Community Redevelopment Inc.

2023 Q2 Form 10-Q Financial Statement

#000168316823006053 Filed on August 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $176.1K $271.5K
Short-Term Investments
Other Short-Term Assets $84.03K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $336.6K $355.5K
YoY Change -5.31%
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 $12.14M $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $336.6K $355.5K
Total Long-Term Assets $12.14M $0.00
Total Assets $12.47M $355.5K
YoY Change 3408.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $263.0K $68.50K
YoY Change 284.0%
Accrued Expenses $240.1K $1.500K
YoY Change 15907.33%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.780M $2.123M
YoY Change 172.24%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $7.343M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.780M $2.123M
Total Long-Term Liabilities $7.343M
Total Liabilities $13.12M $2.123M
YoY Change 518.08%
SHAREHOLDERS EQUITY
Retained Earnings -$60.43M -$58.19M
YoY Change 3.85%
Common Stock $75.76K $44.16K
YoY Change 71.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$650.2K -$1.768M
YoY Change
Total Liabilities & Shareholders Equity $12.47M $355.5K
YoY Change 3408.6%

Cashflow Statement

Concept 2023 Q2 2022 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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EntityCentralIndexKey
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dei Amendment Flag
AmendmentFlag
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
333-208814
dei Entity Registrant Name
EntityRegistrantName
COMMUNITY REDEVELOPMENT INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
OK
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-2629422
dei Entity Address Address Line1
EntityAddressAddressLine1
820 Bear Tavern Rd #303
dei Entity Address City Or Town
EntityAddressCityOrTown
Ewing
dei Entity Address State Or Province
EntityAddressStateOrProvince
NJ
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
08628
dei City Area Code
CityAreaCode
866
dei Local Phone Number
LocalPhoneNumber
692-6847
dei Security12g Title
Security12gTitle
Common Stock, $0.001 Par Value
dei Entity Current Reporting Status
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<p id="xdx_84F_eus-gaap--UseOfEstimates_zg6my9y52jYi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_866_zpH099mRzeo1">Use of Estimates</span></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"></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>
us-gaap Concentration Risk Credit Risk
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<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zfij33qZuK04" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_86B_zVH90VhOX72i">Concentrations of Credit Risk and Off-Balance Sheet Arrangements</span></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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WeightedAverageNumberOfSharesOutstandingBasic
75739442 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44111879 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75739442 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44111879 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.004
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.202
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.004
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.202
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-60433918 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
75760321 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
75760321 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
11521389 usd
CY2023Q2 us-gaap Convertible Debt
ConvertibleDebt
563056 usd
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
555556 usd

Files In Submission

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0001683168-23-006053-index-headers.html Edgar Link pending
0001683168-23-006053-index.html Edgar Link pending
0001683168-23-006053.txt Edgar Link pending
0001683168-23-006053-xbrl.zip Edgar Link pending
community_10q-063023.htm 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
crdv-20230630.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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crdv-20230630_pre.xml Edgar Link unprocessable
crdv-20230630_cal.xml Edgar Link unprocessable
crdv-20230630_def.xml Edgar Link unprocessable
crdv-20230630_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
community_10q-063023_htm.xml Edgar Link completed
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