Quest Patent Research Corporation (QPRC) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
411 THEODORE FREMD AVE. RYE, NY 10580 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 519 - Miscellaneous Non-durable Goods (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 563 | 91 | 265 | 248 | 537 | 167 | |||
| Cash and cash equivalents | 563 | 91 | 265 | 248 | 537 | 167 | |||
| Receivables | 3,015 | 1,033 | 1,850 | ||||||
| Inventory, net of allowances, customer advances and progress billings | 2 | ||||||||
| Inventory | 2 | ||||||||
| Other current assets | 28 | 5 | 12 | 6 | 17 | 2 | |||
| Other undisclosed current assets | (2) | ||||||||
| Total current assets: | 3,607 | 96 | 277 | 1,287 | 2,405 | 169 | |||
| Noncurrent Assets | |||||||||
| Intangible assets, net (including goodwill) | 3,675 | 1,131 | 539 | 2,201 | 2,754 | 2,046 | |||
| Intangible assets, net (excluding goodwill) | 3,675 | 1,131 | 539 | 2,201 | 2,754 | 2,046 | |||
| Total noncurrent assets: | 3,675 | 1,131 | 539 | 2,201 | 2,754 | 2,046 | |||
| TOTAL ASSETS: | 7,282 | 1,227 | 817 | 3,488 | 5,159 | 2,215 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 1,675 | 149 | 129 | 2,892 | 3,363 | 339 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 467 | |||||
| Accounts payable | 1,378 | ||||||||
| Accrued liabilities | 1,097 | 9 | 118 | 118 | |||||
| Other undisclosed accounts payable and accrued liabilities | (800) | 149 | 120 | 2,892 | 2,778 | 221 | |||
| Debt | 2,797 | 2,797 | 138 | 1,794 | 716 | ||||
| Derivative instruments and hedges, liabilities | 145 | 1,636 | 595 | 540 | |||||
| Other liabilities | 7,326 | ||||||||
| Due to related parties | ✕ | ✕ | 2,797 | 2,805 | 4,673 | 4,483 | 4,293 | ||
| Other undisclosed current liabilities | 1,517 | 3,699 | 3,695 | 138 | 388 | 662 | |||
| Total current liabilities: | 13,313 | 9,586 | 8,403 | 9,497 | 9,545 | 5,834 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 150 | ||||||||
| Long-term debt, excluding current maturities | 150 | ||||||||
| Other undisclosed noncurrent liabilities | 54 | 204 | 340 | 833 | 1,463 | 920 | |||
| Total noncurrent liabilities: | 204 | 204 | 340 | 833 | 1,463 | 920 | |||
| Total liabilities: | 13,517 | 9,790 | 8,743 | 10,329 | 11,008 | 6,754 | |||
| Equity | |||||||||
| Equity, attributable to parent | (6,236) | (8,563) | (7,927) | (6,842) | (5,849) | (4,541) | |||
| Common stock | 0 | 0 | 16 | 11 | 11 | 11 | |||
| Additional paid in capital | 17,675 | 17,626 | 17,493 | 14,428 | 14,108 | 14,108 | |||
| Accumulated deficit | (23,911) | (26,189) | (25,436) | (21,281) | (19,969) | (18,660) | |||
| Equity, attributable to noncontrolling interest | 0 | 0 | 0 | 0 | 0 | 2 | |||
| Total equity: | (6,236) | (8,563) | (7,927) | (6,842) | (5,849) | (4,539) | |||
| TOTAL LIABILITIES AND EQUITY: | 7,282 | 1,227 | 817 | 3,488 | 5,159 | 2,215 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 13,153 | 451 | 2,050 | 5,488 | 4,143 | 7,069 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (5,316) | (3,384) | (6,072) | |||||
| Other undisclosed gross profit | (1,590) | (304) | ||||||
| Gross profit: | 6,247 | 148 | 2,050 | 5,488 | 759 | 997 | ||
| Operating expenses | (2,741) | (1,980) | (5,164) | (6,207) | (4,613) | (7,040) | ||
| Other undisclosed operating income | 3,384 | 6,072 | ||||||
| Operating income (loss): | 3,506 | (1,832) | (3,114) | (719) | (469) | 29 | ||
| Nonoperating income (expense) | (1,198) | 1,077 | (1,039) | (528) | (836) | (1,101) | ||
| Investment income, nonoperating | 275 | (55) | (450) | |||||
| Other nonoperating income (expense) | (2,000) | |||||||
| Interest and debt expense | (240) | (83) | (64) | (804) | (808) | (651) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | ||||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 2,068 | (837) | (4,217) | (2,052) | (2,113) | (1,723) | ||
| Other undisclosed income from continuing operations before income taxes | 240 | 83 | 64 | 804 | 808 | 651 | ||
| Income (loss) from continuing operations before income taxes: | 2,308 | (755) | (4,153) | (1,247) | (1,305) | (1,072) | ||
| Income tax expense (benefit) | (30) | 1 | (2) | (65) | (5) | (1,040) | ||
| Income (loss) from continuing operations: | 2,278 | (754) | (4,155) | (1,313) | (1,310) | (2,112) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (4,155) | (1,313) | (1,310) | (2,112) | |
| Net income (loss): | 2,278 | (754) | (4,155) | (1,313) | (1,310) | (2,112) | ||
| Net income attributable to noncontrolling interest | 0 | 2 | 1 | |||||
| Net income (loss) available to common stockholders, diluted: | 2,278 | (754) | (4,155) | (1,313) | (1,309) | (2,110) | ||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 2,278 | (754) | (4,155) | (1,313) | (1,310) | (2,112) | ||
| Comprehensive income (loss): | 2,278 | (754) | (4,155) | (1,313) | (1,310) | (2,112) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 0 | 2 | 1 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 2,278 | (754) | (4,155) | (1,313) | (1,309) | (2,110) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.