2024 Q3 Form 10-Q Financial Statement
#000175392624001616 Filed on September 23, 2024
Income Statement
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
Revenue | $228.5K | |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | $228.5K | |
YoY Change | ||
Gross Profit Margin | 100.0% | |
Selling, General & Admin | $329.8K | $379.3K |
YoY Change | -13.06% | 3310.97% |
% of Gross Profit | 165.98% | |
Research & Development | $2.185M | |
YoY Change | ||
% of Gross Profit | 956.34% | |
Depreciation & Amortization | $151.00 | $0.00 |
YoY Change | ||
% of Gross Profit | 0.0% | |
Operating Expenses | $329.8K | $2.565M |
YoY Change | -87.14% | 22959.84% |
Operating Profit | -$329.8K | -$2.336M |
YoY Change | -85.88% | 20905.19% |
Interest Expense | -$103.4K | |
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | $101.00 | $334.7K |
YoY Change | -99.97% | |
Pretax Income | -$433.3K | -$2.001M |
YoY Change | -78.35% | 17895.45% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$433.3K | $810.00 |
YoY Change | -53589.63% | -107.28% |
Net Earnings / Revenue | 0.35% | |
Basic Earnings Per Share | $0.00 | -$0.04 |
Diluted Earnings Per Share | $0.00 | -$0.01 |
COMMON SHARES | ||
Basic Shares Outstanding | 129.6M shares | 51.30M shares |
Diluted Shares Outstanding | 151.3M shares |
Balance Sheet
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $12.17K | |
YoY Change | ||
Cash & Equivalents | $12.17K | $130.00 |
Short-Term Investments | ||
Other Short-Term Assets | $130.5K | |
YoY Change | ||
Inventory | ||
Prepaid Expenses | ||
Receivables | $755.6K | $680.7K |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $767.8K | $130.5K |
YoY Change | 488.24% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $1.057K | |
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | $268.0K | |
YoY Change | ||
Long-Term Investments | $18.82M | |
YoY Change | ||
Other Assets | $169.4K | |
YoY Change | ||
Total Long-Term Assets | $6.844M | $19.50M |
YoY Change | -64.9% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $767.8K | $130.5K |
Total Long-Term Assets | $6.844M | $19.50M |
Total Assets | $7.612M | $19.63M |
YoY Change | -61.22% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $137.2K | |
YoY Change | ||
Accrued Expenses | $200.9K | $171.1K |
YoY Change | 17.44% | 624.24% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $11.00K | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $506.9K | $228.8K |
YoY Change | 121.51% | 210.09% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $0.00 | |
YoY Change | ||
Total Long-Term Liabilities | $0.00 | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $506.9K | $228.8K |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $506.9K | $228.8K |
YoY Change | 121.51% | 210.09% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$23.50M | -$4.205M |
YoY Change | 458.89% | 440.33% |
Common Stock | $12.83K | $117.6K |
YoY Change | -89.09% | 1037.59% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $7.105M | $19.40M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $7.612M | $19.63M |
YoY Change | -61.22% |
Cashflow Statement
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$433.3K | $810.00 |
YoY Change | -53589.63% | -107.28% |
Depreciation, Depletion And Amortization | $151.00 | $0.00 |
YoY Change | ||
Cash From Operating Activities | -$286.4K | -$2.437M |
YoY Change | -88.25% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | $107.5K | |
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$268.0K | |
YoY Change | ||
Cash From Investing Activities | -$107.5K | -$268.0K |
YoY Change | -59.89% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 311.0K | 2.293M |
YoY Change | -86.43% | |
NET CHANGE | ||
Cash From Operating Activities | -286.4K | -2.437M |
Cash From Investing Activities | -107.5K | -268.0K |
Cash From Financing Activities | 311.0K | 2.293M |
Net Change In Cash | -82.92K | -412.4K |
YoY Change | -79.89% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$286.4K | -$2.437M |
Capital Expenditures | $107.5K | |
Free Cash Flow | -$393.9K | |
YoY Change |
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-750 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-5131480 | usd | |
CY2024Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-433266 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-5131480 | usd | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.10 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
127256650 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
50007263 | shares | |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6789801 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
721862 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-685994 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6825669 | usd |
CY2024Q2 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
95376 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
213328 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7134372 | usd |
CY2024Q3 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
256743 | usd |
CY2024Q3 | arat |
Stock Issued During Period Value Issuance Of Common Stock Upon Settlement Of Shortterm Borrowings
StockIssuedDuringPeriodValueIssuanceOfCommonStockUponSettlementOfShorttermBorrowings
|
147400 | usd |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-433266 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7105249 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-183926 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1066865 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1250791 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
18000000 | usd |
CY2023Q2 | arat |
Stock Issued During Period Value Conversion Of Convertible Securities Promissory Notes
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesPromissoryNotes
|
1100466 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
1959108 | usd |
CY2023Q2 | arat |
Stock Issued During Period Value Issuance Of Common Stock In Conversion Of Convertible Notes Related To Acquisition
StockIssuedDuringPeriodValueIssuanceOfCommonStockInConversionOfConvertibleNotesRelatedToAcquisition
|
550285 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1791316 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
18567751 | usd |
CY2023Q3 | arat |
Stock Issued During Period Value Conversion Of Convertible Securities Promissory Notes
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesPromissoryNotes
|
2830302 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2273299 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19124754 | usd |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-905932 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5131480 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-103400 | usd | |
us-gaap |
Depreciation
Depreciation
|
453 | usd | |
us-gaap |
Noncash Contribution Expense
NoncashContributionExpense
|
377 | usd | |
arat |
Amortization Of Debt Discount Related To Derivative
AmortizationOfDebtDiscountRelatedToDerivative
|
1047879 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
721862 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1959095 | usd | |
us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1047879 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
528636 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
680658 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
138496 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
135033 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-469980 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3718010 | usd | |
us-gaap |
Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
1372620 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1372620 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
362000 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
3718010 | usd | |
us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
44000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
406000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3718010 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1436600 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1448769 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
12169 | usd |
us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
14778000 | usd | |
us-gaap |
Notes Reduction
NotesReduction
|
540000 | usd | |
us-gaap |
Notes Reduction
NotesReduction
|
1812769 | usd | |
us-gaap |
Notes Assumed1
NotesAssumed1
|
522659 | usd | |
arat |
Issuance Of Common Stock Upon Conversion Of Convertible Notes
IssuanceOfCommonStockUponConversionOfConvertibleNotes
|
352118 | usd | |
arat |
Issuance Of Common Stock Upon Conversion Of Convertible Notes
IssuanceOfCommonStockUponConversionOfConvertibleNotes
|
3781478 | usd | |
arat |
Issuance Of Common Stock Upon Settlement Of Debt
IssuanceOfCommonStockUponSettlementOfDebt
|
147400 | usd | |
us-gaap |
Contribution Of Property
ContributionOfProperty
|
268000 | usd | |
arat |
Issuance Of Common Stock For Intangible Assets Related To Cilandro Acquisition
IssuanceOfCommonStockForIntangibleAssetsRelatedToCilandroAcquisition
|
110000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_846_eus-gaap--NatureOfOperations_zpjD6lVwMHS7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_zdA8LLg4Amx6">General</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arax Holdings Corp. (“the Company”) is a <span id="xdx_908_edei--EntityIncorporationStateCountryCode_c20231101__20240731__srt--OwnershipAxis__custom--AraxHoldingsCorpMember_zpurIFWCjCB1" title="Entity incorporation, state or country code">Nevada</span> corporation incorporated on <span id="xdx_90C_edei--EntityIncorporationDateOfIncorporation_c20231101__20240731__srt--OwnershipAxis__custom--AraxHoldingsCorpMember_zDrfYRMnKitl" title="Entity incorporation date">February 23, 2012</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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 Company currently has operations from a growing business in the software development and integration marketplace.</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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management intends to explore and identify business opportunities within North America, Europe, Asia and Africa including a potential acquisition of an operating entity through a reverse merger, asset purchase or similar transaction. Our executives have experience in business consulting, although no assurances can be given that they can identify and implement a viable business strategy or that any such strategy will result in profits. Our ability to effectively identify, develop and implement a viable plan for our business may be hindered by risks and uncertainties which are beyond our control, including without limitation, the continued negative effects of the coronavirus pandemic on the U.S. and global economies.</span></p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_zrEtha81LISl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_863_zfuUK93lGqwh">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“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 amounts of revenues and expenses during the reporting period. Actual results and outcomes may differ from management’s estimates and assumptions. Included in these estimates are assumptions used to estimate collection of accounts receivable, fair value of intangible assets, fair value of capitalized software, deferred income tax asset valuation allowances.</span></p> | ||
CY2024Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q3 | us-gaap |
Depreciation
Depreciation
|
151 | usd |
us-gaap |
Depreciation
Depreciation
|
453 | usd | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_znyii1hUekI5" 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"><i><span id="xdx_86E_zZ5UnIbkq6N">Concentration of Credit Risk and Significant Customers and Vendors</span></i></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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of July 31, 2024, and October 31, 2023 one customer accounted for all of the accounts receivable balance.</span></p> | ||
us-gaap |
