2022 Q1 Form 10-Q Financial Statement
#000147793222003822 Filed on May 23, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $0.00 | $193.00 |
| YoY Change | -100.0% | -89.95% |
| Cost Of Revenue | $0.00 | $1.050K |
| YoY Change | -100.0% | -65.12% |
| Gross Profit | $0.00 | -$857.00 |
| YoY Change | -100.0% | -21.38% |
| Gross Profit Margin | -444.04% | |
| Selling, General & Admin | $54.45K | $12.57K |
| YoY Change | 333.17% | -87.41% |
| % of Gross Profit | ||
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $29.49K | $29.49K |
| YoY Change | 0.0% | 129.99% |
| % of Gross Profit | ||
| Operating Expenses | $83.94K | $42.17K |
| YoY Change | 99.02% | -67.12% |
| Operating Profit | -$83.94K | -$43.03K |
| YoY Change | 95.06% | -66.73% |
| Interest Expense | $459.1K | $53.20K |
| YoY Change | 762.99% | -248.56% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $0.00 | |
| YoY Change | ||
| Pretax Income | $391.0K | $10.17K |
| YoY Change | 3744.94% | -106.16% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | $391.0K | $10.17K |
| YoY Change | 3744.15% | -106.16% |
| Net Earnings / Revenue | 5270.47% | |
| Basic Earnings Per Share | $0.00 | $0.00 |
| Diluted Earnings Per Share | $269.30 | $80.04 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 1.452B shares | 127.1M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $6.480K | $10.77K |
| YoY Change | -39.83% | 109.94% |
| Cash & Equivalents | $6.479K | $10.77K |
| Short-Term Investments | ||
| Other Short-Term Assets | $0.00 | |
| YoY Change | -100.0% | |
| Inventory | $60.82K | |
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $6.479K | $71.58K |
| YoY Change | -90.95% | -45.6% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $99.93K | $150.6K |
| YoY Change | -33.65% | -35.06% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $144.4K | $263.1K |
| YoY Change | -45.11% | -12.57% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $6.479K | $71.58K |
| Total Long-Term Assets | $144.4K | $263.1K |
| Total Assets | $150.9K | $334.7K |
| YoY Change | -54.92% | -22.62% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $237.1K | $295.5K |
| YoY Change | -19.75% | 21.75% |
| Accrued Expenses | $501.3K | $501.3K |
| YoY Change | 0.0% | -8.57% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $1.584M | $1.438M |
| YoY Change | 10.13% | 51.96% |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $3.317M | $3.103M |
| YoY Change | 6.91% | 2.24% |
| 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 | $3.317M | $3.103M |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | $3.317M | $3.103M |
| YoY Change | 6.91% | 2.24% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$34.83M | |
| YoY Change | ||
| Common Stock | $1.466M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$3.166M | -$2.768M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $150.9K | $334.7K |
| YoY Change | -54.92% | -22.62% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $391.0K | $10.17K |
| YoY Change | 3744.15% | -106.16% |
| Depreciation, Depletion And Amortization | $29.49K | $29.49K |
| YoY Change | 0.0% | 129.99% |
| Cash From Operating Activities | -$94.62K | -$17.78K |
| YoY Change | 432.15% | -74.29% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $0.00 | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | $0.00 | |
| 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 | $101.1K | $20.00K |
| YoY Change | 405.48% | -71.22% |
| NET CHANGE | ||
| Cash From Operating Activities | -$94.62K | -17.78K |
| Cash From Investing Activities | $0.00 | |
| Cash From Financing Activities | $101.1K | $20.00K |
| Net Change In Cash | $6.479K | $2.219K |
| YoY Change | 191.98% | 552.65% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$94.62K | -$17.78K |
| Capital Expenditures | $0.00 | |
| Free Cash Flow | -$94.62K | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
1465849017 | shares |
| CY2022Q1 | us-gaap |
Assets Current
AssetsCurrent
|
6479 | USD |
| CY2021Q4 | us-gaap |
Assets Current
AssetsCurrent
|
0 | USD |
| CY2022Q1 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
99930 | USD |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
112416 | USD |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
44467 | USD |
| CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
61466 | USD |
| CY2022Q1 | us-gaap |
Assets
Assets
|
150876 | USD |
| CY2021Q4 | us-gaap |
Assets
Assets
|
173882 | USD |
| CY2022Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
237141 | USD |
| CY2022Q1 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
501250 | USD |
| CY2022Q1 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
253995 | USD |
| CY2022Q1 | gftx |
Convertible Notes And Accrued Interest Net Of Debt Discount
ConvertibleNotesAndAccruedInterestNetOfDebtDiscount
|
0 | USD |
| CY2021Q4 | gftx |
Convertible Notes And Accrued Interest Net Of Debt Discount
ConvertibleNotesAndAccruedInterestNetOfDebtDiscount
|
52720 | USD |
| CY2022Q1 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
363123 | USD |
| CY2022Q1 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
81568 | USD |
| CY2021Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
78568 | USD |
| CY2022Q1 | gftx |
Promissory Note And Accrued Interest Related Party
PromissoryNoteAndAccruedInterestRelatedParty
|
467415 | USD |
| CY2021Q4 | gftx |
Promissory Note And Accrued Interest Related Party
PromissoryNoteAndAccruedInterestRelatedParty
|
376014 | USD |
| CY2022Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
488520 | USD |
| CY2021Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
1058528 | USD |
| CY2022Q1 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
321511 | USD |
| CY2021Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
280416 | USD |
| CY2022Q1 | us-gaap |
Accounts Payable Interest Bearing Current
AccountsPayableInterestBearingCurrent
|
260529 | USD |
| CY2021Q4 | us-gaap |
Accounts Payable Interest Bearing Current
AccountsPayableInterestBearingCurrent
|
259529 | USD |
| CY2022Q1 | gftx |
Self Liquidating Promissory Notes
SelfLiquidatingPromissoryNotes
