2024 Q1 Form 10-Q Financial Statement

#000149315224003195 Filed on January 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $3.171M $3.891M $3.419M
YoY Change 24.02% 13.8% 8.14%
Cost Of Revenue $1.847M $1.947M $1.680M
YoY Change 16.45% 15.92% -11.38%
Gross Profit $1.324M $1.944M $1.740M
YoY Change 36.38% 11.76% 37.35%
Gross Profit Margin 41.76% 49.96% 50.87%
Selling, General & Admin $2.864M $5.262M $3.981M
YoY Change 3.85% 32.15% 51.38%
% of Gross Profit 216.29% 270.66% 228.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $568.2K $72.60K $60.04K
YoY Change 2.82% 20.92% -91.35%
% of Gross Profit 42.91% 3.73% 3.45%
Operating Expenses $2.864M $5.262M $3.981M
YoY Change 3.85% 32.15% 51.38%
Operating Profit -$1.540M -$3.318M -$2.242M
YoY Change -13.83% 47.98% 64.41%
Interest Expense -$897.0K -$690.9K $167.2K
YoY Change -824.19% -513.12% -136.94%
% of Operating Profit
Other Income/Expense, Net -$308.8K -$1.343M -$1.695M
YoY Change -89.2% -20.75% 274.34%
Pretax Income -$2.746M -$4.661M -$3.937M
YoY Change -40.89% 18.39% 116.73%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.746M -$4.680M -$3.935M
YoY Change -40.58% 18.93% 116.66%
Net Earnings / Revenue -86.61% -120.28% -115.09%
Basic Earnings Per Share -$0.16 -$0.28 -$0.12
Diluted Earnings Per Share -$0.16 -$0.28 -$0.12
COMMON SHARES
Basic Shares Outstanding 17.75M shares 17.29M shares 33.86M shares
Diluted Shares Outstanding 17.64M shares 16.73M shares 3.386M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $651.8K $1.640M $878.7K
YoY Change 6.89% 86.64% -90.02%
Cash & Equivalents $651.8K $1.640M $878.7K
Short-Term Investments
Other Short-Term Assets $217.6K $213.8K $555.0K
YoY Change -60.19% -61.47% 110.86%
Inventory $947.4K $1.271M $1.010M
Prepaid Expenses
Receivables $2.154M $2.636M $960.1K
Other Receivables $1.049M $1.048M $1.053M
Total Short-Term Assets $5.019M $6.809M $4.457M
YoY Change 23.91% 52.75% -63.59%
LONG-TERM ASSETS
Property, Plant & Equipment $7.163M $5.307M $5.564M
YoY Change 31.45% -4.62% -34.87%
Goodwill $7.561M $7.555M $7.596M
YoY Change 0.28% -0.54%
Intangibles $15.21M $15.70M
YoY Change -11.59%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $29.93M $30.44M $33.29M
YoY Change -7.73% -8.58% -35.6%
TOTAL ASSETS
Total Short-Term Assets $5.019M $6.809M $4.457M
Total Long-Term Assets $29.93M $30.44M $33.29M
Total Assets $34.95M $37.24M $37.75M
YoY Change -4.22% -1.34% -40.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.174M $3.404M $2.075M
YoY Change 6.55% 64.02% 57.81%
Accrued Expenses $2.224M $1.301M $1.233M
YoY Change 81.84% 5.52% -44.57%
Deferred Revenue $35.07K $35.78K
YoY Change -1.99%
Short-Term Debt $2.208M $1.562M $6.840M
YoY Change 147.97% -77.16% 316.75%
Long-Term Debt Due $1.014M $1.016M $8.740K
YoY Change -0.6% 11523.23% -99.91%
Total Short-Term Liabilities $9.959M $10.92M $12.57M
YoY Change 61.2% -13.13% -19.73%
LONG-TERM LIABILITIES
Long-Term Debt $64.02K $63.78K $1.086M
YoY Change -1.48% -94.13% -5.93%
Other Long-Term Liabilities $1.639M $1.586M $2.010M
YoY Change -13.29% -21.11% 1.56%
Total Long-Term Liabilities $1.703M $1.649M $3.096M
YoY Change -12.9% -46.72% -1.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.959M $10.92M $12.57M
Total Long-Term Liabilities $1.703M $1.649M $3.096M
Total Liabilities $12.76M $13.96M $17.06M
YoY Change 33.95% -18.19% -15.91%
SHAREHOLDERS EQUITY
Retained Earnings -$74.46M -$71.71M -$57.75M
YoY Change 19.37% 24.17%
Common Stock $17.75K $17.29K $39.89K
YoY Change -87.29% -56.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.19M $23.58M $20.95M
YoY Change
Total Liabilities & Shareholders Equity $34.95M $37.24M $37.75M
YoY Change -4.22% -1.34% -40.96%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income -$2.746M -$4.680M -$3.935M
YoY Change -40.58% 18.93% 116.66%
Depreciation, Depletion And Amortization $568.2K $72.60K $60.04K
YoY Change 2.82% 20.92% -91.35%
Cash From Operating Activities -$1.714M -$2.152M -$278.2K
YoY Change 95.04% 673.57% -63.35%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.795M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.190K $3.296M -$1.034M
YoY Change -99.26% -418.78% -173.87%
NET CHANGE
Cash From Operating Activities -1.714M -$2.152M -$278.2K
Cash From Investing Activities
Cash From Financing Activities 3.190K $3.296M -$1.034M
Net Change In Cash -1.710M $1.224M -$1.300M
YoY Change 280.71% -194.13% -336.54%
FREE CASH FLOW
Cash From Operating Activities -$1.714M -$2.152M -$278.2K
Capital Expenditures
Free Cash Flow -$278.2K
YoY Change -56.44%

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CY2023Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
2219 usd
CY2022Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
2281 usd
CY2023Q4 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
143374 usd
CY2022Q4 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
167243 usd
CY2023Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-652174 usd
CY2023Q4 NVOS Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
-585529 usd
CY2023Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1075928 usd
CY2022Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1490513 usd
CY2023Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-59358 usd
CY2022Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-39301 usd
CY2023Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1343086 usd
CY2022Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1694776 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4660723 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3936736 usd
