2024 Q4 Form 10-Q Financial Statement

#000147793224007039 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $326.0K
YoY Change -0.81%
% of Gross Profit
Research & Development $65.89K
YoY Change -45.89%
% of Gross Profit
Depreciation & Amortization $1.010K
YoY Change
% of Gross Profit
Operating Expenses $391.9K
YoY Change -13.0%
Operating Profit -$391.9K
YoY Change -13.0%
Interest Expense $7.613K
YoY Change -51.75%
% of Operating Profit
Other Income/Expense, Net $88.24K
YoY Change -350.11%
Pretax Income -$303.7K
YoY Change -38.03%
Income Tax
% Of Pretax Income
Net Earnings -$303.7K
YoY Change -37.48%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 250.1M shares 248.4M shares
Diluted Shares Outstanding 248.6M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.78K
YoY Change -37.46%
Cash & Equivalents $43.78K
Short-Term Investments
Other Short-Term Assets $19.91K
YoY Change -33.63%
Inventory $0.00
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $63.69K
YoY Change -53.87%
LONG-TERM ASSETS
Property, Plant & Equipment $54.73K
YoY Change -31.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.850K
YoY Change -96.44%
Total Long-Term Assets $86.94K
YoY Change -56.0%
TOTAL ASSETS
Total Short-Term Assets $63.69K
Total Long-Term Assets $86.94K
Total Assets $150.6K
YoY Change -55.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $926.6K
YoY Change -17.27%
Accrued Expenses $451.3K
YoY Change 167.0%
Deferred Revenue
YoY Change
Short-Term Debt $707.5K
YoY Change 1.07%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.235M
YoY Change 8.36%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K
YoY Change
Other Long-Term Liabilities $26.48K
YoY Change -55.87%
Total Long-Term Liabilities $176.5K
YoY Change 194.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.235M
Total Long-Term Liabilities $176.5K
Total Liabilities $2.262M
YoY Change 6.77%
SHAREHOLDERS EQUITY
Retained Earnings -$77.89M
YoY Change 2.18%
Common Stock $249.6K
YoY Change 3.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.111M
YoY Change
Total Liabilities & Shareholders Equity $150.6K
YoY Change -55.12%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$303.7K
YoY Change -37.48%
Depreciation, Depletion And Amortization $1.010K
YoY Change
Cash From Operating Activities -$319.8K
YoY Change -46.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 344.8K
YoY Change -37.31%
NET CHANGE
Cash From Operating Activities -319.8K
Cash From Investing Activities 0.000
Cash From Financing Activities 344.8K
Net Change In Cash 25.02K
YoY Change -150.04%
FREE CASH FLOW
Cash From Operating Activities -$319.8K
Capital Expenditures
Free Cash Flow
YoY Change

