2024 Q2 Form 10-Q Financial Statement

#000147793224005981 Filed on September 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4
Revenue $5.448M
YoY Change -33.15%
Cost Of Revenue $4.052M
YoY Change -25.64%
Gross Profit $1.396M
YoY Change -48.3%
Gross Profit Margin 25.63%
Selling, General & Admin $5.986M
YoY Change 85.52%
% of Gross Profit 428.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $5.986M
YoY Change 85.52%
Operating Profit -$4.590M
YoY Change 772.54%
Interest Expense $156.7K
YoY Change -54.7%
% of Operating Profit
Other Income/Expense, Net -$5.293M
YoY Change 546.33%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$9.883M
YoY Change 634.84%
Net Earnings / Revenue -181.41%
Basic Earnings Per Share -$45.97
Diluted Earnings Per Share $45.97
COMMON SHARES
Basic Shares Outstanding 215.0K shares 8.009M shares
Diluted Shares Outstanding 215.0K shares

Balance Sheet

Concept 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $253.8K $497.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $747.3K $3.225M
Prepaid Expenses $766.3K $234.7K
Receivables $1.526M $1.996M
Other Receivables
Total Short-Term Assets $3.704M $6.583M
YoY Change -51.89% -5.51%
LONG-TERM ASSETS
Property, Plant & Equipment $230.3K $197.1K
YoY Change -0.61% -15.37%
Goodwill $7.200M $7.200M
YoY Change 0.0% 0.0%
Intangibles $2.685M $3.190M
YoY Change -13.09% -3.07%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.44M $11.95M
YoY Change -4.33% -1.64%
TOTAL ASSETS
Total Short-Term Assets $3.704M $6.583M
Total Long-Term Assets $11.44M $11.95M
Total Assets $15.14M $18.54M
YoY Change -22.96% -3.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.668M $3.820M
YoY Change 11.94% -20.38%
Accrued Expenses $3.670M $2.298M
YoY Change 16.81% 55.34%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.40M $23.20M
YoY Change -31.43% 7.56%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.237M $1.392M
YoY Change -44.92% -42.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.40M $23.20M
Total Long-Term Liabilities $1.237M $1.392M
Total Liabilities $18.63M $25.30M
YoY Change -32.53% 5.42%
SHAREHOLDERS EQUITY
Retained Earnings -$115.3M -$97.49M
YoY Change 16.58% 2.37%
Common Stock $30.00 $13.21K
YoY Change -99.98% 15.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.222M -$6.740M
YoY Change
Total Liabilities & Shareholders Equity $15.14M $18.54M
YoY Change -22.96% -3.05%

