2023 Q3 Form 10-Q Financial Statement

#000162828023028937 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $360.0K $305.0K
YoY Change 44.0% 10.11%
Cost Of Revenue $184.0K $163.0K
YoY Change 43.75% 15.6%
Gross Profit $176.0K $142.0K
YoY Change 44.26% 4.41%
Gross Profit Margin 48.89% 46.56%
Selling, General & Admin $1.748M $1.761M
YoY Change -23.63% -22.66%
% of Gross Profit 993.18% 1240.14%
Research & Development $379.0K $381.0K
YoY Change -16.15% -11.6%
% of Gross Profit 215.34% 268.31%
Depreciation & Amortization $34.00K $33.00K
YoY Change -2.86% -29.79%
% of Gross Profit 19.32% 23.24%
Operating Expenses $2.127M $2.142M
YoY Change -22.4% -20.9%
Operating Profit -$1.951M -$2.000M
YoY Change -25.51% -22.24%
Interest Expense $4.000K $7.000K
YoY Change 300.0% 600.0%
% of Operating Profit
Other Income/Expense, Net $4.000K $7.000K
YoY Change -114.81% 133.33%
Pretax Income -$1.947M -$1.993M
YoY Change -26.42% -22.42%
Income Tax
% Of Pretax Income
Net Earnings -$1.947M -$1.993M
YoY Change -26.42% -22.42%
Net Earnings / Revenue -540.83% -653.44%
Basic Earnings Per Share -$0.47 -$0.70
Diluted Earnings Per Share -$0.47 -$0.70
COMMON SHARES
Basic Shares Outstanding 2.964M shares 2.861M shares
Diluted Shares Outstanding 4.177M shares 2.861M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.145M $2.196M
YoY Change -23.17% -56.08%
Cash & Equivalents $2.100M $2.200M
Short-Term Investments
Other Short-Term Assets $385.0K $330.0K
YoY Change -9.62% -8.33%
Inventory $703.0K $765.0K
Prepaid Expenses $385.0K $330.0K
Receivables $83.00K $44.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.316M $3.335M
YoY Change -22.14% -48.05%
LONG-TERM ASSETS
Property, Plant & Equipment $313.0K $245.0K
YoY Change -2.8% -33.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.00K $22.00K
YoY Change
Total Long-Term Assets $552.0K $528.0K
YoY Change -22.36% -33.83%
TOTAL ASSETS
Total Short-Term Assets $3.316M $3.335M
Total Long-Term Assets $552.0K $528.0K
Total Assets $3.868M $3.863M
YoY Change -22.17% -46.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $147.0K $120.0K
YoY Change -69.12% -58.04%
Accrued Expenses $671.0K $621.0K
YoY Change -32.02% -29.75%
Deferred Revenue $15.00K $24.00K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.000K
YoY Change
Total Short-Term Liabilities $1.034M $953.0K
YoY Change -31.57% -21.3%
LONG-TERM LIABILITIES
Long-Term Debt $44.00K $0.00
YoY Change
Other Long-Term Liabilities $34.00K $83.00K
YoY Change -91.54% -81.26%
Total Long-Term Liabilities $78.00K $83.00K
YoY Change -80.6% -81.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.034M $953.0K
Total Long-Term Liabilities $78.00K $83.00K
Total Liabilities $1.112M $1.036M
YoY Change -41.87% -37.36%
SHAREHOLDERS EQUITY
Retained Earnings -$128.2M -$126.2M
YoY Change 6.78% 7.49%
Common Stock $3.000K $3.000K
YoY Change -75.0% -75.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.756M $2.827M
YoY Change
Total Liabilities & Shareholders Equity $3.868M $3.863M
YoY Change -22.17% -46.48%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.947M -$1.993M
YoY Change -26.42% -22.42%
Depreciation, Depletion And Amortization $34.00K $33.00K
YoY Change -2.86% -29.79%
Cash From Operating Activities -$1.787M -$1.742M
YoY Change -19.47% -17.79%
INVESTING ACTIVITIES
Capital Expenditures $94.00K $20.00K
YoY Change 754.55% -125.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$94.00K -$20.00K
YoY Change -954.55% -75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.831M 1.210M
YoY Change -7662.5%
NET CHANGE
Cash From Operating Activities -1.787M -1.742M
Cash From Investing Activities -94.00K -20.00K
Cash From Financing Activities 1.831M 1.210M
Net Change In Cash -50.00K -552.0K
YoY Change -97.74% -75.08%
FREE CASH FLOW
Cash From Operating Activities -$1.787M -$1.742M
Capital Expenditures $94.00K $20.00K
Free Cash Flow -$1.881M -$1.762M
YoY Change -15.65% -13.59%

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<div style="margin-top:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classification of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The significant estimates in our financial statements include the valuation of inventory, common stock warrants, and stock-based awards, such as stock options and restricted stock units. Actual results could differ from such estimates.</span></div>
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0001628280-23-028937.txt Edgar Link pending
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