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JAN Stock Price Correlated With JanOne Financials
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Income Statement
Cash Flow
Balance Sheet
JAN Income Statement
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JAN Cash Flow
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JAN Balance Sheet
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COMPANY PROFILE
Note 1: Background and Basis of Presentation The accompanying consolidated financial statements include the accounts of JanOne Inc., a Nevada corporation, and its subsidiaries (collectively, the “Company” or “JanOne”). On September 10, 2019, Appliance Recycling Centers of America, Inc. changed its name to JanOne Inc. The Company has three operating segments – Biotechnology, Recycling, and Technology. During September 2019, JanOne, through its biotechnology segment, broadened its business perspectives to become a pharmaceutical company focused on finding treatments for conditions that cause severe pain and bringing to market drugs with non-addictive pain-relieving properties. ARCA Recycling, Inc. (“ARCA Recycling”) provides turnkey recycling services for electric utility energy efficiency programs in the United States. ARCA Canada Inc. (“ARCA Canada”) provides turnkey recycling services for electric utility energy efficiency programs in Canada. Customer Connexx, LLC (“Connexx”) provides call center services for ARCA Recycling and ARCA Canada. On February 19, 2021, (a) ARCA Recycling and (b) Connexx entered into an Asset Purchase Agreement (the “Disposition Agreement”) with (i) ARCA Affiliated Holdings Corporation, a Delaware corporation, (ii) ARCA Services Inc., a Delaware corporation, and (iii) Connexx Services Inc, a Delaware corporation (collectively, the “Buyers”), pursuant to which the Buyers agreed to acquire substantially all of the assets, and assume certain liabilities, of ARCA Recycling and Connexx (the “Disposition Transaction”). The principal of the Buyers is Virland A. Johnson, our Chief Financial Officer. The Disposition Transaction is expected to be consummated no later than July 15, 2022. GeoTraq Inc. (“GeoTraq”) is the Company’s Technology segment. The Company is currently in the process of suspending all operations for GeoTraq. The Company reports on a 52- or 53-week fiscal year. Our 2021 fiscal year (“2021”) ended on January 1, 2022, and our fiscal year (“2020”) ended on January 2, 2021. Going concern The Company currently faces a challenging competitive environment and is focused on improving its overall profitability, which includes managing expenses. The Company reported a net loss of approximately $ 16.9 million and approximately $ 8.5 million for the fiscal years ended January 1, 2022 and January 2, 2021, respectively. Additionally, as of January 1, 2022, the Company has total current assets of approximately $ 7.6 million and total current liabilities of approximately $ 19.4 million resulting in a net negative working capital of approximately $ 11.8 million. The Company has available cash balances and funds available under an accounts receivable factoring program with Prestige Capital Finance, LLC (“Prestige Capital”) to provide sufficient liquidity to fund the entity’s operations, the entity’s continued investments in center openings, and remodeling activities for at least the next twelve months. The Company expects to generate cash from operations for the remainder of fiscal year 2022 given its cost cutting measures in response to the revenue reductions resulting from the Coronavirus. However, depending on the U.S.’ continued restrictions related to the coronavirus public health crisis, the Company cannot be certain its efforts will suffice. The agreement with Prestige Capital allows the Company to get advance funding of 80 % of an unpaid customer’s invoice amount within two days and the balance less a mutually agreed upon fee upon ultimate collection in cash of the invoice. The Company expects that it will be able to utilize the available funds under the accounts receivable factoring agreement to provide liquidity and to pursue acquisitions and other strategic transactions to expand and grow the business to enhance stockholder value. Management also regularly monitors capital market conditions to ensure no other conditions or events exist that may materially affect the Company’s financial conditions
Free historical financial statements for JanOne Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 25 quarters since 2018. Compare with JAN stock chart to see long term trends.
Data imported from JanOne Inc. SEC filings. Check original filings before making any investment decision.