$MINM
MINIM, INC.

2024 Q3 Form 10-Q Financial Statement

#000182912624005670 Filed on August 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $611.6K
YoY Change -87.15%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $625.1K $488.5K
YoY Change -83.21% -91.78%
Operating Profit -$625.1K -$488.5K
YoY Change -90.7% -91.05%
Interest Expense -$20.00
YoY Change -100.02%
% of Operating Profit
Other Income/Expense, Net $20.00
YoY Change -100.02%
Pretax Income -$625.1K -$488.5K
YoY Change -90.84% -91.23%
Income Tax -$554.00
% Of Pretax Income
Net Earnings -$625.1K -$487.9K
YoY Change -90.84% -91.28%
Net Earnings / Revenue
Basic Earnings Per Share -$0.22 -$0.17
Diluted Earnings Per Share -$0.22 -$0.17
COMMON SHARES
Basic Shares Outstanding 2.810M shares 2.966M shares
Diluted Shares Outstanding 2.867M shares 2.810M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $191.7K $630.8K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $215.8K $654.9K
YoY Change -98.47% -96.94%
LONG-TERM ASSETS
Property, Plant & Equipment $189.1K $264.0K
YoY Change -66.21% -57.26%
Goodwill
YoY Change
Intangibles $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Investments
YoY Change
Other Assets $28.31K $34.38K
YoY Change -94.75% -94.12%
Total Long-Term Assets $217.4K $298.4K
YoY Change -81.74% -77.7%
TOTAL ASSETS
Total Short-Term Assets $215.8K $654.9K
Total Long-Term Assets $217.4K $298.4K
Total Assets $433.2K $953.3K
YoY Change -97.16% -95.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $307.8K $263.7K
YoY Change -96.98% -96.98%
Accrued Expenses $684.3K $1.094M
YoY Change -51.09% -48.61%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $992.1K $1.358M
YoY Change -93.11% -91.05%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $992.1K $1.358M
Total Long-Term Liabilities
Total Liabilities $992.1K $1.358M
YoY Change -93.45% -91.44%
SHAREHOLDERS EQUITY
Retained Earnings -$96.84M -$96.22M
YoY Change 6.07% 13.86%
Common Stock $488.6K $481.1K
YoY Change 3.52% 1.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$558.9K -$404.7K
YoY Change
Total Liabilities & Shareholders Equity $433.2K $953.3K
YoY Change -97.16% -95.81%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$625.1K -$487.9K
YoY Change -90.84% -91.28%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity File Number
EntityFileNumber
1-37649
dei Entity Registrant Name
EntityRegistrantName
MINIM, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
04-2621506
dei Entity Address Address Line1
EntityAddressAddressLine1
848 Elm Street
dei Entity Address City Or Town
EntityAddressCityOrTown
Manchester
dei Entity Address State Or Province
EntityAddressStateOrProvince
NH
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
03101
dei City Area Code
CityAreaCode
(833)
dei Local Phone Number
LocalPhoneNumber
966-4646
dei Security12b Title
Security12bTitle
Common Stock, $0.01 per share
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dei Document Period End Date
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dei Document Type
DocumentType
10-Q
dei Trading Symbol
TradingSymbol
MINM
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
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dei Entity Interactive Data Current
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dei Entity Filer Category
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1030110 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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630816 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
781625 usd
CY2023Q2 us-gaap Stockholders Equity Reverse Stock Split
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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2800000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-96215645 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
639893 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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0 usd
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0 usd
CY2024Q2 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
0 usd
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OtherInventoryNetOfReserves
1700000 usd
CY2024Q2 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
283113 usd
CY2024Q2 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
134944 usd
CY2023Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
229950 usd
CY2024Q2 MINM Board Of Director Fees
BoardOfDirectorFees
248000 usd
CY2024Q2 MINM Accrued Sales Allowances Current And Noncurrent
AccruedSalesAllowancesCurrentAndNoncurrent
26905 usd
CY2023Q4 MINM Accrued Sales Allowances Current And Noncurrent
AccruedSalesAllowancesCurrentAndNoncurrent
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CY2024Q2 MINM Accrued Sales And Use Tax Current And Noncurrent
AccruedSalesAndUseTaxCurrentAndNoncurrent
150009 usd
CY2023Q4 MINM Accrued Sales And Use Tax Current And Noncurrent
AccruedSalesAndUseTaxCurrentAndNoncurrent
150009 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
251235 usd
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1094206 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1077843 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
9061 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
40413 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
22512 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
54913 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
8900 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
14050 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
17800 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
9061 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
49313 usd
us-gaap Lease Cost
LeaseCost
36562 usd
us-gaap Lease Cost
LeaseCost
72713 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y8M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.000 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038 pure
us-gaap Operating Lease Payments
OperatingLeasePayments
22512 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
82266 usd
CY2024Q2 us-gaap Royalty Expense
RoyaltyExpense
0 usd
CY2023Q2 us-gaap Royalty Expense
RoyaltyExpense
1700000 usd
us-gaap Royalty Expense
RoyaltyExpense
0 usd
us-gaap Royalty Expense
RoyaltyExpense
3400000 usd
CY2023Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
5000000.0 usd
CY2024Q1 us-gaap Payments For Royalties
PaymentsForRoyalties
1400000 usd
MINM Contingent Amount
ContingentAmount
300000 usd
CY2024Q3 us-gaap Payment For Contingent Consideration Liability Operating Activities
PaymentForContingentConsiderationLiabilityOperatingActivities
300000 usd
CY2024Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
38500000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-554 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24976 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11216 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24976 usd
CY2024Q2 us-gaap Area Of Land
AreaOfLand
2656
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
0 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
9000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
14000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
18000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-487912 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5597681 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2809689 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1888274 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2790144 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1884195 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2809689 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1888274 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2790144 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1884195 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.96
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.13
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5230769 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5230769 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22717 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22717 shares
MINM Warrants To Purchase
WarrantsToPurchase
2800000 shares
MINM Warrants To Purchase
WarrantsToPurchase
2800000 shares
CY2024Q1 MINM Warrants To Purchase Value
WarrantsToPurchaseValue
4700000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
1.620 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2024Q1 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1400000 usd
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
4500000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
1400000 usd

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