2022 Q1 Form 10-Q Financial Statement
#000121390022025943 Filed on May 12, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $1.199M | $251.0K |
| YoY Change | 377.69% | |
| Cost Of Revenue | $3.037M | $7.398M |
| YoY Change | -58.95% | |
| Gross Profit | -$1.838M | -$7.147M |
| YoY Change | -74.28% | |
| Gross Profit Margin | -153.29% | -2847.41% |
| Selling, General & Admin | $9.340M | $2.737M |
| YoY Change | 241.25% | |
| % of Gross Profit | ||
| Research & Development | $3.988M | $2.383M |
| YoY Change | 67.35% | |
| % of Gross Profit | ||
| Depreciation & Amortization | $882.0K | $343.0K |
| YoY Change | 157.14% | |
| % of Gross Profit | ||
| Operating Expenses | $14.21M | $5.463M |
| YoY Change | 160.11% | |
| Operating Profit | -$16.05M | -$12.61M |
| YoY Change | 27.26% | |
| Interest Expense | -$2.781M | |
| YoY Change | ||
| % of Operating Profit | ||
| Other Income/Expense, Net | $6.371M | -$11.66M |
| YoY Change | -154.63% | |
| Pretax Income | -$9.677M | -$27.05M |
| YoY Change | -64.23% | |
| Income Tax | $34.00K | $15.00K |
| % Of Pretax Income | ||
| Net Earnings | -$9.711M | -$27.07M |
| YoY Change | -64.12% | |
| Net Earnings / Revenue | -809.92% | -10784.06% |
| Basic Earnings Per Share | -$0.10 | |
| Diluted Earnings Per Share | -$96.27K | -$283.5K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 100.9K shares | |
| Diluted Shares Outstanding | 100.9K shares |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $93.78M | $310.0K |
| YoY Change | 30151.94% | |
| Cash & Equivalents | $93.78M | |
| Short-Term Investments | ||
| Other Short-Term Assets | $2.907M | $550.0K |
| YoY Change | 428.55% | |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $37.00K | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $96.73M | $860.0K |
| YoY Change | 11147.09% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $34.32M | |
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $203.1M | |
| YoY Change | ||
| Other Assets | $1.040M | $203.1M |
| YoY Change | -99.49% | |
| Total Long-Term Assets | $39.41M | $203.1M |
| YoY Change | -80.59% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $96.73M | $860.0K |
| Total Long-Term Assets | $39.41M | $203.1M |
| Total Assets | $136.1M | $203.9M |
| YoY Change | -33.24% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.138M | $430.0K |
| YoY Change | 164.65% | |
| Accrued Expenses | $7.503M | |
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $9.110M | $430.0K |
| YoY Change | 2018.6% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | |
| YoY Change | ||
| Other Long-Term Liabilities | $30.09M | $23.55M |
| YoY Change | 27.77% | |
| Total Long-Term Liabilities | $30.09M | $23.55M |
| YoY Change | 27.77% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $9.110M | $430.0K |
| Total Long-Term Liabilities | $30.09M | $23.55M |
| Total Liabilities | $39.20M | $23.98M |
| YoY Change | 63.47% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $96.94M | -$525.0M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $136.1M | $203.9M |
| YoY Change | -33.24% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$9.711M | -$27.07M |
| YoY Change | -64.12% | |
| Depreciation, Depletion And Amortization | $882.0K | $343.0K |
| YoY Change | 157.14% | |
| Cash From Operating Activities | -$6.097M | -$8.454M |
| YoY Change | -27.88% | |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$208.0K | -$911.0K |
| YoY Change | -77.17% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$208.0K | -$911.0K |
| YoY Change | -77.17% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $0.00 | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 25.00K | 8.067M |
| YoY Change | -99.69% | |
| NET CHANGE | ||
| Cash From Operating Activities | -6.097M | -8.454M |
| Cash From Investing Activities | -208.0K | -911.0K |
| Cash From Financing Activities | 25.00K | 8.067M |
| Net Change In Cash | -6.280M | -1.298M |
| YoY Change | 383.82% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$6.097M | -$8.454M |
| Capital Expenditures | -$208.0K | -$911.0K |
| Free Cash Flow | -$5.889M | -$7.543M |
| YoY Change | -21.93% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | nn |
Issuance Of Warrants For Rent Expense
IssuanceOfWarrantsForRentExpense
|
USD | |
| CY2022Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001865631 | |
| CY2022Q1 | nn |
Amortization Of Debt Issuance Costs And Discount
AmortizationOfDebtIssuanceCostsAndDiscount
|
USD | |
| CY2022Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
USD | |
| CY2021Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
USD | |
| CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
USD | |
| CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
USD | |
| CY2021Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
USD | |
| CY2021Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
USD | |
| CY2021Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
0 | shares |
| CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
USD | |
| CY2022Q1 | us-gaap |
Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
|
USD | |
| CY2022Q1 | nn |
Stock And Warrants Issued During Period Value Exercise Of Common Warrants
StockAndWarrantsIssuedDuringPeriodValueExerciseOfCommonWarrants
|
USD | |
| CY2022Q1 | nn |
Fixed Asset Writeoff
FixedAssetWriteoff
|
USD | |
| CY2021Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
USD | |
| CY2021Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
USD | |
| CY2022Q1 | nn |
Proceeds From Senior Secured Loan
ProceedsFromSeniorSecuredLoan
|
USD | |
| CY2021Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
USD | |
| CY2021Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
USD | |
| CY2021Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
USD | |
| CY2021Q1 | nn |
Settlement Of Notes Payable For Class D Preferred Shares
SettlementOfNotesPayableForClassDPreferredShares
|
USD | |
| CY2022Q1 | nn |
Financing Costs Accrued But Not Paid
FinancingCostsAccruedButNotPaid
|
USD | |
| CY2021Q1 | nn |
Commercial
Commercial
|
USD | |
| CY2021Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
USD | |
| CY2021Q1 | nn |
Unvested Restricted Stock Awards
UnvestedRestrictedStockAwards
|
shares | |
| CY2022Q1 | nn |
Preferred Unitsshares
PreferredUnitsshares
|
shares | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P5Y | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | |
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure |
