$ANKM
Ankam, Inc.

2023 Q3 Form 10-Q Financial Statement

#000178162923000012 Filed on July 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $5.999K $10.60K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $561.00
YoY Change
% of Gross Profit
Operating Expenses $75.00K $75.47K $6.542K
YoY Change 753.87% 1053.68% 34.19%
Operating Profit -$69.01K
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $44.90K $44.90K
YoY Change
Pretax Income -$69.01K -$64.88K $6.542K
YoY Change 685.58% -1091.68% 34.19%
Income Tax
% Of Pretax Income
Net Earnings -$69.01K -$64.88K -$6.542K
YoY Change 685.58% 891.68% 34.19%
Net Earnings / Revenue -1150.28% -612.15%
Basic Earnings Per Share -$0.02 -$0.02 $0.00
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 4.328M shares 4.328M shares 4.258M shares
Diluted Shares Outstanding 4.328M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $355.00 $3.956K $7.692K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $20.10K $10.00K
Receivables
Other Receivables
Total Short-Term Assets $55.51K $93.91K $164.5K
YoY Change 1237.32% -42.91%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $248.3K $255.2K $60.61K
YoY Change 16.95% 321.11%
TOTAL ASSETS
Total Short-Term Assets $55.51K $93.91K $164.5K
Total Long-Term Assets $248.3K $255.2K $60.61K
Total Assets $303.8K $349.2K $225.1K
YoY Change 40.36% 55.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $167.5K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $565.5K $541.9K $232.6K
YoY Change 143.03% 132.97%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $565.5K $541.9K $232.6K
Total Long-Term Liabilities
Total Liabilities $565.5K $541.9K $232.6K
YoY Change 143.03% 132.97%
SHAREHOLDERS EQUITY
Retained Earnings $297.3K $228.3K $43.06K
YoY Change 473.44% 430.16%
Common Stock $4.328K $4.328K $4.328K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$261.7K -$192.7K -$7.470K
YoY Change
Total Liabilities & Shareholders Equity $303.8K $349.2K $225.1K
YoY Change 40.36% 55.1%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$69.01K -$64.88K -$6.542K
YoY Change 685.58% 891.68% 34.19%
Depreciation, Depletion And Amortization $561.00
YoY Change
Cash From Operating Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_84B_eus-gaap--RevenueRecognitionAllowances_z8ZgpafFmON3" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="text-decoration: underline"><span id="xdx_86A_z0chc2wWUDsg">Revenue Recognition</span></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company offers a newsletter subscription, which contains the most significant news in the cryptocurrency market. In most cases identified articles show price changes, experts opinions, technical information that can be used to understand the market and make right decisions in this area.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center">10<br/> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ANKAM</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center"><b>NOTES TO THE FINANCIAL STATEMENTS</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center"><b>As of May 31, 2023</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center">(Unaudited)</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue in accordance with Accounting Standards Update (“ASU”) No. 2014-09, <i>"Revenue from Contracts with Customer"</i>. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 1: Identify the contract with a customer</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 2: Identify the performance obligations in the contract</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 3: Determine the transaction price</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 4: Allocate the transaction price to the performance obligations in the contract</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0">The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0">The Company collects payment from customers before the service is provided. If deposits are collected before the service is provided, the Company recognizes deferred revenue.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
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<p id="xdx_84C_eus-gaap--UseOfEstimates_zEjap79HZvn" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="text-decoration: underline"><span id="xdx_86A_zQ9oZEHKcC59">Use of Estimates</span></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with GAAP 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
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CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
47940 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17165 usd

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