2024 Q1 Form 10-Q Financial Statement
#000182912624001677 Filed on March 18, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q1 |
---|---|---|
Revenue | $1.154M | $1.070M |
YoY Change | 7.83% | -33.08% |
Cost Of Revenue | $159.0K | $104.3K |
YoY Change | 52.43% | -30.05% |
Gross Profit | $995.0K | $965.9K |
YoY Change | 3.01% | -33.39% |
Gross Profit Margin | 86.22% | 90.25% |
Selling, General & Admin | $2.157M | $3.142M |
YoY Change | -31.35% | 1.64% |
% of Gross Profit | 216.78% | 325.31% |
Research & Development | $27.00K | $194.7K |
YoY Change | -86.13% | -29.53% |
% of Gross Profit | 2.71% | 20.16% |
Depreciation & Amortization | $19.00K | $155.8K |
YoY Change | -87.8% | 999.51% |
% of Gross Profit | 1.91% | 16.13% |
Operating Expenses | $27.00K | $194.7K |
YoY Change | -86.13% | -93.7% |
Operating Profit | -$1.162M | -$2.176M |
YoY Change | -46.61% | 32.59% |
Interest Expense | $27.00K | $60.97K |
YoY Change | -55.71% | -251.28% |
% of Operating Profit | ||
Other Income/Expense, Net | $149.0K | -$49.39K |
YoY Change | -401.68% | 311.58% |
Pretax Income | -$1.040M | -$2.287M |
YoY Change | -54.52% | 35.01% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$1.040M | -$2.287M |
YoY Change | -54.52% | 35.01% |
Net Earnings / Revenue | -90.12% | -213.66% |
Basic Earnings Per Share | -$0.17 | -$0.33 |
Diluted Earnings Per Share | -$0.17 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 6.125M shares | 1.464B shares |
Diluted Shares Outstanding | 6.191M shares | 7.010M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.172M | $1.423M |
YoY Change | -17.61% | 846.31% |
Cash & Equivalents | $1.172M | $1.423M |
Short-Term Investments | ||
Other Short-Term Assets | $315.0K | $714.7K |
YoY Change | -55.93% | 461.72% |
Inventory | $316.0K | $281.3K |
Prepaid Expenses | $315.0K | $214.7K |
Receivables | $77.00K | $106.9K |
Other Receivables | $12.00K | $8.000K |
Total Short-Term Assets | $1.892M | $2.652M |
YoY Change | -28.67% | 384.06% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $533.0K | $1.544M |
YoY Change | -65.48% | 4.25% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $7.000K | $30.40K |
YoY Change | -76.97% | -39.54% |
Total Long-Term Assets | $540.0K | $1.665M |
YoY Change | -67.58% | 8.77% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.892M | $2.652M |
Total Long-Term Assets | $540.0K | $1.665M |
Total Assets | $2.432M | $4.318M |
YoY Change | -43.67% | 107.67% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $2.219M | $2.268M |
YoY Change | -2.18% | 15.91% |
Accrued Expenses | $83.97K | |
YoY Change | -95.46% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $663.0K | $0.00 |
YoY Change | -100.0% | |
Long-Term Debt Due | $663.0K | |
YoY Change | ||
Total Short-Term Liabilities | $3.923M | $3.426M |
YoY Change | 14.51% | -30.77% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $17.00K | $207.8K |
YoY Change | -91.82% | -32.83% |
Other Long-Term Liabilities | $7.190K | |
YoY Change | -93.37% | |
Total Long-Term Liabilities | $17.00K | $215.0K |
YoY Change | -92.09% | -48.54% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.923M | $3.426M |
Total Long-Term Liabilities | $17.00K | $215.0K |
Total Liabilities | $3.940M | $3.641M |
YoY Change | 8.22% | -32.16% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$58.55M | -$52.81M |
YoY Change | 10.87% | |
Common Stock | $6.000K | $1.489M |
YoY Change | -99.6% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$1.508M | $677.0K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $2.432M | $4.318M |
YoY Change | -43.67% | 107.67% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$1.040M | -$2.287M |
YoY Change | -54.52% | 35.01% |
Depreciation, Depletion And Amortization | $19.00K | $155.8K |
YoY Change | -87.8% | 999.51% |
Cash From Operating Activities | -$575.0K | -$1.283M |
YoY Change | -55.17% | 129.06% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $16.12K | |
YoY Change | -110.39% | |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | -$16.12K | |
YoY Change | -89.61% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -$9.000K | -$1.032M |
YoY Change | -99.13% | -236.32% |
NET CHANGE | ||
Cash From Operating Activities | -$575.0K | -$1.283M |
Cash From Investing Activities | -$16.12K | |
Cash From Financing Activities | -$9.000K | -$1.032M |
Net Change In Cash | -$584.0K | -$2.331M |
YoY Change | -74.94% | -5680.93% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$575.0K | -$1.283M |
Capital Expenditures | $16.12K | |
Free Cash Flow | -$575.0K | -$1.299M |
YoY Change | -55.73% | 220.81% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q4 | ZEOX |
Initial Purchase Order
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CY2024Q1 | dei |
Document Type
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|
10-Q | |
CY2024Q1 | dei |
Document Quarterly Report
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true | |
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Document Period End Date
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2024-01-31 | |
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Zeo ScientifiX, Inc. | |
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2024 | |
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Change In Commitment Fee Shortfall Obligation
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Stock Issued During Period Value Reverse Stock Splits
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Cancellation Of Shares In Connection With Litigation
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Increase Decrease In Due From Related Parties
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Increase Decrease In Other Receivables
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Increase Decrease In Security Deposits
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|
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|
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|
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|
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.33 | |
