PCS Edventures!, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>PCS Edventures!, Inc. has filed its Q3 2024 10-Q report detailing financial performance up to December 31, 2023.</b>

AI Summary

PCS Edventures!, Inc. (PCSV) filed a Quarterly Report (10-Q) with the SEC on February 16, 2024. PCS Edventures! filed a 10-Q for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. The filing includes financial data for periods ending December 31, 2023, and comparative periods. Key financial statement components like common stock, additional paid-in capital, and retained earnings are detailed for various dates.

Why It Matters

For investors and stakeholders tracking PCS Edventures!, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial snapshot of PCS Edventures!, Inc., crucial for understanding the company's performance and financial health. The detailed financial data allows stakeholders to track trends in equity, capital, and retained earnings, informing investment decisions.

Risk Assessment

Risk Level: low — PCS Edventures!, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies in the educational services sector.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess the company's revenue trends, profitability, and balance sheet strength.

Key Numbers

• 2023-12-31 — Period End Date (Reported period)
• 2024-02-16 — Filing Date (Date the report was filed)
• 2023-03-31 — Fiscal Year End (Company's fiscal year end)
• 2023-10-01 — Q3 Start Date (Beginning of the third quarter of fiscal year 2024)
• 2023-12-31 — Q3 End Date (End of the third quarter of fiscal year 2024)

Key Players & Entities

• PCS Edventures!, Inc. (company) — Filer name
• 2023-12-31 (date) — Period of report
• 2024-02-16 (date) — Filing date
• 8200 (other) — Standard Industrial Classification for Educational Services
• 820475383 (other) — IRS Number
• ID (other) — State of Incorporation
• 0331 (other) — Fiscal Year End
• 1934 Act (other) — SEC Act

FAQ

Key Dates

• 2023-12-31: Period End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-02-16: Filing Date — The date PCS Edventures!, Inc. submitted its 10-Q to the SEC.
• 2023-10-01: Start of Q3 FY2024 — Beginning of the fiscal third quarter for which results are reported.
• 2023-03-31: Fiscal Year End — Indicates the company's annual financial reporting cycle.

Filing Documents

• form10-q.htm (10-Q) — 674KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32.htm (EX-32) — 9KB
• 0001493152-24-006949.txt (&nbsp;) — 3518KB
• pcsv-20231231.xsd (EX-101.SCH) — 29KB
• pcsv-20231231_cal.xml (EX-101.CAL) — 47KB
• pcsv-20231231_def.xml (EX-101.DEF) — 66KB
• pcsv-20231231_lab.xml (EX-101.LAB) — 261KB
• pcsv-20231231_pre.xml (EX-101.PRE) — 208KB
• form10-q_htm.xml (XML) — 384KB

Financial Statements (unaudited)

Financial Statements (unaudited) 4 Balance Sheets as of December 31, 2023 (unaudited), and March 31, 2023 5 6 7 8

Notes to Financial Statements (unaudited)

Notes to Financial Statements (unaudited) 9 ITEM 2,

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

Management's Discussion and Analysis of Financial Conditions and Results of Operations 18 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 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. EXHIBIT INDEX 24

