2021 Q1 Form 10-Q Financial Statement

#000114036121019768 Filed on June 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00
YoY Change
Cost Of Revenue $1.590M
YoY Change
Gross Profit $3.620M
YoY Change
Gross Profit Margin
Selling, General & Admin $3.180M
YoY Change
% of Gross Profit 87.85%
Research & Development $1.550M
YoY Change
% of Gross Profit 42.82%
Depreciation & Amortization $10.00K
YoY Change
% of Gross Profit 0.28%
Operating Expenses $95.58K $5.025K
YoY Change 1802.05%
Operating Profit -$95.58K -$5.025K
YoY Change 1802.05%
Interest Expense $5.790K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.968M $0.00
YoY Change
Pretax Income -$2.063M
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.063M $0.00
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$41.82K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $814.0K
YoY Change
Cash & Equivalents $814.0K $0.00
Short-Term Investments
Other Short-Term Assets $495.4K
YoY Change
Inventory
Prepaid Expenses $495.4K
Receivables
Other Receivables
Total Short-Term Assets $1.309M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $200.0M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.309M
Total Long-Term Assets $200.0M
Total Assets $201.3M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.96K
YoY Change
Accrued Expenses $108.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $152.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $28.12M
YoY Change
Total Long-Term Liabilities $28.12M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $152.0K
Total Long-Term Liabilities $28.12M
Total Liabilities $28.27M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$28.15M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$26.96M $0.00
YoY Change
Total Liabilities & Shareholders Equity $201.3M
YoY Change

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$2.063M $0.00
YoY Change
Depreciation, Depletion And Amortization $10.00K
YoY Change
Cash From Operating Activities -$547.0K -$25.00
YoY Change 2188048.0%
INVESTING ACTIVITIES
Capital Expenditures $40.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$200.0M
YoY Change
Cash From Investing Activities -$200.0M $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $25.00K
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 201.2M 217.0K
YoY Change 92618.21%
NET CHANGE
Cash From Operating Activities -547.0K -25.00
Cash From Investing Activities -200.0M 0.000
Cash From Financing Activities 201.2M 217.0K
Net Change In Cash 628.3K 217.0K
YoY Change 189.6%
FREE CASH FLOW
Cash From Operating Activities -$547.0K -$25.00
Capital Expenditures $40.00K
Free Cash Flow -$587.0K
YoY Change

Facts In Submission

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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; font-style: italic; font-weight: bold;">Use of Estimates</div><div><br /></div><div style="text-align: justify;">The preparation of the condensed financial statements in conformity with GAAP requires the Company&#8217;s 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 financial statements and the reported amounts of revenues and expenses during the reporting period.</div><div><br /></div><div style="font-family: 'Times New Roman', Times, serif;"><font style="color: #000000;">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. </font>One of the more significant accounting estimates included in these unaudited condensed financial statements is the determination of the fair value of the warrant liability. <font style="color: #000000;">Accordingly, the actual results could differ significantly from those estimates.</font></div></div>
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Files In Submission

Name View Source Status
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0001140361-21-019768-index.html Edgar Link pending
0001140361-21-019768.txt Edgar Link pending
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