2022 Q1 Form 10-Q Financial Statement
#000149315222013584 Filed on May 16, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $3.249M | $2.948M |
| YoY Change | 10.2% | 8.02% |
| Cost Of Revenue | $3.175M | $2.915M |
| YoY Change | 8.94% | 9.24% |
| Gross Profit | $73.61K | $33.50K |
| YoY Change | 119.73% | -45.2% |
| Gross Profit Margin | 2.27% | 1.14% |
| Selling, General & Admin | $32.87K | $72.09K |
| YoY Change | -54.4% | -92.81% |
| % of Gross Profit | 44.65% | 215.19% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $360.00 | $760.00 |
| YoY Change | -52.63% | -65.45% |
| % of Gross Profit | 0.49% | 2.27% |
| Operating Expenses | $42.04K | $88.31K |
| YoY Change | -52.39% | -91.44% |
| Operating Profit | $31.57K | -$54.81K |
| YoY Change | -157.6% | -94.35% |
| Interest Expense | $41.07K | -$63.98K |
| YoY Change | -164.19% | -102.02% |
| % of Operating Profit | 130.09% | |
| Other Income/Expense, Net | $71.32K | |
| YoY Change | ||
| Pretax Income | $102.9K | -$1.464M |
| YoY Change | -107.03% | -152.4% |
| Income Tax | $800.00 | |
| % Of Pretax Income | ||
| Net Earnings | $102.9K | -$1.465M |
| YoY Change | -107.02% | -152.45% |
| Net Earnings / Revenue | 3.17% | -49.69% |
| Basic Earnings Per Share | $0.02 | |
| Diluted Earnings Per Share | $24.93K | -$454.5K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 4.126M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $37.42K | $60.33K |
| YoY Change | -37.97% | 17.28% |
| Cash & Equivalents | $37.42K | |
| Short-Term Investments | ||
| Other Short-Term Assets | $7.240K | $6.490K |
| YoY Change | 11.56% | -97.71% |
| Inventory | $1.503M | $1.018M |
| Prepaid Expenses | ||
| Receivables | $220.00 | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $1.548M | $1.085M |
| YoY Change | 42.67% | 24.65% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $23.30K | $38.46K |
| YoY Change | -39.42% | -29.22% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $23.30K | $38.46K |
| YoY Change | -39.42% | -29.22% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.548M | $1.085M |
| Total Long-Term Assets | $23.30K | $38.46K |
| Total Assets | $1.571M | $1.123M |
| YoY Change | 39.86% | 21.48% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $304.8K | |
| YoY Change | 11.81% | |
| Accrued Expenses | $549.7K | $13.13K |
| YoY Change | 4086.37% | 17.34% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $210.4K | $30.00K |
| YoY Change | 601.33% | 332.28% |
| Long-Term Debt Due | $2.640K | $2.380K |
| YoY Change | 10.92% | |
| Total Short-Term Liabilities | $799.0K | $350.3K |
| YoY Change | 128.11% | -58.34% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $147.4K | $162.7K |
| YoY Change | -9.44% | |
| Other Long-Term Liabilities | $7.050K | $22.37K |
| YoY Change | -68.48% | -37.64% |
| Total Long-Term Liabilities | $154.4K | $185.1K |
| YoY Change | -16.58% | 416.06% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $799.0K | $350.3K |
| Total Long-Term Liabilities | $154.4K | $185.1K |
| Total Liabilities | $953.4K | $535.4K |
| YoY Change | 78.08% | -38.92% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $617.8K | $588.0K |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.571M | $1.123M |
| YoY Change | 39.86% | 21.48% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $102.9K | -$1.465M |
| YoY Change | -107.02% | -152.45% |
| Depreciation, Depletion And Amortization | $360.00 | $760.00 |
| YoY Change | -52.63% | -65.45% |
| Cash From Operating Activities | -$50.05K | -$120.9K |
| YoY Change | -58.59% | -21.42% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | ||
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $0.00 |
| 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 | 57.30K | 134.1K |
| YoY Change | -57.28% | 159.94% |
| NET CHANGE | ||
| Cash From Operating Activities | -50.05K | -120.9K |
| Cash From Investing Activities | ||
| Cash From Financing Activities | 57.30K | 134.1K |
| Net Change In Cash | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$50.05K | -$120.9K |
| Capital Expenditures | ||
| Free Cash Flow | ||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | SSOK |
Loss From Settlement Of Debt With Related Party
LossFromSettlementOfDebtWithRelatedParty
|
USD | |
| CY2022Q1 | SSOK |
Paycheck Protection Program Loan Non Current
PaycheckProtectionProgramLoanNonCurrent
|
USD | |
| CY2022Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
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| CY2022Q1 | us-gaap |
Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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|
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| CY2022Q1 | us-gaap |
Preferred Stock Value
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| CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
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| CY2021Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
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| CY2021Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
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| CY2022Q1 | SSOK |
Loss From Settlement Of Debt With Related Party
LossFromSettlementOfDebtWithRelatedParty
|
USD | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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| CY2022Q1 | SSOK |
Proceeds From Ppp Loans
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|
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| CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
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| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
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| CY2022Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
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| CY2021Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
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| CY2021Q1 | SSOK |
Extinguishment Of Debt
ExtinguishmentOfDebt
|
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| CY2022Q1 | us-gaap |
Stock Issued1
StockIssued1
|
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| CY2022Q1 | SSOK |
Common Stock Issued For Conversion Of Preferred Stock
CommonStockIssuedForConversionOfPreferredStock
|
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| CY2021Q4 | SSOK |
Accrued Legal Fees Current
AccruedLegalFeesCurrent
|
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| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
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|
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| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
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