Yunhong Green CTI Ltd. Files Q2 2024 10-Q

TL;DR

YUNHONG GREEN CTI LTD (CTIB) filed its 10-Q for Q2 2024. Check preferred stock and related party details.

AI Summary

Yunhong Green CTI Ltd. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as CTI Industries Corp, is incorporated in Illinois and operates in the fabricated rubber products sector. Key financial data points and related party transactions for the periods ending June 30, 2024, and December 31, 2023, are detailed within the filing.

Why It Matters

This filing provides investors with an update on Yunhong Green CTI Ltd.'s financial performance and position as of mid-2024, including details on preferred stock and related party transactions.

Risk Assessment

Risk Level: medium — The filing contains details on preferred stock and related party transactions, which can introduce complexity and potential risks.

Key Numbers

• 2024-06-30 — Period End Date (Latest reported period for the 10-Q)
• 2023-12-31 — Prior Period End Date (Comparison period for financial data)

Key Players & Entities

• YUNHONG GREEN CTI LTD. (company) — Filer
• CTI INDUSTRIES CORP (company) — Former company name
• 20240630 (date) — Period of report
• 20240926 (date) — Filing date

FAQ

Key Financial Figures

• $000 — share data) rounded to nearest thousand $000 for presentation June 30, 2024 Decem

Filing Documents

• form10-q.htm (10-Q) — 899KB
• ex31-1.htm (EX-31.1) — 9KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32.htm (EX-32) — 8KB
• 0001493152-24-038294.txt ( ) — 3828KB
• yhgj-20240630.xsd (EX-101.SCH) — 30KB
• yhgj-20240630_cal.xml (EX-101.CAL) — 40KB
• yhgj-20240630_def.xml (EX-101.DEF) — 146KB
• yhgj-20240630_lab.xml (EX-101.LAB) — 274KB
• yhgj-20240630_pre.xml (EX-101.PRE) — 201KB
• form10-q_htm.xml (XML) — 385KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item No. 3

Quantitative and Qualitative Disclosures Regarding Market Risk

Quantitative and Qualitative Disclosures Regarding Market Risk 16 Item No. 4

Controls and Procedures

Controls and Procedures 16

– OTHER INFORMATION

PART II – OTHER INFORMATION Item No. 1

Legal Proceedings

Legal Proceedings 17 Item No. 1A

Risk Factors

Risk Factors 17 Item No. 2 Unregistered Sales of Equity Securities and Use of Proceeds 17 Item No. 3 Defaults Upon Senior Securities 18 Item No. 4 Mine Safety Disclosures 18 Item No. 5 Other Information 18 Item No. 6 Exhibits 18

Signatures

Signatures 19 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 June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 22,000 $ 921,000 Accounts receivable, net 3,430,000 3,975,000 Inventories, net 7,444,000 7,791,000 Prepaid expenses 353,000 332,000 Total current assets 11,249,000 13,019,000 Property, plant and equipment: Machinery and equipment 22,066,000 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 318,000 112,000 Property, plant and equipment gross 25,809,000 21,477,000 Less: accumulated depreciation and amortization ( 20,733,000 ) ( 20,613,000 ) Total property, plant and equipment, net 5,076,000 864,000 Other assets: Operating lease right-of-use asset 3,108,000 3,364,000 Prepaid expenses, non-current 2,192,000 - Total other assets 5,300,000 3,364,000 TOTAL ASSETS $ 21,625,000 $ 17,247,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade payables $ 847,000 $ 917,000 Line of credit 4,788,000 4,991,000 Notes payable - current portion 153,000 140,000 Notes payable – related party 344,000 1,344,000 Notes payable 344,000 1,344,000 Operating lease liabilities 543,000 522,000 Advances from investors - 2,000,000 Accrued liabilities 775,000 226,000 Total current liabilities 7,450,000 10,140,000 Long-term liabilities: Notes payable – net of current portion 490,000 533,000 Operating lease liabilities – noncurrent 2,565,000 2,842,000 Total long-term liabilities 3,055,000 3,375,000 TOTAL LIABILITIES 10,505,000 13,515,000 Stockholders' Equity: Series

View Full Filing

View this 10-Q filing on SEC EDGAR