2024 Q2 Form 10-Q Financial Statement

#000162828024022743 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $1.011M $921.0K $4.832M
YoY Change -71.01% -80.6% 1.24%
Cost Of Revenue $541.0K $397.0K $3.146M
YoY Change -82.15% -90.95% -16.84%
Gross Profit $470.0K $524.0K $1.686M
YoY Change 3.07% 45.15% 70.3%
Gross Profit Margin 46.49% 56.89% 34.89%
Selling, General & Admin $2.908M $2.914M $17.11M
YoY Change -53.38% -50.1% 167.7%
% of Gross Profit 618.72% 556.11% 1014.77%
Research & Development $496.0K $484.0K $4.449M
YoY Change -59.08% -72.69% 177.2%
% of Gross Profit 105.53% 92.37% 263.88%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.404M $3.398M $21.56M
YoY Change -60.66% -55.36% 169.61%
Operating Profit -$2.934M -$2.874M -$19.87M
YoY Change -64.21% -60.36% 183.64%
Interest Expense $8.000K $108.0K -$1.477M
YoY Change -98.55% -79.89% 117.53%
% of Operating Profit
Other Income/Expense, Net $303.0K $582.0K $230.0K
YoY Change -81.89% -80.48% -12.21%
Pretax Income -$2.631M -$2.292M -$41.92M
YoY Change -59.67% -46.31% 285.11%
Income Tax $0.00 $29.00K
% Of Pretax Income
Net Earnings -$2.631M -$2.292M -$52.79M
YoY Change -59.67% -46.31% 384.8%
Net Earnings / Revenue -260.24% -248.86% -1092.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.32 -$0.33 -$22.17
COMMON SHARES
Basic Shares Outstanding 8.272M shares 8.027M shares 135.4M shares
Diluted Shares Outstanding 8.299M shares 6.864B shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.37M $21.57M $3.934M
YoY Change 1743.35% 3007.64% 101.23%
Cash & Equivalents $20.37M $21.57M $3.934M
Short-Term Investments
Other Short-Term Assets $312.0K $432.0K $477.0K
YoY Change -55.11% -87.05% -95.73%
Inventory
Prepaid Expenses
Receivables $972.0K $637.0K $550.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.65M $22.64M $4.961M
YoY Change 348.21% 186.46% -70.58%
LONG-TERM ASSETS
Property, Plant & Equipment $31.00K $35.00K $40.00K
YoY Change -83.51% -83.01% -81.9%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $276.0K $276.0K $276.0K
YoY Change -24.8% -24.8% -88.31%
Total Long-Term Assets $1.415M $1.636M $1.767M
YoY Change -96.06% -95.64% -95.35%
TOTAL ASSETS
Total Short-Term Assets $21.65M $22.64M $4.961M
Total Long-Term Assets $1.415M $1.636M $1.767M
Total Assets $23.07M $24.27M $6.728M
YoY Change -43.45% -46.6% -87.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.787M $5.070M $7.836M
YoY Change -42.67% -34.71% 1.78%
Accrued Expenses $293.0K $239.0K $437.0K
YoY Change -81.0% -90.46% -84.91%
Deferred Revenue $975.0K $1.012M $1.258M
YoY Change -10.71% -33.07% -56.68%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $4.936M
YoY Change -100.0% -48.94%
Total Short-Term Liabilities $7.686M $8.179M $16.50M
YoY Change -60.07% -58.35% -35.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.292M $1.468M $1.682M
YoY Change -64.45% -62.55% -61.57%
Total Long-Term Liabilities $1.292M $1.468M $1.682M
YoY Change -64.45% -62.55% -61.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.686M $8.179M $16.50M
Total Long-Term Liabilities $1.292M $1.468M $1.682M
Total Liabilities $8.978M $9.647M $18.19M
YoY Change -60.76% -59.05% -39.29%
SHAREHOLDERS EQUITY
Retained Earnings -$307.9M -$305.3M -$303.0M
YoY Change 17.97% 19.96% 21.1%
Common Stock $1.000K $1.000K $0.00
YoY Change -90.91% -90.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.09M $14.63M -$11.46M
YoY Change
Total Liabilities & Shareholders Equity $23.07M $24.27M $6.728M
YoY Change -43.45% -46.6% -87.73%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.631M -$2.292M -$52.79M
YoY Change -59.67% -46.31% 384.8%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.675M -$5.530M -$2.566M
YoY Change -48.34% -25.09% -35.12%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$7.000K
YoY Change -100.0% -100.0% -121.21%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$8.000K
YoY Change -100.0% -100.0% -125.0%
Cash From Investing Activities $0.00 $0.00 -$1.000K
YoY Change -100.0% -100.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.436M $23.20M 3.596M
YoY Change 48.35% -595.07% -232.55%
NET CHANGE
Cash From Operating Activities -2.675M -$5.530M -2.566M
Cash From Investing Activities 0.000 $0.00 -1.000K
Cash From Financing Activities 1.436M $23.20M 3.596M
Net Change In Cash -1.239M $17.63M 1.029M
YoY Change -420.16% -1498.33% -115.43%
FREE CASH FLOW
Cash From Operating Activities -$2.675M -$5.530M -$2.566M
Capital Expenditures $0.00 $0.00 -$7.000K
Free Cash Flow -$2.675M -$5.530M -$2.559M
YoY Change -48.37% -25.15% -35.83%

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TreasuryStockValueAcquiredCostMethod
475000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
21901000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2292000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3712000 usd
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 usd
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-557000 usd
CY2024Q1 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
0 usd
CY2023Q1 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
3214000 usd
CY2024Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
535000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
630000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1362000 usd
CY2024Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-329000 usd
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-313000 usd
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
82000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
284000 usd
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
116000 usd
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2893000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-52000 usd
CY2024Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-185000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-263000 usd
CY2024Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-286000 usd
CY2023Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-114000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-5325000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6637000 usd
CY2024Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-205000 usd
CY2023Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-745000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5530000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7382000 usd
CY2024Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 usd
CY2023Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
10790000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
10790000 usd
CY2024Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 usd
CY2023Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-6000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
10784000 usd
CY2024Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 usd
CY2023Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
4270000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
23204000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
58000 usd
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
475000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23204000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4687000 usd
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-41000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17633000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1261000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3934000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1955000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21567000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
694000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
4000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
434000 usd
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
26000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024Q1 phun Stock Issued During Period Value Conversion Of Notes
StockIssuedDuringPeriodValueConversionOfNotes
4505000 usd
CY2023Q1 phun Stock Issued During Period Value Conversion Of Notes
StockIssuedDuringPeriodValueConversionOfNotes
0 usd
CY2024Q1 us-gaap Stock Issued1
StockIssued1
35000 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
347000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div>The preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates and such differences could be material.
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and trade accounts receivable.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although we limit our exposure to credit loss by depositing our cash with established financial institutions that management believes have good credit ratings and represent minimal risk of loss of principal, our deposits, at times, may exceed federally insured limits. </span></div>Collateral is not required for accounts receivable and we believe the carrying value approximates fair value.
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
566000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
91398 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
259597 shares
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
921000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1344000 usd
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
440000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4609000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.37
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q1 us-gaap Interest Expense
InterestExpense
108000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
537000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
170000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
325000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
463000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
370000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
284000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1683000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
170000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1513000 usd
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8272091 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3851448 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2696000 shares
CY2024Q1 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
22600000 usd
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1880000 usd
CY2023Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
10130 shares
CY2023 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
502000 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
630000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1362000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1539000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
274491 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
86837 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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