2024 Q4 Form 10-Q Financial Statement

#000121465924019185 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $1.290M $1.166M
YoY Change 10.63% -36.18%
Cost Of Revenue $615.0K $1.138M
YoY Change -45.96% 22.23%
Gross Profit $675.0K $28.00K
YoY Change 2310.71% -96.88%
Gross Profit Margin 52.33% 2.4%
Selling, General & Admin $1.138M $1.105M
YoY Change 2.99% -15.52%
% of Gross Profit 168.59% 3946.43%
Research & Development $97.00K $97.00K
YoY Change 0.0% 36.62%
% of Gross Profit 14.37% 346.43%
Depreciation & Amortization $17.00K $23.00K
YoY Change -26.09% 130.0%
% of Gross Profit 2.52% 82.14%
Operating Expenses $1.235M $1.202M
YoY Change 2.75% -12.84%
Operating Profit -$560.0K -$1.174M
YoY Change -52.3% 143.06%
Interest Expense $2.000K
YoY Change -166.67%
% of Operating Profit
Other Income/Expense, Net -$100.0K -$25.00K
YoY Change 300.0% 733.33%
Pretax Income -$1.199M
YoY Change 146.71%
Income Tax
% Of Pretax Income
Net Earnings -$660.0K -$1.199M
YoY Change -44.95% 146.71%
Net Earnings / Revenue -51.16% -102.83%
Basic Earnings Per Share -$0.01 -$0.01
Diluted Earnings Per Share -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 183.9M shares 183.9M shares 183.9M shares
Diluted Shares Outstanding 183.9M shares 180.8M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.00K
YoY Change -46.15%
Cash & Equivalents $33.00K $35.00K
Short-Term Investments
Other Short-Term Assets $672.0K
YoY Change -11.11%
Inventory $1.087M $1.873M
Prepaid Expenses $698.0K $672.0K
Receivables $621.0K $696.0K
Other Receivables $0.00
Total Short-Term Assets $2.439M $3.276M
YoY Change -25.55% -30.21%
LONG-TERM ASSETS
Property, Plant & Equipment $338.0K $369.0K
YoY Change -8.4% 48.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $270.0K $270.0K
YoY Change 0.0% -6.9%
Total Long-Term Assets $1.316M $1.908M
YoY Change -31.03% -17.9%
TOTAL ASSETS
Total Short-Term Assets $2.439M $3.276M
Total Long-Term Assets $1.316M $1.908M
Total Assets $3.755M $5.184M
YoY Change -27.57% -26.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $696.0K $1.178M
YoY Change -40.92% 29.45%
Accrued Expenses $1.012M
YoY Change 62.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.352M $32.46M
YoY Change -77.35% 1428.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $154.0K $72.00K
YoY Change 113.89% -94.84%
Total Long-Term Liabilities $154.0K $72.00K
YoY Change 113.89% -95.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.352M $32.46M
Total Long-Term Liabilities $154.0K $72.00K
Total Liabilities $7.707M $33.32M
YoY Change -76.87% 820.36%
SHAREHOLDERS EQUITY
Retained Earnings -$46.32M -$41.82M
YoY Change 10.75% 23.67%
Common Stock $184.0K $184.0K
YoY Change 0.0% 13.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$28.95M -$28.13M
YoY Change
Total Liabilities & Shareholders Equity $3.755M $5.184M
YoY Change -27.57% -26.13%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$660.0K -$1.199M
YoY Change -44.95% 146.71%
Depreciation, Depletion And Amortization $17.00K $23.00K
YoY Change -26.09% 130.0%
Cash From Operating Activities -$687.0K
YoY Change -73.0%
INVESTING ACTIVITIES
Capital Expenditures $14.00K
YoY Change -107.91%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$14.00K
YoY Change -92.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 671.0K
YoY Change -75.07%
NET CHANGE
Cash From Operating Activities -687.0K
Cash From Investing Activities -14.00K
Cash From Financing Activities 671.0K
Net Change In Cash -30.00K
YoY Change 3.16%
FREE CASH FLOW
Cash From Operating Activities -$687.0K
Capital Expenditures $14.00K
Free Cash Flow -$701.0K
YoY Change -70.39%

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NetCashProvidedByUsedInOperatingActivities
-2244000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
53000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-28000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
2037000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1385000 usd
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
577000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
39000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
211000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2037000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2212000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-60000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
95000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35000 usd
us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
3678000 usd
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
55000 usd
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2005-04-05
CY2024Q3 us-gaap Revenues
Revenues
1290000 usd
CY2023Q3 us-gaap Revenues
Revenues
1166000 usd
us-gaap Revenues
Revenues
3751000 usd
us-gaap Revenues
Revenues
2766000 usd
CY2023Q3 us-gaap Revenues
Revenues
1166000 usd
us-gaap Revenues
Revenues
3751000 usd
us-gaap Revenues
Revenues
2766000 usd
CY2024Q3 us-gaap Revenues
Revenues
1290000 usd
CY2023Q3 us-gaap Revenues
Revenues
1166000 usd
us-gaap Revenues
Revenues
3751000 usd
us-gaap Revenues
Revenues
2766000 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1060000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1007000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
722000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
649000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
338000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
358000 usd
CY2024Q3 us-gaap Depreciation
Depreciation
17000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
23000 usd
us-gaap Depreciation
Depreciation
68000 usd
us-gaap Depreciation
Depreciation
68000 usd
CY2024Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
452000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
878000 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
635000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
461000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
1087000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1339000 usd
CY2024Q3 us-gaap Sublease Income
SubleaseIncome
25000 usd
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
25000 usd
us-gaap Sublease Income
SubleaseIncome
75000 usd
us-gaap Sublease Income
SubleaseIncome
61000 usd
CY2024Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
162000 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
486000 usd
CY2024Q3 us-gaap Sublease Income
SubleaseIncome
25000 usd
us-gaap Sublease Income
SubleaseIncome
