$ONMD
OneMedNet Corp

2023 Q4 Form 10-Q Financial Statement

#000149315223042153 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $1.022M $680.0K $0.00
YoY Change
Cost Of Revenue $1.150M $293.0K
YoY Change
Gross Profit -$127.9K $33.00K
YoY Change
Gross Profit Margin -12.52% 4.85%
Selling, General & Admin $6.286M $2.890M $52.76K
YoY Change 11814.71% 5373.48% -67.83%
% of Gross Profit 8757.58%
Research & Development $1.632M $405.0K
YoY Change
% of Gross Profit 1227.27%
Depreciation & Amortization $7.980K $20.00K
YoY Change
% of Gross Profit 60.61%
Operating Expenses $6.689M $4.450M $3.385M
YoY Change 97.62% 755.72% 714.9%
Operating Profit -$6.817M -$1.927M
YoY Change 270.56%
Interest Expense -$1.852M -$1.170M $592.0K
YoY Change -412.78% -299.22% 2999.37%
% of Operating Profit
Other Income/Expense, Net -$3.335M -$40.00K $245.2K
YoY Change -1460.16% -64.86% -459.35%
Pretax Income -$22.51M -$4.990M -$2.547M
YoY Change 783.56% 10619.43% 448.44%
Income Tax -$210.0K $108.1K
% Of Pretax Income
Net Earnings -$22.30M -$1.691M -$2.656M
YoY Change 739.68% 1003.01% 471.72%
Net Earnings / Revenue -2182.53% -248.62%
Basic Earnings Per Share -$3.23
Diluted Earnings Per Share -$0.95 -$1.08 -$0.22
COMMON SHARES
Basic Shares Outstanding 32.26M shares 4.281M shares
Diluted Shares Outstanding 4.281M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.01K $600.0K $30.87K
YoY Change 52.28% 155.41% -93.19%
Cash & Equivalents $47.01K $611.8K $30.87K
Short-Term Investments
Other Short-Term Assets $165.5K $100.0K $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables $151.6K $86.39K $18.98K
Other Receivables $0.00 $2.060M $900.2K
Total Short-Term Assets $364.2K $2.846M $30.87K
YoY Change 1079.75% 1111.28% -94.24%
LONG-TERM ASSETS
Property, Plant & Equipment $98.87K $92.37K $83.10K
YoY Change 18.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $29.03M
YoY Change -75.26%
Other Assets
YoY Change
Total Long-Term Assets $98.87K $92.37K $29.03M
YoY Change -99.66% -99.92% -75.26%
TOTAL ASSETS
Total Short-Term Assets $364.2K $2.846M $30.87K
Total Long-Term Assets $98.87K $92.37K $29.03M
Total Assets $463.1K $2.938M $29.06M
YoY Change -98.41% -97.56% -75.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.184M $1.500M
YoY Change
Accrued Expenses $113.4K $1.750M
YoY Change -93.52% 1289.05%
Deferred Revenue
YoY Change
Short-Term Debt $1.589M $12.40M $11.50K
YoY Change 13715.13% 107726.09%
Long-Term Debt Due $44.67K $0.00
YoY Change
Total Short-Term Liabilities $12.83M $14.28M $1.976M
YoY Change 549.4% 882.47% 581.47%
LONG-TERM LIABILITIES
Long-Term Debt $465.0K $2.200M $2.753M
YoY Change -83.11% -15.38%
Other Long-Term Liabilities $24.58K $1.200M $4.388M
YoY Change -99.44% -74.1% -50.57%
Total Long-Term Liabilities $489.6K $3.400M $7.140M
YoY Change -93.14% -52.99% -19.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.83M $14.28M $1.976M
Total Long-Term Liabilities $489.6K $3.400M $7.140M
Total Liabilities $13.32M $17.68M $9.117M
YoY Change 46.14% 103.5% -0.55%
SHAREHOLDERS EQUITY
Retained Earnings -$55.08M -$36.83M -$11.63M
YoY Change 373.51% 335.84% 35.11%
Common Stock $2.357K $455.00 $455.00
YoY Change 418.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$12.86M -$14.74M -$8.806M
YoY Change
Total Liabilities & Shareholders Equity $463.1K $2.938M $29.06M
YoY Change -98.41% -97.56% -75.34%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$22.30M -$1.691M -$2.656M
YoY Change 739.68% 1003.01% 471.72%
Depreciation, Depletion And Amortization $7.980K $20.00K
YoY Change
Cash From Operating Activities $12.93M -$4.060M -$143.9K
YoY Change -9084.79% 1057.12% 78.65%
INVESTING ACTIVITIES
Capital Expenditures $13.76K $30.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$213.0K
YoY Change
Cash From Investing Activities -$13.76K $250.0K -$213.0K
YoY Change -93.54% -128.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.51M 4.180M 152.9K
YoY Change -8935.91% 186.01%
NET CHANGE
Cash From Operating Activities 12.93M -4.060M -143.9K
Cash From Investing Activities -13.76K 250.0K -213.0K
Cash From Financing Activities -13.51M 4.180M 152.9K
Net Change In Cash -594.7K 370.0K -204.0K
YoY Change 191.46% 62.68% 153.29%
FREE CASH FLOW
Cash From Operating Activities $12.93M -$4.060M -$143.9K
Capital Expenditures $13.76K $30.00K
Free Cash Flow $12.92M -$4.090M
YoY Change

Facts In Submission

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<p id="xdx_84D_eus-gaap--UseOfEstimates_z3pCvd35XpOi" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86E_z2dXfkF6niIg">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; font-size: 10pt"><b> </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; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.</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; font-size: 10pt"> </span></p>
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1031000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1031000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
168740 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
862260 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
862260 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
739424 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.00
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
739424 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
862260 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1031000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y3M25D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M9D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
739424 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
567581 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y10M20D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M21D
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20132 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
45584 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8591 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
75987 usd
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
174102 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.10
CY2023Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P3Y8M15D
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P3Y9M18D
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
852500 usd
CY2022 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1346288 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
575 usd
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5666 usd
CY2022 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7694 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
102700 usd
CY2023Q3 ONMT Accrued Interest Related Party
AccruedInterestRelatedParty
1193896 usd
CY2022Q4 ONMT Accrued Interest Related Party
AccruedInterestRelatedParty
690772 usd
CY2023Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
3875000 usd
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
5140000 usd
CY2023Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1550000 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2056000 shares
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6973587 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5604237 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
481144 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
467925 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
53268 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
51617 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7507999 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
6123778 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7507999 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6123778 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1384220 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
764878 usd

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