Moving iMage Technologies Files Q2 2024 10-Q
Ticker: MITQ · Form: 10-Q · Filed: Feb 13, 2025 · CIK: 1770236
| Field | Detail |
|---|---|
| Company | Moving Image Technologies INC. (MITQ) |
| Form Type | 10-Q |
| Filed Date | Feb 13, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
**MITG Q2 10-Q filed. Financials updated.**
AI Summary
Moving iMage Technologies, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of their fiscal year. Specific financial details like retained earnings and additional paid-in capital are presented for various dates throughout 2023 and 2024.
Why It Matters
This filing provides investors with an update on the company's financial health and performance for the second quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 20241231 — Period End Date (Latest reported fiscal quarter end)
- 20250213 — Filing Date (Date the report was submitted to the SEC)
Key Players & Entities
- MOVING iMAGE TECHNOLOGIES INC. (company) — Filer
- 20241231 (date) — Period of Report
- 20250213 (date) — Filing Date
- 17760 NEWHOPE STREET, FOUNTAIN VALLEY, CA 92708 (address) — Business and Mail Address
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20241231, indicating the filing covers the period ending December 31, 2024.
When was this 10-Q filed with the SEC?
The filing date (FILED AS OF DATE) is 20250213.
What is the company's primary business address?
The business address is 17760 NEWHOPE STREET, FOUNTAIN VALLEY, CA 92708.
What is the Standard Industrial Classification code for Moving iMage Technologies Inc.?
The SIC code is 3861, which corresponds to PHOTOGRAPHIC EQUIPMENT & SUPPLIES.
What fiscal year end does Moving iMage Technologies Inc. report?
The company's fiscal year ends on 0630.
Filing Stats: 4,508 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2025-02-13 11:15:06
Key Financial Figures
- $0.00001 — ange on which registered Common Stock, $0.00001 par value MITQ NYSE American Indi
Filing Documents
- mitq-20241231x10q.htm (10-Q) — 1077KB
- mitq-20241231xex31d1.htm (EX-31.1) — 13KB
- mitq-20241231xex31d2.htm (EX-31.2) — 13KB
- mitq-20241231xex32d1.htm (EX-32.1) — 7KB
- 0001770236-25-000008.txt ( ) — 5260KB
- mitq-20241231.xsd (EX-101.SCH) — 34KB
- mitq-20241231_cal.xml (EX-101.CAL) — 52KB
- mitq-20241231_def.xml (EX-101.DEF) — 128KB
- mitq-20241231_lab.xml (EX-101.LAB) — 346KB
- mitq-20241231_pre.xml (EX-101.PRE) — 252KB
- mitq-20241231x10q_htm.xml (XML) — 948KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION ITEM 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of December 31 2024 (unaudited) and June 30, 2024 3 Condensed Consolidated Statements of Operations (unaudited) for the three and six months ended December 31, 2024 and 2023 4 Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) for the three and six months ended December 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the six months ended December 31, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 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 16 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 ITEM 4.
Controls and Procedures
Controls and Procedures 23
- OTHER INFORMATION
PART II - OTHER INFORMATION 23 ITEM 1.
Legal Proceedings
Legal Proceedings 23 ITEM 1A.
Risk Factors
Risk Factors 23 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 ITEM 3. Defaults Upon Senior Securities 24 ITEM 4. Mine Safety Disclosures 24 ITEM 5. Other Information 24 ITEM 6. Exhibits 24
SIGNATURES
SIGNATURES 25 2 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands except share and per share amounts) December 31, June 30, 2024 2024 (unaudited) Assets Current Assets: Cash $ 5,316 $ 5,278 Accounts receivable, net 749 1,048 Inventories, net 2,121 3,117 Prepaid expenses and other 202 470 Total Current Assets 8,388 9,913 Long-Term Assets: Right-of-use asset 1,206 144 Property and equipment, net 21 28 Intangibles, net 393 422 Other assets 23 16 Total Long-Term Assets 1,643 610 Total Assets $ 10,031 $ 10,523 Liabilities And Stockholders' Equity Current Liabilities: Accounts payable $ 1,642 $ 2,261 Accrued expenses 406 320 Customer refunds 423 399 Customer deposits 1,057 1,651 Lease liability–current 206 151 Unearned warranty revenue 65 31 Total Current Liabilities 3,799 4,813 Long-Term Liabilities: Lease liability–non-current 1,037 — Total Long-Term Liabilities 1,037 — Total Liabilities 4,836 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 December 31, 2024 and June 30, 2024, respectively — — Additional paid-in capital 12,003 11,965 Accumulated deficit ( 6,808 ) ( 6,255 ) Total Stockholders' Equity 5,195 5,710 Total Liabilities and Stockholders' Equity $ 10,031 $ 10,523 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands except share and per share amounts) (unaudited) Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Net sales $ 3,441 $ 3,265 $ 8,693 $ 9,900 Cost of goods sold 2,505 2,506 6,386 7,3