2023 Q3 Form 10-K Financial Statement

#000147793223006220 Filed on August 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q1 2023
Revenue $328.9K $326.6K $1.136M
YoY Change 36.42% 16.47% 13.92%
Cost Of Revenue $141.9K $114.1K $530.5K
YoY Change 2.21% -15.9% -4.78%
Gross Profit $187.1K $212.4K $605.5K
YoY Change 82.81% 46.85% 37.6%
Gross Profit Margin 56.87% 65.05% 53.3%
Selling, General & Admin $231.2K $209.2K $735.8K
YoY Change 27.67% 55.69% 50.13%
% of Gross Profit 123.57% 98.47% 121.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.400K $1.400K $5.600K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 0.75% 0.66% 0.92%
Operating Expenses $232.5K $210.6K $741.4K
YoY Change 27.46% 55.12% 49.56%
Operating Profit -$45.49K $1.840K -$135.9K
YoY Change -43.23% -79.33% 144.07%
Interest Expense $3.110K -$6.410K $11.75K
YoY Change -8.72% 222.11% -54.17%
% of Operating Profit -348.37%
Other Income/Expense, Net -$46.26K $144.6K
YoY Change 190.58% -28.16%
Pretax Income -$91.75K -$19.71K $8.730K
YoY Change -4.48% -385.24% -103.4%
Income Tax
% Of Pretax Income
Net Earnings -$91.75K -$19.71K $8.726K
YoY Change -4.47% -385.24% -103.4%
Net Earnings / Revenue -27.9% -6.04% 0.77%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 6.375B shares 6.223B shares 5.888B shares
Diluted Shares Outstanding 6.093B shares

Balance Sheet

Concept 2023 Q3 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.30K $33.32K $33.32K
YoY Change 64.91% 18.75% 18.75%
Cash & Equivalents $20.30K $33.32K
Short-Term Investments
Other Short-Term Assets $3.221K $3.221K $3.220K
YoY Change 0.0% 0.0% -65.08%
Inventory $136.4K $116.1K $116.1K
Prepaid Expenses $0.00
Receivables $24.43K $1.798K $1.800K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $184.4K $154.5K $154.5K
YoY Change 0.34% 1.47% 1.47%
LONG-TERM ASSETS
Property, Plant & Equipment $7.085K $9.885K $52.37K
YoY Change -44.15% -36.16% -36.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $37.76K $52.37K $52.37K
YoY Change -43.66% -36.06% -36.06%
TOTAL ASSETS
Total Short-Term Assets $184.4K $154.5K $154.5K
Total Long-Term Assets $37.76K $52.37K $52.37K
Total Assets $222.2K $206.8K $206.8K
YoY Change -11.42% -11.66% -11.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.75K $77.39K $77.39K
YoY Change 18.27% 36.43% 36.44%
Accrued Expenses $107.1K $104.1K $155.8K
YoY Change 23.13% 60.23% 3.84%
Deferred Revenue $12.50K $12.50K
YoY Change
Short-Term Debt $448.1K $439.1K $439.1K
YoY Change -6.85% 12.1% 12.1%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $855.3K $684.8K $684.8K
YoY Change 24.26% -9.61% -9.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.570K $19.10K $19.10K
YoY Change -75.32% -55.05% -55.05%
Total Long-Term Liabilities $7.570K $19.10K $19.10K
YoY Change -75.32% -55.05% -55.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $855.3K $684.8K $684.8K
Total Long-Term Liabilities $7.570K $19.10K $19.10K
Total Liabilities $862.9K $703.9K $728.3K
YoY Change 20.01% -12.02% -11.66%
SHAREHOLDERS EQUITY
Retained Earnings -$15.93M -$15.76M
YoY Change 1.66% -0.06%
Common Stock $25.50K $6.375M
YoY Change -99.56% 6.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$665.1K -$521.5K -$521.5K
YoY Change
Total Liabilities & Shareholders Equity $222.2K $206.8K $206.8K
YoY Change -11.42% -11.66% -11.66%

