2023 Q2 Form 10-K Financial Statement

#000106299323009447 Filed on April 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $169.6K $169.6K
YoY Change -74.64% -74.64%
Cash & Equivalents $169.6K
Short-Term Investments
Other Short-Term Assets $90.87K $90.87K
YoY Change 614.95% 614.95%
Inventory
Prepaid Expenses
Receivables $112.7K $112.7K
Other Receivables $0.00 $0.00
Total Short-Term Assets $373.1K $373.1K
YoY Change 1832.03% -45.23%
LONG-TERM ASSETS
Property, Plant & Equipment $115.8K $115.8K
YoY Change 808.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.930K $9.930K
YoY Change
Total Long-Term Assets $125.7K $125.7K
YoY Change 357.54% 114.08%
TOTAL ASSETS
Total Short-Term Assets $373.1K $373.1K
Total Long-Term Assets $125.7K $125.7K
Total Assets $498.8K $498.8K
YoY Change 966.12% -32.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $952.3K $952.3K
YoY Change 139.76% 727.93%
Accrued Expenses $344.1K $504.1K
YoY Change 275.82%
Deferred Revenue
YoY Change
Short-Term Debt $50.00K $50.00K
YoY Change
Long-Term Debt Due $370.0K $370.0K
YoY Change
Total Short-Term Liabilities $1.933M $1.933M
YoY Change 100.71% 1580.44%
LONG-TERM LIABILITIES
Long-Term Debt $802.2K $802.2K
YoY Change
Other Long-Term Liabilities $400.2K $400.2K
YoY Change
Total Long-Term Liabilities $1.202M $1.202M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.933M $1.933M
Total Long-Term Liabilities $1.202M $1.202M
Total Liabilities $3.135M $3.135M
YoY Change -22.78% 2625.76%
SHAREHOLDERS EQUITY
Retained Earnings -$24.02M
YoY Change 189.72%
Common Stock $163.6K
YoY Change 17098.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.636M -$2.636M
YoY Change
Total Liabilities & Shareholders Equity $498.8K $498.8K
YoY Change 966.12% -32.58%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022

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<div> <p style="text-align: justify; margin-top: 10pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><i><b>Use of Estimates</b></i></span></span></p> <p style="text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. On an ongoing basis, management reviews its estimates and, if deemed appropriate, those estimates are adjusted. Significant estimates include those related to assumptions used in valuing assets acquired in business acquisitions, impairment testing of goodwill and other long-term assets, assumptions used in valuing stock-based compensation, the valuation allowance for deferred tax assets, revenue recognition, allowance for doubtful accounts, depreciable lives of assets, accruals for potential liabilities, and assumptions used in the determination of the Company's liquidity. Actual results could differ materially from those estimates.</span></span></p> </div>
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<div> <p style="margin: 10pt 0pt 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><b>Concentrations</b></span></span></p> <div> <div> <p style="text-indent: 36pt; text-align: justify; margin-top: 10pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><i>Revenues</i>. For the years ended December 31, 2022 and 2021, there were no customers that represented 10% or more of total revenue.</span></span></p> <p style="text-indent: 36pt; text-align: justify; margin-top: 10pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><i>Accounts receivable</i>. As of December 31, 2022, the Company had accounts receivable due from five customers which represented 27%, 20%, 18%, 12%, and 11% of total accounts receivable. At December 31, 2021, there were no accounts receivable.</span></span></p> </div> </div> </div>
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the outstanding principal balance on these agreements is $463,066 of which $438,387 will be paid in 2023 and $24,679 will be paid in early 2024.
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Files In Submission

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0001062993-23-009447.txt Edgar Link pending
0001062993-23-009447-xbrl.zip Edgar Link pending
exhibit23-1.htm Edgar Link pending
exhibit23-2.htm Edgar Link pending
exhibit23-2xm001.jpg Edgar Link pending
exhibit23-2xm002.jpg Edgar Link pending
exhibit31-1.htm Edgar Link pending
exhibit31-2.htm Edgar Link pending
exhibit32-1.htm Edgar Link pending
exhibit32-2.htm Edgar Link pending
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