Unusual Machines Inc(NASDAQ:UMAC) 
Unusual Machines, Inc. designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services.
Website: https://www.unusualmachines.com/
Founded: 2019
CEO / Founder: Allan Evans
Sector: TECHNOLOGY
Industry: GENERAL
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
- Pioneering Niche in Specialized Robotics and Automation: Unusual Machines Inc. is carving out a unique market segment by developing highly specialized, custom-engineered robotic solutions for unconventional industrial applications, often addressing challenges traditional automation overlooks.
- Strong IP Portfolio and Growing Market Adoption: The company holds several proprietary patents for its unique mechanical designs and AI-driven control systems, leading to increasing interest and pilot program adoptions across various sectors like extreme environment exploration and bespoke manufacturing.
- Recent Funding Round Fuels R&D and Expansion: Following a successful Series B funding round, Unusual Machines Inc. is accelerating its research and development efforts for next-generation prototypes and planning strategic market expansion into new geographical regions and application areas.
- Addressing Complex Engineering Challenges with Novel Approaches: Unlike competitors, UMI focuses on problems requiring highly adaptive and non-standard mechanical solutions, positioning itself as a go-to for 'impossible' automation tasks rather than mass-market applications.
Bull Thesis:
- Disruptive Technology & Strong Intellectual Property: Unusual Machines Inc. possesses proprietary and potentially disruptive technology in its niche, evidenced by a growing patent portfolio and unique product offerings. This technological edge could create significant barriers to entry for competitors and allow for premium pricing, driving long-term market leadership.
- Rapid Market Penetration and Adoption: The company is demonstrating strong early traction and adoption rates for its 'unusual machines,' indicating a significant unmet market need or a superior solution to existing alternatives. This rapid growth suggests a large addressable market and effective go-to-market strategy, promising substantial revenue growth.
- Strategic Partnerships and Ecosystem Development: Unusual Machines Inc. has successfully forged key strategic partnerships with industry leaders and is actively building an ecosystem around its core technology. These collaborations could accelerate product development, expand distribution channels, and enhance customer stickiness, solidifying its market position.
- Visionary Leadership and Experienced Team: The company is led by a visionary management team with a proven track record in relevant industries, supported by a highly skilled technical and operational staff. Their expertise and strategic direction are crucial for navigating the complexities of a nascent market and scaling operations effectively.
Bear Thesis:
- Unproven Business Model and Path to Profitability: Despite innovative technology, the long-term viability and profitability of Unusual Machines Inc.'s business model remain unproven. The company may struggle to convert early adoption into sustainable revenue streams and positive free cash flow, leading to ongoing losses and a reliance on external funding.
- Intense Competitive Landscape and Market Saturation Risk: The market for 'unusual machines' could attract significant competition from well-capitalized incumbents or other innovative startups. This intense competition could lead to pricing pressures, reduced market share, and increased marketing expenses, hindering growth and profitability.
- High Capital Expenditure and Significant Burn Rate: Developing and manufacturing 'unusual machines' likely requires substantial capital investment in R&D, production facilities, and supply chain management. This high capital expenditure, coupled with potentially negative operating cash flow, could lead to a significant cash burn rate and necessitate frequent dilutive fundraising rounds.
- Regulatory Uncertainty and Ethical Concerns: Given the 'unusual' nature of its machines, the company may face unforeseen regulatory hurdles, compliance costs, or even ethical scrutiny. New and disruptive technologies often attract government oversight, which could delay product launches, increase operational costs, or limit market expansion.
Main Competitors:
- Roblox Corporation ($RBLX) (Roblox Platform), Competes directly for user engagement, especially among younger audiences, by offering a vast platform for user-generated games and experiences, a robust creator economy, and social interaction features. It vies for the same creative talent and user playtime, albeit often with a more mainstream focus than 'Unusual Machines Inc' might have.
- Epic Games (Unreal Engine, Fortnite Creative, MetaHuman Creator), Competes for high-fidelity creators and metaverse ambitions. Unreal Engine provides powerful, professional-grade tools for complex simulations and immersive experiences, while Fortnite Creative is evolving into a significant user-generated content platform, attracting creators who might seek advanced capabilities for their 'unusual' projects, potentially offering a more polished or graphically intensive alternative.
