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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments91265248537167166
Cash and cash equivalents91265248537167166
Receivables   1,0331,850 3
Inventory, net of allowances, customer advances and progress billings  2    
Inventory  2    
Other current assets51261723
Other undisclosed current assets  (2)    
Total current assets:962771,2872,405169171
Noncurrent Assets
Intangible assets, net (including goodwill)1,1315392,2012,7542,0462,463
Intangible assets, net (excluding goodwill)1,1315392,2012,7542,0462,463
Total noncurrent assets:1,1315392,2012,7542,0462,463
TOTAL ASSETS:1,2278173,4885,1592,2152,634
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1491292,8923,363339147
Interest and dividends payable  467  
Accrued liabilities 9 11811886
Other undisclosed accounts payable and accrued liabilities1491202,8922,77822162
Debt2,7971381,794716  
Derivative instruments and hedges, liabilities 1451,636 59554090
Due to related parties2,7972,8054,6734,4834,2933,510
Other liabilities      
Other undisclosed current liabilities3,6993,695138388662614
Total current liabilities:9,5868,4039,4979,5455,8344,361
Noncurrent Liabilities
Long-term debt and lease obligation      
Long-term debt, excluding current maturities      
Other undisclosed noncurrent liabilities2043408331,463920700
Total noncurrent liabilities:2043408331,463920700
Total liabilities:9,7908,74310,32911,0086,7545,061
Equity
Equity, attributable to parent(8,563)(7,927)(6,842)(5,849)(4,541)(2,430)
Common stock01611111111
Additional paid in capital17,62617,49314,42814,10814,10814,108
Accumulated deficit(26,189)(25,436)(21,281)(19,969)(18,660)(16,549)
Equity, attributable to noncontrolling interest000023
Total equity:(8,563)(7,927)(6,842)(5,849)(4,539)(2,427)
TOTAL LIABILITIES AND EQUITY:1,2278173,4885,1592,2152,634

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues4512,0505,4884,1437,0691,232
Cost of revenue
(Cost of Goods and Services Sold)
   (3,384)(6,072)(1)
Other undisclosed gross profit(304)     
Gross profit:1482,0505,4887599971,231
Operating expenses(1,980)(5,164)(6,207)(4,613)(7,040)(1,777)
Other undisclosed operating income    3,3846,0721
Operating income (loss):(1,832)(3,114)(719)(469)29(546)
Nonoperating income (expense)1,077(1,039)(528)(836)(1,101)(516)
Investment income, nonoperating   275(55)(450) 
Other nonoperating expense      
Interest and debt expense (83)(64)(804)(808)(651)(566)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes     566
Loss from continuing operations before equity method investments, income taxes:(837)(4,217)(2,052)(2,113)(1,723)(1,061)
Other undisclosed income from continuing operations before income taxes8364804808651 
Loss from continuing operations before income taxes:(755)(4,153)(1,247)(1,305)(1,072)(1,061)
Income tax expense (benefit)1(2)(65)(5)(1,040)(106)
Loss from continuing operations:(754)(4,155)(1,313)(1,310)(2,112)(1,167)
Loss before gain (loss) on sale of properties:(4,155)(1,313)(1,310)(2,112)(1,167)
Net loss:(754)(4,155)(1,313)(1,310)(2,112)(1,167)
Net income (loss) attributable to noncontrolling interest   021(1)
Net loss available to common stockholders, diluted:(754)(4,155)(1,313)(1,309)(2,110)(1,168)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(754)(4,155)(1,313)(1,310)(2,112)(1,167)
Comprehensive loss:(754)(4,155)(1,313)(1,310)(2,112)(1,167)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest   021(1)
Comprehensive loss, net of tax, attributable to parent:(754)(4,155)(1,313)(1,309)(2,110)(1,168)

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.

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