75000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
137000 usd
us-gaap Lease Cost
LeaseCost
411000 usd
CY2023Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
162000 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
461000 usd
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
25000 usd
us-gaap Sublease Income
SubleaseIncome
61000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
137000 usd
us-gaap Lease Cost
LeaseCost
400000 usd
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 usd
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
730000 usd
CY2024Q3 togi Related Party Receivables
RelatedPartyReceivables
0 usd
CY2023Q4 togi Related Party Receivables
RelatedPartyReceivables
0 usd
togi Schedule Of Related Party Notes Payble
ScheduleOfRelatedPartyNotesPayble
<table cellpadding="0" cellspacing="0" id="xdx_892_ecustom--ScheduleOfRelatedPartyNotesPayble_zpg2g38ozV6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_8B7_zqRZSl6ER3Jg" style="display: none">Schedule of related party notes payable</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Interest <br/> rate</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Due date</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">September 30,<br/> 2024</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31,<br/> 2023</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Hyperscale advance payable</td><td style="width: 1%"> </td> <td style="width: 14%; text-align: center"><span id="xdx_909_eus-gaap--RelatedPartyTransactionRate_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HyperscaleAdvancePayableMember_pdd" title="Interest rate">10%</span></td><td style="width: 1%"> </td> <td style="width: 14%; text-align: center">-</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--RelatedPartyNotesAndAdvancePayable_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HyperscaleAdvancePayableMember_pp0p0" style="width: 12%; text-align: right" title="Total related party notes and advances payable">4,453,000</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--RelatedPartyNotesAndAdvancePayable_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HyperscaleAdvancePayableMember_pp0p0" style="width: 12%; text-align: right" title="Total related party notes and advances payable">2,407,000</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Chief Executive Officer</td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--RelatedPartyTransactionRate_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_pdd" title="Interest rate">14%</span></td><td> </td> <td style="text-align: center">Default</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--RelatedPartyNotesAndAdvancePayable_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_pp0p0" style="text-align: right" title="Total related party notes and advances payable">46,000</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--RelatedPartyNotesAndAdvancePayable_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_pp0p0" style="text-align: right" title="Total related party notes and advances payable">51,000</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Non-officer advance payable</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">-</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">-</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--RelatedPartyNotesAndAdvancePayable_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NonOfficerJuneAndSeptember2023AdvancePayableMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Total related party notes and advances payable">10,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--RelatedPartyNotesAndAdvancePayable_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NonOfficerJuneAndSeptember2023AdvancePayableMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Total related party notes and advances payable">14,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 2.5pt">Total related party notes and advances payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--RelatedPartyNotesAndAdvancePayable_c20240930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total related party notes and advances payable">4,509,000</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--RelatedPartyNotesAndAdvancePayable_c20231231_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total related party notes and advances payable">2,472,000</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2024Q3 togi Related Party Notes And Advance Payable
RelatedPartyNotesAndAdvancePayable
4509000 usd
CY2023Q4 togi Related Party Notes And Advance Payable
RelatedPartyNotesAndAdvancePayable
2472000 usd
CY2024Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2000000 usd
CY2024Q3 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
8000000 usd
CY2024Q3 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2026-12-31
CY2024Q3 togi Interest Expenses Related Party
InterestExpensesRelatedParty
100000 usd
CY2023Q3 togi Interest Expenses Related Party
InterestExpensesRelatedParty
25000 usd
togi Interest Expenses Related Party
InterestExpensesRelatedParty
257000 usd
togi Interest Expenses Related Party
InterestExpensesRelatedParty
114000 usd
togi Cash Paid For Related Party Notes And Advances Payable
CashPaidForRelatedPartyNotesAndAdvancesPayable
6000 usd
togi Cash Paid For Related Party Notes And Advances Payable
CashPaidForRelatedPartyNotesAndAdvancesPayable
0 usd
CY2024Q3 togi Noncancelable Purchase Obligations
NoncancelablePurchaseObligations
24000 usd
CY2023Q4 togi Noncancelable Purchase Obligations
NoncancelablePurchaseObligations
36000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1390961864 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
428901218 shares
togi Authorized Capital Description
AuthorizedCapitalDescription
The Company is authorized to issue 2 billion (2,000,000,000) shares of common stock, par value $0.001 per share and fifty million (50,000,000) shares of preferred stock, par value $0.001 per share, of which twenty-five thousand shares (25,000) have been designated as Series A Convertible Redeemable Preferred Stock, par value $0.001
CY2024Q2 togi Warrant Issued
WarrantIssued
24954170 shares
CY2024Q2 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
Each warrant entitles the holder to purchase one share of common stock at a price of $.10 per share.
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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