2024 Q2 Form 10-K Financial Statement

#000121390024053154 Filed on June 17, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $639.3K $450.0K $1.498M
YoY Change 98.29% 106.48% 22.88%
Cost Of Revenue $58.06K $65.49K $284.4K
YoY Change -1.85% 7.68% 8.27%
Gross Profit $581.2K $384.5K $1.213M
YoY Change 120.79% 144.73% 26.89%
Gross Profit Margin 90.92% 85.45% 81.01%
Selling, General & Admin $1.831M $2.503M $9.785M
YoY Change -31.96% -1777.23% 8.46%
% of Gross Profit 314.96% 651.01% 806.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.503K $7.240K $17.24K
YoY Change 0.03% -95.14% -95.07%
% of Gross Profit 0.6% 1.88% 1.42%
Operating Expenses $1.831M $2.504M $9.786M
YoY Change -31.96% -1777.39% 8.47%
Operating Profit -$1.249M -$2.119M -$8.573M
YoY Change -48.52% -791.64% 6.28%
Interest Expense -$200.7K -$246.7K $614.0K
YoY Change -274.8% 95.31% 89.29%
% of Operating Profit
Other Income/Expense, Net -$200.7K -$291.3K -$2.529M
YoY Change -53.46% 0.0% 27.4%
Pretax Income -$1.450M -$3.511M -$11.10M
YoY Change -49.27% 1717.23% 10.45%
Income Tax $993.00 $10.00 $2.033K
% Of Pretax Income
Net Earnings -$1.451M -$3.510M -$11.10M
YoY Change -49.27% 1649.52% 3.53%
Net Earnings / Revenue -226.98% -779.96% -741.33%
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share -$0.03 -$0.09 -$0.28
COMMON SHARES
Basic Shares Outstanding 45.79M shares 39.97M shares 39.97M shares
Diluted Shares Outstanding 45.68M shares 39.97M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.97K $133.9K
YoY Change -89.99% -86.61%
Cash & Equivalents $12.76K $100.3K
Short-Term Investments $19.21K $33.59K
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $602.4K $572.7K
Other Receivables $0.00 $100.0K
Total Short-Term Assets $634.3K $806.6K
YoY Change -32.95% -53.26%
LONG-TERM ASSETS
Property, Plant & Equipment $32.23K $39.16K
YoY Change -53.35% -30.31%
Goodwill
YoY Change
Intangibles $0.00
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $228.7K $263.5K
YoY Change -80.82% -78.3%
TOTAL ASSETS
Total Short-Term Assets $634.3K $806.6K
Total Long-Term Assets $228.7K $263.5K
Total Assets $863.1K $1.070M
YoY Change -59.64% -63.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.341M $1.154M
YoY Change 20.45% 56.33%
Accrued Expenses $1.429M $1.043M
YoY Change 162.19% 79.32%
Deferred Revenue
YoY Change
Short-Term Debt $2.136M $1.856M
YoY Change 96.36% 1223.07%
Long-Term Debt Due $4.405M $3.921M
YoY Change 31.94% 73881.89%
Total Short-Term Liabilities $9.373M $8.034M
YoY Change 52.29% 424.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.590K
YoY Change -100.0% -99.94%
Other Long-Term Liabilities $0.00 $1.592K
YoY Change -100.0% -99.44%
Total Long-Term Liabilities $0.00 $1.592K
YoY Change -100.0% -99.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.373M $8.034M
Total Long-Term Liabilities $0.00 $1.592K
Total Liabilities $9.519M $8.211M
YoY Change 48.58% 79.19%
SHAREHOLDERS EQUITY
Retained Earnings -$32.01M -$30.13M
YoY Change 28.82% 58.33%
Common Stock $45.80K $39.97K
YoY Change 14.58% 4.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.652M -$7.138M
YoY Change
Total Liabilities & Shareholders Equity $863.1K $1.070M
YoY Change -59.64% -63.6%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$1.451M -$3.510M -$11.10M
YoY Change -49.27% 1649.52% 3.53%
Depreciation, Depletion And Amortization $3.503K $7.240K $17.24K
YoY Change 0.03% -95.14% -95.07%
Cash From Operating Activities -$238.7K -$516.7K -$3.687M
YoY Change -77.01% -48.58% -8.69%
INVESTING ACTIVITIES
Capital Expenditures -$4.570K $35.43K
YoY Change -116.23% -38.43%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.710K $222.7K
YoY Change -100.0% -102.71% -68.59%
Cash From Investing Activities $0.00 -$2.720K $187.3K
YoY Change -100.0% -97.88% -71.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.138M
YoY Change -158.19%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 179.9K 418.7K $2.849M
YoY Change -77.81% -65.2% -26.51%
NET CHANGE
Cash From Operating Activities -238.7K -516.7K -$3.687M
Cash From Investing Activities 0.000 -2.720K $187.3K
Cash From Financing Activities 179.9K 418.7K $2.849M
Net Change In Cash -58.81K -100.7K -$650.7K
YoY Change 139.55% -243.56% -232.75%
FREE CASH FLOW
Cash From Operating Activities -$238.7K -$516.7K -$3.687M
Capital Expenditures -$4.570K $35.43K
Free Cash Flow -$512.1K -$3.722M
YoY Change -50.42% -9.1%

