2023 Form 10-K Financial Statement
#000149315223024569 Filed on July 14, 2023
Income Statement
Concept | 2023 | 2022 Q1 | 2022 |
---|---|---|---|
Revenue | $25.00K | $0.00 | $70.00K |
YoY Change | -64.29% | ||
Cost Of Revenue | $40.39K | $0.00 | $50.00K |
YoY Change | -19.22% | ||
Gross Profit | -$15.39K | $0.00 | $20.00K |
YoY Change | -176.95% | ||
Gross Profit Margin | -61.56% | 28.57% | |
Selling, General & Admin | $1.052M | $111.7K | $510.0K |
YoY Change | 106.31% | -2.18% | 96.15% |
% of Gross Profit | 2550.0% | ||
Research & Development | $2.240K | $7.035K | |
YoY Change | -68.16% | ||
% of Gross Profit | 35.18% | ||
Depreciation & Amortization | $32.47K | $10.81K | $40.00K |
YoY Change | -18.83% | -72.17% | 0.0% |
% of Gross Profit | 200.0% | ||
Operating Expenses | $1.052M | $111.7K | $520.0K |
YoY Change | 102.34% | 30.06% | 108.0% |
Operating Profit | -$1.068M | -$111.7K | -$500.0K |
YoY Change | 113.51% | 100.0% | |
Interest Expense | -$4.930K | -$580.00 | $0.00 |
YoY Change | -12.12% | ||
% of Operating Profit | |||
Other Income/Expense, Net | -$4.928K | $0.00 | $0.00 |
YoY Change | |||
Pretax Income | -$1.119M | -$134.8K | -$530.0K |
YoY Change | 111.09% | 29.92% | 89.29% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$1.119M | -$134.8K | -$530.0K |
YoY Change | 111.09% | 29.92% | 89.29% |
Net Earnings / Revenue | -4475.2% | -757.14% | |
Basic Earnings Per Share | -$0.11 | -$0.05 | |
Diluted Earnings Per Share | -$0.11 | -$13.52K | -$53.32K |
COMMON SHARES | |||
Basic Shares Outstanding | 10.29M shares | 9.935M shares | |
Diluted Shares Outstanding | 10.29M shares |
Balance Sheet
Concept | 2023 | 2022 Q1 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $668.1K | $41.32K | $40.00K |
YoY Change | 1570.3% | -87.86% | -88.24% |
Cash & Equivalents | $41.32K | ||
Short-Term Investments | |||
Other Short-Term Assets | $7.050K | $270.5K | $270.0K |
YoY Change | -97.39% | 74.44% | 68.75% |
Inventory | $74.50K | $77.90K | |
Prepaid Expenses | $270.5K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $749.7K | $311.8K | $310.0K |
YoY Change | 141.83% | -37.08% | -38.0% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $95.69K | $135.3K | $140.0K |
YoY Change | -31.65% | -17.59% | -12.5% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $241.6K | $135.3K | $140.0K |
YoY Change | 72.56% | -17.6% | -12.5% |
TOTAL ASSETS | |||
Total Short-Term Assets | $749.7K | $311.8K | $310.0K |
Total Long-Term Assets | $241.6K | $135.3K | $140.0K |
Total Assets | $991.3K | $447.1K | $450.0K |
YoY Change | 120.28% | -32.23% | -31.82% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $477.7K | $39.10K | $40.00K |
YoY Change | 1094.2% | 42.18% | 33.33% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | $12.70K | $10.00K |
YoY Change | -100.0% | 4.01% | 0.0% |
Total Short-Term Liabilities | $503.4K | $311.8K | $310.0K |
YoY Change | 62.4% | 94.98% | 93.75% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $43.76K | $40.00K |
YoY Change | -100.0% | -22.49% | -33.33% |
Other Long-Term Liabilities | $24.86K | ||
YoY Change | |||
Total Long-Term Liabilities | $24.86K | $43.76K | $40.00K |
YoY Change | -37.85% | -22.49% | -33.33% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $503.4K | $311.8K | $310.0K |
Total Long-Term Liabilities | $24.86K | $43.76K | $40.00K |
Total Liabilities | $528.3K | $355.6K | $360.0K |
YoY Change | 46.75% | 64.33% | 63.64% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.140M | ||
YoY Change | |||
Common Stock | $9.980K | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $462.9K | $91.54K | $90.00K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $991.3K | $447.1K | $450.0K |
YoY Change | 120.28% | -32.23% | -31.82% |
Cashflow Statement
Concept | 2023 | 2022 Q1 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.119M | -$134.8K | -$530.0K |
YoY Change | 111.09% | 29.92% | 89.29% |
Depreciation, Depletion And Amortization | $32.47K | $10.81K | $40.00K |
YoY Change | -18.83% | -72.17% | 0.0% |
Cash From Operating Activities | -$331.6K | -$163.2K | -$450.0K |
YoY Change | -26.32% | -47.4% | 45.16% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $28.70K | -$13.50K | -$10.00K |
YoY Change | -387.0% | -30.77% | -50.0% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$28.70K | -$13.50K | -$10.00K |
YoY Change | 187.0% | -30.77% | -50.0% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $372.5K | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 987.1K | 50.87K | 170.0K |
YoY Change | 480.63% | -92.41% | -74.63% |
NET CHANGE | |||
Cash From Operating Activities | -331.6K | -163.2K | -450.0K |
Cash From Investing Activities | -28.70K | -13.50K | -10.00K |
Cash From Financing Activities | 987.1K | 50.87K | 170.0K |
Net Change In Cash | 626.8K | -125.8K | -290.0K |
YoY Change | -316.14% | -136.95% | -185.29% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$331.6K | -$163.2K | -$450.0K |
Capital Expenditures | $28.70K | -$13.50K | -$10.00K |
Free Cash Flow | -$360.3K | -$149.7K | -$440.0K |
YoY Change | -18.12% | -48.51% | 51.72% |
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CY2023 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
14000 | usd |
CY2022 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
54778 | usd |
CY2023 | BCRD |
Cost Of Sales Inventory Reserve
CostOfSalesInventoryReserve
|
26385 | usd |
CY2023 | us-gaap |
Gross Profit
GrossProfit
|
-15385 | usd |
CY2022 | us-gaap |
Gross Profit
GrossProfit
|
17422 | usd |
CY2023 | us-gaap |
Legal Fees
LegalFees
|
44102 | usd |
CY2022 | us-gaap |
Legal Fees
LegalFees
|
32631 | usd |
CY2023 | BCRD |
Rent Expense
RentExpense
|
99598 | usd |
CY2022 | BCRD |
Rent Expense
RentExpense
|
73348 | usd |
CY2023 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
954786 | usd |
CY2022 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
439706 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
1098486 | usd |
CY2022 | us-gaap |
Operating Expenses
OperatingExpenses
|
545685 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1113871 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-528263 | usd |
CY2023 | us-gaap |
Interest Expense
InterestExpense
|
4928 | usd |
CY2022 | us-gaap |
Interest Expense
InterestExpense
|
2563 | usd |
CY2023 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-4928 | usd |
CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2563 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1118799 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-530827 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1118799 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-530827 | usd |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.11 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.05 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10293125 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9935412 | shares |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
91541 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
372500 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
500000 | usd |
CY2023 | BCRD |
Stock Subscriptions Received
StockSubscriptionsReceived
|
617700 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1118799 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
462942 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
443368 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
443368 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
179000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-530827 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
91541 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
91541 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1118799 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-530827 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
32470 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
42388 | usd |
CY2023 | us-gaap |
Inventory Lifo Reserve Effect On Income Net
InventoryLIFOReserveEffectOnIncomeNet
|
26385 | usd |
CY2023 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
6155 | usd |
CY2023 | us-gaap |
Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
|
-2196 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
500000 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
22985 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
28587 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-68366 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
86847 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
40445 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
11600 | usd |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-20000 | usd |
CY2023 | BCRD |
Increase Decrease In Compensation Payable
IncreaseDecreaseInCompensationPayable
|
173250 | usd |
CY2022 | BCRD |
Increase Decrease In Compensation Payable
IncreaseDecreaseInCompensationPayable
|
157500 | usd |
CY2023 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-6747 | usd |
CY2022 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-17699 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-331574 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-452472 | usd |
CY2023 | us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
28700 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
13500 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-28700 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-13500 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
372500 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
179000 | usd |
CY2023 | BCRD |
Proceed From Cash Received From Stock Subscriptions
ProceedFromCashReceivedFromStockSubscriptions
|
617700 | usd |
CY2023 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
3126 | usd |
CY2022 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
12212 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
987074 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
166788 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
626800 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-299184 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
41318 | usd |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
340502 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
668118 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
41318 | usd |
CY2023 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3510 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
2520 | usd |
CY2023 | BCRD |
Sale Of Vehicle
SaleOfVehicle
|
53494 | usd |
CY2023 | BCRD |
Present Value Of Initial Lease Liability And Rightofuse Asset
PresentValueOfInitialLeaseLiabilityAndRightofuseAsset
|
62113 | usd |
CY2023 | BCRD |
Reclassification Of Prepaid Assets To Software Development
ReclassificationOfPrepaidAssetsToSoftwareDevelopment
|
117192 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_800_eus-gaap--NatureOfOperations_zbQmzOm5ofJa" 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 1 – <span id="xdx_829_zoloNOrIUyfk">NATURE OF OPERATIONS AND GOING CONCERN</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">BlueOne Card, Inc. (“BlueOne” or the “Company”), was incorporated on July 6, 2007 under the laws of the state of Nevada. The Company provides innovative payout solutions and prepaid debit card and gift card solutions to consumers and corporations transforming card-to-card cross border real time global money transfers.