Derivative Excluded Component Loss Recognized In Earnings
DerivativeExcludedComponentLossRecognizedInEarnings
|
1047879 | usd | |
us-gaap |
Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
|
-1047879 | usd | |
CY2023Q3 | arat |
Stock Price On Valuation Date
StockPriceOnValuationDate
|
0.70 | |
CY2023Q3 | us-gaap |
Derivative Floor Interest Rate
DerivativeFloorInterestRate
|
0.0553 | pure |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
|
307.56 | |
CY2023Q3 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
0.2 | |
us-gaap |
Derivatives Methods Of Accounting Hedge Documentation
DerivativesMethodsOfAccountingHedgeDocumentation
|
<p id="xdx_848_eus-gaap--DerivativesMethodsOfAccountingHedgeDocumentation_zyjGkOkW1Gn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_867_zB6PbbwT6CAf">Convertible Instruments</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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; color: #212529"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with various accounting standards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529"><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; color: #212529"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 480 “<i>Distinguishing Liabilities From Equity</i>” provides that instruments convertible predominantly at a fixed rate resulting in a fixed monetary amount due upon conversion with a variable quantity of shares (“stock settled debt”) be recorded as a liability at the fixed monetary amount.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529"><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; color: #212529"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 815 “<i>Derivatives and Hedging</i>” generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur, and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of Conventional Convertible Debt Instrument.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529"><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; color: #212529"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 815-40 provides that generally if an event is not within the entity’s control and could require net cash settlement, then the contract shall be classified as an asset or a liability.</span></p> | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1042211 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1000000 | shares | |
CY2024Q3 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
42211 | usd |
CY2024Q3 | us-gaap |
Convertible Preferred Stock Nonredeemable Or Redeemable Issuer Option Value
ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue
|
1000000 | usd |
CY2023Q3 | us-gaap |
Convertible Preferred Stock Nonredeemable Or Redeemable Issuer Option Value
ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue
|
1000000 | usd |
CY2024Q3 | us-gaap |
Convertible Debt
ConvertibleDebt
|
1042211 | usd |
CY2023Q3 | us-gaap |
Convertible Debt
ConvertibleDebt
|
1000000 | usd |
CY2024Q3 | us-gaap |
Cash
Cash
|
470000 | usd |
CY2024Q3 | arat |
Working Capital Deficit
WorkingCapitalDeficit
|
261000 | usd |
us-gaap |
Revenues And Gains Reporting Currency Denominated Value
RevenuesAndGainsReportingCurrencyDenominatedValue
|
682290 | usd | |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
528636 | usd | |
CY2024Q3 | us-gaap |
Business Combination Separately Recognized Transactions Liabilities Recognized
BusinessCombinationSeparatelyRecognizedTransactionsLiabilitiesRecognized
|
18550285 | usd |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
110000 | usd | |
us-gaap |
Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
|
58000 | usd | |
us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
100000 | usd | |
us-gaap |
Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
|
268000 | usd | |
us-gaap |
Taxes And Licenses
TaxesAndLicenses
|
268000 | usd | |
CY2024Q3 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
6405952 | usd |
CY2023Q4 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
5033332 | usd |
CY2024Q3 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
268000 | usd |
CY2023Q4 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
268000 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
|
267000 | usd |
us-gaap |
Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
|
362000 | usd | |
us-gaap |
Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
|
0.10 | pure | |
CY2024Q3 | arat |
Outstanding Notes Amount
OutstandingNotesAmount
|
11000 | usd |
CY2024Q2 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
44000 | usd |
CY2024Q2 | arat |
Settelment Of Outstanding Common Shares1
SettelmentOfOutstandingCommonShares1
|
110000 | shares |
CY2024Q2 | arat |
Stock Price1
StockPrice1
|
1.34 | |
CY2024Q3 | arat |
Short Term Borrowing Loss On Extinguishment
ShortTermBorrowingLossOnExtinguishment
|
103400 | usd |
CY2021Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
16166 | usd |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
83834 | usd |
CY2024Q3 | arat |
Equity Convertible Notes Payable
EquityConvertibleNotesPayable
|
95000 | usd |
CY2024Q3 | arat |
Promissory Notes Stock Issued
PromissoryNotesStockIssued
|
404143 | usd |
CY2024Q2 | arat |
Settelment Of Outstanding Common Shares
SettelmentOfOutstandingCommonShares
|
110000 | shares |
CY2024Q2 | arat |
Stock Price
StockPrice
|
1.34 | |
arat |
Stock Issued During Period Value Convertible Notes Payable
StockIssuedDuringPeriodValueConvertibleNotesPayable
|
550285 | usd | |
arat |
Promissory Notes Stocks Issued
PromissoryNotesStocksIssued
|
3930768 | usd | |
CY2024Q3 | us-gaap |
Asset Acquisition Indemnification Asset Amount
AssetAcquisitionIndemnificationAssetAmount
|
0 | usd |
CY2023Q4 | us-gaap |
Asset Acquisition Indemnification Asset Amount
AssetAcquisitionIndemnificationAssetAmount
|
0 | usd |
CY2024Q3 | arat |
Advances Related Party Transaction Due From To Related Party
AdvancesRelatedPartyTransactionDueFromToRelatedParty
|
57756 | usd |
CY2023Q4 | arat |
Advances Related Party Transaction Due From To Related Party
AdvancesRelatedPartyTransactionDueFromToRelatedParty
|
57756 | usd |