2024 Q3 Form 10-Q Financial Statement

#000149315224032184 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $184.7K
YoY Change 198.89%
Cost Of Revenue $49.61K
YoY Change 349.78%
Gross Profit $135.1K
YoY Change 166.1%
Gross Profit Margin 73.15%
Selling, General & Admin $1.156M $3.875M
YoY Change -70.18% 26.2%
% of Gross Profit 2867.92%
Research & Development $312.3K $691.4K
YoY Change -54.83% -49.59%
% of Gross Profit 511.66%
Depreciation & Amortization $121.3K $210.3K
YoY Change -42.33% -0.03%
% of Gross Profit 155.62%
Operating Expenses $1.589M $4.939M
YoY Change -67.82% 5.91%
Operating Profit -$1.589M -$4.804M
YoY Change -66.92% 4.39%
Interest Expense -$3.438M -$13.42M
YoY Change -74.39% 2431.76%
% of Operating Profit
Other Income/Expense, Net -$2.483M -$15.77M
YoY Change -84.26% 579.19%
Pretax Income -$4.073M -$20.58M
YoY Change -80.21% 197.18%
Income Tax
% Of Pretax Income
Net Earnings -$4.073M -$20.58M
YoY Change -80.21% 197.18%
Net Earnings / Revenue -11138.09%
Basic Earnings Per Share -$0.03 -$0.48
Diluted Earnings Per Share -$0.03 -$0.48
COMMON SHARES
Basic Shares Outstanding 131.8M shares 131.8M shares 43.42M shares
Diluted Shares Outstanding 131.8M shares 43.19M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.220K $205.2K
YoY Change -97.46% -89.96%
Cash & Equivalents $5.222K $205.2K
Short-Term Investments
Other Short-Term Assets $854.2K $606.4K
YoY Change 40.87% 157.6%
Inventory $26.87K $139.7K
Prepaid Expenses $854.1K $606.3K
Receivables $72.98K
Other Receivables $35.85K $34.30K
Total Short-Term Assets $922.1K $1.059M
YoY Change -12.89% -59.51%
LONG-TERM ASSETS
Property, Plant & Equipment $12.50K
YoY Change -1.43%
Goodwill $5.416M $7.191M
YoY Change -24.68% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $150.5K $170.8K
YoY Change -11.91% -53.71%
Total Long-Term Assets $20.61M $35.92M
YoY Change -42.62% -41.76%
TOTAL ASSETS
Total Short-Term Assets $922.1K $1.059M
Total Long-Term Assets $20.61M $35.92M
Total Assets $21.53M $36.98M
YoY Change -41.77% -42.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.269M $2.038M
YoY Change 60.41% 230.29%
Accrued Expenses $439.5K $428.8K
YoY Change 2.5% 2.5%
Deferred Revenue
YoY Change
Short-Term Debt $990.6K $0.00
YoY Change -100.0%
Long-Term Debt Due $18.56M $12.75M
YoY Change 45.6% 5181.86%
Total Short-Term Liabilities $23.55M $20.82M
YoY Change 13.11% 1287.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $307.4K
YoY Change -100.0% -63.53%
Other Long-Term Liabilities $7.363M $8.583M
YoY Change -14.21% -58.35%
Total Long-Term Liabilities $7.363M $8.890M
YoY Change -17.18% -58.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.55M $20.82M
Total Long-Term Liabilities $7.363M $8.890M
Total Liabilities $30.91M $29.71M
YoY Change 4.05% 29.46%
SHAREHOLDERS EQUITY
Retained Earnings -$161.6M -$109.1M
YoY Change 48.13% 79.26%
Common Stock $131.8K $45.37K
YoY Change 190.51% 11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.380M $7.270M
YoY Change
Total Liabilities & Shareholders Equity $21.53M $36.98M
YoY Change -41.77% -42.49%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$4.073M -$20.58M
YoY Change -80.21% 197.18%
Depreciation, Depletion And Amortization $121.3K $210.3K
YoY Change -42.33% -0.03%
Cash From Operating Activities -$732.9K -$1.198M
YoY Change -38.81% -56.31%
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 732.0K 1.073M
YoY Change -31.8% -33.5%
NET CHANGE
Cash From Operating Activities -732.9K -1.198M
Cash From Investing Activities
Cash From Financing Activities 732.0K 1.073M
Net Change In Cash -930.0 -124.6K
YoY Change -99.25% -88.96%
FREE CASH FLOW
Cash From Operating Activities -$732.9K -$1.198M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2024Q2 MRZM Borrowing Costs
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MRZM Borrowing Costs
BorrowingCosts
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CY2023Q2 MRZM Loss On Issuance Of Debt
LossOnIssuanceOfDebt
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MRZM Loss On Issuance Of Debt
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CY2024Q2 us-gaap Nonoperating Income Expense
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CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
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CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Stockholders Equity
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CY2023Q2 us-gaap Stock Issued During Period Value New Issues
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CY2023Q2 MRZM Stock Issued During Period Value Exercise Of Warrants
