$TENX
TENAX THERAPEUTICS, INC.

2023 Q4 Form 10-Q Financial Statement

#000165495423014168 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.642M $1.050M
YoY Change 15.62% -23.76%
% of Gross Profit
Research & Development $1.699M $1.066M
YoY Change 49.74% -30.8%
% of Gross Profit
Depreciation & Amortization $7.570K $1.000K
YoY Change 464.93% -16.67%
% of Gross Profit
Operating Expenses $3.341M $2.117M
YoY Change 30.78% -27.42%
Operating Profit $2.117M
YoY Change -27.42%
Interest Expense -$369.0K $5.337K
YoY Change 1334.68%
% of Operating Profit 0.25%
Other Income/Expense, Net $484.4K $0.00
YoY Change 8222.51% -100.0%
Pretax Income -$3.226M -$1.970M
YoY Change 26.55% -32.45%
Income Tax
% Of Pretax Income
Net Earnings -$3.226M $1.972M
YoY Change 26.55% -32.39%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$10.79 -$0.08
COMMON SHARES
Basic Shares Outstanding 23.86M shares 23.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.792M $11.14M
YoY Change 361.09% 192.66%
Cash & Equivalents $9.792M $11.14M
Short-Term Investments
Other Short-Term Assets $1.891M $267.1K
YoY Change 446.87% -62.23%
Inventory
Prepaid Expenses $1.640M $474.9K
Receivables
Other Receivables
Total Short-Term Assets $11.68M $11.88M
YoY Change 264.15% 163.27%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $4.706K
YoY Change -100.0% -51.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.120K $1.117K
YoY Change -88.27% -86.76%
Total Long-Term Assets $1.120K $5.823K
YoY Change -99.43% -97.42%
TOTAL ASSETS
Total Short-Term Assets $11.68M $11.88M
Total Long-Term Assets $1.120K $5.823K
Total Assets $11.68M $11.89M
YoY Change 243.19% 150.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.073M $134.8K
YoY Change 362.32% -49.21%
Accrued Expenses $1.012M $293.0K
YoY Change 30.63% -30.97%
Deferred Revenue
YoY Change
Short-Term Debt $500.9K $170.0K
YoY Change -19.77%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.587M $602.2K
YoY Change 94.1% -12.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.587M $602.2K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.587M $602.2K
YoY Change 87.58% -23.3%
SHAREHOLDERS EQUITY
Retained Earnings -$297.3M -$294.0M
YoY Change 2.66% 2.45%
Common Stock $30.00 $2.386K
YoY Change -99.35% -20.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.098M $11.29M
YoY Change
Total Liabilities & Shareholders Equity $11.68M $11.89M
YoY Change 243.19% 150.87%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$3.226M $1.972M
YoY Change 26.55% -32.39%
Depreciation, Depletion And Amortization $7.570K $1.000K
YoY Change 464.93% -16.67%
Cash From Operating Activities -$1.174M -$2.080M
YoY Change -49.27% -37.55%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $2.840K $0.00
YoY Change
Cash From Investing Activities $2.840K $0.00
YoY Change -29.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.9K -170.0K
YoY Change -127.28% 85.02%
NET CHANGE
Cash From Operating Activities -1.174M -2.080M
Cash From Investing Activities 2.840K 0.000
Cash From Financing Activities -170.9K -170.0K
Net Change In Cash -1.342M -2.250M
YoY Change -20.27% -34.26%
FREE CASH FLOW
Cash From Operating Activities -$1.174M -$2.080M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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TENAX THERAPEUTICS, INC.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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dei Security12b Title
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On an ongoing basis, management reviews its estimates to ensure that these estimates appropriately reflect changes in the Company’s business and new information as it becomes available. If historical experience and other factors used by management to make these estimates do not reasonably reflect future activity, the Company’s results of operations and financial position could be materially impacted.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Federal Deposit Insurance Corporation (the “FDIC”) insurance limits are $250,000 per depositor per insured bank. The Company had cash balances of $345,000 and $1.9 million uninsured by the FDIC as of September 30, 2023 and December 31, 2022, respectively. In August 2023, the Company, through its commercial bank, began to utilize the IntraFi network of commercial banks. IntraFi deposits $250,000 in each of its member banks to maintain the FDIC insurance limit. On September 30, 2023, the Company had $10.5 million deposited in the network which is fully FDIC insured.  </p>
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CY2023Q3 us-gaap Cash
Cash
345000 usd
CY2023Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1900000 usd
CY2023Q3 tenx Fdic Insured Amount Deposit
FDICInsuredAmountDeposit
10500000 usd
CY2023Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
11900000 usd
CY2022Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
3200000 usd
CY2023Q3 tenx Working Capital Amount
WorkingCapitalAmount
11300000 usd
CY2022Q4 tenx Working Capital Amount
WorkingCapitalAmount
1400000 usd
CY2023Q3 tenx Cash Resources
CashResources
11100000 usd
CY2022Q4 tenx Cash Resources
CashResources
2100000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
1000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
1200 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245545 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245391 usd
CY2023Q3 tenx Operating Lease Liability Current1
OperatingLeaseLiabilityCurrent1
0 usd
CY2022Q4 tenx Operating Lease Liability Current1
OperatingLeaseLiabilityCurrent1
119393 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
47416 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
410261 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
292961 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
775045 usd
us-gaap Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
693669 usd
CY2023Q3 tenx Downpayment Of Notes Payble
DownpaymentOfNotesPayble
69367 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
624302 usd
tenx Note Payable Monthly Installment
NotePayableMonthlyInstallment
58873 usd
tenx Account Payable Interest Bearing Interest Rate
AccountPayableInterestBearingInterestRate
0.0739 pure
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
5337 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
21151 usd
CY2023Q3 us-gaap Notes Payable Current
NotesPayableCurrent
174466 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
624302 usd
tenx Lease Termdescription
LeaseTermdescription
The Lease was amended in August 2015, March 2016 and April 2021 to extend the term for the 5,954 square foot rental. Pursuant to the Amendment dated April 2021, the existing lease term was extended through June 30, 2024
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
125034 usd
tenx Percentage Of Annual Increase In Rent
PercentageOfAnnualIncreaseInRent
0.025 pure
us-gaap Lease Cost
LeaseCost
169867 usd
tenx Lease Monthly Installment
LeaseMonthlyInstallment
750 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23862434 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2291809 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1722240 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1576240 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
17.13
us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
17333332 shares
tenx Weighted Average Exercise Price Issued
WeightedAverageExercisePriceIssued
2.25
tenx Warrants Amended And Restated
WarrantsAmendedAndRestated
-17187332 shares
tenx Weighted Average Exercise Price Amended And Restared
WeightedAverageExercisePriceAmendedAndRestared
2.25
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1722240 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
15.87
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0223 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0569 pure

Files In Submission

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tenx-20230930_cal.xml Edgar Link unprocessable
0001654954-23-014168-index-headers.html Edgar Link pending
0001654954-23-014168-index.html Edgar Link pending
0001654954-23-014168.txt Edgar Link pending
0001654954-23-014168-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
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tenx-20230930.xsd Edgar Link pending
tenx_10q.htm Edgar Link pending
tenx_ex311.htm Edgar Link pending
tenx_ex312.htm Edgar Link pending
tenx_ex321.htm Edgar Link pending
tenx_ex322.htm Edgar Link pending
tenx-20230930_def.xml Edgar Link unprocessable
tenx-20230930_lab.xml Edgar Link unprocessable
tenx-20230930_pre.xml Edgar Link unprocessable
tenx_10q_htm.xml Edgar Link completed