2023 Q4 Form 10-Q Financial Statement

#000149315223041181 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $32.32M $34.16M $36.17M
YoY Change -10.79% -5.56% 148.8%
Cost Of Revenue $24.88M $23.68M $34.25M
YoY Change -15.68% -30.86% 171.08%
Gross Profit $7.442M $10.48M $1.921M
YoY Change 10.67% 445.64% 0.91%
Gross Profit Margin 23.03% 30.68% 5.31%
Selling, General & Admin $6.309M $3.389M $2.933M
YoY Change 116.59% 15.54% 39.79%
% of Gross Profit 84.78% 32.34% 152.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $266.0K $211.1K $140.3K
YoY Change -1.05% 50.48% -22.53%
% of Gross Profit 3.57% 2.01% 7.31%
Operating Expenses $6.575M $3.389M $2.933M
YoY Change 106.77% 15.54% 28.68%
Operating Profit $866.3K $7.092M -$1.012M
YoY Change -75.56% -800.47% 169.33%
Interest Expense -$102.5K -$78.45K -$686.0K
YoY Change -80.3% -88.56% -51.64%
% of Operating Profit -11.83% -1.11%
Other Income/Expense, Net -$78.44K -$744.0K
YoY Change -89.46%
Pretax Income $763.8K $7.013M -$1.756M
YoY Change -77.13% -499.3% 5.94%
Income Tax -$2.265M
% Of Pretax Income -296.56%
Net Earnings $3.021M $7.084M -$1.540M
YoY Change -0.77% -559.96% -7.1%
Net Earnings / Revenue 9.35% 20.74% -4.26%
Basic Earnings Per Share $0.50 -$0.12
Diluted Earnings Per Share $0.20 $0.49 -$123.8K
COMMON SHARES
Basic Shares Outstanding 14.23M shares 14.22M shares 12.41M shares
Diluted Shares Outstanding 14.51M shares 12.44M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.62M $12.73M $7.892M
YoY Change 107.83% 61.32% 1141.81%
Cash & Equivalents $14.62M $12.73M $7.892M
Short-Term Investments
Other Short-Term Assets $161.9K $197.9K $131.9K
YoY Change 45.2% 50.08% 276.71%
Inventory $9.047M $14.55M $9.492M
Prepaid Expenses $161.9K $197.9K $131.9K
Receivables $9.536M $9.774M $9.467M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $33.37M $37.25M $26.98M
YoY Change 21.05% 38.06% 850.04%
LONG-TERM ASSETS
Property, Plant & Equipment $1.289M $432.2K $747.1K
YoY Change 100.37% -42.14% 1.07%
Goodwill $1.667M $1.667M $1.667M
YoY Change 0.0% 0.0%
Intangibles $2.126M $2.290M $2.943M
YoY Change -23.51% -22.2%
Long-Term Investments $464.4K $449.8K $401.2K
YoY Change 31.11% 12.13% -2.4%
Other Assets $2.835M
YoY Change
Total Long-Term Assets $8.559M $5.986M $6.377M
YoY Change 32.9% -6.13% 10.13%
TOTAL ASSETS
Total Short-Term Assets $33.37M $37.25M $26.98M
Total Long-Term Assets $8.559M $5.986M $6.377M
Total Assets $41.93M $43.24M $33.36M
YoY Change 23.3% 29.61% 286.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.487M $7.836M $17.23M
YoY Change -0.34% -54.52% 166.98%
Accrued Expenses $43.14K $42.21K $38.61K
YoY Change 9.24% 9.32% -43.47%
Deferred Revenue
YoY Change
Short-Term Debt $4.585M $568.7K $7.766M
YoY Change 72.99% -92.68% 166.07%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.71M $14.48M $26.93M
YoY Change -45.85% -46.21% 139.52%
LONG-TERM LIABILITIES
Long-Term Debt $460.5K $4.543M $5.557M
YoY Change -90.83% -18.23% -25.78%
Other Long-Term Liabilities $356.3K $367.5K $409.7K
YoY Change -10.8% -10.3% -8.35%
Total Long-Term Liabilities $816.8K $4.911M $5.966M
YoY Change -84.93% -17.69% -24.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.71M $14.48M $26.93M
Total Long-Term Liabilities $816.8K $4.911M $5.966M
Total Liabilities $13.68M $19.40M $32.90M
YoY Change -52.65% -41.04% 71.54%
SHAREHOLDERS EQUITY
Retained Earnings -$15.19M -$18.21M -$38.85M
YoY Change -57.59% -53.13%
Common Stock $14.40K $14.34K $12.50K
YoY Change 2.03% 14.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.25M $23.70M $631.8K
YoY Change
Total Liabilities & Shareholders Equity $41.93M $43.24M $33.36M
YoY Change 23.3% 29.61% 286.53%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $3.021M $7.084M -$1.540M
YoY Change -0.77% -559.96% -7.1%
Depreciation, Depletion And Amortization $266.0K $211.1K $140.3K
YoY Change -1.05% 50.48% -22.53%
Cash From Operating Activities $1.958M $8.110M -$803.0K
YoY Change -58.74% -1109.96% -64.92%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.790K
YoY Change -100.0% -133.03%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.300K $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 -$1.300K $1.790K
YoY Change -100.0% -172.63% -133.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -67.04K -562.6K -11.29K
YoY Change -98.71% 4883.17% -100.48%
NET CHANGE
Cash From Operating Activities 1.958M 8.110M -803.0K
Cash From Investing Activities 0.000 -1.300K 1.790K
Cash From Financing Activities -67.04K -562.6K -11.29K
Net Change In Cash 1.891M 7.546M -812.5K
YoY Change -320.76% -1028.75% -1438.5%
FREE CASH FLOW
Cash From Operating Activities $1.958M $8.110M -$803.0K
Capital Expenditures $0.00 $1.790K
Free Cash Flow $8.110M -$804.8K
YoY Change -1107.72% -64.76%

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<p id="xdx_84B_eus-gaap--UseOfEstimates_zNldsnS72w13" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zF8qSEJE30Sd">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates, and those estimates may be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates during the nine months ended September 30, 2023 and 2022, respectively, include, allowance for doubtful accounts and other receivables, inventory reserves and classifications, valuation of loss contingencies, valuation of derivative liabilities, valuation of stock-based compensation, estimated useful lives related to intangible assets, capitalized internal-use software development costs, and property and equipment, implicit interest rate in right-of-use operating leases, uncertain tax positions, and the valuation allowance on deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84D_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zMTV4H45R7B" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zrPv300dnx54">Reclassifications</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no material effect on the consolidated results of operations, stockholders’ equity, or cash flows.</span></p>
