2022 Q4 Form 10-Q Financial Statement

#000149315222031358 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $110.5K $168.9K
YoY Change -34.59% 575.48%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.247M
YoY Change 915.38%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.533M $2.828M
YoY Change -45.8% 2173.35%
Operating Profit -$1.422M -$2.659M
YoY Change -46.51%
Interest Expense $5.912M
YoY Change 9636.17%
% of Operating Profit
Other Income/Expense, Net $24.37K $144.4K
YoY Change -83.13%
Pretax Income $3.397M
YoY Change -8890.4%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$1.280M $4.024M
YoY Change -131.82% -13745.88%
Net Earnings / Revenue -1159.09% 2383.0%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.02 $54.09K
COMMON SHARES
Basic Shares Outstanding 78.15M shares 78.04M shares 70.34M shares
Diluted Shares Outstanding 78.07M shares 74.39M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.654M
YoY Change 5490.67%
Cash & Equivalents $34.94K $109.4K $1.654M
Short-Term Investments
Other Short-Term Assets $20.00K
YoY Change -40.03%
Inventory
Prepaid Expenses $24.90K $53.71K
Receivables $167.2K $25.92K $83.86K
Other Receivables $0.00
Total Short-Term Assets $1.025M $189.0K $1.758M
YoY Change 56.45% -89.24% 2693.34%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $463.3K
YoY Change 1158100.0%
Other Assets
YoY Change
Total Long-Term Assets $594.9K $4.515M $4.725M
YoY Change -87.29% -4.45% 11813525.0%
TOTAL ASSETS
Total Short-Term Assets $1.025M $189.0K $1.758M
Total Long-Term Assets $594.9K $4.515M $4.725M
Total Assets $1.620M $4.704M $6.483M
YoY Change -69.64% -27.44% 10197.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.588M $1.642M $1.278M
YoY Change 27.03% 28.48% -19.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $882.7K
YoY Change 284.6%
Total Long-Term Liabilities $882.7K
YoY Change 166.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.588M $1.642M $1.278M
Total Long-Term Liabilities $882.7K
Total Liabilities $1.588M $1.642M $1.548M
YoY Change -7.93% 6.08% -4.1%
SHAREHOLDERS EQUITY
Retained Earnings -$41.43M -$38.36M
YoY Change 17.53%
Common Stock $42.34M $42.20M
YoY Change 6.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $914.1K $3.836M $4.935M
YoY Change
Total Liabilities & Shareholders Equity $1.620M $4.704M $6.483M
YoY Change -69.64% -27.44% 10197.05%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.280M $4.024M
YoY Change -131.82% -13745.88%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.472M
YoY Change 1538.14%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$850.0K
YoY Change
Cash From Investing Activities -$3.850M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.196M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.939M
YoY Change
NET CHANGE
Cash From Operating Activities -1.472M
Cash From Investing Activities -3.850M
Cash From Financing Activities 3.939M
Net Change In Cash -1.383M
YoY Change 1439.22%
FREE CASH FLOW
Cash From Operating Activities -$1.472M
Capital Expenditures -$3.000M
Free Cash Flow $1.528M
YoY Change

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dei Entity Incorporation State Country Code
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<p id="xdx_845_eus-gaap--UseOfEstimates_z5mBShphs7Ne" style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and these differences could be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The most significant estimates made by management in the preparation of the financial statements relate to the estimates used to calculate the fair value of certain liabilities and stock-based compensation, and impairment assessments for investments and long-lived assets. Management bases its estimates on historical experience and on other various assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from such estimates under different assumptions and conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
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CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
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CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q3 us-gaap Finite Lived Intangible Assets Net
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CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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CY2022Q3 us-gaap Investments
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CY2022Q2 MWRK Stock Issued During Period Shares Stock Warrants Expired
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CY2022Q3 us-gaap Warrants And Rights Outstanding
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CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2022Q1 us-gaap Shares Issued Price Per Share
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CY2022Q1 us-gaap Debt Conversion Converted Instrument Amount1
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CY2022Q3 us-gaap Share Price
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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MWRK Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Dividend Per Share
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0.00
MWRK Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Dividend Per Share
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CY2021Q4 us-gaap Minority Interest
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MWRK Stock Issued During Period Value Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q3 us-gaap Minority Interest
MinorityInterest
-774429 usd

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