$NRDE
NU RIDE INC.

2024 Q1 Form 10-K Financial Statement

#000155837024002081 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $2.340M
YoY Change -100.0% -100.0% 1106.19%
Cost Of Revenue $0.00 $0.00 $91.55M
YoY Change -100.0% -100.0% 204.93%
Gross Profit $0.00 $0.00 -$89.21M
YoY Change -100.0% -100.0% 199.07%
Gross Profit Margin -3812.39%
Selling, General & Admin $5.243M -$15.36M $54.41M
YoY Change -64.3% -169.31% -60.65%
% of Gross Profit
Research & Development $0.00 $898.0K $33.34M
YoY Change -100.0% -94.24% -69.07%
% of Gross Profit
Depreciation & Amortization -$3.000K $54.41M
YoY Change -100.04% 541.89%
% of Gross Profit
Operating Expenses $9.484M $3.101M $259.7M
YoY Change -93.39% -91.79% -27.35%
Operating Profit -$9.484M -$3.101M -$348.9M
YoY Change -94.55% -95.41% -9.92%
Interest Expense $1.109M $1.185M $6.625M
YoY Change -53.62% -41.31% 106.64%
% of Operating Profit
Other Income/Expense, Net -$98.00K $206.0K $123.0K
YoY Change -253.13% -77.9% -84.39%
Pretax Income -$8.473M -$349.0K -$343.1M
YoY Change -95.07% -99.66% 21.48%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.500M -$4.695M -$343.1M
YoY Change -95.05% -95.41% 21.48%
Net Earnings / Revenue -14660.94%
Basic Earnings Per Share -$0.57 -$21.67
Diluted Earnings Per Share -$0.57 -$0.29 -$21.67
COMMON SHARES
Basic Shares Outstanding 15.95M 15.95M 15.95M
Diluted Shares Outstanding 16.05M 15.95M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.72M $87.10M $87.10M
YoY Change -88.84% -60.71% -60.71%
Cash & Equivalents $19.72M $87.10M $87.10M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $1.335M $1.016M $5.043M
YoY Change -85.21% -95.06% -75.46%
Inventory $0.00 $0.00
Prepaid Expenses $4.027M
Receivables
Other Receivables
Total Short-Term Assets $79.14M $92.14M $92.14M
YoY Change -58.79% -63.99% -63.99%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $30.00K $30.00K
YoY Change -100.0% -98.87% -98.87%
Total Long-Term Assets $0.00 $30.00K $30.00K
YoY Change -100.0% -99.98% -99.98%
TOTAL ASSETS
Total Short-Term Assets $79.14M $92.14M $92.14M
Total Long-Term Assets $0.00 $30.00K $30.00K
Total Assets $79.14M $92.17M $92.17M
YoY Change -70.95% -79.62% -79.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.474M $933.0K $13.75M
YoY Change -70.66% -92.71% 7.4%
Accrued Expenses $355.0K $1.650M $1.650M
YoY Change -99.3% -97.06% -97.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.09M $15.40M $15.40M
YoY Change -81.15% -77.63% -77.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $26.92M $30.47M $30.47M
YoY Change 2928.46% 2006.98% 2006.98%
Total Long-Term Liabilities $26.92M $30.47M $30.47M
YoY Change 2928.46% 2006.98% 2006.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.09M $15.40M $15.40M
Total Long-Term Liabilities $26.92M $30.47M $30.47M
Total Liabilities $38.02M $45.87M $45.87M
YoY Change -36.35% -34.74% -34.74%
SHAREHOLDERS EQUITY
Retained Earnings -$1.200B -$1.200B
YoY Change 20.13% 45.07%
Common Stock $24.00K $24.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.710M $13.55M $46.30M
YoY Change
Total Liabilities & Shareholders Equity $79.14M $92.17M $92.17M
YoY Change -70.95% -79.62% -79.62%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$8.500M -$4.695M -$343.1M
YoY Change -95.05% -95.41% 21.48%
Depreciation, Depletion And Amortization -$3.000K $54.41M
YoY Change -100.04% 541.89%
Cash From Operating Activities -$9.555M -$17.15M -$137.2M
YoY Change -74.93% -59.87% -35.83%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $2.000K $10.15M
YoY Change -100.0% -100.0% -81.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.61M $113.1M
YoY Change -100.0% -83.42% 182.92%
Cash From Investing Activities $0.00 $10.60M $102.9M
YoY Change -100.0% -126.28% -189.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -106.0K 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -9.555M -17.15M -137.2M
Cash From Investing Activities 0.000 10.60M 102.9M
Cash From Financing Activities -106.0K 0.000 0.000
Net Change In Cash -9.661M -6.549M -34.26M
YoY Change -27.21% -80.08% -72.07%
FREE CASH FLOW
Cash From Operating Activities -$9.555M -$17.15M -$137.2M
Capital Expenditures $0.00 $2.000K $10.15M
Free Cash Flow -$9.555M -$17.16M -$147.3M
YoY Change -79.26% -88.33% -45.1%

Facts In Submission

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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates in Financial Statement Preparation</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="white-space:pre-wrap;">The preparation of financial statements in accordance with GAAP is based on the selection and application of accounting policies that require us to make significant estimates and assumptions that affect the reported amounts in the consolidated financial statements, and related disclosures in the accompanying notes to the financial statements. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of changes are reflected in the Financial Statements in the period they are determined to be necessary. The Chapter 11 Cases will result in continuous changes in facts and circumstances that will cause the Company’s estimates and assumptions to change, potentially materially. </span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">We undertake no obligation to update or revise any of the disclosures, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.</span></p>
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;padding-bottom:10pt;margin:0pt;">Warrants</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt 0pt 10pt 0pt;">The Company accounted for its warrants in accordance with the guidance contained in ASC Topic 815-40-15-7D and 7F under which the warrants did not meet the criteria for equity treatment and were recorded as liabilities at their fair value at each reporting period. Any change in fair value was recognized in the statement of operations. As a result of the Chapter 11 Cases, the fair value of the Company’s warrants was deemed to be zero and adjusted accordingly as of June 30, 2023.</p>
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ride-20231231xex4d1.htm Edgar Link pending
ride-20231231xex97d1.htm Edgar Link pending
ride-20231231_def.xml Edgar Link unprocessable
ride-20231231_lab.xml Edgar Link unprocessable
ride-20231231x10k_htm.xml Edgar Link completed
Show.js Edgar Link pending
ride-20231231_pre.xml Edgar Link unprocessable
ride-20231231_cal.xml Edgar Link unprocessable