2022 Q1 Form 10-Q Financial Statement
#000162828022010331 Filed on April 26, 2022
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% |
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1943052 | USD |
CY2021Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
4197 | USD |
CY2022Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD |
CY2021Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
30000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1943052 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-25803 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1197276 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-81046 | USD |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
22572104 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5226213 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
23769380 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5145167 | USD |
CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
23800000 | USD |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
25000 | USD |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
25000 | USD |
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
93991 | USD |
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y4M24D | |
CY2022Q1 | 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> | |
CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-958562 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-59783 | USD |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6893164 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3796120 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6893164 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
3796120 | shares |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
510318 | shares |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.14 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.14 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.02 | |
CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
368572 | shares |
CY2022Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
413653 | USD |
CY2021Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
422093 | USD |
CY2022Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
298283 | USD |
CY2021Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
284460 | USD |
CY2022Q1 | us-gaap |
Inventory Net
InventoryNet
|
711936 | USD |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
706553 | USD |
CY2022Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
156000 | USD |
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 |