$WULF
TERAWULF INC.

2019 Q1 Form 10-Q Financial Statement

#000143774919009600 Filed on May 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $3.529M $4.071M
YoY Change -13.33% 12.16%
Cost Of Revenue $2.520M $2.709M
YoY Change -6.99% 6.66%
Gross Profit $1.009M $1.362M
YoY Change -25.93% 24.99%
Gross Profit Margin 28.6% 33.46%
Selling, General & Admin $1.382M $1.349M
YoY Change 2.44% -10.66%
% of Gross Profit 136.95% 99.01%
Research & Development $178.8K $154.1K
YoY Change 16.07% -9.37%
% of Gross Profit 17.72% 11.31%
Depreciation & Amortization $162.0K $199.9K
YoY Change -18.95% -9.13%
% of Gross Profit 16.06% 14.67%
Operating Expenses $1.561M $1.503M
YoY Change 3.84% -10.53%
Operating Profit -$551.7K -$140.6K
YoY Change 292.27% -76.16%
Interest Expense $22.28K $19.94K
YoY Change 11.74% -199.68%
% of Operating Profit
Other Income/Expense, Net $20.00K $10.00K
YoY Change 100.0% 0.0%
Pretax Income -$557.8K -$151.2K
YoY Change 269.01% -74.81%
Income Tax -$102.7K -$20.42K
% Of Pretax Income
Net Earnings -$455.0K -$130.7K
YoY Change 248.05% -65.6%
Net Earnings / Revenue -12.9% -3.21%
Basic Earnings Per Share -$0.23 -$0.07
Diluted Earnings Per Share -$0.23 -$0.07
COMMON SHARES
Basic Shares Outstanding 1.984M 1.984M
Diluted Shares Outstanding 1.984M 1.984M

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.600M $3.800M
YoY Change -5.26% -2.56%
Cash & Equivalents $617.2K $1.162M
Short-Term Investments $2.900M $2.700M
Other Short-Term Assets $300.0K $200.0K
YoY Change 50.0% -50.0%
Inventory $2.840M $2.400M
Prepaid Expenses
Receivables $1.821M $2.000M
Other Receivables $100.0K $100.0K
Total Short-Term Assets $8.592M $8.500M
YoY Change 1.08% -3.41%
LONG-TERM ASSETS
Property, Plant & Equipment $8.035M $8.200M
YoY Change -2.01% -6.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $8.408M $8.500M
YoY Change -1.09% -6.59%
TOTAL ASSETS
Total Short-Term Assets $8.592M $8.500M
Total Long-Term Assets $8.408M $8.500M
Total Assets $17.00M $17.00M
YoY Change 0.0% -5.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.0K $600.0K
YoY Change 50.0% -25.0%
Accrued Expenses $400.0K $300.0K
YoY Change 33.33% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $129.6K $100.0K
YoY Change 29.58% 0.0%
Total Short-Term Liabilities $1.370M $1.100M
YoY Change 24.51% -15.38%
LONG-TERM LIABILITIES
Long-Term Debt $2.789M $2.900M
YoY Change -3.84% -3.33%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.972M $2.900M
YoY Change 2.47% -3.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.370M $1.100M
Total Long-Term Liabilities $2.972M $2.900M
Total Liabilities $4.341M $4.200M
YoY Change 3.37% -12.5%
SHAREHOLDERS EQUITY
Retained Earnings $9.735M
YoY Change
Common Stock $2.923M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.66M $12.83M
YoY Change
Total Liabilities & Shareholders Equity $17.00M $17.00M
YoY Change 0.0% -5.03%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$455.0K -$130.7K
YoY Change 248.05% -65.6%
Depreciation, Depletion And Amortization $162.0K $199.9K
YoY Change -18.95% -9.13%
Cash From Operating Activities -$618.0K $112.7K
YoY Change -648.37% -145.08%
INVESTING ACTIVITIES
Capital Expenditures $117.1K $49.00K
YoY Change 138.91% -29.99%
Acquisitions
YoY Change
Other Investing Activities -$230.0K $220.0K
YoY Change -204.55% -344.44%
Cash From Investing Activities -$352.5K $155.4K
YoY Change -326.78% -197.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $35.42K $35.63K
YoY Change -0.6%
Cash From Financing Activities -35.42K -35.63K
YoY Change -0.6% 18.77%
NET CHANGE
Cash From Operating Activities -618.0K 112.7K
Cash From Investing Activities -352.5K 155.4K
Cash From Financing Activities -35.42K -35.63K
Net Change In Cash -1.006M 232.5K
YoY Change -532.66% -152.84%
FREE CASH FLOW
Cash From Operating Activities -$618.0K $112.7K
Capital Expenditures $117.1K $49.00K
Free Cash Flow -$735.1K $63.69K
YoY Change -1254.1% -119.9%

Facts In Submission

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18000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
18000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.22
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.22
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2019Q1 us-gaap Short Term Investments
ShortTermInvestments
2940000
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
2695000
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
12657919
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
13111030
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
12957931
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
12830086
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1983553
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1983553
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1983553

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