2023 Q1 Form 10-K Financial Statement

#000149315223009846 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $6.765K
YoY Change -100.0% -33.87%
Cost Of Revenue $0.00 $63.55K
YoY Change -100.0% -74.15%
Gross Profit $0.00 -$56.78K
YoY Change -100.0% -75.9%
Gross Profit Margin -839.36%
Selling, General & Admin $3.450M $2.110M $4.980M
YoY Change 317.01% 192.92% 51.81%
% of Gross Profit
Research & Development $1.030M
YoY Change
% of Gross Profit
Depreciation & Amortization $4.015K $10.00K $13.81K
YoY Change -46.96% 8.7% -63.02%
% of Gross Profit
Operating Expenses $4.479M $2.380M $5.447M
YoY Change 441.44% 230.39% 66.04%
Operating Profit -$4.479M -$2.380M -$5.504M
YoY Change 435.37% 167.25% 56.53%
Interest Expense $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net -$14.02K -$160.0K -$155.8K
YoY Change -818.72% -70923.64%
Pretax Income -$4.465M -$2.540M -$5.660M
YoY Change 434.94% 175.08% 40.59%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.966M -$2.200M -$4.629M
YoY Change 646.19% 260.35% 66.95%
Net Earnings / Revenue -68418.63%
Basic Earnings Per Share -$0.60 -$1.00
Diluted Earnings Per Share -$0.60 -$0.47 -$1.00
COMMON SHARES
Basic Shares Outstanding 6.738M shares 371.3M shares 4.611M shares
Diluted Shares Outstanding 6.635M shares 4.611M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.990M $280.0K $280.0K
YoY Change 9101.55% 1129.15% 1129.15%
Cash & Equivalents $4.988M $280.5K $280.0K
Short-Term Investments
Other Short-Term Assets $50.00K $50.00K $50.00K
YoY Change 86.36% 189.86% 189.86%
Inventory
Prepaid Expenses
Receivables $94.00 $91.00 $0.00
Other Receivables $20.00K $20.00K $20.00K
Total Short-Term Assets $5.056M $345.4K $350.0K
YoY Change 4918.78% 496.26% 504.18%
LONG-TERM ASSETS
Property, Plant & Equipment $219.3K $217.6K $220.0K
YoY Change 185.84% 304.17% 308.69%
Goodwill
YoY Change
Intangibles $6.961M $4.971M
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 $7.331M $5.339M $5.330M
YoY Change 316.41% 254.44% 253.85%
TOTAL ASSETS
Total Short-Term Assets $5.056M $345.4K $350.0K
Total Long-Term Assets $7.331M $5.339M $5.330M
Total Assets $12.39M $5.684M $5.680M
YoY Change 565.52% 263.4% 263.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $630.0K $410.0K $410.0K
YoY Change 75.0% 32.26% 32.26%
Accrued Expenses $0.00 $0.00
YoY Change -100.0% -100.0%
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 $2.459M $2.798M $2.800M
YoY Change 166.22% 180.24% 180.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $76.29K $78.96K $80.00K
YoY Change -41.27% -27.51% -26.56%
Total Long-Term Liabilities $76.29K $78.96K $80.00K
YoY Change -41.27% -27.51% -26.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.459M $2.798M $2.800M
Total Long-Term Liabilities $76.29K $78.96K $80.00K
Total Liabilities $2.535M $2.877M $3.990M
YoY Change 3.54% 159.81% 50.08%
SHAREHOLDERS EQUITY
Retained Earnings -$63.55M -$59.59M
YoY Change 8.42%
Common Stock $6.739K $5.111K
YoY Change -99.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.240M $1.696M $1.700M
YoY Change
Total Liabilities & Shareholders Equity $12.39M $5.684M $5.680M
YoY Change 565.52% 263.4% 263.12%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$3.966M -$2.200M -$4.629M
YoY Change 646.19% 260.35% 66.95%
Depreciation, Depletion And Amortization $4.015K $10.00K $13.81K
YoY Change -46.96% 8.7% -63.02%
Cash From Operating Activities -$3.663M -$1.220M -$1.481M
YoY Change 623.9% 71.06% -22.67%
INVESTING ACTIVITIES
Capital Expenditures $1.280M $280.0K $2.850M
YoY Change -936.6% -1785.73% -1086.98%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.276M -$280.0K -$2.846M
YoY Change 733.97% 1585.73% 885.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $9.564M 1.310M $4.502M
YoY Change 1435.21% 137.15% 151.54%
NET CHANGE
Cash From Operating Activities -$3.663M -1.220M -$1.481M
Cash From Investing Activities -$1.276M -280.0K -$2.846M
Cash From Financing Activities $9.564M 1.310M $4.502M
Net Change In Cash $4.707M -190.0K $257.7K
YoY Change -13150.25% 7.08% -162.36%
FREE CASH FLOW
Cash From Operating Activities -$3.663M -$1.220M -$1.481M
Capital Expenditures $1.280M $280.0K $2.850M
Free Cash Flow -$4.943M -$1.500M -$4.331M
YoY Change 1300.13% 115.33% 166.37%

