2024 Q4 Form 10-Q Financial Statement

#000149315224046025 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $7.672M
YoY Change -67.12%
Cost Of Revenue $5.626M
YoY Change -72.67%
Gross Profit $2.047M
YoY Change -25.5%
Gross Profit Margin 26.68%
Selling, General & Admin $3.723M
YoY Change 8.39%
% of Gross Profit 181.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.00K
YoY Change -23.23%
% of Gross Profit 1.86%
Operating Expenses $3.723M
YoY Change 8.39%
Operating Profit -$1.676M
YoY Change 143.81%
Interest Expense -$1.525M
YoY Change -997.42%
% of Operating Profit
Other Income/Expense, Net -$1.501M
YoY Change -45.72%
Pretax Income -$3.177M
YoY Change -7.99%
Income Tax
% Of Pretax Income
Net Earnings -$3.177M
YoY Change -9.22%
Net Earnings / Revenue -41.41%
Basic Earnings Per Share -$1.77
Diluted Earnings Per Share -$1.77
COMMON SHARES
Basic Shares Outstanding 2.441M shares 8.902M shares
Diluted Shares Outstanding 1.799M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.476M
YoY Change -32.36%
Cash & Equivalents $2.400M
Short-Term Investments $69.12K
Other Short-Term Assets $836.2K
YoY Change -31.11%
Inventory $3.652M
Prepaid Expenses
Receivables $2.727M
Other Receivables $0.00
Total Short-Term Assets $9.622M
YoY Change -46.01%
LONG-TERM ASSETS
Property, Plant & Equipment $666.7K
YoY Change -17.73%
Goodwill $22.32M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $2.224M
YoY Change 0.19%
Other Assets
YoY Change
Total Long-Term Assets $39.62M
YoY Change -6.71%
TOTAL ASSETS
Total Short-Term Assets $9.622M
Total Long-Term Assets $39.62M
Total Assets $49.24M
YoY Change -18.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.682M
YoY Change -3.31%
Accrued Expenses $5.561M
YoY Change -10.45%
Deferred Revenue
YoY Change
Short-Term Debt $7.000M
YoY Change 58.01%
Long-Term Debt Due $11.50M
YoY Change 114.55%
Total Short-Term Liabilities $27.22M
YoY Change 4.74%
LONG-TERM LIABILITIES
Long-Term Debt $9.299M
YoY Change -63.36%
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $9.299M
YoY Change -70.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.22M
Total Long-Term Liabilities $9.299M
Total Liabilities $36.60M
YoY Change -36.4%
SHAREHOLDERS EQUITY
Retained Earnings -$110.1M
YoY Change 2.75%
Common Stock $122.4M
YoY Change 11.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.05M
YoY Change
Total Liabilities & Shareholders Equity $49.24M
YoY Change -18.32%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$3.177M
YoY Change -9.22%
Depreciation, Depletion And Amortization $38.00K
YoY Change -23.23%
Cash From Operating Activities $77.70K
YoY Change -107.54%
INVESTING ACTIVITIES
Capital Expenditures $41.81K
YoY Change -53.54%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$41.81K
YoY Change -53.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.007M
YoY Change 401.87%
NET CHANGE
Cash From Operating Activities 77.70K
Cash From Investing Activities -41.81K
Cash From Financing Activities 2.007M
Net Change In Cash 2.043M
YoY Change -383.8%
FREE CASH FLOW
Cash From Operating Activities $77.70K
Capital Expenditures $41.81K
Free Cash Flow $35.89K
YoY Change -103.2%

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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-62157538 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-3453150 usd
us-gaap Profit Loss
ProfitLoss
-62157538 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-12 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-3453150 usd
us-gaap Net Income Loss
NetIncomeLoss
3212494 usd
us-gaap Net Income Loss
NetIncomeLoss
-62157538 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-128.65
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.79
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-128.65
CY2023Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
696852 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1515440 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
483146 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
696852 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1795257 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
483146 shares
CY2024Q3 us-gaap Profit Loss
ProfitLoss
-3177373 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-3453150 usd
us-gaap Profit Loss
ProfitLoss
3212482 usd
us-gaap Profit Loss
ProfitLoss
-62157538 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-228267 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-25349 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-90635 usd
CY2024Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3019908 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3681417 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3187133 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-62248173 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5811224 usd
CY2023Q1 OCTO Stock Issued During Period Value Issuance Of Common Stock To Note Holders
StockIssuedDuringPeriodValueIssuanceOfCommonStockToNoteHolders
7743333 usd
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
14600 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
47876820 usd
CY2023Q1 OCTO Stock Issued During Period Value Foreign Currency Translation
StockIssuedDuringPeriodValueForeignCurrencyTranslation
51365 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-49851140 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11646202 usd
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
201 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
189000 usd
CY2023Q2 OCTO Stock Issued During Period Value Foreign Currency Translation
StockIssuedDuringPeriodValueForeignCurrencyTranslation
86267 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
3387604 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-8853248 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6456026 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-46875 usd
CY2023Q3 OCTO Stock Issued During Period Value Foreign Currency Translation
StockIssuedDuringPeriodValueForeignCurrencyTranslation
-228267 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-3453150 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2727734 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-4347903 usd
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
710000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
99199 usd
CY2024Q1 OCTO Stock Issued During Period Value Issuance Of Common Stock Settlement Of Cash Warrants
StockIssuedDuringPeriodValueIssuanceOfCommonStockSettlementOfCashWarrants
206779 usd
CY2024Q1 OCTO Stock Issued During Period Value Issuance Of Common Stock To Note Holders
StockIssuedDuringPeriodValueIssuanceOfCommonStockToNoteHolders
1208000 usd
CY2024Q1 OCTO Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
262916 usd
CY2024Q1 OCTO Stock Issued During Period Value Common Stock Consultant
StockIssuedDuringPeriodValueCommonStockConsultant
492693 usd
CY2024Q1 OCTO Forgiveness Of Interest Related Parties
ForgivenessOfInterestRelatedParties
3006896 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
33938 usd
