2024 Q3 Form 10-K Financial Statement

#000143774924032155 Filed on October 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $1.413M $4.984M
YoY Change 17.51% 6.35%
Cost Of Revenue $308.2K $1.093M
YoY Change 16.23% -2.16%
Gross Profit $1.105M $3.891M
YoY Change 17.87% 9.02%
Gross Profit Margin 78.18% 78.07%
Selling, General & Admin $1.096M $2.038M
YoY Change 16.53% 12.78%
% of Gross Profit 99.2% 52.37%
Research & Development $30.10K
YoY Change -1.63%
% of Gross Profit 0.77%
Depreciation & Amortization $20.74K $81.70K
YoY Change 7.24% 54.69%
% of Gross Profit 1.88% 2.1%
Operating Expenses $1.096M $2.068M
YoY Change 16.53% 12.54%
Operating Profit $8.890K -$231.7K
YoY Change -382.22% 137.94%
Interest Expense $7.190K $24.64K
YoY Change 47.64% 108.46%
% of Operating Profit 80.88%
Other Income/Expense, Net $9.150K $60.42K
YoY Change 3.74% 88.78%
Pretax Income $25.24K -$171.3K
YoY Change 139.7% 162.0%
Income Tax -$12.74K $169.9K
% Of Pretax Income -50.48%
Net Earnings $37.98K -$341.1K
YoY Change 406.96% 578.95%
Net Earnings / Revenue 2.69% -6.84%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share $0.01 -$0.04
COMMON SHARES
Basic Shares Outstanding 8.120M 8.108M 8.120M
Diluted Shares Outstanding 8.120M

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $908.8K $908.8K
YoY Change -10.35% -10.35%
Cash & Equivalents $326.1K
Short-Term Investments $582.7K $582.7K
Other Short-Term Assets $434.2K $434.2K
YoY Change 45.46% 45.46%
Inventory $510.0K $510.0K
Prepaid Expenses
Receivables $512.9K $512.9K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.366M $2.366M
YoY Change 5.73% 5.73%
LONG-TERM ASSETS
Property, Plant & Equipment $262.0K $600.2K
YoY Change -6.76% -25.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $221.4K $221.4K
YoY Change -55.81% -55.81%
Total Long-Term Assets $838.5K $838.5K
YoY Change -36.77% -36.77%
TOTAL ASSETS
Total Short-Term Assets $2.366M $2.366M
Total Long-Term Assets $838.5K $838.5K
Total Assets $3.204M $3.204M
YoY Change -10.08% -10.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $160.9K $160.9K
YoY Change -8.07% -8.08%
Accrued Expenses $608.3K $608.3K
YoY Change 34.86% 34.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $769.2K $769.2K
YoY Change 22.86% 22.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $139.2K $139.2K
YoY Change -56.48% -56.48%
Total Long-Term Liabilities $147.9K $139.2K
YoY Change -53.77% -56.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $769.2K $769.2K
Total Long-Term Liabilities $147.9K $139.2K
Total Liabilities $917.1K $917.1K
YoY Change -3.05% -3.05%
SHAREHOLDERS EQUITY
Retained Earnings -$2.331M
YoY Change 17.15%
Common Stock $4.462M
YoY Change 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.287M $2.287M
YoY Change
Total Liabilities & Shareholders Equity $3.204M $3.204M
YoY Change -10.08% -10.08%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $37.98K -$341.1K
YoY Change 406.96% 578.95%
Depreciation, Depletion And Amortization $20.74K $81.70K
YoY Change 7.24% 54.69%
Cash From Operating Activities $2.640K -$61.25K
YoY Change -98.33% -142.11%
INVESTING ACTIVITIES
Capital Expenditures $1.620K $63.91K
YoY Change -98.95% -64.52%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.620K -$63.91K
YoY Change -98.93% -85.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 2.640K -$61.25K
Cash From Investing Activities -1.620K -$63.91K
Cash From Financing Activities 0.000 $0.00
Net Change In Cash 1.020K -$125.2K
YoY Change -99.2% -59.51%
FREE CASH FLOW
Cash From Operating Activities $2.640K -$61.25K
Capital Expenditures $1.620K $63.91K
Free Cash Flow $1.020K -$125.2K
YoY Change -72.21% 260.99%

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Use of Estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the 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. Actual results could differ from those estimates.</p>
CY2024 us-gaap Concentration Risk Credit Risk
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Concentration of Credit Risk</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company maintains its cash at various financial institutions. All accounts are fully insured by the Federal Deposit Insurance Corporation, up to $250,000 per Company. At June 30, 2024 and 2023, our uninsured cash balance was $105,107 and $0 respectively.</p>
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CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received
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14930 usd

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pcyn-20240630_def.xml Edgar Link unprocessable
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