2023 Q2 Form 10-Q Financial Statement

#000173112223000946 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $8.125M $8.877M $5.886M
YoY Change -4.64% 50.82% 83.5%
Cost Of Revenue $5.864M $5.655M $3.452M
YoY Change 15.61% 63.85% 100.71%
Gross Profit $2.260M $3.222M $2.434M
YoY Change -34.43% 32.35% 63.61%
Gross Profit Margin 27.82% 36.29% 41.36%
Selling, General & Admin $914.4K $1.023M $682.3K
YoY Change 43.39% 49.88% 127.88%
% of Gross Profit 40.45% 31.74% 28.03%
Research & Development $261.5K $702.6K $221.5K
YoY Change 49.58% 217.16%
% of Gross Profit 11.57% 21.81% 9.1%
Depreciation & Amortization $284.6K $218.3K $80.09K
YoY Change 137.5% 172.54% 72.16%
% of Gross Profit 12.59% 6.78% 3.29%
Operating Expenses $5.305M $5.591M $3.483M
YoY Change 35.35% 60.56% 161.23%
Operating Profit -$3.044M -$2.370M -$1.048M
YoY Change 544.99% 126.07% -777.27%
Interest Expense $194.4K $213.0K -$125.3K
YoY Change -613.34% -269.95% 607.79%
% of Operating Profit
Other Income/Expense, Net $1.140M $541.1K -$143.2K
YoY Change -1807.23% -477.93% 527.55%
Pretax Income -$1.904M -$1.828M -$1.191M
YoY Change 253.34% 53.48% -1002.86%
Income Tax
% Of Pretax Income
Net Earnings -$1.904M -$1.828M -$1.191M
YoY Change 253.34% 53.48% -1002.86%
Net Earnings / Revenue -23.43% -20.6% -20.24%
Basic Earnings Per Share -$0.14 -$0.12
Diluted Earnings Per Share -$0.14 -$0.12 -$170.2K
COMMON SHARES
Basic Shares Outstanding 9.520M shares 9.520M shares 7.000M shares
Diluted Shares Outstanding 9.520M shares 9.520M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.28M $23.46M $14.89M
YoY Change 186.88% 57.54% 1258.11%
Cash & Equivalents $26.34M $21.02M $5.061M
Short-Term Investments $1.947M $2.435M $9.828M
Other Short-Term Assets $454.8K $618.6K $1.042M
YoY Change -39.79% -40.62% 684.46%
Inventory $5.576M $4.797M $3.213M
Prepaid Expenses
Receivables $570.1K $625.3K $5.019K
Other Receivables $0.00 $0.00 $286.9K
Total Short-Term Assets $33.94M $28.56M $12.61M
YoY Change 175.47% 126.51% 388.56%
LONG-TERM ASSETS
Property, Plant & Equipment $9.556M $6.154M $3.433M
YoY Change 119.04% 79.26% -4.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $947.8K $942.7K $2.980M
YoY Change -67.88% -68.36%
Other Assets $47.52K $32.52K $25.00K
YoY Change 90.08% 30.08% 0.0%
Total Long-Term Assets $11.64M $8.341M $7.896M
YoY Change 33.85% 5.64% 118.08%
TOTAL ASSETS
Total Short-Term Assets $33.94M $28.56M $12.61M
Total Long-Term Assets $11.64M $8.341M $7.896M
Total Assets $45.58M $36.90M $20.50M
YoY Change 116.85% 79.96% 230.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.465M $2.716M $1.969M
YoY Change 8.97% 37.91% 111.96%
Accrued Expenses $1.192M $629.2K $660.0K
YoY Change 74.51% -4.67% 15.49%
Deferred Revenue $182.3K $5.800K $200.00
YoY Change -65.73% 2800.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $178.7K $16.83K
YoY Change
Total Short-Term Liabilities $4.512M $3.854M $3.123M
YoY Change 13.48% 23.43% 65.12%
LONG-TERM LIABILITIES
Long-Term Debt $3.213M $572.6K $499.9K
YoY Change 542.69% 14.55% -54.89%
Other Long-Term Liabilities $667.2K $793.6K $1.146M
YoY Change -36.33% -30.76% -24.64%
Total Long-Term Liabilities $3.880M $1.366M $1.646M
YoY Change 150.69% -17.0% -37.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.512M $3.854M $3.123M
Total Long-Term Liabilities $3.880M $1.366M $1.646M
Total Liabilities $8.392M $5.220M $4.769M
YoY Change 51.93% 9.47% 5.5%
SHAREHOLDERS EQUITY
Retained Earnings -$9.656M -$8.322M -$3.209M
YoY Change 157.66% 159.33%
Common Stock $9.520K $9.520K $7.000K
YoY Change 36.0% 36.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.27M $27.75M $15.73M
YoY Change
Total Liabilities & Shareholders Equity $45.58M $36.90M $20.50M
YoY Change 116.85% 79.96% 230.63%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.904M -$1.828M -$1.191M
YoY Change 253.34% 53.48% -1002.86%
Depreciation, Depletion And Amortization $284.6K $218.3K $80.09K
YoY Change 137.5% 172.54% 72.16%
Cash From Operating Activities -$1.197M -$2.233M -$1.150M
YoY Change 2470.74% 94.2% -705.42%
INVESTING ACTIVITIES
Capital Expenditures $879.9K $744.0K $728.4K
YoY Change -181.38% 2.15% 64.33%
Acquisitions
YoY Change
Other Investing Activities $467.2K $501.0K $80.52K
YoY Change -76.66% 522.21%
Cash From Investing Activities -$412.7K -$243.0K -$647.9K
YoY Change -144.81% -62.49% 46.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.925M -$2.835K -$116.4K
YoY Change -27535.54% -97.56% -125.42%
NET CHANGE
Cash From Operating Activities -1.197M -$2.233M -$1.150M
Cash From Investing Activities -412.7K -$243.0K -$647.9K
Cash From Financing Activities 6.925M -$2.835K -$116.4K
Net Change In Cash 5.315M -$2.478M -$1.914M
YoY Change 525.88% 29.5% -1035.84%
FREE CASH FLOW
Cash From Operating Activities -$1.197M -$2.233M -$1.150M
Capital Expenditures $879.9K $744.0K $728.4K
Free Cash Flow -$2.077M -$2.977M -$1.878M
YoY Change -300.8% 58.5% 641.28%

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CY2023Q1 us-gaap Concentration Risk Credit Risk
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CY2023Q1 us-gaap Contractual Obligation
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CY2022Q4 tvpc Aggregate Shares
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