2021 Q2 Form 10-Q Financial Statement

#000144637121000037 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $726.0K
YoY Change
Cost Of Revenue $772.0K
YoY Change
Gross Profit -$46.00K
YoY Change
Gross Profit Margin -6.34%
Selling, General & Admin $401.0K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $719.0K
YoY Change
% of Gross Profit
Operating Expenses $2.119M $1.178M
YoY Change 79.88% -20.94%
Operating Profit -$1.481M -$524.0K
YoY Change 182.63% -4.9%
Interest Expense $315.0K $66.00K
YoY Change 377.27% -34.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.059M -$515.0K
YoY Change 105.63% -6.87%
Income Tax $9.000K
% Of Pretax Income
Net Earnings -$1.038M -$514.0K
YoY Change 101.95% -12.14%
Net Earnings / Revenue -142.98%
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$0.10
COMMON SHARES
Basic Shares Outstanding 10.74M shares 10.74M shares
Diluted Shares Outstanding 10.74M shares 10.74M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.967M
YoY Change
Cash & Equivalents $3.967M $4.295M
Short-Term Investments
Other Short-Term Assets $39.00K
YoY Change
Inventory
Prepaid Expenses
Receivables $616.0K
Other Receivables $0.00
Total Short-Term Assets $4.622M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $71.83M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $805.0K
YoY Change
Total Long-Term Assets $73.56M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $4.622M
Total Long-Term Assets $73.56M
Total Assets $78.18M $94.46M
YoY Change -17.23% -1.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $821.0K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $821.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $38.74M
YoY Change
Other Long-Term Liabilities $894.0K
YoY Change
Total Long-Term Liabilities $39.64M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $821.0K
Total Long-Term Liabilities $39.64M
Total Liabilities $40.46M $39.40M
YoY Change 2.69% -3.24%
SHAREHOLDERS EQUITY
Retained Earnings -$57.66M -$40.67M
YoY Change 41.79% -0.16%
Common Stock $110.0K $110.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.05M $54.04M
YoY Change
Total Liabilities & Shareholders Equity $78.18M $94.46M
YoY Change -17.23% -1.79%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$1.038M -$514.0K
YoY Change 101.95% -12.14%
Depreciation, Depletion And Amortization $719.0K
YoY Change
Cash From Operating Activities $124.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$592.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $3.759M
YoY Change
Cash From Investing Activities $3.167M
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 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 124.0K
Cash From Investing Activities 3.167M
Cash From Financing Activities 0.000
Net Change In Cash 3.291M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $124.0K
Capital Expenditures -$592.0K
Free Cash Flow $716.0K
YoY Change

Facts In Submission

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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2622000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7241000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4772000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5091000 USD
srtr Changeinaccruedliabilitiescapitalizedtoinvestmentindevelopment
Changeinaccruedliabilitiescapitalizedtoinvestmentindevelopment
4000 USD
srtr Changeinaccruedliabilitiescapitalizedtoinvestmentindevelopment
Changeinaccruedliabilitiescapitalizedtoinvestmentindevelopment
-501000 USD
srtr Changein Accrued Mortgage Note Payable Interest Capitalizedto Investmentin Development
ChangeinAccruedMortgageNotePayableInterestCapitalizedtoInvestmentinDevelopment
0 USD
srtr Changein Accrued Mortgage Note Payable Interest Capitalizedto Investmentin Development
ChangeinAccruedMortgageNotePayableInterestCapitalizedtoInvestmentinDevelopment
25000 USD
srtr Amortizationofdeferredloanfeescapitalizedtoinvestmentindevelopment
Amortizationofdeferredloanfeescapitalizedtoinvestmentindevelopment
87000 USD
srtr Amortizationofdeferredloanfeescapitalizedtoinvestmentindevelopment
Amortizationofdeferredloanfeescapitalizedtoinvestmentindevelopment
153000 USD
srtr Increase Decrease In Capital Additions Accrued But Not Yet Paid
IncreaseDecreaseInCapitalAdditionsAccruedButNotYetPaid
148000 USD
srtr Increase Decrease In Capital Additions Accrued But Not Yet Paid
IncreaseDecreaseInCapitalAdditionsAccruedButNotYetPaid
178000 USD
us-gaap Interest Paid Net
InterestPaidNet
427000 USD
us-gaap Interest Paid Net
InterestPaidNet
5000 USD
CY2021Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
6
CY2021Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
175000 USD
CY2020Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
101000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
296000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
272000 USD
CY2021Q2 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
726000 USD
CY2021Q2 us-gaap Net Rentable Area
NetRentableArea
27000 sqft
CY2021Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
1
CY2021Q2 srtr Percentof Real Estate Properties Leased
PercentofRealEstatePropertiesLeased
0.91
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4000000.0 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
800000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3967000 USD
CY2020Q2 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
654000 USD
us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
1441000 USD
us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
1461000 USD
CY2021Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
700000 USD
CY2021Q2 srtr Deferred Accounts Receivable
DeferredAccountsReceivable
12000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
862000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1816000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
805000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
806000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4772000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2622000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform with current period’s presentation. The reclassifications had no effect on the Company’s condensed consolidated financial condition, results of operations, or cash flows.</span></div>
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
1803000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
1835000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
1785000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
1401000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
2376000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
10062000 USD
CY2021Q2 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P10Y4M24D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M6D
CY2021Q2 us-gaap Security Deposit
SecurityDeposit
100000 USD
CY2020Q4 us-gaap Security Deposit
SecurityDeposit
100000 USD
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
551000 USD
CY2020Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
553000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1145000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1189000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1904000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1892000 USD
CY2021Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
389000 USD
CY2020Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
389000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
982000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
716000 USD
CY2021Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
247000 USD
CY2020Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
142000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
922000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1176000 USD
CY2021Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
142000 USD
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
247000 USD
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
274000 USD
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
62000 USD
CY2021Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
96000 USD
CY2020Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
15000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
322000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
126000 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
105000 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
30000 USD
CY2021Q2 us-gaap Secured Debt
SecuredDebt
18000000.0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8700000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
12510000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
18000000 USD
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
39210000 USD
CY2021Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
578000 USD
CY2021Q2 us-gaap Notes Payable
NotesPayable
38632000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
300000 USD
CY2021Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
100000 USD
CY2020Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
100000 USD
CY2020Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
100000 USD
us-gaap Interest Expense
InterestExpense
600000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000 USD
CY2020Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
200000 USD
CY2021Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
200000 USD
CY2021Q2 srtr Common Stock Outstanding Percentage
CommonStockOutstandingPercentage
0.05
CY2021Q2 srtr Redemption Pricefor Shares Percentage
RedemptionPriceforSharesPercentage
1
CY2021Q2 srtr Share Redemption Amount Minimum Limit
ShareRedemptionAmountMinimumLimit
5000 USD
srtr Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-1059000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-524000 USD
us-gaap Profit Loss
ProfitLoss
-1930000 USD
us-gaap Profit Loss
ProfitLoss
-99000 USD
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-21000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-10000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-38000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-1038000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-514000 USD
us-gaap Net Income Loss
NetIncomeLoss
-1892000 USD
us-gaap Net Income Loss
NetIncomeLoss
-97000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10739729 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10739729 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10739729 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10749464 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10739729 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10739729 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10739729 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10749464 shares
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
217475 shares
CY2021Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
2500000 USD
CY2021Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.070

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