2022 Q3 Form 10-Q Financial Statement
#000121390022047878 Filed on August 15, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $986.9K | $992.4K | $1.031M |
YoY Change | -13.28% | -9.44% | -10.35% |
Cost Of Revenue | $693.4K | $623.6K | $697.6K |
YoY Change | -3.97% | -15.24% | 1.11% |
Gross Profit | $293.6K | $368.9K | $333.3K |
YoY Change | -29.44% | 2.42% | -25.93% |
Gross Profit Margin | 29.75% | 37.17% | 32.33% |
Selling, General & Admin | $832.7K | $932.2K | $1.099M |
YoY Change | -39.57% | -41.94% | -8.38% |
% of Gross Profit | 283.62% | 252.73% | 329.86% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | -100.0% |
% of Gross Profit | 0.0% | 0.0% | 0.0% |
Operating Expenses | $1.526M | $1.556M | $1.099M |
YoY Change | 10.75% | -33.55% | -9.14% |
Operating Profit | -$539.1K | -$563.4K | -$766.1K |
YoY Change | -43.95% | -54.77% | 0.81% |
Interest Expense | $32.76K | ||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $139.6K | $139.6K | |
YoY Change | |||
Pretax Income | -$399.5K | -$563.4K | -$626.6K |
YoY Change | -58.46% | -54.77% | -16.46% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$399.5K | -$563.4K | -$626.6K |
YoY Change | -58.46% | -54.77% | -16.46% |
Net Earnings / Revenue | -40.48% | -56.77% | -60.77% |
Basic Earnings Per Share | -$0.03 | -$0.05 | -$0.06 |
Diluted Earnings Per Share | -$0.03 | -$0.05 | -$55.28K |
COMMON SHARES | |||
Basic Shares Outstanding | 11.74M shares | 11.44M shares | 11.38M shares |
Diluted Shares Outstanding | 12.07M shares | 11.44M shares | 11.33M shares |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $361.7K | $23.49K | $8.290K |
YoY Change | -9.93% | -26.75% | -90.79% |
Cash & Equivalents | $361.7K | $23.49K | $8.293K |
Short-Term Investments | |||
Other Short-Term Assets | $323.0K | $327.9K | $119.6K |
YoY Change | 243.87% | 153.95% | -8.04% |
Inventory | $44.50K | $156.6K | |
Prepaid Expenses | |||
Receivables | $231.9K | $302.6K | $697.2K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $916.6K | $698.5K | $981.6K |
YoY Change | -22.9% | -31.35% | -55.98% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Goodwill | $8.366M | $8.366M | |
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $8.366M | $8.366M | $8.366M |
YoY Change | -0.03% | -0.04% | -0.16% |
TOTAL ASSETS | |||
Total Short-Term Assets | $916.6K | $698.5K | $981.6K |
Total Long-Term Assets | $8.366M | $8.366M | $8.366M |
Total Assets | $9.283M | $9.065M | $9.348M |
YoY Change | -2.87% | -3.44% | -11.89% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $600.0K | $600.0K | $1.854M |
YoY Change | -75.96% | -76.51% | -0.88% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.329M | $2.625M | $2.843M |
YoY Change | -29.78% | -27.09% | -35.97% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $154.4K | $294.0K | $294.0K |
YoY Change | -64.39% | -32.2% | -31.63% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $154.4K | $294.0K | $294.0K |
YoY Change | -64.39% | -32.2% | -31.63% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.329M | $2.625M | $2.843M |
Total Long-Term Liabilities | $154.4K | $294.0K | $294.0K |
Total Liabilities | $2.484M | $2.919M | $3.137M |
YoY Change | -33.79% | -27.63% | -35.58% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$25.60M | -$25.20M | |
YoY Change | |||
Common Stock | $13.01K | $11.73K | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $6.799M | $6.146M | $6.211M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.283M | $9.065M | $9.348M |
YoY Change | -2.87% | -3.44% | -11.89% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$399.5K | -$563.4K | -$626.6K |
YoY Change | -58.46% | -54.77% | -16.46% |
Depreciation, Depletion And Amortization | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | -100.0% |
Cash From Operating Activities | -$386.8K | $15.20K | -$62.78K |
YoY Change | 51.41% | -128.17% | -85.4% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cash From Investing Activities | $0.00 | $0.00 | |
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 | 725.1K | 0.000 | |
YoY Change | 16.01% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -386.8K | 15.20K | -62.78K |
Cash From Investing Activities | 0.000 | 0.000 | |
Cash From Financing Activities | 725.1K | 0.000 | |
Net Change In Cash | 338.2K | 15.20K | $0.00 |
YoY Change | -8.47% | -127.97% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$386.8K | $15.20K | -$62.78K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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---|---|---|---|---|
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Document Type
DocumentType
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|
2022-06-30 | ||
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2022 | ||
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false | ||
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EntityFileNumber
|
001-37899 | ||
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Entity Registrant Name
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|
SCWORX CORP. | ||
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Entity Incorporation State Country Code
