2022 Q1 Form 10-K Financial Statement
#000149315222017738 Filed on June 24, 2022
Income Statement
| Concept | 2022 Q1 | 2022 | 2021 Q1 |
|---|---|---|---|
| Revenue | $55.46K | $115.6K | $5.280K |
| YoY Change | 950.38% | 818.84% | 70.87% |
| Cost Of Revenue | $97.11K | $201.2K | $10.35K |
| YoY Change | 838.26% | 1779.91% | -24.56% |
| Gross Profit | -$41.65K | -$85.56K | -$5.070K |
| YoY Change | 721.5% | -4651.06% | -52.3% |
| Gross Profit Margin | -75.1% | -74.02% | -96.02% |
| Selling, General & Admin | $1.548M | $4.496M | $336.9K |
| YoY Change | 359.49% | 141.38% | -8.62% |
| % of Gross Profit | |||
| Research & Development | $187.2K | $474.9K | $67.97K |
| YoY Change | 175.47% | 383.44% | 8727.27% |
| % of Gross Profit | |||
| Depreciation & Amortization | $21.98K | $65.15K | $13.65K |
| YoY Change | 61.03% | -24.86% | -90.01% |
| % of Gross Profit | |||
| Operating Expenses | $1.735M | $4.971M | $307.9K |
| YoY Change | 463.64% | 153.51% | -39.17% |
| Operating Profit | -$1.777M | -$5.057M | -$312.9K |
| YoY Change | 467.82% | 158.12% | -39.44% |
| Interest Expense | $240.00 | $9.850K | -$9.060K |
| YoY Change | -102.65% | -100.51% | 8.76% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $41.53K | ||
| YoY Change | |||
| Pretax Income | -$1.777M | -$5.015M | -$323.0K |
| YoY Change | 450.05% | 42.36% | -36.85% |
| Income Tax | $0.00 | $0.00 | |
| % Of Pretax Income | |||
| Net Earnings | -$1.777M | -$5.015M | -$323.0K |
| YoY Change | 450.05% | 42.36% | -36.85% |
| Net Earnings / Revenue | -3203.68% | -4338.61% | -6117.8% |
| Basic Earnings Per Share | -$0.57 | ||
| Diluted Earnings Per Share | -$182.0K | -$572.4K | -$47.67K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 8.761M shares | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q1 | 2022 | 2021 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $6.107M | $6.107M | $23.58K |
| YoY Change | 25798.35% | 25798.35% | 886.61% |
| Cash & Equivalents | $6.107M | $6.107M | $23.58K |
| Short-Term Investments | |||
| Other Short-Term Assets | $547.7K | $547.7K | $123.6K |
| YoY Change | 343.16% | 343.16% | -12.79% |
| Inventory | $98.31K | $98.31K | |
| Prepaid Expenses | |||
| Receivables | $2.596K | $2.600K | |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $6.755M | $6.755M | $147.2K |
| YoY Change | 4490.83% | 4490.83% | -25.35% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $311.5K | $610.7K | $371.8K |
| YoY Change | -16.21% | 64.24% | 43.77% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $12.83K | $12.83K | $8.200K |
| YoY Change | 56.46% | 56.46% | 0.0% |
| Other Assets | $0.00 | $0.00 | $280.2K |
| YoY Change | -100.0% | -100.0% | |
| Total Long-Term Assets | $671.9K | $671.9K | $688.1K |
| YoY Change | -2.35% | -2.35% | 111.46% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $6.755M | $6.755M | $147.2K |
| Total Long-Term Assets | $671.9K | $671.9K | $688.1K |
| Total Assets | $7.427M | $7.427M | $835.3K |
| YoY Change | 789.23% | 789.23% | 59.85% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $323.4K | $323.4K | $962.9K |
| YoY Change | -66.42% | -66.42% | 21.26% |
| Accrued Expenses | $784.4K | $843.6K | $63.39K |
| YoY Change | 1137.38% | 1230.73% | -77.15% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $6.550K | $39.53K | |
| YoY Change | -83.43% | 161.79% | |
| Long-Term Debt Due | $0.00 | $0.00 | $339.3K |
| YoY Change | -100.0% | -100.0% | 453.79% |
| Total Short-Term Liabilities | $1.173M | $1.173M | $1.405M |
| YoY Change | -16.48% | -16.48% | 22.41% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $27.20K | $27.20K | $196.0K |
| YoY Change | -86.12% | -86.12% | -31.7% |
| Other Long-Term Liabilities | $239.9K | $239.9K | $131.2K |
| YoY Change | 82.89% | 82.89% | 5.88% |
