$RTSL
Rapid Therapeutic Science Laboratories, Inc.

2022 Q4 Form 10-Q Financial Statement

#000139390522000447 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $50.00
YoY Change -100.0% -100.0% -96.93%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $0.00 $50.00
YoY Change -100.0% -100.0% -101.58%
Gross Profit Margin 100.0%
Selling, General & Admin $30.44K $345.7K $490.7K
YoY Change -94.88% -29.55% -17.28%
% of Gross Profit 981320.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.990K $5.993K $5.530K
YoY Change 8.51% 8.37% -79.83%
% of Gross Profit 11060.0%
Operating Expenses -$27.34K $372.9K $496.2K
YoY Change -104.4% -24.84% -20.05%
Operating Profit $27.34K -$372.9K -$496.1K
YoY Change -104.4% -24.84% -20.46%
Interest Expense -$70.58K $346.2K -$658.0K
YoY Change -89.21% -152.61% 3819.12%
% of Operating Profit -258.16%
Other Income/Expense, Net $92.17K $145.8K $570.7K
YoY Change 50.73% -74.45%
Pretax Income $48.94K -$227.1K -$583.4K
YoY Change -104.03% -61.08% -8.91%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $48.94K -$227.1K -$583.4K
YoY Change -104.03% -61.08% -8.91%
Net Earnings / Revenue -1166880.0%
Basic Earnings Per Share -$0.03 -$0.08
Diluted Earnings Per Share $0.01 -$30.00K -$75.36K
COMMON SHARES
Basic Shares Outstanding 7.747M shares 7.747M shares 7.743M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $919.7K
YoY Change -100.0% -100.0% 245.68%
Cash & Equivalents $0.00 $0.00 $919.7K
Short-Term Investments
Other Short-Term Assets $58.15K $62.52K $51.63K
YoY Change 12.63% 21.09%
Inventory $175.0K $175.0K $187.0K
Prepaid Expenses $58.15K $62.52K
Receivables
Other Receivables
Total Short-Term Assets $233.2K $237.6K $1.158M
YoY Change -44.37% -79.49% 152.47%
LONG-TERM ASSETS
Property, Plant & Equipment $1.511M $1.517M $700.1K
YoY Change 27.46% 116.71% 673.06%
Goodwill
YoY Change
Intangibles $170.1K $170.1K
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.021M $2.049M $870.2K
YoY Change 13.51% 135.44% 153.64%
TOTAL ASSETS
Total Short-Term Assets $233.2K $237.6K $1.158M
Total Long-Term Assets $2.021M $2.049M $870.2K
Total Assets $2.255M $2.286M $2.029M
YoY Change 2.48% 12.7% 152.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $891.4K $858.2K $118.5K
YoY Change 91.62% 624.04% 71.43%
Accrued Expenses $223.3K $182.2K $41.96K
YoY Change 87.62% 334.22% -87.59%
Deferred Revenue
YoY Change
Short-Term Debt $2.481M $2.492M $454.8K
YoY Change 125.63% 447.89% 23.92%
Long-Term Debt Due $820.6K $744.8K $283.7K
YoY Change 189.25% 162.53% 1114.99%
Total Short-Term Liabilities $4.966M $4.905M $2.045M
YoY Change 62.65% 139.81% 108.5%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $150.0K $150.0K
YoY Change 0.0% 0.0% -52.42%
Other Long-Term Liabilities $280.2K $318.1K
YoY Change -26.01%
Total Long-Term Liabilities $430.2K $468.1K $150.0K
YoY Change -18.63% 212.04% -52.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.966M $4.905M $2.045M
Total Long-Term Liabilities $430.2K $468.1K $150.0K
Total Liabilities $5.396M $5.373M $2.195M
YoY Change 50.66% 144.74% 69.36%
SHAREHOLDERS EQUITY
Retained Earnings -$10.32M -$10.37M
YoY Change 21.06%
Common Stock $7.763K $7.747K
YoY Change 0.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $337.3K $337.3K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity -$3.141M -$3.087M -$167.0K
YoY Change
Total Liabilities & Shareholders Equity $2.255M $2.286M $2.029M
YoY Change 2.48% 12.7% 152.97%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $48.94K -$227.1K -$583.4K
YoY Change -104.03% -61.08% -8.91%
Depreciation, Depletion And Amortization $5.990K $5.993K $5.530K
YoY Change 8.51% 8.37% -79.83%
Cash From Operating Activities -$352.1K -$165.4K -$710.8K
YoY Change -36.21% -76.73% -7.58%
INVESTING ACTIVITIES
Capital Expenditures -$315.6K $0.00 -$77.39K
YoY Change 80.0% -100.0% -16.77%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $315.6K $0.00 -$77.39K
YoY Change -280.0% -100.0% -16.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 36.40K 53.25K 1.660M
YoY Change -96.79% 81.42%
NET CHANGE
Cash From Operating Activities -352.1K -165.4K -710.8K
Cash From Investing Activities 315.6K 0.000 -77.39K
Cash From Financing Activities 36.40K 53.25K 1.660M
Net Change In Cash -10.00 -112.2K 871.8K
YoY Change -100.0% -112.87% 1547.06%
FREE CASH FLOW
Cash From Operating Activities -$352.1K -$165.4K -$710.8K
Capital Expenditures -$315.6K $0.00 -$77.39K
Free Cash Flow -$36.41K -$165.4K -$633.4K
YoY Change -90.33% -73.89% -6.31%

Facts In Submission

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dei Document Period End Date
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Rapid Therapeutic Science Laboratories, Inc.
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dei Entity Tax Identification Number
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IncreaseDecreaseInOtherCurrentLiabilities
0 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
0 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-354801 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-117172 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
585000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1650000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
461100 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
260000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
599377 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
98500 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
300000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
961977 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2195000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-192484 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
420561 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192484 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
499146 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
919707 usd
us-gaap Interest Paid
InterestPaid
52967 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
0 usd
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
892323 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
5215 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 usd
CY2017Q2 us-gaap Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
1 pure
CY2022Q1 fil Common Stock Authorized Increase
CommonStockAuthorizedIncrease
800000000 shares
us-gaap Use Of Estimates
UseOfEstimates
<p style="font:10pt Times New Roman;margin:0;text-indent:36pt;text-align:justify"><i>Use of Estimates</i> - The preparation of consolidated 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period.</p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;text-align:justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.</p>
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10365088 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1564503 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1214917 usd
CY2022Q3 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
47334 usd
CY2021Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
29355 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1517169 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1185562 usd
CY2022Q3 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
3386376 usd
CY2021Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
1533434 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
23557 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
98509 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
102792 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
107075 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
111358 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
79350 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
318060 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
361395 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
397410 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
318060 usd
CY2022Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.05 pure
CY2020Q1 fil Common Stock Authorized Increase
CommonStockAuthorizedIncrease
750000000 shares
CY2022Q1 fil Common Stock Authorized Increase
CommonStockAuthorizedIncrease
800000000 shares
CY2022Q1 fil Preferred Stock Share Increase
PreferredStockShareIncrease
100000000 shares

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