$ATLX
Atlas Lithium Corp

2013 Q3 Form 10-Q Financial Statement

#000114420413056395 Filed on October 23, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $265.2K $0.00 $0.00
YoY Change
Cost Of Revenue $140.0K $0.00
YoY Change
Gross Profit $126.0K $0.00
YoY Change
Gross Profit Margin 47.53%
Selling, General & Admin $200.0K $0.00 $20.00K
YoY Change 900.0%
% of Gross Profit 158.68%
Research & Development $20.00K
YoY Change
% of Gross Profit 15.87%
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit 0.0%
Operating Expenses $221.5K $0.00 $0.00
YoY Change
Operating Profit -$87.20K $0.00
YoY Change
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$95.45K $0.00 -$20.00K
YoY Change 377.25%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$130.9K $0.00 -$15.88K
YoY Change 724.18%
Net Earnings / Revenue -49.36%
Basic Earnings Per Share
Diluted Earnings Per Share -$928.6K $0.00 -$76.92K
COMMON SHARES
Basic Shares Outstanding 70.98M shares 3.880M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.0K $0.00 $0.00
YoY Change
Cash & Equivalents $320.0K $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $0.00 $10.00K
YoY Change
Inventory $590.0K $0.00
Prepaid Expenses
Receivables $20.00K $0.00
Other Receivables $0.00
Total Short-Term Assets $930.0K $863.2K $10.00K
YoY Change 9200.0%
LONG-TERM ASSETS
Property, Plant & Equipment $470.0K $0.00
YoY Change
Goodwill
YoY Change
Intangibles $928.8K $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $190.0K
YoY Change
Total Long-Term Assets $1.594M $800.0K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $930.0K $863.2K $10.00K
Total Long-Term Assets $1.594M $800.0K $0.00
Total Assets $2.524M $1.663M $10.00K
YoY Change 25138.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $70.00K $70.00K $0.00
YoY Change
Accrued Expenses $99.97K $67.36K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $10.00K $10.00K
YoY Change -100.0%
Long-Term Debt Due $80.00K
YoY Change
Total Short-Term Liabilities $180.0K $10.00K $10.00K
YoY Change 1700.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $180.0K $10.00K $10.00K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $184.4K $67.46K $10.00K
YoY Change 1744.06%
SHAREHOLDERS EQUITY
Retained Earnings -$37.46M -$35.96M
YoY Change
Common Stock $70.98K $69.96K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.339M $1.596M $0.00
YoY Change
Total Liabilities & Shareholders Equity $2.524M $1.663M $10.00K
YoY Change 25138.4%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$130.9K $0.00 -$15.88K
YoY Change 724.18%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$80.00K $0.00 -$30.00K
YoY Change 166.67%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$30.00K -$800.0K
YoY Change
Cash From Investing Activities -$40.00K -$800.0K
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 90.00K 0.000 10.00K
YoY Change 800.0%
NET CHANGE
Cash From Operating Activities -80.00K 0.000 -30.00K
Cash From Investing Activities -40.00K -800.0K
Cash From Financing Activities 90.00K 0.000 10.00K
Net Change In Cash -30.00K -800.0K -20.00K
YoY Change 50.0%
FREE CASH FLOW
Cash From Operating Activities -$80.00K $0.00 -$30.00K
Capital Expenditures $0.00
Free Cash Flow -$80.00K
YoY Change

Facts In Submission

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CY2012Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
23999760 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14400 USD
CY2012Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5333280 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4800 USD
CY2012 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2000047 shares
CY2012 bmix Number Of Warrants Issued
NumberOfWarrantsIssued
200000 pure
CY2013Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
5000 shares
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
2750 USD
us-gaap Income Loss From Subsidiaries Tax Expense Benefit
IncomeLossFromSubsidiariesTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9359 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
59433 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Marketable Securities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
452696 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
442778 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
163918 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
29429 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
1089396 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-7460 USD
us-gaap Income Loss From Subsidiaries Tax Expense Benefit
IncomeLossFromSubsidiariesTaxExpenseBenefit
9359 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-6052 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-26520 USD
CY2013Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1670000 USD
bmix Operating Loss Carryforwards Expiration Period
OperatingLossCarryforwardsExpirationPeriod
2032
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.34 pure
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.34 pure
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
506580 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
7460 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-506580 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2013Q3 us-gaap Deferred Tax Assets Gross Current
DeferredTaxAssetsGrossCurrent
567000 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross Current
DeferredTaxAssetsGrossCurrent
1602 USD
CY2013Q3 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
567000 USD
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
1602 USD
CY2013Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
0 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
0 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00
us-gaap Reclassifications
Reclassifications
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="clear:both;FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman,serif; MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">NOTE 14 &#150; RECLASSIFICATIONS</font></b></div> <div style="clear:both;FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman,serif; MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">&#160;</font></b></div> <div style="clear:both;FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman,serif; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">During the period, the Company retroactively reclassified expenses paid by its parent company. These had been previously recorded as management fee to parent company and have now been allocated to the applicable income statement category. There was no change to the net income of the Company for the prior periods.</font></div> </div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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