2021 Q4 Form 10-K Financial Statement
#000147793222002436 Filed on April 15, 2022
Income Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
Revenue | $608.5K | ||
YoY Change | |||
Cost Of Revenue | $458.9K | ||
YoY Change | |||
Gross Profit | $149.6K | ||
YoY Change | |||
Gross Profit Margin | 24.59% | ||
Selling, General & Admin | $387.9K | ||
YoY Change | 6753.71% | ||
% of Gross Profit | 259.23% | ||
Research & Development | $36.65K | ||
YoY Change | |||
% of Gross Profit | 24.49% | ||
Depreciation & Amortization | $24.16K | ||
YoY Change | |||
% of Gross Profit | 16.14% | ||
Operating Expenses | $429.8K | ||
YoY Change | 7494.33% | ||
Operating Profit | -$280.2K | ||
YoY Change | 4850.42% | ||
Interest Expense | -$29.81K | ||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $4.250K | ||
YoY Change | |||
Pretax Income | -$272.1K | ||
YoY Change | 4706.78% | ||
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$272.1K | ||
YoY Change | 4708.48% | ||
Net Earnings / Revenue | -44.71% | ||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$295.60 | ||
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $484.2K | ||
YoY Change | |||
Cash & Equivalents | $484.2K | $0.00 | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | $884.7K | ||
Prepaid Expenses | |||
Receivables | $0.00 | $0.00 | |
Other Receivables | $0.00 | ||
Total Short-Term Assets | $1.369M | $1.369M | $0.00 |
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $270.5K | $270.5K | $0.00 |
YoY Change | |||
Goodwill | $693.1K | ||
YoY Change | |||
Intangibles | $74.74K | $0.00 | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $2.000K | ||
YoY Change | |||
Total Long-Term Assets | $1.040M | $1.040M | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $1.369M | $1.369M | $0.00 |
Total Long-Term Assets | $1.040M | $1.040M | $0.00 |
Total Assets | $2.409M | $2.409M | $0.00 |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $48.75K | $48.75K | $0.00 |
YoY Change | |||
Accrued Expenses | $20.11K | $1.198M | $0.00 |
YoY Change | 32459.78% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $82.16K | ||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.329M | $1.329M | $3.678K |
YoY Change | 36036.57% | 36016.85% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.099M | ||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $1.099M | $1.099M | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.329M | $1.329M | $3.678K |
Total Long-Term Liabilities | $1.099M | $1.099M | $0.00 |
Total Liabilities | $2.428M | $2.621M | $3.678K |
YoY Change | 65909.33% | 71117.93% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$23.90M | -$23.68M | |
YoY Change | 0.9% | ||
Common Stock | $13.95K | $196.7K | |
YoY Change | -92.91% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$18.49K | -$211.5K | -$3.678K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $2.409M | $2.409M | $0.00 |
YoY Change |
Cashflow Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$272.1K | ||
YoY Change | 4708.48% | ||
Depreciation, Depletion And Amortization | $24.16K | ||
YoY Change | |||
Cash From Operating Activities | -$1.119M | ||
YoY Change | 19676.88% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | -$350.7K | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$306.9K | ||
YoY Change | |||
Cash From Investing Activities | -$657.6K | ||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $80.00K | ||
YoY Change | |||
Debt Paid & Issued, Net | $30.28K | ||
YoY Change | |||
Cash From Financing Activities | $2.261M | ||
YoY Change | 39857.58% | ||
NET CHANGE | |||
Cash From Operating Activities | -$1.119M | ||
Cash From Investing Activities | -$657.6K | ||
Cash From Financing Activities | $2.261M | ||
Net Change In Cash | $484.2K | ||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.119M | ||
Capital Expenditures | -$350.7K | ||
Free Cash Flow | -$768.2K | ||
YoY Change | 13477.87% |
Facts In Submission
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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Finite Lived Intangible Assets Accumulated Amortization
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Other Long Term Notes Payable
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Liabilities Noncurrent
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Commitments And Contingencies
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Preferred Stock Value
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Preferred Stock Shares Authorized
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Accrued Liabilities Current
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Loans Payable Current
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Liabilities Current
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30614 | USD |
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Common Stock Par Or Stated Value Per Share
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Common Stock Par Or Stated Value Per Share
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0.001 | |
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Common Stock Shares Authorized
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Common Stock Shares Issued
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Common Stock Shares Issued
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Common Stock Value
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Common Stock Value
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Additional Paid In Capital
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Retained Earnings Accumulated Deficit
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Minority Interest
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Stockholders Equity
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Cost Direct Labor
