$SMTK
SmartKem, Inc.

2024 Q4 Form 10-Q Financial Statement

#000155837024015051 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change -100.0%
Cost Of Revenue $0.00
YoY Change -100.0%
Gross Profit $0.00
YoY Change -100.0%
Gross Profit Margin
Selling, General & Admin $1.578M
YoY Change 24.45%
% of Gross Profit
Research & Development $1.504M
YoY Change -4.08%
% of Gross Profit
Depreciation & Amortization $69.00K
YoY Change 68.29%
% of Gross Profit
Operating Expenses $3.125M
YoY Change 5.79%
Operating Profit -$2.838M
YoY Change 5.31%
Interest Expense -$4.000K
YoY Change -99.56%
% of Operating Profit
Other Income/Expense, Net -$4.000K
YoY Change -98.78%
Pretax Income -$2.842M
YoY Change -5.96%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.842M
YoY Change -5.96%
Net Earnings / Revenue
Basic Earnings Per Share -$0.86
Diluted Earnings Per Share -$0.86
COMMON SHARES
Basic Shares Outstanding 1.780M 1.750M
Diluted Shares Outstanding 3.309M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.783M
YoY Change -84.09%
Cash & Equivalents $1.800M
Short-Term Investments
Other Short-Term Assets $804.0K
YoY Change -4.06%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.750M
YoY Change -70.55%
LONG-TERM ASSETS
Property, Plant & Equipment $353.0K
YoY Change -29.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.000K
YoY Change 0.0%
Total Long-Term Assets $556.0K
YoY Change -34.28%
TOTAL ASSETS
Total Short-Term Assets $3.750M
Total Long-Term Assets $556.0K
Total Assets $4.306M
YoY Change -68.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $747.0K
YoY Change 94.03%
Accrued Expenses $165.0K
YoY Change -87.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.995M
YoY Change 9.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $31.00K
YoY Change -97.86%
Total Long-Term Liabilities $31.00K
YoY Change -97.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.995M
Total Long-Term Liabilities $31.00K
Total Liabilities $2.026M
YoY Change -38.21%
SHAREHOLDERS EQUITY
Retained Earnings -$109.8M
YoY Change 17.22%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.280M
YoY Change
Total Liabilities & Shareholders Equity $4.306M
YoY Change -68.29%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$2.842M
YoY Change -5.96%
Depreciation, Depletion And Amortization $69.00K
YoY Change 68.29%
Cash From Operating Activities -$2.607M
YoY Change 2.24%
INVESTING ACTIVITIES
Capital Expenditures $75.00K
YoY Change 1150.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$75.00K
YoY Change 1150.0%
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
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -2.607M
Cash From Investing Activities -75.00K
Cash From Financing Activities 0.000
Net Change In Cash -2.682M
YoY Change 5.97%
FREE CASH FLOW
Cash From Operating Activities -$2.607M
Capital Expenditures $75.00K
Free Cash Flow -$2.682M
YoY Change 4.93%

