2024 Q2 Form 10-Q Financial Statement

#000149315224018961 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $859.0K $687.0K $539.0K
YoY Change 69.09% 27.46% 317.83%
Cost Of Revenue $224.0K $223.0K $118.0K
YoY Change 115.38% 88.98% 47.5%
Gross Profit $635.0K $464.0K $421.0K
YoY Change 57.18% 10.21% 759.18%
Gross Profit Margin 73.92% 67.54% 78.11%
Selling, General & Admin $1.328M $1.369M $1.479M
YoY Change -10.03% -7.44% 18.32%
% of Gross Profit 209.13% 295.04% 351.31%
Research & Development $1.677M $2.019M $2.200M
YoY Change -21.93% -8.23% 33.09%
% of Gross Profit 264.09% 435.13% 522.57%
Depreciation & Amortization $262.0K $256.0K $154.0K
YoY Change 18.02% 66.23% 123.19%
% of Gross Profit 41.26% 55.17% 36.58%
Operating Expenses $3.345M $3.661M $3.978M
YoY Change -13.52% -7.97% 35.81%
Operating Profit -$2.710M -$3.197M -$3.557M
YoY Change -21.77% -10.12% 23.51%
Interest Expense $467.0K $2.855M $4.042M
YoY Change -53.85% -29.37% 11448.57%
% of Operating Profit
Other Income/Expense, Net $506.0K $2.311M $3.264M
YoY Change -49.85% -29.2%
Pretax Income -$2.204M -$886.0K -$293.0K
YoY Change -10.22% 202.39% -89.7%
Income Tax
% Of Pretax Income
Net Earnings -$2.204M -$886.0K -$293.0K
YoY Change -10.22% 202.39% -89.7%
Net Earnings / Revenue -256.58% -128.97% -54.36%
Basic Earnings Per Share -$3.49 -$0.05 -$0.13
Diluted Earnings Per Share -$3.61 -$0.11 -$0.13
COMMON SHARES
Basic Shares Outstanding 122.7M shares 22.68M shares 3.924M shares
Diluted Shares Outstanding 697.9K shares 34.46M shares 2.558M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.557M $5.762M $12.63M
YoY Change -51.15% -54.36% 16.23%
Cash & Equivalents $4.557M $5.762M $12.63M
Short-Term Investments
Other Short-Term Assets $41.00K $196.0K $25.00K
YoY Change 173.33% 684.0% -96.53%
Inventory $1.020M $1.176M $626.0K
Prepaid Expenses
Receivables $434.0K $483.0K $467.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.861M $7.514M $14.29M
YoY Change -47.2% -47.42% 19.2%
LONG-TERM ASSETS
Property, Plant & Equipment $4.815M $5.064M $5.772M
YoY Change -14.79% -12.27% -10.37%
Goodwill
YoY Change
Intangibles $19.00K $20.00K $25.00K
YoY Change -20.83% -20.0%
Long-Term Investments
YoY Change
Other Assets $235.0K $558.0K $84.00K
YoY Change 193.75% 564.29% -80.19%
Total Long-Term Assets $9.435M $10.05M $8.360M
YoY Change 17.97% 20.18% 21.26%
TOTAL ASSETS
Total Short-Term Assets $5.861M $7.514M $14.29M
Total Long-Term Assets $9.435M $10.05M $8.360M
Total Assets $15.30M $17.56M $22.65M
YoY Change -19.91% -22.47% 19.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $331.0K $448.0K $486.0K
YoY Change -34.06% -7.82% -0.82%
Accrued Expenses $1.558M $2.041M $1.504M
YoY Change 3.38% 35.7% 11.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $241.0K $233.0K $117.0K
YoY Change 156.38% 99.15%
Total Short-Term Liabilities $3.021M $4.088M $5.126M
YoY Change -23.05% -20.25% 92.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $33.00K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $3.429M $3.547M
YoY Change
Total Long-Term Liabilities $3.429M $3.547M $33.00K
YoY Change 26276.92% 10648.48% -98.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.021M $4.088M $5.126M
Total Long-Term Liabilities $3.429M $3.547M $33.00K
Total Liabilities $6.450M $7.635M $6.706M
YoY Change 22.02% 13.85% 51.31%
SHAREHOLDERS EQUITY
Retained Earnings -$273.8M -$271.6M -$262.7M
YoY Change 3.24% 3.39%
Common Stock $7.000K $511.0K $40.00K
YoY Change -83.33% 1177.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.846M $9.926M $15.95M
YoY Change
Total Liabilities & Shareholders Equity $15.30M $17.56M $22.65M
YoY Change -19.91% -22.47% 19.95%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$2.204M -$886.0K -$293.0K
YoY Change -10.22% 202.39% -89.7%
Depreciation, Depletion And Amortization $262.0K $256.0K $154.0K
YoY Change 18.02% 66.23% 123.19%
Cash From Operating Activities -$2.215M -$2.700M -$4.900M
YoY Change -30.78% -44.9% 54.09%
INVESTING ACTIVITIES
Capital Expenditures $359.0K $174.0K $236.0K
YoY Change 266.33% -26.27% -202.61%
Acquisitions
YoY Change
Other Investing Activities $359.0K $1.000K
YoY Change
Cash From Investing Activities $0.00 -$173.0K -$236.0K
YoY Change -100.0% -26.69% 2.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.010M $5.328M $11.49M
YoY Change -53.62%
NET CHANGE
Cash From Operating Activities -2.215M -$2.700M -$4.900M
Cash From Investing Activities 0.000 -$173.0K -$236.0K
Cash From Financing Activities 1.010M $5.328M $11.49M
Net Change In Cash -1.205M $2.422M $6.381M
YoY Change -63.46% -62.04%
FREE CASH FLOW
Cash From Operating Activities -$2.215M -$2.700M -$4.900M
Capital Expenditures $359.0K $174.0K $236.0K
Free Cash Flow -$2.574M -$2.874M -$5.136M
YoY Change -21.95% -44.04% 74.1%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12626000 usd
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IncreaseInPropertyPlantAndEquipmentFromAccrual
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DebtIssuedForPrepaidInsurance
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AgentWarrantOfferingCostAllocatedToEquity
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RightOfUseAssetForLeaseLiability
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CY2023Q1 SINT Reduction Of Derivative Liability Upon Exercise Of Warrants
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5502000 usd
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ParValueOfCommonStockUponCashlessExerciseOfWarrants
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CY2023Q1 us-gaap Interest Paid Net
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CY2024Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
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RetainedEarningsAccumulatedDeficit
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2150000 shares
CY2024Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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CY2024Q1 SINT Offering Expenses Payable
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1200000 shares
CY2024Q1 us-gaap Net Income Loss
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CY2024Q1 SINT Net Income Effect Of Dilutive Warrant Securities
NetIncomeEffectOfDilutiveWarrantSecurities
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CY2024Q1 us-gaap Net Income Loss Attributable To Parent Diluted
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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17262895 shares
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
17197982 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q1 SINT Net Income Effect Of Dilutive Warrant Securities Per Share
