2024 Q4 Form 10-Q Financial Statement

#000095017024126343 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.450M
YoY Change 7.39%
% of Gross Profit
Research & Development $1.800M
YoY Change 157.14%
% of Gross Profit
Depreciation & Amortization $5.180K
YoY Change
% of Gross Profit
Operating Expenses $3.309M
YoY Change 54.14%
Operating Profit -$3.309M
YoY Change 188.53%
Interest Expense $447.9K
YoY Change 1.78%
% of Operating Profit
Other Income/Expense, Net $9.102K
YoY Change -164.31%
Pretax Income -$2.852M
YoY Change 296.14%
Income Tax
% Of Pretax Income
Net Earnings -$2.852M
YoY Change 294.43%
Net Earnings / Revenue
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.06
COMMON SHARES
Basic Shares Outstanding 49.05M 49.05M
Diluted Shares Outstanding 49.05M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.28M
YoY Change -17.9%
Cash & Equivalents $42.28M
Short-Term Investments
Other Short-Term Assets $984.9K
YoY Change 96.97%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $43.27M
YoY Change -18.36%
LONG-TERM ASSETS
Property, Plant & Equipment $30.81K
YoY Change -39.87%
Goodwill $9.600M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.00K
YoY Change -73.27%
Total Long-Term Assets $14.85M
YoY Change -1.89%
TOTAL ASSETS
Total Short-Term Assets $43.27M
Total Long-Term Assets $14.85M
Total Assets $58.12M
YoY Change -14.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $708.2K
YoY Change -3.89%
Accrued Expenses $1.889M
YoY Change -10.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.597M
YoY Change -7.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $255.2K
YoY Change -44.99%
Total Long-Term Liabilities $255.2K
YoY Change -44.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.597M
Total Long-Term Liabilities $255.2K
Total Liabilities $3.054M
YoY Change -11.92%
SHAREHOLDERS EQUITY
Retained Earnings -$423.9M
YoY Change 2.49%
Common Stock $479.1M
YoY Change 0.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.07M
YoY Change
Total Liabilities & Shareholders Equity $58.12M
YoY Change -14.7%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$2.852M
YoY Change 294.43%
Depreciation, Depletion And Amortization $5.180K
YoY Change
Cash From Operating Activities -$2.032M
YoY Change 48.32%
INVESTING ACTIVITIES
Capital Expenditures $10.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $200.00
YoY Change
Cash From Investing Activities $190.00
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 -2.032M
Cash From Investing Activities 190.0
Cash From Financing Activities
Net Change In Cash -2.032M
YoY Change 48.31%
FREE CASH FLOW
Cash From Operating Activities -$2.032M
Capital Expenditures $10.00
Free Cash Flow -$2.032M
YoY Change 48.33%

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</span></p>
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
70720
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
64024
us-gaap Operating Lease Payments
OperatingLeasePayments
204177
us-gaap Operating Lease Payments
OperatingLeasePayments
189622
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
74378
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
64011
us-gaap Operating Lease Cost
OperatingLeaseCost
206228
us-gaap Operating Lease Cost
OperatingLeaseCost
190240
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
201976
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
215926
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
255150
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
410660
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
457126
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
626586
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M21D
CY2024Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.096
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.093
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
59923
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
226646
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
206483
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17269
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
510321
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
53195
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
457126
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7781749
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1100000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.51
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
521905
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.51
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8359844
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.18
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7482344
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.61
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
504862
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
219142
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
927747
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
948115
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.6
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8359844
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8359844
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8304749
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8304749
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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