2023 Q2 Form 10-K Financial Statement

#000137647423000192 Filed on April 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $9.673M $11.04M $44.11M
YoY Change -17.26% 9.86% 338.93%
Cost Of Revenue $5.401M $7.028M $30.90M
YoY Change -39.16% -8.31% 303.17%
Gross Profit $4.272M $4.013M $13.21M
YoY Change 51.88% 68.26% 453.85%
Gross Profit Margin 44.16% 36.35% 29.95%
Selling, General & Admin $4.719M $16.87M
YoY Change 53.53% 414.82%
% of Gross Profit 117.59% 127.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.83K $38.82K
YoY Change -61.38% -42.6%
% of Gross Profit 0.64% 0.29%
Operating Expenses $3.949M $4.745M $17.05M
YoY Change -8.88% 51.08% 409.95%
Operating Profit $322.3K -$731.9K -$3.843M
YoY Change -121.18% -3.14% 300.76%
Interest Expense -$9.451K -$14.45K -$43.29K
YoY Change -3.17% -33.69% 48.85%
% of Operating Profit -2.93%
Other Income/Expense, Net $64.11K $64.11K
YoY Change
Pretax Income $312.9K -$682.2K -$3.823M
YoY Change -120.43% -12.24% 286.86%
Income Tax $0.00 -$190.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $311.7K -$670.7K -$3.766M
YoY Change -120.58% -13.73% 281.16%
Net Earnings / Revenue 3.22% -6.07% -8.54%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 263.3M shares 263.3M shares
Diluted Shares Outstanding 263.3M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.678M $2.678M
YoY Change -45.58% -45.58%
Cash & Equivalents $1.332M $2.678M $2.678M
Short-Term Investments
Other Short-Term Assets $636.5K $636.5K
YoY Change 72.32% 72.32%
Inventory $71.13K $108.2K $108.2K
Prepaid Expenses $548.8K $636.5K
Receivables $1.129M $1.062M $1.062M
Other Receivables $3.078M $3.078M
Total Short-Term Assets $6.284M $7.562M $7.562M
YoY Change -33.35% -22.81% -22.81%
LONG-TERM ASSETS
Property, Plant & Equipment $65.04K $78.56K $594.1K
YoY Change -27.72% 2.02% -10.51%
Goodwill $71.66M $71.66M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $338.8K $515.6K $352.9K
YoY Change -34.89% -12.16% -32.91%
Total Long-Term Assets $73.44M $73.62M $73.62M
YoY Change -0.68% -0.62% -0.62%
TOTAL ASSETS
Total Short-Term Assets $6.284M $7.562M $7.562M
Total Long-Term Assets $73.44M $73.62M $73.62M
Total Assets $79.72M $81.18M $81.18M
YoY Change -4.38% -3.21% -3.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.152M $6.805M $6.805M
YoY Change -32.61% 9.76% 9.76%
Accrued Expenses $2.201M $2.783M $3.131M
YoY Change -23.36% -2.78% -4.04%
Deferred Revenue
YoY Change
Short-Term Debt $600.0K $600.0K
YoY Change
Long-Term Debt Due $292.7K $292.7K
YoY Change -48.29% -48.29%
Total Short-Term Liabilities $11.08M $13.37M $13.37M
YoY Change -22.07% 6.07% 6.07%
LONG-TERM LIABILITIES
Long-Term Debt $716.7K $716.7K
YoY Change 48.89% 48.89%
Other Long-Term Liabilities $167.9K $167.9K
YoY Change -10.17% -10.17%
Total Long-Term Liabilities $710.2K $884.6K $884.6K
YoY Change -31.16% 32.38% 32.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.08M $13.37M $13.37M
Total Long-Term Liabilities $710.2K $884.6K $884.6K
Total Liabilities $11.80M $14.25M $14.09M
YoY Change -22.69% 7.4% 7.03%
SHAREHOLDERS EQUITY
Retained Earnings -$13.07M -$14.03M
YoY Change 2.13% 36.68%
Common Stock $2.633M $2.633M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $68.08M $67.09M $67.09M
YoY Change
Total Liabilities & Shareholders Equity $79.72M $81.18M $81.18M
YoY Change -4.38% -3.21% -3.21%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $311.7K -$670.7K -$3.766M
YoY Change -120.58% -13.73% 281.16%
Depreciation, Depletion And Amortization $25.83K $38.82K
YoY Change -61.38% -42.6%
Cash From Operating Activities -$493.9K -$3.394M
YoY Change -93.77% -41.7%
INVESTING ACTIVITIES
Capital Expenditures -$53.78K $51.52K
YoY Change 139.55% -329.47%
Acquisitions
YoY Change
Other Investing Activities -$26.69K -$501.7K
YoY Change -96.24% -29.39%
Cash From Investing Activities $27.10K $303.2K
YoY Change -103.7% -141.37%
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 -390.9K $24.17K
YoY Change -104.55% -99.79%
NET CHANGE
Cash From Operating Activities -493.9K -$3.394M
Cash From Investing Activities 27.10K $303.2K
Cash From Financing Activities -390.9K $24.17K
Net Change In Cash -857.7K -$2.843M
YoY Change 1377.33% -155.75%
FREE CASH FLOW
Cash From Operating Activities -$493.9K -$3.394M
Capital Expenditures -$53.78K $51.52K
Free Cash Flow -$440.2K -$3.445M
YoY Change -94.43% -40.58%

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CY2022 us-gaap Concentration Risk Credit Risk
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2021 us-gaap Depreciation
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CY2022Q4 fil Lease Liability Macao And Zhuhai
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CY2022 us-gaap Operating Lease Expense
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CY2022Q4 us-gaap Common Stock Shares Authorized
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CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2022Q4 us-gaap Preferred Stock Shares Authorized
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CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2022Q4 us-gaap Common Stock Shares Outstanding
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Expense Benefit
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CY2022Q4 fil Joint Venture Property Plant And Equipment Net
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CY2022Q4 fil Joint Venture Other Receivables And Prepaid
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CY2021Q4 fil Joint Venture Inventory
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CY2022Q4 fil Joint Venture Cash And Cash Equivalents
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CY2022Q4 fil Joint Venture Total Assets
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CY2022Q4 fil Joint Venture Other Payable
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CY2022Q4 fil Joint Venture Customer Deposit
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