Revenue and Contracts - Revenue for Q3 2024 was 4.2million,downfrom6.3 million in Q3 2023 due to the end of the HybridTech Armor® contract[1][5] - Secured a 1.1millionPhaseIIcontractfromtheU.S.DepartmentofEnergyformodularradiationshieldingdevelopment[2]−Awardeda12 million contract from a global semiconductor customer for power module components[3] - Secured a 200KdevelopmentcontractfromNAVAIRformetalmatrixcompositesolutions[2]−Booktobillratiostandsat1.22,indicatingstrongfuturerevenuepotential[4]FinancialPerformance−Grossmarginwas(12)1.5 million in Q3 2024 versus an operating profit of 0.1millioninQ32023[2][7]−Netlossof1.0 million, or (0.07)perdilutedshare,inQ32024comparedtonetincomeof0.2 million, or 0.01perdilutedshare,inQ32023[7]ProductionandOperations−ThirdshiftproductionbeganinQ32024,withrevenueimpactexpectedinQ42024[4]AssetsandLiabilities−Cashandcashequivalentsdecreasedto4,689,004 from 8,813,626,a46.81,020,952, previously not recorded[12] - Accounts receivable-trade, net decreased to 3,654,549from4,389,155, a 16.7% decline[12] - Total current assets decreased to 14,666,355from18,144,251, a 19.2% reduction[12] - Net property and equipment increased to 2,082,309from1,556,139, a 33.8% rise[12] - Total liabilities decreased to 3,773,604from4,280,142, an 11.8% decline[12] - Total stockholders' equity decreased to 15,449,045from17,321,974, a 10.8% drop[13] - Accumulated deficit increased to (24,895,093)from(22,754,796), a 9.4% rise[12] - Common shares repurchased at September 28, 2024 cost 340,138,upfrom250,138 at December 30, 2023[13] - Total assets decreased to 19,222,649from21,602,116, an 11.0% decline[12]
