Moving Image Technologies Inc

NYSE American:MITQUnited States

Liabilities And Stockholders' Equity ------------------------------------- Current Liabilities: Accounts payable $ 1,832 $ 2,261 Accrued expenses 347 320 Customer refunds 398 399 Customer deposits 1,309 1,651 Lease liability--current 170 151 Unearned warranty revenue 54 31 -------- ------ Total Current Liabilities 4,110 4,813 -------- ------ Long-Term Liabilities: Lease liability--non-current 922 -- ----- -------- ------ Total Long-Term Liabilities 922 -- ----- -------- ------ Total Liabilities 5,032 4,813 -------- ------ Stockholders' Equity Common stock, $0.00001 par value, 100,000,000 shares authorized, 9,896,850 and 9,896,850 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively -- -- Additional paid-in capital 11,971 11,965 Accumulated deficit (6,281) (6,255) -------- ------ Total Stockholders' Equity 5,690 5,710 -------- ------ Total Liabilities and Stockholders' Equity $ 10,722 $10,523 ==== ======== ====== MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands except share and per share amounts) (unaudited) Three Months Ended September 30, 2024 2023 ----------- ----------- Net sales $ 5,252 $ 6,635 Cost of goods sold 3,880 4,816 --------- ---------- Gross profit 1,372 1,819 --------- ---------- Operating expenses: Research and development 61 67 Selling and marketing 529 542 General and administrative 850 826 --------- ---------- Total operating expenses 1,440 1,435 --------- ---------- Operating (loss) income (68) 384 --------- ---------- Other income (expense) Interest and other income, net 43 55 --------- ---------- Total other income 43 55 --------- ---------- Net (loss) income $ (25) $ 439 ========= ========== Weighted average shares outstanding: basic and diluted (Note 5) 9,896,850 10,685,778 ========= ========== Net (loss) income per common share basic and diluted $ (0.00) $ 0.04 ========= ========== MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three Months Ended September 30 2024 2023 ----------- ----------- Cash flows from operating activities: Net (loss) income $ (25) $ 439 Adjustments to reconcile net (loss)/income to net cash (used in) operating activities: Provision for credit losses 11 1 Inventory reserve 80 80 Depreciation expense 4 3 Amortization expense 15 14 Right-of-use amortization 58 66 Stock option compensation expense 5 5 Changes in operating assets and liabilities Accounts receivable 10 (1,138) Inventories 421 (413) Prepaid expenses and other 158 203 Accounts payable (429) 1,405 Accrued expenses and customer refunds 26 225 Unearned warranty revenue 23 (14) Customer deposits (342) (1,016) Lease liabilities (47) (67) ------ ------- Net cash (used in) operating activities (32) (207) ------ ------- Cash flows from investing activities Purchases of property and equipment -- (1) ------ ------- Net cash (used in) investing activities -- (1) ------ ------- Net (decrease) increase in cash (32) (208) Cash, beginning of the period 5,278 6,616 ------ ------- Cash, end of the period $ 5,246 $ 6,408 ====== ======= Non-cash investing and financing activities: Right-of-use assets from lease modification $ (988) $ --

CORRECTING and REPLACING Moving iMage Technologies First Quarter Fiscal 2025 Results Conference Call and Webcast
FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--November 12, 2024--