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Weighted Average Number Of Shares Outstanding Basic
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|
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CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
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|
6190794 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
7009549 | shares |
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StockholdersEquity
|
1889000 | usd |
CY2023Q1 | ZEOX |
Sale Of Common Stock Value
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|
100000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
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Profit Loss
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|
-2287000 | usd |
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Stockholders Equity
StockholdersEquity
|
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Stockholders Equity
StockholdersEquity
|
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Stock Issued During Period Value Share Based Compensation
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|
773000 | usd |
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Profit Loss
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|
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Stockholders Equity
StockholdersEquity
|
-1508000 | usd |
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Net Income Loss
NetIncomeLoss
|
-1040000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2287000 | usd |
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Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
19000 | usd |
CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
156000 | usd |
CY2024Q1 | ZEOX |
Amortization Of Oid Promissory Notes
AmortizationOfOidPromissoryNotes
|
6000 | usd |
CY2023Q1 | ZEOX |
Amortization Of Oid Promissory Notes
AmortizationOfOidPromissoryNotes
|
37000 | usd |
CY2023Q1 | ZEOX |
Change In Commitments Fee Shortfall Obligation
ChangeInCommitmentsFeeShortfallObligation
|
49000 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
773000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
975000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
59000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
52000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
-10000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
1000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
209000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
41000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
6000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
33000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-372000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-110000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
10000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
313000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
4000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-575000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1283000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
16000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-16000 | usd |
CY2023Q1 | ZEOX |
Funds Held In Escrow For Share Repurchase
FundsHeldInEscrowForShareRepurchase
|
500000 | usd |
CY2024Q1 | ZEOX |
Payments On Finance Lease
PaymentsOnFinanceLease
|
9000 | usd |
CY2023Q1 | ZEOX |
Payments On Finance Lease
PaymentsOnFinanceLease
|
32000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
600000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
100000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-9000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1032000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-584000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-2331000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1756000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3753000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1172000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1422000 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
22000 | usd |
CY2024Q1 | ZEOX |
Reduction In Accounts Payable For Equipment Returned To Vendor
ReductionInAccountsPayableForEquipmentReturnedToVendor
|
21000 | usd |
CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_801_eus-gaap--NatureOfOperations_zbk1OPMtgdDd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 1 – <span id="xdx_828_z5yHkeqUriRi">ORGANIZATION AND DESCRIPTION OF BUSINESS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Zeo ScientifiX, Inc. (“ZEO” or the “Company”) (f/k/a Organicell Regenerative Medicine, Inc.) was incorporated on August 9, 2011 in the State of Nevada under the name Bespoke Tricycles Inc. (changed to Biotech Products Services and Research, Inc. during September 2015 and to Organicell Regenerative Medicine, Inc., effective June 20, 2018). The Company is a clinical-stage biopharmaceutical company principally focusing on the development of innovative biological therapeutics for the treatment of degenerative diseases and regenerative medicine. The Company’s proprietary products are derived from perinatal sources and manufactured to retain the naturally occurring extracellular vesicles, hyaluronic acid, and proteins without the addition or combination of any other substance or diluent and an autologous non-manipulated biologic containing the nanoparticle fraction from a patient’s own peripheral blood (“RAAM Products”). Our RAAM Products and related services are principally used in the health care industry administered through doctors and clinics (“Providers”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 8, 2023, our board of directors and our stockholders holding a majority of the Company’s voting power, approved resolutions authorizing the Company to amend its Articles of Incorporation to change the name (“Name Change”) of the Company from Organicell Regenerative Medicine, Inc. to “Zeo ScientifiX, Inc.” On February 16, 2024, the Company filed a Certificate of Amendment