Retractable Technologies Inc. Files Q3 2024 10-Q

TL;DR

RVP Q3 10-Q filed. Financials look stable, check preferred stock and retained earnings.

AI Summary

Retractable Technologies Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial positions including preferred stock, treasury stock, and retained earnings as of September 30, 2024, and comparative periods. Key financial data points from prior periods are also presented.

Why It Matters

This filing provides investors with the latest financial snapshot of Retractable Technologies Inc., crucial for understanding the company's performance and financial health.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 0000946563 — Central Index Key (Unique identifier for Retractable Technologies Inc.)
• TX — State of Incorporation (Legal domicile of the company.)

Key Players & Entities

• RETRACTABLE TECHNOLOGIES INC (company) — Filer
• 2024-09-30 (date) — End of reporting period
• 2024-06-30 (date) — Comparative period end
• 2023-12-31 (date) — Prior fiscal year end

FAQ

Filing Documents

• tmb-20240930x10q.htm (10-Q) — 1389KB
• tmb-20240930xex31d1.htm (EX-31.1) — 14KB
• tmb-20240930xex31d2.htm (EX-31.2) — 14KB
• tmb-20240930xex32.htm (EX-32) — 8KB
• 0001558370-24-015682.txt ( ) — 6739KB
• tmb-20240930.xsd (EX-101.SCH) — 39KB
• tmb-20240930_cal.xml (EX-101.CAL) — 51KB
• tmb-20240930_def.xml (EX-101.DEF) — 144KB
• tmb-20240930_lab.xml (EX-101.LAB) — 335KB
• tmb-20240930_pre.xml (EX-101.PRE) — 239KB
• tmb-20240930x10q_htm.xml (XML) — 1491KB

– 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 22 Item 4.

Controls and Procedures

Controls and Procedures 22

—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 23

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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 3,917,246 $ 12,667,550 Accounts receivable, net 8,674,774 10,671,721 Investments in debt and equity securities, at fair value 32,782,319 34,621,213 Inventories 21,301,008 17,581,368 Income taxes receivable 1,111,851 1,155,077 Other current assets 968,949 952,668 Total current assets 68,756,147 77,649,597 Property, plant, and equipment, net 88,936,910 93,478,521 Deferred tax asset — 8,392,030 Other assets 114,803 152,064 Total assets $ 157,807,860 $ 179,672,212 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,251,331 $ 4,779,035 Current portion of long-term debt 325,155 303,991 Accrued compensation 809,937 865,105 Dividends payable 1,417,437 1,417,437 Accrued royalties to shareholder 884,570 1,376,555 Other accrued liabilities 1,325,080 630,571 Income taxes payable 5,864 4,802 Total current liabilities 8,019,374 9,377,496 Other long-term liabilities 65,344,155 69,773,538 Long-term debt, net of current maturities 986,750 1,233,519 Total liabilities 74,350,279 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 22,955,481 38,785,559 Common stock in treasury – at cost ( 12,888,678 ) ( 12,888,678 ) Total stockholders' equity 83,457,581 99,287,659 Total liabilities and stockholders' equity $ 157,807,860 $ 179,672,212 See accompanying notes to condensed unaudited financial statements 1 Table of Contents RETRACTABLE TECHNOLOGIE

View Full Filing

View this 10-Q filing on SEC EDGAR