2023 Q1 Form 10-K Financial Statement

#000149315223008518 Filed on March 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.596M $1.596M
YoY Change 277.19% 277.19%
Cash & Equivalents $1.596M $1.596M
Short-Term Investments
Other Short-Term Assets $775.7K $775.7K
YoY Change 780.13%
Inventory $364.0K $364.0K
Prepaid Expenses $578.2K
Receivables $738.3K $738.3K
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.474M $3.474M
YoY Change 354.69% 354.69%
LONG-TERM ASSETS
Property, Plant & Equipment $60.50M $60.50M
YoY Change 85062.25% 85057.45%
Goodwill $29.49M
YoY Change 0.0%
Intangibles $395.0K
YoY Change 37.41%
Long-Term Investments $220.4K $220.4K
YoY Change
Other Assets $1.484M $6.838M
YoY Change
Total Long-Term Assets $97.54M $97.54M
YoY Change 226.76% 226.76%
TOTAL ASSETS
Total Short-Term Assets $3.474M $3.474M
Total Long-Term Assets $97.54M $97.54M
Total Assets $101.0M $101.0M
YoY Change 229.95% 229.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.158M $4.158M
YoY Change
Accrued Expenses $4.400M $4.400M
YoY Change
Deferred Revenue $2.970M
YoY Change 113.98%
Short-Term Debt $448.3K $448.3K
YoY Change
Long-Term Debt Due $3.013M $3.013M
YoY Change 14384.33% 14384.33%
Total Short-Term Liabilities $15.03M $15.03M
YoY Change 698.37% 698.37%
LONG-TERM LIABILITIES
Long-Term Debt $12.54M $12.54M
YoY Change 872.61% 872.61%
Other Long-Term Liabilities $117.5K $50.34M
YoY Change
Total Long-Term Liabilities $62.88M $62.88M
YoY Change 4778.31% 4778.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.03M $15.03M
Total Long-Term Liabilities $62.88M $62.88M
Total Liabilities $77.90M $77.90M
YoY Change 2356.75% 2356.75%
SHAREHOLDERS EQUITY
Retained Earnings -$11.54M
YoY Change 295.62%
Common Stock $34.66M
YoY Change 14.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.12M $23.12M
YoY Change
Total Liabilities & Shareholders Equity $101.0M $101.0M
YoY Change 229.95% 229.95%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022

Facts In Submission

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IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedParties
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IncreaseDecreaseInContractWithCustomerLiability
1362320 usd
CY2021 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
4122 usd
CY2022 us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
1483814 usd
CY2022 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1386009 usd
CY2021 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1967 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1653697 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2155 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
13857704 usd
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
500000 usd
CY2021 ALTD Proceeds From Ppp Loans
ProceedsFromPPPLoans
584377 usd
CY2021 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
1251000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
19250 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
69200 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
377483 usd
CY2022 ALTD Repayments Of Deferred Costs
RepaymentsOfDeferredCosts
197500 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
165091 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
308181 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13117630 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1977246 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8010704 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
289162 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
423165 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
134003 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8433869 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
423165 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
270963 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
23651 usd
CY2022 us-gaap Stock Issued1
StockIssued1
3543025 usd
CY2021 ALTD Issuance Of Common Stock For Accounts Payable Settlement
IssuanceOfCommonStockForAccountsPayableSettlement
90708 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
57759518 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80A_eus-gaap--NatureOfOperations_zDhah6g2GMU1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_824_zkmsk4LGgBQk">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company Background</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Altitude International Holdings, Inc. (f/k/a Altitude International, Inc. or “Altitude-NY,” now referred to as the “Company,” “we,” “us,” “our,” or “Altitude”), was incorporated in the State of New York on July 13, 1994 as “Titan Computer Services, Inc.” On August 21, 2020, the Company filed with the State of New York to change its name from Altitude International, Inc. to Altitude International Holdings, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2017, the Company successfully closed a Share Exchange transaction (the “Share Exchange”) with the shareholders of Altitude International, Inc. (“Altitude International”), a Wisconsin corporation. Altitude International was incorporated on May 18, 2017, under the laws of the state of Wisconsin and has been operating as a wholly owned subsidiary of Altitude since the Share Exchange. Altitude International operates through Northern, Central, and South America sales to execute the current business plan of athletic training industry, specifically altitude training. Our objective is to be recognized as one of the upper tier specialty altitude training equipment providers in the Americas.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 24, 2020, the Company formed a wholly owned subsidiary in Wisconsin called “Altitude Sports Management Corp.,” which has no activity to date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 6, 2021, Altitude entered into a Share Exchange Agreement (the “Agreement”) with Breunich Holding, Inc., a Delaware entity (“BHI”). For financial reporting purposes, the acquisition of BHI and the change of control in connection with the acquisition represented a “reverse merger” and BHI is deemed to be the accounting acquirer in the transaction. BHI is the acquirer for financial reporting purposes, and the Company (Altitude) is the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the acquisition are those of BHI.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Agreement, the Company agreed to issue <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210705__20210706__srt--OwnershipAxis__custom--BreunichHoldingsIncMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zbjdAuaN3EZ" title="Shares issued">295,986,724</span> shares of its common stock to the shareholders of BHI in exchange for <span id="xdx_909_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_c20210706__srt--OwnershipAxis__custom--BreunichHoldingsIncMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zLIlPrRgDTC3" title="Ownership percentage">100%</span> ownership of BHI. The Company also agreed to issue <span id="xdx_902_eus-gaap--PreferredStockSharesIssued_iI_pid_c20210706__srt--OwnershipAxis__custom--BreunichHoldingsIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z2bYGFXkATY5" title="Preferred stock, shares issued">51</span> shares of its Series A preferred stock to Gregory Breunich, CEO and primary owner of BHI, as part of the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the closing of the Agreement, BHI is a wholly owned subsidiary of the Company, with each of its subsidiaries operating as wholly owned subsidiaries. The Company is a holding company comprised of multiple scalable related revenue streams that together create a vertically integrated high-performance sports, education, and technology group. Our mission is to redefine and revolutionize athletic preparation and training.