2024 Q4 Form 10-Q Financial Statement

#000121390024100736 Filed on November 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $384.8K $453.7K
YoY Change -15.2% 30.69%
Cost Of Revenue $74.06K $79.75K
YoY Change -7.13% 22.65%
Gross Profit $310.7K $374.0K
YoY Change -16.92% 32.55%
Gross Profit Margin 80.75% 82.42%
Selling, General & Admin $1.720M
YoY Change -35.13%
% of Gross Profit 459.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.409K $7.774K
YoY Change -56.15% -498.67%
% of Gross Profit 1.1% 2.08%
Operating Expenses $1.912M $1.720M
YoY Change 11.15% -35.12%
Operating Profit -$1.601M -$1.346M
YoY Change 18.95% -43.18%
Interest Expense $144.5K
YoY Change 38.55%
% of Operating Profit
Other Income/Expense, Net -$205.1K -$431.8K
YoY Change -52.5% -40.11%
Pretax Income -$1.807M -$1.778M
YoY Change 1.6% -42.46%
Income Tax
% Of Pretax Income
Net Earnings -$1.807M -$1.778M
YoY Change 1.6% -42.46%
Net Earnings / Revenue -469.52% -391.9%
Basic Earnings Per Share -$0.04 -$0.04
Diluted Earnings Per Share -$0.04 -$0.04
COMMON SHARES
Basic Shares Outstanding 50.02M shares 47.91M shares 39.97M shares
Diluted Shares Outstanding 47.88M shares 39.97M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $340.0K
YoY Change -68.45%
Cash & Equivalents $152.4K $200.4K
Short-Term Investments $130.0K
Other Short-Term Assets
YoY Change
Inventory $6.979K
Prepaid Expenses
Receivables $570.0K
Other Receivables $200.0K
Total Short-Term Assets $418.1K $1.114M
YoY Change -62.46% -33.72%
LONG-TERM ASSETS
Property, Plant & Equipment $28.82K $80.35K
YoY Change -64.14% 165.01%
Goodwill $815.5K
YoY Change -77.57%
Intangibles $2.000K
YoY Change -99.88%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $211.4K $1.236M
YoY Change -82.89% -78.42%
TOTAL ASSETS
Total Short-Term Assets $418.1K $1.114M
Total Long-Term Assets $211.4K $1.236M
Total Assets $629.5K $2.350M
YoY Change -73.21% -68.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.464M $1.080M
YoY Change 35.51% -31.95%
Accrued Expenses $1.719M $667.4K
YoY Change 157.59% 923.33%
Deferred Revenue
YoY Change
Short-Term Debt $1.790M
YoY Change 1155.0%
Long-Term Debt Due $3.630M
YoY Change 68390.57%
Total Short-Term Liabilities $9.842M $7.258M
YoY Change 35.6% 303.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $0.00 $2.839K
YoY Change -100.0% -99.06%
Total Long-Term Liabilities $0.00 $2.839K
YoY Change -100.0% -99.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.842M $7.258M
Total Long-Term Liabilities $0.00 $2.839K
Total Liabilities $9.973M $7.513M
YoY Change 32.75% 64.11%
SHAREHOLDERS EQUITY
Retained Earnings -$33.81M -$26.62M
YoY Change 27.01% 41.38%
Common Stock $47.91K $39.97K
YoY Change 19.86% -0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.340M -$5.161M
YoY Change
Total Liabilities & Shareholders Equity $629.5K $2.350M
YoY Change -73.21% -68.27%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.807M -$1.778M
YoY Change 1.6% -42.46%
Depreciation, Depletion And Amortization $3.409K $7.774K
YoY Change -56.15% -498.67%
Cash From Operating Activities -$880.0K
YoY Change -0.01%
INVESTING ACTIVITIES
Capital Expenditures $20.00K
YoY Change -191.41%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$10.00K
YoY Change -54.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 900.0K
YoY Change 142.48%
NET CHANGE
Cash From Operating Activities -880.0K
Cash From Investing Activities -10.00K
Cash From Financing Activities 900.0K
Net Change In Cash 10.00K
YoY Change -101.88%
FREE CASH FLOW
Cash From Operating Activities -$880.0K
Capital Expenditures $20.00K
Free Cash Flow -$900.0K
YoY Change 4.87%

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us-gaap Repayments Of Lines Of Credit
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Nature Of Operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>1. Nature of operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">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>
dei Entity Incorporation Date Of Incorporation
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1990-02-26
us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Use of Estimates</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">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.</span></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; 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"><span style="font-family: Times New Roman, Times, Serif">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.</span></p>
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us-gaap Lessee Operating Lease Description
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The Company entered into a lease agreement commencing on July 1, 2023 through September 30, 2026 for 2,153 square feet of office space located at One Dupont Street, Suite 112, Plainview, New York, 11803.
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us-gaap Depreciation
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y3M
ohcs Share Based Compensation Reversal For Stock Cancellation
ShareBasedCompensationReversalForStockCancellation
2542206 usd
ohcs Share Based Compensation Reversal For Stock Cancellation
ShareBasedCompensationReversalForStockCancellation
861398 usd
CY2023Q3 ohcs Share Based Compensation Reversal For Stock Cancellation
ShareBasedCompensationReversalForStockCancellation
861398 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2435707 usd
ohcs Percentage Of Restricted Stock Vest
PercentageOfRestrictedStockVest
0.25 pure
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
399971 usd
us-gaap Recovery Of Direct Costs
RecoveryOfDirectCosts
389111 usd
CY2024Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
0 usd
CY2023Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
384690 usd
CY2023Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
384690 usd
CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
4421 usd
CY2023Q3 us-gaap Recovery Of Direct Costs
RecoveryOfDirectCosts
389111 usd
CY2024Q3 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
usd
CY2024Q3 us-gaap Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
usd
CY2024Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
usd
CY2024Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2023Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2024Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
usd
CY2023Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Stock Issued1
StockIssued1
usd
CY2024Q3 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001892025

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ea0221741-10q_optimus_htm.xml Edgar Link completed
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ohcs-20240930_def.xml Edgar Link unprocessable
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