2024 Q3 Form 10-Q Financial Statement

#000184450524000045 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $956.0K $1.714M $0.00
YoY Change
Cost Of Revenue $350.7K $839.5K $3.121K
YoY Change 1373.45% 26797.92%
Gross Profit $605.3K $874.6K $62.00
YoY Change 70448.14% 1410466.13%
Gross Profit Margin 63.32% 51.02%
Selling, General & Admin $2.007M $2.170M $1.637M
YoY Change 157.6% 32.52% 68.11%
% of Gross Profit 331.62% 248.07% 2640483.87%
Research & Development $925.2K $925.1K $349.7K
YoY Change 196.71% 164.57%
% of Gross Profit 152.85% 105.78% 563962.9%
Depreciation & Amortization $19.51K $42.23K $69.57K
YoY Change -74.45% -39.29%
% of Gross Profit 3.22% 4.83% 112201.61%
Operating Expenses $2.932M $3.095M $1.637M
YoY Change 276.34% 89.03% 68.11%
Operating Profit -$2.327M -$2.220M -$1.637M
YoY Change 198.66% 35.61% 68.11%
Interest Expense -$1.455M -$1.095M $56.27K
YoY Change -2502.64% -2046.17% -81.25%
% of Operating Profit
Other Income/Expense, Net $17.00K $336.6K $13.45K
YoY Change -180.97% 2401.49% -89.42%
Pretax Income -$3.619M -$1.249M -$1.312M
YoY Change 724.88% -4.79% 140.0%
Income Tax $104.7K
% Of Pretax Income
Net Earnings -$3.619M -$1.249M -$1.416M
YoY Change 542.28% -11.82% 122.67%
Net Earnings / Revenue -378.62% -72.86%
Basic Earnings Per Share -$0.17 -$0.30 -$0.26
Diluted Earnings Per Share -$0.17 -$0.30 -$0.26
COMMON SHARES
Basic Shares Outstanding 21.44M shares 21.44M shares 3.019M
Diluted Shares Outstanding 21.44M shares 21.44M shares 6.540M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.544M $4.581M $7.480K
YoY Change 1167.27% 61145.19% -86.44%
Cash & Equivalents $1.564M $4.601M $7.480K
Short-Term Investments
Other Short-Term Assets $795.6K $889.5K $46.75K
YoY Change 9795.4% 1802.61% -91.18%
Inventory $3.182M $3.355M
Prepaid Expenses
Receivables $256.9K $669.1K
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.778M $9.494M $54.23K
YoY Change 4348.39% 17408.99% -90.74%
LONG-TERM ASSETS
Property, Plant & Equipment $122.2K $141.7K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.50M
YoY Change -86.03%
Other Assets $39.15K $39.15K
YoY Change
Total Long-Term Assets $1.182M $1.286M $32.50M
YoY Change -94.86% -96.04% -86.03%
TOTAL ASSETS
Total Short-Term Assets $5.778M $9.494M $54.23K
Total Long-Term Assets $1.182M $1.286M $32.50M
Total Assets $6.960M $10.78M $32.55M
YoY Change -69.92% -66.88% -86.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $768.3K $549.6K $453.9K
YoY Change 23.45% 21.08% 63.11%
Accrued Expenses $3.364M $4.192M $703.6K
YoY Change 389.34% 495.81% -8.62%
Deferred Revenue $19.84K $31.75K
YoY Change
Short-Term Debt $0.00 $5.409M $3.448M
YoY Change -100.0% 56.89% 698.7%
Long-Term Debt Due $887.3K $4.294M
YoY Change
Total Short-Term Liabilities $5.434M $15.27M $8.023M
YoY Change -39.16% 90.3% 409.89%
LONG-TERM LIABILITIES
Long-Term Debt $8.878M $36.70K $0.00
YoY Change
Other Long-Term Liabilities $507.0K $0.00 $2.776M
YoY Change -81.79% -100.0% -70.01%
Total Long-Term Liabilities $507.0K $0.00 $2.776M
YoY Change -81.79% -100.0% -70.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.434M $15.27M $8.023M
Total Long-Term Liabilities $507.0K $0.00 $2.776M
Total Liabilities $16.61M $16.94M $10.80M
YoY Change 41.8% 56.87% -0.28%
SHAREHOLDERS EQUITY
Retained Earnings -$32.12M -$28.50M -$15.97M
YoY Change 94.29% 78.49% 57.37%
Common Stock $2.144K $2.144K $5.313M
YoY Change -99.96% -99.96% 810970.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.652M -$6.159M -$10.66M
YoY Change
Total Liabilities & Shareholders Equity $6.960M $10.78M $32.55M
YoY Change -69.92% -66.88% -86.04%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$3.619M -$1.249M -$1.416M
YoY Change 542.28% -11.82% 122.67%
Depreciation, Depletion And Amortization $19.51K $42.23K $69.57K
YoY Change -74.45% -39.29%
Cash From Operating Activities -$1.851M -$979.6K -$543.7K
YoY Change 695.27% 80.18% 297.01%
INVESTING ACTIVITIES
Capital Expenditures $7.610K $26.98K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$300.0K
YoY Change
Cash From Investing Activities -$7.610K -$26.98K -$300.0K
YoY Change -100.08% -91.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.178M -32.55K 495.0K
YoY Change -87.68% -106.58%
NET CHANGE
Cash From Operating Activities -1.851M -979.6K -543.7K
Cash From Investing Activities -7.610K -26.98K -300.0K
Cash From Financing Activities -1.178M -32.55K 495.0K
Net Change In Cash -3.037M -1.039M -348.7K
YoY Change -2755.38% 198.02% 154.61%
FREE CASH FLOW
Cash From Operating Activities -$1.851M -$979.6K -$543.7K
Capital Expenditures $7.610K $26.98K
Free Cash Flow -$1.859M -$1.007M
YoY Change

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CY2023Q2 qti Number Of Restatement
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