2023 Q4 Form 10-Q Financial Statement
#000149315223041252 Filed on November 14, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
Revenue | $1.000K | $3.000K | |
YoY Change | |||
Cost Of Revenue | $400.00 | $1.200K | |
YoY Change | |||
Gross Profit | $600.00 | $1.800K | |
YoY Change | |||
Gross Profit Margin | 60.0% | 60.0% | |
Selling, General & Admin | $437.6K | $413.5K | $136.4K |
YoY Change | 238.34% | 203.15% | -12.67% |
% of Gross Profit | 72930.0% | 22971.67% | |
Research & Development | $61.96K | $17.64K | |
YoY Change | |||
% of Gross Profit | 10326.67% | 980.0% | |
Depreciation & Amortization | $32.36K | $28.75K | $8.117K |
YoY Change | 399.07% | 254.21% | -22.84% |
% of Gross Profit | 5393.33% | 1597.28% | |
Operating Expenses | $469.0K | $425.4K | $140.9K |
YoY Change | 254.77% | 201.86% | -9.78% |
Operating Profit | -$468.4K | -$423.6K | -$140.9K |
YoY Change | 254.32% | 200.58% | -5.28% |
Interest Expense | $24.00 | $1.167K | |
YoY Change | -97.94% | -371.4% | |
% of Operating Profit | |||
Other Income/Expense, Net | $2.163K | $8.340K | -$1.167K |
YoY Change | -335.11% | -814.65% | 168.89% |
Pretax Income | -$466.2K | -$415.2K | -$142.1K |
YoY Change | 250.24% | 192.24% | -6.73% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$466.2K | -$415.2K | -$142.1K |
YoY Change | 250.24% | 192.24% | -6.73% |
Net Earnings / Revenue | -46619.1% | -13841.2% | |
Basic Earnings Per Share | -$0.04 | -$0.03 | -$0.01 |
Diluted Earnings Per Share | -$0.04 | -$0.03 | -$13.82K |
COMMON SHARES | |||
Basic Shares Outstanding | 12.03M shares | 12.03M shares | 10.28M shares |
Diluted Shares Outstanding | 12.04M shares | 12.03M shares | 10.28M shares |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $138.7K | $596.4K | $19.89K |
YoY Change | 9.35% | 2898.54% | -92.66% |
Cash & Equivalents | $138.6K | $596.4K | $19.89K |
Short-Term Investments | |||
Other Short-Term Assets | $6.760K | $6.760K | $294.2K |
YoY Change | -97.7% | -97.7% | 83.95% |
Inventory | $72.90K | $73.30K | |
Prepaid Expenses | $6.759K | $294.2K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $218.3K | $676.5K | $314.1K |
YoY Change | -48.14% | 115.37% | -27.08% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $301.4K | $314.1K | $60.26K |
YoY Change | 460.51% | 421.21% | -57.9% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $4.390K | $4.390K | |
YoY Change | |||
Total Long-Term Assets | $950.7K | $947.3K | $118.0K |
YoY Change | 789.41% | 702.99% | -17.57% |
TOTAL ASSETS | |||
Total Short-Term Assets | $218.3K | $676.5K | $314.1K |
Total Long-Term Assets | $950.7K | $947.3K | $118.0K |
Total Assets | $1.169M | $1.624M | $432.1K |
YoY Change | 121.45% | 275.81% | -24.71% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $630.9K | $636.4K | $62.58K |
YoY Change | 961.36% | 916.91% | 174.71% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $654.1K | $662.1K | $430.6K |
YoY Change | 41.14% | 53.76% | 98.03% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $46.26K | $56.82K | $33.81K |
YoY Change | 54.72% | 68.06% | |
Total Long-Term Liabilities | $46.26K | $56.82K | $33.81K |
YoY Change | 54.72% | 68.06% | -32.62% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $654.1K | $662.1K | $430.6K |
Total Long-Term Liabilities | $46.26K | $56.82K | $33.81K |
Total Liabilities | $700.4K | $719.0K | $464.4K |
YoY Change | 41.96% | 54.8% | 73.54% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$3.463M | -$2.997M | -$1.686M |
YoY Change | 90.34% | 77.72% | |
Common Stock | $12.04K | $12.03K | $10.28K |
YoY Change | 16.51% | 17.07% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $468.6K | $904.8K | -$32.39K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.169M | $1.624M | $432.1K |
YoY Change | 121.45% | 275.81% | -24.71% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$466.2K | -$415.2K | -$142.1K |
YoY Change | 250.24% | 192.24% | -6.73% |
Depreciation, Depletion And Amortization | $32.36K | $28.75K | $8.117K |
YoY Change | 399.07% | 254.21% | -22.84% |
Cash From Operating Activities | -$393.0K | -$282.0K | -$101.7K |
YoY Change | 322.09% | 177.37% | -12.3% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $42.49K | $362.0K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$52.31K | ||
YoY Change | |||
Cash From Investing Activities | -$94.80K | -$362.0K | |
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 | 30.00K | 0.000 | 0.000 |
YoY Change | -85.0% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -393.0K | -282.0K | -101.7K |
Cash From Investing Activities | -94.80K | -362.0K | |
Cash From Financing Activities | 30.00K | 0.000 | 0.000 |
Net Change In Cash | -457.8K | -644.0K | -101.7K |
YoY Change | -528.22% | 533.41% | -1780.5% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$393.0K | -$282.0K | -$101.7K |
Capital Expenditures | $42.49K | $362.0K | |
Free Cash Flow | -$435.5K | -$644.0K | |
YoY Change | 367.73% |
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-415236 | usd |
CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-142086 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-738165 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-546430 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-415236 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-142086 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-738165 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-546430 | usd | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.03 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.03 | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | ||
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12033704 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10278861 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10278861 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11714684 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11714684 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10253916 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10253916 | shares | |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1320013 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-415236 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
904777 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
