Coretec Group Inc Financials

CRTG

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2024 Currency USD FYE December

This page shows Coretec Group Inc (CRTG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).

Rhea AI CRTG FY2023 2026-04-22

Persistent cash burn has turned a once-cushioned balance sheet into a thinly financed operation leaning on debt and past capital raises.

Between FY2021 and FY2023, cash reserves fell from $4.1M to $524K. Over the same stretch, liquidity and financing posture deteriorated as long-term debt appeared and the current ratio fell to 1.0x, showing that earlier fundraising bought time but did not materially reduce the underlying cash drain.

Earnings quality is straightforward: FY2023 operating cash outflow of $1.8M tracked fairly closely to the net loss of $2.3M. That means the reported loss was mostly a real cash cost of running the business, not an accounting artifact. Because capital spending was only $53K, free cash flow stayed close at -$1.9M, so the burn is operating-driven rather than reinvestment-driven.

Balance-sheet protection is now thin: total assets were $1.8M against liabilities of $1.7M, leaving only a narrow asset cushion. The tiny equity base makes leverage metrics swing sharply; debt-to-equity reached 9.1x because equity had been compressed to just $110K, so even moderate borrowing now dominates the capital structure.

Financial Health Signals

Financial Profile 3/100

Based on FY2023 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Coretec Group Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Coretec Group Inc has elevated debt relative to equity (D/E of 9.11), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Coretec Group Inc's current ratio of 1.01 is below the typical benchmark, resulting in a score of 15/100. However, the company holds substantial cash reserves (81% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Returns

Coretec Group Inc generates a -2095.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -156.6% the prior year.

Piotroski F-Score Weak

1/9

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.

Earnings Quality Low Quality

0.79x

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.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

Coretec Group Inc generated $0 in revenue in fiscal year 2023.

EBITDA

N/A

Net Income

-$2.3M

YoY+19.4%

Coretec Group Inc reported -$2.3M in net income in fiscal year 2023. This represents an increase of 19.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$1.9M

YoY+3.0%

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.

Cash & Debt

$524K

YoY-77.8%

5Y CAGR+165.1%

10Y CAGR+22.2%

Coretec Group Inc held $524K in cash against $1.0M in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

284M

YoY+5.7%

5Y CAGR+32.9%

Coretec Group Inc had 284M shares outstanding in fiscal year 2023. This represents an increase of 5.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-2095.1%

YoY-1938.5pp

Coretec Group Inc's ROE was -2095.1% in fiscal year 2023, measuring profit generated per dollar of shareholder equity. This is down 1938.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$513K

YoY-4.3%

5Y CAGR+43.2%

10Y CAGR+3.2%

Coretec Group Inc invested $513K in research and development in fiscal year 2023. This represents a decrease of 4.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$53K

YoY-34.1%

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	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$0	$0	$0	$0	N/A	N/A
Cost of Revenue	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
R&D Expenses	$513K-4.3%	$536K+14.0%	$470K+209.5%	$152K+2.0%	$149K+75.0%	$85K
SG&A Expenses	$1.8M-16.0%	$2.1M-62.0%	$5.6M+445.6%	$1.0M-27.4%	$1.4M+88.8%	$751K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$218K+7.3%	$203K-11.7%	$230K-65.5%	$665K+131.5%	$287K-27.3%	$395K
Income Tax	N/A	N/A	N/A	N/A	N/A	$0
Net Income	-$2.3M+19.4%	-$2.9M+54.3%	-$6.3M-239.8%	-$1.8M+0.5%	-$1.9M-77.2%	-$1.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22
Revenue	$0	$0	N/A	$0	$0	$0	N/A	$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	N/A	$101K-16.8%	$121K+8.5%	$112K	N/A	$80K
SG&A Expenses	$235K-34.4%	$358K	N/A	$306K-0.1%	$306K-11.9%	$347K	N/A	$301K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$40K-10.6%	$45K	N/A	$54K+3.1%	$53K-2.3%	$54K	N/A	$53K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$334K+36.2%	-$524K	N/A	-$457K+3.7%	-$474K+6.5%	-$507K	N/A	-$432K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CRTG Balance Sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$1.8M-51.4%	$3.6M-32.4%	$5.4M+270.6%	$1.4M-0.7%	$1.5M+1.8%	$1.4M
Current Assets	$657K-73.4%	$2.5M-41.0%	$4.2M+1970.8%	$202K+37.6%	$147K+256.4%	$41K
Cash & Equivalents	$524K-77.8%	$2.4M-41.9%	$4.1M+18142.6%	$22K-61.8%	$58K+1353.4%	$4K
Inventory	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
Goodwill	$166K0.0%	$166K0.0%	$166K0.0%	$166K0.0%	$166K0.0%	$166K
Total Liabilities	$1.7M-7.9%	$1.8M+20.0%	$1.5M+110.7%	$709K-8.5%	$775K-73.2%	$2.9M
Current Liabilities	$647K+71.1%	$378K+23.2%	$307K-30.6%	$443K-32.4%	$655K-77.3%	$2.9M
Long-Term Debt	$1.0M-29.1%	$1.4M	N/A	$267K	N/A	N/A
Total Equity	$110K-94.0%	$1.8M-52.7%	$3.9M+424.3%	$737K+8.3%	$680K+146.6%	-$1.5M
Retained Earnings	-$18.7M-14.1%	-$16.3M-21.2%	-$13.5M-83.7%	-$7.3M-33.6%	-$5.5M-50.9%	-$3.6M

