$NEOV
NeoVolta Inc.

2023 Q2 Form 10-Q Financial Statement

#000168316823003269 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $720.0K $629.0K $932.9K
YoY Change -20.52% -32.57% -29.2%
Cost Of Revenue $470.0K $537.3K $810.6K
YoY Change -39.21% -33.72% -28.82%
Gross Profit $260.0K $91.75K $122.3K
YoY Change 95.84% -25.0% -31.62%
Gross Profit Margin 36.11% 14.59% 13.11%
Selling, General & Admin $580.0K $723.3K $620.2K
YoY Change -53.21% 16.62% 181.08%
% of Gross Profit 223.08% 788.31% 506.96%
Research & Development $0.00 $1.290K $0.00
YoY Change -100.0% -100.0%
% of Gross Profit 0.0% 1.41% 0.0%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $570.0K $724.6K $620.2K
YoY Change -54.09% 16.82% 151.81%
Operating Profit -$310.0K -$632.8K -$497.9K
YoY Change -72.04% 27.1% 638.91%
Interest Expense $0.00 $0.00 -$21.83K
YoY Change -100.0% -100.0% 300.55%
% of Operating Profit
Other Income/Expense, Net $0.00 -$21.83K
YoY Change -100.0%
Pretax Income -$320.0K -$632.8K -$519.7K
YoY Change -71.61% 21.76% 1102.17%
Income Tax
% Of Pretax Income
Net Earnings -$320.0K -$632.8K -$519.7K
YoY Change -71.61% 21.76% 1102.17%
Net Earnings / Revenue -44.44% -100.6% -55.71%
Basic Earnings Per Share -$0.02 -$0.03
Diluted Earnings Per Share -$0.01 -$0.02 -$15.93K
COMMON SHARES
Basic Shares Outstanding 33.16M shares 33.15M shares 20.29M shares
Diluted Shares Outstanding 33.15M shares 20.29M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.000M $3.460M $786.0K
YoY Change 505.35% 340.23%
Cash & Equivalents $2.003M $3.460M $786.0K
Short-Term Investments
Other Short-Term Assets $100.0K $205.7K $165.0K
YoY Change -58.16% 24.67%
Inventory $2.581M $1.362M $1.678M
Prepaid Expenses
Receivables $1.826M $1.738M $1.361M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.506M $6.766M $3.990M
YoY Change 57.71% 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 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $6.506M $6.766M $3.990M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $6.506M $6.766M $3.990M
YoY Change 57.71% 69.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $0.00 $4.170K
YoY Change -100.0% -100.0%
Accrued Expenses $40.00K $87.65K $66.25K
YoY Change -77.87% 32.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $1.068M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $39.49K $87.65K $1.138M
YoY Change -97.28% -92.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $53.72K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $53.72K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.49K $87.65K $1.138M
Total Long-Term Liabilities $0.00 $0.00 $53.72K
Total Liabilities $39.49K $87.65K $1.192M
YoY Change -97.38% -92.65%
SHAREHOLDERS EQUITY
Retained Earnings -$18.44M -$18.12M
YoY Change 16.71%
Common Stock $33.16K $33.16K
YoY Change 50.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.466M $6.678M $2.798M
YoY Change
Total Liabilities & Shareholders Equity $6.506M $6.766M $3.990M
YoY Change 57.71% 69.57%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$320.0K -$632.8K -$519.7K
YoY Change -71.61% 21.76% 1102.17%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.460M $37.49K -$707.7K
YoY Change 220.45% -105.3% 50.79%
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%
NET CHANGE
Cash From Operating Activities -1.460M 37.49K -707.7K
Cash From Investing Activities
Cash From Financing Activities 0.000 0.000 1.068M
Net Change In Cash -1.460M 37.49K 360.3K
YoY Change 220.45% -89.6% -176.77%
FREE CASH FLOW
Cash From Operating Activities -$1.460M $37.49K -$707.7K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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InventoryValuationReserves
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zunGl6R8gaA8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i><span id="xdx_86D_zkNPR4ZpoEQc">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>
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.00
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
380000 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
CY2023Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
6922 usd
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
1098630 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
NEOV Warrants Issued To Public Investors
WarrantsIssuedToPublicInvestors
1121250 shares
NEOV Warrant Issued To Public Investors Weighted Average Excercise Price
WarrantIssuedToPublicInvestorsWeightedAverageExcercisePrice
4.00
NEOV Warrants Issued To Underwriters
WarrantsIssuedToUnderwriters
58500 shares
NEOV Warrant Issued To Underwriters Weighted Average Excercise Price
WarrantIssuedToUnderwritersWeightedAverageExcercisePrice
4.40
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1179750 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.02
CY2023Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y3M18D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2023Q1 NEOV Warrants Exercisable Shares
WarrantsExercisableShares
1179750 shares
CY2023Q1 NEOV Warrants Exercisable Weighted Average Exercise Price
WarrantsExercisableWeightedAverageExercisePrice
4.02
NEOV Warrants And Rights Outstanding Term Exercisable
WarrantsAndRightsOutstandingTermExercisable
P4Y3M18D
CY2023Q1 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
1420201 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4361370 usd

Files In Submission

Name View Source Status
neov-20230331_lab.xml Edgar Link unprocessable
neov-20230331_def.xml Edgar Link unprocessable
neov-20230331_cal.xml Edgar Link unprocessable
neov-20230331_pre.xml Edgar Link unprocessable
0001683168-23-003269-index-headers.html Edgar Link pending
0001683168-23-003269-index.html Edgar Link pending
0001683168-23-003269.txt Edgar Link pending
0001683168-23-003269-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
neov-20230331.xsd Edgar Link pending
neovolta_ex3101.htm Edgar Link pending
neovolta_ex3102.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
neovolta_ex3201.htm Edgar Link pending
neovolta_ex3202.htm Edgar Link pending
neovolta_i10q-033123.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
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R2.htm Edgar Link pending
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R6.htm Edgar Link pending
R7.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
neovolta_i10q-033123_htm.xml Edgar Link completed