2024 Q2 Form 10-K Financial Statement

#000147793224003883 Filed on June 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $11.58K $80.00 $3.549K
YoY Change 6335.56% -95.14%
Cost Of Revenue $0.00 -$10.23K $0.00
YoY Change -100.0%
Gross Profit $11.58K $10.31K $3.549K
YoY Change 6335.56% -92.97%
Gross Profit Margin 100.0% 12887.5% 100.0%
Selling, General & Admin $544.7K -$251.9K $986.2K
YoY Change 105.38% 144289.46%
% of Gross Profit 4702.0% -2443.16% 27787.55%
Research & Development $241.9K $214.0K $441.5K
YoY Change 486.81% 79.35%
% of Gross Profit 2088.49% 2075.46% 12441.08%
Depreciation & Amortization $0.00 $0.00 $102.00
YoY Change -100.0% -99.19%
% of Gross Profit 0.0% 0.0% 2.87%
Operating Expenses $786.6K -$37.91K $1.428M
YoY Change 156.7% -65.57%
Operating Profit -$775.0K $48.22K -$1.424M
YoY Change 153.07% -65.24%
Interest Expense $141.9K -$83.32K $569.8K
YoY Change -28.36% 2.32%
% of Operating Profit -172.79%
Other Income/Expense, Net -$308.6K -$614.3K
YoY Change 55.85% 17.45%
Pretax Income -$1.084M -$79.63K -$2.038M
YoY Change 114.89% -55.87%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.084M -$79.63K -$2.038M
YoY Change 114.89% -56.12%
Net Earnings / Revenue -9354.29% -99537.5% -57437.53%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 $0.00 -$0.07
COMMON SHARES
Basic Shares Outstanding 92.43M shares 38.77M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $580.00 $21.45K $21.45K
YoY Change -99.26% -73.19%
Cash & Equivalents $584.00 $21.45K
Short-Term Investments
Other Short-Term Assets $476.4K $5.000K $5.000K
YoY Change 3378.6% -63.83%
Inventory $0.00 $0.00
Prepaid Expenses $5.000K
Receivables $0.00 $0.00 $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $476.9K $26.45K $26.45K
YoY Change 133.51% -87.36% -87.4%
LONG-TERM ASSETS
Property, Plant & Equipment $165.3K $203.5K $203.5K
YoY Change 181.96% 103.48%
Goodwill
YoY Change
Intangibles $11.91K $11.91K
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $13.95K $13.95K $13.95K
YoY Change 1.88% 0.89% 39.5%
Total Long-Term Assets $191.2K $229.3K $229.3K
YoY Change 164.31% 101.26% 108.49%
TOTAL ASSETS
Total Short-Term Assets $476.9K $26.45K $26.45K
Total Long-Term Assets $191.2K $229.3K $229.3K
Total Assets $668.1K $255.8K $255.8K
YoY Change 141.57% -20.85% -20.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.638M $4.311M $4.311M
YoY Change -4.96% 149.2%
Accrued Expenses $851.2K $433.2K $433.2K
YoY Change 267.95% 209.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.313M $2.271M $2.271M
YoY Change -37.05% 6.63%
Total Short-Term Liabilities $6.330M $7.433M $7.433M
YoY Change 3.0% 85.55% 85.36%
LONG-TERM LIABILITIES
Long-Term Debt $497.5K $125.0K $125.0K
YoY Change -40.84% -93.13%
Other Long-Term Liabilities $98.37K $144.7K $144.7K
YoY Change 284.71% 261.75%
Total Long-Term Liabilities $595.9K $269.7K $269.7K
YoY Change -31.24% -85.57% -85.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.330M $7.433M $7.433M
Total Long-Term Liabilities $595.9K $269.7K $269.7K
Total Liabilities $6.926M $7.703M $7.703M
YoY Change -1.23% 31.1% 31.0%
SHAREHOLDERS EQUITY
Retained Earnings -$68.15M -$66.67M
YoY Change 3.49% 3.15%
Common Stock $93.33K $38.77K
YoY Change 308.3% 90.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.258M -$7.447M -$7.447M
YoY Change
Total Liabilities & Shareholders Equity $668.1K $255.8K $255.8K
YoY Change 141.57% -20.85% -20.07%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$1.084M -$79.63K -$2.038M
YoY Change 114.89% -56.12%
Depreciation, Depletion And Amortization $0.00 $0.00 $102.00
YoY Change -100.0% -99.19%
Cash From Operating Activities -$421.5K -$572.9K -$1.817M
YoY Change 41.18% 0.07%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 421.0K 515.1K $1.754M
YoY Change 11.73% -4.65%
NET CHANGE
Cash From Operating Activities -421.5K -572.9K -$1.817M
Cash From Investing Activities 0.000 0.000 $0.00
Cash From Financing Activities 421.0K 515.1K $1.754M
Net Change In Cash -490.0 -57.75K -$62.58K
YoY Change -100.63% -357.45%
FREE CASH FLOW
Cash From Operating Activities -$421.5K -$572.9K -$1.817M
Capital Expenditures
Free Cash Flow
YoY Change

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