Genvor Inc

2023 Q3 Form 10-Q Financial Statement

#000149315223027320 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.35K $100.00
YoY Change
Cash & Equivalents $44.35K $100.00 $435.4K
Short-Term Investments
Other Short-Term Assets $1.500K
YoY Change
Inventory
Prepaid Expenses $21.98K $0.00
Receivables
Other Receivables
Total Short-Term Assets $66.33K $1.600K $435.4K
YoY Change -77.77% -99.63%
LONG-TERM ASSETS
Property, Plant & Equipment $15.73K $16.19K $18.02K
YoY Change -10.42% -10.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $15.73K $16.19K $20.02K
YoY Change -10.43% -19.13%
TOTAL ASSETS
Total Short-Term Assets $66.33K $1.600K $435.4K
Total Long-Term Assets $15.73K $16.19K $20.02K
Total Assets $82.06K $17.79K $455.4K
YoY Change -74.03% -96.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $388.8K $134.0K $14.36K
YoY Change -24.75% 833.13%
Accrued Expenses $34.97K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $48.75K $48.75K
YoY Change
Long-Term Debt Due $1.320M $1.180M
YoY Change
Total Short-Term Liabilities $1.787M $1.845M $1.553M
YoY Change -4.32% 18.82% 40273.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $179.6K
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $179.6K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.787M $1.845M $1.553M
Total Long-Term Liabilities $179.6K
Total Liabilities $1.787M $2.024M $1.865M
YoY Change -8.68% 8.54%
SHAREHOLDERS EQUITY
Retained Earnings -$17.72M -$16.90M -$15.78M
YoY Change 8.78% 7.15% 38645.73%
Common Stock $19.06K $18.57K $285.00
YoY Change -50.72% 6416.84% -98.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $300.0K
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.705M -$2.007M -$1.410M
YoY Change
Total Liabilities & Shareholders Equity $82.06K $17.79K $455.4K
YoY Change -74.03% -96.09%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2

Facts In Submission

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1135946 usd
GNVR Accrued Payroll Settled Through Common Stock Issuance
AccruedPayrollSettledThroughCommonStockIssuance
125750 usd
GNVR Right Of Use Asset Lease Asset And Liability
RightOfUseAssetLeaseAssetAndLiability
13480 usd
GNVR Prepaid Costs For Reverse Capitalization Recognized In Additional Paid In Capital
PrepaidCostsForReverseCapitalizationRecognizedInAdditionalPaidInCapital
150000 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-16904197 usd
us-gaap Profit Loss
ProfitLoss
615780 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-583786 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zjARIpBtMKW" 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_865_z4lDw6rqS2Tl">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 requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and 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>
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
0 usd
CY2022Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
46386 usd
CY2023Q2 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P7Y
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
109248 usd
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
18144112 shares
CY2022Q2 GNVR Common Stock Retaining Share Value
CommonStockRetainingShareValue
1855888 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
25000 shares
CY2023Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
12500 usd
CY2023Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2696890 usd
CY2023Q2 GNVR Dilutive Securities Outstanding
DilutiveSecuritiesOutstanding
22065343 shares
CY2022Q3 GNVR Dilutive Securities Outstanding
DilutiveSecuritiesOutstanding
1460009 shares
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1479500 usd
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
1435000 shares
CY2023Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
120445 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
1359055 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
17511 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
73242 usd
GNVR Late Fees
LateFees
90000 usd
GNVR Late Fees
LateFees
90000 usd
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2022Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2572885 usd
CY2022 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 Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-110344 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-204559 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-13662 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-25326 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
124006 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
229885 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2696890 usd
CY2022Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2572885 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2696890 usd
CY2022Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2572885 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2696890 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2572885 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2696890 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2572885 usd
CY2023Q2 us-gaap Assets Held In Trust
AssetsHeldInTrust
19705 usd
CY2022Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
19705 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
2810 usd
us-gaap Payments For Rent
PaymentsForRent
10187 usd
us-gaap Payments For Rent
PaymentsForRent
20607 usd

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