2023 Q2 Form 10-Q Financial Statement

#000168316823003121 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $5.561M $4.894M $122.7K
YoY Change 3599.67% 3890.26% 206.17%
Cost Of Revenue $3.608M $3.066M $59.85K
YoY Change 4731.24% 5022.69% 223.16%
Gross Profit $1.953M $1.828M $62.80K
YoY Change 2482.18% 2811.02% 191.55%
Gross Profit Margin 35.12% 37.35% 51.2%
Selling, General & Admin $3.076M $3.785M $921.4K
YoY Change 325.28% 310.79% -18.26%
% of Gross Profit 157.5% 207.04% 1467.2%
Research & Development $368.6K $432.9K $361.7K
YoY Change 702.22% 19.71% 116.83%
% of Gross Profit 18.87% 23.68% 575.88%
Depreciation & Amortization $34.88K $34.71K $3.110K
YoY Change 1425.01% 1016.08% -2.2%
% of Gross Profit 1.79% 1.9% 4.95%
Operating Expenses $3.444M $4.218M $1.286M
YoY Change 7396.49% 227.95% -0.85%
Operating Profit -$989.6K -$1.829M -$1.223M
YoY Change 42.23% 49.5% -4.1%
Interest Expense $27.60K $41.08K -$12.87K
YoY Change -419.15% -74.12%
% of Operating Profit
Other Income/Expense, Net $175.2K $172.8K -$12.87K
YoY Change 11.64% -1442.82%
Pretax Income -$814.4K -$1.656M -$1.236M
YoY Change 51.14% 33.97% -80.01%
Income Tax $87.68K $46.27K $0.00
% Of Pretax Income
Net Earnings -$902.1K -$1.702M -$1.236M
YoY Change 67.41% 37.71% -80.01%
Net Earnings / Revenue -16.22% -34.79% -1007.93%
Basic Earnings Per Share -$0.02 -$7.73
Diluted Earnings Per Share -$0.04 -$0.08 -$234.5K
COMMON SHARES
Basic Shares Outstanding 22.14M shares 22.59M shares
Diluted Shares Outstanding 25.35M shares 22.04M shares 5.273M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.73M $19.29M $13.18M
YoY Change -52.72% 46.42% 633.48%
Cash & Equivalents $19.73M $19.29M $13.18M
Short-Term Investments
Other Short-Term Assets $107.0K $152.3K $46.22K
YoY Change 90.6% 229.42% 148.76%
Inventory $4.251M $3.710M $181.5K
Prepaid Expenses $107.0K $152.3K
Receivables $2.011M $1.790M $20.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $26.10M $24.95M $13.41M
YoY Change -37.84% 86.1% 627.82%
LONG-TERM ASSETS
Property, Plant & Equipment $366.7K $368.0K $3.980K
YoY Change 22231.55% 9147.04% -76.07%
Goodwill
YoY Change
Intangibles $1.234M $948.2K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.311M $2.044M $3.970K
YoY Change 140662.06% 51396.25% -76.13%
TOTAL ASSETS
Total Short-Term Assets $26.10M $24.95M $13.41M
Total Long-Term Assets $2.311M $2.044M $3.970K
Total Assets $28.41M $26.99M $13.41M
YoY Change -32.34% 101.29% 621.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.760M $2.736M $95.23K
YoY Change 1581.05% 2773.21% -35.9%
Accrued Expenses $122.2K $121.3K $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.660M $6.906M $95.23K
YoY Change 4351.82% 7151.6% -88.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $596.9K $613.1K
YoY Change
Total Long-Term Liabilities $639.9K $656.2K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.660M $6.906M $95.23K
Total Long-Term Liabilities $639.9K $656.2K $0.00
Total Liabilities $5.300M $7.562M $95.23K
YoY Change 4963.07% 7840.64% -96.76%
SHAREHOLDERS EQUITY
Retained Earnings -$62.00M -$61.10M
YoY Change 80.09%
Common Stock $25.75K $22.14K
YoY Change 36.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.11M $19.43M $13.31M
YoY Change
Total Liabilities & Shareholders Equity $28.41M $26.99M $13.41M
YoY Change -32.34% 101.29% 621.53%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$902.1K -$1.702M -$1.236M
YoY Change 67.41% 37.71% -80.01%
Depreciation, Depletion And Amortization $34.88K $34.71K $3.110K
YoY Change 1425.01% 1016.08% -2.2%
Cash From Operating Activities -$3.778M -$1.850M -$1.304M
YoY Change 558.42% 41.86% 338.6%
INVESTING ACTIVITIES
Capital Expenditures $294.2K $178.4K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $34.76K $32.09K
YoY Change
Cash From Investing Activities -$259.5K -$146.3K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.058M -$538.3K 12.44M
YoY Change -86.07% -104.33% 1028.65%
NET CHANGE
Cash From Operating Activities -3.778M -$1.850M -1.304M
Cash From Investing Activities -259.5K -$146.3K $0.00
Cash From Financing Activities 4.058M -$538.3K 12.44M
Net Change In Cash 20.45K -$2.535M 11.13M
YoY Change -99.93% -122.77% 1283.66%
FREE CASH FLOW
Cash From Operating Activities -$3.778M -$1.850M -$1.304M
Capital Expenditures $294.2K $178.4K
Free Cash Flow -$4.072M -$2.029M
YoY Change

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2534708 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
11133465 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2489 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1007 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19294218 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13177625 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
15271 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
211662 usd
CY2022Q1 SBFM Common Stock And Prefunded Warrants Issued In Public Offerings
CommonStockAndPrefundedWarrantsIssuedInPublicOfferings
13614270 usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
822403 usd
CY2022Q1 SBFM Preferred Stock Purchased From Related Party Value
PreferredStockPurchasedFromRelatedPartyValue
99000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1235227 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
14549335 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
21627570 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
506822 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1691270 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
19429478 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2021 SBFM Stock Issued During Period Shares
StockIssuedDuringPeriodShares
859114 shares
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2000000 usd
CY2023Q1 us-gaap Dividends
Dividends
0 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
728129 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
121303 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
613136 usd
CY2023Q1 SBFM Lessee Operating Lease Remaining Lease Term1
LesseeOperatingLeaseRemainingLeaseTerm1
6 years 9 months
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06 pure
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
91654 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
115978 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
116166 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
110028 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
103636 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
196976 usd
CY2023Q1 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
820000 usd
CY2022Q1 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
270000 usd
CY2023Q1 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
100000 usd
CY2022Q1 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
50000 usd

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