$SMTK
SmartKem, Inc.

2022 Q3 Form 10-Q Financial Statement

#000155837022013855 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $26.00K $4.000K $30.00K
YoY Change
Cost Of Revenue $26.00K $2.000K $23.00K
YoY Change
Gross Profit $0.00 $2.000K $7.000K
YoY Change
Gross Profit Margin 0.0% 50.0% 23.33%
Selling, General & Admin $1.392M $1.370M $1.240M
YoY Change 1.75% 1.86% -68.87%
% of Gross Profit 68500.0% 17714.29%
Research & Development $1.346M $1.344M $1.459M
YoY Change -0.74% -0.81% -63.64%
% of Gross Profit 67200.0% 20842.86%
Depreciation & Amortization $46.00K $105.0K $54.00K
YoY Change 12.5%
% of Gross Profit 5250.0% 771.43%
Operating Expenses $2.738M $2.714M $2.699M
YoY Change 0.51% -0.07% -71.01%
Operating Profit -$2.461M -$2.418M -$2.408M
YoY Change 8.08% -1.71% -72.87%
Interest Expense -$1.492M -$1.283M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.492M -$1.283M -$354.0K
YoY Change 287.53% -2274.58% -27.61%
Pretax Income -$3.953M -$3.701M -$2.762M
YoY Change 48.5% 54.14% -70.51%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.000M -$3.700M -$2.762M
YoY Change 48.15% 54.1% -70.51%
Net Earnings / Revenue -15384.62% -92500.0% -9206.67%
Basic Earnings Per Share -$0.14 -$0.13 -$0.10
Diluted Earnings Per Share -$0.14 -$0.13 -$0.10
COMMON SHARES
Basic Shares Outstanding 26.95M 28.75M 28.44M
Diluted Shares Outstanding 29.12M 28.75M 28.44M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.304M $7.757M
YoY Change
Cash & Equivalents $6.300M $7.800M $10.60M
Short-Term Investments
Other Short-Term Assets $1.305M $1.643M
YoY Change
Inventory
Prepaid Expenses
Receivables $18.00K $4.000K $30.00K
Other Receivables $859.0K $1.677M
Total Short-Term Assets $8.486M $11.08M $13.27M
YoY Change -48.81% -42.06% -38.86%
LONG-TERM ASSETS
Property, Plant & Equipment $584.0K $677.0K $770.0K
YoY Change -27.45% -5.32% 20.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.000K $6.000K $6.000K
YoY Change 0.0% -37.33% -33.44%
Total Long-Term Assets $1.085M $1.232M $866.0K
YoY Change 10.6% 28.79% 2.58%
TOTAL ASSETS
Total Short-Term Assets $8.486M $11.08M $13.27M
Total Long-Term Assets $1.085M $1.232M $866.0K
Total Assets $9.571M $12.31M $14.13M
YoY Change -45.49% -38.69% -37.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $408.0K $457.0K $381.0K
YoY Change -19.37% -3.92% 1.77%
Accrued Expenses $977.0K $907.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.414M $1.398M $1.216M
YoY Change -2.35% -5.82% -29.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $275.0K $320.0K
YoY Change
Total Long-Term Liabilities $275.0K $320.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.414M $1.398M $1.216M
Total Long-Term Liabilities $275.0K $320.0K
Total Liabilities $1.689M $1.718M $1.235M
YoY Change 15.37% 13.18% -28.05%
SHAREHOLDERS EQUITY
Retained Earnings -$85.50M -$81.50M -$77.80M
YoY Change 18.09% 16.93% 15.6%
Common Stock $3.000K $3.000K $3.000K
YoY Change 0.0% 17.79% 17.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.882M $10.60M $12.90M
YoY Change
Total Liabilities & Shareholders Equity $9.571M $12.31M $14.13M
YoY Change -45.49% -38.69% -37.31%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$4.000M -$3.700M -$2.762M
YoY Change 48.15% 54.1% -70.51%
Depreciation, Depletion And Amortization $46.00K $105.0K $54.00K
YoY Change 12.5%
Cash From Operating Activities -$1.184M -$5.651M -$3.569M
YoY Change -4.6%
INVESTING ACTIVITIES
Capital Expenditures $9.000K $58.00K $41.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.000K -$58.00K -$41.00K
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 0.000 1.830M 1.840M
YoY Change -91.71%
NET CHANGE
Cash From Operating Activities -1.184M -5.651M -3.569M
Cash From Investing Activities -9.000K -58.00K -41.00K
Cash From Financing Activities 0.000 1.830M 1.840M
Net Change In Cash -1.193M -3.879M -1.579M
YoY Change -108.55%
FREE CASH FLOW
Cash From Operating Activities -$1.184M -$5.651M -$3.569M
Capital Expenditures $9.000K $58.00K $41.00K
Free Cash Flow -$1.193M -$5.709M -$3.610M
YoY Change

