Yunhong Green CTI Ltd. Files Q1 2024 10-Q

TL;DR

Yunhong Green CTI Ltd. filed its Q1 2024 10-Q, check financials.

AI Summary

Yunhong Green CTI Ltd. filed its quarterly report for the period ending March 31, 2024. The company, formerly known as CTI Industries Corp, is based in Barrington, Illinois. The filing includes financial data for the first quarter of 2024 and comparative periods in 2023.

Why It Matters

This filing provides investors with an update on Yunhong Green CTI Ltd.'s financial performance and position as of the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating immediate significant risk.

Key Numbers

• 2024-03-31 — Reporting Period End (As of March 31, 2024)
• 2023-12-31 — Prior Period End (As of December 31, 2023)
• 2023-03-31 — Prior Year Quarter End (As of March 31, 2023)

Key Players & Entities

• YUNHONG GREEN CTI LTD. (company) — Filer
• CTI INDUSTRIES CORP (company) — Former company name
• 20240331 (date) — Reporting period end date
• 20240925 (date) — Filing date
• 8473821000 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $000 — share data) rounded to nearest thousand $000 for presentation March 31, 2024 Dece

Filing Documents

• form10-q.htm (10-Q) — 668KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32.htm (EX-32) — 9KB
• 0001493152-24-038100.txt ( ) — 3535KB
• yhgj-20240331.xsd (EX-101.SCH) — 31KB
• yhgj-20240331_cal.xml (EX-101.CAL) — 41KB
• yhgj-20240331_def.xml (EX-101.DEF) — 149KB
• yhgj-20240331_lab.xml (EX-101.LAB) — 271KB
• yhgj-20240331_pre.xml (EX-101.PRE) — 204KB
• form10-q_htm.xml (XML) — 345KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item No. 3

Quantitative and Qualitative Disclosures Regarding Market Risk

Quantitative and Qualitative Disclosures Regarding Market Risk 15 Item No. 4

Controls and Procedures

Controls and Procedures 15

– OTHER INFORMATION

PART II – OTHER INFORMATION Item No. 1

Legal Proceedings

Legal Proceedings 16 Item No. 1A

Risk Factors

Risk Factors 16 Item No. 2 Unregistered Sales of Equity Securities and Use of Proceeds 16 Item No. 3 Defaults Upon Senior Securities 16 Item No. 4 Mine Safety Disclosures 16 Item No. 5 Other Information 16 Item No. 6 Exhibits 17

Signatures

Signatures 18 Exhibit 31.1 Exhibit 31.2 Exhibit 32 Table of Contents Yunhong Green CTI, LTD Unaudited Condensed Consolidated Balance Sheets Dollars (not share data) rounded to nearest thousand $000 for presentation March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 49,000 $ 921,000 Accounts receivable, net 4,398,000 3,975,000 Inventories 7,710,000 7,791,000 Prepaid expenses 394,000 332,000 Total current assets 12,551,000 13,019,000 Property, plant and equipment: Machinery and equipment 17,940,000 17,940,000 Office furniture and equipment 2,084,000 2,084,000 Intellectual property 783,000 783,000 Leasehold improvements 39,000 39,000 Fixtures and equipment at customer locations 519,000 519,000 Projects under construction 266,000 112,000 Property, plant and equipment gross 21,631,000 21,477,000 Less : accumulated depreciation and amortization ( 20,675,000 ) ( 20,613,000 ) Total property, plant and equipment, net 956,000 864,000 Other assets: Operating lease right-of-use 3,239,000 3,364,000 Total other assets 3,239,000 3,364,000 TOTAL ASSETS $ 16,746,000 $ 17,247,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade payables $ 964,000 $ 917,000 Line of credit 5,556,000 4,991,000 Notes payable - current portion 145,000 140,000 Notes payable - related party 344,000 1,344,000 Notes payable 344,000 1,344,000 Operating lease liabilities 532,000 522,000 Advances from investors - 2,000,000 Accrued liabilities 708,000 226,000 Total current liabilities 8,249,000 10,140,000 Long-term liabilities: Notes payable – net of current portion 512,000 533,000 Operating lease liabilities 2,707,000 2,842,000 Total long-term liabilities 3,219,000 3,375,000 TOTAL LIABILITIES 11,468,000 13,515,000 Shareholders' Equity: Yunhong CTI, Ltd shareholders' equity: Series E Preferred Stock — no par v

View Full Filing

View this 10-Q filing on SEC EDGAR