2023 Q4 Form 10-Q Financial Statement

#000149315223040239 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $2.922M $3.484M $5.491M
YoY Change -34.68% -36.55% 171.59%
Cost Of Revenue $1.683M $2.270M $3.408M
YoY Change -25.32% -33.39% 177.74%
Gross Profit $1.239M $1.214M $2.083M
YoY Change -44.19% -41.72% 162.1%
Gross Profit Margin 42.4% 34.85% 37.94%
Selling, General & Admin $3.987M $4.336M $5.412M
YoY Change -17.32% -19.88% 41.77%
% of Gross Profit 321.76% 357.13% 259.8%
Research & Development $1.203M $1.368M $1.819M
YoY Change -37.59% -24.75% 134.03%
% of Gross Profit 97.12% 112.71% 87.3%
Depreciation & Amortization $781.8K $93.61K $110.2K
YoY Change -25.66% -15.03% -66.6%
% of Gross Profit 63.1% 7.71% 5.29%
Operating Expenses $5.190M $7.204M $7.230M
YoY Change -23.58% -0.36% 57.38%
Operating Profit -$3.951M -$5.990M -$5.147M
YoY Change -13.57% 16.37% 35.47%
Interest Expense $46.19K $84.44K -$6.730K
YoY Change -253.92% -1354.73% -275.72%
% of Operating Profit
Other Income/Expense, Net -$21.16K -$2.030M $6.812M
YoY Change -94.46% -129.8% 27368.88%
Pretax Income -$24.51M -$8.020M $1.665M
YoY Change -47.54% -581.7% -144.15%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$24.51M -$8.020M $1.665M
YoY Change -47.54% -581.7% -144.15%
Net Earnings / Revenue -838.81% -230.2% 30.32%
Basic Earnings Per Share -$0.07 $0.02
Diluted Earnings Per Share -$3.91 -$0.07 $0.01
COMMON SHARES
Basic Shares Outstanding 117.9M shares 109.5M shares 87.00M shares
Diluted Shares Outstanding 111.1M shares 113.6M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $819.0K $1.600M $5.302M
YoY Change -81.17% -69.83% -83.54%
Cash & Equivalents $819.0K $1.600M $5.302M
Short-Term Investments
Other Short-Term Assets $548.6K $800.0K $1.210M
YoY Change -46.72% -33.86% 20.8%
Inventory $6.937M $6.064M $6.118M
Prepaid Expenses $832.2K $1.210M
Receivables $2.058M $2.015M $3.178M
Other Receivables $185.0K $200.0K $185.0K
Total Short-Term Assets $10.55M $10.70M $15.99M
YoY Change -27.08% -33.12% -55.98%
LONG-TERM ASSETS
Property, Plant & Equipment $799.9K $598.0K $838.1K
YoY Change 1.1% -28.65% -39.85%
Goodwill $7.403M $21.68M $64.87M
YoY Change -68.06% -66.58%
Intangibles $2.615M $9.243M $12.22M
YoY Change -77.27% -24.35%
Long-Term Investments
YoY Change
Other Assets $265.6K $300.0K $279.8K
YoY Change -8.76% 7.21% 1019.28%
Total Long-Term Assets $14.61M $35.35M $79.35M
YoY Change -63.22% -55.45% 9.75%
TOTAL ASSETS
Total Short-Term Assets $10.55M $10.70M $15.99M
Total Long-Term Assets $14.61M $35.35M $79.35M
Total Assets $25.16M $46.05M $95.34M
YoY Change -53.57% -51.7% -12.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.063M $2.126M $2.194M
YoY Change 65.99% -3.12% 84.88%
Accrued Expenses $1.944M $2.500M $215.9K
YoY Change 448.87% 1057.88% -82.88%
Deferred Revenue $226.3K $329.5K $653.2K
YoY Change -54.41% -49.55%
Short-Term Debt $4.505M $2.600M $0.00
YoY Change 1467.44%
Long-Term Debt Due $391.6K $300.0K $380.3K
YoY Change -12.3% -21.12%
Total Short-Term Liabilities $11.03M $7.878M $5.772M
YoY Change 104.89% 36.5% -18.29%
LONG-TERM LIABILITIES
Long-Term Debt $489.0K $509.2K $634.3K
YoY Change 9.45% -19.72%
Other Long-Term Liabilities $2.938M $2.800M $660.3K
YoY Change -10.1% 324.08% -91.07%
Total Long-Term Liabilities $489.0K $509.2K $634.3K
YoY Change 9.45% -19.72% -91.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.03M $7.878M $5.772M
Total Long-Term Liabilities $489.0K $509.2K $634.3K
Total Liabilities $14.46M $12.61M $7.066M
YoY Change 31.91% 78.51% -51.12%
SHAREHOLDERS EQUITY
Retained Earnings -$165.6M -$134.4M -$62.59M
YoY Change 48.43% 114.7%
Common Stock $140.5K $117.9K $87.45K
YoY Change 58.84% 34.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.70M $33.44M $88.28M
YoY Change
Total Liabilities & Shareholders Equity $25.16M $46.05M $95.34M
YoY Change -53.57% -51.7% -12.23%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$24.51M -$8.020M $1.665M
YoY Change -47.54% -581.7% -144.15%
Depreciation, Depletion And Amortization $781.8K $93.61K $110.2K
YoY Change -25.66% -15.03% -66.6%
Cash From Operating Activities -$2.126M -$2.050M -$3.714M
YoY Change -55.38% -44.8% 17.1%
INVESTING ACTIVITIES
Capital Expenditures $115.4K $50.00K -$113.2K
YoY Change 81.98% -144.16% 651.86%
Acquisitions
YoY Change
Other Investing Activities -$91.61K -$90.00K -$3.945M
YoY Change -60.79% -97.72% -34.95%
Cash From Investing Activities -$217.0K -$140.0K -$4.059M
YoY Change -26.95% -96.55% -33.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.821M -50.00K 12.85K
YoY Change -44.58% -489.11% -99.43%
NET CHANGE
Cash From Operating Activities -2.126M -2.050M -3.714M
Cash From Investing Activities -217.0K -140.0K -4.059M
Cash From Financing Activities 1.821M -50.00K 12.85K
Net Change In Cash -522.8K -2.240M -7.760M
YoY Change -70.59% -71.13% 10.96%
FREE CASH FLOW
Cash From Operating Activities -$2.126M -$2.050M -$3.714M
Capital Expenditures $115.4K $50.00K -$113.2K
Free Cash Flow -$2.242M -$2.100M -$3.601M
YoY Change -53.58% -41.68% 14.08%