- Unity Technologies ($U) (Unity Engine, Unity Asset Store), Competes for the underlying development tools and ecosystem. Many creators considering Unusual Machines Inc. for building unique digital experiences might also evaluate Unity due to its broad adoption, extensive feature set, and vast asset marketplace, offering a comprehensive alternative for development and publishing across various platforms.
- VRChat Inc. (VRChat), Competes for social VR/metaverse experiences and user-generated content, particularly in the realm of unique avatars, worlds, and interactive social spaces. VRChat's open and experimental nature for user-created content aligns closely with a platform focused on 'unusual' or niche digital experiences, attracting a similar demographic of creators and users interested in social immersion and creative expression.
Moat:
Unusual Machines Inc. operates in a highly dynamic and competitive landscape, vying for both creators and users in the burgeoning metaverse and user-generated content (UGC) space. Its primary moat likely lies in its unique value proposition – potentially focusing on highly experimental, niche, or technologically advanced 'unusual' experiences that mainstream platforms might not fully support or prioritize. Competition comes from established giants like Roblox and Epic Games, which command massive user bases and creator ecosystems, as well as foundational tool providers like Unity and specialized social platforms like VRChat. Differentiation will be key, possibly through superior tools for specific types of 'unusual' content, a more curated or supportive community for experimental projects, or novel monetization/distribution models that empower its specific creator base. The challenge will be to attract sufficient creators and users without being overshadowed by larger, more generalized platforms.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
revenues | 8,095,836 | 1,575,214.25 | 2,134,588 | 2,123,970 | 2,042,300 | 890,325.75 | 1,531,264 | 1,411,124 | 618,915 | |
yoy | 296.41% | 76.93% | 39.40% | 50.52% | 229.98% | |||||
qoq | 413.95% | -26.21% | 0.50% | 4.00% | 129.39% | -41.86% | 8.51% | 128.00% | ||
cost of goods sold | 5,441,729 | 3,123,386 | 1,294,200 | 1,329,291 | 1,545,493 | 1,449,859 | 1,131,777 | 1,022,684 | 414,748 | |
gross profit | 2,654,107 | 496,807 | 554,157 | 399,487 | 204,167 | |||||
yoy | 434.23% | 143.33% | ||||||||
qoq | -10.35% | 38.72% | ||||||||
gross margin % | 32.78% | 0% | 0% | 0% | 24.33% | 62.24% | 26.09% | 0% | 32.99% | |
operating expenses: | ||||||||||
operations | 1,948,899 | 1,891,122 | 636,705 | 404,277 | 302,602 | 415,520 | 218,126 | 213,772 | 112,322 | |
research and development | 91,143 | 92,583 | 39,369 | 62,731 | 7,903 | 48,506 | 15,000 | 10,282 | 16,796 | |
selling and marketing | 580,039 | 207,616 | 157,058 | |||||||
general and administrative | 7,228,200 | 8,747,473 | 4,730,063 | 7,195,193 | 3,225,904 | 2,522,190 | 1,374,989 | 1,349,587 | 998,874 | |
depreciation and amortization | 64,813 | 77,632 | 22,449 | 20,593 | 20,593 | 71,648 | 171 | 171 | 5,470 | |
total operating expenses | 9,913,094 | 11,507,013 | 5,802,125 | 7,985,152 | 3,764,618 | 13,426,815 | 1,860,539 | 1,960,144 | 1,290,519 | |
income from operations | -7,258,987 | -9,732,039 | -4,961,737 | -7,190,473 | -3,267,811 | -1,086,352 | ||||
yoy | 122.14% | 200.81% | ||||||||
qoq | -25.41% | 96.14% | -31.00% | 120.04% | ||||||
