2024 Q3 Form 10-K Financial Statement

#000168316824006760 Filed on September 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $4.716M $19.10M
YoY Change -6.05% -9.22%
Cost Of Revenue $3.692M $13.31M
YoY Change 12.9% -0.03%
Gross Profit $1.024M $5.798M
YoY Change -41.79% -25.04%
Gross Profit Margin 21.72% 30.35%
Selling, General & Admin $2.026M $7.540M
YoY Change -0.67% 2.17%
% of Gross Profit 197.79% 130.06%
Research & Development $354.5K $981.8K
YoY Change 7.43% -1.07%
% of Gross Profit 34.61% 16.93%
Depreciation & Amortization $55.79K $212.4K
YoY Change 11.58% 0.78%
% of Gross Profit 5.45% 3.66%
Operating Expenses $2.381M $8.522M
YoY Change 0.46% 1.78%
Operating Profit -$1.356M -$2.724M
YoY Change 122.35% 326.64%
Interest Expense -$52.82K -$225.1K
YoY Change 5.64% -202.82%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.409M -$2.949M
YoY Change 1465.74% 1967.22%
Income Tax $1.940K $1.936K
% Of Pretax Income
Net Earnings -$1.411M -$2.951M
YoY Change 1311.11% 1940.88%
Net Earnings / Revenue -29.92% -15.45%
Basic Earnings Per Share -$0.49
Diluted Earnings Per Share -$0.23 -$0.49
COMMON SHARES
Basic Shares Outstanding 6.350M shares 6.069M shares 6.068M shares
Diluted Shares Outstanding 6.068M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $405.3K $405.3K
YoY Change -86.17% -86.17%
Cash & Equivalents $405.3K $405.3K
Short-Term Investments
Other Short-Term Assets $299.4K $299.4K
YoY Change 19.74% 19.74%
Inventory $2.868M $2.868M
Prepaid Expenses $299.4K
Receivables $3.545M $3.545M
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.118M $7.118M
YoY Change -27.8% -27.81%
LONG-TERM ASSETS
Property, Plant & Equipment $493.6K $683.6K
YoY Change 13.85% -13.47%
Goodwill $8.824M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $9.794M $9.794M
YoY Change -0.88% -0.87%
TOTAL ASSETS
Total Short-Term Assets $7.118M $7.118M
Total Long-Term Assets $9.794M $9.794M
Total Assets $16.91M $16.91M
YoY Change -14.33% -14.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.397M $1.397M
YoY Change -42.55% -42.5%
Accrued Expenses $1.019M $1.019M
YoY Change -7.35% -7.35%
Deferred Revenue $1.172M
YoY Change -0.2%
Short-Term Debt $1.000M $1.000M
YoY Change
Long-Term Debt Due $276.9K $318.0K
YoY Change -46.05% -43.21%
Total Short-Term Liabilities $4.907M $4.907M
YoY Change -6.71% -6.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.899M $1.926M
YoY Change -12.73% -14.0%
Other Long-Term Liabilities $11.55K $11.55K
YoY Change -93.92% -93.92%
Total Long-Term Liabilities $1.899M $1.938M
YoY Change -12.73% -20.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.907M $4.907M
Total Long-Term Liabilities $1.899M $1.938M
Total Liabilities $6.845M $6.845M
YoY Change -7.95% -10.99%
SHAREHOLDERS EQUITY
Retained Earnings -$51.19M
YoY Change 6.12%
Common Stock $60.74K
YoY Change 0.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.07M $10.07M
YoY Change
Total Liabilities & Shareholders Equity $16.91M $16.91M
YoY Change -14.33% -14.32%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$1.411M -$2.951M
YoY Change 1311.11% 1940.88%
Depreciation, Depletion And Amortization $55.79K $212.4K
YoY Change 11.58% 0.78%
Cash From Operating Activities -$976.0K -$2.683M
YoY Change 60.0% 3208.68%
INVESTING ACTIVITIES
Capital Expenditures $11.80K $272.4K
YoY Change 1523.18%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$11.80K -$293.9K
YoY Change 459.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $513.3K
YoY Change 39.72%
Cash From Financing Activities 468.0K $456.3K
YoY Change -83.97% -81.4%
NET CHANGE
Cash From Operating Activities -976.0K -$2.683M
Cash From Investing Activities -11.80K -$293.9K
Cash From Financing Activities 468.0K $456.3K
Net Change In Cash -519.8K -$2.521M
YoY Change -122.5% -208.64%
FREE CASH FLOW
Cash From Operating Activities -$976.0K -$2.683M
Capital Expenditures $11.80K $272.4K
Free Cash Flow -$987.8K -$2.955M
YoY Change 61.94% 2919.64%

Facts In Submission

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ProceedsFromRepaymentsOfLinesOfCredit
0 usd
CY2024 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 usd
CY2023 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
2288281 usd
CY2024 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
12789 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
12397 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
456321 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2453690 usd
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2520574 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2320103 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2925852 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
605749 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
405278 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2925852 usd
CY2024 us-gaap Income Taxes Paid
IncomeTaxesPaid
1936 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
1936 usd
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
reverse stock split on a one-for-three
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16915089 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5638302 shares
CY2024 us-gaap Revenues
Revenues
19104350 usd
CY2023 us-gaap Revenues
Revenues
21044467 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1174690 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
905113 usd
CY2024 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1946946 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2545317 usd
CY2024 POCI Revenue Recognized
RevenueRecognized
-1949286 usd
CY2023 POCI Revenue Recognized
RevenueRecognized
-2275740 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1172350 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1174690 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
405278 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2925852 usd
CY2024Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
