2024 Q3 Form 10-Q Financial Statement

#000149315224032282 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $2.172M $2.350M $6.878M
YoY Change -60.19% -41.23% 159.95%
Cost Of Revenue $2.565M $2.499M $4.995M
YoY Change -1.28% -20.76% 198.16%
Gross Profit -$392.9K -$148.9K $1.883M
YoY Change -113.75% -117.62% 94.01%
Gross Profit Margin -18.09% -6.34% 27.38%
Selling, General & Admin $697.7K $1.603M
YoY Change 9.72% 83.03%
% of Gross Profit 85.11%
Research & Development $157.3K $104.4K
YoY Change 46.38% -19.98%
% of Gross Profit 5.55%
Depreciation & Amortization $317.3K $638.4K $711.7K
YoY Change -15.15% 86.83% 242.8%
% of Gross Profit 37.8%
Operating Expenses $473.9K $855.0K $1.707M
YoY Change -60.44% 15.02% 69.67%
Operating Profit -$866.9K -$1.004M $124.0K
YoY Change -152.23% -1086.55% -585.17%
Interest Expense $155.4K $165.7K -$259.0K
YoY Change 14.72% 154.87% 902.24%
% of Operating Profit -208.82%
Other Income/Expense, Net -$3.873M -$165.2K
YoY Change -322.07% 154.13%
Pretax Income -$4.740M -$1.169M -$83.02K
YoY Change -239.25% -3280.3% 35.21%
Income Tax $2.955K $56.60K
% Of Pretax Income
Net Earnings -$4.920M -$1.226M -$83.02K
YoY Change -244.54% -3434.1% 61.52%
Net Earnings / Revenue -226.57% -52.16% -1.21%
Basic Earnings Per Share -$0.05 -$0.01
Diluted Earnings Per Share -$0.05 -$0.01
COMMON SHARES
Basic Shares Outstanding 104.7M shares 101.0M shares 89.69M shares
Diluted Shares Outstanding 103.1M shares 101.6M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.7K $2.177M
YoY Change -65.59% 392.08%
Cash & Equivalents $244.6K $123.7K $2.177M
Short-Term Investments
Other Short-Term Assets $42.20K $115.3K
YoY Change -11.57% 13004.55%
Inventory $725.4K
Prepaid Expenses $29.98K $42.20K $115.3K
Receivables $4.134M $4.389M $7.185M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.105M $6.655M $9.725M
YoY Change 25.26% 136.84% 582.62%
LONG-TERM ASSETS
Property, Plant & Equipment $4.585M $12.03M $13.30M
YoY Change -63.22% 96.04% 120.03%
Goodwill $751.4K $751.4K $751.4K
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.980K $9.980K
YoY Change -50.05% 12.26%
Total Long-Term Assets $5.337M $12.79M $14.06M
YoY Change -63.87% 85.16% 106.64%
TOTAL ASSETS
Total Short-Term Assets $5.105M $6.655M $9.725M
Total Long-Term Assets $5.337M $12.79M $14.06M
Total Assets $10.44M $19.44M $23.79M
YoY Change -44.59% 100.11% 189.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.100M $2.037M $3.714M
YoY Change 18.98% 163.54% 1488.49%
Accrued Expenses $112.1K $54.40K $101.3K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.200M $2.400M
YoY Change 83.33%
Long-Term Debt Due $1.458M $2.617M $2.756M
YoY Change -41.94% 140.24% 108.9%
Total Short-Term Liabilities $4.770M $7.059M $8.971M
YoY Change -10.6% 130.5% 477.66%
LONG-TERM LIABILITIES
Long-Term Debt $2.404M $4.199M $5.250M
YoY Change -59.2% 21.43% 40.45%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.404M $4.199M $5.250M
YoY Change -59.2% 21.43% 40.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.770M $7.059M $8.971M
Total Long-Term Liabilities $2.404M $4.199M $5.250M
Total Liabilities $7.174M $11.26M $14.22M
YoY Change -36.1% 72.66% 168.78%
SHAREHOLDERS EQUITY
Retained Earnings -$54.44M -$49.52M -$47.08M
YoY Change 15.84% -1.75% -6.24%
Common Stock $57.71M $57.71M $56.65M
YoY Change 5.66% 7.66% 6.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.268M $8.184M $9.567M
YoY Change
Total Liabilities & Shareholders Equity $10.44M $19.44M $23.79M
YoY Change -44.59% 100.11% 189.03%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$4.920M -$1.226M -$83.02K
YoY Change -244.54% -3434.1% 61.52%
Depreciation, Depletion And Amortization $317.3K $638.4K $711.7K
YoY Change -15.15% 86.83% 242.8%
Cash From Operating Activities -$550.5K -$636.1K
YoY Change -48.75% 1704.99%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $16.28K
YoY Change -100.0% -99.64%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$16.28K
YoY Change -100.0% -99.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.500K 1.803M
YoY Change -99.48% -53.66%
NET CHANGE
Cash From Operating Activities -550.5K -636.1K
Cash From Investing Activities 0.000 -16.28K
Cash From Financing Activities 6.500K 1.803M
Net Change In Cash -544.0K 1.151M
YoY Change -516.72% -261.04%
FREE CASH FLOW
Cash From Operating Activities -$550.5K -$636.1K
Capital Expenditures $0.00 $16.28K
Free Cash Flow -$550.5K -$652.4K
YoY Change -50.52% -85.83%

