2023 Q4 Form 10-Q Financial Statement

#000147793223003555 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2023 Q1
Revenue $8.149M $5.719M
YoY Change 79.71% 268.62%
Cost Of Revenue $5.449M $4.066M
YoY Change 70.03% 196.91%
Gross Profit $2.700M $1.653M
YoY Change 103.06% 808.15%
Gross Profit Margin 33.14% 28.9%
Selling, General & Admin $3.226M $3.480M
YoY Change -28.66% 114.87%
% of Gross Profit 119.48% 210.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $181.5K $81.90K
YoY Change 21.2% 439.01%
% of Gross Profit 6.72% 4.95%
Operating Expenses $3.226M $3.480M
YoY Change -28.66% 114.87%
Operating Profit -$526.0K -$1.827M
YoY Change -83.52% 27.08%
Interest Expense $345.9K $452.8K
YoY Change 433.85% 735.8%
% of Operating Profit
Other Income/Expense, Net -$818.9K -$593.9K
YoY Change 214.92% 884.3%
Pretax Income -$1.345M -$2.421M
YoY Change -61.04% 61.61%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.345M -$2.187M
YoY Change -59.57% 46.0%
Net Earnings / Revenue -16.5% -38.23%
Basic Earnings Per Share $0.01 -$719.10
Diluted Earnings Per Share $0.01 -$0.02
COMMON SHARES
Basic Shares Outstanding 8.009M shares 1.712B shares 132.1M shares
Diluted Shares Outstanding 1.757B shares 12.06K shares

