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10-Q Filing

NextPlat Corp CIK: 1058307 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001493152-23-017186
Period End Date 20230331
Filing Date 20230515
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance form10-q_htm.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $18.89M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $16.72M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 3.33M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 3.33M shares Point-in-time
Accounts receivable AccountsReceivableNetCurrent $383.79K USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $956.10K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 50.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 50.00M shares Point-in-time
Inventory InventoryNet $2.16M USD Point-in-time
Inventory InventoryNet $1.29M USD Point-in-time
Common stock, shares, issued CommonStockSharesIssued 14.40M shares Point-in-time
Common stock, shares, issued CommonStockSharesIssued 14.44M shares Point-in-time
Unbilled revenue UnbilledReceivablesCurrent - USD Point-in-time
Unbilled revenue UnbilledReceivablesCurrent $141.70K USD Point-in-time
Common stock, shares, outstanding CommonStockSharesOutstanding 14.40M shares Point-in-time
Common stock, shares, outstanding CommonStockSharesOutstanding 14.44M shares Point-in-time
VAT receivable ValueAddedTaxReceivableCurrent $432.77K USD Point-in-time
VAT receivable ValueAddedTaxReceivableCurrent $509.54K USD Point-in-time
Prepaid expenses current portion PrepaidExpenseCurrent $45.68K USD Point-in-time
Prepaid expenses current portion PrepaidExpenseCurrent $77.69K USD Point-in-time
Total Current Assets AssetsCurrent $20.43M USD Point-in-time
Total Current Assets AssetsCurrent $21.18M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.25M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.16M USD Point-in-time
Right of use assets, net OperatingLeaseRightOfUseAsset $854.86K USD Point-in-time
Right of use assets, net OperatingLeaseRightOfUseAsset $806.25K USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $50.00K USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $43.75K USD Point-in-time
Equity method investment EquitySecuritiesFVNINoncurrent $5.23M USD Point-in-time
Equity method investment EquitySecuritiesFVNINoncurrent $5.26M USD Point-in-time
Prepaid expenses long term portion PrepaidExpenseNoncurrent $49.23K USD Point-in-time
Prepaid expenses long term portion PrepaidExpenseNoncurrent $49.08K USD Point-in-time
Total Other Assets OtherAssetsNoncurrent $6.21M USD Point-in-time
Total Other Assets OtherAssetsNoncurrent $6.13M USD Point-in-time
Total Assets Assets $27.71M USD Point-in-time
Total Assets Assets $28.64M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $1.80M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $1.52M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $33.82K USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $36.41K USD Point-in-time
Note payable Coronavirus loans current portion NotesPayableCurrent $60.49K USD Point-in-time
Note payable Coronavirus loans current portion NotesPayableCurrent $61.84K USD Point-in-time
Due to related party OtherLiabilitiesCurrent $26.55K USD Point-in-time
Due to related party OtherLiabilitiesCurrent $28.47K USD Point-in-time
Operating lease liabilities - current OperatingLeaseLiabilityCurrent $207.73K USD Point-in-time
Operating lease liabilities - current OperatingLeaseLiabilityCurrent $208.66K USD Point-in-time
Income taxes payable TaxesPayableCurrent $94.24K USD Point-in-time
Income taxes payable TaxesPayableCurrent $96.35K USD Point-in-time
Liabilities from discontinued operations LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $112.40K USD Point-in-time
Liabilities from discontinued operations LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $112.40K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.33M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.06M USD Point-in-time
Notes payable Coronavirus long term LongTermNotesPayable $156.27K USD Point-in-time
Notes payable Coronavirus long term LongTermNotesPayable $144.29K USD Point-in-time
Operating lease liabilities long term OperatingLeaseLiabilityNoncurrent $649.89K USD Point-in-time
Operating lease liabilities long term OperatingLeaseLiabilityNoncurrent $607.72K USD Point-in-time
Total Liabilities Liabilities $3.09M USD Point-in-time
Total Liabilities Liabilities $2.86M USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Preferred stock ($0.0001 par value; 3,333,333 shares authorized) PreferredStockValue - USD Point-in-time
Preferred stock ($0.0001 par value; 3,333,333 shares authorized) PreferredStockValue - USD Point-in-time
Common stock ($0.0001 par value; 50,000,000 shares authorized, 14,441,025 and 14,402,025 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively) CommonStockValue $1.44K USD Point-in-time
Common stock ($0.0001 par value; 50,000,000 shares authorized, 14,441,025 and 14,402,025 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively) CommonStockValue $1.44K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $56.96M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $57.02M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-32.33M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-31.15M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-40.72K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-63.70K USD Point-in-time
Total Stockholders Equity StockholdersEquity $25.78M USD Point-in-time
Total Stockholders Equity StockholdersEquity $23.71M USD Point-in-time
Total Stockholders Equity StockholdersEquity $24.63M USD Point-in-time
Total Stockholders Equity StockholdersEquity $17.53M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $27.71M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $28.64M USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $2.88M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.58M USD 1 Quarter
Cost of sales CostOfRevenue $2.26M USD 1 Quarter
Cost of sales CostOfRevenue $2.78M USD 1 Quarter
Gross profit GrossProfit $801.09K USD 1 Quarter
Gross profit GrossProfit $620.81K USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $788.63K USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $574.35K USD 1 Quarter
Salaries, wages and payroll taxes LaborAndRelatedExpense $635.58K USD 1 Quarter
Salaries, wages and payroll taxes LaborAndRelatedExpense $588.12K USD 1 Quarter
Professional fees ProfessionalFees $320.93K USD 1 Quarter
Professional fees ProfessionalFees $326.21K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $99.57K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $161.59K USD 1 Quarter
Total operating expenses OperatingExpenses $1.64M USD 1 Quarter
Total operating expenses OperatingExpenses $1.86M USD 1 Quarter
Loss before other (income) expense OperatingIncomeLoss $-1.24M USD 1 Quarter
Loss before other (income) expense OperatingIncomeLoss $-834.62K USD 1 Quarter
Interest expense InterestExpenseDebt $5.14K USD 1 Quarter
Interest expense InterestExpenseDebt $3.24K USD 1 Quarter
Interest earned InterestIncomeOther $10.13K USD 1 Quarter
Interest earned InterestIncomeOther $4.96K USD 1 Quarter
Other income OtherIncome $50.00K USD 1 Quarter
Other income OtherIncome - USD 1 Quarter
Foreign currency exchange rate variance ForeignCurrencyTransactionGainLossBeforeTax $28.41K USD 1 Quarter
Foreign currency exchange rate variance ForeignCurrencyTransactionGainLossBeforeTax $-17.18K USD 1 Quarter
Total other (income) expense NonoperatingIncomeExpense $-15.47K USD 1 Quarter
Total other (income) expense NonoperatingIncomeExpense $83.40K USD 1 Quarter
Loss before equity method investment ProfitLoss $-850.08K USD 1 Quarter
Loss before equity method investment ProfitLoss $-1.16M USD 1 Quarter
Equity in net loss of affiliate NetIncomeLossAttributableToNoncontrollingInterest $32.16K USD 1 Quarter
Equity in net loss of affiliate NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net loss NetIncomeLoss $-850.08K USD 1 Quarter
Net loss NetIncomeLoss $-1.19M USD 1 Quarter
Net loss NetIncomeLoss $-850.08K USD 1 Quarter
Net loss NetIncomeLoss $-1.19M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-22.98K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-15.33K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-865.41K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-1.21M USD 1 Quarter
Weighted number of common shares outstanding basic & diluted WeightedAverageNumberOfSharesOutstandingBasic 9.17M shares 1 Quarter
Weighted number of common shares outstanding basic & diluted WeightedAverageNumberOfSharesOutstandingBasic 14.42M shares 1 Quarter
Basic and diluted net loss per share EarningsPerShareBasic $-0.08 USD 1 Quarter
Basic and diluted net loss per share EarningsPerShareBasic $-0.09 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-850.08K USD 1 Quarter
Net loss NetIncomeLoss $-1.19M USD 1 Quarter
Depreciation expense Depreciation $155.34K USD 1 Quarter
Depreciation expense Depreciation $93.32K USD 1 Quarter
Amortization of intangible asset AmortizationOfIntangibleAssets $6.25K USD 1 Quarter
Amortization of intangible asset AmortizationOfIntangibleAssets $6.25K USD 1 Quarter
Amortization of right of use assets OperatingLeaseRightOfUseAssetAmortizationExpense $8.80K USD 1 Quarter
Amortization of right of use assets OperatingLeaseRightOfUseAssetAmortizationExpense $48.61K USD 1 Quarter
Share of loss from equity method investment IncomeLossFromEquityMethodInvestments $-32.16K USD 1 Quarter
Share of loss from equity method investment IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Stock-based compensation ShareBasedCompensation $243.28K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $34.80K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $70.31K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $572.31K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $453.50K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $876.91K USD 1 Quarter