| Total Long-Term Liabilities | $267.1K | $267.1K | $327.2K |
| YoY Change | -18.36% | -18.36% | -20.37% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.173M | $1.173M | $1.405M |
| Total Long-Term Liabilities | $267.1K | $267.1K | $327.2K |
| Total Liabilities | $1.441M | $1.441M | $1.732M |
| YoY Change | -16.83% | -16.83% | 11.13% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$63.13M | ||
| YoY Change | |||
| Common Stock | $9.988K | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $5.987M | $5.987M | -$897.0K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $7.427M | $7.427M | $835.3K |
| YoY Change | 789.23% | 789.23% | 59.85% |
Cashflow Statement
| Concept | 2022 Q1 | 2022 | 2021 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$1.777M | -$5.015M | -$323.0K |
| YoY Change | 450.05% | 42.36% | -36.85% |
| Depreciation, Depletion And Amortization | $21.98K | $65.15K | $13.65K |
| YoY Change | 61.03% | -24.86% | -90.01% |
| Cash From Operating Activities | -$1.369M | -$4.175M | $9.680K |
| YoY Change | -14247.52% | 444.2% | -111.67% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$72.12K | -$183.2K | -$1.920K |
| YoY Change | 3656.25% | 14.37% | -93.68% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$72.12K | -$183.2K | -$2.400K |
| YoY Change | 2905.0% | 14.37% | -85.74% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -5.310K | 10.44M | -214.7K |
| YoY Change | -97.53% | 1010.4% | -5310.19% |
| NET CHANGE | |||
| Cash From Operating Activities | -1.369M | -4.175M | 9.680K |
| Cash From Investing Activities | -72.12K | -183.2K | -2.400K |
| Cash From Financing Activities | -5.310K | 10.44M | -214.7K |
| Net Change In Cash | -1.447M | 6.083M | -207.4K |
| YoY Change | 597.71% | 46694.23% | 116.79% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$1.369M | -$4.175M | $9.680K |
| Capital Expenditures | -$72.12K | -$183.2K | -$1.920K |
| Free Cash Flow | -$1.297M | -$3.992M | $11.60K |
| YoY Change | -11284.14% | 557.61% | -122.06% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
USD | |
| CY2021Q1 | us-gaap |
Inventory Net
InventoryNet
|
USD | |
| CY2022Q1 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
USD | |
| CY2022Q1 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
USD | |
| CY2022Q1 | PETV |
Accrued Expenses Related Parties Current
AccruedExpensesRelatedPartiesCurrent
|
USD | |
| CY2022Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
USD | |
| CY2022Q1 | PETV |
Notes Payable And Accrued Interest Directors Current
NotesPayableAndAccruedInterestDirectorsCurrent
|
USD | |
| CY2022Q1 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
USD | |
| CY2021Q1 | PETV |
Notes Payable And Accrued Interest Non Current
NotesPayableAndAccruedInterestNonCurrent
|
USD | |
| CY2022Q1 | PETV |
Sharesettled Debt Obligation Related Party Net Of Debt Discount Non Current
SharesettledDebtObligationRelatedPartyNetOfDebtDiscountNonCurrent
|
USD | |
| CY2022Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2021Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2021 | PETV |
Forgiveness Of Loan And Accrued Interest
ForgivenessOfLoanAndAccruedInterest
|
USD | |
| CY2022 | PETV |
Derivative Expenses
DerivativeExpenses
|
USD | |
| CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2022 | PETV |
Stock Issued During Period Value Warrants Exercises
StockIssuedDuringPeriodValueWarrantsExercises
|
USD | |
| CY2022 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
USD | |
| CY2021 | PETV |
Stock Issued During Period Value Reverse Stock Splits
StockIssuedDuringPeriodValueReverseStockSplits
|
USD | |
| CY2021 | PETV |
Stock Issued During Period Value Warrants Exercises
StockIssuedDuringPeriodValueWarrantsExercises
|
USD | |
| CY2022 | PETV |