462942 | usd |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1180000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-738165 | usd | |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
904777 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
109697 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-142086 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-32389 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
91541 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
91541 | usd |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
172500 | usd | |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
250000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-546430 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-32389 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-32389 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-738165 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-546430 | usd | |
us-gaap |
Depreciation
Depreciation
|
46777 | usd | |
us-gaap |
Depreciation
Depreciation
|
19501 | usd | |
us-gaap |
Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
|
-2034 | usd | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
2667 | usd | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
7523 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
250000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1200 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-289 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
23700 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
46655 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
7265 | usd | |
BCRD |
Increase Decrease In Compensation Payable
IncreaseDecreaseInCompensationPayable
|
90750 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
108046 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-555161 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-190807 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
383001 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
313549 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-696550 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1180000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
172500 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
3126 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1180000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
169374 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-71711 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-21433 | 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 |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
596407 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
19885 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
41 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
2591 | usd | |
BCRD |
Sale Of Vehicle
SaleOfVehicle
|
50246 | usd | |
BCRD |
Repayment Of Loan Payable
RepaymentOfLoanPayable
|
50246 | usd | |
BCRD |
Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
|
132957 | usd | |
BCRD |
Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
|
50190 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_800_eus-gaap--NatureOfOperations_zRdt8AiGL4w6" 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_824_ztysrfSxIfsc">NATURE OF OPERATIONS, GOING CONCERN AND BASIS OF PRESENTATION</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"><b><span style="text-decoration: underline">General</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. (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; 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">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">These condensed 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_906_eus-gaap--NetIncomeLoss_iN_di_c20230401__20230930_zsrfE8RZ48r8" title="Net income loss">738,165</span>, and used net cash flows in operating activities of $<span id="xdx_909_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20230401__20230930_zggmQR7P5fWf" title="Net cash provided by (used in) operating activities">555,161</span> during the six months ended September 30, 2023, and has an accumulated deficit of $<span id="xdx_90F_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20230930_zKOn1jdIgoU9" title="Accumulated deficit">2,996,777</span> as of September 30, 2023. These factors, among others, raise a substantial doubt regarding the Company’s ability to continue as a going concern operation for a period of 12 months from the issuance date of these condensed 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 condensed 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: 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">Basis of Presentation</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 interim unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and include the accounts of the Company. The preparation of interim condensed financial statements requires management to make assumptions and estimates that impact the amounts reported. The interim condensed financial statements and accompanying notes are the representations of the Company’s management, who is responsible for their integrity and objectivity. These interim condensed financial statements, reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s results of operations, financial position and cash flows for the interim periods ended September 30, 2023 and 2022; however, certain information and footnote disclosures normally included in our audited annual financial statements, as included in the Company’s interim condensed financial statements, have been condensed or omitted pursuant to such SEC rules and regulations and accounting principles applicable for interim periods. These unaudited condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023, filed with the SEC on July 14, 2023. It is important to note that the Company’s results of operations and cash flows for interim periods are not necessarily indicative of the results of operations and cash flows to be expected for a full fiscal year or any other interim period.</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"></p> <p style="font: 10pt 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"></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"><b>BLUEONE CARD, INC.</b></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"><b>NOTES TO CONDENSED FINANCIAL STATEMENTS</b></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"><b>September 30, 2023</b></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"><b>(Unaudited)</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> | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-738165 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-555161 | usd | |
