$YHGJ
YUNHONG GREEN CTI LTD.

2022 Q1 Form 10-Q Financial Statement

#000143774922012685 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $5.797M $6.599M
YoY Change -12.15% -6.63%
Cost Of Revenue $4.758M $5.313M
YoY Change -10.45% -4.89%
Gross Profit $1.039M $1.286M
YoY Change -19.21% -13.19%
Gross Profit Margin 17.92% 19.49%
Selling, General & Admin $875.0K $882.0K
YoY Change -0.79% 16.64%
% of Gross Profit 84.22% 68.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $98.00K $120.0K
YoY Change -18.33% -59.18%
% of Gross Profit 9.43% 9.33%
Operating Expenses $1.058M $988.0K
YoY Change 7.09% 16.05%
Operating Profit -$19.00K $298.0K
YoY Change -106.38% -52.71%
Interest Expense $96.00K $200.0K
YoY Change -52.0% -54.67%
% of Operating Profit 67.11%
Other Income/Expense, Net -$2.000K -$206.0K
YoY Change -99.03% -67.69%
Pretax Income -$21.00K $92.00K
YoY Change -122.83% -1329.62%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$21.00K -$422.0K
YoY Change -95.02% -33.93%
Net Earnings / Revenue -0.36% -6.39%
Basic Earnings Per Share -$0.04 -$0.36
Diluted Earnings Per Share -$0.04 -$0.36
COMMON SHARES
Basic Shares Outstanding 5.901M 5.855M
Diluted Shares Outstanding 5.901M 5.855M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $208.0K $90.00K
YoY Change 131.11% -43.75%
Cash & Equivalents $208.0K $85.61K
Short-Term Investments
Other Short-Term Assets $240.0K $1.341M
YoY Change -82.1% 20.54%
Inventory $8.496M $10.92M
Prepaid Expenses $646.0K $733.9K
Receivables $3.318M $7.242M
Other Receivables $0.00 $300.0K
Total Short-Term Assets $12.91M $20.83M
YoY Change -38.02% -12.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.076M $1.843M
YoY Change -41.62% -18.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $90.00K
YoY Change -100.0% 12.5%
Total Long-Term Assets $5.353M $2.721M
YoY Change 96.74% -9.93%
TOTAL ASSETS
Total Short-Term Assets $12.91M $20.83M
Total Long-Term Assets $5.353M $2.721M
Total Assets $18.26M $23.55M
YoY Change -22.45% -12.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.347M $6.119M
YoY Change -61.64% -2.09%
Accrued Expenses $485.0K $1.125M
YoY Change -56.89% -5.68%
Deferred Revenue
YoY Change
Short-Term Debt $5.158M $6.750M
YoY Change -23.59% -33.23%
Long-Term Debt Due $229.0K $4.830M
YoY Change -95.26% 50.47%
Total Short-Term Liabilities $8.719M $19.57M
YoY Change -55.44% -8.82%
LONG-TERM LIABILITIES
Long-Term Debt $1.704M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $3.777M $160.0K
YoY Change 2260.63% 0.53%
Total Long-Term Liabilities $5.481M $157.8K
YoY Change 3374.18% -94.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.719M $19.57M
Total Long-Term Liabilities $5.481M $157.8K
Total Liabilities $14.20M $19.72M
YoY Change -28.01% -18.8%
SHAREHOLDERS EQUITY
Retained Earnings -$22.68M -$14.80M
YoY Change 53.17% 39.25%
Common Stock $18.68M $19.37M
YoY Change -3.54% 4.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $161.0K $160.8K
YoY Change 0.13% 0.0%
Treasury Stock Shares $43.66K $43.66K
Shareholders Equity $4.061M $4.499M
YoY Change
Total Liabilities & Shareholders Equity $18.26M $23.55M
YoY Change -22.45% -12.28%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$21.00K -$422.0K
YoY Change -95.02% -33.93%
Depreciation, Depletion And Amortization $98.00K $120.0K
YoY Change -18.33% -59.18%
Cash From Operating Activities $2.000K -$1.421M
YoY Change -100.14% -268.66%
INVESTING ACTIVITIES
Capital Expenditures -$15.00K -$50.00K
YoY Change -70.0% 150.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$15.00K -$45.78K
YoY Change -67.24% 147.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $155.0K 1.557M
YoY Change -90.05% -191.63%
NET CHANGE
Cash From Operating Activities $2.000K -1.421M
Cash From Investing Activities -$15.00K -45.78K
Cash From Financing Activities $155.0K 1.557M
Net Change In Cash $142.0K $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $2.000K -$1.421M
Capital Expenditures -$15.00K -$50.00K
Free Cash Flow $17.00K -$1.371M
YoY Change -101.24% -258.95%