|
157500 | USD |
| CY2021Q4 | gftx |
Self Liquidating Promissory Notes
SelfLiquidatingPromissoryNotes
|
157500 | USD |
| CY2022Q1 | gftx |
Subscription Payable
SubscriptionPayable
|
100000 | USD |
| CY2021Q4 | gftx |
Subscription Payable
SubscriptionPayable
|
100000 | USD |
| CY2022Q1 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
84281 | USD |
| CY2021Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
84281 | USD |
| CY2022Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2022Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
| CY2022Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
200000 | shares |
| CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2022Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
2500000000 | shares |
| CY2022Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1465849017 | shares |
| CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1450210322 | shares |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3165957 | USD |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3679391 | USD |
| CY2022Q1 | us-gaap |
Revenues
Revenues
|
0 | USD |
| CY2021Q1 | us-gaap |
Revenues
Revenues
|
193 | USD |
| CY2022Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
0 | USD |
| CY2021Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
1050 | USD |
| CY2022Q1 | us-gaap |
Gross Profit
GrossProfit
|
0 | USD |
| CY2021Q1 | us-gaap |
Gross Profit
GrossProfit
|
-857 | USD |
| CY2022Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
22200 | USD |
| CY2021Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
12689 | USD |
| CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
29485 | USD |
| CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
29485 | USD |
| CY2022Q1 | us-gaap |
Professional Fees
ProfessionalFees
|
32250 | USD |
| CY2021Q1 | us-gaap |
Professional Fees
ProfessionalFees
|
0 | USD |
| CY2022Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
83935 | USD |
| CY2021Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
42174 | USD |
| CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-83935 | USD |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-43031 | USD |
| CY2022Q1 | gftx |
Income Loss On Change In Fair Value Of Derivative Liabilities
IncomeLossOnChangeInFairValueOfDerivativeLiabilities
|
570008 | USD |
| CY2021Q1 | gftx |
Income Loss On Change In Fair Value Of Derivative Liabilities
IncomeLossOnChangeInFairValueOfDerivativeLiabilities
|
71743 | USD |
| CY2022Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
15856 | USD |
| CY2022Q1 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
15501 | USD |
| CY2021Q1 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
14938 | USD |
| CY2022Q1 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
95401 | USD |
| CY2021Q1 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
3602 | USD |
| CY2022Q1 | us-gaap |
Other General Expense
OtherGeneralExpense
|
474962 | USD |
| CY2021Q1 | us-gaap |
Other General Expense
OtherGeneralExpense
|
53203 | USD |
| CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.0003 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.0001 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1452110332 | shares |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
127063682 | shares |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2678080 | USD |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10172 | USD |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2667908 | USD |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3679391 | USD |
| CY2022Q1 | gftx |
Conversion Of Notes Payable Amount
ConversionOfNotesPayableAmount
|
62407 | USD |
| CY2022Q1 | gftx |
Stock Warrants Issued For Cash
StockWarrantsIssuedForCash
|
60000 | USD |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
391027 | USD |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3165957 | USD |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
391027 | USD |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10172 | USD |
| CY2022Q1 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
-570008 | USD |
| CY2021Q1 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
-71743 | USD |
| CY2022Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
15856 | USD |
| CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
12486 | USD |
| CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
12486 | USD |
| CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
16999 | USD |
| CY2021Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
16999 | USD |
| CY2022Q1 | gftx |
Bank Indebtedness
BankIndebtedness
|
2455 | USD |
| CY2022Q1 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
0 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
0 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
|
0 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
37711 | USD |
| CY2022Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
110902 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-94616 | USD |
| CY2022Q1 | gftx |
Advances From Related Parties
AdvancesFromRelatedParties
|
41095 | USD |
| CY2021Q1 | gftx |
Advances From Related Parties
AdvancesFromRelatedParties
|
20000 | USD |
| CY2022Q1 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
60000 | USD |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
0 | USD |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
101095 | USD |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
20000 | USD |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
6479 | USD |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
2219 | USD |
| CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
0 | USD |
| CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8548 | USD |
| CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6479 | USD |
| CY2021Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10767 | USD |
| CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | USD |
| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | USD |
| CY2022Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | USD |
