Yunhong Green CTI Ltd. Files Q3 2024 10-Q

TL;DR

Yunhong Green CTI Ltd. 10-Q filed for Q3 2024. Financials and preferred stock details updated.

AI Summary

Yunhong Green CTI Ltd. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and disclosures related to preferred stock and related party transactions are included.

Why It Matters

This filing provides investors with an update on Yunhong Green CTI Ltd.'s financial performance and position for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new risks indicated in the provided header information.

Key Numbers

• 2024-09-30 — Period End Date (Latest reported quarter)
• 2023-12-31 — Previous Year End Date (Comparison point for year-end balances)
• 2024-09-30 — Non-Related Party Balance Date (As of this date)
• 2023-12-31 — Non-Related Party Balance Date (As of this date)

Key Players & Entities

• YUNHONG GREEN CTI LTD. (company) — Filer
• 20240930 (date) — Period of Report
• 20241108 (date) — Filing Date
• CTI INDUSTRIES CORP (company) — Former Company Name

FAQ

Key Financial Figures

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

Filing Documents

• form10-q.htm (10-Q) — 766KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32.htm (EX-32) — 9KB
• 0001493152-24-044140.txt ( ) — 3782KB
• yhgj-20240930.xsd (EX-101.SCH) — 31KB
• yhgj-20240930_cal.xml (EX-101.CAL) — 41KB
• yhgj-20240930_def.xml (EX-101.DEF) — 149KB
• yhgj-20240930_lab.xml (EX-101.LAB) — 279KB
• yhgj-20240930_pre.xml (EX-101.PRE) — 205KB
• form10-q_htm.xml (XML) — 413KB

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Income (Loss) for the three and nine months ended September 30, 2024 and September 30, 2023 2 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and September 30, 2023 3 Unaudited Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2024 and September 30, 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item No. 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 13 Item No. 3

Quantitative and Qualitative Disclosures Regarding Market Risk

Quantitative and Qualitative Disclosures Regarding Market Risk 17 Item No. 4

Controls and Procedures

Controls and Procedures 17

– OTHER INFORMATION

PART II – OTHER INFORMATION Item No. 1

Legal Proceedings

Legal Proceedings 18 Item No. 1A

Risk Factors

Risk Factors 18 Item No. 2 Unregistered Sales of Equity Securities and Use of Proceeds 18 Item No. 3 Defaults Upon Senior Securities 19 Item No. 4 Mine Safety Disclosures 19 Item No. 5 Other Information 19 Item No. 6 Exhibits 19

Signatures

Signatures 20 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 September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 5,000 $ 921,000 Accounts receivable, net 2,196,000 3,975,000 Inventories, net 7,852,000 7,791,000 Prepaid expenses 355,000 332,000 Total current assets 10,408,000 13,019,000 Property, plant and equipment: Machinery and equipment 22,246,000 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 166,000 112,000 Property, plant and equipment gross 25,837,000 21,477,000 Less: accumulated depreciation and amortization ( 20,794,000 ) ( 20,613,000 ) Total property, plant and equipment, net 5,043,000 864,000 Other assets: Operating lease right-of-use asset 2,976,000 3,364,000 Prepaid expenses, non-current 2,192,000 - Total other assets 5,168,000 3,364,000 TOTAL ASSETS $ 20,619,000 $ 17,247,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade payables $ 1,568,000 $ 917,000 Line of credit 4,062,000 4,991,000 Notes payable - current portion 159,000 140,000 Notes payable – related party 344,000 1,344,000 Notes payable 344,000 1,344,000 Operating lease liabilities 554,000 522,000 Advances from investors 585,000 2,000,000 Accrued liabilities 525,000 226,000 Total current liabilities 7,797,000 10,140,000 Long-term liabilities: Notes payable – net of current portion 467,000 533,000 Operating lease liabilities – noncurrent 2,422,000 2,842,000 Total long-term liabilities 2,889,000 3,375,000 TOTAL LIABILITIES 10,686,000 13,515,000 Stockholders' Equit

View Full Filing

View this 10-Q filing on SEC EDGAR