2024 Q1 Form 10-K Financial Statement

#000165495424003873 Filed on March 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.739M $878.4K $5.517M
YoY Change 12.34% -46.76% -16.45%
% of Gross Profit
Research & Development $1.042M $579.4K $5.004M
YoY Change -25.14% -65.17% -23.66%
% of Gross Profit
Depreciation & Amortization $15.30K $23.73K $123.7K
YoY Change -55.67% -26.14% 28.0%
% of Gross Profit
Operating Expenses $2.781M $1.458M $10.52M
YoY Change -5.4% -56.0% -20.04%
Operating Profit -$2.781M -$10.52M
YoY Change -5.4% -20.04%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $4.841K -$1.760K $460.5K
YoY Change -241.63% -107.4% -2238.53%
Pretax Income -$2.776M -$1.460M -$10.06M
YoY Change -5.68% -55.63% -23.67%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.776M -$1.460M -$10.06M
YoY Change -5.68% -55.63% -23.67%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.26 -$0.17 -$1.58
COMMON SHARES
Basic Shares Outstanding 11.04M shares 8.455M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.135M $2.834M $2.834M
YoY Change -51.82% -42.04% -42.04%
Cash & Equivalents $1.135M $2.834M
Short-Term Investments
Other Short-Term Assets $135.8K $198.9K $198.9K
YoY Change -68.31% -79.97% -79.97%
Inventory $2.712M $2.623M
Prepaid Expenses $135.8K $198.9K
Receivables
Other Receivables
Total Short-Term Assets $1.271M $3.033M $3.033M
YoY Change -76.98% -64.43% -64.43%
LONG-TERM ASSETS
Property, Plant & Equipment $111.5K $465.9K $465.9K
YoY Change -51.14% 97.69% -37.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.365M $3.255M $3.255M
YoY Change 667.68% 54284.56% 54248.25%
Total Long-Term Assets $3.790M $3.721M $3.721M
YoY Change 233.71% 397.87% 397.86%
TOTAL ASSETS
Total Short-Term Assets $1.271M $3.033M $3.033M
Total Long-Term Assets $3.790M $3.721M $3.721M
Total Assets $5.061M $6.754M $6.754M
YoY Change -23.96% -27.17% -27.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $521.6K $360.4K $360.4K
YoY Change -0.47% -41.3% -41.3%
Accrued Expenses $695.1K $514.2K $514.2K
YoY Change -45.66% -51.55% -51.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $28.48K $28.48K
YoY Change -100.0% 0.0% 0.0%
Total Short-Term Liabilities $1.217M $903.1K $903.1K
YoY Change -33.58% -46.99% -46.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $145.8K $192.1K $192.1K
YoY Change -55.0% -47.51% -47.51%
Total Long-Term Liabilities $145.8K $192.1K $192.1K
YoY Change -55.0% -47.51% -47.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.217M $903.1K $903.1K
Total Long-Term Liabilities $145.8K $192.1K $192.1K
Total Liabilities $1.363M $1.095M $1.095M
YoY Change -36.8% -47.08% -47.08%
SHAREHOLDERS EQUITY
Retained Earnings -$94.71M -$91.93M
YoY Change 11.66% 12.29%
Common Stock $1.092K $1.039K
YoY Change 244.48% 227.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.698M $5.659M $5.659M
YoY Change
Total Liabilities & Shareholders Equity $5.061M $6.754M $6.754M
YoY Change -23.96% -27.17% -27.17%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.776M -$1.460M -$10.06M
YoY Change -5.68% -55.63% -23.67%
Depreciation, Depletion And Amortization $15.30K $23.73K $123.7K
YoY Change -55.67% -26.14% 28.0%
Cash From Operating Activities -$2.144M -$2.179M -$9.549M
YoY Change -14.46% -29.46% -25.22%
INVESTING ACTIVITIES
Capital Expenditures $27.00K $3.880K $33.88K
YoY Change 0.0% -89.94% -83.28%
Acquisitions
YoY Change
Other Investing Activities $3.200K $9.160K $9.160K
YoY Change
Cash From Investing Activities -$23.80K $5.280K -$24.72K
YoY Change -11.87% -113.69% -87.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.518M
YoY Change -10.49%
Debt Paid & Issued, Net $28.48K
YoY Change
Cash From Financing Activities $468.9K 1.668M 7.518M
YoY Change -10.49%
NET CHANGE
Cash From Operating Activities -$2.144M -2.179M -9.549M
Cash From Investing Activities -$23.80K 5.280K -24.72K
Cash From Financing Activities $468.9K 1.668M 7.518M
Net Change In Cash -$1.699M -505.2K -2.055M
YoY Change -32.94% -83.85% -55.05%
FREE CASH FLOW
Cash From Operating Activities -$2.144M -$2.179M -$9.549M
Capital Expenditures $27.00K $3.880K $33.88K
Free Cash Flow -$2.171M -$2.183M -$9.583M
YoY Change -14.31% -30.21% -26.13%

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Management makes estimates that affect certain accounts including inventory reserve, deferred income tax assets, accrued expenses, fair value of equity instruments and reserves for any other commitments or contingencies. Any adjustments applied to estimates are recognized in the period in which such adjustments are determined.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 1 - Nature of the Business</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">ENDRA Life Sciences Inc. (“ENDRA” or the “Company”) has developed and is continuing to develop technology for characterizing tissue non-invasively, at the point of patient care, to broaden patient access to the safe diagnosis and treatment of a number of significant medical conditions in circumstances where expensive X-ray computed tomography (“CT”), magnetic resonance imaging (“MRI”) or other technologies are unavailable or impractical.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">ENDRA was incorporated on July 18, 2007 as a Delaware corporation.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain reclassifications have been made to the 2022 consolidated financial statements in order to conform to the current period presentations. These classifications did not impact the net loss for the period ended December 31, 2023.</p>
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R48.htm Edgar Link pending
R5.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable