2023 Q1 Form 10-Q Financial Statement

#000174079723000012 Filed on February 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $0.00 $142.4K $39.28K
YoY Change -100.0% 262.47% -74.62%
Cost Of Revenue $0.00 $213.9K $331.3K
YoY Change -100.0% -35.42% -33.88%
Gross Profit $0.00 $71.54K -$292.0K
YoY Change -100.0% -124.5% -15.66%
Gross Profit Margin 50.24% -743.3%
Selling, General & Admin $121.1K $45.89K $196.7K
YoY Change 97.46% -76.67% 246.09%
% of Gross Profit 64.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.830K $3.820K -$3.310K
YoY Change -67.92% -215.41% -123.02%
% of Gross Profit 5.34%
Operating Expenses $124.9K $49.72K $210.7K
YoY Change 86.39% -76.4% 196.93%
Operating Profit -$124.9K $110.5K -$502.7K
YoY Change 809.98% -121.98% 20.5%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $10.78K $153.3K
YoY Change -100.0% -92.97% -1533400.0%
Pretax Income -$124.9K -$110.5K -$349.3K
YoY Change 1635.28% -68.38% -16.26%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$124.9K -$110.5K -$349.3K
YoY Change 1635.28% -68.38% -16.26%
Net Earnings / Revenue -77.59% -889.33%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$13.27K
COMMON SHARES
Basic Shares Outstanding 32.23M shares 32.23M shares 26.32M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $107.5K $18.81K $4.580K
YoY Change 222.83% 310.7% -84.48%
Cash & Equivalents $107.5K $18.81K $4.580K
Short-Term Investments
Other Short-Term Assets $100.00 $1.610K $76.90K
YoY Change -99.92% -97.91% 23.02%
Inventory
Prepaid Expenses $1.505K
Receivables $0.00 $64.44K $59.70K
Other Receivables $0.00 $62.32K $150.2K
Total Short-Term Assets $107.6K $147.2K $291.4K
YoY Change -67.49% -49.49% -24.19%
LONG-TERM ASSETS
Property, Plant & Equipment $1.500K $1.500K $500.00
YoY Change 0.0% 200.0% -98.1%
Goodwill
YoY Change
Intangibles $133.8K
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $133.9K $137.7K $135.7K
YoY Change 8.15% 1.46% -45.69%
TOTAL ASSETS
Total Short-Term Assets $107.6K $147.2K $291.4K
Total Long-Term Assets $133.9K $137.7K $135.7K
Total Assets $241.5K $284.9K $427.1K
YoY Change -46.89% -33.3% -32.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.30K $87.00K $16.57K
YoY Change 2130.66% 425.05% -96.27%
Accrued Expenses $192.6K $10.09K $161.4K
YoY Change 6739.49% -93.75% 546.73%
Deferred Revenue
YoY Change
Short-Term Debt $637.8K $506.8K $666.1K
YoY Change 6.33% -23.91% 51.63%
Long-Term Debt Due $99.00K
YoY Change
Total Short-Term Liabilities $874.7K $824.4K $844.0K
YoY Change 1.68% -2.33% -12.84%
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 $874.7K $824.4K $844.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $874.7K $824.4K $844.0K
YoY Change 1.68% -2.33% -12.84%
SHAREHOLDERS EQUITY
Retained Earnings $847.9K $719.8K
YoY Change 71.0%
Common Stock $38.50K $32.23K
YoY Change 46.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$633.3K -$539.5K -$416.9K
YoY Change
Total Liabilities & Shareholders Equity $241.5K $284.9K $427.1K
YoY Change -46.89% -33.3% -32.66%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$124.9K -$110.5K -$349.3K
YoY Change 1635.28% -68.38% -16.26%
Depreciation, Depletion And Amortization $3.830K $3.820K -$3.310K
YoY Change -67.92% -215.41% -123.02%
Cash From Operating Activities -$73.50K $32.59K -$395.3K
YoY Change -177.42% -108.24% -756.15%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $33.29K
YoY Change -100.0% -2828.69%
Cash From Investing Activities $0.00 $0.00 $33.29K
YoY Change -100.0% -2828.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 162.2K -17.66K 358.1K
YoY Change -344.79% -104.93% -875.3%
NET CHANGE
Cash From Operating Activities -73.50K 32.59K -395.3K
Cash From Investing Activities 0.000 0.000 33.29K
Cash From Financing Activities 162.2K -17.66K 358.1K
Net Change In Cash 88.65K 14.93K -3.930K
YoY Change 208.89% -479.9% -130.61%
FREE CASH FLOW
Cash From Operating Activities -$73.50K $32.59K -$395.3K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$73.50K $32.59K
YoY Change

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CY2021Q4 us-gaap Finite Lived Intangible Assets Translation And Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
-1584 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-349334 usd
CY2021Q4 us-gaap Shares Issued
SharesIssued
26281600 shares
CY2021Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
5000000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-416940 usd
CY2022Q1 us-gaap Shares Outstanding
SharesOutstanding
26316083 shares
CY2022Q1 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
5000000 shares
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-405561 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Translation And Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
-4694 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-29762 usd
CY2022Q2 us-gaap Shares Outstanding
SharesOutstanding
26316083 shares
CY2022Q2 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
5000000 shares
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-440017 usd
CY2022Q3 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
5,915,000
CY2022Q3 us-gaap Conversion Of Stock New Issuance
ConversionOfStockNewIssuance
91,500
CY2022Q3 us-gaap Finite Lived Intangible Assets Translation And Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
10955 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-83762 usd
CY2022Q3 us-gaap Shares Outstanding
SharesOutstanding
32231083 shares
CY2022Q3 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
5000000 shares
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-419825 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-9186 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-110471 usd
CY2022Q4 us-gaap Shares Outstanding
SharesOutstanding
32231083 shares
CY2022Q4 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
5000000 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-539482 usd
us-gaap Net Investment Income
NetInvestmentIncome
223995 usd
us-gaap Net Investment Income
NetInvestmentIncome
119322 usd
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
2965 usd
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
30207 usd
us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Period Increase Decrease
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease
19592 usd
us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Period Increase Decrease
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease
24586 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
85015 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-254349 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
60679 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3933 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-7275 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2367 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
1500 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-90000 usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1938 usd
us-gaap Loans And Leases Receivable Related Parties Period Increase Decrease
LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease
-105241 usd
us-gaap Loans And Leases Receivable Related Parties Period Increase Decrease
LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease
97002 usd
tren Retainersfrom
Retainersfrom
33602 usd
tren Retainersfrom
Retainersfrom
375199 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
124658 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
128454 usd
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
314 usd
us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
4 usd
us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
104 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19036 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
629953 usd
tren Development Chatbot
DevelopmentChatbot
4060 usd
tren Mobileapp
Mobileapp
29450 usd
tren Vehicles Acquisition
VehiclesAcquisition
33719 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
33510 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-33719 usd
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt Subsequent Adjustments
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebtSubsequentAdjustments
87124 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5915 usd
us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
61730 usd
us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
79516 usd
us-gaap Increase Decrease In Notes Payable Related Parties
IncreaseDecreaseInNotesPayableRelatedParties
154772 usd
us-gaap Increase Decrease In Notes Payable Related Parties
IncreaseDecreaseInNotesPayableRelatedParties
-460932 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-540448 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14477 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-55786 usd
CY2022Q1 us-gaap Cash
Cash
33289 usd
CY2021Q2 us-gaap Cash
Cash
60364 usd
CY2022Q4 us-gaap Cash
Cash
18812 usd
CY2021Q4 us-gaap Cash
Cash
4578 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_za7upldu8oE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86F_zkVMGuNowZxk">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18812 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1505 usd
CY2022Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
126162 usd
us-gaap Property Plant And Equipment Preproduction Design And Development Costs
PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts
<p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts_zR1ljivFum2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_864_zk7mceLcCiy3">Website Development Costs</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company amortizes these costs using the straight-line method over a period of one years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<p id="xdx_849_eus-gaap--RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure_z1PDNV4t9Ied" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_869_zfufXlOmUNH7">Revenue Recognition </span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has assessed the impact of the guidance by performing the following five steps analysis:</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 1: Identify the contract</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 2: Identify the performance obligations</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 3: Determine the transaction price</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 4: Allocate the transaction price</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 5: Recognize revenue</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue from supplies of consulting services is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the services are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there was no sales return for the period reported.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company derives its revenue from direct sales to individuals and business companies. Generally, the Company recognizes revenue when services are sold and accepted by the customers and there are no continuing obligations to the customer.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right">10 | Page<br/> </p>
us-gaap Net Income Loss
NetIncomeLoss
223995 usd
CY2022Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
1500 usd
us-gaap Long Term Debt Description
LongTermDebtDescription
our director has loaned to the Company $86,878
CY2022Q4 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
5000000 shares
CY2022Q4 us-gaap Shares Issued
SharesIssued
32231083 shares

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