10-Q Filing

IEH CORP CIK: 50292 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-091472`
Period End Date	20230630
Filing Date	20231130
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	f10q0623_iehcorp_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 32 Cash Flow Statement 48 Stockholders Equity 15

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
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$6.94M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	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`	$2.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.99M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.37M	shares	Point-in-time
Inventories	`InventoryNet`	$9.45M	USD	Point-in-time
Inventories	`InventoryNet`	$9.48M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$1.72M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$1.49M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$96.78K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$106.87K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.97M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.87M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.68M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.58M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.66M	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`	$29.20M	USD	Point-in-time
Total assets	`Assets`	$27.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$768.72K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$44.17K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$20.64K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$317.33K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$325.71K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$902.15K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$529.78K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.67M	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`	$2.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.17M	USD	Point-in-time
Commitments and Contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 9)	`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, 2023 and March 31, 2023	`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, 2023 and March 31, 2023	`CommonStockValue`	$23.70K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.73M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$30.82M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$23.13M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$27.92M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$24.32M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$29.20M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$27.30M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$4.08M	USD	1 Quarter
Revenue	`Revenues`	$4.68M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$4.92M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$4.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.56M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$248.48K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$215.24K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$6.01M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$6.18M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.33M	USD	1 Quarter
Other income	`OtherIncome`	$76.00	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$18.49K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$373.00	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$449.00	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$18.49K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.32M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$806.38K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.56	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.23	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.56	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.23	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.37M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.37M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$248.48K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$215.24K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$129.60K	USD	1 Quarter
Inventory obsolescence provision	`InventoryWriteDown`	$54.00K	USD	1 Quarter
Inventory obsolescence provision	`InventoryWriteDown`	$60.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	-	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$806.38K	USD	1 Quarter
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$125.72K	USD	1 Quarter
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$125.72K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-39.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-645.73K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$91.49K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-212.81K	USD	1 Quarter
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-229.58K	USD	1 Quarter
Corporate income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-47.05K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$143.74K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.09K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-138.89K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-285.36K	USD	1 Quarter
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$-88.28K	USD	1 Quarter
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$23.53K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-119.06K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-115.60K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-372.37K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$88.86K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.16M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.38M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.14K	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.31K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.14K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.31K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.21M	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.40M	USD	1 Quarter
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.94M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.34M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.46M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.94M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.34M	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
Interest	`InterestPaidNet`	$28.00	USD	1 Quarter
Interest	`InterestPaidNet`	$7.00	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.25K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balances	`StockholdersEquity`	$23.13M	USD	Point-in-time
Balances	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.32M	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	`StockIssuedDuringPeriodValueShareBasedCompensation`	$129.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Balances	`StockholdersEquity`	$30.82M	USD	Point-in-time
Balances	`StockholdersEquity`	$23.13M	USD	Point-in-time
Balances	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.32M	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.