2024 Q3 Form 10-Q Financial Statement

#000149315224033059 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $320.5K
YoY Change 149.06%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.361M
YoY Change 30.46%
Operating Profit -$138.0K -$444.7K -$1.041M
YoY Change -57.76% -57.26% 13.78%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$28.89K -$1.586M $47.62K
YoY Change -136.67% -3431.63% -69.16%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$166.9K -$2.031M -$992.9K
YoY Change -32.69% 104.57% 64.01%
Net Earnings / Revenue -309.85%
Basic Earnings Per Share $0.00 -$0.02 -$0.01
Diluted Earnings Per Share $0.00 -$0.02 -$0.01
COMMON SHARES
Basic Shares Outstanding 122.8M shares 117.5M shares 94.25M shares
Diluted Shares Outstanding 125.1M shares 118.2M shares 97.39M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $712.00 $1.307K $8.262K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $9.696K $9.696K
Receivables $45.00K $45.00K $250.8K
Other Receivables
Total Short-Term Assets $45.71K $56.00K $711.0K
YoY Change -95.34% -92.12% 153.05%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.852M
YoY Change -37.89%
TOTAL ASSETS
Total Short-Term Assets $45.71K $56.00K $711.0K
Total Long-Term Assets $2.852M
Total Assets $45.71K $56.00K $3.563M
YoY Change -99.16% -98.43% -26.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.060M $2.943M $1.087M
YoY Change 41.19% 170.86% -7.24%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.060M $2.943M $1.087M
Total Long-Term Liabilities
Total Liabilities $3.060M $2.943M $1.087M
YoY Change 41.19% 170.86% -7.24%
SHAREHOLDERS EQUITY
Retained Earnings -$49.82M -$49.65M -$42.76M
YoY Change 15.84% 16.12% 15.31%
Common Stock $46.96M $46.92M $45.37M
YoY Change 1.23% 3.43% 9.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.853M -$2.726M $2.610M
YoY Change
Total Liabilities & Shareholders Equity $45.71K $56.00K $3.563M
YoY Change -99.16% -98.43% -26.88%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$166.9K -$2.031M -$992.9K
YoY Change -32.69% 104.57% 64.01%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

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25000 usd
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P10Y
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P10Y
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0.0405 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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4.1809 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.864 pure
MWRK Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Dividend Per Share
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CY2023 MWRK Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Dividend Per Share
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0.00
CY2024Q2 us-gaap Operating Loss Carryforwards
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CY2023Q4 us-gaap Operating Loss Carryforwards
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4941970 usd
MWRK Carry Forwards Expire
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expire through the year 2042
us-gaap Income Tax Examination Description
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The Tax Cuts and Jobs Act was enacted on December 22, 2017, which reduced the U.S. corporate statutory tax rate from 35% to 21% beginning on January 1, 2018. We used 21% as an effective federal rate, and 1.5% as an effective state rate.
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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us-gaap Income Tax Reconciliation Other Reconciling Items
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1814062 usd
MWRK Income Loss From Continuing Operations After Income Taxes Domestic
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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-41621 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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200536 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1044177 usd
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2024Q2 us-gaap Deferred Tax Assets Gross
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CY2023Q4 us-gaap Deferred Tax Assets Gross
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CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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4941970 usd
CY2023Q4 us-gaap Minority Interest
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CY2022Q4 us-gaap Minority Interest
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CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2023 us-gaap Noncontrolling Interest Increase From Business Combination
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CY2024Q2 us-gaap Minority Interest
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CY2023Q4 us-gaap Minority Interest
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