2024 Q2 Form 10-Q Financial Statement

#000109690624001819 Filed on August 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $11.72K $25.43K
YoY Change -53.92% -10.1%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $70.78K $45.06K
YoY Change 57.09% 7.79%
Operating Profit -$70.78K -$45.06K
YoY Change 57.09% 7.79%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$70.78K -$45.06K
YoY Change 57.09% 7.79%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$70.78K -$45.06K
YoY Change 57.09% 7.79%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 75.29M shares 75.29M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.39K $23.41K
YoY Change -42.8% -19.39%
Cash & Equivalents $13.39K $23.41K
Short-Term Investments
Other Short-Term Assets $6.440K $5.930K
YoY Change 8.6% -16.83%
Inventory
Prepaid Expenses $6.438K $5.925K
Receivables
Other Receivables
Total Short-Term Assets $19.83K $29.33K
YoY Change -32.4% -18.91%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.00 $200.00
YoY Change 0.0% 0.0%
Total Long-Term Assets $195.00 $195.00
YoY Change 0.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $19.83K $29.33K
Total Long-Term Assets $195.00 $195.00
Total Assets $20.03K $29.53K
YoY Change -32.18% -18.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $381.0K $290.6K
YoY Change 31.11% 32.8%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.474M $1.287M
YoY Change 14.52% 12.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.474M $1.287M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.474M $1.287M
YoY Change 14.52% 12.55%
SHAREHOLDERS EQUITY
Retained Earnings -$12.94M -$12.75M
YoY Change 1.54% 1.33%
Common Stock $75.29K $75.29K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.454M -$1.257M
YoY Change
Total Liabilities & Shareholders Equity $20.03K $29.53K
YoY Change -32.18% -18.8%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$70.78K -$45.06K
YoY Change 57.09% 7.79%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$28.41K -$31.46K
YoY Change -9.69% 81.95%
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 39.98K 35.50K
YoY Change 12.62% 343.75%
NET CHANGE
Cash From Operating Activities -28.41K -31.46K
Cash From Investing Activities
Cash From Financing Activities 39.98K 35.50K
Net Change In Cash 11.57K 4.040K
YoY Change 186.39% -143.49%
FREE CASH FLOW
Cash From Operating Activities -$28.41K -$31.46K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Use of Estimates</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. We considered the potential impact of the COVID-19 pandemic on our estimates and assumptions and there was not a material impact to our unaudited consolidated financial statements as of and for the six months ended June 30, 2024; however, actual results could differ from those estimates and there may be changes to our estimates in future periods.</p>
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