2022 Q1 Form 10-Q Financial Statement

#000162828022010331 Filed on April 26, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $2.302M $2.155M
YoY Change 6.82% -0.76%
Cost Of Revenue $508.9K $576.3K
YoY Change -11.7% -7.08%
Gross Profit $1.794M $1.579M
YoY Change 13.57% 1.76%
Gross Profit Margin 77.9% 73.26%
Selling, General & Admin $2.045M $1.406M
YoY Change 45.43% -16.11%
% of Gross Profit 114.02% 89.04%
Research & Development $710.6K $233.3K
YoY Change 204.61% -56.28%
% of Gross Profit 39.62% 14.77%
Depreciation & Amortization $12.88K $22.18K
YoY Change -41.95% -5.23%
% of Gross Profit 0.72% 1.4%
Operating Expenses $2.756M $1.639M
YoY Change 68.08% -25.81%
Operating Profit -$962.0K -$60.20K
YoY Change 1498.12% -90.85%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $3.430K $0.00
YoY Change
Pretax Income -$958.6K -$60.00K
YoY Change 1497.6% -90.91%
Income Tax
% Of Pretax Income
Net Earnings -$958.6K -$59.78K
YoY Change 1503.4% -90.91%
Net Earnings / Revenue -41.63% -2.77%
Basic Earnings Per Share -$0.14 -$0.02
Diluted Earnings Per Share -$0.14 -$0.02
COMMON SHARES
Basic Shares Outstanding 6.893M shares 3.796M shares
Diluted Shares Outstanding 6.893M shares 3.796M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.77M $5.150M
YoY Change 361.54% 82.62%
Cash & Equivalents $23.80M $5.100M
Short-Term Investments
Other Short-Term Assets $422.6K $360.0K
YoY Change 17.39% 5.88%
Inventory $711.9K $979.6K
Prepaid Expenses
Receivables $683.3K $477.7K
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.59M $6.965M
YoY Change 267.35% 42.8%
LONG-TERM ASSETS
Property, Plant & Equipment $184.3K $182.8K
YoY Change 0.87% -26.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.40K $30.00K
YoY Change -12.0% 0.0%
Total Long-Term Assets $661.1K $755.5K
YoY Change -12.49% -43.14%
TOTAL ASSETS
Total Short-Term Assets $25.59M $6.965M
Total Long-Term Assets $661.1K $755.5K
Total Assets $26.25M $7.721M
YoY Change 239.97% 24.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $360.9K $381.2K
YoY Change -5.35% -38.82%
Accrued Expenses $1.207M $605.5K
YoY Change 99.34% -43.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.727M $2.088M
YoY Change -17.28% -27.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $283.2K $370.0K
YoY Change -23.46% -54.32%
Total Long-Term Liabilities $283.2K $370.0K
YoY Change -23.46% -54.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.727M $2.088M
Total Long-Term Liabilities $283.2K $370.0K
Total Liabilities $2.010M $2.460M
YoY Change -18.27% -33.38%
SHAREHOLDERS EQUITY
Retained Earnings -$200.1M -$196.9M
YoY Change 1.64% 0.77%
Common Stock $701.00 $380.00
YoY Change 84.47% 126.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.24M $5.261M
YoY Change
Total Liabilities & Shareholders Equity $26.25M $7.721M
YoY Change 239.97% 24.4%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$958.6K -$59.78K
YoY Change 1503.4% -90.91%
Depreciation, Depletion And Amortization $12.88K $22.18K
YoY Change -41.95% -5.23%
Cash From Operating Activities -$740.4K -$33.79K
YoY Change 2091.12% -95.57%
INVESTING ACTIVITIES
Capital Expenditures $5.395K $21.45K
YoY Change -74.85%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.395K -$21.45K
YoY Change -74.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.943M -$25.80K
YoY Change -7630.33% -105.69%
NET CHANGE
Cash From Operating Activities -$740.4K -$33.79K
Cash From Investing Activities -$5.395K -$21.45K
Cash From Financing Activities $1.943M -$25.80K
Net Change In Cash $1.197M -$81.05K
YoY Change -1577.28% -73.83%
FREE CASH FLOW
Cash From Operating Activities -$740.4K -$33.79K
Capital Expenditures $5.395K $21.45K
Free Cash Flow -$745.8K -$55.24K
YoY Change 1249.99% -92.76%

Facts In Submission

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CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
109000 USD
CY2022Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
825698 USD
CY2021Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
440474 USD
CY2022Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
24800 USD
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
28400 USD
CY2022Q1 nuro Accrued Leaseholds Current
AccruedLeaseholdsCurrent
0 USD
CY2021Q4 nuro Accrued Leaseholds Current
AccruedLeaseholdsCurrent
60000 USD
CY2022Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
139507 USD
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
108788 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
61003 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
67493 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1207008 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
814155 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
124339 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
165785 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
165785 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
117431 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
573340 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.15
CY2022Q1 nuro Operating Lease Discount
OperatingLeaseDiscount
141740 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
148391 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
283209 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
573340 USD
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
22795 USD
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
24754 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
166904 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
20000 shares
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
104200 USD
CY2021Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
2408 shares
CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4197 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2302391 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2155472 USD
CY2022Q1 us-gaap Gross Profit
GrossProfit
1793517 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
1579183 USD
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
2755507 USD
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
1639378 USD
CY2022Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3428 USD
CY2021Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
412 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-958562 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-59783 USD

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