CY2023Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1006286 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1006286 usd
CY2023Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
82752 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
82752 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1089038 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1089038 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
656814 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
445665 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
432224 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
643373 usd
CY2022Q2 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
711400 usd
CY2022Q2 us-gaap Payments For Software
PaymentsForSoftware
300000 usd
CY2022Q2 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
85000 shares
CY2022Q2 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
411400 usd
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
4.84
CY2023Q3 us-gaap Depreciation
Depreciation
211149 usd
CY2022Q3 us-gaap Depreciation
Depreciation
140318 usd
us-gaap Depreciation
Depreciation
701279 usd
us-gaap Depreciation
Depreciation
664534 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-3463673 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-2973543 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2289847 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2779977 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
163377 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
163377 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
490130 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
490130 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
163376 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
653507 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
653507 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
653507 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
165950 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2289847 usd
CY2023Q3 SURG Amortization Of Internal Use Software Development Cost
AmortizationOfInternalUseSoftwareDevelopmentCost
32265 usd
CY2022Q3 SURG Amortization Of Internal Use Software Development Cost
AmortizationOfInternalUseSoftwareDevelopmentCost
0 usd
SURG Amortization Of Internal Use Software Development Cost
AmortizationOfInternalUseSoftwareDevelopmentCost
96795 usd
SURG Amortization Of Internal Use Software Development Cost
AmortizationOfInternalUseSoftwareDevelopmentCost
0 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1131185 usd
CY2022 SURG Forgiveness Of Loan
ForgivenessOfLoan
-518167 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
11754 usd
CY2022 SURG Long Debt Reclassified To Receivable
LongDebtReclassifiedToReceivable
-126418 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
474846 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10976 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
463870 usd
CY2022 us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
524143 usd
CY2021 us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
377743 usd
CY2021 us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
Monthly payments are $3,566/month
CY2022 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
270745 shares
CY2023Q3 SURG Lessee Operating Lease Liability Payments Due After Two
LesseeOperatingLeaseLiabilityPaymentsDueAfterTwo
217506 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
489787 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
80114 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
409673 usd
CY2023Q3 SURG Short Term Lease Liability
ShortTermLeaseLiability
42208 usd
CY2023Q3 SURG Long Term Lease Liability
LongTermLeaseLiability
367465 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
568704 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4068868 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
10680 usd
CY2023Q3 SURG Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
463870 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
5112122 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
32426 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
34294 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15789 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11598 usd
us-gaap Lease Cost
LeaseCost
48215 usd
us-gaap Lease Cost
LeaseCost
45892 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Voting at 1 vote per share
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
182615 shares
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
398926 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
431352 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
42208 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
39490 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
367465 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
399413 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
409673 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