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DE | ||
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Entity Tax Identification Number
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47-5412331 | ||
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590 Madison Avenue | ||
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21st Floor | ||
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NY | ||
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New York | ||
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10022 | ||
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(844) | ||
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472-9679 | ||
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Common stock, $0.001 par value per share | ||
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WORX | ||
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NASDAQ | ||
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Yes | ||
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139595 | usd | |
us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
645549 | usd | |
us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
1230362 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
78125 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
104501 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-84135 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-123451 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
63961 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
41491 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-475000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
309722 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-374774 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
116250 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-241500 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-47584 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-483950 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
139595 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-47584 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-344355 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71075 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
376425 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
23491 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
32070 | usd |
worx |
Shares Issued For Equity Financings
SharesIssuedForEquityFinancings
|
250000 | usd | |
worx |
Commitment Shares Issued In Conjunction With Capital Raise
CommitmentSharesIssuedInConjunctionWithCapitalRaise
|
200000 | usd | |
worx |
Shares Issued For Vested Restricted Stock Units
SharesIssuedForVestedRestrictedStockUnits
|
72 | usd | |
worx |
Shares Issued For Vested Restricted Stock Units
SharesIssuedForVestedRestrictedStockUnits
|
272 | usd | |
CY2022Q2 | worx |
Acquired Technology Predecessor Cost
AcquiredTechnologyPredecessorCost
|
0 | usd |
CY2022Q2 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
250000 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit and Other Risks</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, accounts receivable and warrants. The Company believes that any concentration of credit risk in its accounts receivable is substantially mitigated by the Company’s evaluation process, relatively short collection terms and the high level of credit worthiness of its customers. The Company performs ongoing internal credit evaluations of its customers’ financial condition, obtains deposits and limits the amount of credit extended when deemed necessary but generally requires no collateral.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Significant customers are those which represent more than 10% of the Company’s revenue for each period presented, or the Company’s accounts receivable balance as of each respective balance sheet date. For each significant customer, revenue as a percentage of total revenue and accounts receivable as a percentage of total net accounts receivable are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="text-align: center; font-weight: bold">Revenue</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center"> </td> <td colspan="6" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="text-align: center; font-weight: bold">For the six months ended</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="text-align: center; font-weight: bold">Accounts Receivable</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">June 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">June 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left; font-weight: bold">Customers</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Customer A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">13</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">7</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">13</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Customer B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Customer D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-137; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-138; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-139; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> | ||
