2023 Q2 Form 10-Q Financial Statement

#000121390023039835 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $202.5K $122.0K
YoY Change 65.98%
Cost Of Revenue $0.00
YoY Change
Gross Profit -$97.50K $14.53K $11.90K
YoY Change -587.25% 22.13%
Gross Profit Margin 7.17% 9.75%
Selling, General & Admin $649.9K $777.9K $547.7K
YoY Change 20.91% 42.04% -75.43%
% of Gross Profit 5354.56% 4604.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $229.9K $158.9K $308.2K
YoY Change 11.95% -48.46% -36.82%
% of Gross Profit 1093.62% 2591.26%
Operating Expenses $649.9K $777.9K $547.6K
YoY Change 20.91% 42.04% -75.43%
Operating Profit -$747.4K -$763.3K -$535.8K
YoY Change 44.42% 42.48%
Interest Expense -$422.2K -$146.0K $386.0K
YoY Change -241.9% -137.83% -1427.37%
% of Operating Profit
Other Income/Expense, Net -$422.2K -$146.0K $0.00
YoY Change -241.89% -100.0%
Pretax Income -$1.170M -$909.4K -$149.8K
YoY Change 431.8% 507.21% -97.1%
Income Tax $30.00K $12.88K
% Of Pretax Income
Net Earnings -$1.170M -$939.4K -$162.6K
YoY Change 431.8% 477.57% -96.85%
Net Earnings / Revenue -463.88% -133.31%
Basic Earnings Per Share -$0.22 -$0.17 -$0.03
Diluted Earnings Per Share -$0.22 -$0.17 -$304.90
COMMON SHARES
Basic Shares Outstanding 5.332M shares 5.332M shares 5.332M shares
Diluted Shares Outstanding 5.332M shares 5.332M shares 5.332M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $128.5K $126.9K $254.7K
YoY Change -43.68% -50.17% 12.18%
Cash & Equivalents $128.5K $126.9K $254.7K
Short-Term Investments
Other Short-Term Assets $33.36K $17.92K $26.69K
YoY Change 12.89% -32.86% 998.35%
Inventory
Prepaid Expenses $33.36K
Receivables $15.41K
Other Receivables $0.00
Total Short-Term Assets $161.9K $144.8K $296.8K
YoY Change -37.19% -51.2% -66.39%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $4.042M $4.272M
YoY Change 272.26%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $4.042M $4.272M $1.291M
YoY Change 272.26% 230.86% -37.41%
TOTAL ASSETS
Total Short-Term Assets $161.9K $144.8K $296.8K
Total Long-Term Assets $4.042M $4.272M $1.291M
Total Assets $4.204M $4.417M $1.588M
YoY Change 212.91% 178.15% -46.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $206.4K $171.4K $147.4K
YoY Change 60.68% 16.27% -94.1%
Accrued Expenses $1.254M $1.040M $577.6K
YoY Change 85.94% 80.04% 100.16%
Deferred Revenue
YoY Change
Short-Term Debt $10.03M $9.535M $4.601M
YoY Change 30.66% 107.26% 73.81%
Long-Term Debt Due $2.797M $2.797M $2.806M
YoY Change -0.22% -0.33% 0.03%
Total Short-Term Liabilities $14.64M $13.70M $9.296M
YoY Change 58.35% 47.34% -18.76%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $150.0K $149.2K
YoY Change 1.08% 0.54% -3.72%
Other Long-Term Liabilities $53.67K $53.67K $190.0K
YoY Change -71.75% -71.75% -72.15%
Total Long-Term Liabilities $203.7K $203.7K $339.2K
YoY Change -39.81% -39.95% -59.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.64M $13.70M $9.296M
Total Long-Term Liabilities $203.7K $203.7K $339.2K
Total Liabilities $14.85M $13.90M $9.636M
YoY Change 54.89% 44.27% -21.54%
SHAREHOLDERS EQUITY
Retained Earnings -$28.30M -$27.13M
YoY Change 9.61%
Common Stock $160.00 $160.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.64M -$9.484M -$8.048M
YoY Change
Total Liabilities & Shareholders Equity $4.204M $4.417M $1.588M
YoY Change 212.91% 178.15% -46.1%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.170M -$939.4K -$162.6K
YoY Change 431.8% 477.57% -96.85%
Depreciation, Depletion And Amortization $229.9K $158.9K $308.2K
YoY Change 11.95% -48.46% -36.82%
Cash From Operating Activities -$490.2K -$607.8K -$210.2K
YoY Change 66.94% 189.21% -31.29%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $3.300M -$1.060M
YoY Change -411.32% 202.86%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$3.300M -$1.060M
YoY Change 211.32% 202.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 491.7K $3.944M 1.260M
YoY Change 84.11% 213.03% 98.41%
NET CHANGE
Cash From Operating Activities -490.2K -$607.8K -210.2K
Cash From Investing Activities 0.000 -$3.300M -1.060M
Cash From Financing Activities 491.7K $3.944M 1.260M
Net Change In Cash 1.600K $36.31K -10.17K
YoY Change -106.04% -456.98% -51.22%
FREE CASH FLOW
Cash From Operating Activities -$490.2K -$607.8K -$210.2K
Capital Expenditures $0.00 $3.300M -$1.060M
Free Cash Flow -$490.2K -$3.908M $849.8K
YoY Change 66.94% -559.84% 1827.05%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Revenue Recognition</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Patent Licensing Fees</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers”. Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Under Topic 606, revenue is recognized when there is a contract which has commercial substance which is approved by both parties and identifies the rights of the parties and the payment terms.