2023 Q2 Form 10-Q Financial Statement
#000121390023039573 Filed on May 15, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $1.575M | ||
YoY Change | |||
Cost Of Revenue | $1.351M | $1.000M | $28.24K |
YoY Change | 1930.88% | 3441.78% | -87.14% |
Gross Profit | $224.2K | $511.2K | -$28.24K |
YoY Change | -436.94% | -1910.13% | -87.14% |
Gross Profit Margin | 14.23% | ||
Selling, General & Admin | $1.983M | $1.417M | $52.22K |
YoY Change | 1815.99% | 2613.44% | -35.11% |
% of Gross Profit | 884.64% | 277.19% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $308.6K | $2.280K | $2.310K |
YoY Change | 13435.96% | -1.3% | -68.53% |
% of Gross Profit | 137.68% | 0.45% | |
Operating Expenses | $1.983M | $2.057M | $80.46K |
YoY Change | 1066.3% | 2456.76% | -73.19% |
Operating Profit | -$1.759M | -$1.546M | -$108.7K |
YoY Change | 643.53% | 1322.21% | -79.08% |
Interest Expense | -$91.53K | $67.70K | |
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | -$91.53K | $52.75K | $35.00 |
YoY Change | -315731.03% | 150605.71% | 59.09% |
Pretax Income | -$1.850M | -$2.004M | -$80.42K |
YoY Change | 988.48% | 2392.28% | -73.2% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.850M | -$2.004M | -$80.42K |
YoY Change | 988.48% | 2392.28% | -73.2% |
Net Earnings / Revenue | -117.46% | ||
Basic Earnings Per Share | $0.00 | -$0.03 | $0.00 |
Diluted Earnings Per Share | $0.00 | -$0.03 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 146.2M shares | 53.89M shares | 37.85M shares |
Diluted Shares Outstanding | 61.71M shares | 37.85M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $423.1K | $448.5K | $346.9K |
YoY Change | 62.04% | 29.31% | 9.49% |
Cash & Equivalents | $423.1K | $448.5K | $346.9K |
Short-Term Investments | |||
Other Short-Term Assets | $1.383M | $8.680K | $2.290K |
YoY Change | 60309.17% | 279.04% | 0.0% |
Inventory | $2.608M | ||
Prepaid Expenses | |||
Receivables | $1.070M | ||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $5.485M | $5.457M | $349.2K |
YoY Change | 1982.66% | 1462.96% | 9.42% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $436.5K | $9.120K | $18.24K |
YoY Change | 2635.53% | -49.99% | -42.99% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $0.00 | ||
YoY Change | -100.0% | ||
Total Long-Term Assets | $4.208M | $9.120K | $18.24K |
YoY Change | 26271.21% | -49.99% | -87.64% |
TOTAL ASSETS | |||
Total Short-Term Assets | $5.485M | $5.457M | $349.2K |
Total Long-Term Assets | $4.208M | $9.120K | $18.24K |
Total Assets | $9.693M | $5.466M | $367.4K |
YoY Change | 3370.13% | 1387.86% | -21.27% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $31.76K | $114.1K | |
YoY Change | -43.17% | 10.26% | |
Accrued Expenses | $2.131M | $5.700K | $19.20K |
YoY Change | 10193.86% | -70.31% | -97.93% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $6.188M | $5.000M | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $8.372M | $5.119M | $278.3K |
YoY Change | 3678.11% | 1739.69% | -77.31% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $500.0K | $0.00 | |
YoY Change | |||
Total Long-Term Liabilities | $500.0K | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.372M | $5.119M | $278.3K |
Total Long-Term Liabilities | $500.0K | $0.00 | $0.00 |
Total Liabilities | $8.872M | $5.119M | $278.3K |
YoY Change | 3903.85% | 1739.69% | -77.31% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$19.10M | -$12.70M | -$8.558M |
YoY Change | 118.85% | 48.34% | 17.34% |
Common Stock | $14.62K | $6.544K | $3.785K |
YoY Change | 283.7% | 72.89% | -99.94% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $26.00K | ||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $821.6K | $347.4K | $89.15K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.693M | $5.466M | $367.4K |
YoY Change | 3370.13% | 1387.86% | -21.27% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.850M | -$2.004M | -$80.42K |
YoY Change | 988.48% | 2392.28% | -73.2% |
Depreciation, Depletion And Amortization | $308.6K | $2.280K | $2.310K |
YoY Change | 13435.96% | -1.3% | -68.53% |
Cash From Operating Activities | -$10.34M | -$336.6K | -$58.91K |
YoY Change | 6451.67% | 471.51% | -25.34% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $736.0K | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $1.228M | -$2.000M | $0.00 |
YoY Change | |||
Cash From Investing Activities | $492.5K | -$2.000M | |
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 | 9.825M | $1.434M | |
YoY Change | 13530.04% | ||
NET CHANGE | |||
Cash From Operating Activities | -10.34M | -$336.6K | -$58.91K |
Cash From Investing Activities | 492.5K | -$2.000M | |
Cash From Financing Activities | 9.825M | $1.434M | |
Net Change In Cash | -25.49K | -$902.8K | -$58.91K |
YoY Change | -70.28% | 1432.67% | -137.73% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.34M | -$336.6K | -$58.91K |
Capital Expenditures | $736.0K | ||
Free Cash Flow | -$11.08M | -$336.6K | -$58.91K |
YoY Change | 471.51% |
Facts In Submission
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2023-03-31 | |
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1500 SE 15th Street, | |
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#512, | |
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Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses. The Company regularly evaluates estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Actual results could differ from those estimates made by management.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> | |
