$WTER
ALKALINE WATER Co INC

2023 Q2 Form 10-Q Financial Statement

#000106299323018414 Filed on September 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q2
Revenue $14.93M
YoY Change -11.61%
Cost Of Revenue $11.16M
YoY Change -16.7%
Gross Profit $3.772M
YoY Change 7.92%
Gross Profit Margin 25.26%
Selling, General & Admin $6.189M
YoY Change -36.76%
% of Gross Profit 164.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $253.5K
YoY Change 35.26%
% of Gross Profit 6.72%
Operating Expenses $6.189M
YoY Change -36.76%
Operating Profit -$2.417M
YoY Change -61.58%
Interest Expense $423.8K
YoY Change -64.75%
% of Operating Profit
Other Income/Expense, Net -$423.8K
YoY Change -64.75%
Pretax Income -$2.840M
YoY Change -62.1%
Income Tax
% Of Pretax Income
Net Earnings -$2.841M
YoY Change -62.09%
Net Earnings / Revenue -19.02%
Basic Earnings Per Share -$0.28
Diluted Earnings Per Share -$0.28
COMMON SHARES
Basic Shares Outstanding 10.29M shares
Diluted Shares Outstanding 10.29M shares

Balance Sheet

Concept 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $410.0K
YoY Change -86.08%
Cash & Equivalents $414.6K
Short-Term Investments
Other Short-Term Assets $2.370M
YoY Change -47.92%
Inventory $5.544M
Prepaid Expenses
Receivables $5.060M
Other Receivables $0.00
Total Short-Term Assets $13.38M
YoY Change -49.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.805M
YoY Change -3.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.820M
YoY Change -7.33%
TOTAL ASSETS
Total Short-Term Assets $13.38M
Total Long-Term Assets $1.820M
Total Assets $15.20M
YoY Change -46.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.61M
YoY Change 5.65%
Accrued Expenses $2.407M
YoY Change -59.53%
Deferred Revenue
YoY Change
Short-Term Debt $8.160M
YoY Change -16.29%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.26M
YoY Change -16.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $20.00K
YoY Change -81.26%
Total Long-Term Liabilities $20.00K
YoY Change -81.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.26M
Total Long-Term Liabilities $20.00K
Total Liabilities $23.28M
YoY Change -16.67%
SHAREHOLDERS EQUITY
Retained Earnings -$140.0M
YoY Change 19.64%
Common Stock $10.40K
YoY Change -91.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.075M
YoY Change
Total Liabilities & Shareholders Equity $15.20M
YoY Change -46.77%

Cashflow Statement

Concept 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.841M
YoY Change -62.09%
Depreciation, Depletion And Amortization $253.5K
YoY Change 35.26%
Cash From Operating Activities -$409.0K
YoY Change -83.61%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$215.1K
YoY Change -104.51%
NET CHANGE
Cash From Operating Activities -$409.0K
Cash From Investing Activities $0.00
Cash From Financing Activities -$215.1K
Net Change In Cash -$624.1K
YoY Change -144.11%
FREE CASH FLOW
Cash From Operating Activities -$409.0K
Capital Expenditures $0.00
Free Cash Flow -$409.0K
YoY Change -87.79%

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<div> <p style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Use of Estimates</span></span></span></p> <p style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.</span></span></p> </div>
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11083 usd
CY2023Q2 wter Preferred Stock Series E Amortization Of Discount
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Stock Split
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253515 usd
CY2022Q2 us-gaap Depreciation
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CY2023Q2 wter Non Cash Interest Expense
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CY2022Q2 wter Non Cash Interest Expense
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215164 usd
CY2023Q2 us-gaap Income Taxes Paid Net
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CY2023Q2 us-gaap Preferred Stock Shares Authorized
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3813376 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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16318786 usd
CY2023Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Concentration Risks</span></span></span></p> <p style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company has 1 major customer that account for 14% of accounts receivable at June 30, 2023, and 3 customers that together account for 37% (15%, 12% and 10%, respectively) of the total revenues earned for the quarter ended June 30, 2023. The Company has 1 vendors that account for 24% of purchases for the quarter ended June 30, 2023.</span></span></p> <p style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company had 2 major customers that accounted for 25% (13% and 12% respectively) of accounts receivable at June 30, 2022, and 2 customers that together accounted for 31% (18% and 13%, respectively) of the total revenues earned for the quarter ended June 30, 2022. The Company had 2 vendors that accounted for 48% (31%, and 17% respectively) of purchases for the quarter ended June 30, 2022.</span></span></p> </div>
CY2022Q2 us-gaap Selling And Marketing Expense
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CY2023Q2 us-gaap Property Plant And Equipment Net
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CY2013Q4 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2021Q2 wter Aggregate Cash Payments
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CY2023Q2 wter Aggregate Cash Payments For Fiscal Year Two
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CY2022 us-gaap Allocated Share Based Compensation Expense
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2227030 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
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2227030 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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556757 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
556757 usd
CY2023Q2 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
fifteen for one
CY2023Q2 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 wter Stock Issued For Vesting Of Restricted Stock Awards
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1443 shares
CY2023Q2 wter Stock Issued For Vesting Of Restricted Stock Awards
StockIssuedForVestingOfRestrictedStockAwards
59995 shares
CY2020Q4 wter Lease Rate For Extension
LeaseRateForExtension
10385 usd
CY2023Q2 wter Operating Lease Right Of Use Asset Current
OperatingLeaseRightOfUseAssetCurrent
80289 usd
CY2023Q2 wter Operating Lease Right Of Use Asset Non Current
OperatingLeaseRightOfUseAssetNonCurrent
15184 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
110446 usd

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