Precision Optics Files Q2 10-Q

TL;DR

**POCI files Q2 10-Q for period ending 12/31/24. All systems go.**

AI Summary

Precision Optics Corporation, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of their fiscal year, which began on July 1, 2024. The company is based in Gardner, MA, and operates in the electromedical and electrotherapeutic apparatus industry.

Why It Matters

This filing provides investors with an update on Precision Optics Corporation's financial performance and operational status for the second quarter of their fiscal year.

Risk Assessment

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

Key Numbers

• 2024-12-31 — Period End Date (The 10-Q covers financial data up to this date.)
• 2025-02-13 — Filing Date (The date the report was submitted to the SEC.)
• 0630 — Fiscal Year End (Indicates the company's fiscal year concludes on June 30th.)

Key Players & Entities

• PRECISION OPTICS CORPORATION, INC. (company) — Filer
• 2024-12-31 (date) — Period of Report
• 2025-02-13 (date) — Filing Date
• Gardner, MA (location) — Company Address
• 978-630-1800 (phone) — Business Phone

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value POCI Nasdaq Indicate by c
• $2,600,000 — gh, Massachusetts, which provided for a $2,600,000 Term Loan and a $250,000 Revolving Line
• $250,000 — ovided for a $2,600,000 Term Loan and a $250,000 Revolving Line of Credit Loan Facility
• $500,000 — the "Revolver"), which was increased to $500,000 effective May 17, 2022, and $1,250,000
• $1,250,000 — to $500,000 effective May 17, 2022, and $1,250,000 effective June 2, 2023. Borrowings unde

Filing Documents

• poci_i10q-123124.htm (10-Q) — 474KB
• poci_ex3101.htm (EX-31.1) — 8KB
• poci_ex3102.htm (EX-31.2) — 8KB
• poci_ex3201.htm (EX-32.1) — 4KB
• 0001683168-25-000995.txt ( ) — 3126KB
• poci-20241231.xsd (EX-101.SCH) — 21KB
• poci-20241231_cal.xml (EX-101.CAL) — 41KB
• poci-20241231_def.xml (EX-101.DEF) — 72KB
• poci-20241231_lab.xml (EX-101.LAB) — 247KB
• poci-20241231_pre.xml (EX-101.PRE) — 195KB
• poci_i10q-123124_htm.xml (XML) — 364KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets at December 31, 2024 and June 30, 2024 3 Consolidated Statements of Operations for the Three Months Ended December 31, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity for the Three Months Ended December 31, 2024 and 2023 5 Consolidated Statements of Cash Flows for the Three Months Ended December 31, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 18

Controls and Procedures

Item 4. Controls and Procedures 19

OTHER INFORMATION

PART II OTHER INFORMATION 20

Legal Proceedings

Item 1. Legal Proceedings 20

Risk Factors

Item 1A. Risk Factors 20

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 20

Mine Safety Disclosures (Not applicable)

Item 4. Mine Safety Disclosures (Not applicable) 20

Other Information

Item 5. Other Information 20

Exhibits

Item 6. Exhibits 21 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. PRECISION OPTICS CORPORATION, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) December 31, June 30, 2024 2024 ASSETS Current Assets: Cash and cash equivalents $ 212,441 $ 405,278 Accounts receivable, net of allowance for credit losses of $ 121,901 at December 31, 2024 and $ 118,872 at June 30, 2024 3,506,395 3,545,491 Inventories, net 3,847,827 2,868,100 Prepaid expenses 275,041 299,364 Total current assets 7,841,704 7,118,233 Fixed Assets: Machinery and equipment 3,292,852 3,341,194 Leasehold improvements 823,191 810,914 Furniture and fixtures 506,660 416,425 Total fixed assets 4,622,703 4,568,533 Less—accumulated depreciation and amortization 4,172,446 4,074,960 Net fixed assets 450,257 493,573 Operating lease right-to-use asset 101,946 189,999 Patents, net 292,474 286,559 Goodwill 8,824,210 8,824,210 Total other assets 9,218,630 9,300,768 TOTAL ASSETS $ 17,510,591 $ 16,912,574 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Revolving line of credit $ 900,000 $ 1,000,000 Current portion of capital lease obligation 36,622 41,113 Current maturities of long-term debt 427,763 276,928 Accounts payable 2,738,104 1,397,313 Contract liabilities 1,417,933 1,172,350 Accrued compensation and other 791,037 840,662 Operating lease liability 101,946 178,450 Total current liabilities 6,413,405 4,906,816 Capital lease obligation, net of current portion 9,270 27,369 Long-term debt, net of current maturities and debt issuance costs 1,611,944 1,899,052 Operating lease liability, net of current portion – 11,549 Total liabilities 8,034,619 6,844,786 Stockholders' Equity: Common stock, $ 0.01 par value: 50,000,000 shares authorized; issued and outstanding – 6,355,534 shares at December 31, 2024 and 6,073,939 at June 30, 2024 63,555 60,739 Additional paid-in capital 62,883,729 61,197,433 Accumulated deficit

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View this 10-Q filing on SEC EDGAR