$WULF
TERAWULF INC.

2021 Q1 Form 10-Q Financial Statement

#000143774921011912 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.073M $3.497M
YoY Change -12.12% -0.89%
Cost Of Revenue $2.077M $2.344M
YoY Change -11.39% -6.97%
Gross Profit $996.3K $1.153M
YoY Change -13.61% 14.28%
Gross Profit Margin 32.42% 32.98%
Selling, General & Admin $246.0K $1.781M
YoY Change -86.19% 28.88%
% of Gross Profit 24.69% 154.44%
Research & Development $134.9K $183.6K
YoY Change -26.51% 2.65%
% of Gross Profit 13.54% 15.92%
Depreciation & Amortization $160.6K $167.6K
YoY Change -4.21% 3.45%
% of Gross Profit 16.12% 14.54%
Operating Expenses $1.676M $1.965M
YoY Change -14.69% 25.87%
Operating Profit -$1.676M -$811.4K
YoY Change 106.56% 47.07%
Interest Expense $19.84K $21.48K
YoY Change -7.64% -3.55%
% of Operating Profit
Other Income/Expense, Net $40.00 $10.00K
YoY Change -99.6% -50.0%
Pretax Income -$1.676M -$825.9K
YoY Change 102.92% 48.08%
Income Tax -$20.35K -$238.9K
% Of Pretax Income
Net Earnings -$1.676M -$587.0K
YoY Change 185.52% 29.0%
Net Earnings / Revenue -54.53% -16.79%
Basic Earnings Per Share -$0.03 -$0.30
Diluted Earnings Per Share -$0.03 -$0.30
COMMON SHARES
Basic Shares Outstanding 58.82M 1.976M
Diluted Shares Outstanding 58.82M 1.976M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.428M $2.600M
YoY Change 70.32% -27.78%
Cash & Equivalents $6.300M $1.605M
Short-Term Investments $1.000M
Other Short-Term Assets $210.9K $300.0K
YoY Change -29.7% 0.0%
Inventory $1.962M $2.589M
Prepaid Expenses $5.000K
Receivables $1.546M $1.760M
Other Receivables $17.75K $200.0K
Total Short-Term Assets $6.305M $7.508M
YoY Change -16.03% -12.61%
LONG-TERM ASSETS
Property, Plant & Equipment $7.228M $7.868M
YoY Change -8.13% -2.08%
Goodwill
YoY Change
Intangibles $243.8K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $23.70M $8.136M
YoY Change 191.32% -3.24%
TOTAL ASSETS
Total Short-Term Assets $6.305M $7.508M
Total Long-Term Assets $23.70M $8.136M
Total Assets $30.01M $15.64M
YoY Change 91.8% -7.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.00K $800.0K
YoY Change -95.25% -11.11%
Accrued Expenses $547.7K $400.0K
YoY Change 36.92% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.654M $134.6K
YoY Change 1871.9% 3.87%
Total Short-Term Liabilities $1.739M $1.317M
YoY Change 32.09% -3.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $2.654M
YoY Change -100.0% -4.83%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $2.654M
YoY Change -100.0% -10.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.739M $1.317M
Total Long-Term Liabilities $0.00 $2.654M
Total Liabilities $1.739M $3.971M
YoY Change -56.2% -8.54%
SHAREHOLDERS EQUITY
Retained Earnings -$1.676M $8.750M
YoY Change -119.15% -10.11%
Common Stock $2.838M $2.923M
YoY Change -2.93% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $0.00 $11.67M
YoY Change
Total Liabilities & Shareholders Equity $30.01M $15.64M
YoY Change 91.8% -7.97%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$1.676M -$587.0K
YoY Change 185.52% 29.0%
Depreciation, Depletion And Amortization $160.6K $167.6K
YoY Change -4.21% 3.45%
Cash From Operating Activities $771.4K -$427.3K
YoY Change -280.53% -30.86%
INVESTING ACTIVITIES
Capital Expenditures $23.70M $135.1K
YoY Change 17439.32% 15.42%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.240M
YoY Change -100.0% -639.13%
Cash From Investing Activities -$23.70M $1.105M
YoY Change -2245.28% -413.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.00M
YoY Change
Debt Paid & Issued, Net $36.83K $35.68K
YoY Change 3.21% 0.74%
Cash From Financing Activities 30.00M -35.68K
YoY Change -84176.0% 0.74%
NET CHANGE
Cash From Operating Activities 771.4K -427.3K
Cash From Investing Activities -23.70M 1.105M
Cash From Financing Activities 30.00M -35.68K
Net Change In Cash 6.300M 641.8K
YoY Change 881.63% -163.8%
FREE CASH FLOW
Cash From Operating Activities $771.4K -$427.3K
Capital Expenditures $23.70M $135.1K
Free Cash Flow -$22.93M -$562.4K
YoY Change 3976.92% -23.49%

Facts In Submission

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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7915
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.73
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1700
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
59600
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17500
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26750
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.97
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.61
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.91
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.50
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
21700
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
750
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
6391
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
11561585
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
11839346
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
12256698
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
11673380
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1976771
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1976354
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1976771
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1976354

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