2021 Q4 Form 10-Q Financial Statement

#000155837021015862 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $8.550M $12.05M $10.79M
YoY Change -56.15% 11.71% -24.27%
Cost Of Revenue $3.150M $3.703M $2.868M
YoY Change 14.55% 29.11% -10.51%
Gross Profit $5.400M $8.351M $7.922M
YoY Change -67.74% 5.42% -28.26%
Gross Profit Margin 63.16% 69.28% 73.42%
Selling, General & Admin $3.470M $2.954M $2.816M
YoY Change 17.63% 4.9% 8.85%
% of Gross Profit 64.26% 35.37% 35.55%
Research & Development $7.640M $7.282M $7.688M
YoY Change -30.23% -5.28% -23.12%
% of Gross Profit 141.48% 87.2% 97.05%
Depreciation & Amortization $260.0K $290.0K $300.0K
YoY Change -10.34% -3.33% -30.23%
% of Gross Profit 4.81% 3.47% 3.79%
Operating Expenses $11.11M $10.24M $10.50M
YoY Change -20.13% -2.55% -16.55%
Operating Profit -$5.710M -$1.885M -$2.582M
YoY Change -301.77% -26.99% 67.23%
Interest Expense -$910.0K -$2.310M -$1.860M
YoY Change -62.7% 24.19% -7.92%
% of Operating Profit
Other Income/Expense, Net -$50.00K -$2.314M -$1.855M
YoY Change 24.74% -7.99%
Pretax Income -$6.670M -$4.200M -$4.440M
YoY Change -1767.5% -5.41% 24.72%
Income Tax
% Of Pretax Income
Net Earnings -$6.670M -$4.199M -$4.437M
YoY Change -1767.5% -5.36% 24.63%
Net Earnings / Revenue -78.01% -34.83% -41.12%
Basic Earnings Per Share -$0.09 -$0.14
Diluted Earnings Per Share -$0.15 -$0.09 -$0.14
COMMON SHARES
Basic Shares Outstanding 45.56M 45.56M 32.86M
Diluted Shares Outstanding 45.56M 32.86M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.00M $10.60M $13.50M
YoY Change 113.11% -21.48% -36.92%
Cash & Equivalents $38.99M $10.64M $13.53M
Short-Term Investments
Other Short-Term Assets $1.285M $2.274M $2.612M
YoY Change -38.69% -12.94% -6.71%
Inventory $17.95M $14.73M $13.28M
Prepaid Expenses $905.0K
Receivables $3.442M $5.561M $3.146M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $61.67M $71.22M $60.33M
YoY Change 10.67% 18.05% 49.34%
LONG-TERM ASSETS
Property, Plant & Equipment $4.962M $5.065M $4.639M
YoY Change 2.41% 9.18% -58.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.100M $1.900M $1.600M
YoY Change 16.67% 18.75% -20.0%
Total Long-Term Assets $12.00M $12.26M $11.98M
YoY Change -1.74% 2.34% -9.94%
TOTAL ASSETS
Total Short-Term Assets $61.67M $71.22M $60.33M
Total Long-Term Assets $12.00M $12.26M $11.98M
Total Assets $73.67M $83.48M $72.31M
YoY Change 8.44% 15.45% 34.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.43M $8.400M $8.400M
YoY Change 18.0% 0.0% 7.69%
Accrued Expenses $11.98M $1.200M $1.200M
YoY Change 24.98% 0.0% 0.0%
Deferred Revenue $8.550M $15.16M $16.72M
YoY Change 58.51% -9.33%
Short-Term Debt $0.00 $0.00 $4.300M
YoY Change -100.0% -100.0%
Long-Term Debt Due $3.200M
YoY Change
Total Short-Term Liabilities $33.18M $42.76M $43.90M
YoY Change -61.63% -2.58% 31.82%
LONG-TERM LIABILITIES
Long-Term Debt $27.90M $27.80M $53.60M
YoY Change 27800.0% -48.13% -3.42%
Other Long-Term Liabilities $18.60M $12.70M $46.00K
YoY Change 36370.59% 27508.7% -99.87%
Total Long-Term Liabilities $46.53M $40.51M $61.73M
YoY Change 447.55% -34.38% -32.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.18M $42.76M $43.90M
Total Long-Term Liabilities $46.53M $40.51M $61.73M
Total Liabilities $79.70M $83.27M $105.6M
YoY Change -16.08% -21.17% -15.23%
SHAREHOLDERS EQUITY
Retained Earnings -$374.9M
YoY Change 7.94%
Common Stock $368.9M
YoY Change 15.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.036M $213.0K -$33.32M
YoY Change
Total Liabilities & Shareholders Equity $73.67M $83.48M $72.31M
YoY Change 8.44% 15.45% 34.66%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$6.670M -$4.199M -$4.437M
YoY Change -1767.5% -5.36% 24.63%
Depreciation, Depletion And Amortization $260.0K $290.0K $300.0K
YoY Change -10.34% -3.33% -30.23%
Cash From Operating Activities -$5.090M -$1.880M -$3.610M
YoY Change -32.58% -47.92% 12.11%
INVESTING ACTIVITIES
Capital Expenditures $450.0K $340.0K $100.0K
YoY Change 60.71% 240.0% -74.36%
Acquisitions
YoY Change
Other Investing Activities $37.88M $4.980M $7.910M
YoY Change 381.93% -37.04% -15920.0%
Cash From Investing Activities $37.44M $4.620M $7.810M