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the periods presented, revenue contracts executed by the Company primarily provided for the payment of contractually determined, one-time, paid-up license fees in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company’s operating subsidiaries as part of the settlement of litigation commenced by the Company’s subsidiaries. Intellectual property rights granted included the following, as applicable: (i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation. The intellectual property rights granted were perpetual in nature, extending until the legal expiration date of the related patents. The individual intellectual property rights are not accounted for as separate performance obligations, as (a) the nature of the promise, within the context of the contract, is to transfer combined items to which the promised intellectual property rights are inputs and (b) the Company’s promise to transfer each individual intellectual property right described above to the customer is not separately identifiable from other promises to transfer intellectual property rights in the contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since the promised intellectual property rights are not individually distinct, the Company combined each individual IP right in the contract into a bundle of IP rights that is distinct, and accounted for all of the intellectual property rights promised in the contract as a single performance obligation. The intellectual property rights granted were “functional IP rights” that have significant standalone functionality. The Company’s subsequent activities do not substantively change that functionality and do not significantly affect the utility of the IP to which the licensee has rights. The Company’s subsidiaries have no further obligation with respect to the grant of intellectual property rights, including no express or implied obligation to maintain or upgrade the technology, or provide future support or services. The contracts provide for the grant (i.e., transfer of control) of the licenses, covenants-not-to-sue, releases, and other significant deliverables upon execution of the contract. Licensees legally obtain control of the intellectual property rights upon execution of the contract. As such, the earnings process is complete and revenue is recognized upon the execution of the contract, when collectability is probable and all other revenue recognition criteria have been met. Revenue contracts generally provide for payment of contractual amounts within 30 to 90 days of execution of the contract. Contractual payments made by licensees are generally non-refundable. The Company does not have any significant payment terms, as payment is received shortly after goods are delivered or services are provided, therefore there is no significant financing component or consideration payable to the customer in these transactions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p>
CY2022Q1 us-gaap Other Income Tax Expense Benefit Continuing Operations
OtherIncomeTaxExpenseBenefitContinuingOperations
13000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Concentration of Credit Risk</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company maintains its cash in bank deposit accounts, which at times, may exceed federally insured limits. The Company has not experienced any such losses in these accounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 qprc Warrants Granted
WarrantsGranted
962463 shares
CY2023Q1 qprc Purchase Agreement Stock Options
PurchaseAgreementStockOptions
500000 shares
CY2023Q1 qprc Stock Options Granted To Officers And Consultants
StockOptionsGrantedToOfficersAndConsultants
600000 usd
CY2023Q1 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
27129000 usd
CY2023Q1 qprc Negative Working Capital
NegativeWorkingCapital
13552000 usd
CY2023Q1 qprc Due To Other Related Partie Current And Noncurrent
DueToOtherRelatedPartieCurrentAndNoncurrent
138000 usd
CY2022Q4 qprc Due To Other Related Partie Current And Noncurrent
DueToOtherRelatedPartieCurrentAndNoncurrent
138000 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.10 pure
CY2023Q1 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
299000 usd
CY2022 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
296000 usd
CY2023Q1 us-gaap Obligation With Joint And Several Liability Arrangement Amount Outstanding
ObligationWithJointAndSeveralLiabilityArrangementAmountOutstanding
5597344 usd
CY2022Q4 us-gaap Obligation With Joint And Several Liability Arrangement Amount Outstanding
ObligationWithJointAndSeveralLiabilityArrangementAmountOutstanding
5453204 usd
CY2023Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
806000 usd
CY2023Q1 us-gaap Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
56000 usd
CY2023Q1 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
713000 usd
CY2022Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
600000 usd
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
962463 shares
CY2023Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.10 pure
CY2022Q2 qprc Purchase Agreement
PurchaseAgreement
92000 usd
CY2022Q3 qprc Purchase Price Percentage
PurchasePricePercentage
0.50 pure
CY2022Q3 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
350000 usd
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
35000 usd
CY2023Q1 qprc Funding Liability
fundingLiability
14000 usd
CY2023Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4000000 usd
