2022 Q3 Form 10-Q Financial Statement

#000155837022013500 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.533M $2.237M $1.955M
YoY Change 22.37% 16.88% -10.73%
% of Gross Profit
Research & Development $571.0K $982.0K $920.0K
YoY Change -59.04% -51.19% -19.51%
% of Gross Profit
Depreciation & Amortization $2.000K $5.000K $12.00K
YoY Change -83.33% -58.33% 0.0%
% of Gross Profit
Operating Expenses $571.0K $982.0K $920.0K
YoY Change -59.04% -51.19% -19.51%
Operating Profit -$3.104M -$3.219M -$2.875M
YoY Change -10.39% -18.01% -13.66%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net -$9.000K -$84.00K
YoY Change
Pretax Income -$3.113M -$3.303M -$2.875M
YoY Change -10.05% -15.76% -13.51%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.100M -$3.300M -$2.875M
YoY Change -10.43% -15.38% -13.51%
Net Earnings / Revenue
Basic Earnings Per Share -$3.50 -$0.12 -$0.11
Diluted Earnings Per Share -$3.50 -$0.12 -$0.11
COMMON SHARES
Basic Shares Outstanding 26.66M 26.66M 26.66M
Diluted Shares Outstanding 888.7K 26.66M 26.66M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.356M $8.849M $11.56M
YoY Change -8.99% -6.98% -11.37%
Cash & Equivalents $6.400M $8.800M $11.60M
Short-Term Investments
Other Short-Term Assets $1.198M $1.228M $1.707M
YoY Change 2395.83% 639.76% 98.49%
Inventory
Prepaid Expenses $859.0K $1.228M $1.707M
Receivables
Other Receivables
Total Short-Term Assets $7.554M $10.08M $13.26M
YoY Change -3.7% -3.74% -4.51%
LONG-TERM ASSETS
Property, Plant & Equipment $3.000K $5.000K $98.00K
YoY Change -97.54% -96.27% -63.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.000K $5.000K $197.0K
YoY Change -98.71% -98.01% -27.04%
TOTAL ASSETS
Total Short-Term Assets $7.554M $10.08M $13.26M
Total Long-Term Assets $3.000K $5.000K $197.0K
Total Assets $7.557M $10.08M $13.46M
YoY Change -6.44% -5.94% -4.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.075M $664.0K $776.0K
YoY Change 12.8% 91.35% 65.11%
Accrued Expenses $544.0K $585.0K $693.0K
YoY Change -41.0% -27.87% 44.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.619M $1.249M $1.496M
YoY Change -14.83% 5.58% 59.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $37.00K
YoY Change -100.0% -100.0% -47.14%
Total Long-Term Liabilities $0.00 $0.00 $37.00K
YoY Change -100.0% -100.0% -47.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.619M $1.249M $1.496M
Total Long-Term Liabilities $0.00 $0.00 $37.00K
Total Liabilities $1.619M $1.249M $1.533M
YoY Change -17.06% 0.64% 51.78%
SHAREHOLDERS EQUITY
Retained Earnings -$91.10M -$88.00M -$84.70M
YoY Change 17.93% 19.24%
Common Stock $1.000K $27.00K $27.00K
YoY Change -95.45% 22.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.938M $8.833M $11.93M
YoY Change
Total Liabilities & Shareholders Equity $7.557M $10.08M $13.46M
YoY Change -6.44% -5.94% -4.94%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$3.100M -$3.300M -$2.875M
YoY Change -10.43% -15.38% -13.51%
Depreciation, Depletion And Amortization $2.000K $5.000K $12.00K
YoY Change -83.33% -58.33% 0.0%
Cash From Operating Activities -$2.359M -$2.717M -$4.829M
YoY Change -5.9% -24.28% -21.36%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $8.000K $0.00
YoY Change
Cash From Investing Activities $0.00 $8.000K $0.00
YoY Change -366.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -134.0K 0.000 0.000
YoY Change 458.33% -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -2.359M -2.717M -4.829M
Cash From Investing Activities 0.000 8.000K 0.000
Cash From Financing Activities -134.0K 0.000 0.000
Net Change In Cash -2.493M -2.709M -4.829M
YoY Change -1.5% -22.97% -263.64%
FREE CASH FLOW
Cash From Operating Activities -$2.359M -$2.717M -$4.829M
Capital Expenditures $0.00
Free Cash Flow -$2.359M
YoY Change -5.9%

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses, and related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company's condensed consolidated financial statements relate to accrued expenses and the fair value of stock-based compensation and warrant issuances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgements about the carrying values of assets and liabilities. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</p>
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
110000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-75000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
221000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
111000
CY2022Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-75000
CY2022Q2 nrbo Accrued Other Research And Development Expenses
AccruedOtherResearchAndDevelopmentExpenses
468000
CY2021Q4 nrbo Accrued Other Research And Development Expenses
AccruedOtherResearchAndDevelopmentExpenses
854000
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
376000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
70000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
59000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
585000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1301000
CY2022Q2 nrbo Percentage Of Royalty Payments
PercentageOfRoyaltyPayments
0.025
CY2022Q2 nrbo Royalty Payment Accrued
RoyaltyPaymentAccrued
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.807
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.852
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0172
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0308
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6846633
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6885748
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
974999
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.99
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
180000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.59
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
60000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.04
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1094999
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.32
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1094999
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.32
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
223887
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.95
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y8M12D
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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