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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>1. Nature of operations</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Optimus Healthcare Services, Inc. (formerly Between Dandelions, Inc., “Optimus”, “Company”) was initially organized under the laws of Florida on February 26, 1990, as Phoenix Management Associates, Inc. Over the ensuing years, the Company made a series of amendments to its Articles of Incorporation relating to authorization of various series of Preferred Shares and made a series of name changes. The current name of Optimus Healthcare Services, Inc. became effective with the State of Florida on January 24, 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company is dedicated to advancing access to clinical trial research through its portfolio company Clinical Research Alliance, Inc. (“CRA”), and until December 2023 when it discontinued operations of its early stage pharmacy operation, through its portfolio company Worker’s Health Rx (d/b/a “Vitality Rx”).</span></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="text-decoration:underline">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. The most significant assumptions and estimates relate to the valuation of equity issued for services, valuation of equity associated with convertible debt, the valuation of derivative liabilities, and the valuation of deferred tax assets. Actual results could differ from these estimates.</p>
CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="background-color: white"><span style="text-decoration:underline">Concentration of Credit Risk</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable. The Company places its cash equivalents with financial institutions and invests its excess cash primarily in certificates of deposit, deposit accounts or treasury bills. The Company has established guidelines relative to credit ratings and maturities that seek to maintain stability and liquidity.</p>
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023 us-gaap Lessee Operating Lease Description
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The Company entered into a lease agreement commencing on July 1, 2023 through June 30, 2026 for 2,153 square feet of office space located at One Dupont Street, Suite 112, Plainview, New York, 11803.
CY2023 us-gaap Operating Lease Payments
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Liability
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The Series A Preferred Stock votes and is convertible at a rate of 1 preferred share to 1.25 common shares.
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0.73 pure
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P9Y5M4D
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CY2022Q4 us-gaap Beneficial Interest
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CY2023Q4 us-gaap Property Plant And Equipment Net
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CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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3948 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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327440 usd
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183241 usd
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CY2023 us-gaap Gain Loss On Sale Of Investments
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78510 usd
CY2022 us-gaap Gain Loss On Sale Of Investments
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CY2023 us-gaap Gain On Sale Of Investments
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161269 usd
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82759 usd
CY2022 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
203371 usd
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CY2023Q4 us-gaap Lines Of Credit Current
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CY2022Q4 us-gaap Lines Of Credit Current
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The unforgiven portion of the PPP loan totaling $19,137 is payable over five years at an interest rate of 1%, with a deferral of payments for the first twelve months.
CY2023Q4 us-gaap Other Liabilities Noncurrent
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CY2023 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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CY2023 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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2.4471 pure
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2023 ohcs Sharebased Compensation Arrangement By Sharebased Payment Award Options Weighted Average Remaining Term Options Granted
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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