2024 Q1 Form 10-K Financial Statement

#000165495424003525 Filed on March 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $472.0K $639.0K $1.712M
YoY Change -0.84% 144.83% 25.88%
% of Gross Profit
Research & Development $354.0K $630.0K $2.378M
YoY Change 28.73% 39.69% 4.16%
% of Gross Profit
Depreciation & Amortization $7.000K $6.000K $25.00K
YoY Change 16.67% 0.0% -13.79%
% of Gross Profit
Operating Expenses $833.00 $1.275M $4.115M
YoY Change -99.89% 77.58% 12.06%
Operating Profit
YoY Change
Interest Expense $103.0K $233.0K $361.0K
YoY Change -72.68% 482.5% -314.88%
% of Operating Profit
Other Income/Expense, Net $103.0K $0.00 $361.0K
YoY Change -72.68% -100.0% -241.02%
Pretax Income -$730.0K -$1.042M -$3.754M
YoY Change 92.11% 56.46% -10245.95%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$730.0K -$1.042M -$3.754M
YoY Change 92.11% 56.46% -4.43%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.01 -$0.05
COMMON SHARES
Basic Shares Outstanding 79.64M shares 79.09M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.181M $1.232M $9.668M
YoY Change -75.8% -2.61% 85.35%
Cash & Equivalents $141.0K $200.0K $200.0K
Short-Term Investments $1.040M $1.032M $9.468M
Other Short-Term Assets $205.0K $273.0K $273.0K
YoY Change 688.46% 618.42% 618.42%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.904M $9.941M $9.941M
YoY Change 81.46% 89.21% 89.21%
LONG-TERM ASSETS
Property, Plant & Equipment $16.80M $16.81M $16.81M
YoY Change 0.22% 0.21% 0.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.000K $4.000K $4.000K
YoY Change 0.0% -97.01% 0.0%
Total Long-Term Assets $16.80M $16.82M $16.82M
YoY Change 0.22% 0.21% 0.21%
TOTAL ASSETS
Total Short-Term Assets $8.904M $9.941M $9.941M
Total Long-Term Assets $16.80M $16.82M $16.82M
Total Assets $25.71M $26.76M $26.76M
YoY Change 18.61% 21.44% 21.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $207.0K $593.0K $593.0K
YoY Change 10.11% 160.09% 160.09%
Accrued Expenses $40.00K $39.00K $39.00K
YoY Change 60.0% 11.43% 11.43%
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 $247.0K $632.0K $632.0K
YoY Change 15.96% 140.3% 140.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $165.0K $175.0K $175.0K
YoY Change 32.0% 40.0% 40.0%
Total Long-Term Liabilities $165.0K $175.0K $175.0K
YoY Change 32.0% 40.0% 40.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $247.0K $632.0K $632.0K
Total Long-Term Liabilities $165.0K $175.0K $175.0K
Total Liabilities $412.0K $807.0K $807.0K
YoY Change 21.89% 107.99% 107.99%
SHAREHOLDERS EQUITY
Retained Earnings -$58.37M -$57.64M
YoY Change 7.56% 6.97%
Common Stock $796.0K $796.0K
YoY Change 22.84% 22.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.29M $25.95M $25.95M
YoY Change
Total Liabilities & Shareholders Equity $25.71M $26.76M $26.76M
YoY Change 18.61% 21.44% 21.44%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$730.0K -$1.042M -$3.754M
YoY Change 92.11% 56.46% -4.43%
Depreciation, Depletion And Amortization $7.000K $6.000K $25.00K
YoY Change 16.67% 0.0% -13.79%
Cash From Operating Activities -$991.0K -$579.0K -$3.263M
YoY Change 44.67% -39.18% 12.52%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K $11.00K
YoY Change -97.78% -97.18%
Acquisitions
YoY Change
Other Investing Activities $918.0K -$4.465M -$4.398M
YoY Change 13.47% -560.78% -503.12%
Cash From Investing Activities $918.0K -$4.464M -$4.409M
YoY Change 13.47% -540.24% -728.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.097M
YoY Change 250.82%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $14.00K 5.075M $7.556M
YoY Change 50650.0% 268.05%
NET CHANGE
Cash From Operating Activities -$991.0K -579.0K -$3.263M
Cash From Investing Activities $918.0K -4.464M -$4.409M
Cash From Financing Activities $14.00K 5.075M $7.556M
Net Change In Cash -$59.00K 32.00K -$116.0K
YoY Change -147.58% -55.56% -20.55%
FREE CASH FLOW
Cash From Operating Activities -$991.0K -$579.0K -$3.263M
Capital Expenditures -$1.000K $11.00K
Free Cash Flow -$578.0K -$3.274M
YoY Change -36.27% -0.49%

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles 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 from those estimates.  Some of the more significant estimates included in the preparation of Solitario's financial statements pertain to: (i) the recoverability of its mineral properties related to its mineral exploration properties and their future exploration potential; (ii) the fair value of stock option grants to directors, officers, employees and consultants; and (iii) the ability of Solitario to realize its deferred tax assets.  </p>
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P20Y
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P2Y10M24D
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P2Y4M24D

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