Unbilled revenue IncreaseDecreaseInUnbilledRevenue $-8.28K USD 1 Quarter
Unbilled revenue IncreaseDecreaseInUnbilledRevenue $-141.70K USD 1 Quarter
Prepaid expense IncreaseDecreaseInPrepaidExpense $32.01K USD 1 Quarter
Prepaid expense IncreaseDecreaseInPrepaidExpense $26.23K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets - USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-48.54K USD 1 Quarter
VAT receivable IncreaseDecreaseInValueAddedTaxReceivable $-33.04K USD 1 Quarter
VAT receivable IncreaseDecreaseInValueAddedTaxReceivable $76.77K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $352.20K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $94.46K USD 1 Quarter
Lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-8.72K USD 1 Quarter
Lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-43.10K USD 1 Quarter
Income taxes payable IncreaseDecreaseInIncomeTaxes $2.10K USD 1 Quarter
Income taxes payable IncreaseDecreaseInIncomeTaxes $-38.55K USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $-2.60K USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $-6.40K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-2.07M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-868.56K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $68.58K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $68.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-68.58K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-68.00K USD 1 Quarter
Proceeds from (repayments to) note payable, related party, net ProceedsFromRepaymentsOfRelatedPartyDebt $-1.92K USD 1 Quarter
Proceeds from (repayments to) note payable, related party, net ProceedsFromRepaymentsOfRelatedPartyDebt $19.74K USD 1 Quarter
Proceeds from common stock offering ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from common stock offering ProceedsFromIssuanceOfCommonStock $5.61M USD 1 Quarter
Repayments to note payable Coronavirus loans RepaymentsOfCoronavirusNotePayable $10.62K USD 1 Quarter
Repayments to note payable Coronavirus loans RepaymentsOfCoronavirusNotePayable $16.42K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $5.61M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-12.54K USD 1 Quarter
Effect of exchange rate on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-31.84K USD 1 Quarter
Effect of exchange rate on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-23.13K USD 1 Quarter
Net (decrease) increase in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.64M USD 1 Quarter
Net (decrease) increase in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-2.17M USD 1 Quarter
Cash beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $17.27M USD Point-in-time
Cash beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $16.72M USD Point-in-time
Cash beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $21.91M USD Point-in-time
Cash beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $18.89M USD Point-in-time
Cash end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $17.27M USD Point-in-time
Cash end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $16.72M USD Point-in-time
Cash end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $21.91M USD Point-in-time
Cash end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $18.89M USD Point-in-time
Interest InterestPaidNet $3.24K USD 1 Quarter
Interest InterestPaidNet $4.99K USD 1 Quarter
Income tax IncomeTaxesPaidNet - USD 1 Quarter
Income tax IncomeTaxesPaidNet $38.55K USD 1 Quarter
Common stock issued for stock subscription payable StockIssued1 - USD 1 Quarter
Common stock issued for stock subscription payable StockIssued1 $1.40M USD 1 Quarter
Stockholders Equity 15 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $25.78M USD Point-in-time
Balance StockholdersEquity $23.71M USD Point-in-time
Balance StockholdersEquity $24.63M USD Point-in-time
Balance StockholdersEquity $17.53M USD Point-in-time
Issuance of common stock related to restricted stock award StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $60.54K USD 1 Quarter
Issuance of common stock related to restricted stock award StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $34.80K USD 1 Quarter
Comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-22.98K USD 1 Quarter
Comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-15.33K USD 1 Quarter
Net loss NetIncomeLoss $-850.08K USD 1 Quarter
Net loss NetIncomeLoss $-1.19M USD 1 Quarter
Issuance of common stock related to offering StockIssuedDuringPeriodValueNewIssues $7.01M USD 1 Quarter
Balance StockholdersEquity $25.78M USD Point-in-time
Balance StockholdersEquity $23.71M USD Point-in-time
Balance StockholdersEquity $24.63M USD Point-in-time
Balance StockholdersEquity $17.53M USD Point-in-time

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

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