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<p id="xdx_84C_eus-gaap--UseOfEstimates_zKyz4TyE8V0e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_866_zerRkRsMdiVj">Use of Estimates</span> </i>– The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the reserve for obsolete inventory, valuation of stock issued for services and stock options, valuation of intangible assets, valuation of goodwill, and the valuation of deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.75pt"><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 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(UNAUDITED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2 – Summary of Significant Accounting Policies-Continued</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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GoodFaithAcquisitionOfconsideration
15000000 usd
UAVS Covid Loan Disclosuretext Block
CovidLoanDisclosuretextBlock
<p id="xdx_80E_ecustom--CovidLoanDisclosuretextBlock_zsvA7GqbYgt6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 5 – <span id="xdx_828_zFVdUaxu8oT9">COVID Loans</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the senseFly Acquisition, the Company assumed the obligations for two COVID Loans originally made by the SBA to senseFly S.A. on July 27, 2020 (“senseFly COVID Loans”). As of senseFly Acquisition Date, the fair value of the COVID Loan was $<span id="xdx_907_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities_iI_c20230930__us-gaap--BusinessAcquisitionAxis__custom--SenseflyMember_zgn2zyV25n01" title="Fair value of the covid loan">1,440,046</span> (“senseFly COVID Loans”). For the three and nine months ended September 30, 2023, senseFly S.A. made the required payments on the senseFly COVID Loans, including principal and accrued interest, aggregating approximately $<span id="xdx_909_eus-gaap--RepaymentsOfDebt_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--SenseflyMember_ziOVxCNL9FK2" title="Payment of principal and interest"><span id="xdx_904_eus-gaap--RepaymentsOfDebt_c20220101__20220930__us-gaap--DebtInstrumentAxis__custom--SenseflyMember_zQ5klFrsWaRg" title="Payment of principal and interest">87,052</span></span> for the three and nine months ended September 30, 2022, respectively, <span id="xdx_90E_eus-gaap--RepaymentsOfDebt_do_c20230701__20230930__us-gaap--DebtInstrumentAxis__custom--SenseflyMember_zehZ0WnydeQ7" title="Payment of principal and interest"><span id="xdx_909_eus-gaap--RepaymentsOfDebt_do_c20230101__20230930__us-gaap--DebtInstrumentAxis__custom--SenseflyMember_z8X2oVCC2Pj5" title="Payment of principal and interest">no</span></span> payments of principal and interest were required. As of September 30, 2023, the Company’s outstanding obligations under the senseFly COVID Loans are $<span id="xdx_90B_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230930__us-gaap--DebtInstrumentAxis__custom--SenseflyCovidLoansMember_zxj4qBhtOjQ6" title="Outstanding obligations under the covid loans">815,906</span>. On August 25, 2023, the Company modified one (1) its existing agreements to extend the repayment period of the COVID Loan from a maturity date of December 2023 to June 2025. The other COVID loan remains unchanged.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zrhkJxlREM5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of September 30, 2023, scheduled principal payments due under the senseFly COVID Loans are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zc7gJW2vowb9" style="display: none">Schedule of Maturity of SenseFly Covid Loans</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_49C_20230930__us-gaap--DebtInstrumentAxis__custom--SenseflyCovidLoansMember_zwy7z5Px05D3" style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Year ending December 31,</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pp0p0" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 77%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2023 (rest of year)</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">58,487</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">306,722</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">180,064</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">90,213</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">2027</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">180,420</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iI_pp0p0" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">815,906</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A4_z5FuGeF1D2v7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
4334765 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
5288206 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
714596 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1106056 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1412710 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
614400 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
6462071 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
7008662 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
398136 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
322815 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
6063935 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
6685847 usd
CY2023Q3 us-gaap Supplies
Supplies
171017 usd
CY2022Q4 us-gaap Supplies
Supplies
281484 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
