RETRACTABLE TECHNOLOGIES INC
For the period ended Mar 31, 2024. Filed May 15, 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.
Mar 31, 2024 · Filed May 15, 2024
RVP$0.55-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED STATEMENTS OF CASH FLOWS
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · Three Months · · Three Months · | |||||||
| · · Ended · · Ended · | |||||||
| · March 31, 2024 · March 31, 2023 · | |||||||
| Cash flows from operating activities | | | | | | | |
| Net income | | $429,384 | | $990,972 | | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | |
| Depreciation and amortization | | 1,889,467 | | 1,938,921 | | ||
| Net unrealized gain on investments | | | (1,732,649) | | | (1,492,011) | |
| Realized gain on investments | | | — | | | (746,262) | |
| Accreted interest | | | — | | | 9,157 | |
| Bond amortization | | | (251) | | | — | |
| Deferred taxes | | | 83,891 | | | 230,917 | |
| Provision for credit losses | | — | | 370,573 | | ||
| Net realizable value inventory adjustment | | | 1,845 | | | 141,518 | |
| Other income - TIA | | | (1,484,620) | | | (1,557,779) | |
| (Increase) decrease in operating assets: | | | | | | | |
| Accounts receivable | | 3,247,092 | | (1,849,918) | | ||
| Inventories | | (1,909,296) | | (1,556,397) | | ||
| Other current assets | | (51,550) | | (533,279) | | ||
| Income taxes receivable | | | — | | | 1,100,847 | |
| Other assets | | | 14,904 | | | 11,178 | |
| Increase (decrease) in operating liabilities: | | | | | | | |
| Accounts payable | | (2,184,723) | | (1,034,169) | | ||
| Accrued liabilities | | (322,754) | | 276,150 | | ||
| Income taxes payable | | (3,147) | | — | | ||
| Net cash used by operating activities | | (2,022,407) | | (3,699,582) | | ||
| | | | | | | | |
| Cash flows from investing activities | | | | | | | |
| Purchase of property, plant, and equipment | | (226,396) | | (467,530) | | ||
| Purchase of debt and equity securities | | | (276,326) | | | (15,918,837) | |
| Proceeds from the sales of equity securities | | | — | | | 6,784,228 | |
| Net cash used by investing activities | | (502,722) | | (9,602,139) | | ||
| | | | | | | | |
| Cash flows from financing activities | | | | | | | |
| Repayments of long-term debt | | (73,648) | | (70,496) | | ||
| Proceeds from Technology Investment Agreement (TIA) | | | — | | | 1,172,310 | |
| Payment of preferred stock repurchase payable | | | — | | | (1,101,110) | |
| Payment of preferred stock dividends | | (57,611) | | (58,111) | | ||
| Net cash used by financing activities | | (131,259) | | (57,407) | | ||
| | | | | | | | |
| Net decrease in cash and cash equivalents | | (2,656,388) | | (13,359,128) | | ||
| Cash and cash equivalents at: | | | | | | | |
| Beginning of period | | 12,667,550 | | 19,721,345 | | ||
| End of period | | $10,011,162 | | $6,362,217 | | ||
| | | | | | | | |
| Supplemental schedule of cash flow information: | | | | | | | |
| Interest paid | | $33,483 | | $34,398 | | ||
| Income taxes paid | | $— | | $— | | ||
| | | | | | | | |
| Supplemental schedule of noncash investing and financing activities: | | | | | | | |
| Preferred dividends declared, not paid | | $57,611 | | $1,417,937 | | ||
| Amounts receivable under Technology Investment Agreement (TIA) | | $— | | $1,390,919 | | ||
| Redemption price payable | | $6,000 | | $6,000 | | ||
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