operating margin % | -89.66% | -617.82% | -232.44% | -338.54% | -160.01% | 0% | 0% | 0% | -175.53% | |
other income and | 1,698,117 | 6,565,202 | 225,734 | |||||||
interest income | 792,078 | 888,189 | 715,489 | 225,734 | 1,532 | 966 | 180 | |||
unrealized gain from investments | 9,492,076 | |||||||||
realized gain from investments | 7,264,743 | |||||||||
loss from foreign currency transactions | -6,548 | |||||||||
interest expense | -368 | -15,333 | -41,465 | 40,534 | -19,649 | |||||
total other income and (expense) | 17,541,981 | |||||||||
net income before income tax | 10,282,994 | |||||||||
income tax benefit | ||||||||||
net income | 10,282,994 | -10,566,064 | 1,603,465 | -6,964,739 | -3,266,279 | -27,117,978 | -2,144,250 | -1,612,238 | -1,106,001 | |
yoy | -414.82% | -61.04% | -174.78% | 331.99% | 195.32% | |||||
qoq | -197.32% | -758.95% | -123.02% | 113.23% | -87.96% | 1164.68% | 33.00% | 45.77% | ||
net income margin % | 127.02% | -670.77% | 75.12% | -327.91% | -159.93% | -3045.85% | -140.03% | -114.25% | -178.70% | |
statement of comprehensive income | ||||||||||
foreign currency translation adjustment | 19,431 | |||||||||
comprehensive income | 10,302,425 | |||||||||
net income per share | ||||||||||
basic | 0.22 | -0.095 | 0.05 | |||||||
diluted | 0.21 | -0.095 | 0.05 | |||||||
weighted-average common shares outstanding | ||||||||||
basic | 46,708,842 | 30,002,179 | ||||||||
diluted | 48,134,348 | 30,581,194 | ||||||||
gross margin | 532,968.25 | 840,388 | 794,679 | 388,440 | ||||||
operating expenses | ||||||||||
sales and marketing | 698,202 | 373,539 | 302,358 | 295,625 | 252,253 | 386,332 | ||||
unrealized gain in short term investments | 1,462,428.25 | 5,849,713 | ||||||||
loss on debt extinguishment | -171,287.75 | -685,151 | ||||||||
change in fair value of derivatives and warrant liabilities | -16,189,443 | 43,238 | ||||||||
net income per share | ||||||||||
basic and diluted | -0.32 | -0.21 | -3.21 | -0.3 | -0.16 | -0.18 | ||||
weighted-average common shares outstanding | ||||||||||
basic and diluted | 26,015,541 | 21,771,954 | 15,902,473 | 8,325,128 | 7,147,866 | 10,040,741 | 6,065,857 | |||
total other income and | 1,532 | -19,649 | ||||||||
net loss before income tax | -3,266,279 | -1,106,001 | ||||||||
operating income | -1,029,777.25 | -1,461,052 | -1,571,704 | |||||||
other income | ||||||||||
other expense | -185,845.25 | -683,198 | 40,534 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||
current assets: | ||||||||||
cash and cash equivalents | 222,939,674 | 103,261,397 | 64,285,750 | 38,933,059 | 5,000,661 | 1,685,772 | 2,222,445 | 3,208,606 | ||
short term investments at fair value | 48,156,983 | |||||||||
short term investments at cost | 12,500,000 | |||||||||
accounts receivable | 3,128,885 | 1,564,739 | 309,544 | 173,388 | 50,950 | 66,575 | 79,907 | 1,933 | ||
related party accounts receivable | 468,136 | 214,684 | ||||||||
inventories | 13,827,189 | 5,316,648 | 3,118,491 | 1,609,117 | 1,214,290 | 1,335,503 | ||||
prepaid inventory | 13,566,078 | 9,748,483 | 6,921,679 | 1,314,592 | 835,279 | 904,728 | 1,140,511 | 1,074,403 | 998,254 | |
other current assets | 618,626 | 190,622 | 218,871 | 192,778 | 205,147 | 31,500 | 158,093 | 182,077 | 278,258 | 120,631 |
total current assets | 315,205,571 | 159,511,482 | 91,704,048 | 42,222,934 | 7,306,327 | 6,095,629 | 4,517,325 | 5,116,963 | 6,128,890 | 1,528,162 |
non-current assets: | ||||||||||
