$SMTK
SmartKem, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022017674 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $40.00K $26.00K
YoY Change
Cost Of Revenue $33.00K $26.00K
YoY Change
Gross Profit $7.000K $0.00
YoY Change
Gross Profit Margin 17.5% 0.0%
Selling, General & Admin $5.071M $1.392M
YoY Change 1.75%
% of Gross Profit 72442.86%
Research & Development $5.802M $1.346M
YoY Change -0.74%
% of Gross Profit 82885.71%
Depreciation & Amortization $47.00K $46.00K
YoY Change
% of Gross Profit 671.43%
Operating Expenses $9.701M $2.738M
YoY Change 0.51%
Operating Profit -$9.694M -$2.461M
YoY Change 8.08%
Interest Expense -$1.777M -$1.492M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.492M
YoY Change 287.53%
Pretax Income -$11.47M -$3.953M
YoY Change 48.5%
Income Tax $24.00K $0.00
% Of Pretax Income
Net Earnings -$11.50M -$4.000M
YoY Change 48.15%
Net Earnings / Revenue -28737.5% -15384.62%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.40 -$0.14
COMMON SHARES
Basic Shares Outstanding 26.95M 26.95M
Diluted Shares Outstanding 29.12M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.235M $6.304M
YoY Change
Cash & Equivalents $4.200M $6.300M
Short-Term Investments
Other Short-Term Assets $825.0K $1.305M
YoY Change
Inventory
Prepaid Expenses
Receivables $30.00K $18.00K
Other Receivables $1.352M $859.0K
Total Short-Term Assets $6.442M $8.486M
YoY Change -54.31% -48.81%
LONG-TERM ASSETS
Property, Plant & Equipment $602.0K $584.0K
YoY Change -24.94% -27.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.000K $6.000K
YoY Change 0.0% 0.0%
Total Long-Term Assets $1.083M $1.085M
YoY Change 12.58% 10.6%
TOTAL ASSETS
Total Short-Term Assets $6.442M $8.486M
Total Long-Term Assets $1.083M $1.085M
Total Assets $7.525M $9.571M
YoY Change -50.03% -45.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $230.0K $408.0K
YoY Change -54.9% -19.37%
Accrued Expenses $887.0K $977.0K
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 $1.403M $1.414M
YoY Change -7.09% -2.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $239.0K $275.0K
YoY Change
Total Long-Term Liabilities $239.0K $275.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.403M $1.414M
Total Long-Term Liabilities $239.0K $275.0K
Total Liabilities $1.642M $1.689M
YoY Change 6.76% 15.37%
SHAREHOLDERS EQUITY
Retained Earnings -$86.60M -$85.50M
YoY Change 15.36% 18.09%
Common Stock $3.000K $3.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.883M $7.882M
YoY Change
Total Liabilities & Shareholders Equity $7.525M $9.571M
YoY Change -50.03% -45.49%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$11.50M -$4.000M
YoY Change 48.15%
Depreciation, Depletion And Amortization $47.00K $46.00K
YoY Change
Cash From Operating Activities -$2.214M -$1.184M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $12.00K $9.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$12.00K -$9.000K
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 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -2.214M -1.184M
Cash From Investing Activities -12.00K -9.000K
Cash From Financing Activities 0.000 0.000
Net Change In Cash -2.226M -1.193M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$2.214M -$1.184M
Capital Expenditures $12.00K $9.000K
Free Cash Flow -$2.226M -$1.193M
YoY Change

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IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
-46000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
311000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
614000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-29000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
478000
smtk Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-190000
smtk Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-196000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6835000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7301000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
67000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
282000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-67000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-282000
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
-850000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-666000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5922000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13955000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12226000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
764000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6304000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14719000
us-gaap Interest Paid Net
InterestPaidNet
19000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
583000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
86000
CY2022Q3 smtk Number Of Issued Patents
NumberOfIssuedPatents
120
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-4000000.0
us-gaap Net Income Loss
NetIncomeLoss
-10400000
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-85500000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6300000
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 with 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>
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2022Q3 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
0
CY2022Q3 smtk Recorded Grant Income And Research And Development Tax Credits
RecordedGrantIncomeAndResearchAndDevelopmentTaxCredits
273000
CY2021Q3 smtk Recorded Grant Income And Research And Development Tax Credits
RecordedGrantIncomeAndResearchAndDevelopmentTaxCredits
446000
smtk Recorded Grant Income And Research And Development Tax Credits
RecordedGrantIncomeAndResearchAndDevelopmentTaxCredits
851000
smtk Recorded Grant Income And Research And Development Tax Credits
RecordedGrantIncomeAndResearchAndDevelopmentTaxCredits
1126000
CY2022Q3 smtk Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
738000
CY2021Q4 smtk Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
1070000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1493000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3131000
CY2021Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-386000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-799000
CY2022Q3 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
CY2022Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
412000
CY2022Q3 smtk Prepaid Administrative Expenses
PrepaidAdministrativeExpenses
43000
CY2021Q4 smtk Prepaid Administrative Expenses
PrepaidAdministrativeExpenses
63000
CY2022Q3 smtk Prepaid Technical Fees
PrepaidTechnicalFees
199000
CY2021Q4 smtk Prepaid Technical Fees
PrepaidTechnicalFees
141000
CY2022Q3 smtk Prepaid Consulting Fees
PrepaidConsultingFees
455000
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3370165
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3022415
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>
CY2022Q3 smtk Prepaid Service Charges And Property Taxes
PrepaidServiceChargesAndPropertyTaxes
64000
CY2021Q4 smtk Prepaid Service Charges And Property Taxes
PrepaidServiceChargesAndPropertyTaxes
58000
CY2022Q3 smtk Prepaid Utilities
PrepaidUtilities
32000
CY2021Q4 smtk Prepaid Utilities
PrepaidUtilities
51000
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
512000
CY2021Q4 smtk Prepaid Consulting Fees
PrepaidConsultingFees
27000
CY2022Q3 us-gaap Prepaid Taxes
PrepaidTaxes
77000
CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
50000
CY2022Q3 smtk Other Receivable And Other Prepaid Expenses
OtherReceivableAndOtherPrepaidExpenses
44000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1426000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
802000
CY2022Q3 smtk Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
178000
CY2021Q4 smtk Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
217000
CY2022Q3 smtk Term Of Internet Advertising Agreement
TermOfInternetAdvertisingAgreement
P1Y
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1603000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1904000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1019000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1102000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
584000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
802000
us-gaap Variable Lease Cost
VariableLeaseCost
143000
us-gaap Variable Lease Cost
VariableLeaseCost
105000
