10-Q Filing

IEH CORP CIK: 50292 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-081161`
Period End Date	20220930
Filing Date	20231006
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	f10q0922_iehcorp_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 68 Cash Flow Statement 58 Stockholders Equity 24

Balance Sheet 62 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$12.68M	USD	Point-in-time
Cash	`Cash`	$9.82M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.30M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.04M	USD	Point-in-time
Inventories	`InventoryNet`	$9.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Inventories	`InventoryNet`	$9.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$2.10M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$2.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$137.88K	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`	$24.03M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.35M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.28M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.82M	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	`SecurityDeposit`	$40.80K	USD	Point-in-time
Security Deposit	`SecurityDeposit`	$35.04K	USD	Point-in-time
Security Deposit	`SecurityDeposit`	$75.76K	USD	Point-in-time
Security Deposit	`SecurityDeposit`	$75.76K	USD	Point-in-time
Total assets	`Assets`	$31.21M	USD	Point-in-time
Total assets	`Assets`	$35.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$808.63K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$720.53K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$31.77K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$97.89K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$301.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$285.27K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$936.67K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$951.11K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.91M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.74M	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 September 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 September 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`	$18.88M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$27.92M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$31.37M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$30.82M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$26.47M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$31.54M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$29.00M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$31.21M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$35.87M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$13.07M	USD	2 Qtrs
Revenue	`Revenues`	$6.56M	USD	1 Quarter
Debt forgiveness income	`DebtForgivenessIncome`	-	USD	2 Qtrs
Debt forgiveness income	`DebtForgivenessIncome`	$2.10M	USD	2 Qtrs
Revenue	`Revenues`	$8.27M	USD	2 Qtrs
Revenue	`Revenues`	$4.19M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$5.56M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$9.13M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$4.21M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$10.30M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.24M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.18M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.46M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$181.15K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$505.59K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$257.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$357.06K	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$5.70M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$13.12M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$6.92M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$11.87M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-363.11K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-52.29K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.60M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.50M	USD	1 Quarter
Other income (for six months ended September 30, 2021, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 4)	`OtherNonoperatingIncome`	$2.18M	USD	2 Qtrs
Other income (for six months ended September 30, 2021, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 4)	`OtherNonoperatingIncome`	$54.05K	USD	2 Qtrs
Other income (for six months ended September 30, 2021, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 4)	`OtherNonoperatingIncome`	$53.98K	USD	1 Quarter
Other income (for six months ended September 30, 2021, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 4)	`OtherNonoperatingIncome`	$50.84K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$199.00	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$4.77K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$126.00	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$4.40K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$2.18M	USD	2 Qtrs
Total other income (expense), net	`NonoperatingIncomeExpense`	$58.83K	USD	2 Qtrs
Total other income (expense), net	`NonoperatingIncomeExpense`	$50.97K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$58.38K	USD	1 Quarter
(Loss) income before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.54M	USD	2 Qtrs
(Loss) income before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.45M	USD	1 Quarter
(Loss) income before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-312.14K	USD	1 Quarter
(Loss) income before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.13M	USD	2 Qtrs
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	$-69.91K	USD	1 Quarter
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	$27.99K	USD	2 Qtrs
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	$806.38K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-4.35M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-242.23K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.10M	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.89	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.84	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.61	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.84	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.86	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.61	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2,370.00	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2,370.00	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2,370.00	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2,370.00	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2,370.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2,456.00	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2,370.00	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2,370.00	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-4.35M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-242.23K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.10M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$181.15K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$505.59K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$257.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$357.06K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$266.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$66.50K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	2 Qtrs
Inventory obsolescence provision	`InventoryWriteDown`	$-14.00K	USD	2 Qtrs
Inventory obsolescence provision	`InventoryWriteDown`	$114.00K	USD	2 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$-512.27K	USD	2 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$806.38K	USD	2 Qtrs
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$232.92K	USD	2 Qtrs
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$251.44K	USD	2 Qtrs
Gain on forgiveness of PPP loan	`DebtForgivenessIncome`	-	USD	2 Qtrs
Gain on forgiveness of PPP loan	`DebtForgivenessIncome`	$2.10M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.58M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-743.90K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-4.78K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$112.97K	USD	2 Qtrs
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-47.05K	USD	2 Qtrs
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$883.36K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$34.82K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.71K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-88.11K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-347.15K	USD	2 Qtrs
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$-9.03K	USD	2 Qtrs
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$-66.12K	USD	2 Qtrs
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-232.24K	USD	2 Qtrs
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-137.04K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-377.42K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-14.44K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.42M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.12M	USD	2 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$430.77K	USD	2 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$412.16K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-430.77K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-412.16K	USD	2 Qtrs
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$709.04K	USD	2 Qtrs
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.85M	USD	2 Qtrs
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.82M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.62M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.91M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.82M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.62M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.91M	USD	Point-in-time
Interest	`InterestPaidNet`	$52.00	USD	2 Qtrs
Interest	`InterestPaidNet`	$7.00	USD	2 Qtrs
Income Taxes	`IncomeTaxesPaidNet`	$1.01M	USD	2 Qtrs
Income Taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$29.00M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$66.50K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$199.50K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.35M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-242.23K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.10M	USD	2 Qtrs
Balance	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$29.00M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Balance (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.