CY2024Q1 OCTO Stock Issued During Period Value Foreign Currency Translation
StockIssuedDuringPeriodValueForeignCurrencyTranslation
-177477 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
1940963 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3436004 usd
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
455 usd
CY2024Q2 OCTO Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
108539 usd
CY2024Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
40000 usd
CY2024Q2 OCTO Forgiveness Of Interest Related Parties
ForgivenessOfInterestRelatedParties
5400000 usd
CY2024Q2 OCTO Stock Issued During Period Value Foreign Currency Translation
StockIssuedDuringPeriodValueForeignCurrencyTranslation
-5337 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
4448892 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13428553 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13428553 usd
CY2024Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2207478 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19333 usd
CY2024Q3 OCTO Stock Issued During Period Value Foreign Currency Translation
StockIssuedDuringPeriodValueForeignCurrencyTranslation
157465 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
-3177373 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
-3177373 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12635456 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12635456 usd
us-gaap Profit Loss
ProfitLoss
3212482 usd
us-gaap Profit Loss
ProfitLoss
-62157538 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1831064 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1903988 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
292748 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1087750 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5942084 usd
OCTO Amortization Of Prepaid Sharebased Compensation
AmortizationOfPrepaidSharebasedCompensation
426251 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
46928815 usd
us-gaap Share Based Compensation
ShareBasedCompensation
53270 usd
us-gaap Share Based Compensation
ShareBasedCompensation
142125 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
608356 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-5897 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
7427193 usd
OCTO Gain Loss On Forgiveness Of Earnout
GainLossOnForgivenessOfEarnout
6100000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
853080 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2127764 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2402608 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2903490 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-25740 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-522392 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
450652 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
600101 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
3804591 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
3544280 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1085865 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6698006 usd
OCTO Payments To Proceeds From Property And Equipment Acquisition
PaymentsToProceedsFromPropertyAndEquipmentAcquisition
47685 usd
OCTO Payments To Proceeds From Property And Equipment Acquisition
PaymentsToProceedsFromPropertyAndEquipmentAcquisition
117403 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
246468 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
181000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47685 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-182871 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
375000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2575000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2917934 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14799 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
3150000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
664389 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1707834 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4959110 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2841384 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1921767 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5247836 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5580431 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2406452 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3658664 usd
us-gaap Interest Paid Net
InterestPaidNet
843101 usd
us-gaap Stock Issued1
StockIssued1
60000 usd
OCTO Issuance Of Common Stock To Vendors For Future Services
IssuanceOfCommonStockToVendorsForFutureServices
480250 usd
OCTO Issuance Of Common Stock To Employees And Directors For Settlement Of Liabilities
IssuanceOfCommonStockToEmployeesAndDirectorsForSettlementOfLiabilities
318205 usd
OCTO Issuance Of Common Stock To Vendors For Settlement Of Liabilities
IssuanceOfCommonStockToVendorsForSettlementOfLiabilities
105693 usd
OCTO Issuance Of Common Stock To Noteholders For Settlement Of Accrued Interest
IssuanceOfCommonStockToNoteholdersForSettlementOfAccruedInterest
1148000 usd
OCTO Issuance Of Common Stock To Noteholders For Settlement Of Cash Warrant Liabilities
IssuanceOfCommonStockToNoteholdersForSettlementOfCashWarrantLiabilities
206779 usd
OCTO Forgiveness Of Interest Related Parties
ForgivenessOfInterestRelatedParties
3006896 usd
OCTO Forgiveness Of Debt Related Parties
ForgivenessOfDebtRelatedParties
5400000 usd
OCTO Convertible Shares Under Notes Payable
ConvertibleSharesUnderNotesPayable
99199 usd
OCTO Convertible Shares Under Notes Payable
ConvertibleSharesUnderNotesPayable
7742559 usd
OCTO Warrants Issued
WarrantsIssued
4335611 usd
OCTO Original Issue Discount
OriginalIssueDiscount
555000 usd
OCTO Accrued Placement Agent Fees For Equity Placement
AccruedPlacementAgentFeesForEquityPlacement
960000 usd
CY2024Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-5 reverse stock split
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zlpr2I1e0ET6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i><span><span id="xdx_86B_zNSanoUVg8Vb">Use of Estimates</span>. </span></i>The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount 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 these estimates. The Company’s significant estimates used in these condensed consolidated financial statements include, but are not limited to, fair value of warrants, revenue recognition and the determination of the economic useful life of depreciable property and equipment. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
67350 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
292748 usd
CY2024Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
157465 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-228267 usd
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-25349 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-90635 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1799368 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