CY2023Q1 qprc Requested And Received
RequestedAndReceived
500000 usd
CY2023Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
3300000 usd
CY2023Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
25000000 usd
CY2023Q1 qprc Proceeds From Finance
ProceedsFromFinance
3300000 usd
CY2023Q1 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
2796500 usd
CY2022Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
2796500 usd
CY2015Q4 qprc Purchase Agreement
PurchaseAgreement
4672810 usd
CY2023Q1 us-gaap Notes Issued1
NotesIssued1
250000 usd
CY2023Q1 qprc Loss On Debt Conversion
LossOnDebtConversion
305556 usd
CY2023Q1 qprc Asset Acquired Description
AssetAcquiredDescription
Pursuant to the MPA-NA, until the TMPO has been paid in full, Intelligent Partners is entitled to receive 10% of the net proceeds realized from new assets acquired by the Company. If, in any calendar quarter, net proceeds realized exceed $1,000,000, Intelligent Partners’ entitlement for that quarter only shall increase to 30% on the portion of net proceeds in excess of $1,000,000 but less than $3,000,000. If in the same calendar quarter, net proceeds exceed $3,000,000, Intelligent Partners’ entitlement for that quarter only shall increase to 50% on the portion of net proceeds in excess of $3,000,000.
CY2023Q1 qprc Payments For Loan
PaymentsForLoan
275000 usd
CY2023Q1 qprc Obligation Excess
ObligationExcess
1000000 usd
CY2020Q2 us-gaap Derivative Maturity Dates
DerivativeMaturityDates
2050-05-14
CY2020Q1 qprc Deducted Loan Amount
DeductedLoanAmount
100 usd
CY2020Q1 qprc Loan Origination Cost
loanOriginationCost
1000 usd
CY2023Q1 us-gaap Line Of Credit Facility Frequency Of Payment And Payment Terms
LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms
$53,665
CY2022 us-gaap Line Of Credit Facility Frequency Of Payment And Payment Terms
LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms
$53,665
CY2023Q1 qprc Acquisition Funding
AcquisitionFunding
95000 usd
CY2023Q1 qprc Funder Received
FunderReceived
53665 usd
CY2021Q1 us-gaap Shares Issued
SharesIssued
962463 shares
CY2021Q1 qprc Warrant Yield Percentage
WarrantYieldPercentage
0.10 pure
CY2021Q1 qprc Aggregate Number Of Outstanding Shares
AggregateNumberOfOutstandingShares
0.10 pure
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
154000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
145000 usd
CY2023Q1 qprc Fair Value Assumption Expected Volatility Rate
FairValueAssumptionExpectedVolatilityRate
3.87 pure
CY2022 qprc Fair Value Assumption Expected Volatility Rate
FairValueAssumptionExpectedVolatilityRate
3.74 pure
CY2023Q1 qprc Fair Value Assumption Exercise Price
FairValueAssumptionExercisePrice
0.0054 pure
CY2022 qprc Fair Value Assumption Exercise Price
FairValueAssumptionExercisePrice
0.0054 pure
CY2023Q1 qprc Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.0137 pure
CY2022 qprc Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.0137 pure
CY2023Q1 qprc Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P7Y10M24D
CY2022 qprc Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P8Y1M6D
CY2023Q1 us-gaap Impaired Intangible Asset Description
ImpairedIntangibleAssetDescription
●patents (which were fully amortized at the date of acquisition) acquired in January 2018 pursuant to an agreement with to Intellectual Ventures Assets 62 LLC and Intellectual Ventures Assets 71 LLC “(IV 62/71”), pursuant to which CXT has an obligation to distribute 50% of net revenues to IV 62/71; ●patents (which were fully amortized at the date of acquisition) acquired in January 2018 by Photonic Imaging Solutions Inc. (“PIS”) from Intellectual Ventures Assets 64 LLC (“IV 64”) pursuant to which PIS is to pay IV 64 (a) 70% of the first $1,500,000 of net revenue, (b) 30% of the next $1,500,000 of net revenue and (c) 50% of net revenue in excess of $3,000,000;  ●patents (which were fully amortized at the date of acquisition) acquired in May 2020 for a purchase price of $95,000 pursuant to an agreement with Texas Technology Ventures 2, LLP (“TTV”), pursuant to which of the Company retains the first $230,000 of net proceeds, as defined in the agreement, after which the company has an obligation to distribute 50% of net proceeds to TTV.  ●patents (which were fully amortized at the date of acquisition) acquired in February 2021 pursuant to an agreement with PKT for a purchase price of $350,000, pursuant to which $350,000 was paid at closing, and upon the realization of gross proceeds, as defined in the agreement, the Company shall make a subsequent or payments in the aggregate amount of $93,900, representing reimbursement to PKT, as the prosecuting attorney, for legal fees associated with prosecution of the portfolio, such reimbursement shall be due and payable to PKT from time to time as gross proceeds are realized, if any, and paid to PKT along with and in proportion to reimbursement to other third parties of costs incurred in realizing gross proceeds. Thereafter, PKT is entitled to a percentage of gross proceeds realized, if any.  ●patents (which were fully depreciated at the date of acquisition) acquired in May 2021 for a purchase price of $250,000. 