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
408000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
510000
CY2022Q3 smtk Accrued Liabilities Current Lab Refurbishment
AccruedLiabilitiesCurrentLabRefurbishment
108000
CY2021Q4 smtk Accrued Liabilities Current Lab Refurbishment
AccruedLiabilitiesCurrentLabRefurbishment
131000
CY2022Q3 smtk Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
59000
CY2021Q4 smtk Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
66000
CY2022Q3 smtk Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
10000
CY2021Q4 smtk Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
20000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
224000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
191000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
68000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
112000
CY2022Q3 smtk Accrued Credit Card Liabilities Current
AccruedCreditCardLiabilitiesCurrent
29000
CY2021Q4 smtk Accrued Credit Card Liabilities Current
AccruedCreditCardLiabilitiesCurrent
10000
CY2022Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
309000
CY2021Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
383000
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1215000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1423000
us-gaap Sublease Income
SubleaseIncome
0
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
0
us-gaap Sublease Income
SubleaseIncome
0
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
0
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
65000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
60000
us-gaap Operating Lease Cost
OperatingLeaseCost
196000
us-gaap Operating Lease Cost
OperatingLeaseCost
159000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
6000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
29000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
48000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
7000
CY2022Q3 us-gaap Lease Cost
LeaseCost
115000
CY2021Q3 us-gaap Lease Cost
LeaseCost
70000
us-gaap Lease Cost
LeaseCost
345000
us-gaap Lease Cost
LeaseCost
293000
CY2022Q3 us-gaap Lease Cost
LeaseCost
115000
CY2021Q3 us-gaap Lease Cost
LeaseCost
70000
us-gaap Lease Cost
LeaseCost
345000
us-gaap Lease Cost
LeaseCost
293000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
495000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
154000
CY2022Q3 smtk Operating Lease Assets Including Lease Assets Held For Sale
OperatingLeaseAssetsIncludingLeaseAssetsHeldForSale
495000
CY2021Q4 smtk Operating Lease Assets Including Lease Assets Held For Sale
OperatingLeaseAssetsIncludingLeaseAssetsHeldForSale
154000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
199000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
87000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
275000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
474000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
115000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.39093
us-gaap Operating Lease Payments
OperatingLeasePayments
190000
us-gaap Operating Lease Payments
OperatingLeasePayments
196000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
583000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
86000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M20D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0769
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0607
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
66000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
218000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
217000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
518000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
44000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
474000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
770000
smtk Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2022Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
12500
CY2022Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
22473
CY2022Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
360000
CY2022Q2 smtk Term Of Internet Advertising Agreement
TermOfInternetAdvertisingAgreement
P1Y
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q3 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
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.11185
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
887888
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
37250
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.00000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
468000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.00000
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2384632
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.77322
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M14D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y6M3D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
216000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2384632
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.77322
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y9M14D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
216000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
887888
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
123000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
318000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6097000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1470000
smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
22000
CY2022Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
164000
CY2021Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
168000
CY2022Q3 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
508000
CY2021Q3 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
577000
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
1513000
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
4792000
CY2022Q3 smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
9000
CY2021Q3 smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
6000
smtk Rent And Property Tax Expense
RentAndPropertyTaxExpense
24000
us-gaap General Insurance Expense
GeneralInsuranceExpense
495000
us-gaap General Insurance Expense
GeneralInsuranceExpense
323000
CY2021Q3 smtk Utilities Expense
UtilitiesExpense
1000
smtk Utilities Expense
UtilitiesExpense
2000
smtk Utilities Expense
UtilitiesExpense
3000
CY2022Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
369000
CY2021Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
316000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
803000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
421000
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
310000
CY2021Q3 us-gaap Professional Fees
ProfessionalFees
248000
us-gaap Professional Fees
ProfessionalFees
1048000
us-gaap Professional Fees
ProfessionalFees
956000
CY2022Q3 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
32000
CY2021Q3 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
52000
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
117000
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
178000
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1392000
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1368000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4002000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6695000
CY2022Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
38000
CY2021Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
38000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
118000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
103000
CY2022Q3 smtk Defined Contribution Plan Due To Pension Fund
DefinedContributionPlanDueToPensionFund
0
CY2021Q4 smtk Defined Contribution Plan Due To Pension Fund
DefinedContributionPlanDueToPensionFund
0

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0001558370-22-017674.txt Edgar Link pending
0001558370-22-017674-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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smtk-20220930.xsd Edgar Link pending
smtk-20220930x10q.htm Edgar Link pending
smtk-20220930xex31d1.htm Edgar Link pending
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smtk-20220930_pre.xml Edgar Link unprocessable
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smtk-20220930_cal.xml Edgar Link unprocessable