2023 Q1 Form 10-K Financial Statement
#000173112223000466 Filed on March 28, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $10.68M | $12.77M | $12.77M |
YoY Change | 1571.62% | 607.99% | |
Cash & Equivalents | $10.68M | $12.77M | $12.77M |
Short-Term Investments | |||
Other Short-Term Assets | $496.3K | $519.7K | $519.7K |
YoY Change | 2396.73% | 487.41% | |
Inventory | $42.83K | ||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $11.22M | $13.29M | $13.29M |
YoY Change | 1603.04% | 602.36% | 602.36% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.022M | $765.4K | $927.5K |
YoY Change | 281.65% | 224.92% | 293.72% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $7.520K | $7.520K | $7.520K |
YoY Change | |||
Other Assets | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Total Long-Term Assets | $1.170M | $935.0K | $935.0K |
YoY Change | 138.94% | 174.14% | 174.14% |
TOTAL ASSETS | |||
Total Short-Term Assets | $11.22M | $13.29M | $13.29M |
Total Long-Term Assets | $1.170M | $935.0K | $935.0K |
Total Assets | $12.39M | $14.22M | $14.22M |
YoY Change | 978.93% | 536.95% | 536.95% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $49.56K | $99.03K | $99.03K |
YoY Change | 34.0% | 642.73% | 642.91% |
Accrued Expenses | $77.17K | $92.77K | $179.0K |
YoY Change | 222.88% | 164.08% | 409.56% |
Deferred Revenue | $5.800K | $5.300K | |
YoY Change | |||
Short-Term Debt | $0.00 | $169.9K | $169.9K |
YoY Change | -100.0% | -71.55% | |
Long-Term Debt Due | $16.83K | ||
YoY Change | |||
Total Short-Term Liabilities | $237.1K | $453.2K | $453.2K |
YoY Change | 96.98% | -34.36% | -29.78% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $72.74K | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $45.92K | $68.53K | $68.53K |
YoY Change | |||
Total Long-Term Liabilities | $118.7K | $68.53K | $68.53K |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $237.1K | $453.2K | $453.2K |
Total Long-Term Liabilities | $118.7K | $68.53K | $68.53K |
Total Liabilities | $355.8K | $521.7K | $521.7K |
YoY Change | 195.54% | -24.43% | -19.16% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$6.093M | -$4.088M | |
YoY Change | 793.37% | ||
Common Stock | $10.45K | $10.45K | |
YoY Change | 49.29% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $12.04M | $13.70M | $13.70M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $12.39M | $14.22M | $14.22M |
YoY Change | 978.93% | 536.95% | 536.95% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|
Facts In Submission
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FORZA X1, INC. | |
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DE | |
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3101 S US-1 | |
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<p id="xdx_847_eus-gaap--UseOfEstimates_zTraow1HpVU8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_861_zXRNwWFE2eCc">Use of Estimates</span></i></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">The preparation of financial statements in conformity with U.S. GAAP required management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. Included in those estimates are assumptions about useful life of fixed assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | |
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Working Capital
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0.04 | pure |
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30067 | usd |
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16090 | usd |
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36186 | usd |
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13007 | usd |
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92767 | usd |
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35128 | usd |
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Short Term Lease Payments
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2500 | usd |
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Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y | |
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Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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1441500 | shares |
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4009913 | |
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1441500 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.41 | |
CY2022 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P9Y9M7D | |
CY2022Q4 | FRZA |
Fair Value Of Option Outstanding
FairValueOfOptionOutstanding
|
4009913 | usd |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
117986 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
5.00 | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P9Y9M7D | |
CY2022Q4 | FRZA |
Due To Twin Vee
DueToTwinVee
|
169851 | usd |
CY2021Q4 | FRZA |
Due To Twin Vee
DueToTwinVee
|
641917 | usd |
CY2022 | us-gaap |
Payments For Rent
PaymentsForRent
|
3400 | usd |
CY2022 | us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
1099468 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
532000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
532000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
532000 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
532000 | usd |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies State And Local
EffectiveIncomeTaxRateReconciliationTaxContingenciesStateAndLocal
|
0.02 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies State And Local
EffectiveIncomeTaxRateReconciliationTaxContingenciesStateAndLocal
|
0.02 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies State And Local
EffectiveIncomeTaxRateReconciliationTaxContingenciesStateAndLocal
|
0.02 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.230 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.230 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | pure |