2020 Q3 Form 10-Q Financial Statement

#000156459020053877 Filed on November 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $4.767M $4.830M
YoY Change -1.3% -8.11%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.334M $2.550M
YoY Change 30.75% -21.39%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $694.0K $797.0K
YoY Change -12.92% -29.22%
% of Gross Profit
Operating Expenses $4.137M $3.538M
YoY Change 16.93% -23.5%
Operating Profit $630.0K $1.292M
YoY Change -51.24% 104.75%
Interest Expense $692.0K $1.157M
YoY Change -40.19% -35.11%
% of Operating Profit 109.84% 89.55%
Other Income/Expense, Net -$701.0K $4.418M
YoY Change -115.87% -183.41%
Pretax Income -$71.00K $5.710M
YoY Change -101.24% -222.37%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$73.00K $5.811M
YoY Change -101.26% -228.88%
Net Earnings / Revenue -1.53% 120.31%
Basic Earnings Per Share
Diluted Earnings Per Share -$43.25K $3.443M
COMMON SHARES
Basic Shares Outstanding 1.688M
Diluted Shares Outstanding 1.688M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.646M $3.421M
YoY Change 35.81% 81.58%
Cash & Equivalents $4.600M $3.400M
Short-Term Investments
Other Short-Term Assets $3.505M $1.396M
YoY Change 151.07% 1.75%
Inventory
Prepaid Expenses
Receivables $1.800M $912.0K
Other Receivables $464.0K $687.0K
Total Short-Term Assets $10.41M $6.416M
YoY Change 62.25% 29.04%
LONG-TERM ASSETS
Property, Plant & Equipment $87.75M $55.51M
YoY Change 58.07% -29.35%
Goodwill
YoY Change
Intangibles $13.26M
YoY Change
Long-Term Investments
YoY Change
Other Assets $517.0K $74.00K
YoY Change 598.65% -97.97%
Total Long-Term Assets $99.92M $108.0M
YoY Change -7.44% 12.03%
TOTAL ASSETS
Total Short-Term Assets $10.41M $6.416M
Total Long-Term Assets $99.92M $108.0M
Total Assets $110.3M $114.4M
YoY Change -3.53% 12.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.939M $3.405M
YoY Change -13.69% -24.37%
Accrued Expenses $2.288M $8.960M
YoY Change -74.46% 112.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.747M
YoY Change -93.21%
Total Short-Term Liabilities $5.227M $14.11M
YoY Change -62.96% -59.06%
LONG-TERM LIABILITIES
Long-Term Debt $54.80M $54.03M
YoY Change 1.42% -2.05%
Other Long-Term Liabilities $38.20M $1.247M
YoY Change 2963.43% -68.25%
Total Long-Term Liabilities $54.80M $55.28M
YoY Change -0.87% -6.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.227M $14.11M
Total Long-Term Liabilities $54.80M $55.28M
Total Liabilities $98.23M $103.4M
YoY Change -5.0% 10.47%
SHAREHOLDERS EQUITY
Retained Earnings -$113.4M
YoY Change -2.67%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.11M $10.97M
YoY Change
Total Liabilities & Shareholders Equity $110.3M $114.4M
YoY Change -3.53% 12.86%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$73.00K $5.811M
YoY Change -101.26% -228.88%
Depreciation, Depletion And Amortization $694.0K $797.0K
YoY Change -12.92% -29.22%
Cash From Operating Activities $1.000M $750.0K
YoY Change 33.33% -1003.61%
INVESTING ACTIVITIES
Capital Expenditures -$52.00K -$148.0K
YoY Change -64.86% -3800.0%
Acquisitions
YoY Change
Other Investing Activities $2.687M
YoY Change
Cash From Investing Activities -$52.00K $2.539M
YoY Change -102.05% 63375.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -379.0K -1.054M
YoY Change -64.04% 70.83%
NET CHANGE
Cash From Operating Activities 1.000M 750.0K
Cash From Investing Activities -52.00K 2.539M
Cash From Financing Activities -379.0K -1.054M
Net Change In Cash 569.0K 2.235M
YoY Change -74.54% -421.12%
FREE CASH FLOW
Cash From Operating Activities $1.000M $750.0K
Capital Expenditures -$52.00K -$148.0K
Free Cash Flow $1.052M $898.0K
YoY Change 17.15% -1132.18%