YoY Change 393.28% -40.85% -1875.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.040M -25.99M 4.480M
YoY Change -186.88% -680.13%
NET CHANGE
Cash From Operating Activities -5.090M -1.880M -3.610M
Cash From Investing Activities 37.44M 4.620M 7.810M
Cash From Financing Activities -4.040M -25.99M 4.480M
Net Change In Cash 28.31M -23.25M 8.680M
YoY Change 503.62% -367.86% -337.16%
FREE CASH FLOW
Cash From Operating Activities -$5.090M -$1.880M -$3.610M
Capital Expenditures $450.0K $340.0K $100.0K
Free Cash Flow -$5.540M -$2.220M -$3.710M
YoY Change -29.25% -40.16% 2.77%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1011000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
380000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
53000
plx Increase Decrease In Restricted Deposit
IncreaseDecreaseInRestrictedDeposit
-359000
plx Increase Decrease In Restricted Deposit
IncreaseDecreaseInRestrictedDeposit
4000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
81000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-340000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18515000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27544000
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
25990000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
4086000
plx Proceeds From Issuance Of Common Stock And Warrants Net Of Issuance Cost
ProceedsFromIssuanceOfCommonStockAndWarrantsNetOfIssuanceCost
37625000
plx Proceeds From Issuance Of Common Stock And Warrants Net Of Issuance Cost
ProceedsFromIssuanceOfCommonStockAndWarrantsNetOfIssuanceCost
41343000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8575000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
472000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16124000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
41815000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-34000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
26000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7623000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4259000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18265000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17792000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10642000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13533000
plx Increase In Liabilities For Property Plant And Equipment
IncreaseInLiabilitiesForPropertyPlantAndEquipment
387000
plx Increase In Liabilities For Property Plant And Equipment
IncreaseInLiabilitiesForPropertyPlantAndEquipment
95000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
309000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
564000
plx Debt Conversion Transaction Costs In Connection With Exchange Of Convertible Debt
DebtConversionTransactionCostsInConnectionWithExchangeOfConvertibleDebt
774000
us-gaap Interest Paid Net
InterestPaidNet
3288000
us-gaap Interest Paid Net
InterestPaidNet
2172000
plx Interest Received Net
InterestReceivedNet
445000
plx Interest Received Net
InterestReceivedNet
68000
CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
8749999
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
40200000
CY2021Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
4.60
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26905842
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21405733
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27962842
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26847081
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3170000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3347000
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3507000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2887000
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
8053000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6848000
CY2021Q3 us-gaap Inventory Net
InventoryNet
14730000
CY2020Q4 us-gaap Inventory Net
InventoryNet
13082000
CY2021Q3 plx Maintain Of Minimum Cash Balance
MaintainOfMinimumCashBalance
7500000
CY2021Q3 plx Debt Instrument Minimum Unrestricted Cash To Be Maintained
DebtInstrumentMinimumUnrestrictedCashToBeMaintained
3270000

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