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CY2023Q2 MRZM Adjustments To Additional Paid In Capital Issuance Of Warrants On Debt Extinguishment
AdjustmentsToAdditionalPaidInCapitalIssuanceOfWarrantsOnDebtExtinguishment
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CY2023Q2 MRZM Adjustments To Additional Paid In Capital Issuance Of Warrants On Promissory Note
AdjustmentsToAdditionalPaidInCapitalIssuanceOfWarrantsOnPromissoryNote
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CY2023Q2 MRZM Stock Issued During Period Warrants Cancelled In Debt Extinguishment
StockIssuedDuringPeriodWarrantsCancelledInDebtExtinguishment
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CY2023Q2 us-gaap Net Income Loss
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CY2023Q4 us-gaap Stockholders Equity
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CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2024Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Stockholders Equity
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CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2024Q2 us-gaap Stockholders Equity
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CY2024Q2 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Gains Losses On Extinguishment Of Debt
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MRZM Loss On Issuance Of Debt
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MRZM Shares Issued As Part Of Confidential Settlement Agreement
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MRZM Shares Issued For Services
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MRZM Warrants Issued As Part Of Promissory Note Agreement
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us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Notes Payable
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us-gaap Repayments Of Notes Payable
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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MRZM Debt Discount Issued In Connection With Warrants Modification
DebtDiscountIssuedInConnectionWithWarrantsModification
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MRZM Derivative Liabilities And Debt Discount Issued In Connection With Convertible Notes
DerivativeLiabilitiesAndDebtDiscountIssuedInConnectionWithConvertibleNotes
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MRZM Warrants And Debt Discount Issued In Connection With Convertible Notes
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MRZM Settlement Of Notes Payable With Convertible Notes
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MRZM Warrants Cancelled In Debt Extinguishment
WarrantsCancelledInDebtExtinguishment
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MRZM Shares Issued On Conversion Of Convertible Notes
SharesIssuedOnConversionOfConvertibleNotes
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CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2024Q2 us-gaap Cash
Cash
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CY2023Q4 us-gaap Cash
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us-gaap Use Of Estimates
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<p id="xdx_840_eus-gaap--UseOfEstimates_zVwDpkrDsmV" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zVpQcaz0Gsn8">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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, and contingent liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
MRZM Midrange Average Estimated Interest Rate
MidrangeAverageEstimatedInterestRate
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us-gaap Liabilities Fair Value Adjustment
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us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001493152-24-032184-index-headers.html Edgar Link pending
0001493152-24-032184-index.html Edgar Link pending
0001493152-24-032184.txt Edgar Link pending
0001493152-24-032184-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-20240630.xsd Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
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R35.htm Edgar Link pending
mrzm-20240630_cal.xml Edgar Link unprocessable
mrzm-20240630_def.xml Edgar Link unprocessable
mrzm-20240630_lab.xml Edgar Link unprocessable
mrzm-20240630_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
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R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
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R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
v318342_ex3-1x1x2x1.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable