2023 Q2 Form 10-Q Financial Statement

#000149315223017552 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $512.0K $740.6K $480.0K
YoY Change 2.78% 54.29% -14.27%
Cost Of Revenue $256.6K $358.6K $314.4K
YoY Change -15.07% 14.08% 38.93%
Gross Profit $255.4K $382.0K $165.6K
YoY Change 30.31% 130.6% -50.35%
Gross Profit Margin 49.88% 51.58% 34.51%
Selling, General & Admin $1.056M $3.584M $970.4K
YoY Change 14.2% 269.36% -12.48%
% of Gross Profit 413.58% 938.31% 585.82%
Research & Development $280.4K $435.6K $281.6K
YoY Change 62.36% 54.71% -6.12%
% of Gross Profit 109.81% 114.05% 170.0%
Depreciation & Amortization $28.12K $28.11K $35.10K
YoY Change 3.73% -19.91% 29.09%
% of Gross Profit 11.01% 7.36% 21.19%
Operating Expenses $1.337M $4.020M $1.252M
YoY Change 21.78% 221.08% -11.13%
Operating Profit -$1.082M -$3.638M -$1.086M
YoY Change 19.95% 234.87% 1.04%
Interest Expense $5.880M $3.894M -$2.560M
YoY Change 220.31% -252.1% -46.4%
% of Operating Profit
Other Income/Expense, Net -$5.841M -$3.220M -$3.510K
YoY Change 189.93% 91640.43% 158.09%
Pretax Income -$6.923M -$6.858M -$4.240M
YoY Change 137.38% 61.75% -35.54%
Income Tax
% Of Pretax Income
Net Earnings -$6.923M -$6.858M -$4.240M
YoY Change 137.38% 61.75% -35.54%
Net Earnings / Revenue -1352.09% -925.98% -883.27%
Basic Earnings Per Share -$0.57 -$0.46 -$0.48
Diluted Earnings Per Share -$0.57 -$0.46 -$437.3K
COMMON SHARES
Basic Shares Outstanding 16.77M shares 15.87M shares 9.695M shares
Diluted Shares Outstanding 19.47M shares 15.84M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.98K $239.0K $118.8K
YoY Change -79.45% 101.2% 135.11%
Cash & Equivalents $24.98K $239.0K $118.8K
Short-Term Investments
Other Short-Term Assets $281.0K $257.6K $184.9K
YoY Change 23.12% 39.26% -31.92%
Inventory $553.7K $666.0K $1.361M
Prepaid Expenses
Receivables $189.0K $392.2K $291.9K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.049M $1.555M $1.956M
YoY Change -48.14% -20.52% 41.13%
LONG-TERM ASSETS
Property, Plant & Equipment $93.39K $99.87K $472.5K
YoY Change -8.26% -78.86% 114.06%
Goodwill
YoY Change
Intangibles $274.0K $295.7K
YoY Change -24.0%
Long-Term Investments $83.88K $71.70K $79.11K
YoY Change 38.41% -9.37% -80.66%
Other Assets
YoY Change
Total Long-Term Assets $627.1K $659.1K $933.9K
YoY Change -27.48% -29.43% -15.0%
TOTAL ASSETS
Total Short-Term Assets $1.049M $1.555M $1.956M
Total Long-Term Assets $627.1K $659.1K $933.9K
Total Assets $1.676M $2.214M $2.890M
YoY Change -41.95% -23.4% 16.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $912.2K $769.0K $665.2K
YoY Change 65.05% 15.59% -6.48%
Accrued Expenses $2.914M $2.788M $2.439M
YoY Change 15.03% 14.27% -7.74%
Deferred Revenue
YoY Change
Short-Term Debt $19.10M $19.56M $15.80M
YoY Change 8.55% 23.81% 38.01%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.54M $34.40M $27.25M
YoY Change -10.78% 26.23% 22.02%
LONG-TERM LIABILITIES
Long-Term Debt $163.2K $163.8K $150.0K
YoY Change 8.79% 9.23% -71.54%
Other Long-Term Liabilities $86.81K $97.20K $235.8K
YoY Change -57.23% -58.78% 56.06%
Total Long-Term Liabilities $250.0K $261.0K $385.8K
YoY Change -29.18% -32.34% -43.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.54M $34.40M $27.25M
Total Long-Term Liabilities $250.0K $261.0K $385.8K
Total Liabilities $26.79M $34.66M $27.64M
YoY Change -10.99% 25.42% 20.1%
SHAREHOLDERS EQUITY
Retained Earnings -$152.2M -$141.1M
YoY Change 22.73%
Common Stock $195.9K $180.6K
YoY Change 82.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$25.12M -$32.45M -$24.75M
YoY Change
Total Liabilities & Shareholders Equity $1.676M $2.214M $2.890M
YoY Change -41.95% -23.4% 16.31%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$6.923M -$6.858M -$4.240M
YoY Change 137.38% 61.75% -35.54%
Depreciation, Depletion And Amortization $28.12K $28.11K $35.10K
YoY Change 3.73% -19.91% 29.09%
Cash From Operating Activities -$899.2K -$422.2K -$756.3K
YoY Change -27.6% -44.17% -38.86%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $3.000K -$1.140K
YoY Change -100.0% -363.16% -71.21%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$3.000K -$1.140K
YoY Change -100.0% 163.16% -71.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 685.1K $660.4K 743.9K
YoY Change -45.12% -11.23% -41.56%
NET CHANGE
Cash From Operating Activities -899.2K -$422.2K -756.3K
Cash From Investing Activities 0.000 -$3.000K -1.140K
Cash From Financing Activities 685.1K $660.4K 743.9K
Net Change In Cash -214.1K $235.2K -13.51K
YoY Change -7827.44% -1840.62% -142.23%
FREE CASH FLOW
Cash From Operating Activities -$899.2K -$422.2K -$756.3K
Capital Expenditures $0.00 $3.000K -$1.140K
Free Cash Flow -$899.2K -$425.2K -$755.1K
YoY Change -27.38% -43.69% -38.76%

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IncreaseDecreaseInAccountsPayable
137304 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
101299 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
52532 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-127014 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-26559 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
693653 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
637164 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-422211 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-756282 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1135 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1135 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
100000 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
81111 usd