</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"><b><span style="text-decoration: underline">Risk and Uncertainty Concerning COVID-19 Pandemic</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">The global COVID-19 pandemic continues to present uncertainty and unforeseeable risks to the Company’s operations and business plan. The Company has closely monitored recent developments, including the lifting of COVID-19 safety measures, the spread of new strains or variants of the coronavirus (such as the Delta and Omicron variants), and supply chain and labor shortages. Thus, the full impact of the COVID-19 pandemic on the business and operations remains uncertain and will vary depending on the pandemic’s future impact on the third parties with whom the Company does business, as well as any legal or regulatory consequences resulting therefrom. The Company has been following the recommendations of health authorities to minimize exposure risk for its team members and may take further actions that alter our operations, including any required by federal, state or local authorities, or that it determines are in the best interests of its employees and other third parties with whom the Company does business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </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"><b><span style="text-decoration: underline">Going Concern</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">The financial statements have been prepared on a going concern basis which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company has not yet generated any significant revenues and has suffered operating losses since July 6, 2007 (Inception Date) to date. The Company recorded a net loss of $<span id="xdx_90A_eus-gaap--NetIncomeLoss_iN_di_c20220401__20230331_z1VlvIyF1NV3" title="Net income loss">1,118,799</span>, and used net cash flows in operating activities of $<span id="xdx_907_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20220401__20230331_zhuBwvrvMz9e" title="Net cash provided by (used in) operating activities">331,574</span> during fiscal 2023, and has an accumulated deficit of $<span id="xdx_904_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20230331_z48Lq0SkpdKh" title="Accumulated deficit">2,258,612</span> as of March 31, 2023. These factors, among others, raise a substantial doubt regarding the Company’s ability to continue as a going concern operations for a period of 12 months from the issuance date of these financial statements. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary financing to continue operations, and the attainment of profitability. If the Company is unable to obtain adequate capital, it could be forced to cease operations. The accompanying financial statements do not include any adjustments to reflect the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1118799 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-331574 | usd |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2258612 | usd |
CY2022Q1 | BCRD |
Prepaid Deposits
PrepaidDeposits
|
77900 | usd |
CY2022Q1 | BCRD |
Compensation Payable
CompensationPayable
|
207500 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_z55gMysW6O68" 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><span style="text-decoration: underline"><span id="xdx_864_zqvWrdWhD1bi">Use of Estimates</span></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">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. The Company regularly evaluates estimates and assumptions related to the valuation of its assets, liabilities, equity and operations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about its estimates that are not readily apparent from other sources. Significant estimates in the accompanying financial statements include the valuation of inventory, software development costs, right-of-use assets, stock-based compensation and deferred tax assets. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</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"><b> </b></span></p> | |
CY2023Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2022Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
CY2022 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_846_eus-gaap--ConcentrationRiskCreditRisk_zhkphgX1R26d" 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><span style="text-decoration: underline"><span id="xdx_86B_zdN2M0wu5Koi">Concentrations</span></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"><b> </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"><b>Cash Concentration</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">Cash is maintained at one financial institution and at times, balances may exceed federally insured limits. We have not experienced any losses related to these balances. As of March 31, 2023, the Company had balances in a financial institution which exceeded federally insured limits by approximately $<span id="xdx_901_eus-gaap--CashFDICInsuredAmount_iI_c20230331_zUHQHsRVvoh2" title="Cash, FDIC insured amount">418,000</span>. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operation and cash flows.</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"></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"><b>Customer Concentration</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"><b> </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">For the year ended March 31, 2023, <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zDYh3fopAhFh" title="Customer concentration, percentage">100</span>% of revenue was derived from one sale to one customer. For the year ended March 31, 2022, <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20210401__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_zcquCGN7vvlj" title="Customer concentration, percentage">100</span>% of the revenues were derived from two sales to two customers.</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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Significant Vendor and Concentration</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company relies solely on one vendor for key components and processing services related to the manufacturing, distribution and servicing of its prepaid debit cards and gift cards. The same vendor is also the sole developer and provider of the software for Company’s operations.</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> | |
CY2023Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
418000 | usd |
CY2023Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
26385 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P5Y | |
CY2023 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2240 | usd |
CY2022 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7035 | usd |
CY2023 | us-gaap |
Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
|
more than 50 percent | |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1118799 | usd |
CY2022 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-530827 | usd |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.11 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.05 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10293125 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9935412 | shares |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
292000000 | shares |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
292000000 | shares |
CY2023 | BCRD |
Interest Payable On Credit Cards
InterestPayableOnCreditCards
|
4371 | usd |
CY2022 | BCRD |
Interest Payable On Credit Cards
InterestPayableOnCreditCards
|
43 | usd |
CY2023Q1 | us-gaap |
Other Inventory
OtherInventory
|
100885 | usd |
CY2022Q1 | us-gaap |
Other Inventory
OtherInventory
|
77900 | usd |
CY2023Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
26385 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
74500 | usd |
CY2022Q1 | us-gaap |
Inventory Net
InventoryNet
|
77900 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
126019 | usd |
CY2022Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
224010 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
78732 | usd |
CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
88725 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
47287 | usd |
CY2022Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
135285 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
32470 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
42388 | usd |
CY2023Q1 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
145892 | usd |
CY2022Q1 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
117193 | usd |
CY2023Q1 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
145892 | usd |
CY2023Q1 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
145892 | usd |
CY2023 | BCRD |
Increase Decrease In Compensation Payable
IncreaseDecreaseInCompensationPayable
|
173250 | usd |
CY2022 | BCRD |
Increase Decrease In Compensation Payable
IncreaseDecreaseInCompensationPayable
|
157500 | usd |
CY2022Q3 | us-gaap |
Other Liabilities
OtherLiabilities
|
53332 | usd |
CY2022Q1 | us-gaap |
Loans Payable
LoansPayable
|
56458 | usd |
CY2022Q1 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
12699 | usd |
CY2022Q1 | us-gaap |
Long Term Loans Payable
LongTermLoansPayable
|
43759 | usd |
CY2023 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
557 | usd |
CY2022 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2520 | usd |
CY2022Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
292000 | shares |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
48401 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
17384 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
24862 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
42246 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y3M | |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.12 | pure |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
|
21518 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
|
21518 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
|
5379 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
48415 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
6169 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
42246 | usd |
CY2023 | us-gaap |
Payments For Rent
PaymentsForRent
|
99598 | usd |
CY2022 | us-gaap |
Payments For Rent
PaymentsForRent
|
73348 | usd |
CY2022Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2022Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10336004 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10336004 | shares |
CY2022Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
9979575 | shares |
CY2022Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
9979575 | shares |
CY2023Q1 | us-gaap |
Debt Instrument Convertible Liquidation Preference Per Share
DebtInstrumentConvertibleLiquidationPreferencePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
292000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
292000 | shares |
CY2022Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
292000 | shares |
CY2023 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
250000 | shares |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.2100 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.2100 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0698 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.2798 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.2100 | pure |
CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
229953 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
187613 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
229953 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
187613 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
229953 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
187613 | usd |
CY2023Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1741000 | usd |
CY2022Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1130000 | usd |
CY2023 | BCRD |
Cumulative Deferred Tax Assets Valuation Allowance Percentage
CumulativeDeferredTaxAssetsValuationAllowancePercentage
|
1 | pure |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
42340 | usd |