CY2023Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2996777 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_840_eus-gaap--UseOfEstimates_zLmigtPgH475" 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_865_zM8p0XcVJhAa">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 US 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, valuation of internal-use software development costs, valuation of lease liabilities and right-of-use assets, valuation of stock-based compensation and valuation of 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"> </span></p> | ||
CY2023Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zuc6H3FCEGUe" 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_86F_z9QkHXvWKXRl">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"> </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 September 30, 2023, the Company had balances in a financial institution which exceeded federally insured limits by approximately $<span id="xdx_901_eus-gaap--CashFDICInsuredAmount_iI_c20230930_zHLKOzpIOYZ" title="Cash, FDIC insured amount">346,400</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"><b>Significant Vendor and 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">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"><b> </b></span></p> | ||
CY2023Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
346400 | usd |
CY2023Q3 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
26385 | usd |
CY2023Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
26385 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P5Y | |
us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd | |
us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd | |
CY2023Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3000 | usd |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3000 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
415236 | usd |
CY2022Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
142086 | usd |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.03 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.03 | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12033704 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12033704 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10278861 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10278861 | shares |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-738165 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-546430 | usd | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.05 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.05 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11714684 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11714684 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10253916 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10253916 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
292000000 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
292000000 | shares | |
CY2023Q3 | us-gaap |
Other Inventory
OtherInventory
|
99685 | usd |
CY2023Q1 | us-gaap |
Other Inventory
OtherInventory
|
100885 | usd |
CY2023Q3 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
26385 | usd |
CY2023Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
26385 | usd |
CY2023Q3 | us-gaap |
Inventory Net
InventoryNet
|
73300 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
74500 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
439568 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
126019 | usd |
CY2023Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
125509 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
78732 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
314059 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
47287 | usd |
CY2023Q3 | us-gaap |
Depreciation
Depreciation
|
28751 | usd |
us-gaap |
Depreciation
Depreciation
|
46777 | usd | |
CY2022Q3 | us-gaap |
Depreciation
Depreciation
|
8117 | usd |
us-gaap |
Depreciation
Depreciation
|
19501 | usd | |
CY2023Q1 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
145892 | usd |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
383001 | usd | |
CY2023Q3 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
528893 | usd |
CY2023Q1 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
145892 | usd |
CY2023Q3 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
528893 | usd |
CY2023Q1 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
145892 | usd |
CY2023Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
99935 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
38681 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
56823 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
95504 | usd |
us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2025-07-11 | ||
CY2023Q3 | us-gaap |
Payments For Rent
PaymentsForRent
|
35768 | usd |
us-gaap |
Payments For Rent
PaymentsForRent
|
73558 | usd | |
CY2022Q3 | us-gaap |
Payments For Rent
PaymentsForRent
|
26400 | usd |
us-gaap |
Payments For Rent
PaymentsForRent
|
46737 | usd | |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q3 | 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 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2023Q3 | 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 | |
CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12033704 | shares |
CY2023Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
12033704 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10336004 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10336004 | shares |
CY2023Q3 | us-gaap |
Debt Instrument Convertible Liquidation Preference Per Share
DebtInstrumentConvertibleLiquidationPreferencePerShare
|
0.001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
292000 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
292000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
292000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
292000 | shares |