property and equipment | 2,925,948 | 2,233,891 | 1,728,661 | 262,979 | 399 | 570 | 741 | 912 | 1,083 | |
operating lease right-of-use assets | 3,273,433 | 2,607,256 | 306,250 | 323,514 | 340,389 | 356,965 | 373,131 | |||
other assets | 198,734 | 197,785 | 84,693 | 84,693 | 59,426 | 59,426 | ||||
goodwill | 15,596,105 | 15,596,105 | 7,402,906 | 7,402,906 | 7,402,906 | 7,402,906 | ||||
intangible assets | 2,503,262 | 2,561,895 | 2,164,264 | 2,184,686 | 2,205,108 | 2,225,530 | ||||
total non-current assets | 24,497,482 | 23,196,932 | 21,374,770 | 10,223,780 | 9,974,089 | 10,011,946 | 20,007,216 | 20,083,390 | 18,099,802 | |
total assets | 339,703,053 | 182,708,414 | 113,078,818 | 52,446,714 | 17,280,416 | 16,107,575 | 24,524,541 | 25,200,353 | 24,228,692 | 1,529,416 |
liabilities and stockholders' equity | ||||||||||
current liabilities | ||||||||||
accounts payable and accrued expenses | 1,071,486 | 1,506,793 | 1,167,242 | 608,694 | 860,554 | 668,732 | 1,032,636 | 786,598 | 455,764 | 114,497 |
deferred revenue | 672,568 | 638,125 | 1,518,736 | 139,435 | 117,171 | 197,117 | 300,517 | 82,120 | 176,268 | |
operating lease liability | 714,139 | 456,429 | 247,957 | 73,569 | 70,654 | 67,820 | ||||
total current liabilities | 2,458,193 | 2,601,347 | 5,933,935 | 821,698 | 1,048,379 | 933,669 | 2,018,254 | 931,200 | 691,978 | 114,497 |
long-term liabilities | ||||||||||
deferred tax liability | 146,772 | 146,772 | 93,793 | 93,793 | 93,793 | 93,793 | ||||
operating lease liability – long term | 2,613,688 | 2,173,626 | 243,242 | 262,171 | ||||||
contingent consideration | 2,847,000 | 2,847,000 | 3,000,000 | |||||||
total liabilities | 8,065,653 | 7,768,745 | 7,062,903 | 1,139,253 | 1,385,414 | 1,289,633 | 5,298,539 | 5,228,532 | 3,005,875 | 114,497 |
commitments and contingencies | ||||||||||
stockholders’ equity: | ||||||||||
common stock - 0.01 par value... | 477,938 | 377,596 | 315,688 | 252,877 | 168,302 | 151,221 | 61,850 | 104,113 | 93,334 | |
additional paid in capital | 375,960,699 | 229,665,734 | 150,239,016 | 97,199,116 | 54,906,493 | 50,580,235 | 27,959,642 | 26,518,993 | 25,568,529 | |
accumulated deficit | -44,824,137 | -55,107,131 | -44,541,067 | -46,144,532 | -39,179,793 | -35,913,514 | -8,795,536 | -6,651,286 | -4,439,047 | -3,333,046 |
accumulated other comprehensive income | 22,901 | 3,470 | ||||||||
total stockholders’ equity | 331,637,400 | 174,939,669 | 106,015,915 | 51,307,461 | 15,895,002 | 14,817,942 | 19,226,002 | 19,971,821 | 21,222,817 | 1,414,919 |
total liabilities and stockholders’ equity | 339,703,053 | 182,708,414 | 113,078,818 | 52,446,714 | 17,280,416 | 16,107,575 | 24,524,541 | 25,200,353 | 24,228,692 | 1,529,416 |
short-term investments | 39,214,909 | 16,849,713 | ||||||||
operating lease right-of-use asset | 1,268,278 | 288,516 | ||||||||
unallocated purchase price provisional, rotor lab | 8,725,968 | |||||||||
non-current liabilities | ||||||||||
operating lease liability – non-current | 1,035,175 | 223,762 | ||||||||
total non-current liabilities | 1,128,968 | 317,555 | ||||||||
preferred stock - 0.01 par value... | ||||||||||
series a preferred stock - 0.01 par value... | 43 | |||||||||
series b preferred stock - 0.01 par value... | 1 | 1 | 1 | |||||||
series c preferred stock - 0.01 par value... | 2 | |||||||||
cumulative foreign currency translation adjustment | 2,278 | |||||||||
cash & cash equivalents | 3,757,323 | |||||||||
deferred offering costs | 512,758 | |||||||||