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CY2023Q2 us-gaap Stock Issued During Period Value New Issues
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us-gaap Stock Issued During Period Value New Issues
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StockholdersEquity
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Proceeds From Repayments Of Lines Of Credit
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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<p id="xdx_84D_eus-gaap--UseOfEstimates_zL7roH7RbBK7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_862_zTmLIYXoPUTi">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 us-gaap Billed Contract Receivables
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us-gaap Provision For Doubtful Accounts
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2024Q2 RNGE Costs Incurred On Contracts In Progress
CostsIncurredOnContractsInProgress
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CY2024Q2 us-gaap Line Of Credit
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CY2023Q4 us-gaap Line Of Credit
LineOfCredit
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us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
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CY2023Q4 RNGE Costs Incurred On Contracts In Progress
CostsIncurredOnContractsInProgress
425634 usd
CY2024Q2 RNGE Estimated Earnings
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1192317 usd
CY2023Q4 RNGE Estimated Earnings
EstimatedEarnings
340528 usd
CY2024Q2 RNGE Revenue Earned On Contracts In Progress
RevenueEarnedOnContractsInProgress
2815997 usd
CY2023Q4 RNGE Revenue Earned On Contracts In Progress
RevenueEarnedOnContractsInProgress
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CY2024Q2 RNGE Contract Billings To Date
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1441035 usd
CY2023Q4 RNGE Contract Billings To Date
ContractBillingsToDate
518852 usd
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1374962 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
247310 usd
CY2024Q2 us-gaap Other Receivables
OtherReceivables
725429 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
725429 usd
CY2024Q2 us-gaap Energy Related Inventory Coal
EnergyRelatedInventoryCoal
725429 usd
CY2024Q2 us-gaap Energy Related Inventory
EnergyRelatedInventory
725429 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2297324 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12025030 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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us-gaap Depreciation And Amortization
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CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14932545 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14705879 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14932545 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1225681 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
36762 usd
us-gaap Net Income Loss
NetIncomeLoss
-2439521 usd
us-gaap Net Income Loss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101552586 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80519745 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101288035 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79324917 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101552586 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80519745 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101288035 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79324917 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101552586 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80519745 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101288035 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
6 segment
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2349738 usd
CY2024Q2 us-gaap Gross Profit
GrossProfit
-148929 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Assets
Assets
19441520 usd
CY2024Q2 us-gaap Depreciation
Depreciation
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CY2024Q2 us-gaap Interest Expense
InterestExpense
165660 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3998267 usd
CY2023Q2 us-gaap Gross Profit
GrossProfit
845101 usd
CY2023Q2 us-gaap Assets
Assets
9715480 usd
CY2023Q2 us-gaap Depreciation
Depreciation
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CY2023Q2 us-gaap Interest Expense
InterestExpense
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CY2023Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Gross Profit
GrossProfit
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Assets
Assets
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us-gaap Depreciation
Depreciation
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us-gaap Interest Expense
InterestExpense
340918 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56600 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7013154 usd
us-gaap Gross Profit
GrossProfit
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Assets
Assets
9715480 usd
us-gaap Depreciation
Depreciation
695910 usd
us-gaap Interest Expense
InterestExpense
108634 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
784515 usd

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