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Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Concentration of Credit Risk</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company maintains its principal cash balance in a financial institution. These balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At March 31, 2023, $198,543 were in excess of the FDIC insured limit.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | |
CY2023Q1 | avmr |
Fdic Insured
FDICInsured
|
250000 | usd |
CY2023Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
198543 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
|
P5Y | |
CY2021 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
1175000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
0 | usd |
CY2021 | avmr |
Warrants Per Value
WarrantsPerValue
|
0.78 | |
CY2021 | avmr |
Stock Compensation Expenses
StockCompensationExpenses
|
912489 | usd |
CY2022 | avmr |
Stock Compensation Expenses
StockCompensationExpenses
|
0 | usd |
CY2023Q1 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
135808884 | shares |
CY2023Q1 | avmr |
Common Stock Ownership Percentage
CommonStockOwnershipPercentage
|
0.95 | pure |
CY2023Q1 | avmr |
Exercise Percentage
exercisePercentage
|
0.51 | pure |
CY2023Q1 | avmr |
Merger Agreement Description
MergerAgreementDescription
|
the Company issued 14,029,170 post-Merger shares of SSII common stock to Dr. Frederic Moll and one other accredited investor, who each provided $3,000,000 in interim financing to the Company pending consummation of the Merger. Pursuant to his investment agreement with the Company, dated April 7, 2023, which included his $3,000,000 investment, and which was described in and included as an Exhibit to the Company’s Report on Form 8-K, dated April 14, 2023, Dr. Moll received 7% of SSI’s post-merger issued and outstanding common stock on a fully diluted basis or an aggregate of 10,149,232 SSI Shares | |
CY2023Q1 | avmr |
Royalty Percentage
RoyaltyPercentage
|
0.03 | pure |
CY2023Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
one for ten Reverse Stock Split | |
CY2023Q1 | us-gaap |
Excess Stock Shares Authorized
ExcessStockSharesAuthorized
|
250000000 | shares |
CY2023Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
SS Innovations International, Inc. | |
CY2023Q1 | dei |
Trading Symbol
TradingSymbol
|
AVMR | |
CY2023Q1 | dei |
Security Exchange Name
SecurityExchangeName
|
NONE | |
CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration
|
8066176 | usd |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023Q1 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
0 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2022Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
670000 | shares |
CY2023Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
189500 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
600000 | shares |
CY2023Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
240000 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
6600 | shares |
CY2023Q1 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2019-07-31 | |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
1829.25 | usd |
CY2019Q3 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
2454.75 | usd |
CY2019Q3 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
2223 | usd |
CY2021Q3 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
1474.17 | usd |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2023Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
usd | |
CY2022Q1 | us-gaap |
Revenues
Revenues
|
usd | |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
usd | |
CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
usd | |
CY2022Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
usd | |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.002 | |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
37849405 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
61705851 | shares |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
usd | |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
usd | |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
usd | |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
usd | |
CY2022Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
usd | |
CY2022Q1 | us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
usd | |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | |
CY2022Q1 | avmr |
Proceeds From Securities Offering
ProceedsFromSecuritiesOffering
|
usd | |
CY2022Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
usd | |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
usd | |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2023Q1 | us-gaap |
Interest Paid
InterestPaid
|
usd | |
CY2023Q1 | avmr |
Related Party Note Payable Converted To Common Stock
RelatedPartyNotePayableConvertedToCommonStock
|
usd | |
CY2022Q1 | avmr |
Related Party Note Payable Converted To Common Stock
RelatedPartyNotePayableConvertedToCommonStock
|
usd | |
CY2023Q1 | us-gaap |
Stock Issued1
StockIssued1
|
usd | |
CY2022Q1 | us-gaap |
Stock Issued1
StockIssued1
|
usd | |
CY2023Q1 | avmr |
Reduction Of Account Payable And Equipment
ReductionOfAccountPayableAndEquipment
|
usd | |
CY2022Q1 | avmr |
Reduction Of Account Payable And Equipment
ReductionOfAccountPayableAndEquipment
|
usd | |
CY2022Q3 | avmr |
Raising Amount
RaisingAmount
|
3225156 | usd |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001676163 |