CY2022Q2 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.10 | pure |
CY2022Q2 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
499861 | usd |
CY2021Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
421736 | usd |
CY2022Q2 | worx |
Gowns In Inventory
GownsInInventory
|
87000 | usd |
CY2021Q4 | us-gaap |
Other Inventory
OtherInventory
|
366840 | usd |
CY2022Q2 | us-gaap |
Other Inventory
OtherInventory
|
112100 | usd |
CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
|
523440 | usd |
CY2021Q4 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
|
523440 | usd |
CY2022Q2 | worx |
Allowance For Obsolescence
AllowanceForObsolescence
|
478940 | usd |
CY2021Q4 | worx |
Allowance For Obsolescence
AllowanceForObsolescence
|
366840 | usd |
CY2022Q2 | us-gaap |
Inventory Net
InventoryNet
|
44500 | usd |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
156600 | usd |
CY2021Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1865 | usd |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
72548 | usd | |
us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
589000 | usd | |
CY2021 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
472750 | usd |
CY2022Q2 | worx |
Contract Liabilities
ContractLiabilities
|
589000 | usd |
CY2021Q4 | worx |
Contract Liabilities
ContractLiabilities
|
472750 | usd |
CY2021Q2 | worx |
Operating Leases Cost
OperatingLeasesCost
|
-6907 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. The Company regularly evaluates estimates and assumptions related to the allowance for doubtful accounts, the estimated useful lives and recoverability of long-lived assets, stock-based compensation, goodwill, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors 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 and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Actual results could differ materially from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | ||
CY2020Q2 | worx |
Cares Act Description
CARESActDescription
|
The CARES Act was established in order to enable small businesses to pay employees during the economic slowdown caused by COVID-19 by providing forgivable loans to qualifying businesses for up to 2.5 times their average monthly payroll costs. The amount borrowed under the CARES Act and used for payroll costs, rent, mortgage interest, and utility costs during the 24 week period after the date of loan disbursement is eligible to be forgiven provided that (a) the Company uses the PPP Funds during the eight week period after receipt thereof, and (b) the PPP Funds are only used to cover payroll costs (including benefits), rent, mortgage interest, and utility costs. While the full loan amount may be forgiven, the amount of loan forgiveness will be reduced if, among other reasons, the Company does not maintain staffing or payroll levels or less than 60% of the loan proceeds are used for payroll costs. | |
CY2020Q2 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.01 | pure |
CY2020Q2 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P2Y | |
CY2021Q1 | worx |
Finance Leases Liability
FinanceLeasesLiability
|
139595 | usd |
CY2021Q1 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.01 | pure |
CY2021Q1 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P2Y | |
CY2022Q2 | worx |
Operating Lease Liabilities
OperatingLeaseLiabilities
|
0 | usd |
CY2021Q4 | worx |
Operating Lease Liabilities
OperatingLeaseLiabilities
|
0 | usd |
CY2022Q2 | worx |
Operating Leases Cost
OperatingLeasesCost
|
434 | usd |
worx |
Share Based Compensation Common Stock
ShareBasedCompensationCommonStock
|
1230362 | usd | |
worx |
Operating Leases Cost
OperatingLeasesCost
|
921 | usd | |
worx |
Operating Leases Cost
OperatingLeasesCost
|
13807 | usd | |
CY2022Q2 | worx |
Total Leases Cost
TotalLeasesCost
|
434 | usd |
CY2021Q2 | worx |
Total Leases Cost
TotalLeasesCost
|
-6907 | usd |
worx |
Total Leases Cost
TotalLeasesCost
|
921 | usd | |
worx |
Total Leases Cost
TotalLeasesCost
|
13807 | usd | |
CY2022Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
434 | usd |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
921 | usd | |
CY2022Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
100000 | shares |
CY2022Q1 | us-gaap |
Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
|
600000 | usd |
CY2022Q1 | us-gaap |
Retention Payable
RetentionPayable
|
700000 | usd |
CY2022Q2 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
190000 | usd |
CY2022Q2 | worx |
Penalty Payment
PenaltyPayment
|
125000 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid
DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid
|
471000 | usd |
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
32761.56 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
600000 | usd |
CY2022Q1 | worx |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested Restricted Units
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedRestrictedUnits
|
71666 | shares |
CY2022Q2 | worx |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested Restricted Units