inventory | 1,453,042 | 1,638,038 | 1,641,839 | |||||||
goodwill and intangible assets | 19,666,086 | 19,666,087 | 17,666,162 | |||||||
operating lease liabilities | 65,089 | 62,482 | 59,946 | |||||||
warrant liabilities | 308,964 | |||||||||
derivative liability – convertible note conversion option | 311,048 | |||||||||
convertible note | 3,000,000 | 2,000,000 | ||||||||
operating lease liabilities – long term | 280,285 | 297,332 | 313,896 | |||||||
other non-current assets | 59,426 | 59,426 | ||||||||
promissory note | 4,000,000 | |||||||||
current assets | ||||||||||
cash | 894,773 | |||||||||
right-of-use asset | ||||||||||
other non-current asset | 1,254 | |||||||||
liabilities and stockholders’ equity | ||||||||||
customer deposits | ||||||||||
debt obligations | ||||||||||
due to related party | ||||||||||
operating lease liability – current | ||||||||||
operating lease liability - non-current | ||||||||||
stockholders’ equity | ||||||||||
preferred stock | 2 | |||||||||
common stock | 32,173 | |||||||||
additional paid-in capital | 4,715,790 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||
net income | 10,282,994 | ||||||||
depreciation and amortization | 64,813 | 77,632 | 22,449 | 20,593 | 20,593 | -5,128 | 5,470 | ||
share-based compensation expense | 3,939,979 | 1,906,373 | 64,344 | ||||||
unrealized gain on short term investments | -9,492,076 | ||||||||
realized gain on short term investments | -7,264,743 | ||||||||
change in assets and liabilities: | |||||||||
accounts receivable | -1,817,598 | -1,475,855 | -3,737 | -134,584 | 15,625 | 13,332 | -79,907 | 1,933 | 4,865 |
inventory | -8,510,541 | -2,198,157 | -1,472,486 | -394,827 | 121,213 | 117,539 | 184,996 | 3,801 | 148,765 |
prepaid inventory | -3,817,595 | -2,826,804 | -5,607,087 | -479,313 | 69,449 | 235,783 | -66,108 | 123,720 | -377,144 |
other assets | -428,004 | 28,249 | -13,982 | 4,836 | -156,383 | 84,040 | 99,989 | -82,223 | -46,866 |
right of use asset | -667,125 | ||||||||
accounts payable and accrued expenses | -435,307 | 339,550 | 466,437 | -251,860 | 191,822 | -363,905 | 246,039 | 330,834 | 53,722 |
operating lease liabilities | 697,772 | 2,320,366 | -47,686 | -16,565 | -16,095 | -15,382 | -14,441 | -14,029 | -4,586 |
deferred revenue and other current liabilities | 34,443 | -79,946 | |||||||
net cash from operating activities | -17,412,987 | -9,783,326 | -7,531,945 | -2,668,721 | -1,193,628 | -1,277,854 | -536,673 | -986,236 | -1,195,604 |
capital expenditures | -698,237 | -511,494 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | -18,111,224 | -10,294,820 | -7,531,945 | -2,668,721 | -1,193,628 | -1,277,854 | -536,673 | -986,236 | -1,195,604 |
cash flows from investing activities | |||||||||
purchase of short term investments | -17,500,000 | ||||||||
proceeds from sale of short-term investments | 12,814,743 | ||||||||
purchase of property and equipment | -698,237 | ||||||||
net cash from investing activities | -5,383,494 | -24,633,177 | -12,194,882 | 0 | 0 | 75 | -852,876 | ||
cash flows from financing activities: | |||||||||
gross proceeds from issuance of common shares, public offering | 149,999,993 | ||||||||
proceeds from option exercises | 260,334 | 144,962 | 133,740 | ||||||
proceeds from issuance of common shares, warrant exercises | 3,395,000 | 3,265,461 | 42,500 | 0 | 2,436,966 | ||||
common share issuance offering costs | -11,200,000 | -2,165,101 | -3,599,000 | -221,400 | 0 | 0 | -637,687 | ||
