$VBIX
Viewbix Inc.

2022 Q2 Form 10-Q Financial Statement

#000149315222022628 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $2.000K $1.000K $9.000K
YoY Change -88.24% -87.5%
Cost Of Revenue $0.00
YoY Change
Gross Profit $2.000K $1.000K $9.000K
YoY Change -88.24% -87.5%
Gross Profit Margin 100.0% 100.0% 100.0%
Selling, General & Admin $70.00K $68.00K $83.00K
YoY Change -11.39% 4.62%
% of Gross Profit 3500.0% 6800.0% 922.22%
Research & Development $14.00K $14.00K $17.00K
YoY Change 16.67% -12.5%
% of Gross Profit 700.0% 1400.0% 188.89%
Depreciation & Amortization $1.315M
YoY Change
% of Gross Profit 65750.0%
Operating Expenses $14.00K $95.00K $125.0K
YoY Change 16.67% 17.28%
Operating Profit -$101.0K -$94.00K -$116.0K
YoY Change 36.49% 28.77%
Interest Expense -$67.00K -$75.00K -$14.00K
YoY Change 1575.0% 971.43%
% of Operating Profit
Other Income/Expense, Net $35.00K
YoY Change
Pretax Income -$168.0K -$169.0K -$130.0K
YoY Change 115.38% 111.25%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$168.0K -$169.0K -$130.0K
YoY Change 112.66% 111.25%
Net Earnings / Revenue -8400.0% -16900.0% -1444.44%
Basic Earnings Per Share $0.01 -$0.02
Diluted Earnings Per Share -$4.834K -$4.863K -$3.741K
COMMON SHARES
Basic Shares Outstanding 34.75M shares 14.78M shares
Diluted Shares Outstanding 15.04M shares 15.04M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.00K $57.00K $74.00K
YoY Change -78.57% -57.46%
Cash & Equivalents $27.00K $57.00K $74.00K
Short-Term Investments
Other Short-Term Assets $14.00K $28.00K $44.00K
YoY Change -12.5% 3.7%
Inventory
Prepaid Expenses $14.00K $44.00K
Receivables $9.000K $9.000K $8.000K
Other Receivables $23.00K $21.00K $30.00K
Total Short-Term Assets $73.00K $115.0K $156.0K
YoY Change -61.98% -41.33%
LONG-TERM ASSETS
Property, Plant & Equipment $334.0K
YoY Change
Goodwill $12.48M
YoY Change
Intangibles $8.414M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $73.00K $115.0K $156.0K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $73.00K $115.0K $156.0K
YoY Change -61.98% -41.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.00K $16.00K $9.000K
YoY Change 60.0%
Accrued Expenses $177.0K $192.0K $6.185M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $69.00K $69.00K $69.00K
YoY Change 16.95% 27.78% 38.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.690M $2.564M $2.436M
YoY Change 10.75% 8.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.690M $2.564M $2.436M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.690M $2.564M $2.436M
YoY Change 10.75% 8.92%
SHAREHOLDERS EQUITY
Retained Earnings -$15.88M -$15.54M
YoY Change
Common Stock $13.26M $13.26M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.617M -$2.449M -$2.280M
YoY Change
Total Liabilities & Shareholders Equity $73.00K $115.0K $156.0K
YoY Change -61.98% -41.33%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$168.0K -$169.0K -$130.0K
YoY Change 112.66% 111.25%
Depreciation, Depletion And Amortization $1.315M
YoY Change
Cash From Operating Activities -$30.00K -$1.950M
YoY Change 275.0%
INVESTING ACTIVITIES
Capital Expenditures $6.000K $39.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $353.0K $349.0K
YoY Change
Cash From Financing Activities -$928.0K
YoY Change
NET CHANGE
Cash From Operating Activities -$30.00K -$1.950M
Cash From Investing Activities
Cash From Financing Activities -$928.0K
Net Change In Cash -$30.00K $0.00
YoY Change 275.0%
FREE CASH FLOW
Cash From Operating Activities -$30.00K -$1.950M
Capital Expenditures $6.000K $39.00K
Free Cash Flow -$36.00K -$1.989M
YoY Change

Facts In Submission

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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-2617000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-2237000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-47000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22000 usd
CY2022Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
177000 usd
CY2022Q2 VBIX Government Authorities Current
GovernmentAuthoritiesCurrent
23000 usd
CY2021Q4 VBIX Government Authorities Current
GovernmentAuthoritiesCurrent
30000 usd
CY2022Q2 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
23000 usd
CY2021Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
30000 usd
CY2022Q2 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
47000 usd
CY2021Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
47000 usd
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
195000 usd
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
224000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
242000 usd
CY2022Q2 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
2383000 usd
CY2021Q4 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
2116000 usd
CY2020Q4 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
109000 usd
CY2020Q4 VBIX Percentage Of Fair Value
PercentageOfFairValue
1.0000 pure
CY2020Q4 VBIX Short Term Debt Allocated Amount
ShortTermDebtAllocatedAmount
99000 usd
CY2020Q4 VBIX Short Term Principal Amount
ShortTermPrincipalAmount
69000 usd
CY2020Q4 VBIX Discount On Short Term Loan
DiscountOnShortTermLoan
19000 usd
CY2020Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
50000 usd
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Ordinary shares confer the right to: (i) participate in the general meetings, to one vote per share for any purpose, to an equal part, on share basis, (ii) in distribution of dividends and (iii) to equally participate, on share basis, in distribution of excess of assets and funds from the Company and they shall not confer other privileges unless stated hereunder or in the Companies Law otherwise. Some investors have standard anti-dilutive rights, registration rights, and information and representation rights
VBIX Financing Income Expenses Net
FinancingIncomeExpensesNet
142000 usd
VBIX Financing Income Expenses Net
FinancingIncomeExpensesNet
11000 usd
CY2022Q2 VBIX Financing Income Expenses Net
FinancingIncomeExpensesNet
67000 usd
CY2021Q2 VBIX Financing Income Expenses Net
FinancingIncomeExpensesNet
4000 usd
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which among other provisions, reduced the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018
CY2022Q2 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
149000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
167000 usd
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
33649000 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
33055000 usd
CY2022Q2 VBIX Differences Between Tax Basis And Carrying Values Of Loans
DifferencesBetweenTaxBasisAndCarryingValuesOfLoans
-73000 usd
CY2021Q4 VBIX Differences Between Tax Basis And Carrying Values Of Loans
DifferencesBetweenTaxBasisAndCarryingValuesOfLoans
-184000 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
33725000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
33038000 usd
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7382000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7230000 usd
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7382000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7230000 usd
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7382000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-337000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-158000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-168000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-78000 usd
us-gaap Net Income Loss
NetIncomeLoss
-337000 usd
us-gaap Net Income Loss
NetIncomeLoss
-159000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-168000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-79000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34753669 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34753669 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34753669 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34753669 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.010
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.005
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.005
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.002
CY2022Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
a reverse stock split of the Company’s common Stock at a ratio of 1-for-28 (the “Planned Reverse Split”)

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