2022 Q2 Form 10-K Financial Statement
#000149315222019173 Filed on July 13, 2022
Income Statement
| Concept | 2022 Q2 | 2022 | 2021 Q2 |
|---|---|---|---|
| Revenue | $756.0K | $1.759M | $602.0K |
| YoY Change | 25.58% | 45.85% | 9.45% |
| Cost Of Revenue | $540.0K | $1.860M | $1.031M |
| YoY Change | -47.62% | -18.39% | 129.11% |
| Gross Profit | $216.0K | -$101.0K | -$429.0K |
| YoY Change | -150.35% | -90.59% | -529.0% |
| Gross Profit Margin | 28.57% | -5.74% | -71.26% |
| Selling, General & Admin | $2.181M | ||
| YoY Change | 69.07% | ||
| % of Gross Profit | |||
| Research & Development | $1.413M | ||
| YoY Change | 50.32% | ||
| % of Gross Profit | |||
| Depreciation & Amortization | $108.0K | $230.0K | $39.00K |
| YoY Change | 176.92% | 54.36% | -139.0% |
| % of Gross Profit | 50.0% | ||
| Operating Expenses | $6.061M | $21.51M | $3.594M |
| YoY Change | 68.64% | 71.83% | 61.17% |
| Operating Profit | -$5.845M | -$21.61M | -$4.023M |
| YoY Change | 45.29% | 59.01% | 88.87% |
| Interest Expense | $67.00K | $123.0K | $81.00K |
| YoY Change | -17.28% | -11.51% | 305.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $0.00 | $60.00K | -$34.00K |
| YoY Change | -100.0% | -172.29% | |
| Pretax Income | -$5.935M | -$20.70M | -$5.200M |
| YoY Change | 14.13% | 40.22% | 146.45% |
| Income Tax | -$782.0K | -$1.823M | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$5.153M | -$18.87M | -$5.200M |
| YoY Change | -0.9% | 27.87% | 326.23% |
| Net Earnings / Revenue | -681.61% | -1073.0% | -863.79% |
| Basic Earnings Per Share | -$0.35 | ||
| Diluted Earnings Per Share | -$102.8K | -$349.5K | -$102.8K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 54.01B shares | ||
| Diluted Shares Outstanding | 54.01B shares |
Balance Sheet
| Concept | 2022 Q2 | 2022 | 2021 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $57.27M | $57.27M | $83.03M |
| YoY Change | -31.02% | -31.02% | 730.28% |
| Cash & Equivalents | $7.885M | $7.885M | $83.03M |
| Short-Term Investments | $49.38M | $49.38M | |
| Other Short-Term Assets | $725.0K | $725.0K | $871.0K |
| YoY Change | -16.76% | -16.76% | -33.0% |
| Inventory | $442.0K | $442.0K | |
| Prepaid Expenses | |||
| Receivables | $868.0K | $868.0K | $540.0K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $59.30M | $59.30M | $84.44M |
| YoY Change | -29.77% | -29.77% | 621.7% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.197M | $1.197M | $1.442M |
| YoY Change | -16.99% | -16.99% | -15.18% |
| Goodwill | $8.537M | ||
| YoY Change | |||
| Intangibles | $4.136M | ||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $219.0K | $219.0K | $222.0K |
| YoY Change | -1.35% | -1.35% | 11.0% |
| Total Long-Term Assets | $14.09M | $14.09M | $1.938M |
| YoY Change | 626.99% | 626.99% | 7.67% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $59.30M | $59.30M | $84.44M |
| Total Long-Term Assets | $14.09M | $14.09M | $1.938M |
| Total Assets | $73.39M | $73.39M | $86.38M |
| YoY Change | -15.03% | -15.03% | 539.83% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $905.0K | $905.0K | $687.0K |
| YoY Change | 31.73% | 31.73% | 243.5% |
| Accrued Expenses | $877.0K | $877.0K | $2.376M |
| YoY Change | -63.09% | -63.09% | 48.5% |
| Deferred Revenue | $129.0K | ||
| YoY Change | |||
| Short-Term Debt | $319.0K | $319.0K | $347.0K |
| YoY Change | -8.07% | -8.07% | |
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $2.978M | $2.978M | $4.694M |
| YoY Change | -36.56% | -36.56% | 147.05% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $396.0K | |
| YoY Change | -100.0% | ||
| Other Long-Term Liabilities | $1.381M | $1.381M | $819.0K |
| YoY Change | 68.62% | 68.62% | -25.55% |
| Total Long-Term Liabilities | $0.00 | $1.381M | $1.215M |
| YoY Change | -100.0% | 13.66% | 10.45% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.978M | $2.978M | $4.694M |
| Total Long-Term Liabilities | $0.00 | $1.381M | $1.215M |
| Total Liabilities | $4.562M | $4.562M | $5.909M |
| YoY Change | -22.8% | -22.8% | 96.97% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$253.8M | ||
| YoY Change | |||
| Common Stock | $56.00K | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $341.0K | ||
| YoY Change | |||
| Treasury Stock Shares | 23.35K shares | ||
| Shareholders Equity | $68.83M | $68.83M | $80.47M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $73.39M | $73.39M | $86.38M |
| YoY Change | -15.03% | -15.03% | 539.83% |
Cashflow Statement
| Concept | 2022 Q2 | 2022 | 2021 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$5.153M | -$18.87M | -$5.200M |
| YoY Change | -0.9% | 27.87% | 326.23% |
| Depreciation, Depletion And Amortization | $108.0K | $230.0K | $39.00K |
| YoY Change | 176.92% | 54.36% | -139.0% |
| Cash From Operating Activities | -$5.509M | -$21.30M | -$3.144M |
| YoY Change | 75.22% | 82.42% | 61.23% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $174.0K | -$145.0K | -$6.000K |
| YoY Change | -3000.0% | 457.69% | -40.0% |
| Acquisitions | $4.444M | ||
| YoY Change | |||
| Other Investing Activities | -$50.34M | -$53.89M | $100.0K |
| YoY Change | -50442.0% | -53986.0% | |
| Cash From Investing Activities | -$50.17M | -$54.03M | $94.00K |
