2022 Q4 Form 10-Q Financial Statement

#000149315222030094 Filed on November 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $3.301K $2.980K
YoY Change -100.0% 10.77% -72.12%
Cost Of Revenue $0.00 $27.53K $27.38K
YoY Change -100.0% 0.56% 1.75%
Gross Profit $0.00 -$24.23K -$24.40K
YoY Change -100.0% -0.68% 50.43%
Gross Profit Margin -734.11% -818.79%
Selling, General & Admin $2.110M $1.080M $707.3K
YoY Change 192.92% 52.68% 133.13%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $1.086K $4.520K
YoY Change 8.7% -75.97% 5.85%
% of Gross Profit
Operating Expenses $2.380M $1.248M $707.3K
YoY Change 230.39% 76.39% 133.13%
Operating Profit -$2.380M -$1.272M -$731.7K
YoY Change 167.25% 73.82% 128.93%
Interest Expense $0.00 $0.00 -$88.86K
YoY Change -100.0% -100.0% 67.09%
% of Operating Profit
Other Income/Expense, Net -$160.0K -$1.917K $0.00
YoY Change -100.0%
Pretax Income -$2.540M -$1.270M -$820.6K
YoY Change 175.08% 54.77% 120.23%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.200M -$1.028M -$619.1K
YoY Change 260.35% 66.07% 128.3%
Net Earnings / Revenue -31147.89% -20776.51%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.47 -$0.23 -$210.10
COMMON SHARES
Basic Shares Outstanding 371.3M shares 3.499B shares 2.947B shares
Diluted Shares Outstanding 4.580M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.0K $420.0K $18.13K
YoY Change 1129.15% 2216.6% -93.62%
Cash & Equivalents $280.5K $418.3K $18.13K
Short-Term Investments
Other Short-Term Assets $50.00K $30.00K $17.89K
YoY Change 189.86% 67.69% 1783.16%
Inventory $11.16K
Prepaid Expenses
Receivables $91.00 $247.00 $380.00
Other Receivables $20.00K $20.00K $16.93K
Total Short-Term Assets $345.4K $461.6K $64.49K
YoY Change 496.26% 615.71% -80.47%
LONG-TERM ASSETS
Property, Plant & Equipment $217.6K $117.5K $64.32K
YoY Change 304.17% 82.73% -34.69%
Goodwill
YoY Change
Intangibles $4.971M $4.829M
YoY Change 281.69%
Long-Term Investments $150.0K $150.0K $150.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets
YoY Change
Total Long-Term Assets $5.339M $5.097M $1.551M
YoY Change 254.44% 228.72% 148.46%
TOTAL ASSETS
Total Short-Term Assets $345.4K $461.6K $64.49K
Total Long-Term Assets $5.339M $5.097M $1.551M
Total Assets $5.684M $5.558M $1.615M
YoY Change 263.4% 244.17% 69.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $410.0K $440.0K $290.0K
YoY Change 32.26% 51.72% -57.35%
Accrued Expenses $0.00 $0.00 $3.010K
YoY Change -100.0% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $97.82K
YoY Change -89.27%
Total Short-Term Liabilities $2.798M $2.937M $1.079M
YoY Change 180.24% 172.24% -57.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $78.96K $25.21K $115.3K
YoY Change -27.51% -78.14% -19.71%
Total Long-Term Liabilities $78.96K $25.21K $115.3K
YoY Change -27.51% -78.14% -19.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.798M $2.937M $1.079M
Total Long-Term Liabilities $78.96K $25.21K $115.3K
Total Liabilities $2.877M $2.962M $2.719M
YoY Change 159.81% 8.96% -40.65%
SHAREHOLDERS EQUITY
Retained Earnings -$59.59M -$57.39M
YoY Change 8.42%
Common Stock $5.111K $3.655M
YoY Change -99.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.696M $1.193M -$1.104M
YoY Change
Total Liabilities & Shareholders Equity $5.684M $5.558M $1.615M
YoY Change 263.4% 244.17% 69.23%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$2.200M -$1.028M -$619.1K
YoY Change 260.35% 66.07% 128.3%
Depreciation, Depletion And Amortization $10.00K $1.086K $4.520K
YoY Change 8.7% -75.97% 5.85%
Cash From Operating Activities -$1.220M $1.070M -$1.103M
YoY Change 71.06% -197.02% 357.23%
INVESTING ACTIVITIES
Capital Expenditures $280.0K $2.320M $685.6K
YoY Change -1785.73% 238.38% 167121.95%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$280.0K -$2.320M $685.6K
YoY Change 1585.73% -438.38% 167121.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $150.0K
YoY Change 50.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.310M 1.280M 363.7K
YoY Change 137.15% 251.91% 59.27%
NET CHANGE
Cash From Operating Activities -1.220M 1.070M -1.103M
Cash From Investing Activities -280.0K -2.320M 685.6K
Cash From Financing Activities 1.310M 1.280M 363.7K
Net Change In Cash -190.0K 30.00K -53.54K
YoY Change 7.08% -156.03% 330.73%
FREE CASH FLOW
Cash From Operating Activities -$1.220M $1.070M -$1.103M
Capital Expenditures $280.0K $2.320M $685.6K
Free Cash Flow -$1.500M -$1.250M -$1.788M
YoY Change 115.33% -30.11% 640.21%

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Depreciation
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Depreciation
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Depreciation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
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us-gaap Payments For Rent
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us-gaap Loss Contingency Disclosures
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<p id="xdx_807_eus-gaap--LossContingencyDisclosures_zHHs1MRNuEr7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 7 – <span id="xdx_82F_zVMLiMtsiJ24">RISKS AND UNCERTAINTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 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-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i><span style="text-decoration: underline">Currency Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 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-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company operates primarily in Brazil which exposes it to currency risks. The Company’s business activities may generate intercompany receivables or payables that are in a currency other than the functional currency of the entity. Changes in exchange rates from the time the activity occurs to the time payments are made may result in the Company receiving either more or less in local currency than the local currency equivalent at the time of the original activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 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-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s condensed consolidated financial statements are denominated in U.S. dollars. Accordingly, changes in exchange rates between the applicable foreign currency and the U.S. dollar affect the translation of each foreign subsidiary’s financial results into U.S. dollars for purposes of reporting in the consolidated financial statements. The Company’s foreign subsidiaries translate their financial results from the local currency into U.S. dollars in the following manner: (a) income statement accounts are translated at average exchange rates for the period; (b) balance sheet asset and liability accounts are translated at end of period exchange rates; and (c) equity accounts are translated at historical exchange rates. Translation in this manner affects the shareholders’ equity account referred to as the foreign currency translation adjustment account. This account exists only in the foreign subsidiaries’ U.S. dollar balance sheets and is necessary to keep the foreign subsidiaries’ balance sheets in agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>

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