438903 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
29230 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
30948 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y11M26D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15274 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
61876 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
63460 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
65044 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
66627 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
874284 usd
CY2022 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
200000 shares
CY2022Q4 SURG Net Effect On Stockholders Deficit
NetEffectOnStockholdersDeficit
0 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
711400 usd
CY2022 us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
300000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17004 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.00
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y1M28D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3401 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
16.00
CY2021 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term3
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3
P5Y1M28D
CY2021Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Options Un Vested And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnVestedAndExercisableNumber
13603 shares
CY2021Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Options Unvested And Nonexercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnvestedAndNonexercisable
16.00
CY2021 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term4
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm4
P5Y1M28D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17004 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.00
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M28D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6801 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
16.00
CY2022 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term3
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3
P4Y1M28D
CY2022Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Options Un Vested And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnVestedAndExercisableNumber
10203 shares
CY2022Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Options Unvested And Nonexercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnvestedAndNonexercisable
16.00
CY2022 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term4
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm4
P4Y1M28D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17004 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y8M1D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
11902 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
16.00
SURG Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term3
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3
P3Y8M1D
CY2023Q3 SURG Share Based Compensation Arrangement By Share Based Payment Award Options Un Vested And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnVestedAndExercisableNumber
5101 shares
CY2023Q3 SURG Share Based Compensation Arrangement By Share Based Payment Award Options Unvested And Nonexercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnvestedAndNonexercisable
16.00
SURG Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term4
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm4
P3Y8M1D
CY2023Q3 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
9294 usd
CY2022Q3 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
9294 usd
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
27880 usd
us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
27880 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
15489 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y5M1D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
6082984 shares
CY2021Q4 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValue
8.68
CY2021 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms
P2Y11M4D
CY2021Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisable
5852984 shares
CY2021Q4 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueExercisable
8.70
CY2021 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding Weighted Average Remaining Contractual Terms Exercisable1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermsExercisable1
P2Y10M6D
CY2021Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Unvested
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsUnvested
230000 shares
CY2021Q4 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Unvested
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueUnvested
8.00
CY2021 SURG Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms Unvested
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsUnvested
P4Y10M6D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
189000 shares
CY2022 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueGranted
4.73
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
498850 shares
CY2022 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Exercise
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueExercise
6.49
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
91743 shares
CY2022 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Forfeitured
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueForfeitured
40.02