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 26, 2022, the Company formed Altitude Hospitality LLC which was formed for the operations of the hotel resort acquired on September 2, 2022. The membership interests of this business were assigned on March 6, 2023, as described below and are no longer part of the Company’s operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 28, 2022, the Company formed Rush Education LLC. On August 26, 2022, Rush Education registered as a foreign corporation in Hawaii. The Company projects Rush Education being operated in various states.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective as of December 31, 2022, the Company closed Six Log Cleaning &amp; Sanitizing LLC.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0">On March 6, 2023, the Company assigned the membership interests of Altitude Hospitality to FVP Servicing, LLC’s designee (“FVP Servicing”) (see Note 14).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In 2022, we operated through the following wholly owned subsidiaries: BHI, Altitude International, Inc., a Wisconsin corporation (“Altitude Chambers”), Altitude Hospitality LLC (“Altitude Hospitality”), Florida limited liability company, Rush Education LLC (“Rush Education”), a Florida limited liability company, Altitude Sports Management Corp., a Wisconsin corporation (“Altitude Sports Management Corp.”), ITA-USA Enterprise, LLC, a Florida limited liability company (“Altitude Academies”), CMA Soccer, LLC, a Florida limited liability company (“CMAS”), Trident Water, LLC, a Florida limited liability company (“Altitude Water”), Altitude Wellness, LLC, a Florida limited liability company (“Altitude Wellness”), NVL Academy, LLC, a Florida limited liability company (“Altitude Volleyball”), North Miami Beach Academy LLC, a Florida limited liability company (“NMBA”), and Altitude Online, LLC, a Florida limited liability company (“Altitude Online”). On March 6, 2023, Altitude Hospitality was assigned to FVP Servicing (see Note 14).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"/> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"/> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature of Operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Altitude is a holding company focused on a people-first, global wellness group through its operating subsidiaries which are comprised of multiple scalable related revenue streams that together create a vertically integrated high-performance sports, education, and technology group. Our mission is to redefine and revolutionize athletic preparation and training while providing relief, opportunity, and wellness to those that need it the most. </span><span style="font-size: 8pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our sports and education properties comprise what is currently known as Altitude Academies. Our wholly owned subsidiary, Altitude International, Inc. manufactures a variety of world-class hypoxic training chambers, which enables competitive athletes of all kinds to train in a simulated high-altitude environment. This controlled oxygen-deficient environment coupled with specific training protocols achieves numerous scientifically proven benefits in athletic development. Altitude recently has launched its high-performance wellness center, Altitude Wellness, LLC, to serve as the reoccurring revenue model for Altitude’s chamber technology. Altitude Water manufactures several types of Atmospheric Water Generators (“AWG”) ranging from small residential and light commercial to heavy-duty military-grade machines designed for larger-scale uses. Altitude Water’s next-generation air-to-water machines and our proprietary “EnviroGuard™” purification system controlled by our proprietary software produce some of the purest and finest drinking water in the world. Altitude Water’s drinking water is highly oxygenated, ideally suited for athlete hydration amid competitive performance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Altitude’s growth initiatives include scaling the existing tuition categories, adding new ones in sports, arts, and sciences in the coming years, pursuing a consolidation strategy within the soccer club system in the United States, and exponentially growing our accredited academic model. The management team of Altitude is well versed in developing an ecosystem where the business sectors drive network and growth impact between one another, providing increased earnings and value to the Altitude properties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash
Cash
1596138 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-8625824 usd
CY2022Q4 ALTD Working Capital
WorkingCapital
11551443 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zUHINGD77q16" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zkaWzJlBLcKf">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Cash
Cash
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8433869 usd
CY2022Q4 us-gaap Accounts Receivable Net
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CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
197500 usd
CY2022 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
12643243 usd
CY2022 ALTD Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
20734265 usd
CY2022 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-8091022 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
364025 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
161235 usd
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CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
33000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
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CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
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CY2022Q4 ALTD Inventory Golf Course Pro Shop
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29687 usd
CY2022Q4 ALTD Inventory Food And Beverage
InventoryFoodAndBeverage
63191 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
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CY2021Q4 us-gaap Inventory Net
InventoryNet
161235 usd
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CY2021Q4 us-gaap Contract With Customer Liability Current
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CY2022 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
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BusinessAcquisitionProFormaEarningsPerShareBasic
-0.02
CY2022 ALTD Business Acquisition Proforma Weighted Average Number Of Shares Outstanding Basic
BusinessAcquisitionProformaWeightedAverageNumberOfSharesOutstandingBasic
413126318 shares
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
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BusinessAcquisitionsProFormaOperatingExpenses
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-1678915 usd
CY2021 ALTD Business Acquisitions Pro Forma Other Operating Income Expenses
BusinessAcquisitionsProFormaOtherOperatingIncomeExpenses
580385 usd
CY2021 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-1098530 usd
CY2021 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-0.01
CY2021 ALTD Business Acquisition Proforma Weighted Average Number Of Shares Outstanding Basic
