2024 Q2 Form 10-Q Financial Statement
#000149315224019910 Filed on May 15, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
Revenue | $1.979M | $2.984M | $720.0K |
YoY Change | 53.41% | 314.44% | 80.0% |
Cost Of Revenue | $995.0K | $1.788M | $1.147M |
YoY Change | 29.05% | 55.88% | 358.8% |
Gross Profit | $984.0K | $1.196M | -$427.0K |
YoY Change | 89.6% | -380.09% | -1223.68% |
Gross Profit Margin | 49.72% | 40.08% | -59.31% |
Selling, General & Admin | $1.730M | $2.135M | $1.723M |
YoY Change | -6.28% | 23.91% | -6.66% |
% of Gross Profit | 175.81% | 178.51% | |
Research & Development | $131.0K | $132.0K | $342.0K |
YoY Change | -42.29% | -61.4% | -16.99% |
% of Gross Profit | 13.31% | 11.04% | |
Depreciation & Amortization | $8.000K | $8.000K | $27.00K |
YoY Change | -88.57% | -70.37% | -25.0% |
% of Gross Profit | 0.81% | 0.67% | |
Operating Expenses | $1.861M | $2.267M | $2.065M |
YoY Change | -10.23% | 9.78% | -8.55% |
Operating Profit | -$877.0K | -$1.071M | -$2.492M |
YoY Change | -43.56% | -57.02% | 18.38% |
Interest Expense | -$87.00K | $55.00K | -$180.0K |
YoY Change | -317.5% | -130.56% | 125.0% |
% of Operating Profit | |||
Other Income/Expense, Net | -$87.00K | $55.00K | -$146.0K |
YoY Change | -289.13% | -137.67% | 75.9% |
Pretax Income | -$964.0K | -$1.016M | -$2.672M |
YoY Change | -36.29% | -61.98% | 22.12% |
Income Tax | -$18.00K | ||
% Of Pretax Income | |||
Net Earnings | -$964.0K | -$1.016M | -$2.654M |
YoY Change | -25.33% | -61.72% | 21.3% |
Net Earnings / Revenue | -48.71% | -34.05% | -368.61% |
Basic Earnings Per Share | -$1.28 | -$1.88 | -$1.68 |
Diluted Earnings Per Share | -$1.28 | -$1.88 | -$1.68 |
COMMON SHARES | |||
Basic Shares Outstanding | 641.5K shares | 5.092M shares | 2.447M shares |
Diluted Shares Outstanding | 755.6K shares | 539.0K shares | 197.8K shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.201M | $1.136M | $2.420M |
YoY Change | 183.27% | -53.06% | -69.13% |
Cash & Equivalents | $3.201M | $1.136M | $2.415M |
Short-Term Investments | |||
Other Short-Term Assets | $74.00K | $75.00K | $260.0K |
YoY Change | -38.33% | -71.15% | -3.7% |
Inventory | $1.793M | $2.136M | $491.0K |
Prepaid Expenses | |||
Receivables | $329.0K | $406.0K | $1.008M |
Other Receivables | $807.0K | $1.001M | $780.0K |
Total Short-Term Assets | $6.204M | $4.754M | $4.953M |
YoY Change | 55.41% | -4.02% | -53.01% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $107.0K | $113.0K | $107.0K |
YoY Change | -17.69% | 5.61% | -89.19% |
Goodwill | $733.0K | $741.0K | $1.412M |
YoY Change | -47.75% | -47.52% | |
Intangibles | $919.0K | $996.0K | $1.313M |
YoY Change | -25.16% | -24.14% | |
Long-Term Investments | $10.00K | $11.00K | $100.0K |
YoY Change | -87.5% | -89.0% | 11.11% |
Other Assets | $7.000K | $7.000K | $30.00K |
YoY Change | -76.67% | -76.67% | 0.0% |
Total Long-Term Assets | $1.808M | $1.916M | $3.515M |
YoY Change | -45.25% | -45.49% | 102.01% |
TOTAL ASSETS | |||
Total Short-Term Assets | $6.204M | $4.754M | $4.953M |
Total Long-Term Assets | $1.808M | $1.916M | $3.515M |
Total Assets | $8.012M | $6.670M | $8.468M |
YoY Change | 9.84% | -21.23% | -31.04% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $896.0K | $1.114M | $1.770M |
YoY Change | -41.44% | -37.06% | -3.8% |
Accrued Expenses | $17.00K | $53.00K | $160.0K |
YoY Change | -88.67% | -66.88% | -11.11% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $423.0K | $582.0K | $158.0K |
YoY Change | 178.29% | 268.35% | -31.3% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.109M | $2.699M | $2.851M |
YoY Change | -32.12% | -5.33% | 26.71% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $193.0K | $218.0K | $342.0K |
YoY Change | -36.93% | -36.26% | 144.29% |
Other Long-Term Liabilities | $15.00K | $0.00 | $300.0K |
YoY Change | -92.5% | -100.0% | -41.18% |
Total Long-Term Liabilities | $208.0K | $218.0K | $955.0K |
YoY Change | -72.41% | -77.17% | 46.92% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.109M | $2.699M | $2.851M |
Total Long-Term Liabilities | $208.0K | $218.0K | $955.0K |
Total Liabilities | $2.317M | $2.917M | $3.806M |
YoY Change | -39.99% | -23.36% | 27.72% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$61.86M | -$60.90M | -$56.16M |
YoY Change | 7.69% | 8.44% | |
Common Stock | $1.000K | $1.000K | $2.000K |
YoY Change | -50.0% | -50.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $5.695M | $3.753M | $4.662M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $8.012M | $6.670M | $8.468M |
YoY Change | 9.84% | -21.23% | -31.04% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$964.0K | -$1.016M | -$2.654M |
YoY Change | -25.33% | -61.72% | 21.3% |
Depreciation, Depletion And Amortization | $8.000K | $8.000K | $27.00K |
YoY Change | -88.57% | -70.37% | -25.0% |
Cash From Operating Activities | -$659.0K | -$1.417M | -$2.313M |
YoY Change | -50.45% | -38.74% | -10.31% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $60.00K | $0.00 |
YoY Change | -100.0% | ||
Cash From Investing Activities | $0.00 | $60.00K | |
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 | 2.554M | $407.0K | $2.634M |
YoY Change | -8613.33% | -84.55% | 37528.57% |
NET CHANGE | |||
Cash From Operating Activities | -659.0K | -$1.417M | -$2.313M |
Cash From Investing Activities | 0.000 | $60.00K | |
Cash From Financing Activities | 2.554M | $407.0K | $2.634M |
Net Change In Cash | 1.895M | -$1.053M | $313.0K |
YoY Change | -239.34% | -436.42% | -111.06% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$659.0K | -$1.417M | -$2.313M |
Capital Expenditures | |||
Free Cash Flow | -$2.313M | ||
YoY Change | -11.04% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
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CY2024Q1 | us-gaap |
Cost Of Revenue
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|
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Weighted Average Number Of Shares Outstanding Basic
