2023 Q4 Form 10-Q Financial Statement

#000149315223040488 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $1.382M $974.9K $278.1K
YoY Change 396.78% 314.28% -90.88%
Cost Of Revenue $886.8K $580.0K $79.19K
YoY Change 1019.78% 431.54% 67.46%
Gross Profit $495.0K $390.0K $199.0K
YoY Change 148.81% 209.02% -93.37%
Gross Profit Margin 35.82% 40.0% 71.53%
Selling, General & Admin $1.856M $1.257M $2.843M
YoY Change -34.73% -49.24% 16.84%
% of Gross Profit 374.94% 322.32% 1429.21%
Research & Development $5.910K $2.668K $73.84K
YoY Change -92.0% -98.48% 15.81%
% of Gross Profit 1.19% 0.68% 37.11%
Depreciation & Amortization $140.9K $20.50K $19.94K
YoY Change 606.57% 77.89% 388.73%
% of Gross Profit 28.46% 5.26% 10.02%
Operating Expenses $2.003M $1.861M $2.917M
YoY Change -31.32% -29.81% 16.81%
Operating Profit -$1.508M -$886.3K -$2.718M
YoY Change -44.51% -64.91% -639.82%
Interest Expense -$210.2K $352.1K -$46.66K
YoY Change 350.49% 19893.47% -88.39%
% of Operating Profit
Other Income/Expense, Net -$360.3K
YoY Change 1388.39%
Pretax Income -$1.972M -$1.247M -$2.765M
YoY Change -28.69% -51.11% -2816.6%
Income Tax $23.04K $1.886K $2.070K
% Of Pretax Income
Net Earnings -$1.995M -$1.248M -$2.767M
YoY Change -27.91% -51.03% 1855.09%
Net Earnings / Revenue -144.37% -128.06% -994.84%
Basic Earnings Per Share -$0.70
Diluted Earnings Per Share -$1.27 -$0.70 -$0.23
COMMON SHARES
Basic Shares Outstanding 2.475M shares 2.450M shares 12.17M shares
Diluted Shares Outstanding 1.777M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $232.4K $1.060M $90.14K
YoY Change 157.84% 271.02% -98.41%
Cash & Equivalents $232.4K $1.056M $90.14K
Short-Term Investments
Other Short-Term Assets $622.3K $370.0K $190.2K
YoY Change 227.18% 21.25% -32.73%
Inventory $264.5K $254.2K $263.6K
Prepaid Expenses
Receivables $140.6K $116.8K $77.15K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.260M $1.792M $621.1K
YoY Change 102.83% 90.15% -90.15%
LONG-TERM ASSETS
Property, Plant & Equipment $6.567M $772.4K $436.7K
YoY Change 1403.76% 69.27% -12.9%
Goodwill $5.879M $8.225M
YoY Change
Intangibles $4.093M $1.750M $0.00
YoY Change 1218.97% -100.0%
Long-Term Investments $3.088M $1.080M $1.238M
YoY Change 149.48% -15.71% -16.92%
Other Assets
YoY Change
Total Long-Term Assets $19.63M $17.68M $3.483M
YoY Change 463.6% 373.35% -16.29%
TOTAL ASSETS
Total Short-Term Assets $1.260M $1.792M $621.1K
Total Long-Term Assets $19.63M $17.68M $3.483M
Total Assets $20.89M $19.48M $4.104M
YoY Change 409.0% 316.31% -60.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.330M $1.850M $1.349M
YoY Change 72.74% 168.29% 204.24%
Accrued Expenses $1.120M $980.0K $1.178M
YoY Change -4.93% 12.28% 46.56%
Deferred Revenue
YoY Change
Short-Term Debt $880.0K $880.0K $662.6K
YoY Change 32.8%
Long-Term Debt Due $629.9K $820.0K $100.0K
YoY Change 529.92%
Total Short-Term Liabilities $8.219M $4.884M $3.409M
YoY Change 141.06% 194.05% 172.1%
LONG-TERM LIABILITIES
Long-Term Debt $1.254M $1.100M $0.00
YoY Change
Other Long-Term Liabilities $10.52M $13.12M $1.670M
YoY Change 530.08% 658.86% -12.18%
Total Long-Term Liabilities $11.78M $14.22M $1.670M
YoY Change 605.18% 722.48% -12.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.219M $4.884M $3.409M
Total Long-Term Liabilities $11.78M $14.22M $1.670M
Total Liabilities $19.99M $19.10M $5.081M
YoY Change 293.5% 463.35% 61.02%
SHAREHOLDERS EQUITY
Retained Earnings -$57.80M -$55.80M -$49.80M
YoY Change 16.06% 18.72% 28.05%
Common Stock $52.71M $56.20M $48.81M
YoY Change 8.0% 16.34% 4090924.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $892.8K $372.8K -$977.6K
YoY Change
Total Liabilities & Shareholders Equity $20.89M $19.48M $4.104M
YoY Change 409.0% 316.31% -60.79%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$1.995M -$1.248M -$2.767M
YoY Change -27.91% -51.03% 1855.09%
Depreciation, Depletion And Amortization $140.9K $20.50K $19.94K
YoY Change 606.57% 77.89% 388.73%
Cash From Operating Activities -$715.0K -$1.250M -$1.004M
YoY Change -28.79% -24.16% -33.55%
INVESTING ACTIVITIES
Capital Expenditures $74.72K $110.0K -$130.00
YoY Change -57576.92% -3766.67% -100.04%
Acquisitions
YoY Change
Other Investing Activities $109.8K -$2.150M $8.450K
YoY Change 1199.88% -100.68%
Cash From Investing Activities $35.12K -$2.260M $8.580K
YoY Change 309.32% 74983.06% -100.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -137.8K 4.440M 800.0K
YoY Change -117.22% -17719.05% -76.48%
NET CHANGE
Cash From Operating Activities -715.0K -1.250M -1.004M
Cash From Investing Activities 35.12K -2.260M 8.580K
Cash From Financing Activities -137.8K 4.440M 800.0K
Net Change In Cash -817.7K 930.0K -195.6K
YoY Change 318.12% -155.47% -120.13%
FREE CASH FLOW
Cash From Operating Activities -$715.0K -$1.250M -$1.004M
Capital Expenditures $74.72K $110.0K -$130.00
Free Cash Flow -$789.8K -$1.360M -$1.004M
YoY Change -21.34% -17.34% -45.41%

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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8124676 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1886 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4751 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-1248440 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2549623 usd
us-gaap Net Income Loss
NetIncomeLoss
-6039830 usd
us-gaap Net Income Loss
NetIncomeLoss
-8125476 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.76
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-13.42
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.76
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-13.42
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1776898 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
607783 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1048115 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
