$WULF
TERAWULF INC.

2020 Q1 Form 10-Q Financial Statement

#000143774920010584 Filed on May 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $3.497M $3.529M
YoY Change -0.89% -13.33%
Cost Of Revenue $2.344M $2.520M
YoY Change -6.97% -6.99%
Gross Profit $1.153M $1.009M
YoY Change 14.28% -25.93%
Gross Profit Margin 32.98% 28.6%
Selling, General & Admin $1.781M $1.382M
YoY Change 28.88% 2.44%
% of Gross Profit 154.44% 136.95%
Research & Development $183.6K $178.8K
YoY Change 2.65% 16.07%
% of Gross Profit 15.92% 17.72%
Depreciation & Amortization $167.6K $162.0K
YoY Change 3.45% -18.95%
% of Gross Profit 14.54% 16.06%
Operating Expenses $1.965M $1.561M
YoY Change 25.87% 3.84%
Operating Profit -$811.4K -$551.7K
YoY Change 47.07% 292.27%
Interest Expense $21.48K $22.28K
YoY Change -3.55% 11.74%
% of Operating Profit
Other Income/Expense, Net $10.00K $20.00K
YoY Change -50.0% 100.0%
Pretax Income -$825.9K -$557.8K
YoY Change 48.08% 269.01%
Income Tax -$238.9K -$102.7K
% Of Pretax Income
Net Earnings -$587.0K -$455.0K
YoY Change 29.0% 248.05%
Net Earnings / Revenue -16.79% -12.9%
Basic Earnings Per Share -$0.30 -$0.23
Diluted Earnings Per Share -$0.30 -$0.23
COMMON SHARES
Basic Shares Outstanding 1.976M 1.984M
Diluted Shares Outstanding 1.976M 1.984M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.600M $3.600M
YoY Change -27.78% -5.26%
Cash & Equivalents $1.605M $617.2K
Short-Term Investments $1.000M $2.900M
Other Short-Term Assets $300.0K $300.0K
YoY Change 0.0% 50.0%
Inventory $2.589M $2.840M
Prepaid Expenses
Receivables $1.760M $1.821M
Other Receivables $200.0K $100.0K
Total Short-Term Assets $7.508M $8.592M
YoY Change -12.61% 1.08%
LONG-TERM ASSETS
Property, Plant & Equipment $7.868M $8.035M
YoY Change -2.08% -2.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $8.136M $8.408M
YoY Change -3.24% -1.09%
TOTAL ASSETS
Total Short-Term Assets $7.508M $8.592M
Total Long-Term Assets $8.136M $8.408M
Total Assets $15.64M $17.00M
YoY Change -7.97% 0.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $800.0K $900.0K
YoY Change -11.11% 50.0%
Accrued Expenses $400.0K $400.0K
YoY Change 0.0% 33.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $134.6K $129.6K
YoY Change 3.87% 29.58%
Total Short-Term Liabilities $1.317M $1.370M
YoY Change -3.88% 24.51%
LONG-TERM LIABILITIES
Long-Term Debt $2.654M $2.789M
YoY Change -4.83% -3.84%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.654M $2.972M
YoY Change -10.69% 2.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.317M $1.370M
Total Long-Term Liabilities $2.654M $2.972M
Total Liabilities $3.971M $4.341M
YoY Change -8.54% 3.37%
SHAREHOLDERS EQUITY
Retained Earnings $8.750M $9.735M
YoY Change -10.11%
Common Stock $2.923M $2.923M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.67M $12.66M
YoY Change
Total Liabilities & Shareholders Equity $15.64M $17.00M
YoY Change -7.97% 0.0%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$587.0K -$455.0K
YoY Change 29.0% 248.05%
Depreciation, Depletion And Amortization $167.6K $162.0K
YoY Change 3.45% -18.95%
Cash From Operating Activities -$427.3K -$618.0K
YoY Change -30.86% -648.37%
INVESTING ACTIVITIES
Capital Expenditures $135.1K $117.1K
YoY Change 15.42% 138.91%
Acquisitions
YoY Change
Other Investing Activities $1.240M -$230.0K
YoY Change -639.13% -204.55%
Cash From Investing Activities $1.105M -$352.5K
YoY Change -413.43% -326.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $35.68K $35.42K
YoY Change 0.74% -0.6%
Cash From Financing Activities -35.68K -35.42K
YoY Change 0.74% -0.6%
NET CHANGE
Cash From Operating Activities -427.3K -618.0K
Cash From Investing Activities 1.105M -352.5K
Cash From Financing Activities -35.68K -35.42K
Net Change In Cash 641.8K -1.006M
YoY Change -163.8% -532.66%
FREE CASH FLOW
Cash From Operating Activities -$427.3K -$618.0K
Capital Expenditures $135.1K $117.1K
Free Cash Flow -$562.4K -$735.1K
YoY Change -23.49% -1254.1%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.01
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.67
CY2020Q1 us-gaap Short Term Investments
ShortTermInvestments
980000
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
2205000
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
11673380
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
12256698
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
13111030
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
12657919
CY2020Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1976354
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1983553
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1976354
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1983553

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