2022 Q1 Form 10-Q Financial Statement
#000143774922012591 Filed on May 16, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $1.821M | $809.1K |
| YoY Change | 125.03% | -51.66% |
| Cost Of Revenue | $1.253M | $565.1K |
| YoY Change | 121.76% | -47.75% |
| Gross Profit | $567.5K | $244.0K |
| YoY Change | 132.63% | -58.8% |
| Gross Profit Margin | 31.17% | 30.15% |
| Selling, General & Admin | $692.5K | $499.5K |
| YoY Change | 38.63% | -27.98% |
| % of Gross Profit | 122.03% | 204.76% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $33.09K | $25.30K |
| YoY Change | 30.79% | -22.89% |
| % of Gross Profit | 5.83% | 10.37% |
| Operating Expenses | $692.5K | $499.5K |
| YoY Change | 38.63% | -27.98% |
| Operating Profit | -$125.0K | -$255.6K |
| YoY Change | -51.09% | 151.84% |
| Interest Expense | $6.154K | $5.657K |
| YoY Change | 8.79% | 360.29% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $93.85K | -$5.657K |
| YoY Change | -1758.94% | -205.8% |
| Pretax Income | -$31.15K | -$261.2K |
| YoY Change | -88.08% | 171.73% |
| Income Tax | $0.00 | $4.426K |
| % Of Pretax Income | ||
| Net Earnings | -$31.15K | -$265.7K |
| YoY Change | -88.27% | 176.33% |
| Net Earnings / Revenue | -1.71% | -32.83% |
| Basic Earnings Per Share | -$0.03 | -$0.26 |
| Diluted Earnings Per Share | -$31.94K | -$258.2K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 975.2K | 1.029M |
| Diluted Shares Outstanding | 994.7K | 1.035M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $3.094M | $1.792M |
| YoY Change | 72.69% | -43.0% |
| Cash & Equivalents | $3.094M | $1.792M |
| Short-Term Investments | ||
| Other Short-Term Assets | $210.7K | $172.1K |
| YoY Change | 22.39% | -63.11% |
| Inventory | $281.2K | $243.1K |
| Prepaid Expenses | $210.7K | $172.1K |
| Receivables | $291.0K | $244.5K |
| Other Receivables | $693.6K | $955.5K |
| Total Short-Term Assets | $4.571M | $3.358M |
| YoY Change | 36.11% | -25.58% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $249.8K | $244.4K |
| YoY Change | 2.21% | -20.82% |
| Goodwill | $750.0K | $750.0K |
| YoY Change | 0.0% | 0.0% |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $2.510K | |
| YoY Change | -99.48% | |
| Total Long-Term Assets | $1.374M | $1.433M |
| YoY Change | -4.11% | -29.04% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $4.571M | $3.358M |
| Total Long-Term Assets | $1.374M | $1.433M |
| Total Assets | $5.945M | $4.791M |
| YoY Change | 24.08% | -26.65% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $496.2K | $106.0K |
| YoY Change | 368.09% | 288.0% |
| Accrued Expenses | $397.9K | $235.3K |
| YoY Change | 69.07% | 31.35% |
| Deferred Revenue | $180.9K | $80.88K |
| YoY Change | 123.64% | -38.18% |
| Short-Term Debt | $0.00 | $304.8K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | $9.460K | |
| YoY Change | ||
| Total Short-Term Liabilities | $1.131M | $770.9K |
| YoY Change | 46.67% | 19.76% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $54.10K | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $315.7K | $369.5K |
| YoY Change | -14.56% | -5.09% |
| Total Long-Term Liabilities | $369.8K | $369.5K |
| YoY Change | 0.08% | -5.09% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $1.131M | $770.9K |
| Total Long-Term Liabilities | $369.8K | $369.5K |
| Total Liabilities | $1.501M | $1.140M |
| YoY Change | 31.57% | 10.4% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$15.34M | -$16.30M |
| YoY Change | -5.89% | 13.42% |
| Common Stock | $19.78M | $19.95M |
| YoY Change | -0.84% | 0.41% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $4.444M | $3.651M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $5.945M | $4.791M |
| YoY Change | 24.08% | -26.65% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$31.15K | -$265.7K |
| YoY Change | -88.27% | 176.33% |
| Depreciation, Depletion And Amortization | $33.09K | $25.30K |
| YoY Change | 30.79% | -22.89% |
| Cash From Operating Activities | $662.1K | -$99.19K |
| YoY Change | -767.5% | -68.09% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $0.00 | $1.203K |
| YoY Change | -100.0% | -75.51% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | $0.00 | -$1.203K |
| YoY Change | -100.0% | -75.51% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -$14.68K | -$6.835K |
| YoY Change | 114.72% | -95.05% |
| NET CHANGE | ||
| Cash From Operating Activities | $662.1K | -$99.19K |
| Cash From Investing Activities | $0.00 | -$1.203K |
| Cash From Financing Activities | -$14.68K | -$6.835K |
| Net Change In Cash | $647.4K | -$107.2K |
| YoY Change | -703.78% | -76.37% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $662.1K | -$99.19K |
| Capital Expenditures | $0.00 | $1.203K |
| Free Cash Flow | $662.1K | -$100.4K |
| YoY Change | -759.5% | -68.21% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
976330 | |
| CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3850090 | USD |
| CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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|
3817000 | USD |
| CY2022Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.03 | |
| CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.03 | |
| CY2022Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
333306 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
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| CY2022Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
975074 | |
| CY2022Q1 | skas |
Sharebased Compensation Weighted Average Remaining Amortization Period
SharebasedCompensationWeightedAverageRemainingAmortizationPeriod
|
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| CY2022Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.03 | |
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Common Stock Par Or Stated Value Per Share
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|
0.03 | |
| CY2022Q1 | us-gaap |
Common Stock Shares Authorized
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|
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Common Stock Shares Authorized
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|
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| CY2022Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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| CY2022Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
976330 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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| CY2021Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
