Community Redevelopment Inc.

2023 Q3 Form 10-Q Financial Statement

#000168316823005114 Filed on July 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q1 2022 Q4

Balance Sheet

Concept 2023 Q3 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $99.86K $101.7K
Short-Term Investments
Other Short-Term Assets $170.4K $73.51K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $430.7K $335.7K
YoY Change -69.04%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.249M $7.249M
YoY Change -60.76%
TOTAL ASSETS
Total Short-Term Assets $430.7K $335.7K
Total Long-Term Assets $7.249M $7.249M
Total Assets $7.679M $7.584M
YoY Change -61.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $237.0K $85.85K
YoY Change 15.86%
Accrued Expenses $204.0K $68.60K
YoY Change 1272.04%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.475M $5.183M
YoY Change 140.6%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.768M $2.768M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.475M $5.183M
Total Long-Term Liabilities $2.768M $2.768M
Total Liabilities $8.243M $7.950M
YoY Change 269.09%
SHAREHOLDERS EQUITY
Retained Earnings -$60.35M -$60.10M
YoY Change 21.96%
Common Stock $75.71K $73.39K
YoY Change 66.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$563.9K -$366.1K
YoY Change
Total Liabilities & Shareholders Equity $7.679M $7.584M
YoY Change -61.22%

Cashflow Statement

Concept 2023 Q3 2023 Q1 2022 Q4

Facts In Submission

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CY2023Q1 dei Entity Registrant Name
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COMMUNITY REDEVELOPMENT INC.
CY2023Q1 dei Entity Incorporation State Country Code
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820 Bear Tavern Rd #303
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<p id="xdx_84F_eus-gaap--UseOfEstimates_zH3v3VrM8PUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration: underline">Use of Estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the dates of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made by management include, but are not limited to, revenue recognition, the allowance for bad debt, useful life of fixed assets, income taxes and unrecognized tax benefits, valuation allowance for deferred tax assets, and assumptions used in assessing impairment of long-lived assets. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The COVID-19 pandemic has caused uncertainty and disruption in the global economy and financial markets. As a result, management’s estimates and assumptions may be subject to a higher degree of variability and volatility that may result in material differences from the current period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
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<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zanqso4WSSGe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration: underline">Concentrations of Credit Risk and Off-Balance Sheet Arrangements</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash is a financial instrument that potentially subjects the Company to concentrations of credit risk. For all periods presented, substantially all of the Company’s cash was deposited in an account at a single financial institution that management believes is creditworthy. The Company is exposed to credit risk in the event of default by these financial institutions for amounts in excess of the Federal Deposit Insurance Corporation insured limits. The Company maintains its cash at a high-quality financial institution and has not incurred any losses to date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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4514000 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
1611000 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets
278168 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
6569671 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
8602 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Financial Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
5598250 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
962819 usd
CY2023Q1 us-gaap Convertible Debt
ConvertibleDebt
563056 usd
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
555556 usd

Files In Submission

Name View Source Status
0001683168-23-005114-index-headers.html Edgar Link pending
0001683168-23-005114-index.html Edgar Link pending
0001683168-23-005114.txt Edgar Link pending
0001683168-23-005114-xbrl.zip Edgar Link pending
community_ex3101.htm Edgar Link pending
community_ex3102.htm Edgar Link pending
community_ex3201.htm Edgar Link pending
community_ex3202.htm Edgar Link pending
community_i10q-033123.htm Edgar Link pending
crdv-20230331.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
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R2.htm Edgar Link pending
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R27.htm Edgar Link pending
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R29.htm Edgar Link pending
R3.htm Edgar Link pending
crdv-20230331_cal.xml Edgar Link unprocessable
crdv-20230331_def.xml Edgar Link unprocessable
crdv-20230331_lab.xml Edgar Link unprocessable
community_i10q-033123_htm.xml Edgar Link completed
R30.htm Edgar Link pending
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R32.htm Edgar Link pending
R4.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
crdv-20230331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable