2024 Q2 Form 10-Q Financial Statement

#000149315224049637 Filed on December 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $227.0K $0.00
YoY Change
Cost Of Revenue $329.0K $230.0K
YoY Change 43.04%
Gross Profit -$102.0K -$57.00K
YoY Change 78.95%
Gross Profit Margin -44.93%
Selling, General & Admin $1.969M $40.00K
YoY Change 4822.5% -20.0%
% of Gross Profit
Research & Development $383.0K $579.0K
YoY Change -33.85%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.352M $290.0K
YoY Change 711.03% -63.5%
Operating Profit -$2.454M -$285.5K
YoY Change 759.68% -64.07%
Interest Expense $15.00K $340.0K
YoY Change -95.59% 127.65%
% of Operating Profit
Other Income/Expense, Net -$1.135M $0.00
YoY Change
Pretax Income $57.55K
YoY Change -93.94%
Income Tax $62.71K
% Of Pretax Income 108.96%
Net Earnings -$3.600M -$5.158K
YoY Change 69694.49% -100.54%
Net Earnings / Revenue -1585.9%
Basic Earnings Per Share -$0.15 -$2.38
Diluted Earnings Per Share -$0.15 $0.00
COMMON SHARES
Basic Shares Outstanding 23.85M shares 4.033M shares
Diluted Shares Outstanding 23.94M shares 4.033M shares

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $407.0K $3.438K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $75.00K
Other Receivables
Total Short-Term Assets $956.0K $3.438K
YoY Change 27706.86% -54.04%
LONG-TERM ASSETS
Property, Plant & Equipment $85.00K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00M
YoY Change -74.72%
Other Assets
YoY Change
Total Long-Term Assets $85.00K $29.98M
YoY Change -99.72% -74.74%
TOTAL ASSETS
Total Short-Term Assets $956.0K $3.438K
Total Long-Term Assets $85.00K $29.98M
Total Assets $1.041M $29.98M
YoY Change -96.53% -74.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $2.000M
YoY Change 87.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.05M $2.091M
YoY Change 858.77% 79.32%
LONG-TERM LIABILITIES
Long-Term Debt $3.700M
YoY Change 221.74%
Other Long-Term Liabilities $22.00K $3.283M
YoY Change -99.33% -27.34%
Total Long-Term Liabilities $22.00K $3.283M
YoY Change -99.33% -42.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.05M $2.091M
Total Long-Term Liabilities $22.00K $3.283M
Total Liabilities $20.23M $10.13M
YoY Change 99.69% 48.2%
SHAREHOLDERS EQUITY
Retained Earnings -$97.10M -$11.72M
YoY Change 728.22% 77.25%
Common Stock $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$19.19M -$10.09M
YoY Change
Total Liabilities & Shareholders Equity $1.041M $29.98M
YoY Change -96.53% -74.74%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$3.600M -$5.158K
YoY Change 69694.49% -100.54%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$600.0K
YoY Change 295.65%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $90.00K
YoY Change -107.83%
Cash From Investing Activities $90.00K
YoY Change -107.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 500.0K
YoY Change -56.52%
NET CHANGE
Cash From Operating Activities -600.0K
Cash From Investing Activities 90.00K
Cash From Financing Activities 500.0K
Net Change In Cash -10.00K
YoY Change -93.41%
FREE CASH FLOW
Cash From Operating Activities -$600.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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ONMD Issuance Of Common Stock To Settle Deferred Underwriter Fee Payable
IssuanceOfCommonStockToSettleDeferredUnderwriterFeePayable
242000 usd
ONMD Consideration For Repurchase Of Common Stock Included In Accounts Payable And Accrued Expenses
ConsiderationForRepurchaseOfCommonStockIncludedInAccountsPayableAndAccruedExpenses
-529000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5700000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-97100000 usd
CY2024Q2 us-gaap Cash
Cash
400000 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Debt Instrument Term
DebtInstrumentTerm
P1Y
CY2024Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
4500000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
50000 shares
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.20
CY2024Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
50000 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.20
ONMD Stock Warrant Expense
StockWarrantExpense
33000 usd
CY2024Q2 ONMD Yorkville Notes Payable Current
YorkvilleNotesPayableCurrent
2200000 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000 usd
CY2023Q4 us-gaap Business Combination Cost Of Acquired Entity Equity Interests Issued And Issuable Fair Value Method
BusinessCombinationCostOfAcquiredEntityEquityInterestsIssuedAndIssuableFairValueMethod
the Company was obligated to compensate EF Hutton at a new share price equal to the difference in amount on such date. Due to the decrease in share value on the six-month anniversary, the Company was required to either pay to EF Hutton an additional $2.8 million or issue to EF Hutton an additional 3,175,000 shares of Common Stock.
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
277778 shares
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
200000 usd
us-gaap Business Combination Cost Of Acquired Entity Equity Interests Issued And Issuable Fair Value Method
BusinessCombinationCostOfAcquiredEntityEquityInterestsIssuedAndIssuableFairValueMethod
the Company was obligated to pay to EF Hutton the true-up of either $2.8 million or 3,175,000 shares of Common Stock valued at $0.88 per share, plus the $0.5 million promissory note. Upon the occurrence of an event of default, the promissory note bears interest at a rate of 12.5% until such event of default is cured.
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2024-03-01
CY2024Q2 us-gaap Interest Expense
InterestExpense
15000 usd
us-gaap Interest Expense
InterestExpense
25000 usd
CY2024Q2 ONMD Stockholders Deficit Description
StockholdersDeficitDescription
An Advance may not exceed the greater of (i) 100% of the average of the daily trading volume of the Common Stock on Nasdaq, during the five consecutive trading days immediately preceding the date of the Advance, and (ii) five hundred thousand (500,000) shares of Common Stock.
CY2024Q2 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
500000 usd
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
500000 usd
CY2024Q2 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Net
EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet
200000 usd
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14874777 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15102501 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
103000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
280000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
240000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
648000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12181019 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12181019 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12181019 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12181019 shares
CY2024Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
4025000 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1660000 usd
us-gaap Proceeds From Loans
ProceedsFromLoans
400000 usd
CY2024Q2 us-gaap Other Long Term Debt
OtherLongTermDebt
100000 usd
CY2024Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.080 pure
us-gaap Debt Instrument Term
DebtInstrumentTerm
P1Y
CY2024Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
754000 usd
CY2023Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
454000 usd
CY2024Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
1600000 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
38000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
11000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
2392000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
465000 usd
CY2024Q2 us-gaap Share Price
SharePrice
10.00
us-gaap Lease Cost
LeaseCost
530 usd
CY2024Q2 us-gaap Payments For Rent
PaymentsForRent
2000 usd
CY2023Q2 us-gaap Payments For Rent
PaymentsForRent
2000 usd
us-gaap Payments For Rent
PaymentsForRent
4000 usd
us-gaap Payments For Rent
PaymentsForRent
4000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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