Facts In Submission

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368000 USD
CY2021Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 USD
CY2021Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
96000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
464000 USD
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-554000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
142000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
0 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
66000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
66000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
208000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
66000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
78000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
195000 USD
CY2022Q1 ctib Accrued Dividend On Preferred Stock
AccruedDividendOnPreferredStock
202000 USD
CY2021Q1 ctib Accrued Dividend On Preferred Stock
AccruedDividendOnPreferredStock
209000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
747000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
568000 USD
CY2022Q1 ctib Amortization Of Beneficial Conversion Feature And Deemed Dividend On Preferred Stock
AmortizationOfBeneficialConversionFeatureAndDeemedDividendOnPreferredStock
0 USD
CY2021Q1 ctib Amortization Of Beneficial Conversion Feature And Deemed Dividend On Preferred Stock
AmortizationOfBeneficialConversionFeatureAndDeemedDividendOnPreferredStock
1500000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1188000 USD
CY2021Q1 ctib Deemed Dividend On Beneficial Conversion Feature Of Preferred Stock
DeemedDividendOnBeneficialConversionFeatureOfPreferredStock
-1500000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-381000 USD
CY2021Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-16000 USD
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
4051000 USD
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
31000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-21000 USD
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
4061000 USD
CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"/> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><b>Reclassification:</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Certain amounts in the Company's condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation.  These reclassifications have <em style="font: inherit;">not</em> changed the results of operations of prior periods.</p>
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"/> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><b>Use of estimates:</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the amounts reported of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period in the financial statements and accompanying notes. Actual results <em style="font: inherit;"> may </em>differ from those estimates. The Company’s significant estimates include valuation allowances for doubtful accounts and inventory valuation, preferred stock dividends and beneficial conversion features, and assumptions used as inputs in the Black-Scholes option-pricing model. </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p>
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
128000
us-gaap Net Income Loss
NetIncomeLoss
-23000000 USD
CY2019Q1 us-gaap Share Price
SharePrice
3.32
CY2021Q3 ctib Advance From Investor Current
AdvanceFromInvestorCurrent
1500000 USD
CY2020 ctib Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
391308
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
128000
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.75
CY2022Q1 ctib Class Of Warrant Or Right Issued In Period
ClassOfWarrantOrRightIssuedInPeriod
0
CY2022Q1 ctib Class Of Warrant Or Right Issued In Period Exercise Price
ClassOfWarrantOrRightIssuedInPeriodExercisePrice
0
CY2022Q1 ctib Class Of Warrant Or Right Cancelled During Period Exercise Price
ClassOfWarrantOrRightCancelledDuringPeriodExercisePrice
0
CY2022Q1 ctib Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
-0
CY2022Q1 ctib Class Of Warrant Or Right Exercised During Period Exercise Price
ClassOfWarrantOrRightExercisedDuringPeriodExercisePrice
0
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
128000
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.75
CY2022Q1 ctib Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
128000
CY2022Q1 ctib Class Of Warrants Or Rights Exercisable Weighted Average Exercise Price
ClassOfWarrantsOrRightsExercisableWeightedAverageExercisePrice
1.75
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10710572
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1531000 USD
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1249000 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2635000 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2492000 USD
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4532000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4425000 USD
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
202000 USD
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
290000 USD
CY2022Q1 us-gaap Inventory Net
InventoryNet
8496000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
7876000 USD

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