2024 Q1 Form 10-K Financial Statement

#000147793224001766 Filed on April 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $189.0K $149.0K $693.0K
YoY Change 1.61% -12.35% -3.48%
% of Gross Profit
Research & Development $3.000K $2.000K $10.00K
YoY Change -50.0% -9.09%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K
YoY Change 0.0% -66.67%
% of Gross Profit
Operating Expenses $192.0K $151.0K $703.0K
YoY Change 3.23% -13.22% 6290.91%
Operating Profit -$192.0K -$703.0K
YoY Change 3.23% 3.53%
Interest Expense -$190.0K -$103.0K -$477.0K
YoY Change -23.69% -53.6% -2371.43%
% of Operating Profit
Other Income/Expense, Net -$190.0K -$462.0K
YoY Change -18.8% -77.47%
Pretax Income -$382.0K -$254.0K -$1.165M
YoY Change -9.05% -35.86% -57.33%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$382.0K -$254.0K -$1.165M
YoY Change -9.05% -35.86% -57.33%
Net Earnings / Revenue
Basic Earnings Per Share $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

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.00K $67.00K $67.00K
YoY Change -43.33% -61.71% -61.71%
Cash & Equivalents $51.00K $67.00K
Short-Term Investments
Other Short-Term Assets $9.000K $2.000K $2.000K
YoY Change -64.0% -85.71% -85.71%
Inventory
Prepaid Expenses $9.000K $2.000K
Receivables
Other Receivables
Total Short-Term Assets $60.00K $69.00K $69.00K
YoY Change -47.83% -63.49% -63.49%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $29.00K $245.0K $245.0K
YoY Change -94.97% -70.8% -70.8%
Other Assets $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $31.00K $247.0K $247.0K
YoY Change -94.65% -70.67% -70.67%
TOTAL ASSETS
Total Short-Term Assets $60.00K $69.00K $69.00K
Total Long-Term Assets $31.00K $247.0K $247.0K
Total Assets $91.00K $316.0K $316.0K
YoY Change -86.89% -69.35% -69.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $147.0K $133.0K $133.0K
YoY Change 9.7% 11.76% 11.76%
Accrued Expenses $2.048M $1.915M $1.915M
YoY Change 33.25% 33.08% 33.08%
Deferred Revenue
YoY Change
Short-Term Debt $60.00K $60.00K $60.00K
YoY Change -14.29% -45.45% -45.45%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.275M $2.118M $2.118M
YoY Change 29.93% 26.98% 26.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.275M $2.118M $2.118M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.275M $2.118M $2.118M
YoY Change 29.93% 26.98% 26.98%
SHAREHOLDERS EQUITY
Retained Earnings -$72.80M -$72.42M
YoY Change 1.64%
Common Stock $559.0K $559.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.242M -$1.802M -$1.802M
YoY Change
Total Liabilities & Shareholders Equity $91.00K $316.0K $316.0K
YoY Change -86.89% -69.35% -69.35%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$382.0K -$254.0K -$1.165M
YoY Change -9.05% -35.86% -57.33%
Depreciation, Depletion And Amortization $1.000K $1.000K
YoY Change 0.0% -66.67%
Cash From Operating Activities -$42.00K -$10.00K -$190.0K
YoY Change -44.0% -88.51% -45.56%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $26.00K -$8.000K $102.0K
YoY Change -300.0% -69.28%
Cash From Investing Activities $26.00K -$8.000K $102.0K
YoY Change -300.0% -69.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 0.000 -20.00K
YoY Change -100.0% -100.0% -50.0%
NET CHANGE
Cash From Operating Activities -$42.00K -10.00K -190.0K
Cash From Investing Activities $26.00K -8.000K 102.0K
Cash From Financing Activities $0.00 0.000 -20.00K
Net Change In Cash -$16.00K -18.00K -108.0K
YoY Change -81.18% -84.07% 89.47%
FREE CASH FLOW
Cash From Operating Activities -$42.00K -$10.00K -$190.0K
Capital Expenditures
Free Cash Flow
YoY Change

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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 December 31, 2023, we had cash balances of $-0- exceeding the federally insured limits.</p>
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CY2022 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
26655760 shares
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-1165000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-2730000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
559281064 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
559281064 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
559281064 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
559281064 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2022Q4 us-gaap Investments
Investments
839000 usd
CY2023 us-gaap Gain Loss On Investments
GainLossOnInvestments
-477000 usd
CY2023 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
102000 usd
CY2023 mhtx Transfer Of Securities
TransferOfSecurities
-15000 usd
CY2023Q4 us-gaap Investments
Investments
245000 usd
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
559281064 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
559281064 shares
CY2023Q4 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 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
CY2022 mhtx Weighted Average Life Outstanding Beginning Balance
WeightedAverageLifeOutstandingBeginningBalance
P6Y21D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
26500000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26500000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.04
CY2023 mhtx Weighted Average Life Outstanding Beginning Balance
WeightedAverageLifeOutstandingBeginningBalance
P4Y11M19D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
26500000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26500000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.04
CY2023 mhtx Weighted Average Life Outstanding Ending Balance
WeightedAverageLifeOutstandingEndingBalance
P4Y29D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
26500000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26500000 shares
CY2023 mhtx Royalty Percentage On Dental Products
RoyaltyPercentageOnDentalProducts
0.10 pure
CY2023 mhtx Royalty Percentage On Other Licensed Products
RoyaltyPercentageOnOtherLicensedProducts
0.05 pure
CY2022 us-gaap Royalty Expense
RoyaltyExpense
10000 usd
CY2023 us-gaap Royalty Expense
RoyaltyExpense
50000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13746000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13501350 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6988000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6988000 usd
CY2023Q4 mhtx Less Valuation Allowance
LessValuationAllowance
-20734000 usd
CY2022Q4 mhtx Less Valuation Allowance
LessValuationAllowance
-20489350 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
48440000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
47275000 usd
CY2023 mhtx Federal Tax Purposes Expire
FederalTaxPurposesExpire
through 2031
CY2023 mhtx State Tax Purposes Expire
StateTaxPurposesExpire
through 2025
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 mhtx Tax Benefit Computed At21
TaxBenefitComputedAt21
0 usd
CY2022 mhtx Tax Benefit Computed At21
TaxBenefitComputedAt21
0 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 usd
CY2023 mhtx Change In Carryovers And Tax Attributes
ChangeInCarryoversAndTaxAttributes
0 usd
CY2022 mhtx Change In Carryovers And Tax Attributes
ChangeInCarryoversAndTaxAttributes
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1915000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1439000 usd

Files In Submission

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0001477932-24-001766-index-headers.html Edgar Link pending
0001477932-24-001766-index.html Edgar Link pending
0001477932-24-001766.txt Edgar Link pending
0001477932-24-001766-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mhtx-20231231.xsd Edgar Link pending
mhtx_10k.htm Edgar Link pending
mhtx_ex311.htm Edgar Link pending
mhtx_ex321.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
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R28.htm Edgar Link pending
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R3.htm Edgar Link pending
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R32.htm Edgar Link pending
mhtx-20231231_cal.xml Edgar Link unprocessable
mhtx-20231231_def.xml Edgar Link unprocessable
mhtx-20231231_lab.xml Edgar Link unprocessable
mhtx-20231231_pre.xml Edgar Link unprocessable
mhtx_10k_htm.xml Edgar Link completed
R33.htm Edgar Link pending
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R35.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable