2023 Q2 Form 10-Q Financial Statement
#000166357723000264 Filed on May 19, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
Revenue | $21.60M | $18.16M | $28.26M |
YoY Change | |||
Cost Of Revenue | $13.66M | $12.70M | $18.62M |
YoY Change | |||
Gross Profit | $7.940M | $5.453M | $9.640M |
YoY Change | |||
Gross Profit Margin | 36.75% | 30.03% | 34.11% |
Selling, General & Admin | $2.609M | $2.431M | $4.124M |
YoY Change | 13118.46% | 5189.97% | |
% of Gross Profit | 32.85% | 44.59% | 42.78% |
Research & Development | $14.22K | ||
YoY Change | -75.7% | ||
% of Gross Profit | 0.18% | ||
Depreciation & Amortization | $653.0K | $171.0K | |
YoY Change | 15.58% | ||
% of Gross Profit | 8.22% | 1.77% | |
Operating Expenses | $3.330M | $2.431M | $4.124M |
YoY Change | 3572.7% | 1218.35% | 2721.38% |
Operating Profit | $4.610M | $3.022M | $5.516M |
YoY Change | -5185.18% | -1738.37% | -3873.69% |
Interest Expense | -$1.010M | -$971.4K | -$3.023M |
YoY Change | -104059.16% | -96086.96% | 269066.16% |
% of Operating Profit | -21.92% | -32.15% | -54.8% |
Other Income/Expense, Net | -$1.757M | -$990.9K | -$3.213M |
YoY Change | 422.88% | 6763.22% | 286022.71% |
Pretax Income | $2.853M | $2.031M | |
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $2.853M | $2.031M | $2.566M |
YoY Change | 1062.24% | -1294.61% | -1841.93% |
Net Earnings / Revenue | 13.21% | 11.18% | 9.08% |
Basic Earnings Per Share | -$0.01 | $0.00 | |
Diluted Earnings Per Share | $0.03 | $0.02 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 114.4M shares | 102.9M shares | 102.9M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.211M | $2.733M | |
YoY Change | |||
Cash & Equivalents | $1.708M | $1.230M | $1.313M |
Short-Term Investments | $1.503M | $1.503M | |
Other Short-Term Assets | $4.944M | $109.0M | $110.3M |
YoY Change | 61960212.36% | ||
Inventory | $1.536M | $45.83M | $1.203M |
Prepaid Expenses | $7.540M | $7.540M | |
Receivables | $60.41M | $48.55M | $37.84M |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $116.7M | $110.2M | $111.6M |
YoY Change | 498285.0% | 704591.05% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $32.13M | $33.41M | |
YoY Change | |||
Goodwill | $56.39M | ||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $88.52M | $89.79M | $89.09M |
YoY Change | 42264.83% | ||
Total Long-Term Assets | $88.52M | $89.79M | $89.09M |
YoY Change | 42264.83% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $116.7M | $110.2M | $111.6M |
Total Long-Term Assets | $88.52M | $89.79M | $89.09M |
Total Assets | $205.2M | $200.0M | $200.7M |
YoY Change | 876348.88% | 88650.8% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $41.01M | $38.92M | $43.34M |
YoY Change | |||
Accrued Expenses | $2.290M | $887.2K | $1.206M |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $18.91M | $19.72M | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $143.6M | $141.8M | $144.7M |
YoY Change | 118975.15% | 24211.4% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $12.83M | $13.67M | |
YoY Change | |||
Other Long-Term Liabilities | $1.938M | $28.01M | $28.03M |
YoY Change | |||
Total Long-Term Liabilities | $28.35M | $29.31M | $29.13M |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $143.6M | $141.8M | $144.7M |
Total Long-Term Liabilities | $28.35M | $29.31M | $29.13M |
Total Liabilities | $172.0M | $171.1M | $173.8M |
YoY Change | 142476.43% | 29105.85% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$7.455M | -$8.423M | -$9.438M |
YoY Change | -41.25% | -26.05% | |
Common Stock | $114.6K | $102.9K | $102.9K |
YoY Change | 13.57% | 8.6% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $33.20M | $28.91M | $3.235M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $205.2M | $200.0M | $200.7M |
YoY Change | 876348.88% | 88650.8% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $2.853M | $2.031M | $2.566M |
YoY Change | 1062.24% | -1294.61% | -1841.93% |
Depreciation, Depletion And Amortization | $653.0K | $171.0K | |
YoY Change | 15.58% | ||
Cash From Operating Activities | $1.824M | $2.206M | |
YoY Change | -1399.94% | -4171.22% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$625.3K | $704.1K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | $625.3K | -$704.1K | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$1.971M | -$1.584M | |
YoY Change | -1517.29% | -3099.52% | |
NET CHANGE | |||
Cash From Operating Activities | $1.824M | $2.206M | |
Cash From Investing Activities | $625.3K | -$704.1K | |
Cash From Financing Activities | -$1.971M | -$1.584M | |
Net Change In Cash | $477.9K | -$82.67K | |
YoY Change | -39498.85% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | $1.824M | $2.206M | |
Capital Expenditures | -$625.3K | $704.1K | |
Free Cash Flow | $2.449M | $1.502M | |
YoY Change |
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|
57824 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
104550 | usd |
CY2022Q1 | QIND |
Receivable With Imputed Interest Value
ReceivableWithImputedInterestValue
|
745 | usd |
CY2022Q1 | QIND |
Net Income Loss Inludes Other Amounts
NetIncomeLossInludesOtherAmounts
|
-169990 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-375878 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2030710 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-169990 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
|
971388 | usd |
CY2022Q1 | us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
104550 | usd |
CY2022Q1 | QIND |
Imputed Interest
ImputedInterest
|
745 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
1298517 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
208591 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
797504 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
