2023 Q4 Form 10-Q Financial Statement

#000149315223041163 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $150.6K $181.5K $76.01K
YoY Change 57.39% 138.82% 104.22%
Cost Of Revenue $48.23K $50.99K $15.50K
YoY Change 73.55% 228.96% -15.58%
Gross Profit $102.3K $130.5K $60.51K
YoY Change 50.77% 115.74% 220.84%
Gross Profit Margin 67.97% 71.91% 79.61%
Selling, General & Admin $7.545M $4.272M $1.375M
YoY Change 471.48% 210.71% -22.52%
% of Gross Profit 7373.65% 3272.57% 2272.3%
Research & Development $387.1K $492.2K $708.2K
YoY Change -43.14% -30.5% 192.96%
% of Gross Profit 378.31% 377.06% 1170.42%
Depreciation & Amortization $210.3K $210.3K $210.4K
YoY Change -0.03% -0.03%
% of Gross Profit 205.51% 161.08% 347.65%
Operating Expenses $8.150M $4.988M $2.309M
YoY Change 268.54% 116.01% 30.11%
Operating Profit -$8.048M -$4.857M -$2.233M
YoY Change 275.44% 117.52% 27.18%
Interest Expense -$7.697M -$7.406M -$810.6K
YoY Change 569.92% 813.6% 1054.37%
% of Operating Profit
Other Income/Expense, Net $18.70M -$27.59M $680.4K
YoY Change 400.09% -4155.41% 250.72%
Pretax Income -$9.766M -$32.45M -$1.553M
YoY Change -58.56% 1990.01% -4.86%
Income Tax
% Of Pretax Income
Net Earnings -$9.766M -$32.45M -$1.553M
YoY Change -58.56% 1990.01% -4.86%
Net Earnings / Revenue -6486.22% -17875.49% -2042.62%
Basic Earnings Per Share -$0.71 -$0.04
Diluted Earnings Per Share -$0.19 -$0.71 -$38.03K
COMMON SHARES
Basic Shares Outstanding 46.67M shares 45.67M shares 40.83M shares
Diluted Shares Outstanding 45.81M shares 40.83M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $148.5K $474.9K $1.182M
YoY Change -70.94% -59.83% 6992.08%
Cash & Equivalents $148.5K $474.9K $1.182M
Short-Term Investments
Other Short-Term Assets $699.4K $661.4K $839.8K
YoY Change -37.87% -21.25% 2299.49%
Inventory $24.86K $99.02K $251.2K
Prepaid Expenses $699.4K $661.4K $839.8K
Receivables $60.28K $43.22K $54.23K
Other Receivables $35.80K $35.77K $14.13K
Total Short-Term Assets $968.8K $1.314M $2.342M
YoY Change -50.45% -43.87% 1333.49%
LONG-TERM ASSETS
Property, Plant & Equipment $12.50K $12.50K $12.61K
YoY Change -0.36% -0.9% -98.92%
Goodwill $5.416M $7.191M $7.191M
YoY Change -24.68% 0.0%
Intangibles $52.24M
YoY Change
Long-Term Investments
YoY Change
Other Assets $152.5K $160.0K $369.1K
YoY Change -58.69% -56.65% -0.51%
Total Long-Term Assets $21.05M $35.61M $61.38M
YoY Change -42.7% -42.0% 15.09%
TOTAL ASSETS
Total Short-Term Assets $968.8K $1.314M $2.342M
Total Long-Term Assets $21.05M $35.61M $61.38M
Total Assets $22.02M $36.92M $63.73M
YoY Change -43.1% -42.06% 19.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.322M $2.137M $848.4K
YoY Change 70.06% 151.85% -39.27%
Accrued Expenses $434.1K $431.4K $420.9K
YoY Change 2.5% 2.5% 61.82%
Deferred Revenue
YoY Change
Short-Term Debt $2.694M $0.00 $213.6K
YoY Change -100.0%
Long-Term Debt Due $14.92M $20.36M $213.6K
YoY Change 1217.23% 9433.18%
Total Short-Term Liabilities $20.60M $48.67M $1.606M
YoY Change 605.14% 2930.3% -30.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $38.60K $1.649M
YoY Change -100.0% -97.66% 818.76%
Other Long-Term Liabilities $6.073M $10.16M $19.52M
YoY Change -61.05% -47.95% 80.98%
Total Long-Term Liabilities $6.073M $10.20M $21.17M
YoY Change -66.89% -51.82% 93.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.60M $48.67M $1.606M
Total Long-Term Liabilities $6.073M $10.20M $21.17M
Total Liabilities $26.68M $58.87M $22.78M
YoY Change 25.44% 158.45% 71.75%
SHAREHOLDERS EQUITY
Retained Earnings -$151.3M -$141.6M -$62.43M
YoY Change 75.99% 126.78%
Common Stock $131.8K $46.67K $40.83K
YoY Change 225.19% 14.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.661M -$21.95M $40.95M
YoY Change
Total Liabilities & Shareholders Equity $22.02M $36.92M $63.73M
YoY Change -43.1% -42.06% 19.11%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$9.766M -$32.45M -$1.553M
YoY Change -58.56% 1990.01% -4.86%
Depreciation, Depletion And Amortization $210.3K $210.3K $210.4K
YoY Change -0.03% -0.03%
Cash From Operating Activities -$1.214M -$1.153M -$2.210M
YoY Change -23.46% -47.84% 65.27%
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 887.5K 1.423M 1.348M
YoY Change -2.98% 5.56% -0.32%
NET CHANGE
Cash From Operating Activities -1.214M -1.153M -2.210M
Cash From Investing Activities
Cash From Financing Activities 887.5K 1.423M 1.348M
Net Change In Cash -326.5K 269.7K -862.7K
YoY Change -51.37% -131.26% -6025.27%
FREE CASH FLOW
Cash From Operating Activities -$1.214M -$1.153M -$2.210M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_849_eus-gaap--UseOfEstimates_zF7lMHgXoSw7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zqDiFIDiDan2">Use of Estimates</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make use of certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reported periods. The Company bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Significant estimates are related to the recoverability of long-term assets including intangible assets and goodwill, amortization expense, valuation of warrants, stock-based compensation, derivative liabilities and contingent liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3925943 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.33
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y21D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3925943 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y3M21D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3582886 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.28
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7D
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
295750 usd
MRZM Share Based Compensation Arrangements By Share Based Payment Award Non Options Derivative Liabilities Extinguished
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsDerivativeLiabilitiesExtinguished
0.10
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
86132 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
457860 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
271517 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1664191 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
216000 usd
CY2022Q3 us-gaap Salaries And Wages
SalariesAndWages
30000 usd
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
250000 shares
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.50
CY2019Q3 MRZM Royalties Percentage
RoyaltiesPercentage
0.10 pure

Files In Submission

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mrzm-20230930_def.xml Edgar Link unprocessable
0001493152-23-041163-index-headers.html Edgar Link pending
0001493152-23-041163-index.html Edgar Link pending
0001493152-23-041163.txt Edgar Link pending
0001493152-23-041163-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
form10-q_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
mrzm-20230930.xsd Edgar Link pending
R1.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
mrzm-20230930_cal.xml Edgar Link unprocessable
mrzm-20230930_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
mrzm-20230930_lab.xml Edgar Link unprocessable
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