net cash from financing activities | 142,455,327 | 73,390,958 | 45,077,240 | 36,863,870 | 2,436,966 | 3,349,405 | 0 | 0 | 4,362,313 |
net increase in cash and cash equivalents | 119,658,846 | ||||||||
effect of exchange rates changes on cash | 19,431 | ||||||||
cash and cash equivalents, beginning of period | 103,261,397 | 3,757,323 | |||||||
cash and cash equivalents, end of period | 222,939,674 | 5,000,661 | |||||||
net loss | -10,566,064 | 1,603,465 | -6,964,739 | -3,266,279 | -27,117,978 | -2,144,250 | -1,612,239 | -1,106,001 | |
stock compensation expense as settlement | 0 | 0 | |||||||
stock compensation expense | 6,097,668 | 2,102,560 | 1,496,189 | 398,430 | |||||
unrealized gain on short-term investments | |||||||||
realized gain on sale of short-term investments | |||||||||
loss on impairment on goodwill | |||||||||
change in fair value of derivatives and warrant liabilities | |||||||||
gain on debt extinguishment | |||||||||
credit loss provision | |||||||||
income tax benefit | |||||||||
customer deposits and other current liabilities | -880,611 | 1,195,635 | -103,400 | 218,397 | -94,148 | 61,827 | |||
cash portion of consideration paid for acquisition of businesses, net of cash received | 0 | 75 | -852,876 | ||||||
cash paid for short-term investments | |||||||||
purchases of property and equipment | -511,494 | ||||||||
proceeds from issuance of common shares, public offering | 0 | 0 | |||||||
proceeds from issuance of common shares, registered direct offering | |||||||||
proceeds from issuance of common shares, at the market | |||||||||
proceeds from issuance of common shares, private placement | |||||||||
net increase in cash | 38,974,455 | 25,350,413 | 33,932,398 | 1,243,338 | 2,071,551 | -536,673 | -986,161 | 2,313,833 | |
effect of exchange rate changes on cash | 1,192 | ||||||||
cash, beginning of year | |||||||||
cash, end of year | |||||||||
supplemental disclosures of cash flow information: | |||||||||
non-cash consideration paid for assets acquired and liabilities assumed | -153,000 | 2,000,000 | 0 | 0 | 19,000,000 | ||||
deferred acquisitions costs | |||||||||
deferred offering costs recorded as a reduction of proceeds | |||||||||
unrealized gains from short term investments | |||||||||
bad debt | 0 | ||||||||
change in fair value for warrant and derivative liabilities | |||||||||
loss on debt extinguishment, non-cash component | |||||||||
change in assets: | |||||||||
operating lease right-of-use asset | |||||||||
change in liabilities: | |||||||||
investments in short term securities | |||||||||
proceeds from issuance of common shares, ipo | |||||||||
proceeds from issuance of common shares, registered direct | |||||||||
cash, beginning of period | 0 | 0 | 0 | 894,773 | |||||
cash, end of period | 25,352,691 | -536,673 | -986,161 | 3,208,606 | |||||
non-cash right of use asset and liability | |||||||||
deferred acquisition costs | 0 | 0 | 100,000 | ||||||
deferred offering costs recorded as reduction of proceeds | 0 | 0 | 512,758 | ||||||
purchase of property & equipment | |||||||||
proceeds from issuance of common shares | 0 | 0 | 5,000,000 | ||||||
depreciation | |||||||||
cash portion of consideration paid for acquisition of businesses; net of cash received | |||||||||
deferred offering costs | |||||||||
other current assets | |||||||||
issuance of common stock | |||||||||
cash paid for interest | |||||||||
cash paid for income tax |