with the Secretary of State of Nevada to change the Company’s name from Organicell Regenerative Medicine, Inc. to Zeo ScientifiX Inc., effective February 20, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Name Change, the Company filed a Notification Form with the Financial Industry Regulatory Agency (“FINRA”) to effectuate the Name Change and to change the Company’s ticker symbol to “ZEOX” (“Ticker Change”). The Name Change and Ticker Change were effectuated in the marketplace by FINRA on March 5, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three months ended January 31, 2024 and 2023, the Company principally operated through General Surgical of Florida, Inc., a Florida corporation and wholly owned subsidiary, which was formed to sell the Company’s therapeutic products to Providers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s leading product, Zofin™ (also known as Organicell™ Flow), is an acellular, biologic therapeutic derived from perinatal sources and is manufactured to retain naturally occurring microRNAs, without the addition or combination of any other substance or diluent.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recently launched a service platform for its first autologous product called Patient Pure X™ (“PPX™”). PPX™ is a non-manipulated biologic containing the nanoparticle fraction from a patient’s own peripheral blood. To date, revenues from PPX™ continue to be minimal.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has recently began to expand the use of its proprietary products in future formulations for a variety of topical use applications in the skin-care industry.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 7, 2023, the Company filed a certificate of amendment to its Articles of Incorporation to implement a reverse split of our issued and outstanding common stock on a one-for-200 basis (the “Reverse Split”). The Reverse Split was effective on November 28, 2023. The par value of the Company’s common stock was unchanged at $0.001 per share after the Reverse Split. As a result, on the effective date of the Reverse Split, the stated capital on the Company’s balance sheet attributable to the Company’s common stock was reduced proportionately based on the Reverse Split ratio of one-for-200 and the additional paid-in capital account was credited with the amount by which the stated capital was reduced. All share and per share amounts referenced herein give effect to the Reverse Split as of the earliest period presented.</p> | |
CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zqQPRESGKH66" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_86B_zFtheWplq3r3">Concentrations of Risk</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Credit Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The balance sheet items that potentially subject us to concentrations of credit risk are primarily cash and cash equivalents and accounts receivable. Balances in accounts are insured up to Federal Deposit Insurance Corporation (“FDIC”) limits of $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_c20240131_pp0p0" title="FDIC limits per institutions">250,000</span> per institution. At January 31, 2024, the Company held a total of approximately $<span id="xdx_900_eus-gaap--CashUninsuredAmount_c20240131_pp0p0" title="Cash balances">712,000</span> of cash balances in one financial institution in excess of FDIC insurance coverage limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Major Customer</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended January 31, 2024, the Company sold products and services totaling approximately $<span id="xdx_900_eus-gaap--Revenues_c20231101__20240131__srt--MajorCustomersAxis__custom--LargeDistributorMember_pp0p0" title="Revenues">297,000</span> (<span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--LargeDistributorMember_zCuJVxtUDbZa" title="Concentration percentage">25.7%</span>) to a large distributor, approximately $<span id="xdx_903_eus-gaap--Revenues_c20231101__20240131__srt--MajorCustomersAxis__custom--AnotherLargeDistributorMember_pp0p0" title="Revenues">125,000</span> (<span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--AnotherLargeDistributorMember_zK4bJzaZTFLa" title="Concentration percentage">10.8%</span>) to another large distributor and approximately $<span id="xdx_903_eus-gaap--Revenues_c20231101__20240131__srt--MajorCustomersAxis__custom--IndividualMedicalPracticeMember_pp0p0" title="Revenues">201,000</span> (<span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--IndividualMedicalPracticeMember_pdd" title="Concentration percentage">17.4%</span>) to an individual medical practice.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended January 31, 2023, the Company sold a total of approximately $<span id="xdx_902_eus-gaap--Revenues_c20221101__20230131__srt--MajorCustomersAxis__custom--LargeDistributorMember_pp0p0" title="Revenues">303,000</span> (<span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--LargeDistributorMember_zhq2K1OEfx46" title="Concentration percentage">28.4%</span>) to a large distributor and approximately $<span id="xdx_901_eus-gaap--Revenues_c20221101__20230131__srt--MajorCustomersAxis__custom--AnotherLargeDistributorMember_pp0p0" title="Revenues">295,000</span> (<span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--AnotherLargeDistributorMember_zQYQM6kIs0Ue" title="Concentration percentage">27.6%</span>) to another large distributor.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s sales agreements are non-exclusive and the Company does not believe it has any exposure based on the customers of its products.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | |
CY2024Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
712000 | usd |
CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
27000 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
