$RTSL
Rapid Therapeutic Science Laboratories, Inc.

2023 Q1 Form 10-K Financial Statement

#000139390523000156 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit Margin
Selling, General & Admin $92.30K $30.44K $1.239M
YoY Change -87.89% -94.88% -41.4%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.993K $5.990K $23.97K
YoY Change 0.05% 8.51% -30.72%
% of Gross Profit
Operating Expenses $98.29K -$27.34K $1.263M
YoY Change -87.55% -104.4% -41.8%
Operating Profit -$98.29K $27.34K -$1.263M
YoY Change -87.55% -104.4% -41.79%
Interest Expense $111.0K -$70.58K $1.896M
YoY Change -115.56% -89.21% -242.59%
% of Operating Profit -258.16%
Other Income/Expense, Net $289.6K $92.17K -$531.4K
YoY Change -475.81% 50.73% -184.1%
Pretax Income $191.3K $48.94K -$1.795M
YoY Change -112.11% -104.03% -37.42%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $191.3K $48.94K -$1.795M
YoY Change -112.11% -104.03% -37.42%
Net Earnings / Revenue
Basic Earnings Per Share $0.02 -$0.23
Diluted Earnings Per Share $0.02 $0.01 -$0.23
COMMON SHARES
Basic Shares Outstanding 7.882M shares 7.747M shares 7.747M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.57K $0.00 $0.00
YoY Change -46.74% -100.0% -100.0%
Cash & Equivalents $17.57K $0.00
Short-Term Investments
Other Short-Term Assets $58.15K $58.15K $58.15K
YoY Change -18.41% 12.63% 12.63%
Inventory $175.0K $175.0K $175.1K
Prepaid Expenses $58.15K $58.15K
Receivables
Other Receivables
Total Short-Term Assets $250.8K $233.2K $233.2K
YoY Change -10.22% -44.37% -44.37%
LONG-TERM ASSETS
Property, Plant & Equipment $1.295M $1.511M $1.851M
YoY Change -42.26% 27.46% 14.94%
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 $1.784M $2.021M $2.021M
YoY Change -26.06% 13.51% 13.51%
TOTAL ASSETS
Total Short-Term Assets $250.8K $233.2K $233.2K
Total Long-Term Assets $1.784M $2.021M $2.021M
Total Assets $2.034M $2.255M $2.255M
YoY Change -24.41% 2.48% 2.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $734.8K $891.4K $891.4K
YoY Change -38.74% 91.62% 91.62%
Accrued Expenses $248.5K $223.3K $223.3K
YoY Change 81.55% 87.62% 87.62%
Deferred Revenue
YoY Change
Short-Term Debt $2.437M $2.481M $2.481M
YoY Change 25.52% 125.63% 125.63%
Long-Term Debt Due $830.0K $820.6K $820.6K
YoY Change 21.4% 189.25% 189.25%
Total Short-Term Liabilities $4.463M $4.966M $4.966M
YoY Change -12.91% 62.65% 62.66%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $150.0K $150.0K
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $259.2K $280.2K $280.2K
YoY Change -27.76% -26.01% -26.01%
Total Long-Term Liabilities $409.2K $430.2K $430.2K
YoY Change -19.57% -18.63% -18.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.463M $4.966M $4.966M
Total Long-Term Liabilities $409.2K $430.2K $430.2K
Total Liabilities $4.872M $5.396M $5.396M
YoY Change -13.51% 50.66% 50.66%
SHAREHOLDERS EQUITY
Retained Earnings -$10.12M -$10.32M
YoY Change 21.06%
Common Stock $8.082K $7.763K
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 -$2.838M -$3.141M -$3.141M
YoY Change
Total Liabilities & Shareholders Equity $2.034M $2.255M $2.255M
YoY Change -24.41% 2.48% 2.48%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $191.3K $48.94K -$1.795M
YoY Change -112.11% -104.03% -37.42%
Depreciation, Depletion And Amortization $5.993K $5.990K $23.97K
YoY Change 0.05% 8.51% -30.72%
Cash From Operating Activities -$41.81K -$352.1K -$1.152M
YoY Change -89.1% -36.21% -47.87%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$315.6K $39.16K
YoY Change -100.0% 80.0% -113.38%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $315.6K -$39.16K
YoY Change -100.0% -280.0% -86.62%
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 $59.39K 36.40K $998.4K
YoY Change -89.67% -54.52%
NET CHANGE
Cash From Operating Activities -$41.81K -352.1K -$1.152M
Cash From Investing Activities $0.00 315.6K -$39.16K
Cash From Financing Activities $59.39K 36.40K $998.4K
Net Change In Cash $17.57K -10.00 -$192.5K
YoY Change -111.02% -100.0% -37.23%
FREE CASH FLOW
Cash From Operating Activities -$41.81K -$352.1K -$1.152M
Capital Expenditures $0.00 -$315.6K $39.16K
Free Cash Flow -$41.81K -$36.41K -$1.191M
YoY Change 26.98% -90.33% -37.87%

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Rapid Therapeutic Science Laboratories, Inc.
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CY2022 us-gaap Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
15000 usd
CY2021 us-gaap Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
-892323 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
310431 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
315646 usd
CY2022 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 usd
CY2021 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
446429 usd
CY2022Q1 fil Common Stock Authorized Increase
CommonStockAuthorizedIncrease
800000000 shares
CY2022 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>
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10316149 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1564503 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1214917 usd
CY2022Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
53327 usd
CY2021Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
29355 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1511176 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1185562 usd
CY2022Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
3451935 usd
CY2021Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
1533434 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
98509 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
102792 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
107075 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
111358 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
98509 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
280235 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
340136 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
378744 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
280235 usd
CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.05 pure
CY2020Q1 fil Common Stock Authorized Increase
CommonStockAuthorizedIncrease
750000000 shares
CY2022Q1 fil Preferred Stock Share Increase
PreferredStockShareIncrease
100000000 shares
CY2022Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
1147000 usd
CY2021Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
1170000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1147000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1170000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1147000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1170000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7881567 shares

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