2023 Q1 Form 10-K Financial Statement

#000114036123015429 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $7.567M $10.60M $36.16M
YoY Change 7.47% 17.06% 20.63%
Cost Of Revenue $3.179M $3.754M $14.39M
YoY Change 9.13% 22.8% 42.13%
Gross Profit $4.388M $6.848M $21.77M
YoY Change 6.3% 14.13% 9.66%
Gross Profit Margin 57.99% 64.59% 60.2%
Selling, General & Admin $6.659M $6.273M $25.39M
YoY Change 6.24% -1.15% 11.26%
% of Gross Profit 151.75% 91.6% 116.63%
Research & Development $315.0K $441.0K $1.029M
YoY Change 93.25% 59.78% -28.24%
% of Gross Profit 7.18% 6.44% 4.73%
Depreciation & Amortization $677.0K $3.477M $2.400M
YoY Change 8.32% 232.09% 14.29%
% of Gross Profit 15.43% 50.77% 11.03%
Operating Expenses $6.974M $6.714M $26.42M
YoY Change 8.44% 1.39% 8.93%
Operating Profit -$2.586M $134.0K -$4.649M
YoY Change 12.29% -121.54% 5.61%
Interest Expense $286.0K -$231.0K $926.0K
YoY Change 43.72% 12.14% 194.9%
% of Operating Profit -172.39%
Other Income/Expense, Net -$249.0K -$837.0K
YoY Change 25.13% -148.38%
Pretax Income -$2.835M -$97.00K -$5.486M
YoY Change 13.31% -88.27% 105.31%
Income Tax $0.00 $63.00K $63.00K
% Of Pretax Income
Net Earnings -$2.835M -$160.0K -$5.549M
YoY Change 13.31% -81.15% 105.06%
Net Earnings / Revenue -37.47% -1.51% -15.35%
Basic Earnings Per Share -$0.08 -$0.16
Diluted Earnings Per Share -$0.08 $0.00 -$0.16
COMMON SHARES
Basic Shares Outstanding 34.88M 34.72M 34.71M
Diluted Shares Outstanding 34.86M 34.71M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.825M $5.434M $5.434M
YoY Change -74.14% -56.83% -56.83%
Cash & Equivalents $2.825M $5.434M $5.434M
Short-Term Investments
Other Short-Term Assets $2.052M $2.052M $2.052M
YoY Change 422.14% 344.16% 344.16%
Inventory $5.695M $5.547M $5.547M
Prepaid Expenses
Receivables $3.940M $4.471M $4.471M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.51M $17.50M $17.50M
YoY Change -23.81% -12.35% -12.35%
LONG-TERM ASSETS
Property, Plant & Equipment $8.182M $7.498M $8.473M
YoY Change 18.22% 8.94% 12.66%
Goodwill $8.803M $8.803M
YoY Change 0.0%
Intangibles $16.67M $17.39M
YoY Change 72.51%
Long-Term Investments
YoY Change
Other Assets $82.00K $98.00K $98.00K
YoY Change -59.0% -54.63% -54.63%
Total Long-Term Assets $34.61M $34.77M $34.77M
YoY Change -3.97% 30.59% 30.59%
TOTAL ASSETS
Total Short-Term Assets $14.51M $17.50M $17.50M
Total Long-Term Assets $34.61M $34.77M $34.77M
Total Assets $49.12M $52.27M $52.27M
YoY Change -10.83% 12.19% 12.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.099M $3.425M $3.425M
YoY Change -21.94% 21.37% 21.37%
Accrued Expenses $6.549M $6.555M $6.910M
YoY Change 0.15% 2.79% 3.21%
Deferred Revenue $2.548M $2.778M
YoY Change -18.36% -15.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.06M $13.43M $13.43M
YoY Change -9.44% 4.87% 4.87%
LONG-TERM LIABILITIES
Long-Term Debt $7.517M $7.476M $7.476M
YoY Change 2.19% 2.15% 2.15%
Other Long-Term Liabilities $8.921M $9.233M $9.233M
YoY Change -3.72% 1065.78% 1065.78%
Total Long-Term Liabilities $7.517M $7.476M $16.71M
YoY Change -54.78% 2.15% 106.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.06M $13.43M $13.43M
Total Long-Term Liabilities $7.517M $7.476M $16.71M
Total Liabilities $29.80M $30.44M $30.44M
YoY Change -4.81% 43.73% 43.73%
SHAREHOLDERS EQUITY
Retained Earnings -$230.1M -$227.2M
YoY Change 2.5%
Common Stock $35.00K $35.00K
YoY Change 2.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.32M $21.83M $21.83M
YoY Change
Total Liabilities & Shareholders Equity $49.12M $52.27M $52.27M
YoY Change -10.83% 12.19% 12.19%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$2.835M -$160.0K -$5.549M
YoY Change 13.31% -81.15% 105.06%
Depreciation, Depletion And Amortization $677.0K $3.477M $2.400M
YoY Change 8.32% 232.09% 14.29%
Cash From Operating Activities -$1.203M -$5.000K -$1.108M
YoY Change 240.79% -100.75% -173.47%
INVESTING ACTIVITIES
Capital Expenditures $1.406M $1.515M $3.552M
YoY Change -307.07% -234.07% -2.76%
Acquisitions $0.00 $631.0K
YoY Change -100.0% -81.83%
Other Investing Activities $0.00 $0.00 -$631.0K
YoY Change -100.0% -81.83%
Cash From Investing Activities -$1.406M -$1.515M -$4.183M
YoY Change 7.33% 34.07% -41.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities 0.000 -500.0K -500.0K
YoY Change -643.48%
NET CHANGE
Cash From Operating Activities -1.203M -5.000K -1.108M
Cash From Investing Activities -1.406M -1.515M -4.183M
Cash From Financing Activities 0.000 -500.0K -500.0K
Net Change In Cash -2.609M -2.020M -5.791M
YoY Change 56.89% 338.18% 4.8%
FREE CASH FLOW
Cash From Operating Activities -$1.203M -$5.000K -$1.108M
Capital Expenditures $1.406M $1.515M $3.552M
Free Cash Flow -$2.609M -$1.520M -$4.660M
YoY Change -900.31% -184.49% 117.25%

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Files In Submission

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