305409 | USD |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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|
3094329 | USD |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
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| CY2022Q1 | us-gaap |
Accounts Receivable Net Current
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|
291016 | USD |
| CY2022Q1 | us-gaap |
Inventory Net
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|
281168 | USD |
| CY2021Q4 | us-gaap |
Inventory Net
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|
243104 | USD |
| CY2022Q1 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
693578 | USD |
| CY2021Q4 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
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| CY2022Q1 | us-gaap |
Prepaid Expense Current
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|
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| CY2021Q4 | us-gaap |
Prepaid Expense Current
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|
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| CY2022Q1 | us-gaap |
Assets Current
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|
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| CY2021Q4 | us-gaap |
Assets Current
AssetsCurrent
|
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| CY2022Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
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| CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
269261 | USD |
| CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
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| CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
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| CY2022Q1 | us-gaap |
Goodwill
Goodwill
|
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| CY2021Q4 | us-gaap |
Goodwill
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|
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| CY2022Q1 | us-gaap |
Other Assets
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|
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| CY2021Q4 | us-gaap |
Other Assets
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| CY2022Q1 | us-gaap |
Assets
Assets
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| CY2021Q4 | us-gaap |
Assets
Assets
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Accounts Payable Current
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Accounts Payable Current
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Contract With Customer Liability Current
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Contract With Customer Liability Current
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Accrued Liabilities Current
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Accrued Liabilities Current
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|
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Notes Payable Current
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|
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| CY2021Q4 | us-gaap |
Notes Payable Current
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|
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| CY2022Q1 | us-gaap |
Operating Lease Liability Current
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| CY2021Q4 | us-gaap |
Operating Lease Liability Current
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| CY2022Q1 | us-gaap |
Liabilities Current
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| CY2021Q4 | us-gaap |
Liabilities Current
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|
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Long Term Notes Payable
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|
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| CY2021Q4 | us-gaap |
Long Term Notes Payable
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|
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| CY2022Q1 | us-gaap |
Operating Lease Liability Noncurrent
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| CY2021Q4 | us-gaap |
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|
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| CY2022Q1 | us-gaap |
Liabilities
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|
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| CY2021Q4 | us-gaap |
Liabilities
Liabilities
|
1137927 | USD |
| CY2022Q1 | us-gaap |
Common Stock Value
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|
29290 | USD |
| CY2021Q4 | us-gaap |
Common Stock Value
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|
29252 | USD |
| CY2022Q1 | us-gaap |
Additional Paid In Capital Common Stock
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|
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| CY2021Q4 | us-gaap |
Additional Paid In Capital Common Stock
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|
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| CY2022Q1 | us-gaap |
Retained Earnings Accumulated Deficit
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|
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| CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
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|
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| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4444256 | USD |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4463909 | USD |
| CY2022Q1 | us-gaap |
Liabilities And Stockholders Equity
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|
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| CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
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|
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| CY2022Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
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|
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| CY2021Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
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|
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| CY2022Q1 | us-gaap |
Cost Of Goods And Services Sold
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|
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| CY2021Q1 | us-gaap |
Cost Of Goods And Services Sold
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|
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| CY2022Q1 | us-gaap |
