2024 Q4 Form 10-Q Financial Statement

#000149315224044140 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $2.540M
YoY Change 32.09%
Cost Of Revenue $2.560M
YoY Change 34.52%
Gross Profit -$20.00K
YoY Change -200.0%
Gross Profit Margin -0.79%
Selling, General & Admin $787.0K
YoY Change 10.85%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.00K
YoY Change 1.67%
% of Gross Profit
Operating Expenses $971.0K
YoY Change 14.37%
Operating Profit -$991.0K
YoY Change 19.54%
Interest Expense -$201.0K
YoY Change -262.1%
% of Operating Profit
Other Income/Expense, Net -$202.0K
YoY Change 46.38%
Pretax Income -$1.193M
YoY Change 23.37%
Income Tax
% Of Pretax Income
Net Earnings -$1.193M
YoY Change 23.37%
Net Earnings / Revenue -46.97%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$0.05
COMMON SHARES
Basic Shares Outstanding 25.85M shares 25.85M shares
Diluted Shares Outstanding 25.85M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.000K
YoY Change -91.67%
Cash & Equivalents $5.000K
Short-Term Investments
Other Short-Term Assets $355.0K
YoY Change -13.41%
Inventory $7.852M
Prepaid Expenses $355.0K
Receivables $2.196M
Other Receivables $0.00
Total Short-Term Assets $10.41M
YoY Change 4.75%
LONG-TERM ASSETS
Property, Plant & Equipment $5.043M
YoY Change 495.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.192M
YoY Change
Total Long-Term Assets $10.21M
YoY Change 135.55%
TOTAL ASSETS
Total Short-Term Assets $10.41M
Total Long-Term Assets $10.21M
Total Assets $20.62M
YoY Change 44.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.568M
YoY Change 12.0%
Accrued Expenses $525.0K
YoY Change -57.46%
Deferred Revenue
YoY Change
Short-Term Debt $4.062M
YoY Change 20.53%
Long-Term Debt Due $503.0K
YoY Change -72.81%
Total Short-Term Liabilities $7.797M
YoY Change -6.83%
LONG-TERM LIABILITIES
Long-Term Debt $467.0K
YoY Change
Other Long-Term Liabilities $2.422M
YoY Change -18.72%
Total Long-Term Liabilities $2.889M
YoY Change -2.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.797M
Total Long-Term Liabilities $2.889M
Total Liabilities $10.69M
YoY Change -5.81%
SHAREHOLDERS EQUITY
Retained Earnings -$26.54M
YoY Change 6.83%
Common Stock $27.53M
YoY Change 29.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $161.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $9.933M
YoY Change
Total Liabilities & Shareholders Equity $20.62M
YoY Change 44.48%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$1.193M
YoY Change 23.37%
Depreciation, Depletion And Amortization $61.00K
YoY Change 1.67%
Cash From Operating Activities $754.0K
YoY Change -18.04%
INVESTING ACTIVITIES
Capital Expenditures $28.00K
YoY Change -44.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$28.00K
YoY Change -44.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -743.0K
YoY Change -18.35%
NET CHANGE
Cash From Operating Activities 754.0K
Cash From Investing Activities -28.00K
Cash From Financing Activities -743.0K
Net Change In Cash -17.00K
YoY Change -57.5%
FREE CASH FLOW
Cash From Operating Activities $754.0K
Capital Expenditures $28.00K
Free Cash Flow $726.0K
YoY Change -16.55%

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-1779000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
61000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
23000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
651000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
384000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
862000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
302000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-302000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
500000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1000000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
47000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-929000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1476000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-916000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
921000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5000 usd
us-gaap Interest Paid Net
InterestPaidNet
655000 usd
YHGJ Accretion Of Dividends On Preferred Stock
AccretionOfDividendsOnPreferredStock
98000 usd
YHGJ Common Stock Issued In Exchange For Assets Acquired
CommonStockIssuedInExchangeForAssetsAcquired
6250000 usd
YHGJ Allocation Of Proceeds From Preferred Stock Financing To Issuance Of Warrants For Preferred Stock
AllocationOfProceedsFromPreferredStockFinancingToIssuanceOfWarrantsForPreferredStock
814000 usd
YHGJ Reclassification Of Advances Upon Issuances Of Preferred Stock
ReclassificationOfAdvancesUponIssuancesOfPreferredStock
1500000 usd
YHGJ Conversion Of Notes And Deposits Into Common Stock
ConversionOfNotesAndDepositsIntoCommonStock
885000 usd
YHGJ Conversion Of Series B Preferred Stock Into Common Stock
ConversionOfSeriesBPreferredStockIntoCommonStock
1500000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
3732000 usd
CY2024Q1 YHGJ Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
1300000 usd
CY2024Q1 YHGJ Stock Issued During Period Value New Issues Two
StockIssuedDuringPeriodValueNewIssuesTwo
700000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
122000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-576000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
5278000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
6250000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-414000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
11120000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-1193000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
9933000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
2746000 usd
CY2023Q1 YHGJ Common Stock Issued For Notes Payable And Investor Deposit Value
CommonStockIssuedForNotesPayableAndInvestorDepositValue
884000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
9000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
396000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
4035000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-151000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
3889000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
3889000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-967000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2926000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2926000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zRsUJXVr1rsf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zUE5N7fxosM">Reclassification</span>:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 not changed the results of operations of prior periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zg3O3bndro2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zHqly1tFsqB5">Use of estimates</span>:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 may differ from those estimates. The Company’s significant estimates include valuation allowances for credit losses and inventory valuation, and the valuation of warrants to purchase preferred stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
556000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
128000 shares
us-gaap Other Income
OtherIncome
895000 usd
us-gaap Profit Loss
ProfitLoss
26000000 usd
CY2024Q3 us-gaap Cash
Cash
100000 usd
CY2022Q4 us-gaap Payments For Rent
PaymentsForRent
172000 usd
CY2022Q4 us-gaap Debt Conversion Original Debt Interest Rate Of Debt
DebtConversionOriginalDebtInterestRateOfDebt
0.03 pure
CY2023Q1 YHGJ Common Stock Rate Percentage
CommonStockRatePercentage
0.84 pure
CY2023Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
900000 usd
CY2023Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
1800000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
128000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
317000 usd
CY2023Q4 YHGJ Conversion Price Percentage
ConversionPricePercentage
0.84 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.68 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
2.41 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0555 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
556000 shares
CY2024Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1197000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1156000 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
2563000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2511000 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4092000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4124000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
7852000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
7791000 usd
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
36000 usd

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