$TOGI
TurnOnGreen, Inc.

2023 Q1 Form 10-Q Financial Statement

#000121465923007207 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $876.0K
YoY Change
Cost Of Revenue $517.0K
YoY Change
Gross Profit $359.0K
YoY Change
Gross Profit Margin 40.98%
Selling, General & Admin $1.249M $9.650K
YoY Change 12843.01%
% of Gross Profit 347.91%
Research & Development $119.0K $206.0K
YoY Change -42.23%
% of Gross Profit 33.15%
Depreciation & Amortization $22.00K $0.00
YoY Change
% of Gross Profit 6.13%
Operating Expenses $1.368M $9.650K
YoY Change 14076.17%
Operating Profit -$1.009M -$9.650K
YoY Change 10355.96%
Interest Expense $1.000K -$7.080K
YoY Change -114.12%
% of Operating Profit
Other Income/Expense, Net -$2.000K -$2.920K
YoY Change -31.51%
Pretax Income -$1.011M -$16.73K
YoY Change 5943.04%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.011M -$16.73K
YoY Change 5943.4% -72.62%
Net Earnings / Revenue -115.41%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01 -$103.50
COMMON SHARES
Basic Shares Outstanding 172.7M shares
Diluted Shares Outstanding 172.7M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.00K $4.350K
YoY Change 382.76%
Cash & Equivalents $21.00K $293.0K
Short-Term Investments
Other Short-Term Assets $693.0K
YoY Change
Inventory $2.461M
Prepaid Expenses $693.0K
Receivables $716.0K
Other Receivables $0.00
Total Short-Term Assets $3.891M $15.50K
YoY Change 25003.23%
LONG-TERM ASSETS
Property, Plant & Equipment $397.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $270.0K
YoY Change
Total Long-Term Assets $2.200M $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.891M $15.50K
Total Long-Term Assets $2.200M $0.00
Total Assets $6.091M $15.50K
YoY Change 39196.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.066M $7.590K
YoY Change 13944.8%
Accrued Expenses $2.366M $8.290K
YoY Change 28440.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $45.00K
YoY Change -100.0%
Long-Term Debt Due $45.00K
YoY Change
Total Short-Term Liabilities $4.086M $60.89K
YoY Change 6610.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $101.5K
YoY Change -100.0%
Other Long-Term Liabilities $72.00K
YoY Change
Total Long-Term Liabilities $72.00K $101.5K
YoY Change -29.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.086M $60.89K
Total Long-Term Liabilities $72.00K $101.5K
Total Liabilities $5.260M $162.4K
YoY Change 3138.52%
SHAREHOLDERS EQUITY
Retained Earnings -$37.76M
YoY Change
Common Stock $173.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$24.17M -$146.9K
YoY Change
Total Liabilities & Shareholders Equity $6.091M $15.50K
YoY Change 39196.77%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.011M -$16.73K
YoY Change 5943.4% -72.62%
Depreciation, Depletion And Amortization $22.00K $0.00
YoY Change
Cash From Operating Activities -$668.0K -$17.43K
YoY Change 3732.47%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $75.00K
YoY Change -90.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.000K -$75.00K
YoY Change -90.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $601.0K
YoY Change
NET CHANGE
Cash From Operating Activities -$668.0K -17.43K
Cash From Investing Activities -$7.000K -$75.00K
Cash From Financing Activities $601.0K
Net Change In Cash -$74.00K $0.00
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$668.0K -$17.43K
Capital Expenditures $7.000K $75.00K
Free Cash Flow -$675.0K -$92.43K
YoY Change 630.28%

Facts In Submission

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<p id="xdx_807_eus-gaap--NatureOfOperations_zyfG5LgnoJd2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>1. <span id="xdx_82A_zZRAipyFKhy3">DESCRIPTION OF BUSINESS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span> </span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Overview</i> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Imperalis Holding Corp. d/b/a TurnOnGreen, Inc. (“IMHC” or “Imperalis”), through its wholly owned subsidiaries Digital Power Corporation (“Digital Power”) and TOG Technologies (collectively, the “Company”), is an emerging electric vehicle (“EV”) electrification infrastructure solutions and premium custom power products company. The Company designs, develops, manufactures and sells highly engineered, feature-rich, high-grade power conversion systems and power system solutions for mission-critical applications and processes electronic products as well as EV charging solutions to diverse industries, markets and sectors including e-Mobility, medical, military, telecommunications, and industrial.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IMHC was incorporated in Nevada on <span id="xdx_909_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331" title="Entity incorporation, date of incorporation">April 5, 2005</span> and is a subsidiary of Ault Alliance, Inc., a Delaware corporation (the “Parent” or “Ault”) and currently operates as a reporting segment of Ault.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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<p id="xdx_845_eus-gaap--UseOfEstimates_zmzSDgulbfta" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_866_zsl3JwoKK5Wi">Significant Accounting Policies</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Other than as noted below, there have been no material changes to the Company’s significant accounting policies previously disclosed in the 2022 Annual Report.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p>
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Revenues
876000 usd
CY2022Q1 us-gaap Revenues
Revenues
1129000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22000 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3000 usd
CY2023Q1 imhc Related Party Receivables
RelatedPartyReceivables
0 usd
CY2022Q4 imhc Related Party Receivables
RelatedPartyReceivables
25000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
974000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
989000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
577000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
663000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
397000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
326000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3000 usd
CY2023Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
773000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
788000 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1688000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1807000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
2461000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2595000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
54000 usd
CY2022 imhc Additional Liability Accrued
AdditionalLiabilityAccrued
5000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
16000 usd
CY2022 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
16000 usd
CY2023Q1 imhc Total Accrued Warranty
TotalAccruedWarranty
43000 usd
CY2022 imhc Total Accrued Warranty
TotalAccruedWarranty
43000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
202000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
276000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
681000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
681000 usd
CY2023Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
1139000 usd
CY2022Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
639000 usd
CY2023Q1 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
16000 usd
CY2022Q4 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
17000 usd
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
89000 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
103000 usd
CY2023Q1 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
239000 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
255000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2366000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1971000 usd
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
11000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
162000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
162000 usd
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
11000 usd
CY2023Q1 us-gaap Lease Income
LeaseIncome
151000 usd
CY2022Q1 us-gaap Lease Income
LeaseIncome
162000 usd
CY2023Q1 imhc Related Party Receivables
RelatedPartyReceivables
0 usd
CY2022Q4 imhc Related Party Receivables
RelatedPartyReceivables
25000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
1000 usd
CY2023Q1 imhc Accrued Legal Fees
AccruedLegalFees
681000 usd
CY2022Q4 imhc Accrued Legal Fees
AccruedLegalFees
681000 usd
CY2023Q1 imhc Noncancelable Purchase Obligations
NoncancelablePurchaseObligations
60000 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35961000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
45367000 shares
CY2023Q1 imhc Authorized Capital Description
AuthorizedCapitalDescription
The Company is authorized to issue seven hundred fifty million (750,000,000) shares of Common Stock, par value $0.001 per share and ten million (10,000,000) shares of preferred stock, par value $0.001 per share, of which twenty-five thousand shares (25,000) have been designed as Series A Convertible Redeemable Preferred Stock, par value $0.001 per share
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
172694837 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
172694837 shares
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
45000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
45000 usd
CY2023Q1 imhc Convertible Promissory Notes Payable
ConvertiblePromissoryNotesPayable
45000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
75000 usd
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.005

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imhc-20230331_cal.xml Edgar Link unprocessable
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