Metric	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22
Total Assets	$1.3M+4.8%	$1.3M-27.1%	$1.8M-24.5%	$2.3M-11.2%	$2.6M-16.0%	$3.1M-13.6%	$3.6M-11.2%	$4.1M
Current Assets	$290K+42.5%	$203K-69.0%	$657K-45.5%	$1.2M-18.6%	$1.5M-25.9%	$2.0M-19.0%	$2.5M-15.0%	$2.9M
Cash & Equivalents	$4K-96.1%	$115K-78.0%	$524K-48.6%	$1.0M-29.6%	$1.4M-25.4%	$1.9M-17.5%	$2.4M-15.1%	$2.8M
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+8.8%	$1.8M-2.5%	$1.8M+0.8%	$1.8M0.0%	$1.8M
Current Liabilities	$1.6M+135.4%	$679K+4.9%	$647K-3.6%	$672K+113.6%	$314K-29.1%	$444K+17.3%	$378K-4.1%	$395K
Long-Term Debt	$390K-61.4%	$1.0M+0.6%	$1.0M-19.4%	$1.2M-14.0%	$1.4M+6.2%	$1.4M-3.6%	$1.4M	N/A
Total Equity	-$643K-58.7%	-$405K-467.8%	$110K-73.5%	$415K-52.0%	$866K-34.4%	$1.3M-27.8%	$1.8M-20.0%	$2.3M
Retained Earnings	-$19.5M-1.7%	-$19.2M-2.8%	-$18.7M-4.9%	-$17.8M-2.6%	-$17.3M-2.8%	-$16.9M-3.1%	-$16.3M-7.5%	-$15.2M

CRTG Cash Flow Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$1.8M+1.6%	-$1.8M-65.9%	-$1.1M+17.6%	-$1.4M-120.9%	-$612K+3.6%	-$635K
Capital Expenditures	$53K-34.1%	$80K	$0	N/A	N/A	N/A
Free Cash Flow	-$1.9M+3.0%	-$1.9M-73.1%	-$1.1M	N/A	N/A	N/A
Investing Cash Flow	-$49K+39.4%	-$80K-568.5%	-$12K	N/A	N/A	N/A
Financing Cash Flow	$35K-84.8%	$232K-95.5%	$5.2M+291.6%	$1.3M+97.6%	$667K+295.5%	$169K
Dividends Paid	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

Metric	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22
Operating Cash Flow	-$312K+13.6%	-$362K+40.1%	-$604K-47.4%	-$410K+3.0%	-$422K-10.5%	-$382K+22.3%	-$492K-2.3%	-$481K
Capital Expenditures	N/A	N/A	$7K+46.5%	$5K-88.7%	$41K	$0	$0-100.0%	$7K
Free Cash Flow	N/A	N/A	-$611K-47.4%	-$415K+10.6%	-$464K-21.3%	-$382K+22.3%	-$492K-0.9%	-$488K
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$0+100.0%	-$7K
Financing Cash Flow	$202K+527.6%	-$47K-142.7%	$111K+827.5%	-$15K+48.7%	-$30K+2.8%	-$30K-142.1%	$72K-54.7%	$160K
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	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-2095.1%-1938.5pp	-156.6%+5.6pp	-162.2%+88.1pp	-250.3%+22.2pp	-272.5%	N/A
Return on Assets	-131.0%-52.0pp	-79.1%+37.9pp	-117.0%+10.6pp	-127.6%-0.2pp	-127.4%-54.2pp	-73.2%
Current Ratio	1.01-5.5	6.53-7.1	13.63+13.2	0.46+0.2	0.22+0.2	0.01
Debt-to-Equity	9.11+8.3	0.77+0.4	0.39+0.0	0.36-0.8	1.14+3.1	-1.98
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22
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	-109.9%-55.1pp	-54.8%-16.4pp	-38.4%	N/A	-18.9%
Return on Assets	-24.9%+16.0pp	-40.8%	N/A	-19.6%-1.5pp	-18.1%-1.8pp	-16.2%	N/A	-10.6%
Current Ratio	0.18-0.1	0.30-0.7	1.01-0.8	1.80-2.9	4.71+0.2	4.51-2.0	6.53-0.8	7.36
Debt-to-Equity	-0.61+1.9	-2.49-11.6	9.11+6.1	3.00+1.3	1.67+0.6	1.03+0.3	0.77-0.0	0.78
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

3Dx Industries DDDX

$1.1M

XR Immersive Tech FNTTF

$4.8M

Evercel EVRC

$48.8M

Iiot-Oxys Inc ITOX

$293K

Voxeljet Ag VJTTY

$2K

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 return on equity (ROE)?

Coretec Group Inc (CRTG) has a return on equity of -2095.1% for fiscal year 2023, measuring how efficiently the company generates profit from shareholder equity.

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 to 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.

How financially healthy is Coretec Group Inc?

Coretec Group Inc (CRTG) scores 3 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.