10-K Filing

IEH CORP CIK: 50292 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001213900-23-081163`
Period End Date	20230331
Filing Date	20231006
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	f10k2023_iehcorp_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 34 Cash Flow Statement 48 Stockholders Equity 10

Balance Sheet 56 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
Cash	`Cash`	$12.68M	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`	$8.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.04M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.99M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Inventories	`InventoryNet`	$9.73M	USD	Point-in-time
Inventories	`InventoryNet`	$9.45M	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
Corporate income taxes receivable	`IncomeTaxesReceivable`	$1.72M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$2.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$112.17K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$96.78K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.65M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.87M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.35M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.98M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.66M	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`	$29.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$808.63K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$20.64K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$97.89K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$317.33K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$285.27K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$951.11K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$902.15K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.29M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.59M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.88M	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, $0.01 par value; 10,000,000 shares authorized; 2,370,251 shares issued and outstanding at March 31, 2023 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 March 31, 2023 and March 31, 2022	`CommonStockValue`	$23.70K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.23M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$24.32M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$30.82M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$35.87M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$29.20M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Debt forgiveness income	`DebtForgivenessIncome`	-	USD	Annual
Revenue	`Revenues`	$19.14M	USD	Annual
Revenue	`Revenues`	$24.27M	USD	Annual
Debt forgiveness income	`DebtForgivenessIncome`	$2.10M	USD	Annual
Cost of products sold	`CostOfGoodsAndServicesSold`	$18.40M	USD	Annual
Cost of products sold	`CostOfGoodsAndServicesSold`	$19.33M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.52M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.04M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.03M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$837.20K	USD	Annual
Total operating expenses	`CostsAndExpenses`	$24.95M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$25.20M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-938.93K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-5.81M	USD	Annual
Other income (for fiscal year ended March 31, 2022, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 5)	`OtherNonoperatingIncome`	$85.23K	USD	Annual
Other income (for fiscal year ended March 31, 2022, consists principally of $2,103,885 debt forgiveness income from the forgiveness of the PPP Loan, see Note 5)	`OtherNonoperatingIncome`	$2.21M	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$391.00	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$31.04K	USD	Annual
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$116.27K	USD	Annual
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$2.21M	USD	Annual
(Loss) income before (provision for) benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.70M	USD	Annual
(Loss) income before (provision for) benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.28M	USD	Annual
(Provision for) benefit from income taxes	`IncomeTaxExpenseBenefit`	$806.38K	USD	Annual
(Provision for) benefit from income taxes	`IncomeTaxExpenseBenefit`	$-162.65K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-6.50M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$1.44M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.61	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-2.74	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.59	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-2.74	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.45M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.37M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-6.50M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$1.44M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.03M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$837.20K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$383.08K	USD	Annual
Inventory obsolescence provision	`InventoryWriteDown`	$-14.00K	USD	Annual
Inventory obsolescence provision	`InventoryWriteDown`	$222.00K	USD	Annual
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$-164.43K	USD	Annual
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$806.38K	USD	Annual
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$502.88K	USD	Annual
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$484.36K	USD	Annual
Gain on forgiveness of PPP loan	`DebtForgivenessIncome`	-	USD	Annual
Gain on forgiveness of PPP loan	`DebtForgivenessIncome`	$2.10M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.61M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-53.53K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$412.59K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-59.99K	USD	Annual
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-373.01K	USD	Annual
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.56M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-15.39K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-27.23K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$189.58K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$245.45K	USD	Annual
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$59.22K	USD	Annual
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$-77.25K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-469.11K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-367.01K	USD	Annual
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-48.96K	USD	Annual
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$11.73K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.41M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.79M	USD	Annual
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.65M	USD	Annual
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$545.51K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-545.51K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.65M	USD	Annual
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.23M	USD	Annual
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-4.33M	USD	Annual
Cash - beginning of fiscal year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.34M	USD	Point-in-time
Cash - beginning of fiscal year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - beginning of fiscal year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.91M	USD	Point-in-time
Cash - end of fiscal year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.34M	USD	Point-in-time
Cash - end of fiscal year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - end of fiscal year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.91M	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	$110.00	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	$7.80K	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	$1.27M	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$24.32M	USD	Point-in-time
Balances	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balances (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Balances (in Shares)	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-6.50M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.44M	USD	Annual
Balances	`StockholdersEquity`	$24.32M	USD	Point-in-time
Balances	`StockholdersEquity`	$30.82M	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.