2022 Q4 Form 10-Q Financial Statement

#000168316822007290 Filed on November 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $3.940M $132.8K $50.38K
YoY Change 4528.57% 163.61% 193.76%
Cost Of Revenue $2.449M $65.78K $19.51K
YoY Change 3895.3% 237.18% 207.73%
Gross Profit $1.491M $67.03K $30.87K
YoY Change 6157.32% 117.12% 185.57%
Gross Profit Margin 37.85% 50.47% 61.27%
Selling, General & Admin $6.305M $1.422M $301.5K
YoY Change 2915.46% 371.58% 304.29%
% of Gross Profit 422.82% 2121.18% 976.61%
Research & Development $41.76K $362.5K $222.5K
YoY Change -54.21% 62.94%
% of Gross Profit 2.8% 540.84% 720.67%
Depreciation & Amortization $18.97K $789.00 $3.190K
YoY Change 496.54% -75.27% -9.12%
% of Gross Profit 1.27% 1.18% 10.33%
Operating Expenses $6.528M $362.5K $527.1K
YoY Change 2051.19% -31.23% 575.03%
Operating Profit -$5.037M -$1.718M -$496.3K
YoY Change 1701.27% 246.19% 637.6%
Interest Expense $84.60K $2.00 -$46.81K
YoY Change -394.77% -100.0% 97.59%
% of Operating Profit
Other Income/Expense, Net $261.0K $0.00
YoY Change
Pretax Income -$23.28M -$1.457M -$4.039M
YoY Change -3589.48% -63.93% 478.21%
Income Tax $233.3K $0.00 $0.00
% Of Pretax Income
Net Earnings -$23.51M -$1.457M -$4.039M
YoY Change -3624.45% -63.93% 478.21%
Net Earnings / Revenue -596.78% -1097.09% -8017.82%
Basic Earnings Per Share -$0.08 -$1.59
Diluted Earnings Per Share -$1.05 -$77.15K -$1.589M
COMMON SHARES
Basic Shares Outstanding 22.59M shares 18.89M shares 2.543M shares
Diluted Shares Outstanding 18.89M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.83M $40.56M $2.387M
YoY Change 967.22% 1599.31% 388.35%
Cash & Equivalents $21.83M $40.56M $2.387M
Short-Term Investments
Other Short-Term Assets $283.8K $34.98K $32.64K
YoY Change 662.49% 7.17% 157.01%
Inventory $3.290M $269.6K $71.31K
Prepaid Expenses $283.8K $27.39K
Receivables $1.912M $22.00 $1.130K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $27.31M $40.86M $2.492M
YoY Change 1143.83% 1539.88% 372.27%
LONG-TERM ASSETS
Property, Plant & Equipment $394.2K $3.770K $10.23K
YoY Change 5483.47% -63.15% -55.37%
Goodwill $0.00
YoY Change
Intangibles $776.9K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.932M $3.770K $10.24K
YoY Change 27254.68% -63.18% -55.32%
TOTAL ASSETS
Total Short-Term Assets $27.31M $40.86M $2.492M
Total Long-Term Assets $1.932M $3.770K $10.24K
Total Assets $29.24M $40.86M $2.502M
YoY Change 1227.52% 1533.32% 354.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.803M $480.2K $56.69K
YoY Change 6426.93% 747.08% -1.73%
Accrued Expenses $123.0K $0.00 $84.95K
YoY Change 154.77% -100.0% 168.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $330.0K
YoY Change -37.76%
Total Short-Term Liabilities $6.931M $480.2K $471.6K
YoY Change 7497.38% 1.82% -36.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $3.204M
YoY Change -100.0% -100.0% 796.16%
Other Long-Term Liabilities $642.2K
YoY Change
Total Long-Term Liabilities $685.3K $0.00 $3.204M
YoY Change -63.93% -100.0% 796.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.931M $480.2K $471.6K
Total Long-Term Liabilities $685.3K $0.00 $3.204M
Total Liabilities $7.616M $480.2K $3.676M
YoY Change 282.49% -86.94% 232.54%
SHAREHOLDERS EQUITY
Retained Earnings -$59.40M -$35.89M
YoY Change 81.9%
Common Stock $22.59K $18.89K
YoY Change 771.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.63M $40.38M -$1.174M
YoY Change
Total Liabilities & Shareholders Equity $29.24M $40.86M $2.502M
YoY Change 1227.52% 1533.32% 354.46%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$23.51M -$1.457M -$4.039M
YoY Change -3624.45% -63.93% 478.21%
Depreciation, Depletion And Amortization $18.97K $789.00 $3.190K
YoY Change 496.54% -75.27% -9.12%
Cash From Operating Activities -$2.247M -$1.124M -$600.8K
YoY Change 619.81% 87.04% 398.27%
INVESTING ACTIVITIES
Capital Expenditures $305.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$14.31M
YoY Change
Cash From Investing Activities -$14.62M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.096M 0.000 1.276M
YoY Change 8759.89% -100.0% 143.16%
NET CHANGE
Cash From Operating Activities -2.247M -1.124M -600.8K
Cash From Investing Activities -14.62M 0.000
Cash From Financing Activities -2.096M 0.000 1.276M
Net Change In Cash -18.96M -1.124M 674.9K
YoY Change 5547.39% -266.51% 67.36%
FREE CASH FLOW
Cash From Operating Activities -$2.247M -$1.124M -$600.8K
Capital Expenditures $305.0K $0.00
Free Cash Flow -$2.552M -$600.8K
YoY Change 717.54% 401.59%

