2023 Q1 Form 10-Q Financial Statement

#000149315223004389 Filed on February 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q1
Revenue $4.000K $2.400K
YoY Change 185.71% 33.33%
Cost Of Revenue $0.00
YoY Change
Gross Profit $4.000K $2.400K
YoY Change 344.44% 33.33%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $10.77K $6.060K
YoY Change -46.7% -36.21%
% of Gross Profit 269.3% 252.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.00 $40.00
YoY Change 166.67%
% of Gross Profit 2.0% 1.67%
Operating Expenses $10.77K $6.060K
YoY Change -46.7% -36.21%
Operating Profit -$6.772K -$3.660K
YoY Change -64.93% -52.47%
Interest Expense $0.00 $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$6.772K -$3.660K
YoY Change -64.93% -46.49%
Income Tax
% Of Pretax Income
Net Earnings -$6.772K -$3.660K
YoY Change -64.93% -46.49%
Net Earnings / Revenue -169.3% -152.5%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 -$122.00
COMMON SHARES
Basic Shares Outstanding 30.00M shares 30.00M shares
Diluted Shares Outstanding 30.00M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $900.00 $14.27K
YoY Change -94.19% -18.46%
Cash & Equivalents $354.00 $901.00 $14.27K
Short-Term Investments
Other Short-Term Assets $510.00
YoY Change
Inventory
Prepaid Expenses $506.00
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $354.00 $1.407K $14.27K
YoY Change -97.52% -90.92% -79.13%
LONG-TERM ASSETS
Property, Plant & Equipment $540.00 $619.00 $854.00
YoY Change -36.77% -30.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $540.00 $619.00 $854.00
YoY Change -36.77% -30.45%
TOTAL ASSETS
Total Short-Term Assets $354.00 $1.407K $14.27K
Total Long-Term Assets $540.00 $619.00 $854.00
Total Assets $894.00 $2.026K $15.12K
YoY Change -94.09% -87.63% -77.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $901.00 $600.00
YoY Change -88.0%
Accrued Expenses $901.00
YoY Change
Deferred Revenue $2.800K $4.000K $5.600K
YoY Change -50.0%
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $76.30K $59.00K
YoY Change
Total Short-Term Liabilities $87.00K $80.90K $64.60K
YoY Change 34.68% 886.59% -13.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.00K $80.90K $64.60K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $87.00K $80.90K $64.60K
YoY Change 34.68% 30.06% -13.17%
SHAREHOLDERS EQUITY
Retained Earnings -$276.3K -$269.1K -$239.7K
YoY Change 15.28%
Common Stock $30.00K $30.00K $30.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$86.11K -$78.87K -$49.48K
YoY Change
Total Liabilities & Shareholders Equity $894.00 $2.026K $15.12K
YoY Change -94.09% -87.63% -77.88%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income -$6.772K -$3.660K
YoY Change -64.93% -46.49%
Depreciation, Depletion And Amortization $80.00 $40.00
YoY Change 166.67%
Cash From Operating Activities -$5.800K -$4.650K
YoY Change -63.01% -51.05%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.580K
YoY Change
Cash From Investing Activities $0.00 -$1.580K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.400K 5.000K
YoY Change -131.76%
NET CHANGE
Cash From Operating Activities -5.800K -4.650K
Cash From Investing Activities 0.000 -1.580K
Cash From Financing Activities 5.400K 5.000K
Net Change In Cash -400.0 -1.230K
YoY Change -98.78% -87.05%
FREE CASH FLOW
Cash From Operating Activities -$5.800K -$4.650K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$5.800K -$4.650K
YoY Change -63.01%

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<p id="xdx_84E_eus-gaap--UseOfEstimates_zi7wu6BxAlA8" 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 style="text-decoration: underline"><span id="xdx_864_zDN75oflll68">Use of Estimates</span></span></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 accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”).</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 the Company’s financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions.</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>
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Files In Submission

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