Cashflow Statement

Concept 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$9.883M
YoY Change 634.84%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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566123 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-2857905 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
630977 usd
CY2024Q2 sing Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
526882 usd
CY2024Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1457800 usd
CY2024Q2 sing Exercise Of Pre Funded Warrants Amount
ExerciseOfPreFundedWarrantsAmount
0 usd
CY2024Q2 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
2974381 usd
CY2024Q2 sing Settlement Of Derivative Liabilities
SettlementOfDerivativeLiabilities
804025 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-9882556 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-3488491 usd
us-gaap Profit Loss
ProfitLoss
-12740461 usd
us-gaap Profit Loss
ProfitLoss
-10252846 usd
us-gaap Depreciation
Depreciation
238991 usd
us-gaap Depreciation
Depreciation
162296 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
202224 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
202224 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1909509 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
305192 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
0 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
23826 usd
sing Financing Costs
FinancingCosts
-2730416 usd
sing Financing Costs
FinancingCosts
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
887991 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
sing Settlement Of Derivative Liability
SettlementOfDerivativeLiability
1485637 usd
sing Settlement Of Derivative Liability
SettlementOfDerivativeLiability
352576 usd
sing Preferred Stock Issued For Services
PreferredStockIssuedForServices
0 usd
sing Preferred Stock Issued For Services
PreferredStockIssuedForServices
-6487326 usd
sing Common Stock Issued For Services
CommonStockIssuedForServices
-2037676 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
-328863 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
449555 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-481929 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-656568 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-39323 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1087773 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
685071 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
109970 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
649505 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
451434 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-611110 usd
sing Increase Decrease In Accured Expenses Including Accured Officer Salaries
IncreaseDecreaseInAccuredExpensesIncludingAccuredOfficerSalaries
1686960 usd
sing Increase Decrease In Accured Expenses Including Accured Officer Salaries
IncreaseDecreaseInAccuredExpensesIncludingAccuredOfficerSalaries
1662058 usd
sing Increase Decrease In Unearned Revenue
IncreaseDecreaseInUnearnedRevenue
-931265 usd
sing Increase Decrease In Unearned Revenue
IncreaseDecreaseInUnearnedRevenue
1889146 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2303191 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-556518 usd
us-gaap Payments To Acquire Leases Held For Investment
PaymentsToAcquireLeasesHeldForInvestment
10000 usd
us-gaap Payments To Acquire Leases Held For Investment
PaymentsToAcquireLeasesHeldForInvestment
56500 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13139 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51836 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23139 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-108336 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
482940 usd
sing Proceeds From Sale Of Preferred Stock A
ProceedsFromSaleOfPreferredStockA
850919 usd
sing Proceeds From Sale Of Preferred Stock A
ProceedsFromSaleOfPreferredStockA
123787 usd
sing Proceeds From Advances From Related Party
ProceedsFromAdvancesFromRelatedParty
33114 usd
sing Proceeds From Advances From Related Party
ProceedsFromAdvancesFromRelatedParty
105250 usd
sing Proceeds From Advance
ProceedsFromAdvance
250000 usd
sing Proceeds From Advance
ProceedsFromAdvance
0 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1400000 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
350000 usd
sing Payments On Advances From Related Party
PaymentsOnAdvancesFromRelatedParty
52696 usd
sing Payments On Advances From Related Party
PaymentsOnAdvancesFromRelatedParty
101229 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
406766 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
113904 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
52888 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
152707 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
200159 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
142619 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1821524 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
551518 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-504806 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-113336 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
758622 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
564242 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
253816 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
450906 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
60728 usd
us-gaap Interest Paid Net
InterestPaidNet
3417 usd
sing Settlement Of Notes Payable Through Issuance Of Convertible Notes Payable
SettlementOfNotesPayableThroughIssuanceOfConvertibleNotesPayable
357428 usd
sing Settlement Of Notes Payable Through Issuance Of Convertible Notes Payable
SettlementOfNotesPayableThroughIssuanceOfConvertibleNotesPayable
0 usd
sing Recognition Of Debt Discount From Derivative Liability
RecognitionOfDebtDiscountFromDerivativeLiability
2811504 usd
sing Recognition Of Debt Discount From Derivative Liability
RecognitionOfDebtDiscountFromDerivativeLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1370148 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
sing Exercise Of Pre Funded Warrants Into Common Stock
ExerciseOfPreFundedWarrantsIntoCommonStock
2 usd
sing Exercise Of Pre Funded Warrants Into Common Stock
ExerciseOfPreFundedWarrantsIntoCommonStock
0 usd
sing Common Stock Issued For Conversion Of Debt And Accrued Interest
CommonStockIssuedForConversionOfDebtAndAccruedInterest
4063048 usd
sing Common Stock Issued For Conversion Of Debt And Accrued Interest
CommonStockIssuedForConversionOfDebtAndAccruedInterest
176402 usd
sing Issuance Of Convertible Debt For Remaining Interests In Subsidiary
IssuanceOfConvertibleDebtForRemainingInterestsInSubsidiary
1749964 usd
sing Issuance Of Convertible Debt For Remaining Interests In Subsidiary
IssuanceOfConvertibleDebtForRemainingInterestsInSubsidiary
0 usd
sing Settlement Of Notes Payable And Interest Through Issuance Of Convertible Note Payable
SettlementOfNotesPayableAndInterestThroughIssuanceOfConvertibleNotePayable
817000 usd
sing Settlement Of Notes Payable And Interest Through Issuance Of Convertible Note Payable
SettlementOfNotesPayableAndInterestThroughIssuanceOfConvertibleNotePayable
0 usd
sing Settlement Of Advances Payable Through Issuance Of Convertible Note Payable
SettlementOfAdvancesPayableThroughIssuanceOfConvertibleNotePayable
250000 usd
sing Settlement Of Advances Payable Through Issuance Of Convertible Note Payable
SettlementOfAdvancesPayableThroughIssuanceOfConvertibleNotePayable
0 usd
sing Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
0 usd
sing Recognition Of Right Of Use Assets And Lease Liabilities
RecognitionOfRightOfUseAssetsAndLeaseLiabilities
0 usd
sing Recognition Of Right Of Use Assets And Lease Liabilities
RecognitionOfRightOfUseAssetsAndLeaseLiabilities
132639 usd
sing Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
308020 shares
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
253816 usd
us-gaap Profit Loss
ProfitLoss
-12740461 usd
CY2024Q2 sing Net Loss Available To Common Stockholders Basic
NetLossAvailableToCommonStockholdersBasic
-9883004 usd
CY2023Q2 sing Net Loss Available To Common Stockholders Basic
NetLossAvailableToCommonStockholdersBasic
9228829 usd
sing Net Loss Available To Common Stockholders Basic
NetLossAvailableToCommonStockholdersBasic
-12740188 usd
sing Net Loss Available To Common Stockholders Basic
NetLossAvailableToCommonStockholdersBasic
554811 usd
CY2024Q2 sing Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
214995 shares
CY2023Q2 sing Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
1393 shares
sing Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
145534 shares
sing Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
757 shares
CY2024Q2 sing Weighted Average Number Of Common Shares Outstanding Diluted
WeightedAverageNumberOfCommonSharesOutstandingDiluted
214995 shares
CY2023Q2 sing Weighted Average Number Of Common Shares Outstanding Diluted
WeightedAverageNumberOfCommonSharesOutstandingDiluted
1690 shares
sing Weighted Average Number Of Common Shares Outstanding Diluted
WeightedAverageNumberOfCommonSharesOutstandingDiluted
145534 shares
sing Weighted Average Number Of Common Shares Outstanding Diluted
WeightedAverageNumberOfCommonSharesOutstandingDiluted
1054 shares
CY2024Q2 sing Net Income Loss Per Share Basic
NetIncomeLossPerShareBasic
-45.97
CY2023Q2 sing Net Income Loss Per Share Basic
NetIncomeLossPerShareBasic
6625.15
sing Net Income Loss Per Share Basic
NetIncomeLossPerShareBasic
-87.54
sing Net Income Loss Per Share Basic
NetIncomeLossPerShareBasic
732.91
CY2024Q2 sing Net Income Loss Per Share Diluted
NetIncomeLossPerShareDiluted
-45.97
CY2023Q2 sing Net Income Loss Per Share Diluted
NetIncomeLossPerShareDiluted
5460.85
sing Net Income Loss Per Share Diluted
NetIncomeLossPerShareDiluted
-87.54
sing Net Income Loss Per Share Diluted
NetIncomeLossPerShareDiluted
526.39

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