2021 Form 10-K Financial Statement
#000121465922003917 Filed on March 14, 2022
Income Statement
| Concept | 2021 | 2020 Q4 | 2020 |
|---|---|---|---|
| Revenue | $867.0K | $80.00K | $340.0K |
| YoY Change | 155.0% | -20.0% | 41.67% |
| Cost Of Revenue | $268.0K | $10.00K | $60.00K |
| YoY Change | 346.67% | 0.0% | 20.0% |
| Gross Profit | $599.0K | $60.00K | $280.0K |
| YoY Change | 113.93% | -33.33% | 40.0% |
| Gross Profit Margin | 69.09% | 75.0% | 82.35% |
| Selling, General & Admin | $4.900M | $1.080M | $3.510M |
| YoY Change | 39.6% | 80.0% | 47.48% |
| % of Gross Profit | 818.03% | 1800.0% | 1253.57% |
| Research & Development | $51.00K | $10.00K | $20.00K |
| YoY Change | 155.0% | 100.0% | |
| % of Gross Profit | 8.51% | 16.67% | 7.14% |
| Depreciation & Amortization | $117.0K | $30.00K | $100.0K |
| YoY Change | 17.0% | 200.0% | 233.33% |
| % of Gross Profit | 19.53% | 50.0% | 35.71% |
| Operating Expenses | $5.068M | $1.090M | $3.520M |
| YoY Change | 43.98% | 78.69% | 47.9% |
| Operating Profit | -$4.469M | -$1.030M | -$3.240M |
| YoY Change | 37.93% | 98.08% | 48.62% |
| Interest Expense | $8.373M | $0.00 | -$2.050M |
| YoY Change | -508.44% | -100.0% | 2462.5% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $8.443M | ||
| YoY Change | |||
| Pretax Income | $3.612M | -$1.170M | -$5.900M |
| YoY Change | -161.22% | 88.71% | 135.06% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | $3.612M | -$1.170M | -$5.900M |
| YoY Change | -161.22% | 88.71% | 135.06% |
| Net Earnings / Revenue | 416.61% | -1462.5% | -1735.29% |
| Basic Earnings Per Share | $0.51 | ||
| Diluted Earnings Per Share | $489.2K | -$294.0K | -$1.482M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 7.111M shares | ||
| Diluted Shares Outstanding | 7.383M shares |
Balance Sheet
| Concept | 2021 | 2020 Q4 | 2020 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $9.422M | $7.940M | $7.940M |
| YoY Change | 18.66% | 3076.0% | 3076.0% |
| Cash & Equivalents | $9.422M | $7.939M | $7.940M |
| Short-Term Investments | |||
| Other Short-Term Assets | $240.0K | $180.0K | $180.0K |
| YoY Change | 33.33% | 125.0% | 125.0% |
| Inventory | $52.00K | $54.00K | $50.00K |
| Prepaid Expenses | $177.0K | ||
| Receivables | $297.0K | $31.00K | $30.00K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $10.01M | $8.201M | $8.200M |
| YoY Change | 22.09% | 1722.44% | 1722.22% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $204.0K | $200.0K | $200.0K |
| YoY Change | 2.0% | 11.11% | 11.11% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $10.96M | ||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $11.68M | $573.0K | $570.0K |
| YoY Change | 1948.6% | 16.94% | 16.33% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $10.01M | $8.201M | $8.200M |
| Total Long-Term Assets | $11.68M | $573.0K | $570.0K |
| Total Assets | $21.69M | $8.774M | $8.770M |
| YoY Change | 147.3% | 833.4% | 832.98% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $450.0K | $380.0K | $380.0K |
| YoY Change | 18.42% | -9.52% | -9.52% |
| Accrued Expenses | $0.00 | $0.00 | |
| YoY Change | -100.0% | -100.0% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $450.0K | $383.0K | $380.0K |
| YoY Change | 18.42% | -62.08% | -62.38% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $70.00K | $70.00K |
| YoY Change | -100.0% | ||
| Other Long-Term Liabilities | $71.00K | ||
| YoY Change | |||
| Total Long-Term Liabilities | $71.00K | $72.00K | $70.00K |
| YoY Change | 1.43% | ||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $450.0K | $383.0K | $380.0K |
| Total Long-Term Liabilities | $71.00K | $72.00K | $70.00K |
| Total Liabilities | $521.0K | $455.0K | $460.0K |
| YoY Change | 13.26% | -54.95% | -54.46% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$67.67M | ||
| YoY Change | |||
| Common Stock | $6.000K | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $113.0K | ||
| YoY Change | |||
| Treasury Stock Shares | 7.011K shares | ||
| Shareholders Equity | $21.17M | $8.319M | $8.320M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $21.69M | $8.774M | $8.770M |
| YoY Change | 147.3% | 833.4% | 832.98% |
Cashflow Statement
| Concept | 2021 | 2020 Q4 | 2020 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $3.612M | -$1.170M | -$5.900M |
| YoY Change | -161.22% | 88.71% | 135.06% |
| Depreciation, Depletion And Amortization | $117.0K | $30.00K | $100.0K |
| YoY Change | 17.0% | 200.0% | 233.33% |
| Cash From Operating Activities | -$3.254M | -$980.0K | -$2.280M |
| YoY Change | 42.72% | 345.45% | 44.3% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$213.0K | -$60.00K | -$130.0K |
| YoY Change | 63.85% | -68.42% | -56.67% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$2.638M | $0.00 | -$20.00K |
| YoY Change | 13090.0% | -100.0% | -88.89% |
| Cash From Investing Activities | -$2.851M | -$60.00K | -$130.0K |
| YoY Change | 2093.08% | -68.42% | -56.67% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 7.588M | 0.000 | 10.09M |
| YoY Change | -24.8% | 2093.48% | |
| NET CHANGE | |||
| Cash From Operating Activities | -3.254M | -980.0K | -2.280M |
| Cash From Investing Activities | -2.851M | -60.00K | -130.0K |
| Cash From Financing Activities | 7.588M | 0.000 | 10.09M |
| Net Change In Cash | 1.483M | -1.040M | 7.680M |
| YoY Change | -80.69% | 153.66% | -640.85% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$3.254M | -$980.0K | -$2.280M |
| Capital Expenditures | -$213.0K | -$60.00K | -$130.0K |
| Free Cash Flow | -$3.041M | -$920.0K | -$2.150M |
| YoY Change | 41.44% | 2966.67% | 67.97% |
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