10-Q Filing

IEH CORP CIK: 50292 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-081158`
Period End Date	20220630
Filing Date	20231006
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	f10q0622_iehcorp_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 34 Cash Flow Statement 50 Stockholders Equity 15

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$11.46M	USD	Point-in-time
Cash	`Cash`	$12.68M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.39M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Inventories	`InventoryNet`	$9.46M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Inventories	`InventoryNet`	$9.73M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$2.05M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$2.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$255.92K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$112.17K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.62M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.35M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.16M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.90M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.98M	USD	Point-in-time
Deferred income tax assets, net	`DeferredIncomeTaxAssetsNet`	$806.38K	USD	Point-in-time
Deferred income tax assets, net	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Security deposit	`DepositsAssetsNoncurrent`	$75.76K	USD	Point-in-time
Security deposit	`DepositsAssetsNoncurrent`	$75.76K	USD	Point-in-time
Total assets	`Assets`	$35.87M	USD	Point-in-time
Total assets	`Assets`	$32.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$669.74K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$808.63K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$9.61K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$97.89K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$285.27K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$293.06K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$951.11K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.83M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.05M	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, $0.01 par value; 10,000,000 shares authorized; 2,370,251 shares issued and outstanding at June 30, 2022 and March 31, 2022	`CommonStockValue`	$23.70K	USD	Point-in-time
Common Stock, $0.01 par value; 10,000,000 shares authorized; 2,370,251 shares issued and outstanding at June 30, 2022 and March 31, 2022	`CommonStockValue`	$23.70K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.33M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$29.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$30.82M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$31.54M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$27.92M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$32.76M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$35.87M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Debt forgiveness income	`DebtsForgivenessIncome`	$2.10M	USD	1 Quarter
Revenue	`Revenues`	$6.51M	USD	1 Quarter
Debt forgiveness income	`DebtsForgivenessIncome`	-	USD	1 Quarter
Revenue	`Revenues`	$4.08M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$4.74M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$4.92M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$175.92K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$248.48K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$6.18M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$6.20M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-2.10M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$310.81K	USD	1 Quarter
Other income (for three months ended June 31, 2021, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 4)	`OtherNonoperatingIncomeExpense`	$2.13M	USD	1 Quarter
Other income (for three months ended June 31, 2021, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 4)	`OtherNonoperatingIncomeExpense`	$76.00	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$373.00	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$73.00	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$449.00	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$2.13M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.44M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$806.38K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$97.90K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.23	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.99	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.23	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.95	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2,370.00	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2,370.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2,370.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2,472.00	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$175.92K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$248.48K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$199.50K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Inventory obsolescence provision	`InventoryWriteDown`	$-14.00K	USD	1 Quarter
Inventory obsolescence provision	`InventoryWriteDown`	$60.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$-512.27K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$806.38K	USD	1 Quarter
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$107.20K	USD	1 Quarter
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$125.72K	USD	1 Quarter
Gain on forgiveness of PPP loan	`DebtsForgivenessIncome`	$2.10M	USD	1 Quarter
Gain on forgiveness of PPP loan	`DebtsForgivenessIncome`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.96M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-645.73K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$706.19K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-212.81K	USD	1 Quarter
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-47.05K	USD	1 Quarter
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$92.42K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$80.31K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$143.74K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-138.89K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$172.02K	USD	1 Quarter
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$-26.39K	USD	1 Quarter
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$-88.28K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-115.60K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-40.80K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-227.52K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$88.86K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.15M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.16M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.14K	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.12K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.14K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.12K	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.21M	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.12M	USD	1 Quarter
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.46M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.03M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.91M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.46M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.03M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.91M	USD	Point-in-time
Interest	`InterestPaidNet`	$7.00	USD	1 Quarter
Interest	`InterestPaidNet`	$52.00	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	$397.59K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$29.00M	USD	Point-in-time
Balances	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balances	`StockholdersEquity`	$31.54M	USD	Point-in-time
Balances	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balances (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Balances (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$199.50K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Balances	`StockholdersEquity`	$29.00M	USD	Point-in-time
Balances	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balances	`StockholdersEquity`	$31.54M	USD	Point-in-time
Balances	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balances (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Balances (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.