605356 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1776898 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
607783 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1048115 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
605356 shares
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3356425 usd
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
79479 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-25200 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
426143 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2549623 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1287224 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1705494 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1705494 usd
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2670 usd
CY2023Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
11249 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2996061 usd
CY2023Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
65198 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
251555 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-1248440 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
372799 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
372799 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7310680 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
408027 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
116766 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
289800 usd
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1287427 usd
us-gaap Net Income Loss
NetIncomeLoss
-8125476 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1287224 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-977612 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
54235 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
255424 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5725000 usd
INVO Stock Issued During Period Value Common Stock Issued With Notes Payable
StockIssuedDuringPeriodValueCommonStockIssuedWithNotesPayable
56314 usd
INVO Stock Issued During Period Value Common Stock Issued For Liability Settlement
StockIssuedDuringPeriodValueCommonStockIssuedForLiabilitySettlement
65198 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2375 usd
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
904305 usd
INVO Adjustments To Additional Paid In Capital Warrants Issued With Notes Payable
AdjustmentsToAdditionalPaidInCapitalWarrantsIssuedWithNotesPayable
327390 usd
us-gaap Net Income Loss
NetIncomeLoss
-6039830 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
372799 usd
us-gaap Profit Loss
ProfitLoss
-6039830 usd
us-gaap Profit Loss
ProfitLoss
-8125476 usd
INVO Noncash Stock Compensation Issued For Services
NoncashStockCompensationIssuedForServices
255424 usd
INVO Noncash Stock Compensation Issued For Services
NoncashStockCompensationIssuedForServices
116766 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
54235 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
408027 usd
us-gaap Share Based Compensation
ShareBasedCompensation
904305 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1287427 usd
INVO Noncash Compensation For Services
NoncashCompensationForServices
135000 usd
INVO Noncash Compensation For Services
NoncashCompensationForServices
75000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
612259 usd
INVO Loss From Equity Method Investments
LossFromEquityMethodInvestments
32110 usd
INVO Loss From Equity Method Investments
LossFromEquityMethodInvestments
210565 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
59296 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
57361 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
39632 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20841 usd
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
-9382 usd
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
-7642 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
175026 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
22400 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
567944 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
246136 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-355664 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
61919 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
110045 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
92759 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-226568 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
56549 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
5941 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4040171 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5599174 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
369722 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10920 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1943 usd
INVO Investment In Joint Ventures
InvestmentInJointVentures
8447 usd
INVO Investment In Joint Ventures
InvestmentInJointVentures
76937 usd
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
2150000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2528169 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89800 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
3060250 usd
INVO Proceeds From Sale Of Notes Payable Related Parties
ProceedsFromSaleOfNotesPayableRelatedParties
100000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5725000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
289800 usd
INVO Proceeds From Option Exercises
ProceedsFromOptionExercises
2375 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1353876 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7533749 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
