2021 Q3 Form 10-Q Financial Statement

#000143774921025516 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2021 Q1
Revenue $0.00 $394.0K $390.0K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.050M $301.9K $224.8K
YoY Change 48062.39%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0K $300.0K $297.0K
YoY Change
% of Gross Profit
Operating Expenses $1.050M $2.790M $1.727M
YoY Change 48062.39%
Operating Profit -$3.228M $1.586M $4.421M
YoY Change 148101.52%
Interest Expense -$2.167M $382.0K $459.0K
YoY Change
% of Operating Profit 24.09% 10.38%
Other Income/Expense, Net -$319.0K -$382.0K
YoY Change
Pretax Income -$3.217M $1.587M $4.430M
YoY Change 147582.14%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$3.217M -$2.778M -$2.046M
YoY Change 147582.14%
Net Earnings / Revenue -705.08% -524.62%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share -$189.2K $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 0.000 0.000 0.000
Diluted Shares Outstanding 0.000 0.000 0.000

Balance Sheet

Concept 2021 Q3 2021 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $139.6M $139.5M $139.6M
YoY Change 506092.06%
Cash & Equivalents $865.0K $20.58M $23.39M
Short-Term Investments $138.7M $138.7M $138.7M
Other Short-Term Assets $295.0K $322.2K $391.7K
YoY Change 43.28%
Inventory
Prepaid Expenses $295.0K $322.2K $391.7K
Receivables
Other Receivables
Total Short-Term Assets $139.9M $139.8M $140.0M
YoY Change 59814.78%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets -$5.00 $3.00 -$1.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $139.9M $139.8M $140.0M
Total Long-Term Assets -$5.00 $3.00 -$1.00
Total Assets $139.9M $139.8M $140.0M
YoY Change 59814.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $370.3K $212.9K $125.6K
YoY Change 510.23%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $0.00 $0.00
YoY Change 566.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.130M $4.972M $4.885M
YoY Change 2809.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.65M $11.47M $13.36M
YoY Change
Total Long-Term Liabilities $13.65M $11.47M $13.36M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.130M $4.972M $4.885M
Total Long-Term Liabilities $13.65M $11.47M $13.36M
Total Liabilities $19.78M $16.44M $18.24M
YoY Change 9287.64%
SHAREHOLDERS EQUITY
Retained Earnings -$18.58M -$15.37M -$16.95M
YoY Change 853171.85%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$18.58M -$15.37M -$16.95M
YoY Change
Total Liabilities & Shareholders Equity $139.9M $139.8M $140.0M
YoY Change 59814.78%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income -$3.217M -$2.778M -$2.046M
YoY Change 147582.14%
Depreciation, Depletion And Amortization $270.0K $300.0K $297.0K
YoY Change
Cash From Operating Activities -$855.8K -$143.1K -$1.272M
YoY Change 39194.31%
INVESTING ACTIVITIES
Capital Expenditures $2.690M $1.670M $10.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$15.16K $4.100K -$17.34K
YoY Change
Cash From Investing Activities -$15.16K $4.100K -$1.273M
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 1.000M 30.00K $25.86M
YoY Change 3260.44%
NET CHANGE
Cash From Operating Activities -855.8K -143.1K -$1.272M
Cash From Investing Activities -15.16K 4.100K -$1.273M
Cash From Financing Activities 1.000M 30.00K $25.86M
Net Change In Cash 129.0K -139.0K $23.32M
YoY Change 367.77%
FREE CASH FLOW
Cash From Operating Activities -$855.8K -$143.1K -$1.272M
Capital Expenditures $2.690M $1.670M $10.00K
Free Cash Flow -$3.546M -$1.813M -$1.282M
YoY Change

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us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><i>Concentration of Credit Risk</i></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;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, <em style="font: inherit;"> may </em>exceed the Federal Depository Insurance Coverage of <em style="font: inherit;">$250,000.</em> At <em style="font: inherit;"> September 30, 2021</em>, the Company has <em style="font: inherit;">not</em> experienced losses on these accounts and management believes the Company is <em style="font: inherit;">not</em> exposed to significant risks on such accounts.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><i>Use of Estimates</i></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 preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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.</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:18pt;"> </p>
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