696852 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1515440 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
483146 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
44217 shares
OCTO Warrants For Equity Investors
WarrantsForEquityInvestors
145600 shares
OCTO Shares To Be Issued
SharesToBeIssued
90000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1799368 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
696852 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1795257 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
483146 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
323415 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1564287 shares
CY2024Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
20798734 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
11500000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zrdsj4VdkKra" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i><span id="xdx_868_z1ZaMaGIKUla">Concentration of Credit Risks</span>. </i>Financial instruments that potentially subject the Company to concentrations of credit risk are cash equivalents and accounts receivable. Cash and cash equivalents are invested in deposits with certain financial institutions and may, at times, exceed federally insured limits. The Company has not experienced any significant losses on its deposits of cash and cash equivalents. In regard to trade receivables, the Company performs ongoing evaluations of its customers’ financial condition as well as general economic conditions and, generally, requires no collateral from its customers. As of </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 30, 2024<span style="background-color: white">, the amount due from four customers represented approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zE9xucrqkTxd">37</span>%, <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_zYuUBtpatVUe">13</span>%, <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember_zB1KxdSuYCrh">12</span>% and <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--FourCustomerMember_zQ9Qkd04X6Ak">11</span>% of accounts receivable, respectively.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-110066094 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2400000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5200000 usd
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
400000 usd
us-gaap Severance Costs1
SeveranceCosts1
1404038 usd
us-gaap Severance Costs1
SeveranceCosts1
940000 usd
OCTO Rent Expense
RentExpense
10800 usd
OCTO Rent Expense
RentExpense
614658 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
292748 usd
us-gaap Restructuring Costs
RestructuringCosts
1414838 usd
us-gaap Restructuring Costs
RestructuringCosts
1847406 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
2250000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
1485000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
1202844 usd
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
2532156 usd
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
2532156 usd
CY2024Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2794380 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1941300 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
67350 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
67350 usd
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2727030 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1873950 usd
CY2024Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
37128 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
22116 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4114822 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
6657791 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
500000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
600000 usd
CY2024Q3 OCTO Inventories Net
InventoriesNet
3651950 usd
CY2023Q4 OCTO Inventories Net
InventoriesNet
6079907 usd
CY2024Q3 OCTO Advances For Inventory Purchases
AdvancesForInventoryPurchases
682470 usd
CY2023Q4 OCTO Advances For Inventory Purchases
AdvancesForInventoryPurchases
517228 usd
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CY2024Q3 us-gaap Property Plant And Equipment Net
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CY2023Q4 us-gaap Property Plant And Equipment Net
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CY2024Q3 us-gaap Depreciation Depletion And Amortization
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FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsGross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2024Q3 us-gaap Finite Lived Intangible Assets Net
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
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CY2024Q3 OCTO Finite Lived Intangible Assets Amortization Expense Rolling After Year Four
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4633930 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
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CY2024Q3 us-gaap Employee Related Liabilities Current
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CY2024Q3 OCTO Accrued Taxes
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13822 usd
CY2023Q4 OCTO Accrued Settlement Liability For Equity Holders
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CY2024Q3 us-gaap Accrued Professional Fees Current
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CY2024Q3 us-gaap Other Liabilities
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CY2024Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
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us-gaap Debt Instrument Decrease Forgiveness
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CY2024Q3 us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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CY2022Q3 OCTO Percentage On Deposit Of Warrant Exercise Cash
PercentageOnDepositOfWarrantExerciseCash
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CY2024Q3 us-gaap Convertible Long Term Notes Payable
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OCTO Gain Loss On Forgiveness Of Earnout
GainLossOnForgivenessOfEarnout
6100000 usd
CY2024Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5543056 usd
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
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250000000 shares
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CommonStockSharesAuthorized
500000000 shares
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120000 usd
CY2024Q2 us-gaap Proceeds From Rents Received
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930000 usd
CY2024Q3 us-gaap Payments For Rent
PaymentsForRent
65835 usd
CY2023Q3 us-gaap Payments For Rent
PaymentsForRent
87153 usd
us-gaap Payments For Rent
PaymentsForRent
190618 usd
us-gaap Payments For Rent
PaymentsForRent
777779 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
609000 usd
CY2024Q3 us-gaap Assets
Assets
49239979 usd
CY2023Q3 us-gaap Assets
Assets
60286448 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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