Retractable Technologies Inc. Q2 2024 10-Q Filed

TL;DR

RVP 10-Q is in: Equity accounts like preferred stock, treasury stock, retained earnings, and APIC updated as of Q2 2024.

AI Summary

Retractable Technologies Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial information including preferred stock, treasury stock, retained earnings, and additional paid-in capital as of June 30, 2024, March 31, 2024, and December 31, 2023. Specific dollar amounts for these accounts are provided within the filing.

Why It Matters

This filing provides investors with a quarterly update on Retractable Technologies Inc.'s financial health, including changes in equity accounts, which can influence stock valuation and investment decisions.

Risk Assessment

Risk Level: low — This filing is a routine quarterly financial report and does not contain immediate news that would significantly alter the company's risk profile.

Key Numbers

• N/A — Preferred Stock (Details provided for SeriesTwoConvertibleClassB and SeriesThreeConvertibleClassB preferred stock as of various dates.)
• N/A — Treasury Stock (Common stock held in treasury reported as of various dates.)
• N/A — Retained Earnings (Accumulated profits reported as of various dates.)
• N/A — Additional Paid-In Capital (Capital contributed above par value reported as of various dates.)

Key Players & Entities

• Retractable Technologies Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of reporting period
• 2024-03-31 (date) — Previous quarter end
• 2023-12-31 (date) — Prior fiscal year end

FAQ

Filing Documents

• tmb-20240630x10q.htm (10-Q) — 1383KB
• tmb-20240630xex31d1.htm (EX-31.1) — 14KB
• tmb-20240630xex31d2.htm (EX-31.2) — 14KB
• tmb-20240630xex32.htm (EX-32) — 8KB
• 0001558370-24-012200.txt ( ) — 6736KB
• tmb-20240630.xsd (EX-101.SCH) — 39KB
• tmb-20240630_cal.xml (EX-101.CAL) — 51KB
• tmb-20240630_def.xml (EX-101.DEF) — 144KB
• tmb-20240630_lab.xml (EX-101.LAB) — 337KB
• tmb-20240630_pre.xml (EX-101.PRE) — 239KB
• tmb-20240630x10q_htm.xml (XML) — 1493KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 CONDENSED BALANCE SHEETS 1 CONDENSED STATEMENTS OF OPERATIONS 2 CONDENSED STATEMENTS OF CASH FLOWS 3 CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY 4 NOTES TO 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 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 5. Other Information 22 Item 6. Exhibits 22

SIGNATURES

SIGNATURES 23 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. RETRACTABLE TECHNOLOGIES, INC. CONDENSED BALANCE SHEETS (unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 6,853,067 $ 12,667,550 Accounts receivable, net 4,690,228 10,671,721 Investments in debt and equity securities, at fair value 35,051,499 34,621,213 Inventories 22,018,265 17,581,368 Income taxes receivable 1,078,117 1,155,077 Other current assets 877,335 952,668 Total current assets 70,568,511 77,649,597 Property, plant, and equipment, net 90,049,927 93,478,521 Deferred tax asset — 8,392,030 Other assets 125,982 152,064 Total assets $ 160,744,420 $ 179,672,212 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,114,068 $ 4,779,035 Current portion of long-term debt 317,991 303,991 Accrued compensation 936,137 865,105 Dividends payable 1,417,437 1,417,437 Accrued royalties to shareholder 596,203 1,376,555 Other accrued liabilities 1,037,693 630,571 Income taxes payable 3,311 4,802 Total current liabilities 7,422,840 9,377,496 Other long-term liabilities 66,813,843 69,773,538 Long-term debt, net of current maturities 1,070,556 1,233,519 Total liabilities 75,307,239 80,384,553 Commitments and contingencies – see Note 10 Stockholders' equity: Preferred stock, $ 1 par value: Class B; authorized: 5,000,000 shares Series II, Class B 156,200 156,200 Series III, Class B 74,245 74,245 Common Stock, no par value — — Additional paid-in capital 73,160,333 73,160,333 Retained earnings 24,935,081 38,785,559 Common stock in treasury – at cost ( 12,888,678 ) ( 12,888,678 ) Total stockholders' equity 85,437,181 99,287,659 Total liabilities and stockholders' equity $ 160,744,420 $ 179,672,212 See accompanying notes to condensed unaudited financial statements 1 Table of Contents RETRACTABLE TECHNOLOGIES,

View Full Filing

View this 10-Q filing on SEC EDGAR