2023 Q2 Form 10-Q Financial Statement

#000155837023009597 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $3.533M $2.817M
YoY Change 49.77% 15.12%
Cost Of Revenue $2.162M $2.068M
YoY Change 36.32% 18.58%
Gross Profit $1.371M $749.0K
YoY Change 77.36% 6.54%
Gross Profit Margin 38.81% 26.59%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $331.0K $310.0K
YoY Change -1.19% 2.65%
% of Gross Profit 24.14% 41.39%
Operating Expenses $3.663M $3.775M
YoY Change 14.25% -31.51%
Operating Profit -$2.292M -$3.026M
YoY Change -5.8% -37.08%
Interest Expense -$1.000K -$4.000K
YoY Change -100.34% -101.79%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.293M -$3.030M
YoY Change 7.25% -33.9%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.293M -$3.030M
YoY Change 7.25% -33.9%
Net Earnings / Revenue -64.9% -107.56%
Basic Earnings Per Share -$0.09 -$0.13
Diluted Earnings Per Share -$0.09 -$0.13
COMMON SHARES
Basic Shares Outstanding 23.44M 23.35M
Diluted Shares Outstanding 24.36M 23.21M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.573M $2.141M
YoY Change -65.57% -76.88%
Cash & Equivalents $2.573M $2.141M
Short-Term Investments
Other Short-Term Assets $354.0K $450.0K
YoY Change -2.75% 0.0%
Inventory $537.0K $546.0K
Prepaid Expenses
Receivables $884.0K $858.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.348M $3.995M
YoY Change -54.74% -64.92%
LONG-TERM ASSETS
Property, Plant & Equipment $791.0K $834.0K
YoY Change -2.71% 5.84%
Goodwill
YoY Change
Intangibles $13.29M $13.53M
YoY Change -6.66% -6.56%
Long-Term Investments
YoY Change
Other Assets $104.0K $116.0K
YoY Change -33.33% -30.54%
Total Long-Term Assets $15.12M $15.43M
YoY Change -7.63% -6.97%
TOTAL ASSETS
Total Short-Term Assets $4.348M $3.995M
Total Long-Term Assets $15.12M $15.43M
Total Assets $19.47M $19.42M
YoY Change -25.05% -30.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.402M $2.190M
YoY Change -5.99% -5.52%
Accrued Expenses $1.895M $1.685M
YoY Change 32.15% 0.72%
Deferred Revenue $17.00K $100.0K
YoY Change 30.77% 376.19%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.00K $142.0K
YoY Change 3.85% 446.15%
Total Short-Term Liabilities $4.721M $4.501M
YoY Change 7.44% 2.41%
LONG-TERM LIABILITIES
Long-Term Debt $120.0K $127.0K
YoY Change -18.92% -17.53%
Other Long-Term Liabilities $509.0K $520.0K
YoY Change -33.29% -50.0%
Total Long-Term Liabilities $120.0K $127.0K
YoY Change -18.92% -17.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.721M $4.501M
Total Long-Term Liabilities $120.0K $127.0K
Total Liabilities $5.381M $5.198M
YoY Change -0.61% -9.11%
SHAREHOLDERS EQUITY
Retained Earnings -$97.60M -$95.30M
YoY Change 12.44% 12.51%
Common Stock $275.0K $233.0K
YoY Change 21.15% 2.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.03M $14.16M
YoY Change
Total Liabilities & Shareholders Equity $19.47M $19.42M
YoY Change -25.05% -30.56%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$2.293M -$3.030M
YoY Change 7.25% -33.9%
Depreciation, Depletion And Amortization $331.0K $310.0K
YoY Change -1.19% 2.65%
Cash From Operating Activities -$1.202M -$1.600M
YoY Change -26.97% -30.43%
INVESTING ACTIVITIES
Capital Expenditures $32.00K $22.00K
YoY Change -133.33% 120.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$32.00K -$22.00K
YoY Change -66.67% 120.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.666M 293.0K
YoY Change -3721.74% -565.08%
NET CHANGE
Cash From Operating Activities -1.202M -1.600M
Cash From Investing Activities -32.00K -22.00K
Cash From Financing Activities 1.666M 293.0K
Net Change In Cash 432.0K -1.304M
YoY Change -124.16% -45.82%
FREE CASH FLOW
Cash From Operating Activities -$1.202M -$1.600M
Capital Expenditures $32.00K $22.00K
Free Cash Flow -$1.234M -$1.622M
YoY Change -20.39% -29.78%