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedRestrictedUnits
|
71666 | shares |
CY2022Q1 | worx |
Shares Issued As Settlement Of Accounts Payable1
SharesIssuedAsSettlementOfAccountsPayable1
|
12196 | usd |
CY2022Q1 | worx |
Accounts Payable Current1
AccountsPayableCurrent1
|
10000 | usd |
CY2022Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
0.82 | |
CY2022Q1 | us-gaap |
Payments For Legal Settlements
PaymentsForLegalSettlements
|
75000 | usd |
CY2022Q1 | us-gaap |
Payments For Legal Settlements
PaymentsForLegalSettlements
|
75000 | usd |
CY2022Q2 | us-gaap |
Shares Issued
SharesIssued
|
277778 | shares |
CY2022Q2 | us-gaap |
Equity Fair Value Adjustment
EquityFairValueAdjustment
|
200000 | usd |
CY2022Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.72 | |
CY2020Q2 | us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
the Company received $515,000 of a committed $565,000 from the sale of 135,527 shares of common stock (at a price of $3.80 per share) and warrants to purchase 169,409 shares of common stock, at an exercise price of $4.00 per share. As of June 30, 2022, $415,000 worth of the shares and warrants have been issued. | |
CY2022Q2 | worx |
Equity Financing Current
EquityFinancingCurrent
|
125000 | usd |
CY2022Q2 | worx |
Share Based Compensation Total
ShareBasedCompensationTotal
|
297981 | usd |
CY2021Q2 | worx |
Share Based Compensation Total
ShareBasedCompensationTotal
|
729644 | usd |
worx |
Share Based Compensation Total
ShareBasedCompensationTotal
|
645549 | usd | |
us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
800000 | usd | |
CY2021 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
1000000 | usd |
CY2022Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
297981 | usd |
CY2021Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
729644 | usd |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
645549 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1230362 | usd | |
CY2022Q2 | worx |
Share Based Compensation Common Stock
ShareBasedCompensationCommonStock
|
297981 | usd |
CY2021Q2 | worx |
Share Based Compensation Common Stock
ShareBasedCompensationCommonStock
|
729644 | usd |
worx |
Share Based Compensation Common Stock
ShareBasedCompensationCommonStock
|
645549 | usd | |
worx |
Share Based Compensation Total
ShareBasedCompensationTotal
|
1230362 | usd | |
CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1161913 | shares |
CY2021Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
881308 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1161913 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
881308 | shares | |
CY2022Q2 | us-gaap |
Due From Officers Or Stockholders
DueFromOfficersOrStockholders
|
153838 | usd |
CY2021Q4 | us-gaap |
Due From Officers Or Stockholders
DueFromOfficersOrStockholders
|
153838 | usd |
CY2021Q3 | us-gaap |
Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
|
100000 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
11332 | shares |
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
CY2022Q2 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
usd | |
CY2022Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
usd | |
CY2022Q2 | worx |
Shares Issued For Vested Restricted Stock Units One
SharesIssuedForVestedRestrictedStockUnitsOne
|
usd | |
worx |
Shares Issued For Vested Restricted Stock Units One
SharesIssuedForVestedRestrictedStockUnitsOne
|
usd | ||
CY2021Q2 | worx |
Shares Issued For Vested Restricted Stock Units One
SharesIssuedForVestedRestrictedStockUnitsOne
|
usd | |
CY2022Q2 | worx |
Conversion Of Series A Convertible Preferred Stock Into Common Stock
ConversionOfSeriesAConvertiblePreferredStockIntoCommonStock
|
usd | |
worx |
Conversion Of Series A Convertible Preferred Stock Into Common Stock
ConversionOfSeriesAConvertiblePreferredStockIntoCommonStock
|
usd | ||
us-gaap |
Depreciation
Depreciation
|
usd | ||
worx |
Gain Loss On Settlement Of Accounts Payable
GainLossOnSettlementOfAccountsPayable
|
usd | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | ||
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
usd | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | ||
us-gaap |
Interest Paid
InterestPaid
|
usd | ||
us-gaap |
Interest Paid
InterestPaid
|
usd | ||
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | ||
worx |
Shares Issued For Equity Financings
SharesIssuedForEquityFinancings
|
usd | ||
worx |
Commitment Shares Issued In Conjunction With Capital Raise
CommitmentSharesIssuedInConjunctionWithCapitalRaise
|
usd | ||
CY2021Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
usd | ||
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
||
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
||
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
||
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
||
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
pure | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
pure | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
pure | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
pure | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001674227 |