IEH Corp Files Q2 2024 10-Q Report

TL;DR

IEH Corp filed its 10-Q for Q2 2024. Check financials.

AI Summary

IEH Corp filed its 10-Q report for the quarterly period ended June 30, 2024. The company, incorporated in New York with its principal executive offices in Brooklyn, NY, operates in the Electronic Connectors industry. This filing provides an update on the company's financial performance and operations for the specified quarter.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial and operational details for IEH Corp, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information, with no immediate red flags or significant new risks highlighted.

Key Players & Entities

• IEH Corp (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• New York (location) — State of incorporation
• Brooklyn, NY (location) — Principal executive offices
• 3678 (other) — Standard Industrial Classification for Electronic Connectors

FAQ

Key Financial Figures

• $0.01 — ch Registered: Shares of common stock, $0.01 par value IEHC OTC Pink Market Indica
• $0 — vely. The provision for income taxes of $0 for the three months ended June 30, 202

Filing Documents

• ea0210384-10q_iehcorp.htm (10-Q) — 429KB
• ea021038401ex31-1_iehcorp.htm (EX-31.1) — 13KB
• ea021038401ex31-2_iehcorp.htm (EX-31.2) — 13KB
• ea021038401ex32-1_iehcorp.htm (EX-32.1) — 7KB
• 0001213900-24-067648.txt ( ) — 3112KB
• iehc-20240630.xsd (EX-101.SCH) — 35KB
• iehc-20240630_cal.xml (EX-101.CAL) — 27KB
• iehc-20240630_def.xml (EX-101.DEF) — 142KB
• iehc-20240630_lab.xml (EX-101.LAB) — 273KB
• iehc-20240630_pre.xml (EX-101.PRE) — 140KB
• ea0210384-10q_iehcorp_htm.xml (XML) — 290KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Balance Sheets as of June 30, 2024 (unaudited) and March 31, 202 4 1 Condensed Statements of Operations for the three months ended June 30, 2024 and 2023 (unaudited) 2 Condensed Statements of Changes in Shareholders' Equity for the three months ended June 30, 2024 and 2023 (unaudited) 3 Condensed Statements of Cash Flows for the three months ended June 30, 2024 and 2023 (unaudited) 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18

– OTHER INFORMATION

PART II – OTHER INFORMATION 19 Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosure s 19 Item 5. Other Information 19 Item 6. Exhibits 19 EXHIBIT INDEX 20

SIGNATURES

SIGNATURES 21 i CAUTIONARY NOTE FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"). Any statements contained in this report that are not statements of historical fact may be forward-looking statements. When we use the words "anticipates," "plans," "estimates," "expects," "believes," "should," "could," "may," "will" and similar expressions, we are identifying forward-looking statements. We have based these forward-looking affect our financial condition, results of operations, business strategy and financial needs. Forward-looking statements involve risks and uncertainties described under "Risk Factors" in Part II, Item 1A, and elsewhere in this Quarterly Report on Form 10-Q, and as set forth in Part 1, Item 1A, Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 14, 2024. Forward-looking statements may include statements related to, among other things: macroeconomic factors, including inflationary pressures, supply shortages and recessionary pressures; accounting estimates and assumptions; pricing pressures on our product caused by competition; the risk that our products will not gain market acceptance; our ability to obtain additional financing; our ability to successfully prevent our registration with the SEC from being suspended or revoked; our ability to operate our accounting systems effectively; our ability to protect intellectual property; our ability to integrate our satellite facility into our operations; and our ability to attract and retain key employees. No forward-looking

financial statements of "basic" and "diluted" earnings per share. Basic net income (loss) per common share is

financial statements of "basic" and "diluted" earnings per share. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the reporting period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus common stock equivalents (if dilutive). Basic and diluted net income (loss) per common share is calculated as follows: For the Three Months Ended June 30, 2024 2023 Net income (loss) $ 392,787 $ ( 1,315,902 ) Net income (loss) per common share: Basic $ 0.17 $ ( 0.56 ) Diluted $ 0.16 $ ( 0.56 ) Weighted average number of common shares outstanding-basic 2,380,251 2,370,251 Dilutive effect of options to the extent that such options are determined to be in the money for the period 21,402 - Weighted average number of common shares outstanding-fully diluted 2,401,653 2,370,251 Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive. For the Three Months Ended June 30, 2024 2023 Potentially dilutive options to purchase common shares 352,857 507,217 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and disclosure of contingent assets and liabilities at the date of the financial statements. The Company utilizes estimates with respect to determining the useful lives of fixed assets, the fair value of stock-based instruments, an incremental borrowing rate for determining for its leases the present value of lease payments, the calculation of inventory obsolescence, as well as determining the amount of the valuation allowance for deferred incom

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View this 10-Q filing on SEC EDGAR