CY2023Q4 us-gaap Profit Loss
ProfitLoss
-4660723 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-3936736 usd
CY2023Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
19620 usd
CY2022Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1323 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
-4680343 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-3935413 usd
CY2023Q4 us-gaap Profit Loss
ProfitLoss
-4660723 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-3936736 usd
CY2023Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
108976 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-420982 usd
CY2023Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4551747 usd
CY2022Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4357718 usd
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16726308 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16726308 shares
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3385508 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3385508 shares
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.16
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.16
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
24499075 usd
CY2023Q4 NVOS Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
1323398 usd
CY2023Q4 NVOS Stock Issued During Period Value Exercise Of Warrants For Cash
StockIssuedDuringPeriodValueExerciseOfWarrantsForCash
240400 usd
CY2023Q4 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
577522 usd
CY2023Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1195400 usd
CY2023Q4 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
108976 usd
CY2023Q4 us-gaap Profit Loss
ProfitLoss
-4660723 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23284048 usd
CY2022Q4 NVOS Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
1139050 usd
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
60887 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22047571 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22047571 usd
CY2022Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1795000 usd
CY2023Q4 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
240400 usd
CY2023Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3296272 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1034021 usd
CY2023Q4 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
79770 usd
CY2022Q4 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
-420982 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-3936736 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-3936736 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20684790 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20684790 usd
CY2023Q4 us-gaap Profit Loss
ProfitLoss
-4660723 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-3936736 usd
CY2023Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
572404 usd
CY2022Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
586166 usd
CY2022Q4 NVOS Fair Value Of Vested Stock Options
FairValueOfVestedStockOptions
-60887 usd
CY2023Q4 NVOS Financing Costs For Debt Extension
FinancingCostsForDebtExtension
-1323398 usd
CY2022Q4 NVOS Financing Costs For Debt Extension
FinancingCostsForDebtExtension
-1139050 usd
CY2023Q4 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1195400 usd
CY2023Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
149877 usd
CY2022Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
209846 usd
CY2023Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1075928 usd
CY2022Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1490513 usd
CY2023Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-59358 usd
CY2022Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-39301 usd
CY2023Q4 NVOS Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
-585529 usd
CY2023Q4 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1168350 usd
CY2022Q4 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-28174 usd
CY2023Q4 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
166476 usd
CY2022Q4 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
157118 usd
CY2023Q4 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-130584 usd
CY2022Q4 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1471 usd
CY2023Q4 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-98996 usd
CY2022Q4 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
321961 usd
CY2023Q4 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
71214 usd
CY2022Q4 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
149945 usd
CY2023Q4 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
99430 usd
CY2022Q4 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-9232 usd
CY2023Q4 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-149877 usd
CY2022Q4 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-202465 usd
CY2023Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2152358 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-278237 usd
CY2023Q4 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-72402 usd
CY2022Q4 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-48480 usd
CY2023Q4 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
183100 usd
CY2023Q4 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2779 usd
CY2022Q4 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2763 usd
CY2023Q4 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
3314153 usd
CY2022Q4 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
2777778 usd
