2022 Q3 Form 10-Q Financial Statement

#000147793222006093 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $9.000K $41.00K $0.00
YoY Change -18.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $175.0K $193.0K $180.0K
YoY Change 0.0% -7.66% -0.55%
% of Gross Profit
Research & Development $2.000K $2.000K $3.000K
YoY Change -33.33% 0.0% 0.0%
% of Gross Profit
Depreciation & Amortization $0.00 $1.000K $1.000K
YoY Change -100.0% -66.67% 0.0%
% of Gross Profit
Operating Expenses $2.000K $2.000K $3.000K
YoY Change -33.33% 0.0% 0.0%
Operating Profit -$168.0K -$154.0K -$183.0K
YoY Change -5.62% -4.35% -0.54%
Interest Expense $7.000K $6.000K -$464.0K
YoY Change 0.0% -14.29% -7833.33%
% of Operating Profit
Other Income/Expense, Net $97.00K -$1.462M -$464.0K
YoY Change -109.92% -39.64% -245.91%
Pretax Income -$71.00K -$1.616M -$647.0K
YoY Change -93.86% -37.44% -582.84%
Income Tax
% Of Pretax Income
Net Earnings -$71.00K -$1.616M -$647.0K
YoY Change -93.86% -37.44% -582.84%
Net Earnings / Revenue -788.89% -3941.46%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 559.3M shares 559.3M shares 559.3M shares
Diluted Shares Outstanding 559.3M shares 559.3M shares 559.3M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $288.0K $386.0K $121.0K
YoY Change -21.31% -14.6% -52.36%
Cash & Equivalents $288.0K $386.0K $121.0K
Short-Term Investments
Other Short-Term Assets $8.000K $14.00K $19.00K
YoY Change 14.29% 16.67% 11.76%
Inventory
Prepaid Expenses $8.000K $14.00K $19.00K
Receivables
Other Receivables
Total Short-Term Assets $296.0K $400.0K $440.0K
YoY Change -56.02% -47.64% -22.94%
LONG-TERM ASSETS
Property, Plant & Equipment $2.000K $2.000K $3.000K
YoY Change -60.0% -60.0% -62.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.064M $960.0K $2.444M
YoY Change -62.08% -74.63% -60.57%
Other Assets $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $1.068M $964.0K $2.449M
YoY Change -62.03% -74.57% -62.38%
TOTAL ASSETS
Total Short-Term Assets $296.0K $400.0K $440.0K
Total Long-Term Assets $1.068M $964.0K $2.449M
Total Assets $1.364M $1.364M $2.889M
YoY Change -60.87% -70.05% -59.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $115.0K $118.0K $107.0K
YoY Change -25.32% -27.16% -36.69%
Accrued Expenses $1.351M $1.273M $1.201M
YoY Change 24.98% 28.2% 28.45%
Deferred Revenue
YoY Change
Short-Term Debt $139.0K $143.0K $135.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.605M $1.534M $1.443M
YoY Change 29.96% 32.81% 30.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.605M $1.534M $1.443M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.605M $1.534M $1.443M
YoY Change 18.1% 20.6% 18.86%
SHAREHOLDERS EQUITY
Retained Earnings -$70.85M -$70.78M -$69.17M
YoY Change 3.46% 5.13%
Common Stock $559.0K $559.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.299M -$1.228M $388.0K
YoY Change
Total Liabilities & Shareholders Equity $1.364M $1.364M $2.889M
YoY Change -60.87% -70.05% -59.19%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$71.00K -$1.616M -$647.0K
YoY Change -93.86% -37.44% -582.84%
Depreciation, Depletion And Amortization $0.00 $1.000K $1.000K
YoY Change -100.0% -66.67% 0.0%
Cash From Operating Activities -$88.00K -$63.00K -$111.0K
YoY Change -1.12% -38.24% 15.63%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $328.0K
YoY Change 9.33%
Cash From Investing Activities $0.00 $328.0K $0.00
YoY Change -100.0% 9.33% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K 0.000 $0.00
YoY Change
NET CHANGE
Cash From Operating Activities -88.00K -63.00K -$111.0K
Cash From Investing Activities 0.000 328.0K $0.00
Cash From Financing Activities -10.00K 0.000 $0.00
Net Change In Cash -98.00K 265.0K -$111.0K
YoY Change 13.95% 33.84% 12.12%
FREE CASH FLOW
Cash From Operating Activities -$88.00K -$63.00K -$111.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$63.00K -$111.0K
YoY Change -38.24% 19.35%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amount of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. A significant estimate includes the carrying value of the Company’s patents, fair value of the Company’s common stock, assumptions used in calculating the value of stock options, depreciation and amortization.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s cash accounts are federally insured up to $250,000 for each financial institution we hold our accounts in. As of June 30, 2022 and December 31, 2021, we had cash balances of $102,000 and $0 exceeding the federally insured limits.</p>
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-0.00
us-gaap Profit Loss
ProfitLoss
-2263000 usd
us-gaap Profit Loss
ProfitLoss
-2449000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
559281064 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
559281064 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
559281064 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
559281064 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26500000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.04
CY2021 mhtx Weighted Average Life Outstanding Ending Balance
WeightedAverageLifeOutstandingEndingBalance
P6Y21D
mhtx Begining Balance
BeginingBalance
2901000 usd
mhtx Change Due To The Sale Of Securities
ChangeDueToTheSaleOfSecurities
-28000 usd
mhtx Change In The Unrealized Fair Value Of Securities
ChangeInTheUnrealizedFairValueOfSecurities
-1913000 usd
mhtx Ending Balance
EndingBalance
960000 usd
CY2019Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
7000 usd
mhtx Schedule Of Debt Discount
ScheduleOfDebtDiscount
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Notes payable</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">150,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Less: Discounts on notes payable</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(7,000 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Notes payable, net of discounts</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">143,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2022Q2 us-gaap Notes Payable Current
NotesPayableCurrent
150000 usd
CY2022Q2 mhtx Less Discounts On Notes Payable
LessDiscountsOnNotesPayable
-7000 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
143000 usd
mhtx Aggregate Intrinsic Value Expired
AggregateIntrinsicValueExpired
0 usd
CY2022Q2 mhtx Weighted Average Exercise Price Ending
WeightedAverageExercisePriceEnding
0.04
mhtx Weighted Average Life Outstanding Ending Balance
WeightedAverageLifeOutstandingEndingBalance
P5Y10M13D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26500000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26500000 shares
mhtx Royalty Percentage On Dental Products
RoyaltyPercentageOnDentalProducts
0.10 pure
mhtx Royalty Percentage On Other Licensed Products
RoyaltyPercentageOnOtherLicensedProducts
0.05 pure
us-gaap Royalty Expense
RoyaltyExpense
41000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1273000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1129000 usd

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