Facts In Submission

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us-gaap Use Of Estimates
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<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.</p>
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rhe Number Of Assisted Living Facilities
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400000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
200000
CY2020Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
134000
CY2019Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
129000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
379000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
358000
CY2020Q3 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
134000
CY2019Q3 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
129000
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
379000
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
358000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
39800000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
41500000
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0798
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
71000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
CY2020Q3 rhe Antidilutive Securities Excluded From Computation Of Earnings Per Share Intrinsic Value
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareIntrinsicValue
0
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4600000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
54799000
CY2020Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1400000
CY2020Q3 rhe Long Term Debt Maturities Repayments Of Principal In Next Twelve Months Subject To Non Default In Payments
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsSubjectToNonDefaultInPayments
2200000
CY2020Q3 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
95000
CY2020Q3 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1589000
CY2019Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
2251000
CY2020Q3 rhe Escrow Deposit Current
EscrowDepositCurrent
1099000
CY2019Q4 rhe Escrow Deposit Current
EscrowDepositCurrent
963000
CY2020Q3 us-gaap Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
317000
CY2019Q4 us-gaap Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
317000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
73662000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
73971000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20565000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
19299000
CY2020Q3 us-gaap Depreciation
Depreciation
537000
CY2019Q3 us-gaap Depreciation
Depreciation
571000
us-gaap Depreciation
Depreciation
1631000
us-gaap Depreciation
Depreciation
1906000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
157000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
226000
CY2020Q3 rhe Finite And Indefinite Lived Intangible Assets Fully Amortized Asset Adjustments Gross
FiniteAndIndefiniteLivedIntangibleAssetsFullyAmortizedAssetAdjustmentsGross
-4552000
CY2020Q3 rhe Finite Lived Intangible Assets Fully Amortized Asset Adjustments Accumulated Amortization
FiniteLivedIntangibleAssetsFullyAmortizedAssetAdjustmentsAccumulatedAmortization
4552000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3691000
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
13262000
CY2018Q4 us-gaap Goodwill
Goodwill
2105000
us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
0
CY2019 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
520000
rhe Operating Leases Number Of Skilled Nursing Facilities Leased
OperatingLeasesNumberOfSkilledNursingFacilitiesLeased
9
rhe Number Of Subleased Facilities
NumberOfSubleasedFacilities
9
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityFutureRentalPaymentsRemainderOfFiscalYear
1615000
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments Due Year One
LesseeOperatingLeaseLiabilityFutureRentalPaymentsDueYearOne
6551000
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments Due Year Two
LesseeOperatingLeaseLiabilityFutureRentalPaymentsDueYearTwo
6691000
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments Due Year Three
LesseeOperatingLeaseLiabilityFutureRentalPaymentsDueYearThree
6823000
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments Due Year Four
LesseeOperatingLeaseLiabilityFutureRentalPaymentsDueYearFour
6958000
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments Due After Year Four
LesseeOperatingLeaseLiabilityFutureRentalPaymentsDueAfterYearFour
19832000
CY2020Q3 rhe Lessee Operating Lease Liability Future Rental Payments
LesseeOperatingLeaseLiabilityFutureRentalPayments
48470000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability Remainder Of Fiscal Year
LesseeOperatingLeaseAccretionOfLeaseLiabilityRemainderOfFiscalYear
21000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability Due Year One
LesseeOperatingLeaseAccretionOfLeaseLiabilityDueYearOne
399000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability Due Year Two
LesseeOperatingLeaseAccretionOfLeaseLiabilityDueYearTwo
887000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability Due Year Three
LesseeOperatingLeaseAccretionOfLeaseLiabilityDueYearThree
1358000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability Due Year Four
LesseeOperatingLeaseAccretionOfLeaseLiabilityDueYearFour
1811000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability Due After Year Four
LesseeOperatingLeaseAccretionOfLeaseLiabilityDueAfterYearFour
7223000
CY2020Q3 rhe Lessee Operating Lease Accretion Of Lease Liability
LesseeOperatingLeaseAccretionOfLeaseLiability
11699000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1594000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6152000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5804000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5465000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5147000
CY2020Q3 rhe Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
12609000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
36771000
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0798
us-gaap Lessor Operating Lease Description
LessorOperatingLeaseDescription
As of September 30, 2020, the Company leased or subleased 21 facilities (12 owned by the Company and nine leased to the Company), to third-party tenants on a triple net basis, meaning that the lessee (i.e., the third-party tenant of the property) is obligated under the lease or sublease, as applicable, for all costs of operating the property, including insurance, taxes and facility maintenance, as well as the lease or sublease payments, as applicable. The weighted average remaining lease term for our facilities is 7.2 years.
rhe Number Of Leased Or Subleased Facilities
NumberOfLeasedOrSubleasedFacilities
21
us-gaap Lessor Operating Lease Existence Of Option To Extend
LessorOperatingLeaseExistenceOfOptionToExtend
true
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
3965000
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
16100000
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
17273000
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
17588000
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
17448000
CY2020Q3 rhe Lessor Operating Lease Payments To Be Received After Year Four
LessorOperatingLeasePaymentsToBeReceivedAfterYearFour
53319000
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
125693000
CY2020Q3 rhe Accrued Payroll Related Expenses Current
AccruedPayrollRelatedExpensesCurrent
178000
CY2019Q4 rhe Accrued Payroll Related Expenses Current
AccruedPayrollRelatedExpensesCurrent
239000
CY2020Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
404000
CY2019Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
883000
CY2020Q3 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
202000
CY2019Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
453000
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
497000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
208000
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
46000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
966000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
784000
CY2020Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2288000
CY2019Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2613000
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
56216000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
56876000
CY2020Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
1279000
CY2019Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
1364000
CY2020Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
138000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
149000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
54799000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
55363000
CY2020Q3 rhe Debt Instrument Number Of Credit Related Instruments
DebtInstrumentNumberOfCreditRelatedInstruments
18
CY2020Q3 rhe Long Term Debt Maturities Repayments Of Principal In Rolling Year One
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearOne
2199000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
5287000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
1771000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
1856000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
1950000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive
43153000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
100000
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
100000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
2600000
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
3400000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
700000
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
1000000
CY2019Q2 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
28500000
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
21081
CY2020Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0
CY2019Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0

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