2021 Q1 Form 10-Q Financial Statement

#000162828021007364 Filed on April 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $2.155M $2.172M
YoY Change -0.76% -30.45%
Cost Of Revenue $576.3K $620.2K
YoY Change -7.08% -73.32%
Gross Profit $1.579M $1.552M
YoY Change 1.76% 94.3%
Gross Profit Margin 73.26% 71.45%
Selling, General & Admin $1.406M $1.676M
YoY Change -16.11% -54.01%
% of Gross Profit 89.04% 108.01%
Research & Development $233.3K $533.6K
YoY Change -56.28% -37.59%
% of Gross Profit 14.77% 34.39%
Depreciation & Amortization $22.18K $23.41K
YoY Change -5.23% -26.34%
% of Gross Profit 1.4% 1.51%
Operating Expenses $1.639M $2.210M
YoY Change -25.81% -50.89%
Operating Profit -$60.20K -$657.9K
YoY Change -90.85% -82.23%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$60.00K -$660.0K
YoY Change -90.91% -132.2%
Income Tax
% Of Pretax Income
Net Earnings -$59.78K -$657.4K
YoY Change -90.91% -132.06%
Net Earnings / Revenue -2.77% -30.27%
Basic Earnings Per Share -$0.02 -$0.45
Diluted Earnings Per Share -$0.02 -$0.45
COMMON SHARES
Basic Shares Outstanding 3.796M shares 1.457M shares
Diluted Shares Outstanding 3.796M shares 1.457M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.150M $2.820M
YoY Change 82.62% -60.83%
Cash & Equivalents $5.100M $2.816M
Short-Term Investments
Other Short-Term Assets $360.0K $340.0K
YoY Change 5.88% -64.58%
Inventory $979.6K $1.154M
Prepaid Expenses
Receivables $477.7K $386.1K
Other Receivables $0.00 $180.0K
Total Short-Term Assets $6.965M $4.878M
YoY Change 42.8% -58.06%
LONG-TERM ASSETS
Property, Plant & Equipment $182.8K $250.0K
YoY Change -26.91% -33.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.00K $30.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $755.5K $1.329M
YoY Change -43.14% -41.64%
TOTAL ASSETS
Total Short-Term Assets $6.965M $4.878M
Total Long-Term Assets $755.5K $1.329M
Total Assets $7.721M $6.206M
YoY Change 24.4% -55.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $381.2K $623.2K
YoY Change -38.82% 11.71%
Accrued Expenses $605.5K $1.065M
YoY Change -43.12% -64.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.088M $2.882M
YoY Change -27.55% -35.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $370.0K $810.0K
YoY Change -54.32% -33.06%
Total Long-Term Liabilities $370.0K $810.0K
YoY Change -54.32% -33.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.088M $2.882M
Total Long-Term Liabilities $370.0K $810.0K
Total Liabilities $2.460M $3.692M
YoY Change -33.38% -35.38%
SHAREHOLDERS EQUITY
Retained Earnings -$196.9M -$195.4M
YoY Change 0.77% 3.4%
Common Stock $380.00 $168.00
YoY Change 126.19% -79.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.261M $2.514M
YoY Change
Total Liabilities & Shareholders Equity $7.721M $6.206M
YoY Change 24.4% -55.37%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$59.78K -$657.4K
YoY Change -90.91% -132.06%
Depreciation, Depletion And Amortization $22.18K $23.41K
YoY Change -5.23% -26.34%
Cash From Operating Activities -$33.79K -$763.2K
YoY Change -95.57% -281.55%
INVESTING ACTIVITIES
Capital Expenditures $21.45K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$21.45K $0.00
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 -$25.80K $453.5K
YoY Change -105.69%
NET CHANGE
Cash From Operating Activities -$33.79K -$763.2K
Cash From Investing Activities -$21.45K $0.00
Cash From Financing Activities -$25.80K $453.5K
Net Change In Cash -$81.05K -$309.7K
YoY Change -73.83% -173.68%
FREE CASH FLOW
Cash From Operating Activities -$33.79K -$763.2K
Capital Expenditures $21.45K $0.00
Free Cash Flow -$55.24K -$763.2K
YoY Change -92.76% -281.55%

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CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
334434 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
979626 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
1051282 USD
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
199000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
343000 USD
CY2021Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
186614 USD
CY2020Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
49837 USD
CY2021Q1 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
1000 USD
CY2020Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
31000 USD
CY2021Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
42700 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
49600 USD
CY2021Q1 nuro Technology Fees
TechnologyFees
0 USD
CY2020Q4 nuro Technology Fees
TechnologyFees
450000 USD
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
176175 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
75005 USD
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
605489 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
998442 USD
CY2021Q1 nuro Accrued Technology Fees Write Off
AccruedTechnologyFeesWriteOff
450000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
491369 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
247347 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
165785 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
165785 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
117431 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1187717 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.147
CY2021Q1 nuro Operating Lease Discount
OperatingLeaseDiscount
249634 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
566256 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
371827 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1187717 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
166904 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
166904 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D

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