ROCKETFUEL BLOCKCHAIN, INC.

2023 Q4 Form 10-Q Financial Statement

#000149315223037327 Filed on October 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2022 Q2

Balance Sheet

Concept 2023 Q4 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $112.0K $1.437M
YoY Change -92.21% 183.7%
Cash & Equivalents $112.0K $1.493M
Short-Term Investments
Other Short-Term Assets $176.2K $137.0K
YoY Change 28.6% 128.37%
Inventory
Prepaid Expenses
Receivables $1.450K $1.362K
Other Receivables $0.00 $0.00
Total Short-Term Assets $289.7K $1.575M
YoY Change -81.61% 168.59%
LONG-TERM ASSETS
Property, Plant & Equipment $28.20K $541.0K
YoY Change -94.79%
Goodwill
YoY Change
Intangibles $450.4K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $478.6K $541.0K
YoY Change -11.53%
TOTAL ASSETS
Total Short-Term Assets $289.7K $1.575M
Total Long-Term Assets $478.6K $541.0K
Total Assets $768.3K $2.116M
YoY Change -63.7% 260.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $603.9K $657.4K
YoY Change -8.15% 182.36%
Accrued Expenses
YoY Change
Deferred Revenue $55.84K $11.29K
YoY Change 394.54%
Short-Term Debt $403.5K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.089M $716.4K
YoY Change 51.98% 168.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.089M $716.4K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.089M $716.4K
YoY Change 51.98% 168.66%
SHAREHOLDERS EQUITY
Retained Earnings -$13.73M -$10.12M
YoY Change 35.69%
Common Stock $32.43K $28.37K
YoY Change 14.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$320.5K $1.400M
YoY Change
Total Liabilities & Shareholders Equity $768.3K $2.116M
YoY Change -63.7% 260.83%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2022 Q2

Facts In Submission

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We then computed the present value of the bond components of the Note assuming (1) conversion upon an event of default and (2) repayment of the Note in full in cash, in each case using a 35% discount factor for a term of 0.86 years, and weighted the resulting present values based on assumed probabilities of 85% for conversion upon an event of default, 10% for repayment in full and 5% for complete default. We then applied a 6.4% issuance negotiation discount to the resulting probability-weighted bond value. The 35% discount rate was calculated by adding the observed issuance spread of 29.6% to the risk-free rate of 5.4% per annum for the remaining term of 0.86 years. We determined that the amount of derivative liability for the fiscal quarter ended June 30, 2023, as well as the change from the previous quarter, was not material.
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<p id="xdx_84B_eus-gaap--UseOfEstimates_zlg7HKGD9pZa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_866_zFfHuip5E5S2">Use of Accounting Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments, which are evaluated on an ongoing basis, and that affect the reported amounts of assets and liabilities and 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. Management bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the amounts of revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and judgments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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172331 usd
CY2022Q2 us-gaap Depreciation
Depreciation
172331 usd
CY2023Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
87081 usd
CY2022Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
87081 usd
CY2023Q2 us-gaap Legal Fees
LegalFees
6663 usd
CY2022Q2 us-gaap Legal Fees
LegalFees
58058 usd
CY2023Q2 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
25562 usd
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
25633 usd
CY2023Q2 us-gaap Revenues
Revenues
235459 usd
CY2022Q2 us-gaap Revenues
Revenues
8132 usd
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
55844 usd
CY2023Q1 us-gaap Deferred Revenue
DeferredRevenue
57231 usd
CY2023Q2 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
64583.35 usd
CY2023Q1 us-gaap Debt Instrument Description
DebtInstrumentDescription
(i) the principal amount thereof shall equal the amount of salary deferred; (ii) the Notes shall mature on October 1, 2023; (iii) the Notes shall bear interest at a rate of 10% per annum; (iv) if not repaid by December 31, 2023, there shall be a 50% premium, and if the Notes are not repaid by their maturity, there shall a 100% premium
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
150000 usd
CY2023Q2 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
Upon the occurrence and during the continuation of any Event of Default, the Note shall become immediately due and payable and we will be obligated to pay to the Lender, in full satisfaction of our obligations, an amount equal to 150% times the sum of (w) the then outstanding principal amount of the Note plus (x) accrued and unpaid interest on the unpaid principal amount of the Note to the date of payment plus (y) default interest, if any, at the rate of 22% per annum on the amounts referred to in clauses (w) and/or (x) plus (z) any amounts owed to the Holder pursuant to the conversion rights referred to below
CY2023Q2 us-gaap Debt Instrument Convertible Conversion Ratio1
DebtInstrumentConvertibleConversionRatio1
0.61 pure
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
On May 10, 2022, the Board has approved a plan to increase the number of shares to 8,000,000 for 2018 plan
CY2020Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
5100000 usd
CY2023Q1 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
750000 usd
CY2023Q1 us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
525000 usd

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0001493152-23-037327.txt Edgar Link pending
0001493152-23-037327-xbrl.zip Edgar Link pending
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