Balance Sheet

Concept 2023 Q4 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $450.9K $497.0K
YoY Change -81.14% 313.87%
Cash & Equivalents $497.0K $450.9K $497.0K
Short-Term Investments
Other Short-Term Assets $222.3K $234.7K
YoY Change -50.77% 159.52%
Inventory $3.225M $3.166M $3.225M
Prepaid Expenses $234.7K $222.3K
Receivables $1.996M $2.528M $2.354M
Other Receivables $277.0K $272.5K
Total Short-Term Assets $6.583M $7.699M $6.583M
YoY Change -5.51% 10.75% 1619.76%
LONG-TERM ASSETS
Property, Plant & Equipment $197.1K $231.8K $1.431M
YoY Change -15.37% -10.32% 3576.9%
Goodwill $7.200M $7.200M
YoY Change 0.0% -15.17%
Intangibles $3.190M $3.089M
YoY Change -3.07% -12.26%
Long-Term Investments $134.4K $134.4K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.95M $11.96M $11.95M
YoY Change -1.64% -12.34% 557.88%
TOTAL ASSETS
Total Short-Term Assets $6.583M $7.699M $6.583M
Total Long-Term Assets $11.95M $11.96M $11.95M
Total Assets $18.54M $19.66M $18.54M
YoY Change -3.05% -4.55% 742.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.820M $4.170M $3.820M
YoY Change -20.38% -4.53% 1240.82%
Accrued Expenses $2.298M $3.142M $2.864M
YoY Change 55.34% 71.66% 187.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.965M $9.642M
YoY Change 34.58% 645.82%
Total Short-Term Liabilities $23.20M $25.37M $23.20M
YoY Change 7.56% 34.55% 640.97%
LONG-TERM LIABILITIES
Long-Term Debt $935.3K $776.3K
YoY Change -48.42% 51.8%
Other Long-Term Liabilities $1.310M $1.319M
YoY Change -19.34% 138.05%
Total Long-Term Liabilities $1.392M $2.245M $2.096M
YoY Change -42.6% -34.68% 96.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.20M $25.37M $23.20M
Total Long-Term Liabilities $1.392M $2.245M $2.096M
Total Liabilities $25.30M $27.62M $25.28M
YoY Change 5.42% 23.88% 502.25%
SHAREHOLDERS EQUITY
Retained Earnings -$97.49M -$98.90M
YoY Change 2.37% 8.6%
Common Stock $13.21K $174.1K
YoY Change 15.74% 1835.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.740M -$12.24M -$6.740M
YoY Change
Total Liabilities & Shareholders Equity $18.54M $19.66M $18.54M
YoY Change -3.05% -4.55% 742.64%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$1.345M -$2.187M
YoY Change -59.57% 46.0%
Depreciation, Depletion And Amortization $181.5K $81.90K
YoY Change 21.2% 439.01%
Cash From Operating Activities -$17.52K -$539.0K
YoY Change -98.55% -15.1%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$56.34K -$52.00K
YoY Change -95.84%
Cash From Investing Activities -$56.34K -$52.00K
YoY Change -95.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.74K $523.8K
YoY Change -99.43% -7.04%
NET CHANGE
Cash From Operating Activities -17.52K -$539.0K
Cash From Investing Activities -56.34K -$52.00K
Cash From Financing Activities 27.74K $523.8K
Net Change In Cash -46.12K -$67.22K
YoY Change -102.03% -5.85%
FREE CASH FLOW
Cash From Operating Activities -$17.52K -$539.0K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023Q1 sing Common Stock Issued For Conversion Of Debt And Accrued Interest
CommonStockIssuedForConversionOfDebtAndAccruedInterest
176402 usd
CY2022Q1 sing Common Stock Issued For Conversion Of Debt And Accrued Interest
CommonStockIssuedForConversionOfDebtAndAccruedInterest
0 usd
CY2023Q1 us-gaap Convertible Preferred Stock Converted To Other Securities
ConvertiblePreferredStockConvertedToOtherSecurities
1436 usd
CY2022Q1 us-gaap Convertible Preferred Stock Converted To Other Securities
ConvertiblePreferredStockConvertedToOtherSecurities
0 usd
CY2023Q1 sing Accrual Of Preferred Stock Dividends
AccrualOfPreferredStockDividends
71240 usd
CY2022Q1 sing Accrual Of Preferred Stock Dividends
AccrualOfPreferredStockDividends
0 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
497022 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2186692 usd
CY2023Q1 sing Working Capital Deficit
WorkingCapitalDeficit
16620626 usd
CY2022Q1 sing Deferred Costs And Estimated Earnings
DeferredCostsAndEstimatedEarnings
311911 usd
CY2023Q1 sing Add Billings To Date
AddBillingsToDate
-47169 usd
CY2022Q1 sing Add Billings To Date
AddBillingsToDate
92938 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the 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. Actual results could differ from those estimates and assumptions. </p>
CY2023Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
330571 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
47779 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
51706 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
22326 usd
CY2023Q1 us-gaap Increase Decrease In Cost In Excess Of Billing On Uncompleted Contract
IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract
357680 usd
CY2022Q1 us-gaap Increase Decrease In Cost In Excess Of Billing On Uncompleted Contract
IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract
404849 usd
CY2023Q1 sing Goodwill Acquired During Period1
GoodwillAcquiredDuringPeriod1
404849 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
326167 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
326239 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
1000 usd
CY2023Q1 us-gaap Undistributed Earnings
UndistributedEarnings
0 usd
CY2022Q1 sing Goodwill Acquired During Period1
GoodwillAcquiredDuringPeriod1
311911 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2188411565 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1408450093 shares
CY2022Q1 us-gaap Undistributed Earnings
UndistributedEarnings
0 usd
CY2023Q1 sing Deferred Costs And Estimated Earnings
DeferredCostsAndEstimatedEarnings
404849 usd
CY2023Q1 sing Goodwill Beginning
GoodwillBeginning
7199567 usd
CY2023Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
CY2023Q1 sing Goodwill Impairment Losses
GoodwillImpairmentLosses
0 usd
CY2023Q1 sing Goodwill Ending
GoodwillEnding
7199567 usd
CY2023Q1 sing Intangible Assets Beginning
IntangibleAssetsBeginning
3291242 usd
CY2023Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
0 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
101112 usd
CY2023Q1 sing Intangible Asset Ending
IntangibleAssetEnding
3190130 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
303336 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
404448 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
376224 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
363384 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
363384 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1379354 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3190130 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
270685 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
332345 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
328359 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
303923 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
215819 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
0 usd
CY2023Q4 sing Long Term Debt And Capital Lease Obligations Maturities Repayments
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepayments
1451131 usd
CY2023Q4 sing Interest
Interest
-206792 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1244339 usd
CY2023Q4 sing Less Current Portion
LessCurrentPortion
-269735 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
974604 usd
CY2023Q1 sing Preferred Stock Shares Undesignated And Unissued
PreferredStockSharesUndesignatedAndUnissued
19990000 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
95870 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
38880 usd
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5000000 shares
CY2023Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
200000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5900000 shares
CY2023Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
236000 shares
CY2023Q1 sing Retail
Retail
248429 usd
CY2022Q1 sing Retail
Retail
1502204 usd
CY2023Q1 sing Distribution
Distribution
1845 usd
CY2022Q1 sing Distribution
Distribution
493 usd
CY2023Q1 sing Services
Services
5469096 usd
CY2022Q1 sing Services
Services
48845 usd
CY2023Q1 sing Total
Total
5719370 usd
CY2022Q1 sing Total
Total
1551542 usd
CY2023Q1 sing Singlepointparent Company
SinglepointparentCompany
4883 usd
CY2022Q1 sing Singlepointparent Company
SinglepointparentCompany
6403 usd
CY2023Q1 sing Boston Solar
BostonSolar
5437441 usd
CY2022Q1 sing Boston Solar
BostonSolar
0 usd
CY2023Q1 sing Box Pure Aire
BoxPureAire
242757 usd
CY2022Q1 sing Box Pure Aire
BoxPureAire
1493767 usd
CY2023Q1 sing Direct Solar America
DirectSolarAmerica
10800 usd
CY2022Q1 sing Direct Solar America
DirectSolarAmerica
0 usd
CY2023Q1 sing Digs
DIGS
2634 usd
CY2022Q1 sing Digs
DIGS
2527 usd
CY2023Q1 sing Energy Wyze
EnergyWyze
20855 usd
CY2022Q1 sing Energy Wyze
EnergyWyze
48845 usd
CY2023Q1 sing Totalrevenue
Totalrevenue
5719370 usd
CY2022Q1 sing Totalrevenue
Totalrevenue
1551542 usd

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