2024 Q1 Form 10-Q Financial Statement

#000149315224021937 Filed on May 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q1
Revenue $21.81K $23.12K
YoY Change -5.66% -72.76%
Cost Of Revenue $7.490K $8.466K
YoY Change -11.53% -46.89%
Gross Profit $14.32K $14.66K
YoY Change -2.27% -78.75%
Gross Profit Margin 65.66% 63.39%
Selling, General & Admin $629.0K $391.8K
YoY Change 60.53% 34.41%
% of Gross Profit 4390.88% 2673.13%
Research & Development $58.61K $52.73K
YoY Change 11.16% -82.66%
% of Gross Profit 409.19% 359.74%
Depreciation & Amortization $2.720K $2.720K
YoY Change 0.0% -60.29%
% of Gross Profit 18.99% 18.56%
Operating Expenses $687.6K $444.5K
YoY Change 54.67% -25.37%
Operating Profit -$673.2K -$429.9K
YoY Change 56.62% -18.38%
Interest Expense $89.19K $121.8K
YoY Change -26.78% -264.1%
% of Operating Profit
Other Income/Expense, Net -$91.03K -$148.0K
YoY Change -38.5% 99.42%
Pretax Income -$764.3K -$577.9K
YoY Change 32.25% -3.83%
Income Tax
% Of Pretax Income
Net Earnings -$585.1K -$577.9K
YoY Change 1.26% -3.83%
Net Earnings / Revenue -2682.41% -2499.16%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 3.954B shares 2.734B shares
Diluted Shares Outstanding 3.954B shares 2.692B shares

Balance Sheet

Concept 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.48K $18.53K
YoY Change 188.61% -88.82%
Cash & Equivalents $53.48K $18.53K
Short-Term Investments
Other Short-Term Assets $2.628M $128.5K
YoY Change 1944.88% -81.64%
Inventory $19.24K $35.69K
Prepaid Expenses $22.70K $31.73K
Receivables $18.16K $17.73K
Other Receivables $0.00 $0.00
Total Short-Term Assets $924.3K $200.5K
YoY Change 361.11% -78.71%
LONG-TERM ASSETS
Property, Plant & Equipment $371.6K $270.4K
YoY Change 37.46% -13.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.632M $2.935M
YoY Change -10.32% 2900.18%
Total Long-Term Assets $3.124M $3.349M
YoY Change -6.74% -12.77%
TOTAL ASSETS
Total Short-Term Assets $924.3K $200.5K
Total Long-Term Assets $3.124M $3.349M
Total Assets $4.048M $3.550M
YoY Change 14.04% -25.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $385.3K $398.9K
YoY Change -3.42% 7.11%
Accrued Expenses $574.7K $544.9K
YoY Change 5.47% 5.97%
Deferred Revenue
YoY Change
Short-Term Debt $797.7K $1.056M
YoY Change -24.43% -1.68%
Long-Term Debt Due $4.640K $4.640K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $1.945M $2.255M
YoY Change -13.74% -8.32%
LONG-TERM LIABILITIES
Long-Term Debt $4.190K $9.300K
YoY Change -54.95% -33.05%
Other Long-Term Liabilities $92.98K $120.1K
YoY Change -22.59% 5486.51%
Total Long-Term Liabilities $97.17K $129.4K
YoY Change -24.91% 706.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.945M $2.255M
Total Long-Term Liabilities $97.17K $129.4K
Total Liabilities $2.043M $2.385M
YoY Change -14.35% -3.69%
SHAREHOLDERS EQUITY
Retained Earnings -$20.91M -$18.25M
YoY Change 14.58%
Common Stock $4.230M $2.749M
YoY Change 53.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.409M $1.165M
YoY Change
Total Liabilities & Shareholders Equity $4.048M $3.550M
YoY Change 14.04% -25.75%

Cashflow Statement

Concept 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$585.1K -$577.9K
YoY Change 1.26% -3.83%
Depreciation, Depletion And Amortization $2.720K $2.720K
YoY Change 0.0% -60.29%
Cash From Operating Activities -$205.5K -$201.1K
YoY Change 2.2% -6.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.950K
YoY Change -100.0%
Cash From Investing Activities $1.951K
YoY Change -100.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $149.1K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $231.2K $199.6K
YoY Change 15.8% -58.97%
NET CHANGE
Cash From Operating Activities -$205.5K -$201.1K
Cash From Investing Activities $1.951K
Cash From Financing Activities $231.2K $199.6K
Net Change In Cash $25.65K $491.00
YoY Change 5124.85% -99.31%
FREE CASH FLOW
Cash From Operating Activities -$205.5K -$201.1K
Capital Expenditures $0.00
Free Cash Flow -$201.1K
YoY Change -6.42%