SIGNATURES

SIGNATURES 25 3 PART I –FINANCIAL INFORMATION PART I – FINANCIAL INFORMATION Item 1. Financial Statements The Financial Statements of the Registrant required to be filed with this 10-Q Quarterly Report were prepared by management and commence below, together with related notes. In the opinion of management, the Financial Statements fairly present the financial condition of the Registrant. (This space intentionally left blank.) 4 PCS EDVENTURES!, INC. Balance Sheets December 31, 2023 (Unaudited) March 31, 2023 (Audited) CURRENT ASSETS Cash $ 2,006,618 $ 442,657 Accounts receivable, net of allowance for doubtful accounts of $ 18,469 149,121 363,947 Accounts receivable, other receivables 45,370 13,312 Prepaid expenses 954,917 436,118 Inventory, net 1,794,416 1,237,872 Total Current Assets 4,950,442 2,493,906 NONCURRENT ASSETS Lease Right-of-Use Asset 301,569 173,352 Deposits 6,300 6,300 Property and equipment, net 39,766 31,533 Deferred tax asset 1,011,466 1,011,466 Total Noncurrent Assets 1,359,101 1,222,651 TOTAL ASSETS $ 6,309,543 $ 3,716,557 CURRENT LIABILITIES Accounts payable $ 364,436 $ 27,927 Payroll liabilities and accrued expenses 108,358 226,231 Deferred revenue 51,185 7,085 Lease Liability, current portion 90,657 103,026 Total Current Liabilities 614,636 364,269 Lease Liability, net of current portion 222,448 72,726 Total Noncurrent Liabilities 222,448 72,726 TOTAL LIABILITIES 837,084 436,995 STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock, no par value, 20,000,000 authorized shares, no shares issued and outstanding - - Common stock, no par value, 150,000,000 authorized shares, 124,733,494 and 125,732,479 shares issued and outstanding - - Additional Paid-in Capital 40,570,459 40,635,392 Accumulated deficit ( 35,098,000 ) ( 37,355,830 ) Total Stockholders' Equity 5,472,459 3,279,562 TOTAL LIABILITIES AND STOCKHOLDERS' EQUI

financial statements presented are those of PCS Edventures!, Inc., an Idaho corporation (the "Company," "PCS,"

financial statements presented are those of PCS Edventures!, Inc., an Idaho corporation (the "Company," "PCS," "PCSV," "we," "our," "us" or similar words), incorporated in 1994, in the State of Idaho. PCS specializes in experiential, hands-on, K12 education and drone technology. PCS has extensive experience and intellectual property (IP) that includes drone hardware, product designs, and K-12 curriculum content. PCS continually develops new educational products based upon market needs that the Company identifies through its sales and customer networks. Our products facilitate STEM education by providing engaging activities that demonstrate STEM concepts and inspire further STEM studies, with the goal of ultimately leading students to pursue STEM career pathways. Due to our exceptionally detailed curriculum, our products are easy to teach and do not require a teaching degree or experience to administer. Our educational products are developed from both in-house efforts and contracted services. They are marketed through reseller channels, direct sales efforts, partner networks, and web-based channels. PCS has developed and sells a variety of STEM education products into the K12 market which can be categorized as follows: 1. Enrichment Programs These camps are for the informal learning market and are designed to be highly engaging for students while easily administered by the instructor. The Company offers approximately thirty (30) different enrichment programs and typically develops at least two (2) new programs each year. Some of the more popular programs include Ready, Set, Drone!; Traveling Artist; Unleash Your Wild Side, Build a Better World; Claymation; Oceanic Exploration; Pirate; and Flight and Aerodynamics. 2. Discover Series Products These products are designed for the makerspace environment and include engaging STEM activities that motivate students to pursue educational pathways toward STEM careers. The Discover Series includes Discover Enginee

Business

Business Segments and Related Information GAAP establishes standards for the way public business enterprises are to report information about operating segments in annual financial It also establishes standards for related disclosure about products and services, geographic areas and major customers. The Company currently operates in one business segment. Net Earnings (Loss) Per Share of Common Stock The Company calculates net income (loss) per share in accordance with ASC 260, Earnings Per Share ("ASC 260"). Under ASC 260, basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The weighted average number of shares of common stock outstanding includes vested restricted stock awards. Diluted net income (loss) per share ("EPS") reflects the potential dilution that could occur assuming exercise of all dilutive unexercised stock options and warrants. The dilutive effect of these instruments was determined using the treasury stock method. Under the treasury stock method, the proceeds received from the exercise of stock options and restricted stock awards, the amount of compensation cost for future service not yet recognized by the Company and the amount of tax benefits that would be recorded as income tax expense when the stock options become deductible for income tax purposes are all assumed to be used to repurchase shares of the Company's common stock. 12 Common stock outstanding reflected in the Company's balance sheets includes restricted stock awards outstanding. Securities that may participate in undistributed net income with common stock are considered participating securities. The computation of diluted earnings per share does not assume exercise or conversion of securities that would have an ant

View Full Filing

View this 10-Q filing on SEC EDGAR