Gross Profit
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|
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| CY2021Q1 | us-gaap |
Gross Profit
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|
243961 | USD |
| CY2022Q1 | us-gaap |
Selling General And Administrative Expense
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|
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| CY2021Q1 | us-gaap |
Selling General And Administrative Expense
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|
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| CY2022Q1 | us-gaap |
Operating Income Loss
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|
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| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
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| CY2022Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
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| CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
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| CY2021Q1 | us-gaap |
Interest Expense
InterestExpense
|
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| CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
93846 | USD |
| CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-5657 | USD |
| CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
-31152 | USD |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
-261240 | USD |
| CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
| CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
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| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
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| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-265666 | USD |
| CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.03 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.26 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
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| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
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| CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
994746 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1035031 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3907732 | USD |
| CY2021Q1 | skas |
Amortization Of Deferred Stock Based Compensation
AmortizationOfDeferredStockBasedCompensation
|
8598 | USD |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-265666 | USD |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3650664 | USD |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4463909 | USD |
| CY2022Q1 | skas |
Adjustment To Additional Paid In Capital Issuance Of Additional Common Stock
AdjustmentToAdditionalPaidInCapitalIssuanceOfAdditionalCommonStock
|
-0 | USD |
| CY2022Q1 | skas |
Amortization Of Deferred Stock Based Compensation
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|
11499 | USD |
| CY2022Q1 | us-gaap |
Net Income Loss
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|
-31152 | USD |
| CY2022Q1 | us-gaap |
Stockholders Equity
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|
4444256 | USD |
| CY2022Q1 | us-gaap |
Net Income Loss
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| CY2021Q1 | us-gaap |
Net Income Loss
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Depreciation And Amortization
DepreciationAndAmortization
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| CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
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| CY2022Q1 | us-gaap |
Share Based Compensation
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|
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| CY2021Q1 | us-gaap |
Share Based Compensation
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|
8598 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
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| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable
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| CY2022Q1 | us-gaap |
Increase Decrease In Inventories
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| CY2021Q1 | us-gaap |
Increase Decrease In Inventories
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|
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| CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Expense
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|
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| CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-85485 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
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|
100000 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
283987 | USD |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
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| CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-6690 | USD |
| CY2021Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
16024 | USD |
| CY2022Q1 | us-gaap |
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
693251 | USD |
| CY2021Q1 | us-gaap |
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
166475 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
662099 | USD |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-99191 | USD |
| CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
-0 | USD |
| CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1203 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | USD |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1203 | USD |
| CY2022Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
3483 | USD |
| CY2022Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
11193 | USD |
| CY2021Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
6835 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-14676 | USD |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-6835 | USD |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
647423 | USD |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-107229 | USD |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2446906 | USD |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1899082 | USD |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3094329 | USD |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1791853 | USD |
| CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
6154 | USD |
| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