289800 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
965409 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5399174 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90135 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5684871 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1055544 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
285697 usd
us-gaap Interest Paid Net
InterestPaidNet
9640 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
800 usd
INVO Fair Value Of Warrants Issued With Debt
FairValueOfWarrantsIssuedWithDebt
383704 usd
INVO Fair Value Of Shares Issued For Settlement Of Liability
FairValueOfSharesIssuedForSettlementOfLiability
65198 usd
INVO Initial Rou Asset And Lease Liability
InitialRouAssetAndLeaseLiability
4269881 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zCWKZG0l2vAj" 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><i><span id="xdx_86E_zVBnk1kkjuFi">Use of Estimates</span></i></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">In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates.</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>
us-gaap Net Income Loss
NetIncomeLoss
-6039830 usd
us-gaap Net Income Loss
NetIncomeLoss
-8125476 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1776898 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1776898 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
607783 shares
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
607783 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1048115 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1048115 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
605356 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
605356 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_z9KxjTNtUata" 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><i><span id="xdx_86E_zODdVObLdxuk">Concentration of Credit Risk</span></i></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">Cash includes amounts deposited in financial institutions in excess of insurable Federal Deposit Insurance Corporation (“FDIC”) limits. As of September 30, 2023, the Company had cash balances in excess of FDIC limits.</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>
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-1248440 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2549623 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1776898 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
607783 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1048115 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
605356 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.19
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.76
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.76
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-13.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-13.42
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.19
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.76
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.76
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-13.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-13.42
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3646665 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
86988 shares
us-gaap Net Income Loss
NetIncomeLoss
-6000000.0 usd
us-gaap Net Income Loss
NetIncomeLoss
-8100000 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-55800000 usd
INVO Net Income Loss Related To Non Cash Expenses
NetIncomeLossRelatedToNonCashExpenses
2100000 usd
INVO Net Income Loss Related To Non Cash Expenses
NetIncomeLossRelatedToNonCashExpenses
2300000 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
5800000 usd
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
3200000 usd
CY2023Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1492520 usd
CY2022Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1533957 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
4846417 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
4793450 usd
CY2023Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-998380 usd
CY2022Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-2057245 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-5128430 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-9571686 usd
CY2021Q2 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
1.50 pure
INVO Investment In Unconsolidated Variable Interest Entities
InvestmentInUnconsolidatedVariableInterestEntities
1079202 usd
CY2022 INVO Investment In Unconsolidated Variable Interest Entities
InvestmentInUnconsolidatedVariableInterestEntities
1237865 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
68723 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
191780 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
194879 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
254220 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
263602 usd
CY2023Q3 INVO Earning From Unconsolidated Variable Interest Entities
EarningFromUnconsolidatedVariableInterestEntities
-8163 usd
CY2022Q3 INVO Earning From Unconsolidated Variable Interest Entities
EarningFromUnconsolidatedVariableInterestEntities
-21470 usd
INVO Earning From Unconsolidated Variable Interest Entities
EarningFromUnconsolidatedVariableInterestEntities
-32110 usd
INVO Earning From Unconsolidated Variable Interest Entities
EarningFromUnconsolidatedVariableInterestEntities
-210565 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
62440 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
212563 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
153267 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
772447 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