Cashflow Statement

Concept 2023 Q3 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$91.75K -$19.71K $8.726K
YoY Change -4.47% -385.24% -103.4%
Depreciation, Depletion And Amortization $1.400K $1.400K $5.600K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$57.70K $6.730K -$66.11K
YoY Change -33.39% -110.01% -56.13%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $45.00K
YoY Change -49.44%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.14K 11.63K $71.37K
YoY Change -59.21% -73.56% -46.33%
NET CHANGE
Cash From Operating Activities -57.70K 6.730K -$66.11K
Cash From Investing Activities 0.000 0.000 $0.00
Cash From Financing Activities 34.14K 11.63K $71.37K
Net Change In Cash -23.56K 18.36K $5.266K
YoY Change 701.36% -179.07% -129.71%
FREE CASH FLOW
Cash From Operating Activities -$57.70K $6.730K -$66.11K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023 rton Increasedecreaseinunearned Revenue
IncreasedecreaseinunearnedRevenue
12500 usd
CY2022 rton Increasedecreaseinunearned Revenue
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CY2022 us-gaap Repayments Of Notes Payable
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CY2023 us-gaap Repayments Of Convertible Debt
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0 usd
CY2022 us-gaap Repayments Of Convertible Debt
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0 usd
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45000 usd
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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5266 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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28056 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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33322 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28056 usd
CY2023 us-gaap Income Taxes Paid Net
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0 usd
CY2022 us-gaap Income Taxes Paid Net
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0 usd
CY2023 us-gaap Interest Paid Net
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0 usd
CY2022 us-gaap Interest Paid Net
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0 usd
CY2023 rton Common Stock Issued For Common Stock Payable
CommonStockIssuedForCommonStockPayable
36820 usd
CY2022 rton Common Stock Issued For Common Stock Payable
CommonStockIssuedForCommonStockPayable
0 usd
CY2023 rton Original Issuance Discount On Note Payable
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16991 usd
CY2022 rton Original Issuance Discount On Note Payable
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8450 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
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17051 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2023 rton Recission Of Shares Issued In Prior Period
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153114 usd
CY2022 rton Recission Of Shares Issued In Prior Period
RecissionOfSharesIssuedInPriorPeriod
212034 usd
CY2023 rton Common Stock Issued For Settlement Of Liabilities
CommonStockIssuedForSettlementOfLiabilities
0 usd
CY2022 rton Common Stock Issued For Settlement Of Liabilities
CommonStockIssuedForSettlementOfLiabilities
1009311 usd
CY2023Q4 us-gaap Settlement Liabilities Current
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140297 usd
CY2023Q1 us-gaap Notes Payable
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60000 usd
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6999 usd
CY2023Q1 us-gaap Inventory Finished Goods
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116115 usd
CY2022Q1 us-gaap Inventory Finished Goods
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114944 usd
CY2023 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
1761 usd
CY2022 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
661 usd
CY2023 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
182051 usd
CY2023 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
182051 usd
CY2022 rton Note Amount
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131788 usd
CY2022 rton Debt Discount
DebtDiscount
0 usd
CY2022Q1 rton Net Amounts Of Liabilities Presented
NetAmountsOfLiabilitiesPresented
131788 usd
CY2022Q1 rton Corresponding Derivative Balances
CorrespondingDerivativeBalances
159045 usd
CY2022 us-gaap Debt Conversion Converted Instrument Amount1
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165000 usd
CY2022 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 usd
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
165000 usd
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
61 usd
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
9989 usd
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
24975 usd
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
225910000 shares
CY2023 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
16509 usd
CY2022 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
966 usd
CY2023Q1 us-gaap Minority Interest
MinorityInterest
24437 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
205093333 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
364053333 shares
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
250 for 1
CY2021Q3 rton Common Stock Shares Issued Upon The Settlement
CommonStockSharesIssuedUponTheSettlement
1500000 shares
CY2022 rton Common Stock Shares Issued Upon The Settlement
CommonStockSharesIssuedUponTheSettlement
212034632 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
22750000 shares
CY2021Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
0.04
CY2022 rton Weighted Average Granted
WeightedAverageGranted
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
0
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2022 rton Share Based Compensation Arrangement By Share Based Payment Award Options Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpired
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.04
CY2022Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0
CY2021 us-gaap Impairment Of Leasehold
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91200 usd
CY2023 rton Commitment And Contigencies Description
CommitmentAndContigenciesDescription
The lease states the Company is responsible for the remaining payments through March 31, 2022, totaling approximately $87,000
CY2023 us-gaap Accretion Expense
AccretionExpense
87341 usd
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
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93000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
26658 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
25025 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
51683 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
9195 usd
CY2023Q4 rton Present Value Of Remaining Lease Payments
PresentValueOfRemainingLeasePayments
42488 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
23388 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
19100 usd
CY2023 rton Remaining Lease Term Years
RemainingLeaseTermYears
P1Y11M1D
CY2023Q4 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.0500 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2308000 usd
CY2022Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2299000 usd
CY2023Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
2308000 usd
CY2022Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
2299000 usd
CY2023Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
0 usd
CY2022Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
0 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
74000 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
427000 usd
CY2022Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
2032000 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
10993000 usd
CY2023 rton Taxable Income Limit
TaxableIncomeLimit
0.80 pure

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