2023 Q2 Form 10-Q Financial Statement
#000149315223029478 Filed on August 21, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q2 |
---|---|---|---|
Revenue | $1.200K | $2.400K | |
YoY Change | -50.0% | 33.33% | |
Cost Of Revenue | $0.00 | ||
YoY Change | |||
Gross Profit | $1.200K | $2.400K | |
YoY Change | -50.0% | 33.33% | |
Gross Profit Margin | 100.0% | 100.0% | |
Selling, General & Admin | $23.51K | ||
YoY Change | 45.03% | ||
% of Gross Profit | 979.58% | ||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $78.00 | $79.00 | |
YoY Change | -1.27% | ||
% of Gross Profit | 6.5% | 3.29% | |
Operating Expenses | $30.93K | $23.51K | |
YoY Change | 31.58% | 44.99% | |
Operating Profit | -$29.73K | -$21.11K | |
YoY Change | 40.85% | 46.45% | |
Interest Expense | $0.00 | ||
YoY Change | -100.0% | ||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$29.73K | -$21.11K | |
YoY Change | 40.85% | 55.89% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$29.73K | -$21.11K | |
YoY Change | 40.85% | 55.89% | |
Net Earnings / Revenue | -2477.25% | -879.38% | |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | -$703.80 | |
COMMON SHARES | |||
Basic Shares Outstanding | 30.00M shares | 30.00M shares | 30.00M shares |
Diluted Shares Outstanding | 30.00M shares | 30.00M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.440K | ||
YoY Change | 11.63% | ||
Cash & Equivalents | $34.32K | $354.00 | $1.439K |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $738.00 | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $35.06K | $354.00 | $1.439K |
YoY Change | 2336.55% | -97.52% | -97.29% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $462.00 | $540.00 | $775.00 |
YoY Change | -40.39% | -36.77% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $462.00 | $540.00 | $775.00 |
YoY Change | -40.39% | -36.77% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $35.06K | $354.00 | $1.439K |
Total Long-Term Assets | $462.00 | $540.00 | $775.00 |
Total Assets | $35.52K | $894.00 | $2.214K |
YoY Change | 1504.52% | -94.09% | -95.82% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $901.00 | ||
YoY Change | |||
Accrued Expenses | $4.302K | $901.00 | $8.596K |
YoY Change | -49.95% | ||
Deferred Revenue | $1.600K | $2.800K | $3.200K |
YoY Change | -50.0% | -50.0% | |
Short-Term Debt | $0.00 | ||
YoY Change | -100.0% | ||
Long-Term Debt Due | $61.00K | ||
YoY Change | |||
Total Short-Term Liabilities | $68.06K | $87.00K | $72.80K |
YoY Change | -6.51% | 34.68% | 0.27% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | ||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $68.06K | $87.00K | $72.80K |
Total Long-Term Liabilities | $0.00 | ||
Total Liabilities | $68.06K | $87.00K | $72.80K |
YoY Change | -6.51% | 34.68% | 0.27% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$306.1K | -$276.3K | -$260.8K |
YoY Change | 17.35% | 15.28% | |
Common Stock | $30.00K | $30.00K | $30.00K |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$32.53K | -$86.11K | -$70.58K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $35.52K | $894.00 | $2.214K |
YoY Change | 1504.52% | -94.09% | -95.82% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$29.73K | -$21.11K | |
YoY Change | 40.85% | 55.89% | |
Depreciation, Depletion And Amortization | $78.00 | $79.00 | |
YoY Change | -1.27% | ||
Cash From Operating Activities | -$28.19K | -$14.83K | |
YoY Change | 90.06% | -8.52% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
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 | $62.16K | $2.000K | |
YoY Change | 3007.8% | ||
NET CHANGE | |||
Cash From Operating Activities | -$28.19K | -$14.83K | |
Cash From Investing Activities | |||
Cash From Financing Activities | $62.16K | $2.000K | |
Net Change In Cash | $33.97K | -$12.83K | |
YoY Change | -364.77% | -20.86% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$28.19K | -$14.83K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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UseOfEstimates
|
<p id="xdx_846_eus-gaap--UseOfEstimates_zChGwdLoUiv" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86E_zMwtbEqusjg">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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"><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: 0pt; 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: 0pt; 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: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-306059 | usd |
CY2023Q2 | ACHN |
Working Capital
WorkingCapital
|
-32996 | usd |
CY2023Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
1600 | usd |
CY2023Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
2800 | usd |
CY2023Q2 | us-gaap |
Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
|
Net operation losses (“NOLs”) can be carried forever based on the 2017 Tax Cuts and Jobs Act | |
CY2023Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
54000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
69000 | usd |
CY2023Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2019Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2019Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
0 | shares |