2024 Q2 Form 10-Q Financial Statement

#000147793224002962 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $54.19K $47.99K $35.55K
YoY Change 44.12% 0.25% 57.37%
Cost Of Revenue $41.16K $24.78K $28.11K
YoY Change 148.29% -17.57% 111.83%
Gross Profit $13.04K $23.21K $7.440K
YoY Change -38.0% 30.36% -20.17%
Gross Profit Margin 24.05% 48.36% 20.93%
Selling, General & Admin $1.485M $1.534M $1.870M
YoY Change -38.89% -29.89% -33.33%
% of Gross Profit 11396.09% 6607.74% 25140.73%
Research & Development $308.4K $102.0K $427.8K
YoY Change 59.66% -43.6% 5.75%
% of Gross Profit 2366.14% 439.63% 5750.54%
Depreciation & Amortization $96.36K $96.37K $95.46K
YoY Change 0.0% 0.0% -0.93%
% of Gross Profit 739.24% 415.23% 1283.06%
Operating Expenses $1.890M $1.732M $2.395M
YoY Change -30.51% -29.73% -25.4%
Operating Profit -$1.877M -$1.709M -$2.387M
YoY Change -30.45% -30.17% -25.42%
Interest Expense $213.3K $232.5K -$190.9K
YoY Change 4.99% 3.26% -38.41%
% of Operating Profit
Other Income/Expense, Net -$200.1K -$797.1K $36.48K
YoY Change 14.59% 415.23% 187.47%
Pretax Income -$2.077M -$2.506M -$2.542M
YoY Change -27.72% -3.68% -27.34%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.077M -$2.506M -$2.542M
YoY Change -27.72% -3.68% -27.34%
Net Earnings / Revenue -3833.43% -5221.76% -7149.62%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.10 -$0.21 -$0.14
COMMON SHARES
Basic Shares Outstanding 20.01M shares 20.01M shares 18.54M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.166M $1.336M $2.790M
YoY Change -61.83% -83.88% -67.48%
Cash & Equivalents $2.166M $1.336M $2.790M
Short-Term Investments
Other Short-Term Assets $6.002K $15.30K $197.5K
YoY Change -98.49% -96.14% 6.67%
Inventory $281.9K $320.6K $358.5K
Prepaid Expenses $94.56K $160.8K $213.3K
Receivables $34.79K $25.13K $25.28K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.584M $1.858M $3.371M
YoY Change -59.42% -79.31% -62.65%
LONG-TERM ASSETS
Property, Plant & Equipment $230.4K $252.9K $274.7K
YoY Change -27.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.43K $27.43K $27.43K
YoY Change -36.74% 0.0% 0.01%
Total Long-Term Assets $2.539M $2.657M $2.776M
YoY Change -16.12% -4.75% -3.84%
TOTAL ASSETS
Total Short-Term Assets $2.584M $1.858M $3.371M
Total Long-Term Assets $2.539M $2.657M $2.776M
Total Assets $5.122M $4.515M $6.147M
YoY Change -45.47% -61.64% -48.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $519.8K $632.7K $525.7K
YoY Change 26.49% 85.49% 267.69%
Accrued Expenses $518.7K $522.5K $921.0K
YoY Change 31.84% 71.69% 5016.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.68K $1.912M $76.14K
YoY Change -91.0% 110.25% -95.8%
Total Short-Term Liabilities $1.282M $3.400M $1.523M
YoY Change 1.93% 85.03% -46.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $2.306M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $149.5K $176.7K $335.8K
YoY Change -50.78% 1466.76%
Total Long-Term Liabilities $0.00 $0.00 $2.642M
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.282M $3.400M $1.523M
Total Long-Term Liabilities $0.00 $0.00 $2.642M
Total Liabilities $1.432M $3.576M $4.111M
YoY Change -60.13% -9.34% 45.69%
SHAREHOLDERS EQUITY
Retained Earnings -$94.22M -$91.79M -$87.77M
YoY Change 13.48% 11720.39% 12.05%
Common Stock $347.00 $200.00 $186.00
YoY Change 87.57% 16.28% 9.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $38.02K $38.02K $38.02K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $3.744M $992.6K $2.036M
YoY Change
Total Liabilities & Shareholders Equity $5.122M $4.515M $6.147M
YoY Change -45.47% -61.64% -48.4%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.077M -$2.506M -$2.542M
YoY Change -27.72% -3.68% -27.34%
Depreciation, Depletion And Amortization $96.36K $96.37K $95.46K
YoY Change 0.0% 0.0% -0.93%
Cash From Operating Activities -$1.595M -$1.454M -$1.218M
YoY Change -4.66% -8.53% -35.62%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 2.425M $0.00 -110.8K
YoY Change -357.79% -100.0% -103.44%
NET CHANGE
Cash From Operating Activities -1.595M -$1.454M -1.218M
Cash From Investing Activities
Cash From Financing Activities 2.425M $0.00 -110.8K
Net Change In Cash 830.2K -$1.454M -1.329M
YoY Change -131.76% 403.09% -199.89%
FREE CASH FLOW
Cash From Operating Activities -$1.595M -$1.454M -$1.218M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2024Q1 sobr Deemed Dividend Related To Convertible Debt Warrants Provisions
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23270 usd
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DeemedDividendRelatedToPIPEWarrantsDownRoundProvision
42539
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CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1 pure
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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909214 usd
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132646 usd
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1450000 usd
CY2024Q1 us-gaap Convertible Notes Payable
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Cash
1300000 usd
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CY2023Q4 us-gaap Prepaid Expense And Other Assets
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CY2024Q1 us-gaap Operating Lease Payments
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50265 usd
CY2024Q1 us-gaap Variable Lease Payment
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21340 usd
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100525 usd
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OperatingLeaseLiabilityNoncurrent
176734 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
277259 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
125644 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
95063 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
312318 usd
CY2024Q1 sobr Imputed Interest
ImputedInterest
35059 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
277259 usd
CY2024Q1 sobr Weighted Average Lessee Operating Lease Remaining Lease Term
WeightedAverageLesseeOperatingLeaseRemainingLeaseTerm
P30Y
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.10 pure
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
289098 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
385464 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
385464 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
385464 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
385464 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
546109 usd
CY2024Q1 sobr Consulting Services Current And Non Current
ConsultingServicesCurrentAndNonCurrent
170202 usd
CY2023Q4 sobr Consulting Services Current And Non Current
ConsultingServicesCurrentAndNonCurrent
328196 usd
CY2024Q1 us-gaap Program Rights Obligations
ProgramRightsObligations
220000 usd
CY2023Q4 us-gaap Program Rights Obligations
ProgramRightsObligations
220000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
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132253 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
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178744 usd
CY2024Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
522455 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
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726940 usd
CY2023Q2 us-gaap Cash Uninsured Amount
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293882 usd
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
16300000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1692473 shares
CY2024Q1 sobr Weighted Average Remaining Contractual Life Beginning Balance
WeightedAverageRemainingContractualLifeBeginningBalance
P5Y7M28D
CY2024Q1 sobr Weighted Average Exercise Price Per Share Beginning Balance
WeightedAverageExercisePricePerShareBeginningBalance
2.01
CY2024Q1 sobr Aggregate Intrinsic Beginning Balance Value
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0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2024Q1 sobr Weighted Average Exercise Price Per Share Options Granted
WeightedAverageExercisePricePerShareOptionsGranted
0
CY2024Q1 sobr Aggregate Intrinsic Value Options Granted
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0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2024Q1 sobr Weighted Average Exercise Price Per Share Options Exercised
WeightedAverageExercisePricePerShareOptionsExercised
0
CY2024Q1 sobr Aggregate Intrinsic Value Options Exercised
AggregateIntrinsicValueOptionsExercised
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
94167 shares
CY2024Q1 sobr Weighted Average Exercise Price Per Share Options Forfieted
WeightedAverageExercisePricePerShareOptionsForfieted
2.32
CY2024Q1 sobr Aggregate Intrinsic Value Options Expired Forfeited
AggregateIntrinsicValueOptionsExpiredForfeited
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1598306 shares
CY2024Q1 sobr Weighted Average Remaining Contractual Life Ending Balance
WeightedAverageRemainingContractualLifeEndingBalance
P5Y6M18D
CY2024Q1 sobr Weighted Average Exercise Price Per Share Ending Balance
WeightedAverageExercisePricePerShareEndingBalance
1.99
CY2024Q1 sobr Aggregate Intrinsic Value Ending Balance
AggregateIntrinsicValueEndingBalance
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1014828 shares
CY2024Q1 sobr Weighted Average Remaining Contractual Life Exercisable Beginning Balance
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P4Y4M9D
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
2.14
CY2023Q4 sobr Aggregate Intrinsic Value Exercisable
AggregateIntrinsicValueExercisable
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1023670 shares
CY2024Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y10M20D
CY2024Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
2.11
CY2024Q1 sobr Aggregate Intrinsic Value Exercisable
AggregateIntrinsicValueExercisable
0 usd
CY2006Q4 sobr Lawsuit Amount
LawsuitAmount
11164 usd
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
11164 usd
CY2023Q4 sobr Accrued Liabilities Interest
AccruedLiabilitiesInterest
20000 usd

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