CY2022Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1795000 usd
CY2022Q4 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12271 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1223684 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1299987 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
416323 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2178687 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1640007 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
878700 usd
CY2023Q4 us-gaap Interest Paid Net
InterestPaidNet
45321 usd
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
186911 usd
CY2023Q4 NVOS Debt Discount Recognized On Derivative Liability
DebtDiscountRecognizedOnDerivativeLiability
3071653 usd
CY2022Q4 NVOS Debt Discount Recognized On Derivative Liability
DebtDiscountRecognizedOnDerivativeLiability
1390380 usd
CY2023Q4 NVOS Common Stock Issued For Convertible Debt Settlement
CommonStockIssuedForConvertibleDebtSettlement
577522 usd
CY2023Q4 NVOS Debt Discount Recognized On Convertible Note
DebtDiscountRecognizedOnConvertibleNote
3735414 usd
CY2023Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10 reverse stock split
CY2023Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10 reverse stock split
CY2023Q4 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_z0fpboaceMqc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span style="text-decoration: underline"><span id="xdx_868_zPN9H1Nf9MP4">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. This applies in particular to the going concern assessment, useful lives of non-current assets, impairment of non-current assets, allowance for doubtful receivables, allowance for slow moving and obsolete inventory, valuation of share-based compensation and warrants, valuation of derivative liability, and valuation allowance for deferred tax assets. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
6469 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
37900 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
157265 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
855116 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
864215 usd
CY2023Q4 NVOS Schedule Of Intangible Assets Amortized Estimated Useful Lives
ScheduleOfIntangibleAssetsAmortizedEstimatedUsefulLives
<p id="xdx_892_ecustom--ScheduleOfIntangibleAssetsAmortizedEstimatedUsefulLives_zCmnp02OBki" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company’s intangible assets are being amortized over their estimated useful lives as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span id="xdx_8B1_zdZ5SWXQ2NLb" style="display: none">Schedule of Intangible Assets Amortized Estimated Useful Lives</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Land use rights</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 68%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231130__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LandUseRightsMember_zrbXWsCvDz43" title="Intangible assets, estimated lives">50</span> years (the lease period)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Intellectual property</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231130__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--IntellectualPropertyMember_zcnsUXsWQNwj" title="Intangible assets, estimated lives">7</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer relationships</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231130__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zkUJsQDfoEO5" title="Intangible assets, estimated lives">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Brand names</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20231130__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BrandNamesMember_zNAzYx2mkiEl" title="Intangible assets, estimated lives">7</span> years</span></td></tr> </table>
CY2023Q4 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2023Q4 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
3491290 usd
CY2023Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2331243 usd
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2022Q3 us-gaap Goodwill
Goodwill
7825844 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-243361 usd
CY2023Q3 us-gaap Goodwill
Goodwill
7582483 usd
CY2023Q3 us-gaap Goodwill
Goodwill
7582483 usd
CY2023Q4 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-27704 usd
CY2023Q4 us-gaap Goodwill
Goodwill
7554779 usd
CY2023Q4 us-gaap Goodwill
Goodwill
7554779 usd
CY2023Q4 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p id="xdx_84E_eus-gaap--DerivativesReportingOfDerivativeActivity_z8fMUTcqHhrf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span style="text-decoration: underline"><span id="xdx_869_zEhHBau82nb1">Derivative Financial Instruments </span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Fair value accounting requires bifurcation of embedded derivative instruments such as conversion features in convertible debt or equity instruments and measurement of their fair value for accounting purposes. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt under ASC 470, the Company will continue its evaluation process of these instruments as derivative financial instruments under ASC 815. The Company applies the guidance in ASC 815-40-35-12 to determine the order in which each convertible instrument would be evaluated for derivative classification.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to the fair value of derivatives.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