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us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
52716 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3001746 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1517015 usd
SBFM Proceeds Public Offering Net
ProceedsPublicOfferingNet
-43560363 usd
SBFM Proceeds Public Offering Net
ProceedsPublicOfferingNet
-3318500 usd
SBFM Redemption Or Proceeds From Preferred Shares
RedemptionOrProceedsFromPreferredShares
-99000 usd
SBFM Redemption Or Proceeds From Preferred Shares
RedemptionOrProceedsFromPreferredShares
61500 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1900000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
451661 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
41561363 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2928339 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2045167 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
989888 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
38559617 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1411324 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-105617 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
56764 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-14604 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40555931 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2386608 usd
SBFM Stock Issued For Note Conversions Including Interest
StockIssuedForNoteConversionsIncludingInterest
0 usd
SBFM Stock Issued For Note Conversions Including Interest
StockIssuedForNoteConversionsIncludingInterest
11981072 usd
us-gaap Interest Paid Net
InterestPaidNet
61151 usd
us-gaap Interest Paid Net
InterestPaidNet
155081 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
41886280 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1502145 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
40384135 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
211662 usd
SBFM Common Stock And Prefunded Warrants Issued In Underwrittenpublic And Private Offerings Net Of Issuance Costs
CommonStockAndPrefundedWarrantsIssuedInUnderwrittenpublicAndPrivateOfferingsNetOfIssuanceCosts
30367185 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
13193177 usd
SBFM Preferred Stock Purchased From Related Party Value
PreferredStockPurchasedFromRelatedPartyValue
99000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3288889 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
40384135 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-872710 usd
CY2021Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
3744000 usd
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4045222 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-1173932 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-954837 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
11981072 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
918000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13118167 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-1173932 usd
CY2022Q1 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
990000 shares
CY2022Q3 us-gaap Notes Payable
NotesPayable
0 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
1900000 usd
CY2022Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
0 usd
CY2021Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
48287 usd
CY2022Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
6833071 usd
us-gaap Dividends
Dividends
0 usd
CY2022Q3 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
595000 usd
CY2021Q3 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
105000 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1095000 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
130000 usd
CY2022Q3 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
100000 usd
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
100000 usd
CY2021Q3 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
200000 usd
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
200000 usd

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