2024 Q3 Form 10-Q Financial Statement

#000121390024070691 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $1.769M $1.910M
YoY Change -7.35% 107.4%
Cost Of Revenue $1.318M $814.4K
YoY Change 61.79% 47.24%
Gross Profit $451.5K $1.095M
YoY Change -58.77% 197.92%
Gross Profit Margin 25.52% 57.35%
Selling, General & Admin $680.8K $452.9K
YoY Change 50.31% -1.64%
% of Gross Profit 150.79% 41.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $680.8K $452.9K
YoY Change 50.31% -1.64%
Operating Profit -$229.3K $642.2K
YoY Change -135.71% -791.37%
Interest Expense $72.34K
YoY Change -623.85%
% of Operating Profit 11.27%
Other Income/Expense, Net $465.1K $286.1K
YoY Change 62.55% 71.73%
Pretax Income $235.8K $928.3K
YoY Change -74.6% 1159.08%
Income Tax $59.77K
% Of Pretax Income 25.35%
Net Earnings $176.1K $928.3K
YoY Change -81.04% 1159.03%
Net Earnings / Revenue 9.95% 48.62%
Basic Earnings Per Share $0.00 $0.01
Diluted Earnings Per Share $0.00 $0.01
COMMON SHARES
Basic Shares Outstanding 88.80M shares 88.80M shares 88.80M shares
Diluted Shares Outstanding 88.80M shares 95.45M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $719.5K
YoY Change 12958.26%
Cash & Equivalents $1.295M $719.5K
Short-Term Investments
Other Short-Term Assets $24.67K $122.8K
YoY Change -79.9% -37.29%
Inventory $666.2K $559.8K
Prepaid Expenses
Receivables $634.8K $441.4K
Other Receivables $59.38K $0.00
Total Short-Term Assets $3.085M $1.981M
YoY Change 55.73% 79.57%
LONG-TERM ASSETS
Property, Plant & Equipment $131.5K
YoY Change -15.4%
Goodwill
YoY Change
Intangibles $28.83K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $133.3K $131.5K
YoY Change 1.35% -15.4%
TOTAL ASSETS
Total Short-Term Assets $3.085M $1.981M
Total Long-Term Assets $133.3K $131.5K
Total Assets $3.219M $2.113M
YoY Change 52.35% 67.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.80K
YoY Change -46.21%
Accrued Expenses $191.3K
YoY Change 440.62%
Deferred Revenue $883.3K
YoY Change
Short-Term Debt $1.727M
YoY Change -23.77%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.998M $2.924M
YoY Change -31.67% 0.44%
LONG-TERM LIABILITIES
Long-Term Debt $442.5K
YoY Change 10.65%
Other Long-Term Liabilities $2.924M
YoY Change 2050.72%
Total Long-Term Liabilities $2.924M
YoY Change 445.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.998M $2.924M
Total Long-Term Liabilities $2.924M
Total Liabilities $2.225M $3.478M
YoY Change -36.01% 0.88%
SHAREHOLDERS EQUITY
Retained Earnings -$7.107M -$9.465M
YoY Change -24.92% -8.0%
Common Stock $8.065M $8.065M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.365M
YoY Change
Total Liabilities & Shareholders Equity $3.219M $2.113M
YoY Change 52.35% 67.84%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income $176.1K $928.3K
YoY Change -81.04% 1159.03%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.008M
YoY Change -521.56%
INVESTING ACTIVITIES
Capital Expenditures
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
YoY Change
Cash From Financing Activities -392.1K
YoY Change -264.35%
NET CHANGE
Cash From Operating Activities 1.008M
Cash From Investing Activities
Cash From Financing Activities -392.1K
Net Change In Cash 616.1K
YoY Change -106320.69%
FREE CASH FLOW
Cash From Operating Activities $1.008M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GAAP requires the Company to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the reported amounts of revenues and expenses, cash flows and the related footnote disclosures during the period. On an on-going basis, the Company reviews and evaluates its estimates and assumptions. Actual results could differ from these estimates.<b><i> </i></b></p>
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CY2023Q2 us-gaap Investment Income Interest
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