244628 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
184429 usd
CY2023Q3 us-gaap Prepaid Rent
PrepaidRent
98751 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
234691 usd
CY2023Q3 us-gaap Prepaid Insurance
PrepaidInsurance
199046 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
167794 usd
CY2023Q3 us-gaap Prepaid Taxes
PrepaidTaxes
41030 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
99558 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
77716 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
61592 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
832188 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1029548 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
774916 usd
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
279394 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
288807 usd
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
342873 usd
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
172596 usd
CY2023Q3 us-gaap Interest Payable Current
InterestPayableCurrent
236172 usd
CY2023Q3 us-gaap Depreciation
Depreciation
93614 usd
CY2022Q3 us-gaap Depreciation
Depreciation
110176 usd
us-gaap Depreciation
Depreciation
293538 usd
us-gaap Depreciation
Depreciation
337826 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11507653 usd
us-gaap Finite Lived Intangible Assets Period Increase Decrease
FiniteLivedIntangibleAssetsPeriodIncreaseDecrease
469112 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2734106 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9242659 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P4Y25D
CY2023Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
919774 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
932880 usd
CY2022Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
2734106 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
2549418 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
811877 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2849173 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1620131 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1221036 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1158057 usd
CY2023Q3 UAVS Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1582385 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9242659 usd
CY2023Q3 UAVS Accrued Purchases And Customer Deposits
AccruedPurchasesAndCustomerDeposits
220784 usd
CY2022Q4 UAVS Accrued Purchases And Customer Deposits
AccruedPurchasesAndCustomerDeposits
102319 usd
CY2023Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
406739 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
3500000 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
5000000 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.44
CY2022Q4 UAVS Debt Instrument Original Issue Discount Percent
DebtInstrumentOriginalIssueDiscountPercent
0.04 pure
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.08 pure
CY2022Q4 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
3285000 usd
CY2022Q4 us-gaap Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
140000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
75000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1847200 usd
us-gaap Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
1182349 usd
UAVS Debt Instrument Discount Including Fair Value Of Warrants
DebtInstrumentDiscountIncludingFairValueOfWarrants
1397350 usd
CY2023Q2 us-gaap Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
175000 usd
CY2022Q2 us-gaap Investments In And Advances To Affiliates At Fair Value Gross Additions
InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions
3300000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
525000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
175000 usd
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
595000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1523867 usd
CY2023Q3 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
4095000 usd
UAVS Gains Losses On Extinguishment Of Debt Net
GainsLossesOnExtinguishmentOfDebtNet
2571133 usd
CY2023Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
3500000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
928867 usd
CY2023Q4 UAVS Net Proceeds Percentage
NetProceedsPercentage
0.50 pure
CY2023Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
2000000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
84443 usd
us-gaap Interest Expense
InterestExpense
412188 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
75950 usd
us-gaap Interest Expense
InterestExpense
236172 usd
us-gaap Interest Expense
InterestExpense
236172 usd
CY2023Q3 UAVS Percentage Of Aggregate Of The Offered Securities
PercentageOfAggregateOfTheOfferedSecurities
0.50 pure
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 UAVS Description Of Down Round Or Anti Dilution Trigger Event
DescriptionOfDownRoundOrAntiDilutionTriggerEvent
a down round or anti-dilution trigger event occurred resulting in the conversion rate on the Series F and the exercise price of the Series F Warrants issued with the Series F adjusting down to $0.44 from $0.62 and $0.96, respectively (the “December Down Round Trigger”).
