2023 Q4 Form 10-Q Financial Statement

#000159552723000034 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $15.38M $16.02M $15.93M
YoY Change -5.04% 0.55% 5210.67%
Cost Of Revenue $10.16M $10.67M $10.61M
YoY Change 4.05% 0.53% 7.31%
Gross Profit $5.222M $5.340M $5.318M
YoY Change -18.84% 0.41% -10.73%
Gross Profit Margin 33.96% 33.33% 33.38%
Selling, General & Admin $1.975M $3.140M $4.698M
YoY Change -51.77% -33.16% 17.3%
% of Gross Profit 37.82% 58.8% 88.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.332M $6.500M $6.941M
YoY Change -17.8% -6.35% -11.59%
% of Gross Profit 121.26% 121.72% 130.52%
Operating Expenses $8.307M $9.640M $11.64M
YoY Change -29.59% -17.18% -1.83%
Operating Profit -$3.085M -$4.659M -$6.321M
YoY Change -42.49% -26.29% 0.14%
Interest Expense -$4.749M $4.739M $4.755M
YoY Change -0.04% -0.34% -1.0%
% of Operating Profit
Other Income/Expense, Net $9.000K -$4.731M -$4.753M
YoY Change 50.0% -0.46% -0.94%
Pretax Income -$73.88M -$9.390M -$11.07M
YoY Change 630.8% -15.21% -0.32%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$73.88M -$9.390M -$11.07M
YoY Change 630.8% -15.21% -0.45%
Net Earnings / Revenue -480.38% -58.61% -69.51%
Basic Earnings Per Share -$4.10 -$0.80
Diluted Earnings Per Share -$32.26 -$4.10 -$0.80
COMMON SHARES
Basic Shares Outstanding 2.334M shares 2.327M shares 13.81M shares
Diluted Shares Outstanding 2.289M shares 13.83M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.292M $5.100M $7.378M
YoY Change -42.57% -30.88% -68.16%
Cash & Equivalents $5.292M $5.090M $7.378M
Short-Term Investments
Other Short-Term Assets $6.150M $10.80M $6.033M
YoY Change 9.35% 79.02% -18.45%
Inventory
Prepaid Expenses
Receivables $30.75M $29.90M $28.85M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $42.19M $45.80M $42.26M
YoY Change -4.01% 8.37% -23.69%
LONG-TERM ASSETS
Property, Plant & Equipment $634.9M $706.4M $734.7M
YoY Change -12.8% -3.85% -2.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.67M $17.10M $23.67M
YoY Change -0.69% -27.76% 14.52%
Total Long-Term Assets $652.0M $724.4M $759.9M
YoY Change -12.66% -4.68% -2.17%
TOTAL ASSETS
Total Short-Term Assets $42.19M $45.80M $42.26M
Total Long-Term Assets $652.0M $724.4M $759.9M
Total Assets $694.2M $770.2M $802.2M
YoY Change -12.18% -3.99% -3.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.98M $15.10M $17.18M
YoY Change 1.47% -12.11% 162.91%
Accrued Expenses $54.66M $54.70M $54.73M
YoY Change -0.11% -0.05% -0.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $49.50M
YoY Change
Total Short-Term Liabilities $117.1M $69.80M $71.91M
YoY Change 73.52% -2.94% 17.28%
LONG-TERM LIABILITIES
Long-Term Debt $346.2M $395.3M $393.8M
YoY Change -12.17% 0.39% -0.99%
Other Long-Term Liabilities $6.044M $6.100M $8.513M
YoY Change -16.25% -28.34% -56.29%
Total Long-Term Liabilities $352.2M $401.4M $402.3M
YoY Change -12.24% -0.22% -3.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $117.1M $69.80M $71.91M
Total Long-Term Liabilities $352.2M $401.4M $402.3M
Total Liabilities $469.4M $471.2M $474.2M
YoY Change 0.11% -0.63% -0.9%
SHAREHOLDERS EQUITY
Retained Earnings -$505.3M -$431.4M -$389.2M
YoY Change 26.52% 10.83% 12.63%
Common Stock $23.00K $23.00K $146.0K
YoY Change 21.05% -84.25% 9.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $224.8M $298.9M $309.6M
YoY Change
Total Liabilities & Shareholders Equity $694.2M $770.2M $802.2M
YoY Change -12.18% -3.99% -3.6%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$73.88M -$9.390M -$11.07M
YoY Change 630.8% -15.21% -0.45%
Depreciation, Depletion And Amortization $6.332M $6.500M $6.941M
YoY Change -17.8% -6.35% -11.59%
Cash From Operating Activities -$3.475M $250.0K $1.601M
YoY Change -9.13% -84.38% 47.42%
INVESTING ACTIVITIES
Capital Expenditures $849.0K $410.0K -$3.491M
YoY Change 23.04% -111.74% 294.91%
Acquisitions
YoY Change
Other Investing Activities $4.130M
YoY Change
Cash From Investing Activities $3.281M -$410.0K -$3.491M
YoY Change -575.51% -88.26% 294.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.000K 0.000 1.980M
YoY Change -100.0% 248.59%
NET CHANGE
Cash From Operating Activities -3.475M 250.0K 1.601M
Cash From Investing Activities 3.281M -410.0K -3.491M
Cash From Financing Activities -5.000K 0.000 1.980M
Net Change In Cash -199.0K -160.0K 90.00K
YoY Change -95.59% -277.78% -88.31%
FREE CASH FLOW
Cash From Operating Activities -$3.475M $250.0K $1.601M
Capital Expenditures $849.0K $410.0K -$3.491M
Free Cash Flow -$4.324M -$160.0K $5.092M
YoY Change -4.21% -103.14% 158.48%

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CY2023Q3 us-gaap Number Of Real Estate Properties
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<div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify;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 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, and fair value measurements, as applicable.</span></div>
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P43Y3M18D
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OperatingLeaseWeightedAverageDiscountRatePercent
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nycr Advisory Agreement Renewal Term
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P5Y
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CY2020Q3 nycr Equity Based Compensation Consecutive Trading Days
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us-gaap Allocated Share Based Compensation Expense
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-4.10
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us-gaap Allocated Share Based Compensation Expense
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nycr Distributions On The Ltip Unit
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nycr Distribution On The Earned Ltip Unit
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1
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us-gaap Income Tax Expense Benefit
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CY2023Q3 us-gaap Dilutive Securities
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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2205702 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2023Q3 ecd Rule10b51 Arr Adopted Flag
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CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
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false

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