195000 | usd |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_846_eus-gaap--UseOfEstimates_zSJPwvtqRcP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_865_z58sI8x1OT33">Use of Estimates</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles of the United States 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 year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Those estimates and assumptions include estimates for credit loss reserves for accounts receivable, assumptions used in valuing inventories at net realizable value, impairment testing of recorded long-term tangible and intangible assets, the valuation allowance for deferred tax assets, accruals for potential liabilities, assumptions made in valuing equity instruments issued for services, and assumptions used in the determination of the Company’s liquidity.</p> | |
CY2023Q1 | ZEOX |
Incremental Salary
IncrementalSalary
|
429232 | shares |
CY2024Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd |
CY2023Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1040000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-575000 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1508000 | usd |
CY2024Q1 | ZEOX |
Working Capital Deficit
WorkingCapitalDeficit
|
2031000 | usd |
CY2024Q1 | us-gaap |
Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
|
141000 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
|
154000 | usd |
CY2024Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
175000 | usd |
CY2023Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
156000 | usd |
CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
316000 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
310000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
770000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
795000 | usd |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
237000 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
222000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
533000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
573000 | usd |
CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
19000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
29000 | usd |
CY2024Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
0 | usd |
CY2023Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
127000 | usd |
CY2024Q1 | ZEOX |
Advances Payable
AdvancesPayable
|
220897 | usd |
CY2023Q4 | ZEOX |
Advances Payable
AdvancesPayable
|
220897 | usd |
CY2024Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
667000 | usd |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
667000 | usd |
CY2024Q1 | ZEOX |
Lab Equipment And Supplies Payables
LabEquipmentAndSuppliesPayables
|
245000 | usd |
CY2023Q4 | ZEOX |
Lab Equipment And Supplies Payables
LabEquipmentAndSuppliesPayables
|
407000 | usd |
CY2024Q1 | ZEOX |
Clinical Trial Payables
ClinicalTrialPayables
|
661000 | usd |
CY2023Q4 | ZEOX |
Clinical Trial Payables
ClinicalTrialPayables
|
675000 | usd |
CY2024Q1 | ZEOX |
Legal Fees Payables
LegalFeesPayables
|
237000 | usd |
CY2023Q4 | ZEOX |
Legal Fees Payables
LegalFeesPayables
|
479000 | usd |
CY2024Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
115000 | usd |
CY2023Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
81000 | usd |
CY2024Q1 | ZEOX |
Accrued Irs Penalty
AccruedIrsPenalty
|
92000 | usd |
CY2023Q4 | ZEOX |
Accrued Irs Penalty
AccruedIrsPenalty
|
86000 | usd |
CY2024Q1 | ZEOX |
Accrued Commissions Payable
AccruedCommissionsPayable
|
69000 | usd |
CY2023Q4 | ZEOX |
Accrued Commissions Payable
AccruedCommissionsPayable
|
102000 | usd |
CY2024Q1 | ZEOX |
Construction Payables
ConstructionPayables
|
9000 | usd |
CY2023Q4 | ZEOX |
Construction Payables
ConstructionPayables
|
9000 | usd |
CY2024Q1 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
124000 | usd |
CY2023Q4 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
106000 | usd |
CY2024Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
2219000 | usd |
CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
2612000 | usd |
CY2024Q1 | us-gaap |
Convertible Debt
ConvertibleDebt
|
725000 | usd |
CY2023Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
|
725000 | usd |
CY2024Q1 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
62000 | usd |
CY2023Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
68000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
663000 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
657000 | usd |
CY2024Q1 | us-gaap |
Share Price
SharePrice
|
0.001 | |
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
100000 | shares |
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
12.20 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
100000 | shares |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
12.20 | |
CY2024Q1 | us-gaap |
Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
|
773000 | usd |
CY2023Q1 | us-gaap |
Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
|
631000 | usd |
CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
4108000 | usd |
CY2023 | ZEOX |
Deferred Revenue Invoiced Description
DeferredRevenueInvoicedDescription
|
As of October 31, 2023, $101,000 of product inventory was invoiced and delivered reducing the deferred revenue amount to $399,000. | |
CY2024Q1 | ZEOX |
Deferred Revenue Invoiced Description
DeferredRevenueInvoicedDescription
|
During the period ended January 31, 2024, $81,000 of product inventory was invoiced and delivered, further reducing the deferred revenue balance to $318,000 as of that date. | |
CY2024Q1 | ZEOX |
Initial Purchase Order
InitialPurchaseOrder
|
403000 | usd |
CY2024Q1 | ZEOX |
Advances
Advances
|
318000 | usd |
CY2023Q4 | ZEOX |
Advances
Advances
|
399000 | usd |
CY2024Q1 | ZEOX |
Sales To Customers Not Yet Delivered
SalesToCustomersNotYetDelivered
|
89000 | usd |
CY2023Q4 | ZEOX |
Sales To Customers Not Yet Delivered
SalesToCustomersNotYetDelivered
|
98000 | usd |
CY2024Q1 | us-gaap |
Deferred Revenue
DeferredRevenue
|
810000 | usd |
CY2023Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
497000 | usd |
CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | integer |
CY2023Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | integer |