NetIncomeEffectOfDilutiveWarrantSecuritiesPerShare
-0.17
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 SINT Net Income Effect Of Dilutive Warrant Securities
NetIncomeEffectOfDilutiveWarrantSecurities
-4149000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-4442000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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2272992 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
258067 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2558059 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2023Q1 SINT Net Income Effect Of Dilutive Warrant Securities Per Share
NetIncomeEffectOfDilutiveWarrantSecuritiesPerShare
-1.61
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.74
CY2024Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
732000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
691000 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
335000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
426000 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
109000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
104000 usd
CY2024Q1 us-gaap Inventory Net
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1176000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1221000 usd
CY2024Q1 us-gaap Inventory Gross
InventoryGross
700000 usd
CY2024Q1 us-gaap Inventory Noncurrent
InventoryNoncurrent
500000 usd
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
845000 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
304000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
851000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
610000 usd
CY2024Q1 SINT Accrued Payable Current
AccruedPayableCurrent
568000 usd
CY2023Q4 SINT Accrued Payable Current
AccruedPayableCurrent
163000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
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622000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
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631000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
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2041000 usd
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1404000 usd
CY2024Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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16000000 shares
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
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3400000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2024Q1 SINT Offering Expenses Payable
OfferingExpensesPayable
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CY2024Q1 us-gaap Shares Issued Price Per Share
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CY2024Q1 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
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0.070 pure
CY2024Q1 SINT Reimbursement Of Expenses And Legal Fees
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100000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
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640000 shares
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.275
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P5Y
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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2150000 shares
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5.60
CY2024Q1 us-gaap Proceeds From Issuance Initial Public Offering
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1030519000000 usd
CY2024Q1 SINT Public Float Threshold
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75000000 usd
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11909 shares
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109.77
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P6Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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11909 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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10838 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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140.68
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P6Y9M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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9571 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
82.43
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P6Y7M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11909 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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234.02
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11909 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
120.33
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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8303 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
330.56
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9840 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
119.65
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11909 shares
CY2024Q1 us-gaap Area Of Land
AreaOfLand
30764 sqft
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3900000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4100000 usd
CY2024Q1 SINT Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
200000 usd
CY2023Q1 SINT Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
200000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.087 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
643000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
738000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
668000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
688000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
709000 usd
CY2024Q1 SINT Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2124000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5570000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1505000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4065000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
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518000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3547000 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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1.00
CY2024Q2 us-gaap Share Price
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0.10
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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71600000 shares
CY2024Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.021
CY2024Q2 SINT Offering Expenses Payable
OfferingExpensesPayable
1500000 usd

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