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2520000 usd
CY2022Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
806000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
654681 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
351150 usd
CY2023Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
88200 usd
CY2022Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
195250 usd
CY2023Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1628474 usd
CY2022Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
324350 usd
CY2023Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
99000 usd
CY2023Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
1056149 usd
CY2022Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
284141 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
660369 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
743909 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
235158 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13508 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3865 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
132311 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
239023 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
118803 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
534872 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
120436 usd
CY2022Q1 PBIO Early Asu202006 Adoption
EarlyAsu202006Adoption
473027 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
1087751 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
142480 usd
CY2022Q1 PBIO Discount From Warrants Issued With Debt
DiscountFromWarrantsIssuedWithDebt
87436 usd
CY2023Q1 PBIO Common Stock Issued In Lieu Of Cash For Dividend
CommonStockIssuedInLieuOfCashForDividend
102435 usd
CY2022Q1 PBIO Common Stock Issued In Lieu Of Cash For Dividend
CommonStockIssuedInLieuOfCashForDividend
64256 usd
CY2023Q1 PBIO Noncash Preferred Stock Dividends
NoncashPreferredStockDividends
431807 usd
CY2022Q1 PBIO Noncash Preferred Stock Dividends
NoncashPreferredStockDividends
432149 usd
CY2023Q1 PBIO Conversion Of Preferred Stock For Common Stock
ConversionOfPreferredStockForCommonStock
4935 usd
CY2023Q1 PBIO Conversion Of Debt Into Common Stock
ConversionOfDebtIntoCommonStock
509033 usd
CY2022Q1 PBIO Conversion Of Debt Into Common Stock
ConversionOfDebtIntoCommonStock
350500 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-22208961 usd
CY2022Q1 PBIO Cumulative Effect Period Of Adoption Adjustment
CumulativeEffectPeriodOfAdoptionAdjustment
-473027 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
64483 usd
CY2022Q1 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
432149 usd
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
77700 usd
CY2022Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
39761 usd
CY2022Q1 PBIO Warrants Issued For Debt Extension
WarrantsIssuedForDebtExtension
132537 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
472900 usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
350500 usd
CY2022Q1 PBIO Issuance Of Common Stock For Dividends Paidinkind
IssuanceOfCommonStockForDividendsPaidinkind
64256 usd
CY2022Q1 PBIO Issuance Of Common Stock For Interest Paidinkind
IssuanceOfCommonStockForInterestPaidinkind
1173458 usd
CY2022Q1 PBIO Stock Issued With Debt
StockIssuedWithDebt
142480 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
87436 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-4239685 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-24748311 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-32686371 usd
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
81111 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1430244 usd
CY2023Q1 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
431807 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1419335 usd
CY2023Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
61609 usd
CY2023Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
509033 usd
CY2023Q1 PBIO Issuance Of Common Stock For Dividends Paidinkind
IssuanceOfCommonStockForDividendsPaidinkind
102435 usd
CY2023Q1 PBIO Issuance Of Common Stock For Interest Paidinkind
IssuanceOfCommonStockForInterestPaidinkind
1705234 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1029939 usd
CY2023Q1 PBIO Stock Issued With Debt
StockIssuedWithDebt
1087751 usd
CY2023Q1 PBIO Sale Of Common Stock For Cash
SaleOfCommonStockForCash
100000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-6857834 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-32449321 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zmBX6VEKaeia" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zpLUsnGwJHxi">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgements and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Global concerns about the COVID-19 pandemic have adversely affected, and we expect will continue to adversely affect, our business, financial condition and results of operations including the estimates and assumptions made by management. Significant estimates and assumptions include valuations of share-based awards, investments in equity securities and intangible asset impairment. Actual results could differ from the estimates, and such differences may be material to the Company’s consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2020Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2728243 usd
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2255216 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