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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1638000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-412000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-19000
smtk Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
578000
smtk Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
499000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1057000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
901000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-134000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
435000
smtk Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-115000
smtk Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-120000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5651000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6029000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
58000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-58000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-121000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
738000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
738000
smtk Proceeds From Issuance Of Common Stock And Warrants In Private Placement
ProceedsFromIssuanceOfCommonStockAndWarrantsInPrivatePlacement
24638000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
2000000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
170000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2454000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
20000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1830000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22204000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-590000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-387000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4469000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15667000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12226000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7757000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16431000
us-gaap Interest Paid Net
InterestPaidNet
19000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
539000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
86000
CY2022Q2 smtk Number Of Issued Patents
NumberOfIssuedPatents
120
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-3700000
us-gaap Net Income Loss
NetIncomeLoss
-6500000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-81500000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7800000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Management’s Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of interim condensed consolidated financial statements in conformity U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including 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. The most significant estimates in the Company’s unaudited interim condensed consolidated financial statements relates to the valuation of common share, fair value of share options, and the valuation allowance of deferred tax assets. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates. </p>
CY2022Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-412000
CY2021Q4 smtk Accrued Credit Card Liabilities Current
AccruedCreditCardLiabilitiesCurrent
10000
CY2022Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
280000
CY2021Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
383000
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1190000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1423000
CY2022Q2 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2922915
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2582095
CY2022Q2 smtk Other Receivable And Other Prepaid Expenses
OtherReceivableAndOtherPrepaidExpenses
31000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-indent:0pt;margin:12pt 0pt 12pt 0pt;">Reclassifications</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain amounts in prior periods' interim condensed consolidated financial statements have been reclassified to conform to the current period’s presentation.</p>
us-gaap Sublease Income
SubleaseIncome
0
CY2022Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
294000
CY2021Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
256000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
578000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
688000
CY2022Q2 smtk Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
1505000
CY2021Q4 smtk Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
1070000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1815000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
802000
CY2022Q2 smtk Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
191000
CY2021Q4 smtk Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
217000
CY2022Q2 smtk Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
58000
CY2022Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1284000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1638000
CY2021Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-57000
CY2022Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
170000
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2454000
CY2022Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q4 smtk Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
66000
CY2022Q2 smtk Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
9000
CY2021Q4 smtk Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
20000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
167000
CY2022Q2 smtk Prepaid Service Charges And Property Taxes
PrepaidServiceChargesAndPropertyTaxes
83000
CY2021Q4 smtk Prepaid Service Charges And Property Taxes
PrepaidServiceChargesAndPropertyTaxes
58000
CY2022Q2 smtk Prepaid Utilities
PrepaidUtilities
31000
CY2021Q4 smtk Prepaid Utilities
PrepaidUtilities
51000
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
633000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
412000
CY2022Q2 smtk Prepaid Administrative Expenses
PrepaidAdministrativeExpenses
55000
CY2021Q4 smtk Prepaid Administrative Expenses
PrepaidAdministrativeExpenses
63000
CY2022Q2 smtk Prepaid Technical Fees
PrepaidTechnicalFees
212000
CY2021Q4 smtk Prepaid Technical Fees
PrepaidTechnicalFees
141000
CY2022Q2 smtk Prepaid Consulting Fees
PrepaidConsultingFees
629000
CY2021Q4 smtk Prepaid Consulting Fees
PrepaidConsultingFees
27000
CY2022Q2 us-gaap Prepaid Taxes
PrepaidTaxes
141000
CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
50000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
191000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
67000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
112000
CY2022Q2 smtk Accrued Credit Card Liabilities Current
AccruedCreditCardLiabilitiesCurrent
34000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1767000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1904000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1090000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1102000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
677000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
802000
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
457000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
510000
CY2022Q2 smtk Accrued Liabilities Current Lab Refurbishment
AccruedLiabilitiesCurrentLabRefurbishment
118000
CY2021Q4 smtk Accrued Liabilities Current Lab Refurbishment