CY2022Q4 qprc Warrant Liability
WarrantLiability
145428 usd
CY2023Q1 qprc Gain On Subsequent Measurementin Dollars
GainOnSubsequentMeasurementinDollars
8566 usd
CY2023Q1 qprc Warrant Liability
WarrantLiability
153994 usd
CY2023Q1 qprc Patents
Patents
6057000 usd
CY2022 qprc Patents
Patents
2757000 usd
CY2023Q1 qprc Finite Lived Intangible Assets Total
FiniteLivedIntangibleAssetsTotal
6057000 usd
CY2022Q4 qprc Finite Lived Intangible Assets Total
FiniteLivedIntangibleAssetsTotal
2757000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1784718 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1625846 usd
CY2023Q1 qprc Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
4272282 usd
CY2022Q4 qprc Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
1131154 usd
CY2023Q1 qprc Weighted Average Amortization Period Years
WeightedAverageAmortizationPeriodYears
P6Y1M28D
CY2022 qprc Weighted Average Amortization Period Years
WeightedAverageAmortizationPeriodYears
P2Y5M23D
CY2021Q4 qprc Purchase Price
PurchasePrice
550000 usd
CY2021Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P11Y
CY2022Q1 qprc Purchase Price
PurchasePrice
1060000 usd
CY2022Q3 qprc Purchase Price
PurchasePrice
92000 usd
CY2023Q1 qprc Purchase Price
PurchasePrice
3300000 usd
CY2023Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
159000 usd
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
308000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
626610 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
633222 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
537466 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
496942 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
461663 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
1516380 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4272282 usd
CY2023Q1 qprc Noncontrolling Interest
NoncontrollingInterest
228 usd
CY2022 qprc Noncontrolling Interest
NoncontrollingInterest
228 usd
CY2023Q1 qprc Noncontrolling Interest
NoncontrollingInterest
228 usd
CY2022 qprc Noncontrolling Interest
NoncontrollingInterest
228 usd
CY2023Q1 qprc Cost Of Service
CostOfService
62000 usd
CY2022Q1 qprc Cost Of Service
CostOfService
28000 usd
CY2023Q1 qprc Annual Bonus Compensation Equal Percentage
AnnualBonusCompensationEqualPercentage
0.30 pure
CY2023Q1 us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
500000 usd
CY2023Q4 qprc Compensation Percentage
CompensationPercentage
0.20 pure
CY2023Q1 us-gaap Deposits
Deposits
16500 usd
CY2022Q1 us-gaap Deposits
Deposits
14500 usd
CY2023Q2 qprc Operating Expense
OperatingExpense
500000 usd
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
QUEST PATENT RESEARCH CORP
CY2023Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
usd
CY2022Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
CY2022Q1 qprc Payments To Acquire Purchase Price Of Patents
PaymentsToAcquirePurchasePriceOfPatents
usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q1 qprc Fair Value Assumption Expected Dividend Rate
FairValueAssumptionExpectedDividendRate
pure
CY2022 qprc Fair Value Assumption Expected Dividend Rate
FairValueAssumptionExpectedDividendRate
pure
CY2023Q1 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
usd
CY2022 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
usd
CY2023Q1 us-gaap Noncontrolling Interest In Variable Interest Entity
NoncontrollingInterestInVariableInterestEntity
usd
CY2022Q4 us-gaap Noncontrolling Interest In Variable Interest Entity
NoncontrollingInterestInVariableInterestEntity
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000824416

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