0 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-2892208 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-198079 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
2205911 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-54183 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-704119 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-704119 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
|
200000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
|
971388 | usd |
CY2023Q1 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
-797504 | usd |
CY2022Q1 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
-10000 | usd |
CY2022Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
5000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
-15572 | usd |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
57824 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1584464 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
52824 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-82672 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1359 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1312565 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
15659 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1229893 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
14300 | usd |
CY2022Q2 | QIND |
Control Block Shares Transferred Shares
ControlBlockSharesTransferredShares
|
77669078 | shares |
CY2022Q2 | QIND |
Control Block Shares Transferred Value
ControlBlockSharesTransferredValue
|
500000 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_ztGOwUpsDmoh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Use of estimates</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 65.2pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates used to review the Company’s, impairments and estimations of long-lived assets, revenue recognition of Contract based revenue, allowances for uncollectible accounts, and the valuations of non-cash capital stock issuances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable in the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 2pt 0 4.5pt; text-indent: -0.5pt"> </p> | |
CY2023Q1 | QIND |
Work In Progress
WorkInProgress
|
44575751 | usd |
CY2022Q4 | QIND |
Work In Progress
WorkInProgress
|
57433535 | usd |
CY2023Q1 | us-gaap |
Margin Deposit Assets
MarginDepositAssets
|
1036019 | usd |
CY2022Q4 | us-gaap |
Margin Deposit Assets
MarginDepositAssets
|
1036019 | usd |
CY2023Q1 | QIND |
Retention Receivable
RetentionReceivable
|
2800611 | usd |
CY2022Q4 | QIND |
Retention Receivable
RetentionReceivable
|
2800611 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
48548233 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
37835611 | usd |
CY2023Q1 | us-gaap |
Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
|
2571722 | usd |
CY2023Q1 | us-gaap |
Cash
Cash
|
1229893 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
1312565 | usd |
CY2022Q4 | us-gaap |
Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
|
1794218 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
7539940 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
7539940 | usd |
CY2023Q1 | us-gaap |
Guaranty Assets
GuarantyAssets
|
344143 | usd |
CY2022Q4 | us-gaap |
Guaranty Assets
GuarantyAssets
|
344143 | usd |
CY2023Q1 | us-gaap |
Other Restricted Assets Current
OtherRestrictedAssetsCurrent
|
181929 | usd |
CY2022Q4 | us-gaap |
Other Restricted Assets Current
OtherRestrictedAssetsCurrent
|
179488 | usd |
CY2023Q1 | us-gaap |
Deposit Assets
DepositAssets
|
123117 | usd |
CY2022Q4 | us-gaap |
Deposit Assets
DepositAssets
|
123117 | usd |
CY2023Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
108990839 | usd |
CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
110289356 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
797504 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
0 | usd |
CY2023Q1 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
19716635 | usd |
CY2022Q4 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
18220315 | usd |
CY2023Q1 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
835820 | usd |
CY2022Q4 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
836382 | usd |
CY2023Q1 | us-gaap |
Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
|
51378 | usd |
CY2022Q4 | us-gaap |
Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
|
31855 | usd |
CY2023Q1 | QIND |
Payable Related Party Current
PayableRelatedPartyCurrent
|
81000000 | usd |
CY2022Q4 | QIND |
Payable Related Party Current
PayableRelatedPartyCurrent
|
81000000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1268723 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
46162 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
102872556 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
100134714 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
13703606 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
13696729 | usd |
CY2023Q1 | us-gaap |
Loans Payable To Bank Current
LoansPayableToBankCurrent
|
12371221 | usd |
CY2022Q4 | us-gaap |
Loans Payable To Bank Current
LoansPayableToBankCurrent
|
12378098 | usd |
CY2023Q1 | us-gaap |
Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
|
1938281 | usd |
CY2022Q4 | us-gaap |
Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
|
1953853 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
28013108 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
28028680 | usd |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
102883709 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
102883709 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
102883709 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
102883709 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |