10-Q Filing

IEH CORP CIK: 50292 Q2 2024

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-091509`
Period End Date	20230930
Filing Date	20231130
Fiscal Year	2024
Fiscal Period	Q2
XBRL Instance	f10q0923_iehcorp_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 66 Cash Flow Statement 56 Stockholders Equity 24

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
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
Common stock, shares issued	`CommonStockSharesIssued`	2.37M	shares	Point-in-time
Cash	`Cash`	$5.98M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.99M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.09M	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
Inventories	`InventoryNet`	$9.45M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$1.49M	USD	Point-in-time
Corporate income taxes receivable	`IncomeTaxesReceivable`	$1.72M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$89.06K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$96.78K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.87M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.53M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.66M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.50M	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`	$26.50M	USD	Point-in-time
Total assets	`Assets`	$29.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$769.29K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$20.64K	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$52.95K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$317.33K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$334.24K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$902.15K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$833.03K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.99M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.59M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$2.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.41M	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 September 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 September 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`	$7.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.31M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$24.32M	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`	$26.47M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$22.09M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$30.82M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$26.50M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$29.20M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$8.27M	USD	2 Qtrs
Revenue	`Revenues`	$4.81M	USD	1 Quarter
Revenue	`Revenues`	$4.19M	USD	1 Quarter
Revenue	`Revenues`	$9.49M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$4.21M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$8.14M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$3.89M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$9.13M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.82M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.38M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$430.82K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$257.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$505.59K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$215.59K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$11.87M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$5.70M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$11.95M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$5.93M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.60M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.12M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.45M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.50M	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	$53.98K	USD	1 Quarter
Other income	`OtherIncome`	$54.05K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$19.83K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$4.77K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$38.32K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$4.40K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$58.83K	USD	2 Qtrs
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$19.83K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$58.38K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$38.32K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.45M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.10M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.42M	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.54M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$806.38K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-4.35M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.46	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.61	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.02	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.84	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.46	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.84	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.02	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.61	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	2 Qtrs
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	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.37M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.37M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.35M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$430.82K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$257.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$505.59K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$215.59K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$62.55K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$192.15K	USD	2 Qtrs
Inventory obsolescence provision	`InventoryWriteDown`	$114.00K	USD	2 Qtrs
Inventory obsolescence provision	`InventoryWriteDown`	$119.91K	USD	2 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	-	USD	2 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxesAndTaxCredits`	$806.38K	USD	2 Qtrs
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$251.44K	USD	2 Qtrs
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$251.44K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-743.90K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$106.63K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$407.48K	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`	$-229.58K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.71K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.72K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-88.11K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-284.79K	USD	2 Qtrs
Customer advance payments	`IncreaseDecreaseInCustomerAdvances`	$32.31K	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`	$-239.21K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-69.12K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-14.44K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.42M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.26M	USD	2 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$430.77K	USD	2 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$100.69K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-430.77K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-100.69K	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.85M	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.36M	USD	2 Qtrs
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.34M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.98M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.82M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.34M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.98M	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
Interest	`InterestPaidNet`	$7.00	USD	2 Qtrs
Interest	`InterestPaidNet`	$56.00	USD	2 Qtrs
Income Taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income Taxes	`IncomeTaxesPaidNet`	$2.25K	USD	2 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$24.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$22.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.82M	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	`StockIssuedDuringPeriodValueShareBasedCompensation`	$129.60K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$62.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.35M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Balance	`StockholdersEquity`	$24.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$22.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.82M	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.