2024 Q1 Form 10-Q Financial Statement

#000168316824001418 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q2
Revenue $26.10K $3.000K
YoY Change 161.0% -93.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $20.15K $7.390K
YoY Change -41.73% -89.71%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $20.15K $7.390K
YoY Change -41.72% -89.71%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $5.948K -$4.390K
YoY Change -124.2% -83.63%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $5.948K -$4.390K
YoY Change -124.2% -83.63%
Net Earnings / Revenue 22.79% -146.33%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 6.079M shares 5.871M shares
Diluted Shares Outstanding 6.079M shares

Balance Sheet

Concept 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $808.4K $8.730K
YoY Change 7242.05% -62.21%
Cash & Equivalents $808.4K $8.728K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change
Inventory $0.00
Prepaid Expenses
Receivables
Other Receivables $156.0K $0.00
Total Short-Term Assets $964.4K $8.728K
YoY Change 8656.52% -62.22%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $964.4K $8.728K
Total Long-Term Assets $0.00 $0.00
Total Assets $964.4K $8.728K
YoY Change 8656.52% -62.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $93.57K $67.94K
YoY Change 42.12% 16.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $93.57K $67.94K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $93.57K $67.94K
YoY Change 42.12% 16.96%
SHAREHOLDERS EQUITY
Retained Earnings -$151.0K -$123.9K
YoY Change 26.3% 24.3%
Common Stock $25.01K $5.871K
YoY Change 326.03% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $870.8K -$59.22K
YoY Change
Total Liabilities & Shareholders Equity $964.4K $8.728K
YoY Change 8656.52% -62.22%

Cashflow Statement

Concept 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income $5.948K -$4.390K
YoY Change -124.2% -83.63%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$150.6K -$2.290K
YoY Change 434.28% -83.44%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 958.9K 0.000
YoY Change 23872.75%
NET CHANGE
Cash From Operating Activities -150.6K -2.290K
Cash From Investing Activities
Cash From Financing Activities 958.9K 0.000
Net Change In Cash 808.3K -2.290K
YoY Change -3443.05% -83.44%
FREE CASH FLOW
Cash From Operating Activities -$150.6K -$2.290K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_800_eus-gaap--BasisOfAccounting_z3pdydjTVh29" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 – <i><span id="xdx_820_zHB36x6g4qr7">BASIS OF PRESENTATION</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10–Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the opinion of management, the consolidated balance sheet as of April 30, 2023 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and considered necessary to state fairly the results for the periods presented. The results for the period ended January 31, 2024 are not necessarily indicative of the results to be expected for the entire fiscal year ending April 30, 2024 or for any future period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended April 30, 2023, filed with the SEC on May 16, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
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