Facts In Submission

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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
119000
CY2023Q3 smtk Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
25000
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
850000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-3022000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
10301000
us-gaap Profit Loss
ProfitLoss
-7637000
us-gaap Profit Loss
ProfitLoss
-7097000
us-gaap Depreciation
Depreciation
194000
us-gaap Depreciation
Depreciation
122000
us-gaap Share Based Compensation
ShareBasedCompensation
592000
us-gaap Share Based Compensation
ShareBasedCompensation
531000
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
253000
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
55000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
201000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
197000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-283000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
66000
smtk Transaction Cost Allocable To Warrants
TransactionCostAllocableToWarrants
198000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-672000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-461000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-269000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24000
smtk Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
499000
smtk Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
-697000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-43000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
159000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
149000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
713000
smtk Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-166000
smtk Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-201000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-23000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-20000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-102000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7009000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5620000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
75000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-75000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
12386000
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1763000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1483000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
25000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12691000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
28000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-84000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7053000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6975000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8836000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4235000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1783000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11210000
us-gaap Stock Issued1
StockIssued1
253000
us-gaap Stock Issued1
StockIssued1
55000
smtk Initial Classification Of Fair Value Of Warrants
InitialClassificationOfFairValueOfWarrants
1837000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
82000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
50000
us-gaap Net Income Loss
NetIncomeLoss
-7600000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1800000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7000000.0
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1800000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 17.85pt;"><span style="font-style:italic;font-weight:bold;">Management’s Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 0pt 17.85pt;">The preparation of consolidated financial statements in conformity with 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 consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The most significant estimates in the Company’s consolidated financial statements relate to the valuation of common stock, fair value of stock options and fair value of warrant liabilities. 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 consolidated financial statements, actual results may materially vary from these estimates.</p>
CY2024Q3 us-gaap Prepaid Insurance
PrepaidInsurance
292000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
274000
CY2024Q3 smtk Prepaid Research Grant Receivable
PrepaidResearchGrantReceivable
20000
CY2023Q4 smtk Prepaid Research Grant Receivable
PrepaidResearchGrantReceivable
160000
CY2024Q3 smtk Prepaid Facility Costs
PrepaidFacilityCosts
230000
CY2023Q4 smtk Prepaid Facility Costs
PrepaidFacilityCosts
101000
CY2024Q3 us-gaap Prepaid Taxes
PrepaidTaxes
201000
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
104000
CY2024Q3 smtk Prepaid Software Licenses
PrepaidSoftwareLicenses
44000
CY2023Q4 smtk Prepaid Software Licenses
PrepaidSoftwareLicenses
24000
CY2023Q4 smtk Prepaid Professional Service Fees
PrepaidProfessionalServiceFees
68000
CY2024Q3 smtk Other Receivable And Other Prepaid Expenses
OtherReceivableAndOtherPrepaidExpenses
17000
CY2023Q4 smtk Other Receivable And Other Prepaid Expenses
OtherReceivableAndOtherPrepaidExpenses
80000
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
804000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
811000
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1879000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1716000
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1526000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1261000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
353000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
455000
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
747000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
355000
CY2024Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
404000
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
375000
CY2024Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
116000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
182000
CY2024Q3 smtk Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
33000
CY2023Q4 smtk Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
91000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
163000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
175000
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1463000
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1178000
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
58000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
70000
us-gaap Operating Lease Cost
OperatingLeaseCost
193000
us-gaap Operating Lease Cost
OperatingLeaseCost
209000
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
11000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
7000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
53000
us-gaap Variable Lease Cost
VariableLeaseCost
118000
CY2024Q3 us-gaap Lease Cost
LeaseCost
63000
CY2023Q3 us-gaap Lease Cost
LeaseCost
123000
us-gaap Lease Cost
LeaseCost
204000
us-gaap Lease Cost
LeaseCost
334000
CY2024Q3 us-gaap Lease Cost
LeaseCost
63000
CY2023Q3 us-gaap Lease Cost
LeaseCost
123000
us-gaap Lease Cost
LeaseCost
204000
us-gaap Lease Cost
LeaseCost
334000
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
197000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
285000
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
197000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
285000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
165000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
230000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
31000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
19000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
196000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
249000
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
us-gaap Operating Lease Payments
OperatingLeasePayments
166000
us-gaap Operating Lease Payments
OperatingLeasePayments
201000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
82000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
50000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M15D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0939
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
123000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
55000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
23000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
206000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
196000
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
12700000
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1800000
smtk Warrants Issuance Costs Expensed
WarrantsIssuanceCostsExpensed
200000
CY2023Q2 smtk Warrants Issuance Costs Expensed
WarrantsIssuanceCostsExpensed
200000
CY2023Q2 smtk Term Of Restriction For Usage Of Cash From Operating Activities
TermOfRestrictionForUsageOfCashFromOperatingActivities
P3M
CY2023Q2 smtk Percentage Of Securities Sold In Subsequent Financing
PercentageOfSecuritiesSoldInSubsequentFinancing
0.40
smtk Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2024Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
30000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
568000
CY2024Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.50
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
70411
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
63.07
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M10D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
33.98
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
5865
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
70.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
568000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.50
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
632546
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.21
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y5M8D
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.48
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
241831
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y11M1D
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
29470
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
257000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
119000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
571000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
531000
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2000000.0
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-2842000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-3022000
us-gaap Net Income Loss
NetIncomeLoss
-7637000
us-gaap Net Income Loss
NetIncomeLoss
-7097000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7094000
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2842000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3022000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14731000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-7097000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3308975
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1701166
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3068110
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1219450
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3308975
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1701166
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3068110
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1219450
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.86
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.49
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.82
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.86
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.78
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.80
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.82
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.31
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2503241
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3429744
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
61587
CY2024Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1759618
CY2023Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
868619
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1527473
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
805808
CY2024Q3 smtk Weighted Average Pre Funded And Penny Warrants
WeightedAveragePreFundedAndPennyWarrants
1549357
CY2023Q3 smtk Weighted Average Pre Funded And Penny Warrants
WeightedAveragePreFundedAndPennyWarrants
832547
smtk Weighted Average Pre Funded And Penny Warrants
WeightedAveragePreFundedAndPennyWarrants
1540637
smtk Weighted Average Pre Funded And Penny Warrants
WeightedAveragePreFundedAndPennyWarrants
413641
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3308975
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1701166
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3068110
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1219450
CY2024Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
42000
CY2023Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
41000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
119000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
117000
CY2023Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1372000
CY2023Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
1372000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 smtk Rule10b51 Arr Modified Flag
Rule10b51ArrModifiedFlag
false
CY2024Q3 smtk Non Rule10b51 Arr Modified Flag
NonRule10b51ArrModifiedFlag
false

Files In Submission

Name View Source Status
smtk-20240930_cal.xml Edgar Link unprocessable
0001558370-24-015051-index-headers.html Edgar Link pending
0001558370-24-015051-index.html Edgar Link pending
0001558370-24-015051.txt Edgar Link pending
0001558370-24-015051-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
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report.css Edgar Link pending
Show.js Edgar Link pending
smtk-20240930.xsd Edgar Link pending
smtk-20240930x10q.htm Edgar Link pending
smtk-20240930xex10d1.htm Edgar Link pending
smtk-20240930xex31d1.htm Edgar Link pending
smtk-20240930xex31d2.htm Edgar Link pending
smtk-20240930xex32d1.htm Edgar Link pending
smtk-20240930xex32d2.htm Edgar Link pending
smtk-20240930_def.xml Edgar Link unprocessable
smtk-20240930_lab.xml Edgar Link unprocessable
smtk-20240930_pre.xml Edgar Link unprocessable
smtk-20240930x10q_htm.xml Edgar Link completed