$ANKM
Ankam, Inc.

2023 Q4 Form 10-Q Financial Statement

#000178162923000016 Filed on October 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $7.480K $5.999K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin -$93.28K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.94K
YoY Change
% of Gross Profit
Operating Expenses -$89.27K $75.00K $8.784K
YoY Change 753.87% 70.73%
Operating Profit -$69.01K
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$179.2K $44.90K
YoY Change
Pretax Income -$63.60K -$69.01K -$8.784K
YoY Change 685.58% 70.73%
Income Tax
% Of Pretax Income
Net Earnings -$63.60K -$69.01K -$8.784K
YoY Change 685.58%
Net Earnings / Revenue -850.27% -1150.28%
Basic Earnings Per Share -$0.02 $0.00
Diluted Earnings Per Share -$0.01 -$0.02
COMMON SHARES
Basic Shares Outstanding 4.328M shares 4.328M shares 4.328M shares
Diluted Shares Outstanding 4.328M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.00
YoY Change
Cash & Equivalents $286.00 $355.00 $4.151K
Short-Term Investments
Other Short-Term Assets $64.49K $212.3K
YoY Change
Inventory
Prepaid Expenses $15.85K $20.10K
Receivables $21.39K
Other Receivables $0.00
Total Short-Term Assets $86.17K $55.51K $4.151K
YoY Change -51.27% 1237.32%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $22.16K $248.3K $212.3K
YoY Change -91.77% 16.95%
TOTAL ASSETS
Total Short-Term Assets $86.17K $55.51K $4.151K
Total Long-Term Assets $22.16K $248.3K $212.3K
Total Assets $108.3K $303.8K $216.4K
YoY Change -75.71% 40.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $84.00K $92.60K
YoY Change
Accrued Expenses $44.90K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $292.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $433.6K $565.5K $232.7K
YoY Change -11.9% 143.03%
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 $433.6K $565.5K $232.7K
Total Long-Term Liabilities $0.00
Total Liabilities $433.6K $565.5K $232.7K
YoY Change -11.9% 143.03%
SHAREHOLDERS EQUITY
Retained Earnings -$360.9K $297.3K $51.84K
YoY Change -541.53% 473.44%
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 -$325.3K -$261.7K -$16.25K
YoY Change
Total Liabilities & Shareholders Equity $108.3K $303.8K $216.4K
YoY Change -75.71% 40.36%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$63.60K -$69.01K -$8.784K
YoY Change 685.58%
Depreciation, Depletion And Amortization $24.94K
YoY Change
Cash From Operating Activities -$320.4K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $241.4K
YoY Change
Cash From Investing Activities $241.4K
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 77.01K
YoY Change
NET CHANGE
Cash From Operating Activities -320.4K
Cash From Investing Activities 241.4K
Cash From Financing Activities 77.01K
Net Change In Cash -1.990K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$320.4K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84E_eus-gaap--RevenueRecognitionAllowances_z7yeycyAWAAf" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="text-decoration: underline"><span id="xdx_864_zk6poSCSkS31">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: 0; text-align: justify"> </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"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center">8<br/> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ANKAM, INC.</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>NOTES TO THE FINANCIAL STATEMENTS</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>As of August 31, 2023</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Unaudited)</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center"> </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>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zE1nRYtTzvjc" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="text-decoration: underline"><span id="xdx_86C_zWFBTtchzhzj">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>
CY2022Q4 ankm Server Agreement
ServerAgreement
35058 usd
CY2023Q3 ankm Server Agreement
ServerAgreement
169752 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
297294 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
81736 usd
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
297294 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
81736 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
62432 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
17165 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
62432 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17165 usd

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