BusinessAcquisitionProformaWeightedAverageNumberOfSharesOutstandingBasic
189059461 shares
CY2022Q4 ALTD Netof Accumulated Depreciation Property Plant And Equipment
NetofAccumulatedDepreciationPropertyPlantAndEquipment
30812040 usd
CY2021Q4 ALTD Netof Accumulated Depreciation Property Plant And Equipment
NetofAccumulatedDepreciationPropertyPlantAndEquipment
71036 usd
CY2022Q4 ALTD Hotel Gross
HotelGross
30945527 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
223827 usd
CY2021Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
148893 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
27786 usd
CY2021Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
17331 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
162840 usd
CY2021Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
234835 usd
CY2022Q4 ALTD Operating Shop Equipment Gross
OperatingShopEquipmentGross
257428 usd
CY2021Q4 ALTD Operating Shop Equipment Gross
OperatingShopEquipmentGross
185128 usd
CY2022Q4 ALTD Transportation Equipment Gross
TransportationEquipmentGross
38427 usd
CY2021Q4 ALTD Transportation Equipment Gross
TransportationEquipmentGross
36991 usd
CY2022Q4 ALTD Fixed Assets Gross
FixedAssetsGross
31655835 usd
CY2021Q4 ALTD Fixed Assets Gross
FixedAssetsGross
623178 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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843795 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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552142 usd
CY2022Q4 ALTD Netof Accumulated Depreciation Property Plant And Equipment
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30812040 usd
CY2021Q4 ALTD Netof Accumulated Depreciation Property Plant And Equipment
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71036 usd
CY2022 us-gaap Depreciation
Depreciation
291653 usd
CY2021 us-gaap Depreciation
Depreciation
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CY2022Q4 ALTD Construction Reserve
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245149 usd
CY2022Q4 ALTD Interest Reserve
InterestReserve
1164082 usd
CY2022Q4 ALTD Store Reserve
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5428500 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4422000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4510440 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4600649 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4692662 usd
CY2022Q4 ALTD Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
82775200 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
101000951 usd
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
55000000 usd
CY2022Q4 us-gaap Land
Land
28200000 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
26200000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
29493398 usd
CY2021Q4 us-gaap Goodwill
Goodwill
29493398 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
395049 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
287500 usd
CY2022 us-gaap Amortization Of Intangible Assets
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30000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12500 usd
CY2022Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
19242494 usd
CY2022Q4 us-gaap Notes Payable
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19242494 usd
CY2021Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
1288887 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
20574 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
1309461 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3693895 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3693895 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
15548599 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
15548599 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
1288887 usd
CY2021Q4 ALTD Debt Instrument Unamortized Discount Current Accured Interest
DebtInstrumentUnamortizedDiscountCurrentAccuredInterest
20574 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1309461 usd
CY2021 us-gaap Proceeds From Loans
ProceedsFromLoans
2650000 usd
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
492239343 shares
CY2022 us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
the 51 shares of Series A Preferred Stock would have 501,890,680 votes per share of Series A Preferred Stock
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
51 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
51 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
51 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
51 shares
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Common Stock Voting Rights
CommonStockVotingRights
The shareholders have one vote per share of common stock
CY2021Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
605000000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
600000000 shares
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2021Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12500 shares
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.119
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1488 usd
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12500 shares
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.069
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
862 usd
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12500 shares
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.06
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
750 usd
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12500 shares
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.0327
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
409 usd
CY2022Q2 ALTD Stock Issued During Period Shares Of Common Stock As Debt Discount To Loan
StockIssuedDuringPeriodSharesOfCommonStockAsDebtDiscountToLoan
16363636 shares
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
102754802 shares
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.042
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3091389 usd
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
250000 shares
CY2022Q4 us-gaap Operating Loss Carryforwards
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1352682 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
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254336 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-205425 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-403528 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-48911 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2098346 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
254336 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2352682 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
254336 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
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2352682 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
254336 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2352682 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
254336 usd
CY2022 ALTD Deferred Tax Assets Percentage
DeferredTaxAssetsPercentage
1 pure
CY2021 ALTD Deferred Tax Assets Percentage
DeferredTaxAssetsPercentage
1 pure
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2352682 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
254336 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12209237 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6595867 usd

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