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IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
ueec Amortization Of Deferred Offering Cost
AmortizationOfDeferredOfferingCost
21051 usd
ueec Amortization Of Deferred Offering Cost
AmortizationOfDeferredOfferingCost
164527 usd
ueec Initial Recognition Of Operating Lease Right Of Use Asset And Operating Lease Liability
InitialRecognitionOfOperatingLeaseRightOfUseAssetAndOperatingLeaseLiability
0 usd
ueec Initial Recognition Of Operating Lease Right Of Use Asset And Operating Lease Liability
InitialRecognitionOfOperatingLeaseRightOfUseAssetAndOperatingLeaseLiability
92425 usd
ueec Common Stock Issued To Settle Accrued Liabilities Related Party Non Cash
CommonStockIssuedToSettleAccruedLiabilitiesRelatedPartyNonCash
0 usd
ueec Common Stock Issued To Settle Accrued Liabilities Related Party Non Cash
CommonStockIssuedToSettleAccruedLiabilitiesRelatedPartyNonCash
218250 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10000 usd
ueec Common Stock Issued To Settle Accrued Liabilities Non Cash
CommonStockIssuedToSettleAccruedLiabilitiesNonCash
0 usd
ueec Common Stock Issued To Settle Accrued Liabilities Non Cash
CommonStockIssuedToSettleAccruedLiabilitiesNonCash
126000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reported period. Changes in the economic environment, financial markets, as well as in the healthcare industry, and any other parameters used in determining these estimates, could cause actual results to differ.</p>
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
0 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
33598 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
0 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
33598 usd
ueec Impaired And Written Off
ImpairedAndWrittenOff
33598 usd
ueec Impaired And Written Off
ImpairedAndWrittenOff
0 usd
ueec Description Of Patent
DescriptionOfPatent
straight-line basis over the estimated useful life of 10 years
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11138 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8100 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3038 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3038 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1012 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4050 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4050 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4050 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4050 usd
CY2024Q3 ueec Finite Lived Intangible Assets Amortization Expense Year Four Thareafter
FiniteLivedIntangibleAssetsAmortizationExpenseYearFourThareafter
12150 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29362 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
84616 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
84320 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
247157 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
445550 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">Certain accounts from prior periods have been reclassified to conform to the current period presentation. </p>
CY2022 ueec Maturity Of Convertible Notes Payable
MaturityOfConvertibleNotesPayable
December 31, 2023
ueec Debt Discount
DebtDiscount
28000 usd
CY2024Q3 us-gaap Accounts Payable Interest Bearing Current
AccountsPayableInterestBearingCurrent
123822 usd
CY2023Q4 us-gaap Accounts Payable Interest Bearing Current
AccountsPayableInterestBearingCurrent
77287 usd
CY2022 ueec Convertible Note Interest Rate
ConvertibleNoteInterestRate
0.10 pure
CY2022 ueec Original Issue Discount Rate
OriginalIssueDiscountRate
0.07 pure
CY2022Q4 us-gaap Share Price
SharePrice
0.35
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 usd
CY2024Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
272250 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
134750 usd
CY2022 ueec Issuance Of Convertible Note
IssuanceOfConvertibleNote
100000 usd
CY2022Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
107500 usd
CY2022 ueec Proceeds From Convertible Note Debt
ProceedsFromConvertibleNoteDebt
192975 usd
CY2022 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.10 pure
CY2022 ueec Original Issue Discount Rate
OriginalIssueDiscountRate
0.07 pure
CY2022 ueec Convertible Note Common Stock
ConvertibleNoteCommonStock
0.35
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
14525 usd
CY2024Q3 ueec Debt Unamortized Discount
DebtUnamortizedDiscount
0 usd
CY2023Q4 ueec Debt Unamortized Discount
DebtUnamortizedDiscount
0 usd
CY2024Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
7613 usd
CY2024Q3 ueec Investment Income Amortization Discount
InvestmentIncomeAmortizationDiscount
0 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
8135 usd
CY2023Q3 ueec Investment Income Amortization Discount
InvestmentIncomeAmortizationDiscount
2811 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
22839 usd
CY2024Q3 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
0 usd
ueec Investment Income Amortization Discount
InvestmentIncomeAmortizationDiscount
24541 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
8569 usd
CY2024Q3 us-gaap Interest Payable Current
InterestPayableCurrent
49588 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
26749 usd
CY2024Q3 us-gaap Notes Payable
NotesPayable
150000 usd
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
1 pure
CY2024Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
150000 usd
ueec Common Stock Issued For Litigation Settlement
CommonStockIssuedForLitigationSettlement
1850000 shares
ueec Stock Issued For Litigation Settlement
StockIssuedForLitigationSettlement
462500 usd
ueec Common Stock Purchase Agreement Description
CommonStockPurchaseAgreementDescription
On June 20, 2024, the Company and White Lion amended the CSPA (the “Second Amendment”) to provide that the purchase price to be paid by White Lion for shares of the Company’s common stock pursuant to the CSPA equals the lower of: (i) 93% of the volume-weighted average price of the Company’s common stock during a period of five consecutive trading days following the Company’s exercise of its right to sell shares (or 95% of that volume-weighted average price if the Company’s common stock is trading on a national exchange), or (ii) the closing price of the common stock on the day the Company exercises its right to sell shares, subject to a floor price of $0.25 per share. The Second Amendment further provides that if the Company issues a share price purchase notice at a time that the Company’s common stock is trading below the floor price and White Lion waives the floor price condition, the purchase price to be paid by White Lion for such shares shall equal 90% multiplied by the
CY2024Q2 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
25313630 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
47665000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
47665000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.54
CY2024Q3 ueec Cash Payment
CashPayment
55532 usd
ueec Disgorgement Obligation
DisgorgementObligation
171000 usd
us-gaap Litigation Settlement Gain
LitigationSettlementGain
115085 usd
us-gaap Other Income
OtherIncome
115085 usd
ueec Leases Description Of Security Deposite And Monthly Payments
LeasesDescriptionOfSecurityDepositeAndMonthlyPayments
In May 2023, the Company entered into 36-month operating lease, which provides for approximately 1,800 square feet of office space, that commenced on June 1, 2023 and ends on May 31, 2026
us-gaap Increase Decrease In Time Deposits
IncreaseDecreaseInTimeDeposits
2850 usd
ueec Lease Expiration Description
LeaseExpirationDescription
at least ninety (90) days prior to the expiration date. The lease may be renewed for a term of one (1) year
ueec Initial Recognition Of Operating Lease Right Of Use Asset And Operating Lease Liability Non Cash
InitialRecognitionOfOperatingLeaseRightOfUseAssetAndOperatingLeaseLiabilityNonCash
92425 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
26232 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
11746 usd
ueec Cash Paid For Lease Liabilities
CashPaidForLeaseLiabilities
25650 usd
ueec Cash Paid For Lease Liabilities
CashPaidForLeaseLiabilities
11400 usd
ueec Weighted Average Remaining Lease Term Years
WeightedAverageRemainingLeaseTermYears
P1Y8M1D
ueec Weighted Average Remaining Lease Term Years
WeightedAverageRemainingLeaseTermYears
P2Y8M1D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2024Q3 ueec Remaining Operating Lease Right Of Use Asset
RemainingOperatingLeaseRightOfUseAsset
54726 usd
CY2023Q4 ueec Remaining Operating Lease Right Of Use Asset
RemainingOperatingLeaseRightOfUseAsset
76520 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
29640 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
28838 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
26475 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
48489 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
56115 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
77327 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8891 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
36394 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15410 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
60695 usd
CY2024Q3 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
4580 usd

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