ONE STOP SYSTEMS INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
OSS$4.76-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Cash Flows
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(10,499,551) | $(6,438,616) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Deferred income taxes | (551,567) | - |
| Loss (gain) on disposal of property and equipment | 354 | (92,147) |
| Provision for bad debt | 40,000 | 30,488 |
| Impairment of goodwill | - | 5,630,788 |
| Warranty reserves | (45,000) | (18,216) |
| Amortization of intangibles | - | 42,154 |
| Depreciation | 815,420 | 771,619 |
| Amortization of right-of-use assets | 312,396 | 1,309,725 |
| Inventory reserves | 7,351,278 | 1,026,501 |
| Stock-based compensation expense | 1,423,949 | 1,890,897 |
| Employee retention credit | - | (1,716,727) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,003,287) | 2,639,125 |
| Inventories | (888,972) | (2,614,194) |
| Prepaid expenses and other current assets | (348,364) | (1,018,286) |
| Accounts payable | 2,823,183 | (1,309,295) |
| Accrued expenses and other liabilities | 2,993,729 | 1,348,578 |
| Operating lease liabilities | (280,023) | (1,256,925) |
| Net cash provided by operating activities | 2,143,545 | 225,469 |
| Cash flows from investing activities: | ||
| Redemption of short-term investment grade securities | 4,592,052 | 672,865 |
| Purchases of property and equipment, including capitalization of labor costs for test equipment and ERP | (298,789) | (374,464) |
| Net cash provided by investing activities | 4,293,263 | 298,401 |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options and warrants | 237,748 | 62,422 |
| Payment of payroll taxes on net issuance of employee stock options | (422,564) | (562,017) |
| Repayments on notes payable | (959,373) | (1,081,729) |
| Employee retention credit benefit | - | 1,716,727 |
| Net cash (used in) provided by financing activities | (1,144,189) | 135,403 |
| Net change in cash and cash equivalents | 5,292,619 | 659,273 |
| Effect of exchange rates on cash | 61,041 | (36,464) |
| Cash and cash equivalents, beginning of period | 4,048,948 | 3,112,196 |
| Cash and cash equivalents, end of period | $9,402,608 | $3,735,005 |
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - CONTINUED
| For the Nine Months Ended September 30, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the period for interest | $69,376 | $91,822 | |
| Cash paid during the period for income taxes | $353,876 | $217,705 | |
| Supplemental disclosure of non-cash flow transactions: | |||
| Reclassification of inventories to property and equipment | $12,106 | $ | - |
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