Coretec Group Inc Financials
Financial Health Signals
Coretec Group Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Coretec Group Inc generates $0.79 in operating cash flow (-$1.8M OCF vs -$2.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Coretec Group Inc (CRTG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 23 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Coretec Group Inc generated $0 in revenue in fiscal year 2023.
Coretec Group Inc generated -$1.9M in free cash flow in fiscal year 2023, representing cash available after capex. This represents an increase of 3.0% from the prior year.
Coretec Group Inc reported -$2.3M in net income in fiscal year 2023. This represents an increase of 19.4% from the prior year.
Coretec Group Inc held $524K in cash against $1.0M in long-term debt as of fiscal year 2023.
Coretec Group Inc had 284M shares outstanding in fiscal year 2023. This represents an increase of 5.7% from the prior year.
Coretec Group Inc invested $513K in research and development in fiscal year 2023. This represents a decrease of 4.3% from the prior year.
Coretec Group Inc invested $53K in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents a decrease of 34.1% from the prior year.
CRTG Income Statement
| Metric | Q2'24 | Q1'24 | Q2'23 | Q3'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $60K-51.2% | $122K-31.4% | $179K+76.6% | $101K-9.7% | $112K-17.3% | $135K+68.8% | $80K-34.2% | $122K |
| SG&A Expenses | $235K-34.4% | $358K-57.0% | $833K+172.7% | $306K-12.0% | $347K-63.9% | $961K+219.1% | $301K-31.3% | $438K |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $40K-10.6% | $45K-20.7% | $56K+3.0% | $54K+0.8% | $54K-0.7% | $54K+3.1% | $53K+11.3% | $47K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$334K+36.2% | -$524K+39.7% | -$869K-90.4% | -$457K+10.0% | -$507K+55.7% | -$1.1M-165.3% | -$432K+28.9% | -$607K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CRTG Balance Sheet
| Metric | Q2'24 | Q1'24 | Q2'23 | Q3'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3M+4.8% | $1.3M-27.1% | $1.8M-24.5% | $2.3M-25.4% | $3.1M-13.6% | $3.6M-11.2% | $4.1M-6.5% | $4.4M |
| Current Assets | $290K+42.5% | $203K-69.0% | $657K-45.5% | $1.2M-39.7% | $2.0M-19.0% | $2.5M-15.0% | $2.9M-8.5% | $3.2M |
| Cash & Equivalents | $4K-96.1% | $115K-78.0% | $524K-48.6% | $1.0M-47.5% | $1.9M-17.5% | $2.4M-15.1% | $2.8M-10.6% | $3.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $166K0.0% | $166K0.0% | $166K0.0% | $166K0.0% | $166K0.0% | $166K0.0% | $166K0.0% | $166K |
| Total Liabilities | $2.0M+17.7% | $1.7M+2.3% | $1.7M-13.9% | $1.9M+6.1% | $1.8M+0.8% | $1.8M0.0% | $1.8M+8.0% | $1.7M |
| Current Liabilities | $1.6M+135.4% | $679K+4.9% | $647K-3.6% | $672K+51.3% | $444K+17.3% | $378K-4.1% | $395K-11.0% | $443K |
| Long-Term Debt | $390K-61.4% | $1.0M+0.6% | $1.0M-19.4% | $1.2M-8.7% | $1.4M-3.6% | $1.4M | N/A | N/A |
| Total Equity | -$643K-58.7% | -$405K-467.8% | $110K-73.5% | $415K-68.5% | $1.3M-27.8% | $1.8M-20.0% | $2.3M-15.5% | $2.7M |
| Retained Earnings | -$19.5M-1.7% | -$19.2M-2.8% | -$18.7M-4.9% | -$17.8M-5.5% | -$16.9M-3.1% | -$16.3M-7.5% | -$15.2M-2.9% | -$14.8M |
CRTG Cash Flow Statement
| Metric | Q2'24 | Q1'24 | Q2'23 | Q3'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$312K+13.6% | -$362K+40.1% | -$604K-47.4% | -$410K-7.2% | -$382K+22.3% | -$492K-2.3% | -$481K-23.5% | -$389K |
| Capital Expenditures | N/A | N/A | $7K+46.5% | $5K | $0 | $0-100.0% | $7K-89.6% | $67K |
| Free Cash Flow | N/A | N/A | -$611K-47.4% | -$415K-8.4% | -$382K+22.3% | -$492K-0.9% | -$488K-6.8% | -$457K |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $0+100.0% | -$7K | N/A |
| Financing Cash Flow | $202K+527.6% | -$47K-142.7% | $111K+827.5% | -$15K+50.2% | -$30K-142.1% | $72K-54.7% | $160K | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CRTG Financial Ratios
| Metric | Q2'24 | Q1'24 | Q2'23 | Q3'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -24.9%+16.0pp | -40.8%+8.5pp | -49.4%-29.8pp | -19.6%-3.4pp | -16.2%+15.4pp | -31.6%-21.1pp | -10.6%+3.3pp | -13.9% |
| Current Ratio | 0.18-0.1 | 0.30-0.7 | 1.01-0.8 | 1.80-2.7 | 4.51-2.0 | 6.53-0.8 | 7.36+0.2 | 7.16 |
| Debt-to-Equity | -0.61+1.9 | -2.49-11.6 | 9.11+6.1 | 3.00+2.0 | 1.03+0.3 | 0.77-0.0 | 0.78+0.2 | 0.61 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Coretec Group Inc's annual revenue?
Coretec Group Inc (CRTG) reported $0 in total revenue for fiscal year 2023. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Coretec Group Inc profitable?
No, Coretec Group Inc (CRTG) reported a net income of -$2.3M in fiscal year 2023.
How much debt does Coretec Group Inc have?
As of fiscal year 2023, Coretec Group Inc (CRTG) had $524K in cash and equivalents against $1.0M in long-term debt.
What is Coretec Group Inc's free cash flow?
Coretec Group Inc (CRTG) generated -$1.9M in free cash flow during fiscal year 2023. This represents a 3.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Coretec Group Inc's operating cash flow?
Coretec Group Inc (CRTG) generated -$1.8M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Coretec Group Inc's total assets?
Coretec Group Inc (CRTG) had $1.8M in total assets as of fiscal year 2023, including both current and long-term assets.
What are Coretec Group Inc's capital expenditures?
Coretec Group Inc (CRTG) invested $53K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
How much does Coretec Group Inc spend on research and development?
Coretec Group Inc (CRTG) invested $513K in research and development during fiscal year 2023.
How many shares does Coretec Group Inc have outstanding?
Coretec Group Inc (CRTG) had 284M shares outstanding as of fiscal year 2023.
What is Coretec Group Inc's current ratio?
Coretec Group Inc (CRTG) had a current ratio of 1.01 as of fiscal year 2023, which is considered adequate.
What is Coretec Group Inc's debt-to-equity ratio?
Coretec Group Inc (CRTG) had a debt-to-equity ratio of 9.11 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Coretec Group Inc's return on assets (ROA)?
Coretec Group Inc (CRTG) had a return on assets of -131.0% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Coretec Group Inc's cash runway?
Based on fiscal year 2023 data, Coretec Group Inc (CRTG) had $524K in cash against an annual operating cash burn of $1.8M. This gives an estimated cash runway of approximately 3 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Coretec Group Inc's Piotroski F-Score?
Coretec Group Inc (CRTG) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Coretec Group Inc's earnings high quality?
Coretec Group Inc (CRTG) has an earnings quality ratio of 0.79x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.