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|
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Weighted Average Number Of Diluted Shares Outstanding
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Inventory Write Down
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Stockholders Equity Reverse Stock Split
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|
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StockholdersEquity
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Depreciation
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CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
74000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-525000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-23000 | usd |
CY2024Q1 | us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
8000 | usd |
CY2023Q1 | us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
6000 | usd |
CY2024Q1 | us-gaap |
Interest Paid
InterestPaid
|
5000 | usd |
CY2023Q1 | us-gaap |
Interest Paid
InterestPaid
|
6000 | usd |
CY2024Q1 | MYSZ |
Revaluation Of Investment In Marketable Securities
RevaluationOfInvestmentInMarketableSecurities
|
5000 | usd |
CY2023Q1 | MYSZ |
Revaluation Of Investment In Marketable Securities
RevaluationOfInvestmentInMarketableSecurities
|
-14000 | usd |
CY2023Q1 | MYSZ |
Increase Decrease In Investment In Joint Venture
IncreaseDecreaseInInvestmentInJointVenture
|
34000 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
138000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
136000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-742000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-481000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
-18000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-209000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-903000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-47000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-37000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
150000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
30000 | usd |
CY2024Q1 | MYSZ |
Increase Decrease In Trade Payable
IncreaseDecreaseInTradePayable
|
-1014000 | usd |
CY2023Q1 | MYSZ |
Increase Decrease In Trade Payable
IncreaseDecreaseInTradePayable
|
-1403000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
66000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
152000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1417000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2313000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
38000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Hedge Investing Activities
ProceedsFromHedgeInvestingActivities
|
22000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
60000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2659000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
500000 | usd |
CY2024Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
93000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
25000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
407000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2634000 | usd |
CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-103000 | usd |
CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-8000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1053000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
313000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2264000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2363000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1211000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2676000 | usd |
CY2024Q1 | MYSZ |
Change In Operating Lease Rightofuse Asset And Liability
ChangeInOperatingLeaseRightofuseAssetAndLiability
|
181000 | usd |
CY2024Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
1051000 | usd |
CY2024Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
2000 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-60897000 | usd |
CY2024Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
671000 | usd |
CY2024Q1 | us-gaap |
Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
|
5000 | usd |
CY2023Q1 | us-gaap |
Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
|
-14000 | usd |
CY2024Q1 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
141000 | usd |
CY2023Q1 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
136000 | usd |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
(i) 5,000 shares of restricted common stock of the Company, (ii) a warrant to purchase 12,500 shares of common stock at an exercise price of $4.00 per share and exercisable for a term of 36 months from the date of issuance, and (iii) a warrant to purchase 12,500 shares of common stock at an exercise price of $6.00 per share and exercisable for a term of 36 months from the date of issuance. | |
CY2024Q1 | us-gaap |
Goodwill
Goodwill
|
741000 | usd |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
1412000 | usd |
CY2024Q1 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
1897000 | usd |
CY2023Q1 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
3454000 | usd |
CY2023Q4 | us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
The Notification Letter provided that the Company had 180 calendar days, or until May 1, 2024, to regain compliance with the Rule. To regain compliance, the bid price of the Company’s common stock must have had a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. On May 7, 2024, the Company received a letter from Nasdaq that, for the 10 consecutive business days from April 23, 2024 to May 6, 2024, the closing bid price of the Company’s common stock had been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price deficiency matter now closed. | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |