2021 Q4 Form 10-Q Financial Statement
#000106594921000229 Filed on November 15, 2021
Income Statement
Concept | 2021 Q4 | 2021 Q3 | 2020 Q4 |
---|---|---|---|
Revenue | $0.00 | ||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $25.21K | $28.97K | |
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $25.21K | $28.97K | |
YoY Change | 216.57% | ||
Operating Profit | -$28.97K | ||
YoY Change | 216.57% | ||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$25.21K | -$28.97K | |
YoY Change | 216.57% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$25.21K | -$28.97K | |
YoY Change | 216.57% | ||
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | ||
Diluted Earnings Per Share | -$4.31 | -$4.95 | |
COMMON SHARES | |||
Basic Shares Outstanding | 5.851B shares | 5.851B shares | |
Diluted Shares Outstanding | 5.851B shares |
Balance Sheet
Concept | 2021 Q4 | 2021 Q3 | 2020 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | |||
Short-Term Investments | |||
Other Short-Term Assets | $1.170K | $2.920K | |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $1.167K | $2.917K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $1.167K | $2.917K | |
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $1.167K | $2.917K | |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $1.167K | $2.917K | |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.100K | $3.150K | $9.470K |
YoY Change | -56.71% | ||
Accrued Expenses | $114.0K | $99.00K | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $35.64K | $28.13K | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $153.7K | $130.3K | $81.47K |
YoY Change | 88.71% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $153.7K | $130.3K | $81.47K |
Total Long-Term Liabilities | $0.00 | $0.00 | |
Total Liabilities | $153.7K | $130.3K | $81.47K |
YoY Change | 88.71% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$30.96M | -$30.93M | -$30.85M |
YoY Change | 0.36% | ||
Common Stock | $58.51K | $58.51K | $58.51K |
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$152.6K | -$127.4K | -$81.47K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.167K | $2.917K | |
YoY Change |
Cashflow Statement
Concept | 2021 Q4 | 2021 Q3 | 2020 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$25.21K | -$28.97K | |
YoY Change | 216.57% | ||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$7.510K | $10.16K | |
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 | 7.510K | -9.990K | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -7.510K | 10.16K | |
Cash From Investing Activities | |||
Cash From Financing Activities | 7.510K | -9.990K | |
Net Change In Cash | 0.000 | 170.0 | |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$7.510K | $10.16K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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dei |
Entity Registrant Name
EntityRegistrantName
|
Atlas Technology Group, Inc. | ||
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Amendment Flag
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PO Box 147165 | ||
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Lakewood | ||
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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">NOTE 1. NATURE OF OPERATIONS</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "><span style="font-weight:bold; ">Nature of Business</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">Atlas Technology Group, Inc., a Florida corporation, (“Atlas”, “the Company”, “We", "Us" or “Our’) is a publicly quoted shell company seeking to merge with an entity with experienced management and opportunities for growth in return for shares of our common stock to create values for our shareholders. No potential merger candidate has been identified at this time.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">Effective May 29, 2021, we entered into an agreement with Corporate Excellence Consulting Inc. (“CECI”), our then controlling shareholder, and Mr. David Cutler (“Mr. Cutler”) (“the Agreement”) under which:</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; text-indent:36pt; margin-bottom:0pt; ">- </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:-10pt; padding-left:54pt; margin-bottom:0pt; ">CECI surrendered, and we cancelled, the single outstanding share of Series A Preferred Stock. The single outstanding share of Series A Preferred Stock carried super preferred voting rights enabling the holder to vote the equivalent of <span style="-sec-ix-hidden:Fact_222">61%</span> of all voteable preferred and common shares issued and outstanding, </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; text-indent:36pt; margin-bottom:0pt; ">- </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:-10pt; padding-left:54pt; margin-bottom:0pt; ">We issued a new share of Series A Preferred Stock, carrying the same super preferred voting rights described above, to Mr. Cutler. As a consequence of this issuance, Mr. Cutler became our new controlling shareholder, </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; text-indent:36pt; margin-bottom:0pt; ">- </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:-10pt; text-indent:54pt; margin-bottom:0pt; ">Mr. Cutler was appointed as a director of ours and as our Chief Financial Officer, </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; text-indent:36pt; margin-bottom:0pt; ">- </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:-10pt; text-indent:54pt; margin-bottom:0pt; ">Mr. Cutler paid $5,000 to CECI on our behalf as a partial repayment of the outstanding fees due by us to CECI, </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; text-indent:36pt; margin-bottom:0pt; ">- </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:-10pt; padding-left:54pt; margin-bottom:0pt; ">Mr. Cutler undertook to pay a further $30,000 on our behalf as a full and final settlement of the outstanding fees due by us to CECI, such payment to be made on the approval by FINRA of a proposed name change and reverse stock split, </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; text-indent:36pt; margin-bottom:0pt; ">- </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:-10pt; padding-left:54pt; margin-bottom:0pt; ">CECI agreed to accept the $35,000 to be paid to them by Mr. Cutler on our behalf in full and final settlement of the outstanding fees due by us to CECI. </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; ">The initial payment of $5,000 to CECI was made by Mr. Cutler as agreed.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; ">There is no guarantee that it will be possible to complete the remaining terms of the Agreement.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:22pt; margin-bottom:0pt; "><span style="font-weight:bold; ">History</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">Atlas was incorporated in the state of Nevada in August 1996 under the name Pan World Corporation. In November 1999, the Company changed its name to Tribeworks, Inc. and redomiciled to the state of Delaware. In August 2007, the Company changed its name to Atlas Technology Group, Inc. In August 2015, the Company redomiciled to the State of Florida. In December 2015, the Company changed its name to Moxie Motion Pictures, Inc. In November 2018, the Company changed its name back to Atlas Technology Group, Inc.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">Since its Inception in August 1996, the Company has at various times been involved in the following business activities: software sales, provision of information technology application support services, distribution of energy efficient lighting products and movie production and talent management.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; ">By December 31, 2018, the Company had ceased all operations and had disposed of all its former operating subsidiaries.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "><span style="font-weight:bold; ">Impact of the COVID-19 Pandemic</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">We have not commenced operations as yet and consequently have not been directly impacted by the Covid-19 outbreak at this time. However, the detrimental effect of the Covid-19 outbreak on the economy as a whole may have a </p> <div> <div style="width:100%; clear:both;"> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; ">5</p> </div><hr style="border-top:1.5pt solid #000000;"/><div style="page-break-after:always;"/> <p style="font-size:10pt; text-align:right; font-style:italic; margin-top:auto; "><a href="#toc">Table of Contents</a></p> </div> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:0pt; ">detrimental impact on our ability to raise funding and identify an entity to merge with for the foreseeable future. We are unable to predict with any certainty the ultimate impact Covid-19 outbreak on our plans at this time. </p> | ||
CY2021Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5850705874 | shares |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-81470 | USD |
atyg |
Cancellation Of Preferred Stock
CancellationOfPreferredStock
|
0 | USD | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
39900 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-85796 | USD | |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-127366 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-85796 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-27450 | USD | |
atyg |
Compensation Paid In Preferred Stock
CompensationPaidInPreferredStock
|
39900 | USD | |
atyg |
Compensation Paid In Preferred Stock
CompensationPaidInPreferredStock
|
USD | ||
us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
4270 | USD | |
us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
USD | ||
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
2917 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2050 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
450 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
27000 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
27000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-28133 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
0 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
USD | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
USD | ||
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
28133 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
USD | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
28133 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
USD | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
0 | USD | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
0 | USD | |
CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
USD | |
CY2019Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
USD | |
CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
USD | |
CY2020Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
0 | USD |
us-gaap |
Interest Paid Net
InterestPaidNet
|
USD | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
USD | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
USD | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
USD | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-85796 | USD | |
CY2021Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-30933115 | USD |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:22pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">Use of Estimates</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">The preparation of 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p> | ||
CY2020Q4 | us-gaap |
Cash
Cash
|
0 | USD |
CY2021Q3 | us-gaap |
Cash
Cash
|
0 | USD |
us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | USD | |
us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | USD | |
CY2020Q3 | us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | USD |
CY2021Q3 | us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | USD |
CY2021Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
3150 | USD |
CY2020Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
9470 | USD |
CY2020Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5850705874 | shares |
CY2021Q3 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
99000 | USD |
CY2020Q4 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
72000 | USD |
CY2021Q3 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
28133 | USD |
CY2020Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
USD | |
CY2021Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2021Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
CY2021Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
15000000000 | shares |
CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
15000000000 | shares |
CY2021Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5850705874 | shares |
CY2020Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5850705874 | shares |