855116 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
864215 usd
CY2023Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
108976 usd
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
922609 usd
CY2023Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 integer
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2636174 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1467028 usd
CY2021Q4 us-gaap Share Price
SharePrice
33.50
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
22388 shares
CY2021Q4 us-gaap Share Price
SharePrice
33.50
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1875000 usd
CY2023Q4 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_846_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zAt6CYP9bqy9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span style="text-decoration: underline"><span id="xdx_866_zQdjfyskgOgk">Reclassifications</span> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certain prior period amounts were reclassified to conform to the manner of presentation in the current period. These reclassifications had no effect on the net loss or shareholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q4 NVOS Trade Receivables
TradeReceivables
3412783 usd
CY2023Q3 NVOS Trade Receivables
TradeReceivables
2223243 usd
CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
78507 usd
CY2023Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
108000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
516811 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
388391 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
108244 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
81696 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
645780 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
636896 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
1270835 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
1106983 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1270835 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
1106983 usd
CY2023Q4 us-gaap Other Receivables
OtherReceivables
1047742 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
1051584 usd
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1047742 usd
CY2023Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1051584 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1820324 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1454624 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1208004 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
639025 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
8578655 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15704218 usd
CY2021Q4 NVOS Shares Adjustment Description
SharesAdjustmentDescription
The warrants expire on November 17, 2024. The Company first determined the value of the $1.875m convertible notes and the fair value of the detachable warrants issued in connection with this transaction.
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
351240 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6619035 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6643247 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1312422 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1253209 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5306613 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5390038 usd
CY2023Q4 us-gaap Depreciation
Depreciation
72604 usd
CY2022Q4 us-gaap Depreciation
Depreciation
60043 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23269852 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23290546 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7565634 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7072007 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15704218 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
16218539 usd
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
499800 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
526123 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2003586 usd
CY2023Q4 NVOS Accrued Liabilities Gross Current
AccruedLiabilitiesGrossCurrent
1049543 usd
CY2023Q3 NVOS Accrued Liabilities Gross Current
AccruedLiabilitiesGrossCurrent
961897 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
215936 usd
CY2023Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
236218 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
35070 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
35434 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1300549 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1233549 usd
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
157265 usd
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
342443 usd
CY2023Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
93488 usd
CY2023Q3 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
277405 usd
CY2023Q4 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
63777 usd
CY2023Q3 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
65038 usd
CY2023Q4 NVOS Debt Instrument Default Repayment Percentage
DebtInstrumentDefaultRepaymentPercentage
0.75 pure
CY2023Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.05 pure
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
93488 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6470 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6469 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
6469 usd

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