436729 usd
CY2023Q3 us-gaap Depreciation
Depreciation
20504 usd
CY2022Q3 us-gaap Depreciation
Depreciation
19279 usd
us-gaap Depreciation
Depreciation
59296 usd
us-gaap Depreciation
Depreciation
56004 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
453 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1357 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5858042 usd
CY2023Q3 INVO Right Of Use Assets
RightOfUseAssets
5858042 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
385836 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5622279 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6008115 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
144953 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
616158 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
622676 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
638469 usd
CY2023Q3 INVO Lessee Operating Lease Liability Payments Due After Year Three
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree
5943918 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7966174 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1958059 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6008115 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
372800 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
107356 usd
CY2023Q3 INVO Financing Fee Related Party Demand Notes Percentage
FinancingFeeRelatedPartyDemandNotesPercentage
0.10 pure
CY2023Q3 INVO Annual Interest Related Party Demand Notes Percentage
AnnualInterestRelatedPartyDemandNotesPercentage
0.10 pure
CY2023Q3 INVO Annual Interest Related Party Demand Notes Percentage
AnnualInterestRelatedPartyDemandNotesPercentage
0.10 pure
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
372800 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
107356 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
2797574 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
762644 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
17500 shares
CY2022Q4 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
200000 usd
CY2022Q4 us-gaap Debt Instrument Description
DebtInstrumentDescription
These notes accrue 10% annual interest accrues from the date of issuance. These notes are callable with 10 days prior written notice. At maturity, the Company agreed to pay outstanding principal, a 10% financing fee and accrued interest.
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
410000 usd
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
410000 usd
CY2022Q4 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
310000 usd
CY2023Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
12.00
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
19375 shares
CY2023Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.10 pure
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-12-31
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.08 pure
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.08 pure
CY2023Q1 us-gaap Share Price
SharePrice
10.40
CY2023Q1 us-gaap Share Price
SharePrice
10.40
CY2023Q1 INVO Percentage Of Debentures Outstanding
PercentageOfDebenturesOutstanding
0.50 pure
CY2023Q1 us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
(i) in a minimum amount of not less than $25,000 and (ii) in a maximum amount of up to the lesser of (a) $750,000 or (b) 200% of the Company’s average daily trading value of the Common Stock.
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2375 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
64850 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
68.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
59048 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.74
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
297 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10973 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
70.68
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
112628 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
41.90
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
82661 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
58.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.036 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0369 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.016 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.019 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.066 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.149 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.104 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.132 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1616401 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
896257 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
25884 shares
CY2022Q4 INVO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price Warrants
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePriceWarrants
30.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
3643526 shares
INVO Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice
3.63
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
180790 shares
INVO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Weighted Average Exercise Price Of Warrants Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOfWarrantsExercised
1.16
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3488620 shares
CY2023Q3 INVO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price Warrants
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePriceWarrants
3.95
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1886 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4751 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure

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