2024 Q2 Form 10-Q Financial Statement

#000145368724000082 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $33.45M $5.840M
YoY Change 537.17% -1.65%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.027M $9.450M
YoY Change 15.1% 65.94%
% of Gross Profit
Research & Development $12.66M $9.738M
YoY Change -28.8% -47.71%
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $19.69M $19.19M
YoY Change -17.58% -21.1%
Operating Profit $13.76M -$13.35M
YoY Change -173.81% -27.38%
Interest Expense $1.195M $0.00
YoY Change 58.91% -100.0%
% of Operating Profit 8.69%
Other Income/Expense, Net $292.0K $508.0K
YoY Change 19.18% 99.22%
Pretax Income $13.84M -$56.82M
YoY Change -221.51% 162.31%
Income Tax
% Of Pretax Income
Net Earnings $13.84M -$56.82M
YoY Change -221.51% 162.31%
Net Earnings / Revenue 41.37% -973.01%
Basic Earnings Per Share $0.58 -$10.50
Diluted Earnings Per Share $0.54 -$10.50
COMMON SHARES
Basic Shares Outstanding 17.80M shares 161.9M shares
Diluted Shares Outstanding 17.79M shares 5.414M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.23M $103.4M
YoY Change -22.14% -17.87%
Cash & Equivalents $87.23M $103.4M
Short-Term Investments
Other Short-Term Assets $2.044M $3.315M
YoY Change -52.0% -12.42%
Inventory
Prepaid Expenses
Receivables $32.04M $2.006M
Other Receivables $3.472M $2.370M
Total Short-Term Assets $124.8M $111.1M
YoY Change 1.68% -19.71%
LONG-TERM ASSETS
Property, Plant & Equipment $6.672M $2.402M
YoY Change 157.31% -13.13%
Goodwill $48.16M $48.16M
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M $2.000M
YoY Change 0.0% 0.0%
Other Assets $1.669M $1.377M
YoY Change 18.12% 3.15%
Total Long-Term Assets $223.0M $214.1M
YoY Change 1228.62% 1137.49%
TOTAL ASSETS
Total Short-Term Assets $124.8M $111.1M
Total Long-Term Assets $223.0M $214.1M
Total Assets $347.7M $325.2M
YoY Change 149.26% 108.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.862M $2.517M
YoY Change 971.91% 136.78%
Accrued Expenses $10.62M $8.927M
YoY Change -17.73% -4.49%
Deferred Revenue $0.00 $412.0K
YoY Change -100.0% -90.26%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.12M $36.65M
YoY Change -11.07% 38.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $407.2M $389.5M
YoY Change 1217.72% 915.51%
Total Long-Term Liabilities $407.2M $389.5M
YoY Change 811.21% 613.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.12M $36.65M
Total Long-Term Liabilities $407.2M $389.5M
Total Liabilities $449.2M $442.0M
YoY Change 506.55% 444.92%
SHAREHOLDERS EQUITY
Retained Earnings -$657.6M -$671.5M
YoY Change 53.65% 61.19%
Common Stock $2.000K $1.000K
YoY Change -86.67% -93.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$101.5M -$116.8M
YoY Change
Total Liabilities & Shareholders Equity $347.7M $325.2M
YoY Change 149.26% 108.88%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $13.84M -$56.82M
YoY Change -221.51% 162.31%
Depreciation, Depletion And Amortization $200.0K $200.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$14.45M -$15.92M
YoY Change 45.99% 81.6%
INVESTING ACTIVITIES
Capital Expenditures $1.587M $602.0K
YoY Change 13125.0% 363.08%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.587M -$602.0K
YoY Change 13125.0% -102.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.0K $43.03M
YoY Change -104.64% 28779.87%
NET CHANGE
Cash From Operating Activities -14.45M -$15.92M
Cash From Investing Activities -1.587M -$602.0K
Cash From Financing Activities 120.0K $43.03M
Net Change In Cash -15.91M $26.51M
YoY Change 27.38% 36.02%
FREE CASH FLOW
Cash From Operating Activities -$14.45M -$15.92M
Capital Expenditures $1.587M $602.0K
Free Cash Flow -$16.03M -$16.52M
YoY Change 61.84% 85.71%

Facts In Submission

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CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2024Q1 rnac Lessee Operating Lease Liability To Be Paid After Year Four
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 rnac Settlement Of Derivative Liability Shares
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CY2023Q4 rnac Settlement Of Derivative Liability Shares
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CY2024Q1 rnac Settlement Of Derivative Liability Shares
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CY2024Q1 rnac Number Of Business Days
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CY2024Q1 rnac Stock Issued During Period Shares Warrants Exercised
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CY2024Q1 rnac Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercises
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43.80
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Revenue Remaining Performance Obligation
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CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
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100000 usd
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100000 usd
CY2024Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
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0.79
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RestructuringCharges
300000 usd
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3300000 usd
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CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
292000 usd
CY2024Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
3320000 usd
CY2024Q1 us-gaap Restructuring Reserve
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868000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false

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Financial_Report.xlsx Edgar Link pending
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exhibit311_3312024.htm Edgar Link pending
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