2024 Q2 Form 10-Q Financial Statement
#000175392624000903 Filed on May 02, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
---|---|---|---|
Revenue | $301.8K | $226.9K | $226.9K |
YoY Change | 33.0% | 0.0% | |
Cost Of Revenue | $0.00 | ||
YoY Change | |||
Gross Profit | $301.8K | $226.9K | |
YoY Change | 33.0% | ||
Gross Profit Margin | 100.0% | 100.0% | |
Selling, General & Admin | $87.54K | $189.9K | $70.40K |
YoY Change | -92.76% | -10.58% | -30.18% |
% of Gross Profit | 29.01% | 83.68% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $151.00 | ||
YoY Change | |||
% of Gross Profit | 0.05% | ||
Operating Expenses | $87.54K | $189.9K | -$3.084M |
YoY Change | -92.76% | -10.58% | -3158.36% |
Operating Profit | $214.2K | $37.02K | |
YoY Change | -121.83% | 154.49% | |
Interest Expense | -$887.00 | $0.00 | |
YoY Change | -96.93% | ||
% of Operating Profit | -0.41% | 0.0% | |
Other Income/Expense, Net | -$1.150K | -$80.00 | |
YoY Change | -99.89% | ||
Pretax Income | $213.3K | -$151.00 | -$15.24M |
YoY Change | -179.51% | -99.99% | 15014.29% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | $213.3K | $35.87K | -$15.24M |
YoY Change | -1735.07% | -124.14% | 15014.29% |
Net Earnings / Revenue | 70.7% | 15.81% | -6716.8% |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | -$0.09 |
COMMON SHARES | |||
Basic Shares Outstanding | 127.6M shares | 82.81M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $95.09K | $3.030K | $1.449M |
YoY Change | |||
Cash & Equivalents | $95.09K | $3.026K | $1.449M |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $755.6K | $453.8K | $227.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $850.7K | $456.9K | $1.676M |
YoY Change | 56.69% | 1538.27% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.208K | $1.360K | $1.510K |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | $268.0K | $268.0K | |
YoY Change | |||
Long-Term Investments | $437.4K | $437.4K | |
YoY Change | |||
Other Assets | $169.4K | $0.00 | |
YoY Change | |||
Total Long-Term Assets | $6.737M | $6.737M | $5.472M |
YoY Change | -64.55% | 2869.41% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $850.7K | $456.9K | $1.676M |
Total Long-Term Assets | $6.737M | $6.737M | $5.472M |
Total Assets | $7.588M | $7.194M | $7.148M |
YoY Change | -61.18% | 2723.71% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $181.2K | $100.0K | $100.0K |
YoY Change | 11052.18% | ||
Accrued Expenses | $114.4K | $110.6K | $100.4K |
YoY Change | 163.56% | 201.66% | -14.11% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $453.3K | $268.4K | $258.1K |
YoY Change | 3.62% | -76.51% | 47.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $453.3K | $268.4K | $258.1K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $453.3K | $268.4K | $258.1K |
YoY Change | -52.58% | -80.78% | 47.82% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$23.07M | -$19.39M | -$19.42M |
YoY Change | 946.91% | 909.48% | 2109.61% |
Common Stock | $12.78K | $126.2K | $126.2K |
YoY Change | -88.33% | 1120.72% | 1120.72% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $7.134M | $6.926M | $6.890M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $7.588M | $7.194M | $7.148M |
YoY Change | -61.18% | 2723.71% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $213.3K | $35.87K | -$15.24M |
YoY Change | -1735.07% | -124.14% | 15014.29% |
Depreciation, Depletion And Amortization | $151.00 | ||
YoY Change | |||
Cash From Operating Activities | -$2.940K | -$180.6K | -$14.95M |
YoY Change | -99.75% | -38.26% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $1.265M | $5.033M |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $18.55M | ||
YoY Change | |||
Cash From Investing Activities | $0.00 | -$1.265M | $13.52M |
YoY Change | -100.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 95.00K | 2.716M | |
YoY Change | -99.53% | ||
NET CHANGE | |||
Cash From Operating Activities | -2.940K | -$180.6K | -14.95M |
Cash From Investing Activities | 0.000 | -$1.265M | 13.52M |
Cash From Financing Activities | 95.00K | 2.716M | |
Net Change In Cash | 92.06K | -$1.446M | 1.286M |
YoY Change | -83.19% | -5284.29% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$2.940K | -$180.6K | -$14.95M |
Capital Expenditures | $0.00 | $1.265M | $5.033M |
Free Cash Flow | -$2.940K | -$1.446M | -$19.98M |
YoY Change |
Facts In Submission
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UseOfEstimates
|
<p id="xdx_84F_eus-gaap--UseOfEstimates_z5kX5xNI4rOd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86A_zL3Q3XnGcXLd">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.</span></p> | |
CY2024Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
100000000 | shares |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
950000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
950000000 | shares |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
126160534 | shares |
CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
126160534 | shares |
CY2024Q1 | us-gaap |
Other Receivables
OtherReceivables
|
57756 | usd |
CY2023Q4 | us-gaap |
Other Receivables
OtherReceivables
|
57756 | usd |