Derivative Expenses
DerivativeExpenses
|
USD | |
| CY2021 | PETV |
Investor Relations Services Paid In Stock
InvestorRelationsServicesPaidInStock
|
USD | |
| CY2022 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
USD | |
| CY2021 | PETV |
Forgiveness Of Loan And Accrued Interest
ForgivenessOfLoanAndAccruedInterest
|
USD | |
| CY2022 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
USD | |
| CY2021 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
USD | |
| CY2021 | PETV |
Increase Decrease In Interest Accrued On Notes Payable Related Party
IncreaseDecreaseInInterestAccruedOnNotesPayableRelatedParty
|
USD | |
| CY2022 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
USD | |
| CY2022 | PETV |
Increase Decrease In Interest Accrued On Ppp Loan
IncreaseDecreaseInInterestAccruedOnPppLoan
|
USD | |
| CY2022 | PETV |
Equity Sale Proceed Receivable
EquitySaleProceedReceivable
|
USD | |
| CY2022 | PETV |
Proceeds From Loan Originations Paycheck Protection Program
ProceedsFromLoanOriginationsPaycheckProtectionProgram
|
USD | |
| CY2022 | PETV |
Proceeds From Notes Payable Directors
ProceedsFromNotesPayableDirectors
|
USD | |
| CY2022 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
USD | |
| CY2022 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
USD | |
| CY2021 | PETV |
Repayments Of Paycheck Protection Program
RepaymentsOfPaycheckProtectionProgram
|
USD | |
| CY2021 | PETV |
Repayments Of Notes Payable Directors
RepaymentsOfNotesPayableDirectors
|
USD | |
| CY2022 | PETV |
Derivative Treated As Debt Discount
DerivativeTreatedAsDebtDiscount
|
USD | |
| CY2022 | PETV |
Warrants Issued In Debt Financing
WarrantsIssuedInDebtFinancing
|
USD | |
| CY2021 | us-gaap |
Stock Issued1
StockIssued1
|
USD | |
| CY2021 | us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
USD | |
| CY2022 | PETV |
Accounts Payable Related Party Converted To Sharesettlement Debt Obligation Related Party
AccountsPayableRelatedPartyConvertedToSharesettlementDebtObligationRelatedParty
|
USD | |
| CY2022 | PETV |
Leasehold Improvements Included In Accounts Payable
LeaseholdImprovementsIncludedInAccountsPayable
|
USD | |
| CY2022 | PETV |
Warrants Converted
WarrantsConverted
|
USD | |
| CY2022 | PETV |
Note Payable Related Party Converted Into Common Stock
NotePayableRelatedPartyConvertedIntoCommonStock
|
USD | |
| CY2021Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
USD | |
| CY2022Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
USD | |
| CY2022Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
USD | |
| CY2021Q1 | us-gaap |
Inventory Net
InventoryNet
|
USD | |
| CY2022Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
USD | |
| CY2022Q1 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
USD | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
shares | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
shares | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
||
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
USD | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
shares | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
shares | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
||
| CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
||
| CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
|
||
| CY2022Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
USD | |
| CY2021Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
USD | |
| CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
pure | |
| CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
pure | |
| CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
pure | |
| CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.56 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
100200 | USD |
