2021 Q4 Form 10-Q Financial Statement

#000162828021020328 Filed on October 21, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.820M $2.064M $2.036M
YoY Change 0.56% 1.38% -2.48%
Cost Of Revenue $577.5K $619.8K $537.6K
YoY Change 20.31% 15.29% -41.2%
Gross Profit $1.243M $1.445M $1.499M
YoY Change -6.57% -3.61% 27.69%
Gross Profit Margin 68.27% 69.97% 73.6%
Selling, General & Admin $1.250M $1.408M $1.104M
YoY Change 11.62% 27.55% -47.7%
% of Gross Profit 100.6% 97.47% 73.66%
Research & Development $997.1K $724.6K $652.7K
YoY Change 84.64% 11.01% 37.36%
% of Gross Profit 80.24% 50.16% 43.55%
Depreciation & Amortization -$27.21K $24.08K $20.00K
YoY Change -236.05% 20.4% -300.0%
% of Gross Profit -2.19% 1.67% 1.33%
Operating Expenses $2.247M $2.132M $1.757M
YoY Change 35.37% 21.41% -32.07%
Operating Profit -$1.004M -$688.0K -$257.9K
YoY Change 204.39% 166.77% -81.74%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.480K $880.00 $774.00
YoY Change 13.7% -89.63%
Pretax Income -$1.003M -$687.1K -$260.0K
YoY Change 203.94% 164.27% -81.43%
Income Tax
% Of Pretax Income
Net Earnings -$1.003M -$687.1K -$257.1K
YoY Change 203.94% 167.23% -81.69%
Net Earnings / Revenue -55.11% -33.28% -12.63%
Basic Earnings Per Share -$0.12 -$0.07
Diluted Earnings Per Share -$150.8K -$0.12 -$0.07
COMMON SHARES
Basic Shares Outstanding 6.645M shares 5.818M shares 3.785M shares
Diluted Shares Outstanding 5.818M shares 3.785M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.57M $23.21M $4.930M
YoY Change 331.59% 370.86% 54.55%
Cash & Equivalents $22.57M $23.21M $4.929M
Short-Term Investments
Other Short-Term Assets $598.4K $710.1K $680.0K
YoY Change 24.66% 4.43% 1.49%
Inventory $706.6K $997.0K $1.050M
Prepaid Expenses
Receivables $310.8K $639.8K $633.1K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $24.19M $25.56M $7.290M
YoY Change 241.16% 250.62% 9.86%
LONG-TERM ASSETS
Property, Plant & Equipment $198.7K $204.9K $205.7K
YoY Change 8.29% -0.36% -31.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.40K $29.29K $30.00K
YoY Change -7.44% -2.37% 0.0%
Total Long-Term Assets $700.3K $733.3K $1.050M
YoY Change -22.59% -30.16% -43.88%
TOTAL ASSETS
Total Short-Term Assets $24.19M $25.56M $7.290M
Total Long-Term Assets $700.3K $733.3K $1.050M
Total Assets $24.89M $26.29M $8.340M
YoY Change 211.31% 215.27% -1.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $284.0K $317.0K $192.4K
YoY Change 99.58% 64.78% -69.88%
Accrued Expenses $814.2K $1.028M $1.011M
YoY Change -18.46% 1.7% -61.3%
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 $1.366M $1.736M $2.386M
YoY Change -40.24% -27.23% -39.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $306.7K $329.2K $580.0K
YoY Change -33.32% -43.25% -43.14%
Total Long-Term Liabilities $306.7K $329.2K $580.0K
YoY Change -33.32% -43.25% -43.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.366M $1.736M $2.386M
Total Long-Term Liabilities $306.7K $329.2K $580.0K
Total Liabilities $1.672M $2.066M $2.968M
YoY Change -39.11% -30.41% -39.83%
SHAREHOLDERS EQUITY
Retained Earnings -$199.2M -$198.2M -$196.6M
YoY Change 1.16% 0.82% 1.46%
Common Stock $669.00 $665.00 $378.00
YoY Change 76.52% 75.93% -61.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.22M $24.23M $5.372M
YoY Change
Total Liabilities & Shareholders Equity $24.89M $26.29M $8.340M
YoY Change 211.31% 215.27% -1.96%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$1.003M -$687.1K -$257.1K
YoY Change 203.94% 167.23% -81.69%
Depreciation, Depletion And Amortization -$27.21K $24.08K $20.00K
YoY Change -236.05% 20.4% -300.0%
Cash From Operating Activities -$512.5K -$992.5K -$520.0K
YoY Change -283.02% 90.87% -70.11%
INVESTING ACTIVITIES
Capital Expenditures -$6.670K -$41.77K $10.00K
YoY Change -517.7% -133.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$6.670K -$41.77K $10.00K
YoY Change -517.7% -133.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -122.3K 15.88M 0.000
YoY Change -711.55%
NET CHANGE
Cash From Operating Activities -512.5K -992.5K -520.0K
Cash From Investing Activities -6.670K -41.77K 10.00K
Cash From Financing Activities -122.3K 15.88M 0.000
Net Change In Cash -641.4K 14.85M -510.0K
YoY Change -313.81% -3011.64% -71.19%
FREE CASH FLOW
Cash From Operating Activities -$512.5K -$992.5K -$520.0K
Capital Expenditures -$6.670K -$41.77K $10.00K
Free Cash Flow -$505.8K -$950.7K -$530.0K
YoY Change -280.64% 79.38% -69.01%