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CY2022 us-gaap Profit Loss
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CY2022 us-gaap Allocated Share Based Compensation Expense
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CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2021 us-gaap Amortization Of Debt Discount Premium
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
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CY2021 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
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CY2021 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
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CY2022 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
600000 usd
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Related Party Debt
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CY2022 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
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CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
125000 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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4502356 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
257749 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22776 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
253598 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
280525 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22776 usd
CY2021 ATLX Related Party Convertible Note Payable Exchanged For Stock
RelatedPartyConvertibleNotePayableExchangedForStock
566743 usd
CY2021 us-gaap Stock Issued1
StockIssued1
1362245 usd
CY2021 ATLX Common Stock Warrants Issued In Connection With Convertible Promissory Notes
CommonStockWarrantsIssuedInConnectionWithConvertiblePromissoryNotes
40019 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zSN9AtWJsYTl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results may differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt"><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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 brl
CY2022 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50%
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_844_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zvxRQ9avHxm1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Reclassifications</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or financial position.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
659282 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
441732 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
217550 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
456747 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
402920 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53827 usd
CY2022 us-gaap Depreciation
Depreciation
13806 usd
CY2021 us-gaap Depreciation
Depreciation
37328 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4971267 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1302440 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2022Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
408874 usd
CY2021Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
310047 usd
CY2022Q4 ATLX Mineral Rights Payable Current And Noncurrent
MineralRightsPayableCurrentAndNoncurrent
2367600 usd
CY2021Q4 ATLX Mineral Rights Payable Current And Noncurrent
MineralRightsPayableCurrentAndNoncurrent
672601 usd
CY2021Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
5590 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2776474 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
988237 usd
CY2020Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
872720 usd
CY2021 ATLX Issuances Of Convertible Notes Payable
IssuancesOfConvertibleNotesPayable
399000 usd
CY2021 ATLX Lender Adjustments For Penalties Or Defaults
LenderAdjustmentsForPenaltiesOrDefaults
37212 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
44019 usd
CY2021 ATLX Amortization Of Debt Discounts Associated With Convertible Debt
AmortizationOfDebtDiscountsAssociatedWithConvertibleDebt
44019 usd
CY2021 ATLX Conversion Of Convertible Note Principal Into Common Stock
ConversionOfConvertibleNotePrincipalIntoCommonStock
-1038932 usd
CY2021 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
270000 usd
CY2022 us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
As a result of the default, the interest rate on the note increased to 30% per annum. Interest was payable on September 30, 2014 and on the maturity date. In December 2020, the lender agreed to reduce the interest rate from the default rate of 30% to the stated rate of 10% retroactively
CY2022 us-gaap Other Income
OtherIncome
238151 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
78964 usd
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
108926 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
4000000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
we filed a Certificate of Amendment to our Articles of Incorporation (the “Amendment”) to effect a reverse stock split of our issued and outstanding shares of common stock at a ratio of 1-for-750 (the “Reverse Stock Split”)
CY2022Q4 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
750 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2021 ATLX Sharebased Compensation Arrangement By Sharebased Payment Award Options Expected Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExpectedTerm
P10Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
13.34
CY2022 us-gaap Payments For Rent
PaymentsForRent
5750 usd
CY2022 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_807_eus-gaap--LossContingencyDisclosures_zL1JYO3Cca5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 – <span id="xdx_826_zmbxYhvG7qq7">RISKS AND UNCERTAINTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Currency Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s 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: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>

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