Merion, Inc.

2022 Q3 Form 10-Q Financial Statement

#000147793222007147 Filed on September 23, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q2

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.93K $5.730K
YoY Change 300.17% -48.38%
Cash & Equivalents $22.93K $5.726K
Short-Term Investments
Other Short-Term Assets $44.33K $83.82K
YoY Change -47.11% -53.11%
Inventory $0.00 $65.31K
Prepaid Expenses $44.33K $83.82K
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $67.26K $154.9K
YoY Change -56.57% -58.4%
LONG-TERM ASSETS
Property, Plant & Equipment $75.72K $96.37K
YoY Change -21.43% -91.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.41K $15.41K
YoY Change 0.0% 0.0%
Total Long-Term Assets $313.1K $618.2K
YoY Change -49.36% -46.83%
TOTAL ASSETS
Total Short-Term Assets $67.26K $154.9K
Total Long-Term Assets $313.1K $618.2K
Total Assets $380.3K $773.1K
YoY Change -50.8% -49.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $270.2K $34.17K
YoY Change 690.69% -97.45%
Accrued Expenses $272.6K $229.1K
YoY Change 19.02% 20.71%
Deferred Revenue
YoY Change
Short-Term Debt $60.54K $137.8K
YoY Change -56.06% -90.69%
Long-Term Debt Due $17.80K $17.00K
YoY Change 4.65% -87.62%
Total Short-Term Liabilities $1.565M $1.073M
YoY Change 45.89% -74.14%
LONG-TERM LIABILITIES
Long-Term Debt $534.1K $69.39K
YoY Change 669.66% -52.6%
Other Long-Term Liabilities $96.88K $299.2K
YoY Change -67.62% -90.6%
Total Long-Term Liabilities $631.0K $518.6K
YoY Change 21.67% -84.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.565M $1.073M
Total Long-Term Liabilities $631.0K $518.6K
Total Liabilities $2.196M $1.591M
YoY Change 37.99% -78.72%
SHAREHOLDERS EQUITY
Retained Earnings -$26.58M -$25.57M
YoY Change 3.94%
Common Stock $62.29K $61.52K
YoY Change 1.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.815M -$818.0K
YoY Change
Total Liabilities & Shareholders Equity $380.3K $773.1K
YoY Change -50.8% -49.64%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q2