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20000 usd
CY2023Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
8500 usd
CY2024Q1 TSOI Debt Discount Recorded In Connection With Derivative Liability
DebtDiscountRecordedInConnectionWithDerivativeLiability
30000 usd
CY2023Q1 TSOI Debt Discount Recorded In Connection With Derivative Liability
DebtDiscountRecordedInConnectionWithDerivativeLiability
69565 usd
CY2024Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
137770 usd
CY2023Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
188459 usd
CY2024Q1 TSOI Common Stock Issued For Prepaid Fees Value
CommonStockIssuedForPrepaidFeesValue
20000 usd
CY2023Q1 TSOI Common Stock Issued For Accrued Salaries Value
CommonStockIssuedForAccruedSalariesValue
20000 usd
CY2024Q1 TSOI Accrued Interest Added To Principal
AccruedInterestAddedToPrincipal
1978 usd
CY2023Q1 TSOI Accrued Interest Added To Principal
AccruedInterestAddedToPrincipal
6479 usd
CY2023Q1 TSOI Common Stock Issued For License Value
CommonStockIssuedForLicenseValue
146244 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
146244 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53477 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18531 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
11003 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53477 usd
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
0 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
0 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29534 usd
CY2024Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2007-08-06
CY2024Q1 TSOI Losses For Period
LossesForPeriod
-20800000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
10647 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
6807 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21814 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
23123 usd
CY2024Q1 TSOI Wholesale Purchase Price And Payments Description
WholesalePurchasePriceAndPaymentsDescription
Seller agrees to sell the Goods to Buyer for Fifty Percent (50%) off Sellers listed retail price. Seller will provide an invoice to Buyer at the time of delivery. All invoices must be paid, in full, within thirty (30) days. Any balances not paid within thirty (30) days will be subject to a five percent (5%) late payment penalty. In the event Buyer exceeds the aggregate of $500,000 worth of aforementioned products having been purchased, delivered, and paid for, Buyer will be entitled to an additional Five Percent (5%) discount up to the aggregate of $750,000.00. In the event Buyer exceeds the aggregate of $750,000 worth of aforementioned products having been purchased, delivered, and paid for, Buyer will be entitled to an additional Five Percent (5%) discount up to the aggregate of $1,500,000.00. All future sales after initial $1,500,000 in aggregate purchases will be sold at 60% off retail.
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
155987 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
181070 usd
CY2023Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
181070 usd
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
85264 usd
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Net
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet
-77943 usd
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
-32404 usd
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
155987 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
52727 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zBGHhAhhPBDd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_z0JqMBDrVTne">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimates were made relating to valuation allowances, impairment of assets, share-based compensation expense and accruals. Actual results could differ materially from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1239961976 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
372997016 shares
CY2024Q1 us-gaap Depreciation
Depreciation
2720 usd
CY2023Q1 us-gaap Depreciation
Depreciation
2720 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
74194 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
74194 usd
CY2024Q1 us-gaap Advertising Expense
AdvertisingExpense
685 usd
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
58612 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
120107 usd
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
22697 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
11037 usd
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1028 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1167 usd
CY2024Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
809700 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
4116 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
833425 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16320 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
413517 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
413517 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
41882 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
39162 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
371635 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
374355 usd
CY2024Q1 us-gaap Depreciation
Depreciation
2720 usd
CY2023Q1 us-gaap Depreciation
Depreciation
2720 usd
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
2627870 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2702064 usd
CY2024Q1 us-gaap Deposit Assets
DepositAssets
4123 usd
CY2023Q4 us-gaap Deposit Assets
DepositAssets
4123 usd
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2631993 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2706187 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3261122 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3261122 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
633252 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
559058 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2627870 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2702064 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
74194 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
74194 usd
CY2024Q1 us-gaap Payments Of Derivative Issuance Costs
PaymentsOfDerivativeIssuanceCosts
85264 usd
CY2024Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
5505000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4230116869 shares
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1002 shares
CY2023 TSOI Stock Issued During Period Values For Salaries
StockIssuedDuringPeriodValuesForSalaries
110000 usd
CY2023 TSOI Stock Issued During Period Common Stock Issued For Land Development
StockIssuedDuringPeriodCommonStockIssuedForLandDevelopment
96000 usd
CY2024Q1 TSOI Preferred Stock Stated Percentage
PreferredStockStatedPercentage
1 pure
CY2024Q1 TSOI Debt Instrument Threshold Trading Days
DebtInstrumentThresholdTradingDays
P20D
CY2023Q1 us-gaap Area Of Land
AreaOfLand
1700 sqft
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P60M
CY2023Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-04-30
CY2024Q1 us-gaap Payments For Rent
PaymentsForRent
6384 usd
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
6261 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.011 pure

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0001493152-24-021937-xbrl.zip Edgar Link pending
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