741000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
480000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
741000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
480000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
741000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
480000 usd
CY2023Q1 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
AccountsReceivableBilledForLongTermContractsOrPrograms
392000 usd
CY2022Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
AccountsReceivableBilledForLongTermContractsOrPrograms
295000 usd
CY2023Q1 us-gaap Deferred Revenue
DeferredRevenue
483000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
60000 usd
CY2023Q1 PBIO Extended Warranty Service
ExtendedWarrantyService
65000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_z6x9vgwp1mhc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86E_z1ynmyEHP7h9">Concentrations</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Credit Risk</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash, cash equivalents, and trade receivables. We have cash investment policies which, among other things, limit investments to investment-grade securities. We perform ongoing credit evaluations of our customers, and the risk with respect to trade receivables is further mitigated by the fact that many of our customers are government institutions, large pharmaceutical and biotechnology companies, and academic laboratories.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--FairValueConcentrationOfRiskTextBlock_zDpkuZIhMbyh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table illustrates the level of concentration as a percentage of total revenues during the three months ended March 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B3_z21QrO0Rux7e" style="display: none">Schedule of Customer Concentration Risk Percentage</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="text-align: center">For the Three Months Ended</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Top Five Customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__srt--MajorCustomersAxis__custom--TopFiveCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zMRjk5gXRkm3" style="width: 20%; text-align: right" title="Concentration credit risk percentage">64</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__srt--MajorCustomersAxis__custom--TopFiveCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z71krVwStRod" style="width: 20%; text-align: right" title="Concentration credit risk percentage">73</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Federal Agencies</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__srt--MajorCustomersAxis__custom--FederalAgenciesMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zqcMyTwvKyY5" style="text-align: right" title="Concentration credit risk percentage">1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__srt--MajorCustomersAxis__custom--FederalAgenciesMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9C7jdP65o25" style="text-align: right" title="Concentration credit risk percentage">0</td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table illustrates the level of concentration as a percentage of net accounts receivable balance as of March 31, 2023 and December 31, 2022. The Top Five Customers category may include federal agency receivable balances if applicable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Top Five Customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__srt--MajorCustomersAxis__custom--TopFiveCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zIzfjupewK4b" style="width: 20%; text-align: right" title="Concentration credit risk percentage">92</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__srt--MajorCustomersAxis__custom--TopFiveCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zdFKTlVMk9Lh" style="width: 20%; text-align: right" title="Concentration credit risk percentage">93</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Federal Agencies</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__srt--MajorCustomersAxis__custom--FederalAgenciesMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zNSJa4SHTDo2" style="text-align: right" title="Concentration credit risk percentage">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__srt--MajorCustomersAxis__custom--FederalAgenciesMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zfdW6axyfJ3f" style="text-align: right" title="Concentration credit risk percentage">0</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A5_zKMU3ePYb8i9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7289641 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4671834 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15839373 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9695189 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.46
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35909806 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32475868 shares
CY2023Q1 PBIO Forfeiture Rate
ForfeitureRate
0.05 pure
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1430244 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
64483 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1430244 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
64483 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
71699 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
63638 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
149300 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
