Bonal International : 2023 1st Quarter Financial Report and OTC Pink Basic Disclosure
August 15, 2022 at 05:34 pm
Share
Fiscal Year
1st Quarter Ending
June 30th, 2022
and
OTC Pink Basic Disclosure
(unaudited)
B O N A L I N T E R N A T I O N A L, I N C.
Bonal International, Inc. and Subsidiary
Consolidated Balance Sheets
June 30,
March 31,
Assets
2022
2022
Current Assets
Cash
$
949,029
$
1,058,089
Accounts receivable‐trade, net
135,079
22,583
Inventories, net
686,529
694,888
Prepaid expenses and other current assets:
Prepaid expenses
28,090
38,971
Other current assets
39,597
29,613
1,838,324
1,844,144
Property and Equipment, Net
21,580
19,649
Deferred Tax Asset
6,500
6,500
Total assets
$
1,866,404
$
1,870,293
Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable
$
25,289
$
14,873
Accrued and other current liabilities:
Accrued compensation
85,289
111,852
Customer deposits and advances
21,305
31,000
Accrued income tax liabilities
44,764
38,719
Accrued dividends
87,396
‐
Other accrued liabilities
3,662
6,956
267,705
203,400
Stockholders' Equity
1,598,699
1,666,893
Total liabilities and stockholders' equity
$
1,866,404
$
1,870,293
The accompanying notes are an integral part of these consolidated financial statements.
B O N A L I N T E R N A T I O N A L, I N C.
1
Bonal International, Inc. and Subsidiary
Consolidated Statements of Operations
First Quarter Ended June 30,
Net Sales
2022
2021
Contract revenue
$
445,150
$
339,246
Rental revenue
37,210
71,870
Total net sales
482,360
411,116
Cost of Sales
125,755
113,668
Gross Profit
356,605
297,448
General and Administrative Expenses
332,020
251,043
Operating Income
24,585
46,405
Nonoperating Income (Expense)
Interest income
297
364
Other income (expense)
(264)
(186)
Total nonoperating income
33
178
Income ‐ Before income taxes
24,618
46,583
Income Tax Expense
5,416
10,248
Net Income
$
19,202
$
36,335
Per‐Share Data ‐ Net Income
$
0.01
$
0.02
Average Number of Shares Used in
per Share Computation
1,747,922
1,747,922
The accompanying notes are an integral part of these consolidated financial statements.
B O N A L I N T E R N A T I O N A L, I N C.
2
Bonal International, Inc. and Subsidiary
Consolidated Statements of Stockholders' Equity
Class A
Additional
Retained
Common
Total
Stock
Paid‐in Capital
Earnings
Balance ‐ April 1, 2019
$
8,740
$
688,212
$
919,182
$
1,616,134
Net Loss
‐
‐
(49,950)
(49,950)
Dividends ($0.05 per share)
‐
‐
(87,396)
(87,396)
Balance ‐ March 31, 2020
8,740
688,212
781,836
1,478,788
Net Income
‐
‐
89,294
89,294
Balance ‐ March 31, 2021
8,740
688,212
871,130
1,568,082
Net Income
‐
‐
186,207
186,207
Dividends ($0.05 per share)
‐
‐
(87,396)
(87,396)
Balance ‐ March 31, 2022
8,740
688,212
969,941
1,666,893
Net Income
‐
‐
19,202
19,202
Dividends Declared ($0.05 per share)
‐
‐
(87,396)
(87,396)
Balance ‐ June 30, 2022
$
8,740
$
688,212
$
901,747
$
1,598,699
B O N A L I N T E R N A T I O N A L, I N C.
3
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Bonal International Inc. published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 16:33:10 UTC.
Bonal International, Inc. provides a complete variety of consulting, training, program designing and metal stress relief services to several industries, including automotive, aerospace, mining, petroleum, shipbuilding, welding, machine tooling, plastic molding, racing, engine building, armament, and die casting. The Company's patented technology and its three distinct product lines include Meta-Lax Stress Relief, Pulse Puddle Arc Welding (PPAW) and Black Magic. It sells its products throughout the United States and in 64 foreign countries. Meta-Lax equipment is the Companyâs main product line. The Meta-Lax equipment can be used to stress relieve metal work pieces in place of heat treat stress relief and/or can be used during welding. Its facility has a storage capacity of approximately 9,000 pallets. Its Meta-Lax equipment includes Series 2000, Series 2400 and Series 2800.