1570135 usd
CY2023Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
1142816 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
157406 usd
CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
322538 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1140559 usd
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1310862 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
2868100 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
2776216 usd
CY2024 us-gaap Depreciation And Amortization
DepreciationAndAmortization
212382 usd
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
210735 usd
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_zIwc2ZCP1JUk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%; text-align: justify"><span style="font-size: 10pt"><b>(g)</b></span></td> <td style="width: 95%; text-align: justify"><span style="font-size: 10pt"><b><span id="xdx_868_zRwpArTTe9M6">Significant Customers and Concentration of Credit Risk</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that subject the Company to credit risk consist primarily of cash equivalents and trade accounts receivable. The Company places its investments with highly rated financial institutions. The Company has not experienced any losses on these investments to date. At June 30, 2024, and 2023, two individual customers accounted for more than <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20230701__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zni2u6rqjBb3" title="Concentration risk percentage"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_z2chGI4lSkug" title="Concentration risk percentage">10</span></span>% of the Company’s total accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The allowance for credit losses was $<span id="xdx_900_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_c20240630_zFhJCfzNDjS6">118,872 </span>at June 30, 2024, and $<span id="xdx_908_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_c20230630_z6xgX3ZxRerh">606,715 </span>at June 30, 2023.</p> <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_ziSloABPf73b" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Allowance for credit losses)"> <tr style="vertical-align: bottom"> <td style="text-align: left"><span id="xdx_8B7_zrBadV6mukKg" style="display: none">Schedule of allowance for credit losses</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Allowance for credit losses, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_c20230701__20240630_zOs1dJZYVxWb" style="width: 13%; text-align: right" title="Allowance for credit losses, beginning of period">606,715</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_985_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_c20220701__20230630_zfqBp1CPA52" style="width: 13%; text-align: right" title="Allowance for credit losses, beginning of period">44,135</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in the provision for expected credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForDoubtfulAccounts_c20230701__20240630_zgrWKA9cjvHg" style="text-align: right" title="Change in the provision for expected credit losses">(23,541</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ProvisionForDoubtfulAccounts_c20220701__20230630_zqNHCrJN0CJ8" style="text-align: right" title="Change in the provision for expected credit losses">567,066</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Writeoffs charged against the allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_di_c20230701__20240630_zHklsyQBPq4b" style="border-bottom: Black 1pt solid; text-align: right" title="Write offs charged against the allowance">(464,302</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_di_c20220701__20230630_z2NPlpsq3Gcc" style="border-bottom: Black 1pt solid; text-align: right" title="Write offs charged against the allowance">(4,847</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Allowance for credit losses, end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_c20230701__20240630_zV3vrKUXzhSe" style="border-bottom: Black 2.5pt double; text-align: right" title="Allowance for credit losses, end of period">118,872</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_c20220701__20230630_zEI2T3R8mB3b" style="border-bottom: Black 2.5pt double; text-align: right" title="Allowance for credit losses, end of period">606,715</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zwhvQMyUEI9b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the year ended June 30, 2023, the Company increased the credit loss reserve to cover potential losses due to the insolvency of one customer and wrote off the receivable against the reserve during the year ended June 30, 2024. The Company generally does not require collateral or other security as a condition of sale, rather it relies on credit approval, balance limitation and monitoring procedures to control credit risk in trade account financial instruments. Management believes the allowance for credit losses, which is established based upon review of specific account balances and historical experience, is adequate at June 30, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
118872 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
606715 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
606715 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
44135 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-23541 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
567066 usd
CY2024 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
464302 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
4847 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
118872 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
606715 usd
CY2024 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2951377 usd