5657 | USD |
| CY2021Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
4426 | USD |
| CY2022Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">NOTE <em style="font: inherit;">1</em> - <span style="text-decoration: underline; ">Basis of Presentation</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The accompanying unaudited condensed consolidated financial statements of Saker Aviation Services, Inc. (the “Company”) and its subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and in accordance with the instructions to Form <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">10</em>-Q. Accordingly, they do <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">not</em> include all of the information and disclosures required by GAAP for annual financial statements and should be read in conjunction with the financial statements and related footnotes included in the Company’s Annual Report on Form <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">10</em>-K for the year ended <em style="font: inherit;"> December 31, 2021.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The condensed consolidated balance sheet as of <em style="font: inherit;"> March 31, 2022 </em>and the condensed consolidated statements of operations and cash flows for the <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2022 </em>and <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">2021</em> have been prepared by the Company without audit. In the opinion of the Company’s management, all necessary adjustments (consisting of normal recurring accruals) have been included to make the Company’s financial position as of <em style="font: inherit;"> March 31, 2022 </em>and its results of operations, stockholders’ equity, and cash flows for the <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2022 </em><em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">not</em> misleading. The results of operations for the <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2022 </em>are <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">not</em> necessarily indicative of the results to be expected for any full year or any other interim period.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The COVID-<em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">19</em> pandemic has impacted the global and United States economies. Federal, state, and local governments implemented certain travel restrictions, “stay-at-home” orders, and social distancing initiatives which negatively impacted our operations and those of our customers. As a result of the COVID-<em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">19</em> pandemic, on <em style="font: inherit;"> March 17, 2020 </em>all sightseeing tour operations at the Downtown Manhattan Heliport ceased. On <em style="font: inherit;"> July 20, 2020, </em>New York City started Phase <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">4</em> of the city’s reopening. Sightseeing tour operators at the heliport restarted operations under this phase.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">For the period <em style="font: inherit;"> July 20, 2020 </em>through <em style="font: inherit;"> March 31, 2022, </em>sightseeing tour operators experienced much lower demand for tours as compared to pre-pandemic levels of activity. Beginning in <em style="font: inherit;"> April 2022, </em>sightseeing tour operators have seen an increase in activity and a much higher demand for tours. There can be <em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">no</em> assurance that this increased activity will continue as demand for sightseeing tours will depend on future developments in the COVID-<em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">10</em> pandemic, including the duration and spread and related travel advisories and restrictions and the impact on overall demand for air travel. The COVID-<em class="GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="font: inherit;">19</em> pandemic has had a less substantial impact on our operations at our Kansas FBO and MRO.</p> | |
| CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3094329 | USD |
| CY2022Q1 | skas |
Working Capital
WorkingCapital
|
3440026 | USD |
| CY2022Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
1820739 | USD |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-31152 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
662099 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-14676 | USD |
| CY2015 | skas |
Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlights
|
0.20 | pure |
| CY2015 | skas |
Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights By Year One
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlightsByYearOne
|
0.40 | pure |
| CY2015 | skas |
Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights By Year Two
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlightsByYearTwo
|
0.50 | pure |
| CY2022Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
123000 | USD |
| CY2021Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
0 | USD |
| CY2022Q1 | skas |
Concession Fees
ConcessionFees
|
249000 | USD |
| CY2021Q1 | skas |
Concession Fees
ConcessionFees
|
0 | USD |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-31152 | USD |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-265666 | USD |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
975186 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1028863 | |
| CY2022Q1 | skas |
Incremental Common Shares Attributable To Options And Warrants
IncrementalCommonSharesAttributableToOptionsAndWarrants
|
19560 | |
| CY2021Q1 | skas |
Incremental Common Shares Attributable To Options And Warrants
IncrementalCommonSharesAttributableToOptionsAndWarrants
|
6168 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
994746 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1035031 | |
| CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
11499 | USD |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
8598 | USD |
| CY2022Q1 | skas |
Shares Based Compensation Stock Options Unamortized Fair Value
SharesBasedCompensationStockOptionsUnamortizedFairValue
|
34496 | USD |
| CY2022Q1 | us-gaap |
Inventory Net
InventoryNet
|
281168 | USD |
| CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
243104 | USD |
| CY2022Q1 | us-gaap |
Inventory Net
InventoryNet
|
281168 | USD |
| CY2021Q1 | us-gaap |
Inventory Net
InventoryNet
|
243104 | USD |
