2023 Q2 Form 10-Q Financial Statement

#000166357723000264 Filed on May 19, 2023

View on sec.gov

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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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

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qind10q_033123_htm.xml Edgar Link completed
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