UAVS Aggregate Deemed Dividend
AggregateDeemedDividend
2245377 usd
CY2023Q1 UAVS Aggregate Deemed Dividend
AggregateDeemedDividend
255976 usd
CY2023Q2 UAVS Aggregate Deemed Dividend
AggregateDeemedDividend
4654918 usd
CY2023Q3 us-gaap Dividends
Dividends
49122 usd
us-gaap Dividends
Dividends
170277 usd
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
1000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
142845 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1125209 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
556837 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3058741 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
710769 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
538198 usd
CY2023Q3 UAVS Lieu Payment
LieuPayment
15000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2561231 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.18
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.19
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M29D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
31124 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
325000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.32
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.15
UAVS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted
P3Y7D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
108499 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2023Q3 us-gaap Share Price
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us-gaap Operating Lease Impairment Loss
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CY2023Q3 us-gaap Operating Lease Expense
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us-gaap Operating Lease Expense
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CY2022Q3 us-gaap Operating Lease Expense
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us-gaap Operating Lease Expense
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CY2023Q3 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q3 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Operating Lease Liability Current
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CY2023Q3 us-gaap Operating Lease Liability Noncurrent
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q3 UAVS Lessee Operating Lease Liability Payments Due After Year Four
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182695 usd
CY2023Q3 us-gaap Operating Lease Liability
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q3 us-gaap Operating Lease Liability Current
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CY2023Q3 us-gaap Operating Lease Liability Noncurrent
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us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q3 UAVS Cash Paid For Amounts Included In Measurement Of Liabilities Operating Cash Flows For Operating Leases
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CY2022Q3 UAVS Cash Paid For Amounts Included In Measurement Of Liabilities Operating Cash Flows For Operating Leases
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UAVS Cash Paid For Amounts Included In Measurement Of Liabilities Operating Cash Flows For Operating Leases
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UAVS Cash Paid For Amounts Included In Measurement Of Liabilities Operating Cash Flows For Operating Leases
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CY2023Q1 us-gaap Additional Liability Long Duration Insurance Gross Premium Income
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CY2023Q3 us-gaap Other Commitment
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2126081 usd
CY2022Q4 us-gaap Other Commitment
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CY2023Q3 us-gaap Legal Fees
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CY2023Q3 us-gaap Goodwill
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CY2023Q3 us-gaap Assets
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CY2022Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Assets
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CY2023Q3 us-gaap Revenues
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CY2023Q3 us-gaap Operating Income Loss
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CY2022Q3 us-gaap Revenues
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CY2022Q3 us-gaap Cost Of Revenue
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us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
14620565 usd

Files In Submission

Name View Source Status
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0001493152-23-040239-index.html Edgar Link pending
0001493152-23-040239.txt Edgar Link pending
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ex31-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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uavs-20230930.xsd Edgar Link pending
uavs-20230930_def.xml Edgar Link unprocessable
uavs-20230930_lab.xml Edgar Link unprocessable
uavs-20230930_pre.xml Edgar Link unprocessable