| YoY Change | -53470.21% | -73114.86% | -1040.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $0.00 | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -3.000K | 87.00K | 6.180M |
| YoY Change | -100.05% | -99.9% | 194.29% |
| NET CHANGE | |||
| Cash From Operating Activities | -5.509M | -21.30M | -3.144M |
| Cash From Investing Activities | -50.17M | -54.03M | 94.00K |
| Cash From Financing Activities | -3.000K | 87.00K | 6.180M |
| Net Change In Cash | -55.68M | -75.24M | 3.130M |
| YoY Change | -1878.91% | -203.68% | 2135.71% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$5.509M | -$21.30M | -$3.144M |
| Capital Expenditures | $174.0K | -$145.0K | -$6.000K |
| Free Cash Flow | -$5.683M | -$21.15M | -$3.138M |
| YoY Change | 81.1% | 81.58% | 61.75% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021 | OPTT |
Amortization Of Premiums Investments
AmortizationOfPremiumsInvestments
|
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| CY2021 | us-gaap |
Gains Losses On Extinguishment Of Debt
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| CY2021 | OPTT |
Loss On Liquidation Of Subsidiary
LossOnLiquidationOfSubsidiary
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| CY2021 | OPTT |
Deferred Tax Liabilities Net
DeferredTaxLiabilitiesNet
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| CY2022Q2 | us-gaap |
Long Term Debt Current
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| CY2021Q2 | us-gaap |
Deferred Income Tax Liabilities Net
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| CY2021Q2 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
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Long Term Debt Noncurrent
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Commitments And Contingencies
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Commitments And Contingencies
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Other Nonoperating Income
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Gains Losses On Extinguishment Of Debt
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|
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| CY2021 | OPTT |
Loss On Liquidation Of Subsidiary
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|
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| CY2022 | us-gaap |
Other Nonoperating Expense
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|
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Income Tax Expense Benefit
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Short Term Investments
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Inventory Net
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Goodwill
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Litigation Reserve Current
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|
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Other Liabilities Current
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|
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| CY2022 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
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|
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| CY2021 | us-gaap |
Increase Decrease In Inventories
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Cash Acquired From Acquisition
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Proceeds From Paycheck Protection Program Loan
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| CY2022 | us-gaap |
Proceeds From Construction Loans Payable
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|
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| CY2022 | us-gaap |
Repayments Of Construction Loans Payable
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|
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| CY2022 | OPTT |
Payment Of Payroll Taxes Related To Stock Option Exercises
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| CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
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Proceeds From Issuance Initial Public Offering
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Contingent Liability
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Contract With Customer Asset Net Recognized
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Contract Liabilities Obtained In Acquisition
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Payments Collected For Which Revenue Has Not Been Recognized
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Prepaid Recruiting And Hr
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Deposits Assets Current
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Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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Effective Income Tax Rate Continuing Operations
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Deferred Tax Asset Net
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Deferred Tax Assets Liabilities Net
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Proceeds From Warrant Exercises
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Acquisition Of Property Plant And Equipment Through Accounts Payable
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