$ASST
Asset Entities Inc.

2024 Q3 Form 10-Q Financial Statement

#000121390024098471 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $202.9K
YoY Change 237.44%
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
YoY Change
% of Gross Profit
Operating Expenses $1.518M
YoY Change 21.4%
Operating Profit -$1.315M
YoY Change 10.49%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$1.315M
YoY Change 10.49%
Net Earnings / Revenue -648.22%
Basic Earnings Per Share -$0.41
Diluted Earnings Per Share -$0.41
COMMON SHARES
Basic Shares Outstanding 3.218M shares
Diluted Shares Outstanding 3.218M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.098M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $121.2K
Receivables
Other Receivables
Total Short-Term Assets $2.220M
YoY Change -46.43%
LONG-TERM ASSETS
Property, Plant & Equipment $23.97K
YoY Change 227.49%
Goodwill
YoY Change
Intangibles $309.5K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $333.5K
YoY Change 4455.63%
TOTAL ASSETS
Total Short-Term Assets $2.220M
Total Long-Term Assets $333.5K
Total Assets $2.553M
YoY Change -38.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue $610.00
YoY Change -97.41%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $297.6K
YoY Change 119.93%
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 $297.6K
Total Long-Term Liabilities
Total Liabilities $297.6K
YoY Change 119.93%
SHAREHOLDERS EQUITY
Retained Earnings -$9.995M
YoY Change 137.41%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.255M
YoY Change
Total Liabilities & Shareholders Equity $2.553M
YoY Change -38.5%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$1.315M
YoY Change 10.49%
Depreciation, Depletion And Amortization
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

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-41612
dei Entity Registrant Name
EntityRegistrantName
ASSET ENTITIES INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
88-1293236
dei Entity Address Address Line1
EntityAddressAddressLine1
100 Crescent Ct
dei Entity Address Address Line2
EntityAddressAddressLine2
7th Floor
dei Entity Address City Or Town
EntityAddressCityOrTown
Dallas
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
75201
dei City Area Code
CityAreaCode
(214)
dei Local Phone Number
LocalPhoneNumber
459-3117
dei Security12b Title
Security12bTitle
Class B Common Stock, $0.0001 par value per share
dei Trading Symbol
TradingSymbol
ASST
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
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<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"><b><i>Use of Estimates</i></b></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 interim 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 interim financial statements and the reported amounts of expenses during the reporting period. Some of these judgments can be subjective and complex, and, consequently, actual results may differ from these estimates.</span></p>
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0.0001
asst Percentage Of Excess Beneficial Ownership As Conversion Price
PercentageOfExcessBeneficialOwnershipAsConversionPrice
0.0499 pure
CY2024Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
30800 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.75
CY2024Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2024Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
155000 usd
us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
1302500 usd
CY2024Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
197500 usd
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.75
us-gaap Dividends Stock
DividendsStock
7766 usd
us-gaap Stock Dividends Shares
StockDividendsShares
412947 shares
CY2024Q3 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
5000000 usd
CY2024Q3 asst Percentage Of Gross Sales Price
PercentageOfGrossSalesPrice
0.03 pure
CY2024Q3 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
176876 usd
CY2023Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
176876 usd
CY2024Q2 us-gaap Payments For Purchase Of Securities Operating Activities
PaymentsForPurchaseOfSecuritiesOperatingActivities
1000000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.0999 pure
CY2023Q3 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1000000 usd
CY2023Q3 asst Percentage Of Weighted Average Price
PercentageOfWeightedAveragePrice
0.85 pure
CY2024Q1 asst Percentage Of Weighted Average Price
PercentageOfWeightedAveragePrice
0.85 pure
CY2024Q2 us-gaap Share Price
SharePrice
1.7
us-gaap Officers Compensation
OfficersCompensation
16907 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.07 pure
asst Percentage Of Gross Sales Price
PercentageOfGrossSalesPrice
0.03 pure
us-gaap Other Expenses
OtherExpenses
60000 usd
us-gaap Cost Maintenance
CostMaintenance
5000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
910583 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
904241 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M20D
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 us-gaap Common Stock Value
CommonStockValue
usd
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
usd
CY2024Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
usd
CY2024Q3 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
usd
CY2024Q3 asst Cancellation Of Common Stock
CancellationOfCommonStock
usd
CY2024Q3 asst Stock Issued During Period Value Reverse Stock Splits
StockIssuedDuringPeriodValueReverseStockSplits
usd
CY2023Q3 asst Rounding Adjustment
RoundingAdjustment
usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
usd
us-gaap Stock Issued1
StockIssued1
usd
asst Conversion From Series A Convertible Preferred Stock To Class B Common Stock
ConversionFromSeriesAConvertiblePreferredStockToClassBCommonStock
usd
asst Class B Common Stock Issued For Purchase Of Intangible Assets
ClassBCommonStockIssuedForPurchaseOfIntangibleAssets
usd
asst Cancellation Of Class B Common Stock
CancellationOfClassBCommonStock
usd
asst Reverse Stock Split Adjustment
ReverseStockSplitAdjustment
usd
asst Deferral Of Revenue
DeferralOfRevenue
usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001920406

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0001213900-24-098471.txt Edgar Link pending
0001213900-24-098471-xbrl.zip Edgar Link pending
asst-20240930.xsd Edgar Link pending
ea0221018-10q_asset.htm Edgar Link pending
ea022101801ex31-1_asset.htm Edgar Link pending
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ea022101801ex32-1_asset.htm Edgar Link pending
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ea0221018-10q_asset_htm.xml Edgar Link completed
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