2021 Form 10-K Financial Statement

#000143774922008975 Filed on April 14, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $5.383M $673.1K $3.506M
YoY Change 53.51% -77.17% -69.69%
Cost Of Revenue $2.829M $478.4K $2.525M
YoY Change 12.02% -67.06% -56.84%
Gross Profit $2.554M $194.7K $980.9K
YoY Change 160.33% -86.99% -82.84%
Gross Profit Margin 47.44% 28.92% 27.98%
Selling, General & Admin $1.909M $596.0K $2.472M
YoY Change -22.78% -53.0% -47.05%
% of Gross Profit 74.76% 306.14% 252.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $129.0K $20.50K $119.0K
YoY Change 8.4% -53.08% -4.03%
% of Gross Profit 5.05% 10.53% 12.13%
Operating Expenses $1.909M $596.0K $2.472M
YoY Change -22.78% -53.0% -47.05%
Operating Profit $644.5K -$401.3K -$1.491M
YoY Change -143.22% -275.73% -242.36%
Interest Expense $24.82K -$4.170K $24.03K
YoY Change 3.32% -196.53% 200.8%
% of Operating Profit 3.85%
Other Income/Expense, Net $283.8K -$412.7K -$688.6K
YoY Change -141.21% -3708.7%
Pretax Income $928.3K -$818.2K -$2.180M
YoY Change -142.58% -451.63% -304.37%
Income Tax $202.1K $86.04K -$431.0K
% Of Pretax Income 21.77%
Net Earnings $726.2K -$904.2K -$1.749M
YoY Change -141.52% -912.86% -361.96%
Net Earnings / Revenue 13.49% -134.34% -49.88%
Basic Earnings Per Share $0.71 -$1.71
Diluted Earnings Per Share $707.3K -$878.8K -$1.71
COMMON SHARES
Basic Shares Outstanding 1.024M 1.025M
Diluted Shares Outstanding 1.027M 1.025M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.447M $1.899M $1.899M
YoY Change 28.85% -47.21% -47.21%
Cash & Equivalents $1.899M
Short-Term Investments
Other Short-Term Assets $505.7K $257.6K $257.6K
YoY Change 96.3% -54.37% -54.37%
Inventory $243.1K $163.6K $163.6K
Prepaid Expenses $257.6K
Receivables $305.4K $262.1K $262.1K
Other Receivables $693.6K $955.5K $955.5K
Total Short-Term Assets $4.195M $3.538M $3.538M
YoY Change 18.56% -32.1% -32.1%
LONG-TERM ASSETS
Property, Plant & Equipment $657.1K $258.9K $704.6K
YoY Change -6.73% -19.94% -13.94%
Goodwill $750.0K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $2.510K $2.510K
YoY Change -100.0% -99.48% -99.48%
Total Long-Term Assets $1.407M $1.457M $1.457M
YoY Change -3.43% -28.83% -28.83%
TOTAL ASSETS
Total Short-Term Assets $4.195M $3.538M $3.538M
Total Long-Term Assets $1.407M $1.457M $1.457M
Total Assets $5.602M $4.995M $4.995M
YoY Change 12.15% -31.17% -31.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $212.2K $62.02K $62.02K
YoY Change 242.18% -84.39% -84.39%
Accrued Expenses $450.3K $219.3K $262.6K
YoY Change 71.46% -31.37% -30.93%
Deferred Revenue $80.88K
YoY Change -37.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.320K $304.8K $304.8K
YoY Change -96.94%
Total Short-Term Liabilities $752.7K $710.3K $710.4K
YoY Change 5.96% -44.56% -44.56%
LONG-TERM LIABILITIES
Long-Term Debt $57.73K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $327.5K $376.9K $376.9K
YoY Change -13.11% -5.7% -5.7%
Total Long-Term Liabilities $385.2K $376.9K $376.9K
YoY Change 2.2% -5.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $752.7K $710.3K $710.4K
Total Long-Term Liabilities $385.2K $376.9K $376.9K
Total Liabilities $1.138M $1.087M $1.087M
YoY Change 4.66% -35.32% -35.32%
SHAREHOLDERS EQUITY
Retained Earnings -$16.03M
YoY Change 12.33%
Common Stock $19.94M
YoY Change 0.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.464M $3.908M $3.908M
YoY Change
Total Liabilities & Shareholders Equity $5.602M $4.995M $4.995M
YoY Change 12.15% -31.17% -31.17%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $726.2K -$904.2K -$1.749M
YoY Change -141.52% -912.86% -361.96%
Depreciation, Depletion And Amortization $129.0K $20.50K $119.0K
YoY Change 8.4% -53.08% -4.03%
Cash From Operating Activities $813.8K -$478.8K -$1.590M
YoY Change -151.16% -298.18% -241.52%
INVESTING ACTIVITIES
Capital Expenditures $81.54K $0.00 $4.913K
YoY Change 1559.76% -100.0% -97.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$81.54K $0.00 -$4.913K
YoY Change 1559.76% -100.0% -94.38%
FINANCING ACTIVITIES
Cash Dividend Paid $383.9K
YoY Change 203.17%
Common Stock Issuance & Retirement, Net $0.00 $16.20K
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$184.4K 9.450K -$103.0K
YoY Change 78.93% -106.75% -62.88%
NET CHANGE
Cash From Operating Activities $813.8K -478.8K -$1.590M
Cash From Investing Activities -$81.54K 0.000 -$4.913K
Cash From Financing Activities -$184.4K 9.450K -$103.0K
Net Change In Cash $547.8K -469.4K -$1.698M
YoY Change -132.26% -589.15% -323.82%
FREE CASH FLOW
Cash From Operating Activities $813.8K -$478.8K -$1.590M
Capital Expenditures $81.54K $0.00 $4.913K
Free Cash Flow $732.2K -$478.8K -$1.595M
YoY Change -145.9% -293.59% -268.06%

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P5Y
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P5Y
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0.74
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1.14
CY2021Q4 us-gaap Inventory Net
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163619 USD
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3817000 USD
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3745861 USD
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269261 USD
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258856 USD
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129000 USD
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119000 USD
CY2021Q4 us-gaap Goodwill
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750000 USD
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0 USD
CY2021Q4 us-gaap Notes Payable
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53328
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0.158 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.218 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.077 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.047 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.218 pure
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197 pure
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1028863
CY2021 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
53789
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
975074
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
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6666
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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2.820
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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6666
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.400
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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53328
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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3.384
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6666
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65040 USD
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34224 USD
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0.125

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