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KRMD Stock Price Correlated With Repro-Med Systems Financials
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Income Statement
Cash Flow
Balance Sheet
KRMD Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
KRMD Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
KRMD Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
NOTE 1 — NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
NATURE OF OPERATIONS
REPRO MED SYSTEMS, INC. (the “Company,” “KORU Medical,”
“KORU,” “we,” “us” or “our”) designs, manufactures and markets proprietary portable and
innovative medical devices primarily for the ambulatory infusion market as governed by the United States Food and Drug Administration
(the “FDA”) quality and regulatory system and international standards for quality system management. The Company operates
as one segment.
BASIS OF PRESENTATION
We prepare our financial statements and accompanying
notes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain
prior year amounts have been reclassified to conform to the current year presentation in our Financial Statements.
CASH AND CASH EQUIVALENTS
For purposes of the statement of cash flows, the Company considers all
short-term investments with an original maturity of three months or less to be cash equivalents. The Company holds cash in excess
of $ 250,000 at its depository, which exceeds the FDIC insurance limits and is, therefore, uninsured.
I NVENTORY
Inventories of raw materials are stated at the lower of standard cost,
which approximates average cost, or market value including allocable overhead. Work-in-process and finished goods are stated at
the lower of standard cost or market value and include direct labor and allocable overhead.
We maintain reserves for excess and obsolete inventory resulting from the
potential inability to sell certain products at prices in excess of current carrying costs. We make estimates regarding the future
recoverability of the costs of these products and record provisions based on historical experience, expiration of sterilization dates
and expected future trends. If actual product life cycles, product demand or acceptance of new product introductions are less favorable
than projected by management, additional inventory write downs may be required, which could unfavorably affect future operating results.
INTANGIBLE ASSETS
Certain of our identifiable intangible assets, including patents and trademarks,
are amortized using the straight-line method over their estimated useful lives which range from 6 to 20 years. All of our intangible
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be
recoverable. Our management is responsible for determining if impairment exists and considers various factors when making these
determinations. Amortization expense related to intangible assets for the years ended December 31, 2021 and 2020 was $ 63,830 and
$ 62,177 , respectively.
The estimated amortization expense for the succeeding
years for the intangible assets is approximately:
Schedule of amortization expense
Year Ending December 31,
2022
$
60,617
2023
59,842
2024
59,842
2025
59,842
2026
59,842
Thereafter
508,828
Total amortization expense
$
808,813
INCOME TAXES
Deferred income taxes are provided using the liability method whereby deferred
tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities
are recognized for taxable temporary differences.
The Company believes that it has no uncertain tax positions requiring disclosure
or adjustment.
PROPERTY AND EQUIPMENT
Property and equipment are stated at original acquisition cost less accumulated
depreciation. Additions and improvements are capitalized which increase the value or extend the life of an asset, while maintenance
and repair costs are expensed as incurred. When assets are retired or otherwise disposed, the cost and related accumulated depreciation
or amortization is removed from the respective accounts and any resulting gain or loss is included in income. Depreciation and amortization
are calculated on the straight-line basis over the estimated useful liv
POLICIES
NATURE OF OPERATIONS
REPRO MED SYSTEMS, INC. (the “Company,” “KORU Medical,”
“KORU,” “we,” “us” or “our”) designs, manufactures and markets proprietary portable and
innovative medical devices primarily for the ambulatory infusion market as governed by the United States Food and Drug Administration
(the “FDA”) quality and regulatory system and international standards for quality system management. The Company operates
as one segment.
BASIS OF PRESENTATION
We prepare our financial statements and accompanying
notes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain
prior year amounts have been reclassified to conform to the current year presentation in our Financial Statements.
CASH AND CASH EQUIVALENTS
For purposes of the statement of cash flows, the Company considers all
short-term investments with an original maturity of three months or less to be cash equivalents. The Company holds cash in excess
of $ 250,000 at its depository, which exceeds the FDIC insurance limits and is, therefore, uninsured.
I NVENTORY
Inventories of raw materials are stated at the lower of standard cost,
which approximates average cost, or market value including allocable overhead. Work-in-process and finished goods are stated at
the lower of standard cost or market value and include direct labor and allocable overhead.
We maintain reserves for excess and obsolete inventory resulting from the
potential inability to sell certain products at prices in excess of current carrying costs. We make estimates regarding the future
recoverability of the costs of these products and record provisions based on historical experience, expiration of sterilization dates
and expected future trends. If actual product life cycles, product demand or acceptance of new product introductions are less favorable
than projected by management, additional inventory write downs may be required, which could unfavorably affect future operating results.
INTANGIBLE ASSETS
Certain of our identifiable intangible assets, including patents and trademarks,
are amortized using the straight-line method over their estimated useful lives which range from 6 to 20 years. All of our intangible
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be
recoverable. Our management is responsible for determining if impairment exists and considers various factors when making these
determinations. Amortization expense related to intangible assets for the years ended December 31, 2021 and 2020 was $ 63,830 and
$ 62,177 , respectively.
The estimated amortization expense for the succeeding
years for the intangible assets is approximately:
Schedule of amortization expense
Year Ending December 31,
2022
$
60,617
2023
59,842
2024
59,842
2025
59,842
2026
59,842
Thereafter
508,828
Total amortization expense
$
808,813
INCOME TAXES
Deferred income taxes are provided using the liability method whereby deferred
tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities
are recognized for taxable temporary differences.
The Company believes that it has no uncertain tax positions requiring disclosure
or adjustment.
PROPERTY AND EQUIPMENT
Property and equipment are stated at original acquisition cost less accumulated
depreciation. Additions and improvements are capitalized which increase the value or extend the life of an asset, while maintenance
and repair costs are expensed as incurred. When assets are retired or otherwise disposed, the cost and related accumulated depreciation
or amortization is removed from the respective accounts and any resulting gain or loss is included in income. Depreciation and amortization
are calculated on the straight-line basis over the estimated useful liv
Free historical financial statements for Repro-Med Systems Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 27 quarters since 2018. Compare with KRMD stock chart to see long term trends.
Data imported from Repro-Med Systems Inc. SEC filings. Check original filings before making any investment decision.