64393 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
66969 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
51777 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
332439 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
177358 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
155081 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
90279 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
26559 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M2D
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
191816 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
282095 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
65029 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
142171 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
90052 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
139924 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
155081 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
282095 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2023Q1 us-gaap Debt Conversion Original Debt Interest Rate Of Debt
DebtConversionOriginalDebtInterestRateOfDebt
0.35 pure
CY2023Q1 PBIO Convertible Lesser Per Share
ConvertibleLesserPerShare
2.50
CY2023Q1 PBIO Convertible Lesser Discount Percent
ConvertibleLesserDiscountPercent
0.25 pure
CY2023Q1 us-gaap Debt Instrument Convertible Threshold Trading Days
DebtInstrumentConvertibleThresholdTradingDays
5 integer
CY2023Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
1834538 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
37810 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
37810 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
20850 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
20850 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
58660 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
58660 usd
CY2023Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
535250 usd
CY2023Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1628474 usd
CY2023Q1 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
July, 2020 to March, 2024
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
14000000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
19414704 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
18279186 usd
CY2023Q1 PBIO Debt Discount
DebtDiscount
1673288 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
455517 usd
CY2023Q1 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
17741416 usd
CY2022Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
17823669 usd
CY2023Q1 us-gaap Debt Instrument Convertible Stock Price Trigger
DebtInstrumentConvertibleStockPriceTrigger
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 PBIO Debt Default Convertible Conversion Ratio
DebtDefaultConvertibleConversionRatio
0.75 pure
CY2023Q1 us-gaap Debt Instrument Convertible Stock Price Trigger
DebtInstrumentConvertibleStockPriceTrigger
2.50
CY2023Q1 PBIO Debt Default Convertible Conversion Ratio
DebtDefaultConvertibleConversionRatio
0.75 pure
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price Increase
DebtInstrumentConvertibleConversionPriceIncrease
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price Increase
DebtInstrumentConvertibleConversionPriceIncrease
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price Decrease
DebtInstrumentConvertibleConversionPriceDecrease
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price Increase
DebtInstrumentConvertibleConversionPriceIncrease
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
1 usd
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.50
CY2023Q1 PBIO Percentage Of Price Rate
PercentageOfPriceRate
0.10 pure
CY2023Q1 PBIO Convertible Lesser Per Share
ConvertibleLesserPerShare
2.5
CY2023Q1 PBIO Convertible Lesser Discount Percent
ConvertibleLesserDiscountPercent
0.25 pure
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
1788969 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
485672 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
163838 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
150000 usd
CY2023Q1 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
1185028 usd
CY2022Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
1638969 usd
CY2023Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-05-02
CY2023Q1 PBIO Non Convertible Debt Instrument Amount
NonConvertibleDebtInstrumentAmount
866308 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
150000 usd
CY2023Q1 PBIO Accrued Interest Rate Percent
AccruedInterestRatePercent
0.0375 pure
CY2023Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
731 usd
CY2023Q1 PBIO Deferred Interest
DeferredInterest
14719 usd
CY2023Q1 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
880 usd
CY2023Q1 us-gaap Convertible Preferred Stock Nonredeemable Or Redeemable Issuer Option Value
ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue
86 usd
CY2022Q4 us-gaap Convertible Preferred Stock Nonredeemable Or Redeemable Issuer Option Value
ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue
1098 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17586591 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
17570591 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2330484 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
117552 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
161668 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
19637855 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
18538573 shares

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