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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 us-gaap Debt And Capital Lease Obligations
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CY2022Q4 us-gaap Debt And Capital Lease Obligations
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CY2023Q1 us-gaap Long Term Debt Current
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CY2022Q4 us-gaap Long Term Debt Current
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CY2023Q1 us-gaap Long Term Debt Noncurrent
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CY2023Q1 us-gaap Taxes Payable Current
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CY2023Q1 us-gaap Interest Payable Current
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CY2023Q1 us-gaap Accrued Liabilities Current
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CY2023Q1 us-gaap Other Commitment
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CY2023Q1 us-gaap Sales Type Lease Net Investment In Lease
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100000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q1 us-gaap Finance Lease Right Of Use Asset
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CY2022Q4 us-gaap Finance Lease Right Of Use Asset
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CY2023Q1 prpo Operating And Finance Lease Right Of Use Asset
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205000
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CY2023Q1 us-gaap Finance Lease Liability Current
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CY2022Q4 us-gaap Finance Lease Liability Current
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CY2023Q1 us-gaap Operating Lease Liability Noncurrent
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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CY2023Q1 us-gaap Finance Lease Liability Noncurrent
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CY2023Q1 prpo Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
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CY2022Q4 prpo Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
189000
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2023Q1 prpo Lessee Operating And Finance Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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80000
CY2023Q1 prpo Lessee Operating And Finance Lease Liability Payments Due Next Twelve Months
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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205000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
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65000
CY2023Q1 prpo Lessee Operating And Finance Lease Liability Payments Due Year Two
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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195000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
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CY2023Q1 prpo Lessee Operating And Finance Lease Liability Payments Due Year Three
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q1 us-gaap Finance Lease Liability Payments Due
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CY2023Q1 prpo Lessee Operating And Finance Lease Liability Payments Due
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CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2023Q1 prpo Lessee Operating And Finance Lease Liability Undiscounted Excess Amount
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CY2023Q1 us-gaap Operating Lease Liability
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CY2023Q1 us-gaap Finance Lease Liability
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CY2023Q1 prpo Operating And Finance Lease Liability
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CY2023Q1 us-gaap Operating Lease Liability Current
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CY2023Q1 prpo Operating And Finance Lease Liability Current
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CY2023Q1 us-gaap Operating Lease Liability Noncurrent
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520000
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
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CY2023Q1 prpo Operating And Finance Lease Liability Noncurrent
OperatingAndFinanceLeaseLiabilityNoncurrent
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CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0800
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0800
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1041
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1031
CY2022Q1 us-gaap Operating Lease Payments
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100000
CY2023Q1 us-gaap Operating Lease Payments
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100000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
689131
CY2022Q1 prpo Deemed Dividend
DeemedDividend
0
CY2023Q1 prpo Deemed Dividend
DeemedDividend
0
prpo Number Of Dates Of Different Convertible Note Issuances
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8
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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500000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3300000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P2Y6M
CY2022Q1 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
0
CY2023Q1 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
0
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 us-gaap Contract With Customer Liability Current
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100000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100000
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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5564000
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4945000
CY2023Q1 prpo Contractual Allowance And Adjustments
ContractualAllowanceAndAdjustments
2735000
CY2022Q1 prpo Contractual Allowance And Adjustments
ContractualAllowanceAndAdjustments
2418000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2829000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2527000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2829000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2527000
CY2023Q1 prpo Allowance For Doubtful Accounts Revenue
AllowanceForDoubtfulAccountsRevenue
12000
CY2022Q1 prpo Allowance For Doubtful Accounts Revenue
AllowanceForDoubtfulAccountsRevenue
80000
CY2023Q1 us-gaap Revenues
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2817000
CY2022Q1 us-gaap Revenues
Revenues
2447000
CY2023Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
3224000
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
3390000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2366000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2354000
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
858000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1036000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2354000
CY2023Q1 prpo Allowance For Doubtful Accounts Revenue
AllowanceForDoubtfulAccountsRevenue
12000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
12000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2366000

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