$NEOV
NeoVolta Inc.

2023 Q3 Form 10-K Financial Statement

#000168316823006642 Filed on September 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $764.1K $720.0K $3.456M
YoY Change -50.31% -20.52% -22.75%
Cost Of Revenue $643.0K $470.0K $2.768M
YoY Change -50.23% -39.21% -27.28%
Gross Profit $121.2K $260.0K $688.0K
YoY Change -50.72% 95.84% 3.13%
Gross Profit Margin 15.86% 36.11% 19.91%
Selling, General & Admin $560.0K $580.0K $3.290M
YoY Change -39.09% -53.21% -48.22%
% of Gross Profit 462.15% 223.08% 478.2%
Research & Development $0.00 $0.00 $29.94K
YoY Change -100.0% -100.0% -56.3%
% of Gross Profit 0.0% 0.0% 4.35%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $555.2K $570.0K $3.324M
YoY Change -40.96% -54.09% -48.25%
Operating Profit -$434.0K -$310.0K -$2.636M
YoY Change -37.51% -72.04% -54.2%
Interest Expense $0.00 $0.00 $4.134K
YoY Change -100.0% -100.0% -91.66%
% of Operating Profit
Other Income/Expense, Net $5.273K -$4.134K
YoY Change -227.55% -91.66%
Pretax Income -$430.0K -$320.0K -$2.640M
YoY Change -38.45% -71.61% -54.52%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$428.7K -$320.0K -$2.640M
YoY Change -38.63% -71.61% -54.52%
Net Earnings / Revenue -56.1% -44.44% -76.39%
Basic Earnings Per Share -$0.01 -$0.08
Diluted Earnings Per Share -$0.01 -$0.01 -$0.08
COMMON SHARES
Basic Shares Outstanding 33.16M shares 33.16M shares 32.03M shares
Diluted Shares Outstanding 33.16M shares 32.03M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.820M $2.000M $2.000M
YoY Change -54.42% 505.35% 505.35%
Cash & Equivalents $1.824M $2.003M $2.000M
Short-Term Investments
Other Short-Term Assets $50.00K $100.0K $100.0K
YoY Change -53.5% -58.16% -58.16%
Inventory $2.227M $2.581M $2.580M
Prepaid Expenses
Receivables $2.076M $1.826M $1.830M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.172M $6.506M $6.510M
YoY Change -21.0% 57.71% 57.81%
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 $6.172M $6.506M $6.510M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $6.172M $6.506M $6.510M
YoY Change -21.0% 57.71% 57.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $0.00
YoY Change -100.0% -100.0%
Accrued Expenses $50.00K $40.00K $40.00K
YoY Change -85.41% -77.87% -77.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $49.38K $39.49K $40.00K
YoY Change -85.59% -97.28% -97.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.38K $39.49K $40.00K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $50.00K $39.49K $40.00K
YoY Change -85.41% -97.38% -97.35%
SHAREHOLDERS EQUITY
Retained Earnings -$18.87M -$18.44M
YoY Change 14.37% 16.71%
Common Stock $33.16K $33.16K
YoY Change 1.17% 50.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.122M $6.466M $6.470M
YoY Change
Total Liabilities & Shareholders Equity $6.172M $6.506M $6.510M
YoY Change -21.0% 57.71% 57.81%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$428.7K -$320.0K -$2.640M
YoY Change -38.63% -71.61% -54.52%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$179.1K -$1.460M -$2.108M
YoY Change 51.59% 220.45% 81.21%
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 $0.00 0.000 $3.780M
YoY Change -100.0% 253.97%
NET CHANGE
Cash From Operating Activities -$179.1K -1.460M -$2.108M
Cash From Investing Activities
Cash From Financing Activities $0.00 0.000 $3.780M
Net Change In Cash -$179.1K -1.460M $1.672M
YoY Change -104.89% 220.45% -1854.96%
FREE CASH FLOW
Cash From Operating Activities -$179.1K -$1.460M -$2.108M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_847_eus-gaap--UseOfEstimates_zQdP7SjZJ9X4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i><span id="xdx_861_zSzDQE75RjP4">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>
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CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1179750 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.02
CY2023Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y1M6D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2023Q2 NEOV Warrants Exercisable Shares
WarrantsExercisableShares
1179750 shares
CY2023Q2 NEOV Warrants Exercisable Weighted Average Exercise Price
WarrantsExercisableWeightedAverageExercisePrice
4.02
CY2023 NEOV Warrants And Rights Outstanding Term Exercisable
WarrantsAndRightsOutstandingTermExercisable
P4Y1M6D
CY2023Q2 NEOV Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueExercisable
0 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
1529291 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
5307809 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
233200 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
104400 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
233200 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
104400 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
414600 usd

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