K
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $1.208M $605.3K
YoY Change -59.74% -73.75%
% of Gross Profit
Research & Development $2.426M $3.636M
YoY Change -11.4% 34.38%
% of Gross Profit
Depreciation & Amortization $106.8K $102.3K
YoY Change 6.84% -48.4%
% of Gross Profit
Operating Expenses $3.634M $4.242M
YoY Change -36.68% -15.38%
Operating Profit -$3.634M
YoY Change -36.68%
Interest Expense $96.07K $222.4K
YoY Change 60.12% -108.65%
% of Operating Profit
Other Income/Expense, Net $96.07K $0.00
YoY Change -80.85% -100.0%
Pretax Income -$3.537M -$3.654M
YoY Change -32.45% -50.12%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.537M -$3.654M
YoY Change -32.45% -50.12%
Net Earnings / Revenue -1001.18%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.11 -$0.12
COMMON SHARES
Basic Shares Outstanding 31.70M 31.67M 31.13M
Diluted Shares Outstanding 31.56M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.306M $13.59M
YoY Change -57.27% 29.81%
Cash & Equivalents $7.306M $13.59M
Short-Term Investments
Other Short-Term Assets $11.05K $664.3K
YoY Change -99.22% -15.7%
Inventory $297.7K $4.550K
Prepaid Expenses
Receivables $0.00 $365.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.121M $14.62M
YoY Change -56.12% 29.86%
LONG-TERM ASSETS
Property, Plant & Equipment $848.7K $1.412M
YoY Change -16.85% 30.44%
Goodwill
YoY Change
Intangibles $443.8K $548.8K
YoY Change -32.12% -27.68%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.695M $1.961M
YoY Change -23.09% -19.43%
TOTAL ASSETS
Total Short-Term Assets $8.121M $14.62M
Total Long-Term Assets $1.695M $1.961M
Total Assets $9.817M $16.58M
YoY Change -52.6% 21.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.668M $2.462M
YoY Change 14.62% 271.29%
Accrued Expenses $677.4K $356.0K
YoY Change 90.9% -52.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.479M $2.818M
YoY Change -69.33% -68.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $296.0K $363.7K
YoY Change -31.17% -26.07%
Total Long-Term Liabilities $296.0K $363.7K
YoY Change -31.17% -26.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.479M $2.818M
Total Long-Term Liabilities $296.0K $363.7K
Total Liabilities $2.775M $3.182M
YoY Change -67.4% -66.65%
SHAREHOLDERS EQUITY
Retained Earnings -$58.55M -$51.51M
YoY Change 24.96% 36.4%
Common Stock $31.67K $31.34K
YoY Change 8.26% 223.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.042M $13.40M
YoY Change
Total Liabilities & Shareholders Equity $9.817M $16.58M
YoY Change -52.6% 21.1%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$3.537M -$3.654M
YoY Change -32.45% -50.12%
Depreciation, Depletion And Amortization $106.8K $102.3K
YoY Change 6.84% -48.4%
Cash From Operating Activities -$2.827M -$3.113M
YoY Change -52.0% -7.17%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $24.91K
YoY Change -100.0% -88.6%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$24.91K
YoY Change -100.0% -88.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.64K 1.848M
YoY Change -99.64% -50.69%
NET CHANGE
Cash From Operating Activities -2.827M -3.113M
Cash From Investing Activities 0.000 -24.91K
Cash From Financing Activities 55.64K 1.848M
Net Change In Cash -2.771M -1.290M
YoY Change -129.61% -832.52%
FREE CASH FLOW
Cash From Operating Activities -$2.827M -$3.113M
Capital Expenditures $0.00 $24.91K
Free Cash Flow -$2.827M -$3.137M
YoY Change -52.24% -12.16%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">In preparing financial statements in conformity with generally accepted accounting principles, management is required 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. The Company’s most significant estimates relate to the fair value of the warrant liability, valuations of stock-based compensation, and the income tax valuation allowance. On a continual basis, management reviews its estimates, utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.</p>
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CY2023Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
145956
CY2024Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
372043
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
349323
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
11053
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
164433
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
814999
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
664262
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
448455
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
141131
CY2024Q2 mgrm Accrued Common Stock Purchase Liability Current
AccruedCommonStockPurchaseLiabilityCurrent
102708
CY2023Q4 mgrm Accrued Common Stock Purchase Liability Current
AccruedCommonStockPurchaseLiabilityCurrent
44333
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
30625
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5500
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
95567
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36720
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
677356
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
227684
CY2024Q1 mgrm Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
246458
CY2024Q1 mgrm Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
246458
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.83
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.83
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5200000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4904266
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.93
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
61500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
68688
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.41
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4897078
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.94
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M15D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2927451
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.75
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5081900
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M20D
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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