2022 Q4 Form 10-Q Financial Statement

#000162828022026757 Filed on October 20, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $1.847M $1.968M
YoY Change 1.5% -4.67%
Cost Of Revenue $617.3K $693.6K
YoY Change 6.89% 11.9%
Gross Profit $1.230M $1.274M
YoY Change -1.01% -11.78%
Gross Profit Margin 66.59% 64.76%
Selling, General & Admin $1.548M $1.912M
YoY Change 23.85% 35.83%
% of Gross Profit 125.86% 150.06%
Research & Development $538.4K $1.075M
YoY Change -46.0% 48.36%
% of Gross Profit 43.77% 84.35%
Depreciation & Amortization $10.22K $12.89K
YoY Change -137.56% -46.47%
% of Gross Profit 0.83% 1.01%
Operating Expenses $2.087M $2.987M
YoY Change -7.15% 40.09%
Operating Profit -$856.5K -$1.713M
YoY Change -14.73% 148.99%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $164.6K $106.7K
YoY Change 11021.62% 12029.55%
Pretax Income -$691.9K -$1.606M
YoY Change -31.02% 133.78%
Income Tax
% Of Pretax Income
Net Earnings -$691.9K -$1.606M
YoY Change -31.02% 133.78%
Net Earnings / Revenue -37.45% -81.62%
Basic Earnings Per Share -$0.23
Diluted Earnings Per Share -$0.09 -$0.23
COMMON SHARES
Basic Shares Outstanding 7.757M shares 7.130M shares
Diluted Shares Outstanding 7.025M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.20M $20.83M
YoY Change -6.08% -10.28%
Cash & Equivalents $21.20M $1.772M
Short-Term Investments $16.95M $19.05M
Other Short-Term Assets $2.907M $845.7K
YoY Change 385.86% 19.08%
Inventory $1.615M $1.057M
Prepaid Expenses
Receivables $646.8K $702.5K
Other Receivables $0.00 $0.00
Total Short-Term Assets $24.11M $23.43M
YoY Change -0.33% -8.33%
LONG-TERM ASSETS
Property, Plant & Equipment $165.6K $175.8K
YoY Change -16.65% -14.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $562.6K $26.40K
YoY Change 2031.17% -9.87%
Total Long-Term Assets $562.6K $600.4K
YoY Change -19.66% -18.12%
TOTAL ASSETS
Total Short-Term Assets $24.11M $23.43M
Total Long-Term Assets $562.6K $600.4K
Total Assets $24.67M $24.03M
YoY Change -0.88% -8.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $368.1K $539.4K
YoY Change 29.59% 70.17%
Accrued Expenses $589.9K $1.135M
YoY Change -27.54% 10.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.106M $1.832M
YoY Change -18.99% 5.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $207.5K $233.7K
YoY Change -32.34% -29.01%
Total Long-Term Liabilities $207.5K $233.7K
YoY Change -32.34% -29.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.106M $1.832M
Total Long-Term Liabilities $207.5K $233.7K
Total Liabilities $1.314M $2.066M
YoY Change -21.43% 0.02%
SHAREHOLDERS EQUITY
Retained Earnings -$203.6M -$202.9M
YoY Change 2.22% 2.39%
Common Stock $778.00 $714.00
YoY Change 16.29% 7.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.36M $21.97M
YoY Change
Total Liabilities & Shareholders Equity $24.67M $24.03M
YoY Change -0.88% -8.6%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$691.9K -$1.606M
YoY Change -31.02% 133.78%
Depreciation, Depletion And Amortization $10.22K $12.89K
YoY Change -137.56% -46.47%
Cash From Operating Activities -$1.483M -$2.228M
YoY Change 189.39% 124.46%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$9.750K
YoY Change -100.0% -76.66%
Acquisitions
YoY Change
Other Investing Activities $2.051M -$1.993M
YoY Change
Cash From Investing Activities $2.051M -$2.003M
YoY Change -30851.27% 4694.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.913M 0.000
YoY Change -1664.18% -100.0%
NET CHANGE
Cash From Operating Activities -1.483M -2.228M
Cash From Investing Activities 2.051M -2.003M
Cash From Financing Activities 1.913M 0.000
Net Change In Cash 2.481M -4.230M
YoY Change -486.83% -128.49%
FREE CASH FLOW
Cash From Operating Activities -$1.483M -$2.228M
Capital Expenditures $0.00 -$9.750K
Free Cash Flow -$1.483M -$2.218M
YoY Change 193.21% 133.29%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23213537 usd
nuro Stock Issuance Settle Incentive Compensation Obligation
StockIssuanceSettleIncentiveCompensationObligation
189398 usd
nuro Stock Issuance Settle Incentive Compensation Obligation
StockIssuanceSettleIncentiveCompensationObligation
0 usd
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
20800000 usd
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
25000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
25000 usd
CY2022Q3 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
18937643 usd
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>
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1606254 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-687089 usd
us-gaap Net Income Loss
NetIncomeLoss
-3724739 usd
us-gaap Net Income Loss
NetIncomeLoss
-1278456 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7025254 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7025254 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5818449 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5818449 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6976548 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6976548 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
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
839313 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
514809 shares
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
461349 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
422093 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
595890 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
284460 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
1057239 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
706553 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
277000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
109000 usd
CY2022Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
522044 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
440474 usd
CY2022Q3 nuro Accrued Consulting Current
AccruedConsultingCurrent
125000 usd
CY2021Q4 nuro Accrued Consulting Current
AccruedConsultingCurrent
5000 usd
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
18000 usd
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
28400 usd
CY2022Q3 nuro Accrued Leaseholds Current
AccruedLeaseholdsCurrent
0 usd
CY2021Q4 nuro Accrued Leaseholds Current
AccruedLeaseholdsCurrent
60000 usd
CY2022Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
143136 usd
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
108788 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
49479 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
62493 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1134659 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
814155 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
41446 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
165785 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
165785 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
117431 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
490447 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.15
CY2022Q3 nuro Operating Lease Discount
OperatingLeaseDiscount
108363 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
148391 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
233693 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
490447 usd
CY2022Q1 nuro Rent Expense Reduction
RentExpenseReduction
60000 usd
us-gaap Sublease Income
SubleaseIncome
22795 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
46102 usd
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
18932 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
116959 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
243289 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2022Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
76000 shares
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
326000 usd
CY2022Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
161764 shares
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
550000 usd
CY2022Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
57972 shares
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
202008 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1224278 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
10702 shares
CY2021Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
18950 usd

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