AccruedLiabilitiesCurrentLabRefurbishment
131000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
0
us-gaap Sublease Income
SubleaseIncome
0
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
0
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
68000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
52000
us-gaap Operating Lease Cost
OperatingLeaseCost
131000
us-gaap Operating Lease Cost
OperatingLeaseCost
99000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
26000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
41000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
64000
us-gaap Variable Lease Cost
VariableLeaseCost
95000
us-gaap Variable Lease Cost
VariableLeaseCost
98000
CY2022Q2 us-gaap Lease Cost
LeaseCost
111000
CY2021Q2 us-gaap Lease Cost
LeaseCost
129000
us-gaap Lease Cost
LeaseCost
230000
us-gaap Lease Cost
LeaseCost
223000
CY2022Q2 us-gaap Lease Cost
LeaseCost
111000
CY2021Q2 us-gaap Lease Cost
LeaseCost
129000
us-gaap Lease Cost
LeaseCost
230000
us-gaap Lease Cost
LeaseCost
223000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
549000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
154000
CY2022Q2 smtk Operating Lease Assets Including Lease Assets Held For Sale
OperatingLeaseAssetsIncludingLeaseAssetsHeldForSale
549000
CY2021Q4 smtk Operating Lease Assets Including Lease Assets Held For Sale
OperatingLeaseAssetsIncludingLeaseAssetsHeldForSale
154000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
208000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
87000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
320000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
528000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
115000
CY2022Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
19000
CY2022Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1370000
CY2021Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1345000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2611000
us-gaap Operating Lease Payments
OperatingLeasePayments
115000
us-gaap Operating Lease Payments
OperatingLeasePayments
120000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
539000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
86000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M28D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0764
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0612
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
137000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
220000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
219000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
585000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
57000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
528000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
97000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5328000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1087000
smtk Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q2 us-gaap Preferred Stock Capital Shares Reserved For Future Issuance
PreferredStockCapitalSharesReservedForFutureIssuance
10000000
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1810749
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1953882
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.72323
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M21D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.12355
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
16500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.00000
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1937382
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.72087
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M21D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.12553
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
708624
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.23685
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y8M15D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
541000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1937382
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.72087
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y9M21D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
541000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
708624
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
195000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6095000
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1122000
CY2022Q2 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
504000
CY2021Q2 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
507000
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
1005000
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
4242000
CY2022Q2 smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
-12000
CY2021Q2 smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
3000
smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
16000
smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
16000
CY2022Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
165000
CY2021Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
172000
us-gaap General Insurance Expense
GeneralInsuranceExpense
331000
us-gaap General Insurance Expense
GeneralInsuranceExpense
253000
CY2022Q2 smtk Utilities Expense
UtilitiesExpense
1000
CY2021Q2 smtk Utilities Expense
UtilitiesExpense
1000
smtk Utilities Expense
UtilitiesExpense
2000
smtk Utilities Expense
UtilitiesExpense
2000
CY2022Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
247000
CY2021Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
83000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
434000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
105000
CY2022Q2 us-gaap Professional Fees
ProfessionalFees
449000
CY2021Q2 us-gaap Professional Fees
ProfessionalFees
569000
us-gaap Professional Fees
ProfessionalFees
738000
us-gaap Professional Fees
ProfessionalFees
691000
CY2022Q2 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
16000
CY2021Q2 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
10000
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
85000
CY2022Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
39000
CY2021Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
33000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
80000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
65000
CY2022Q2 smtk Defined Contribution Plan Due To Pension Fund
DefinedContributionPlanDueToPensionFund
0
CY2021Q4 smtk Defined Contribution Plan Due To Pension Fund
DefinedContributionPlanDueToPensionFund
0

Files In Submission

Name View Source Status
0001558370-22-013855-index-headers.html Edgar Link pending
0001558370-22-013855-index.html Edgar Link pending
0001558370-22-013855.txt Edgar Link pending
0001558370-22-013855-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
smtk-20220630x10q_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
smtk-20220630.xsd Edgar Link pending
smtk-20220630x10q.htm Edgar Link pending
smtk-20220630xex31d1.htm Edgar Link pending
smtk-20220630xex31d2.htm Edgar Link pending
smtk-20220630xex32d1.htm Edgar Link pending
smtk-20220630xex32d2.htm Edgar Link pending
smtk-20220630_lab.xml Edgar Link unprocessable
smtk-20220630_cal.xml Edgar Link unprocessable
smtk-20220630_def.xml Edgar Link unprocessable
smtk-20220630_pre.xml Edgar Link unprocessable