CY2024 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2951377 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-144613 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-144613 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6068329 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6068329 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5666034 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5666034 shares
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1357735 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1017041 shares
CY2024 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
959784 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
919032 usd
CY2024 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2023 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zMf6padrmTe7" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-size: 10pt"><b>(p)</b></span></td> <td style="width: 95%"><span style="font-size: 10pt"><b><span id="xdx_86F_zSr85GPtUJo3">Use of Estimates</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting standards generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024 POCI Waiver Fee
WaiverFee
5000 usd
CY2024Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
1609524 usd
CY2024Q2 us-gaap Loans Payable
LoansPayable
600000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
276928 usd
CY2024Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
14360 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
33544 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1899052 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
285097 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
594578 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
594578 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
594578 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
140693 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
2209524 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
189999 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
178450 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11549 usd
CY2024 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
959784 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
919032 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y3M18D
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.994 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.019 pure
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000 pure
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.69
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.77
CY2023Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
420000 shares
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1936 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1936 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.063 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.058 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.163 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.233 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.105 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
1.760 pure
CY2024 POCI Effective Income Tax Rate Reconciliation Nol Utilization
EffectiveIncomeTaxRateReconciliationNOLUtilization
0 pure
CY2023 POCI Effective Income Tax Rate Reconciliation Nol Utilization
EffectiveIncomeTaxRateReconciliationNOLUtilization
0.050 pure
CY2024 POCI Revaluation Of Contingent Earn Out Liability
RevaluationOfContingentEarnOutLiability
0 pure
CY2023 POCI Revaluation Of Contingent Earn Out Liability
RevaluationOfContingentEarnOutLiability
-1.352 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.004 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.056 pure
CY2024 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.013 pure
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3999000 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2617000 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
353000 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
247000 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
254000 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
407000 usd
CY2024Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4606000 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3271000 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4606000 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3271000 usd
CY2024Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2024 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
CY2023 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001683168-24-006760-index-headers.html Edgar Link pending
0001683168-24-006760-index.html Edgar Link pending
0001683168-24-006760.txt Edgar Link pending
0001683168-24-006760-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_002.jpg Edgar Link pending
image_004.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
poci-20240630.xsd Edgar Link pending
poci_ex0401.htm Edgar Link pending
poci_ex0402.htm Edgar Link pending
poci_ex1030.htm Edgar Link pending
poci_ex1031.htm Edgar Link pending
poci_ex1901.htm Edgar Link pending
poci_ex2301.htm Edgar Link pending
poci_ex3101.htm Edgar Link pending
poci_ex3102.htm Edgar Link pending
poci_ex3201.htm Edgar Link pending
poci_ex9701.htm Edgar Link pending
poci_i10k-063024.htm Edgar Link pending
R1.htm Edgar Link pending
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R32.htm Edgar Link pending
poci-20240630_cal.xml Edgar Link unprocessable
poci-20240630_def.xml Edgar Link unprocessable
poci-20240630_lab.xml Edgar Link unprocessable
poci-20240630_pre.xml Edgar Link unprocessable
poci_i10k-063024_htm.xml Edgar Link completed
R33.htm Edgar Link pending
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R5.htm Edgar Link pending
R6.htm Edgar Link pending
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R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable