$NEOV
NeoVolta Inc.

2023 Q1 Form 10-Q Financial Statement

#000168316823000747 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $629.0K $567.1K $1.035M
YoY Change -32.57% -45.21%
Cost Of Revenue $537.3K $473.2K $861.7K
YoY Change -33.72% -45.09%
Gross Profit $91.75K $93.95K $173.4K
YoY Change -25.0% -45.83%
Gross Profit Margin 14.59% 16.57% 16.75%
Selling, General & Admin $723.3K $1.074M $4.138M
YoY Change 16.62% -74.05%
% of Gross Profit 788.31% 1142.92% 2385.81%
Research & Development $1.290K $7.746K $62.25K
YoY Change -87.56%
% of Gross Profit 1.41% 8.25% 35.9%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $724.6K $1.081M $4.200M
YoY Change 16.82% -74.25%
Operating Profit -$632.8K -$987.5K -$4.026M
YoY Change 27.1% -75.47%
Interest Expense $0.00 $0.00 $3.530K
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 -$3.530K
YoY Change -100.0% -100.0%
Pretax Income -$632.8K -$987.5K -$4.030M
YoY Change 21.76% -75.49%
Income Tax
% Of Pretax Income
Net Earnings -$632.8K -$987.5K -$4.030M
YoY Change 21.76% -75.49%
Net Earnings / Revenue -100.6% -174.14% -389.31%
Basic Earnings Per Share -$0.02 -$0.03 -$0.20
Diluted Earnings Per Share -$0.02 -$0.03 -$0.20
COMMON SHARES
Basic Shares Outstanding 33.15M shares 32.85M shares 20.00M shares
Diluted Shares Outstanding 33.15M shares 32.82M shares 20.00M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.460M $3.423M
YoY Change 340.23%
Cash & Equivalents $3.460M $3.423M $1.018M
Short-Term Investments
Other Short-Term Assets $205.7K $276.5K
YoY Change 24.67%
Inventory $1.362M $1.739M
Prepaid Expenses
Receivables $1.738M $1.811M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.766M $7.249M
YoY Change 69.57%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $6.766M $7.249M
Total Long-Term Assets $0.00 $0.00
Total Assets $6.766M $7.249M
YoY Change 69.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $29.61K
YoY Change -100.0%
Accrued Expenses $87.65K $17.76K
YoY Change 32.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $87.65K $47.37K
YoY Change -92.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.65K $47.37K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $87.65K $47.37K
YoY Change -92.65%
SHAREHOLDERS EQUITY
Retained Earnings -$18.12M -$17.49M
YoY Change
Common Stock $33.16K $32.85K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.678M $7.202M $2.952M
YoY Change
Total Liabilities & Shareholders Equity $6.766M $7.249M
YoY Change 69.57%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$632.8K -$987.5K -$4.030M
YoY Change 21.76% -75.49%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $37.49K -$570.0K -$475.9K
YoY Change -105.3% 19.76%
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 0.000 0.000 1.068M
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities 37.49K -570.0K -475.9K
Cash From Investing Activities
Cash From Financing Activities 0.000 0.000 1.068M
Net Change In Cash 37.49K -570.0K 592.1K
YoY Change -89.6% -196.26%
FREE CASH FLOW
Cash From Operating Activities $37.49K -$570.0K -$475.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Type
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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
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dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_zX0cSlcYIcN3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i><span id="xdx_86E_zHkz2leWR0Ud">Use of Estimates</span></i> – Management has made a number of estimates and assumptions in preparing these financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ from those estimates. As a result of the continued spread of the COVID-19 coronavirus since early 2020, economic uncertainties have arisen which could impact business operations, supply chains, energy demand, and commodity prices that are beyond our control. Overall, we have not experienced a material adverse impact to our economic performance or ability to continue our business operations as a result of COVID-19. We continue to monitor COVID-19, but do not believe it will have a material unfavorable impact to our future financial performance at this time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p>
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0 usd
CY2022Q3 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
59251 usd
CY2022Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
9404867 shares
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.0063
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.00
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1283 usd
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
203630 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1179750 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.02
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y6M
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2022Q4 NEOV Warrants Exercisable Shares
WarrantsExercisableShares
1179750 shares
CY2022Q4 NEOV Warrants Exercisable Weighted Average Exercise Price
WarrantsExercisableWeightedAverageExercisePrice
4.02
CY2022Q4 NEOV Warrants And Rights Outstanding Term Exercisable
WarrantsAndRightsOutstandingTermExercisable
P4Y6M
CY2022Q4 NEOV Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueExercisable
0 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1311111 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4001558 usd

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