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Costs And Expenses
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Gross Profit
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Depreciation And Amortization
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Legal Fees
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Lease And Rental Expense
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Research And Development Expense
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Salaries Wages And Officers Compensation
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General And Administrative Expense
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Operating Expenses
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Operating Income Loss
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Interest Expense Related Party
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Other Income
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|
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Income Tax Expense Benefit
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Net Income Loss
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Repurchase Of Common Shares For Cash Amount
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Sale Of Common Shares For Cash Amount
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|
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Net Cash Provided By Used In Financing Activities
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Increase Decrease In Inventories
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Increase Decrease In Accounts Receivable
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Increase Decrease In Accounts Receivable
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Increase Decrease In Accounts Payable And Accrued Liabilities
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Increase Decrease In Accounts Payable And Accrued Liabilities
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Payments To Acquire Productive Assets
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|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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Nature Of Operations
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<p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><span class="atag" id="note" style="display: inline">Note 1 – Organization and History</span></strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 13, 2009, 808 Renewable Energy Corporation, (the "Company”), was incorporated in Nevada as Tri-Energy, Inc. for the purpose of acquiring and managing renewable energy products. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On or around March 2016, the Company failed to file reports with the Securities and Exchange Commission and has since abandoned and ceased all operations. A shareholder and affiliate of the officer/director of the Company filed with the court in Nevada a petition to act as the custodian for the Company and was granted such authority in September 2018. The custodian paid outstanding debts of the Company and filed the necessary documents to bring the Company into compliance with state authority and to maintain such compliance. On July 19, 2019, the shareholder was removed as custodian of the Company. See Note 3 – Debt. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On March 15, 2021, the Company acquired fifty-five percent (55%) of the membership interest in SilverLight Aviation LLC (“SLA LLC”), a Florida limited liability company, that has been in business for approximately ten years and specializes in the design, manufacture and sale of gyroplane kits to the general public throughout the United States. See Note 4 – Significant Acquisition. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 3, 2021 the Company entered into an Asset Purchase Agreement to acquire certain assets in the Trike field from Atelier de Motelage RB, Inc. in exchange for an aggregate of One Hundred Ninety Five Thousand ($195,000) Dollars.</p> | |
CY2021 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates include the fair value of assets and liabilities, income taxes and the valuation allowances related to deferred tax assets and contingencies.</p> | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | USD |
CY2021 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
|
1000000 | USD |
CY2021Q1 | rnew |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash In Bank
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashInBank
|
691397 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
|
25000 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
|
2382 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
|
66650 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
|
2000 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
|
787429 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
|
124375 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
|
105131 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
|
229506 | USD |
CY2021Q1 | us-gaap |
Business Combination Acquisition Of Less Than100 Percent Noncontrolling Interest Fair Value
BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue
|
251065 | USD |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
|
306858 | USD |
CY2021 | us-gaap |
Other Expenses
OtherExpenses
|
4250 | USD |
CY2021 | rnew |
Owed Amount
OwedAmount
|
4250 | USD |
CY2021 | rnew |
Owed To Officer Amount
OwedToOfficerAmount
|
52905 | USD |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
CY2020Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
2500000000 | shares |
CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1395221422 | shares |