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
5681392 shares
CY2022Q4 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValue
5.05
CY2022 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms
P1Y10M6D
CY2022Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsAggregateIntrinsicValue
10026387 usd
CY2022Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisable
5681392 shares
CY2022Q4 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueExercisable
5.05
CY2022 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding Weighted Average Remaining Contractual Terms Exercisable1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermsExercisable1
P1Y10M6D
CY2022Q4 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Aggregate Intrinsic Value Vested And Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsAggregateIntrinsicValueVestedAndExercisable
10026387 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
43814 shares
SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Exercise
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueExercise
4.73
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
20686 shares
SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Forfeitured
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueForfeitured
23.65
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
5616892 shares
CY2023Q3 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValue
4.99
SURG Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms
P1Y1M9D
CY2023Q3 SURG Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisable
5616892 shares
CY2023Q3 SURG Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValueExercisable
4.99
SURG Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding Weighted Average Remaining Contractual Terms Exercisable1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermsExercisable1
P1Y1M9D
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
51000 shares
CY2022 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
115404 usd
CY2023Q3 us-gaap Revenues
Revenues
34160834 usd
CY2022Q3 us-gaap Revenues
Revenues
36171345 usd
us-gaap Revenues
Revenues
104823710 usd
us-gaap Revenues
Revenues
85317860 usd
CY2023Q3 us-gaap Cost Of Revenue
CostOfRevenue
23680247 usd
CY2022Q3 us-gaap Cost Of Revenue
CostOfRevenue
34250541 usd
us-gaap Cost Of Revenue
CostOfRevenue
76622912 usd
us-gaap Cost Of Revenue
CostOfRevenue
78572421 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
3389015 usd
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
2933204 usd
us-gaap Operating Expenses
OperatingExpenses
10201663 usd
us-gaap Operating Expenses
OperatingExpenses
9655529 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7091572 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1012400 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
17999135 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-2910090 usd
CY2023Q3 us-gaap Assets Net
AssetsNet
0 usd
CY2023Q3 us-gaap Assets
Assets
43239325 usd
CY2022Q4 us-gaap Assets
Assets
34003506 usd
CY2023Q3 us-gaap Liabilities
Liabilities
19395823 usd
CY2022Q4 us-gaap Liabilities
Liabilities
28885253 usd
CY2023Q3 us-gaap Assets Net
AssetsNet
0 usd
CY2022 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
25000000 usd
CY2022 SURG Sales Of Asset Description
SalesOfAssetDescription
The agreement may be extended by a period of one (1) year upon mutual consent.
CY2022Q4 SURG Sales Of Asset Percentage
SalesOfAssetPercentage
0.0985 pure
SURG Installment Sale Credit Description
InstallmentSaleCreditDescription
3 month rolling average of 70% of the installment sale credit amount
SURG Prepayment Penalty Description
PrepaymentPenaltyDescription
The Company is subject to a cancellation fee of 3% during the first year and 2% during the second year
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
2000 usd
SURG Default Rate Description
DefaultRateDescription
For any unpaid amounts under this agreement, the Company is subject to a fee of 1.35% per month (16.2% annualized)
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.02 pure
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.02 pure
us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
5000000 usd
us-gaap Line Of Credit Facility Commitment Fee Description
LineOfCreditFacilityCommitmentFeeDescription
For example, if the initial installment sale credit amount is $15,000,000, the credit availability fee would be $300,000 (2%). Any subsequent increase of $5,000,000 or more would result in an additional fee of $100,000 (2%). Commitment fees are paid over a period of 12 months as part of the Seller’s monthly invoicing
CY2023Q3 SURG Installment Sale Liability
InstallmentSaleLiability
5920346 usd
CY2022Q4 SURG Installment Sale Liability
InstallmentSaleLiability
13018184 usd
CY2023Q3 us-gaap Professional Fees
ProfessionalFees
135706 usd
us-gaap Professional Fees
ProfessionalFees
402212 usd

Files In Submission

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0001493152-23-041181-index-headers.html Edgar Link pending
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0001493152-23-041181.txt Edgar Link pending
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ex10-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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surg-20230930.xsd Edgar Link pending
surg-20230930_cal.xml Edgar Link unprocessable
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surg-20230930_pre.xml Edgar Link unprocessable