Facts In Submission

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22047 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3780 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
882 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9506 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22929 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5726 usd
us-gaap Interest Paid Net
InterestPaidNet
1693 usd
us-gaap Interest Paid Net
InterestPaidNet
2075 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s unaudited condensed financial statements include the useful lives of property and equipment, the collectability of receivables and impairment of long-lived assets. The inputs into the Company’s judgments and estimates consider the economic implications of COVID-19 on the Company’s critical and significant accounting estimates. Actual results could differ from those estimates.</p>
CY2022Q2 ewlu Company Sales
CompanySales
0.94 pure
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
25144 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
25144 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
25144 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
0 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
25144 usd
ewlu Inventories Shelf Lives33
InventoriesShelfLives33
P3Y
CY2022Q2 us-gaap Inventory Write Down
InventoryWriteDown
18143 usd
CY2021Q2 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
us-gaap Inventory Write Down
InventoryWriteDown
23016 usd
us-gaap Inventory Write Down
InventoryWriteDown
4075 usd
CY2022Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
65482 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
65482 usd
ewlu Company Sales
CompanySales
0.98 pure
ewlu Company Sales
CompanySales
0.93 pure
ewlu Product Warranty Description
ProductWarrantyDescription
the Company’s 60-day return policy, the Company, at its discretion, may accept a customer’s application for a buy-back of products previously sold within one year at 90% of the original product’s cost less commissions and shipping costs.
ewlu Reverse Stock Splitpolicytextblock
ReverseStockSplitpolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.7pt; text-align:justify;">On June 11, 2021, the Company’s Board of Directors approved a 1-for-3 reverse stock split of the Company’s common stock and filed on July 27, 2021, a Certificate of Change with the State of Nevada effective upon filing (see Note 11). All share and per share amounts used herein and in the accompanying unaudited condensed financial statements have been retroactively restated to reflect this reverse stock split.</p>
CY2021Q2 ewlu Description Of Reverse Stock Split
DescriptionOfReverseStockSplit
1-for-3 reverse stock
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Financial instruments</strong></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;">Financial instruments that potentially subject the Company to concentrations of credit risk are cash and accounts receivable arising from its normal business activities. The Company maintains balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation (FDIC) insured limits for the banks located in the United States. The Company had no uninsured balances as of June 30, 2022.</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 0px 0px 0.7pt; text-align:justify;"><strong>Major Customers and Suppliers</strong></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;">For the three months ended June 30, 2022, one customer accounted for approximately 94% of the Company’s sales and for the three months ended June 30, 2021, one customer accounted for approximately 93% of the Company’s sales. </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;">For the six months ended June 30, 2022, two customers accounted for approximately 98% (64% and 34%) of the Company’s sales and for the six months ended June 30, 2021, one customer accounted for approximately 93% of the Company’s sales. </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;">As of June 30, 2022 and December 31, 2021, one customer accounted for 100% of the Company’s accounts receivable, respectively.</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;">For the three months ended June 30, 2022, one supplier accounted for approximately 98% of the Company’s product purchases and for the three months ended June 30, 2021, two suppliers accounted for approximately 69% (43% and 26%) of the Company’s product purchases.</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;">For the six months ended June 30, 2022, two suppliers accounted for approximately 95% (73% and 22%) of the Company’s product purchases and for the six months ended June 30, 2021, four suppliers accounted for approximately 89% (37%, 30%, 12% and 10%) of the Company’s product purchases.</p>
CY2022Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
0 usd
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
12136 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
0 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
4873 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
0 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5165 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
0 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
22174 usd
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.20 pure
CY2022Q2 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
40000 usd
CY2022Q2 us-gaap Due To Other Related Parties Noncurrent
DueToOtherRelatedPartiesNoncurrent
3871 usd
CY2022Q2 ewlu Total
Total
305594 usd
CY2021Q4 ewlu Total
Total
305594 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
229876 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
219551 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75718 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
86043 usd
CY2022Q2 us-gaap Depreciation
Depreciation
5163 usd
CY2021Q2 us-gaap Depreciation
Depreciation
12162 usd
us-gaap Depreciation
Depreciation
10325 usd
us-gaap Depreciation
Depreciation
27825 usd
CY2021Q2 ewlu Proceeds From Disposal Of Equipment
ProceedsFromDisposalOfEquipment
7700 usd
CY2021Q2 ewlu Loss Gain On Disposal Of Equipment44
LossGainOnDisposalOfEquipment44
-268800 usd
ewlu Schedule Of Short Term Debt
ScheduleOfShortTermDebt
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Twelve months ended June 30, </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Amount</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(Unaudited)</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">2023</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">30,468</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">2024</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">30,468</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">2025</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">30,468</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">2026</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">30,468</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">2027</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">30,468</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Thereafter</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">658,959</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Total SBA loan payment</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">811,299</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Less: interest</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(298,330 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Present value of SBA loan</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">512,969</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Less; current portion of SBA loan</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(30,468 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Non-current portion of SBA loan</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">482,501</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2022Q2 ewlu Long Term Debt Maturities Repayments Of Principals In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalsInNextTwelveMonths
30468 usd
CY2022Q2 ewlu Long Term Debt Maturities Repayments Of Principals In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalsInYearTwo
30468 usd
CY2022Q2 ewlu Long Term Debt Maturities Repayments Of Principals In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalsInYearThree
30468 usd
CY2022Q2 ewlu Long Term Debt Maturities Repayments Of Principals In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalsInYearFour
30468 usd
CY2022Q2 ewlu Long Term Debt Maturities Repayments Of Principals In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalsInYearFive
30468 usd
CY2022Q2 ewlu Long Term Debt Maturities Repayments Of Principals After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalsAfterYearFive
658959 usd
CY2022Q2 ewlu Sba Loan Payment Gross
SbaLoanPaymentGross
811299 usd
CY2022Q2 ewlu Interest Payables
InterestPayables
-298330 usd
CY2022Q2 ewlu Present Value Of Sba Loan
PresentValueOfSbaLoan
512969 usd
CY2022Q2 ewlu Current Portion Of Sba Loan
CurrentPortionOfSbaLoan
-30468 usd
CY2022Q2 ewlu Non Current Portion Of Sba Loan
NonCurrentPortionOfSbaLoan
482501 usd
CY2022Q2 ewlu Long Term Debt Maturities Repayment Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentOfPrincipalInNextTwelveMonths
17795 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
18621 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
19487 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
13491 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
CY2022Q2 ewlu Total Long Term Debt Payment
TotalLongTermDebtPayment
69394 usd
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
17795 usd
CY2022Q2 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
51599 usd
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
16667 usd
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.07 pure
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.07 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.07 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.07 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.296 pure
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.24 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.289 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.284 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.016 pure
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.04 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.009 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.004 pure
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
ewlu Operating Loss Carry Forward Expiry Description
OperatingLossCarryForwardExpiryDescription
Net operating losses for the years from 2017 through June 30, 2022 of approximately $6.8 million will not expire but are limited to 80% of income until utilized. Net operating losses for the year ended 2016 and prior years of approximately $4.0 million will expire in the years from 2031 to 2036.
CY2022Q2 ewlu Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1 pure
CY2022Q2 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
7036 usd
CY2021Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
0 usd
CY2022Q2 us-gaap Risk Weighted Assets
RiskWeightedAssets
18324 usd
CY2021Q4 us-gaap Risk Weighted Assets
RiskWeightedAssets
0 usd
CY2022Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
3038686 usd
CY2021Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
2892295 usd
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3064046 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2892295 usd
CY2022Q2 ewlu Valuation Allowance
ValuationAllowance
-3064046 usd
CY2021Q4 ewlu Valuation Allowance
ValuationAllowance
-2892295 usd
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
ewlu Changes In The Valuation Allowance
ChangesInTheValuationAllowance
171751 usd
ewlu Changes In The Valuation Allowance
ChangesInTheValuationAllowance
223224 usd
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
618000 usd
CY2019Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0478 pure
CY2022Q2 ewlu Remaining Term Of The Lease3
RemainingTermOfTheLease3
P1Y8M1D
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
279000 usd
CY2020Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0478 pure
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
65482 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
59787 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
63287 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3500 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
119573 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
133573 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
14000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
282033 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
98624 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
380657 usd
CY2022Q2 ewlu Less Interest
LessInterest
11152 usd
CY2022Q2 ewlu Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
369505 usd
CY2022Q2 ewlu Less Current Portion Of Lease Liabilities
LessCurrentPortionOfLeaseLiabilities
-272626 usd
CY2022Q2 ewlu Non Current Portion Of Lease Liabilities
NonCurrentPortionOfLeaseLiabilities
96879 usd
CY2021Q2 ewlu Description Of Reverse Stock Split11
DescriptionOfReverseStockSplit11
1-for-3 reverse stock split

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ewlu-20220630.xsd Edgar Link pending
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