Facts In Submission

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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5226213 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3126206 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23213537 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4929175 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
nuro Stock Issuance Settle Incentive Compensation Obligation
StockIssuanceSettleIncentiveCompensationObligation
0 USD
nuro Stock Issuance Settle Incentive Compensation Obligation
StockIssuanceSettleIncentiveCompensationObligation
43751 USD
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
25000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
25000 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
170151 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y3M18D
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ from those estimates.</span></div>
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-687089 USD
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NetIncomeLoss
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NetIncomeLoss
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us-gaap Net Income Loss
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5818449 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5818449 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3784657 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3784657 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4597580 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4597580 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2755903 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2755903 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
533455 shares
CY2020Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
24493 USD
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
162435 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
447770 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
186405 shares
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
728225 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
716848 USD
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
268726 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
334434 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
996951 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
1051282 USD
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
49837 USD
CY2021Q3 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
11000 USD
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
209000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
343000 USD
CY2021Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
494361 USD
CY2020Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
31000 USD
CY2021Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
33100 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
49600 USD
CY2021Q3 nuro Technology Fees
TechnologyFees
0 USD
CY2020Q4 nuro Technology Fees
TechnologyFees
450000 USD
CY2021Q3 nuro Accrued Leaseholds Current
AccruedLeaseholdsCurrent
60000 USD
CY2020Q4 nuro Accrued Leaseholds Current
AccruedLeaseholdsCurrent
0 USD
CY2021Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
111984 USD
CY2020Q3 nuro Idle Facility Impairment Charge
IdleFacilityImpairmentCharge
76000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
108928 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
50512 USD
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
998442 USD
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
34560 USD
us-gaap Sublease Income
SubleaseIncome
34560 USD
CY2021Q3 nuro Idle Facility Impairment Charge
IdleFacilityImpairmentCharge
0 USD
nuro Idle Facility Impairment Charge
IdleFacilityImpairmentCharge
126748 USD
nuro Idle Facility Impairment Charge
IdleFacilityImpairmentCharge
280000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
163790 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
247347 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
165785 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
165785 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
117431 USD
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
125000 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
166905 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
345147 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
329169 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
860138 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
243289 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
860138 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.147
CY2021Q3 nuro Operating Lease Discount
OperatingLeaseDiscount
185822 USD
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
18932 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
500713 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4197 USD
CY2021Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
18950 USD
CY2021Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
50000 shares
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
78500 USD
CY2020Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
7606 USD

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