| CY2021Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | USD |
| CY2022Q1 | gftx |
Shares Issued For Convetible Notes Settlement
SharesIssuedForConvetibleNotesSettlement
|
78263 | USD |
| CY2021Q1 | gftx |
Shares Issued For Convetible Notes Settlement
SharesIssuedForConvetibleNotesSettlement
|
0 | USD |
| CY2022Q1 | gftx |
Common Stock Share Authorized
CommonStockShareAuthorized
|
2500000000 | shares |
| CY2022Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-34831503 | USD |
| CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-35222530 | USD |
| CY2022Q1 | gftx |
Working Capital Deficit
WorkingCapitalDeficit
|
-3310354 | USD |
| CY2021Q4 | gftx |
Working Capital Deficit
WorkingCapitalDeficit
|
-3853273 | USD |
| CY2022Q1 | us-gaap |
Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Property and equipment are stated at cost. Costs of replacements and major improvements are capitalized, and maintenance and repairs are charged to operations as incurred. Depreciation expense is provided primarily by the straight-line method over the estimated useful lives of the assets as follows:</p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Equipment</p></td><td style="width:14%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">5 Years</p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Furniture and Fixtures</p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">7 Years</p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Forklift</p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">3 Years</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>March 31, 2022</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31, 2021</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Furniture and Equipment</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">216,398</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">216,398</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Forklift</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">20,433</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">20,433</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">239,831</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">2,366,818</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Less accumulated depreciation</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(136,901 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(124,415 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">99,930</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">112,416</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Depreciation expense amounted to $29,485 and $12,486 for the three months ended March 31, 2022 and 2021, respectively.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The long-lived assets of the Company are reviewed for impairment in accordance with ASC 360, “Property, Plant and Equipment” (“ASC 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">During the three months ended March 31, 2022 and 2021, no impairment losses have been identified.</p> | |
| CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
216398 | USD |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
216398 | USD |
| CY2022Q4 | gftx |
Forklift
Forklift
|
20433 | USD |
| CY2021Q4 | gftx |
Forklift
Forklift
|
20433 | USD |
| CY2022Q4 | gftx |
Total Fixed Assets
TotalFixedAssets
|
239831 | USD |
| CY2021Q4 | gftx |
Total Fixed Assets
TotalFixedAssets
|
2366818 | USD |
| CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
136901 | USD |
| CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
124415 | USD |
| CY2022Q4 | us-gaap |
Assets Net
AssetsNet
|
99930 | USD |
| CY2021Q4 | us-gaap |
Assets Net
AssetsNet
|
112416 | USD |
| CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
29485 | USD |
| CY2021Q1 | us-gaap |
Depreciation
Depreciation
|
12486 | USD |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P15Y | |
| CY2022Q1 | gftx |
Amortization For The Intangible Assets
AmortizationForTheIntangibleAssets
|
148096 | USD |
| gftx |
Amortization For The Intangible Assets
AmortizationForTheIntangibleAssets
|
148096 | USD | |
| CY2022Q1 | gftx |
Less Accumulated Amortization
LessAccumulatedAmortization
|
-103629 | USD |
| gftx |
Less Accumulated Amortization
LessAccumulatedAmortization
|
-86630 | USD | |
| CY2022Q1 | gftx |
Amortization For The Intangible Assets Net
AmortizationForTheIntangibleAssetsNet
|
44467 | USD |
| gftx |
Amortization For The Intangible Assets Net
AmortizationForTheIntangibleAssetsNet
|
61466 | USD | |
| CY2022Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
29425 | USD |
| CY2021Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
307 | USD |
| CY2022Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Significant items subject to such estimates and assumptions include the valuation of stock-based awards issued and derivatives embedded in financial instruments. Estimates are used in the determination of depreciation, the valuation of non-cash issuances of common stock, stock options and warrants, valuing convertible notes for beneficial conversion features, among others.</p> | |
| CY2022Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The carrying value of short-term financial instruments, including cash, restricted cash, trade accounts receivable, accounts payable, accrued expenses and short-term debt, approximates the fair value of these instruments. These financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. The Company maintains cash balances at financial institutions that are insured by the FDIC. On March 31,2022 and December 31, 2021, the Company had no amounts in excess of the FDIC limit.</p> | |
| CY2022Q1 | us-gaap |
Reclassifications
Reclassifications
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. </p> | |
| CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2022Q1 | gftx |
Advances From Related Parties
AdvancesFromRelatedParties
|
41095 | USD |
| CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
173109492 | shares |
| CY2021 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
158347309 | shares |
