2023 Q1 Form 10-K Financial Statement

#000164033423000532 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $3.376K $3.980K $17.18K
YoY Change -38.98% 3.38% -13.15%
Cost Of Revenue $1.396K $2.950K $10.05K
YoY Change -61.11% 8.86% 3.92%
Gross Profit $1.980K $1.030K $7.126K
YoY Change 1.9% -9.65% -29.48%
Gross Profit Margin 58.65% 25.88% 41.49%
Selling, General & Admin $20.29K $27.65K $366.9K
YoY Change -85.81% -79.84% -28.4%
% of Gross Profit 1024.75% 2684.47% 5148.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $670.00 $690.00 $62.15K
YoY Change -97.98% -98.35% -53.55%
% of Gross Profit 33.84% 66.99% 872.16%
Operating Expenses $20.96K $28.34K $429.0K
YoY Change -88.11% -84.16% -33.61%
Operating Profit -$18.98K -$27.31K -$421.9K
YoY Change -89.11% -84.63% -33.67%
Interest Expense $51.06K -$980.00 $289.1K
YoY Change 69.65% -97.32% 6.14%
% of Operating Profit
Other Income/Expense, Net -$268.2K -$473.7K
YoY Change 39.06% -214.45%
Pretax Income -$287.2K -$28.28K -$895.6K
YoY Change -21.77% -86.8% -14.7%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$287.2K -$28.28K -$895.6K
YoY Change -21.78% -86.8% -14.7%
Net Earnings / Revenue -8506.72% -710.55% -5214.08%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 355.6M shares 160.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.980K $25.45K $25.45K
YoY Change -89.31% -69.39% -69.39%
Cash & Equivalents $5.944K $25.41K
Short-Term Investments $30.00 $40.00 $40.00
Other Short-Term Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Inventory $4.743K $8.877K $8.880K
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $10.72K $34.32K $34.32K
YoY Change -82.29% -61.38% -61.39%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.320K $2.990K $2.990K
YoY Change -91.26% -94.99% -94.99%
TOTAL ASSETS
Total Short-Term Assets $10.72K $34.32K $34.32K
Total Long-Term Assets $2.320K $2.990K $2.990K
Total Assets $13.04K $37.31K $37.31K
YoY Change -85.02% -74.89% -74.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.644K $6.939K $409.9K
YoY Change -99.49% 296.51% 65.46%
Accrued Expenses $1.019K $1.015K
YoY Change -98.61% -90.77%
Deferred Revenue
YoY Change
Short-Term Debt $357.6K $392.0K $392.0K
YoY Change -16.34% -10.25% -10.25%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.644M $1.489M $1.489M
YoY Change 10.67% 19.91% 19.91%
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 $1.644M $1.489M $1.489M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.644M $1.489M $1.489M
YoY Change 10.67% 19.91% 19.91%
SHAREHOLDERS EQUITY
Retained Earnings -$7.839M -$7.552M
YoY Change 8.17% 13.45%
Common Stock $38.49K $25.26K
YoY Change 396.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.631M -$1.452M -$1.452M
YoY Change
Total Liabilities & Shareholders Equity $13.04K $37.31K $37.31K
YoY Change -85.02% -74.89% -74.89%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$287.2K -$28.28K -$895.6K
YoY Change -21.78% -86.8% -14.7%
Depreciation, Depletion And Amortization $670.00 $690.00 $62.15K
YoY Change -97.98% -98.35% -53.55%
Cash From Operating Activities -$19.46K -$27.50K -$227.3K
YoY Change -68.18% -22.32% 43.24%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $271.6K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 35.00K $169.7K
YoY Change -100.0% -32.69% -28.38%
NET CHANGE
Cash From Operating Activities -$19.46K -27.50K -$227.3K
Cash From Investing Activities
Cash From Financing Activities $0.00 35.00K $169.7K
Net Change In Cash -$19.46K 7.500K -$57.53K
YoY Change -28.31% -54.82% -173.43%
FREE CASH FLOW
Cash From Operating Activities -$19.46K -$27.50K -$227.3K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated financial statements in conformity with US GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company, and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
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CY2022 bdpt Issuance Series A Preferred Stock For Settlement Of Debt Related Party
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CY2022 bdpt Debts Forgiveness Related Party
DebtsForgivenessRelatedParty
10000 usd
CY2021 bdpt Debts Forgiveness Related Party
DebtsForgivenessRelatedParty
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CY2022 bdpt Warrant Issued For Patents Acquisition
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CY2021 bdpt Warrant Issued For Patents Acquisition
WarrantIssuedForPatentsAcquisition
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CY2022 bdpt Cancellation Of Common Stock
CancellationOfCommonStock
0 usd
CY2021 bdpt Cancellation Of Common Stock
CancellationOfCommonStock
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022 us-gaap Revenue Recognition Leases
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">identify the contract with a customer;</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">identify the performance obligations in the contract;</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">determine the transaction price;</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">allocate the transaction price to performance obligations in the contract; and</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">recognize revenue as the performance obligation is satisfied.</td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="text-decoration:underline">Cost of revenue</span></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Cost of revenue includes the inventory purchased from a related party.</p>
CY2022Q4 us-gaap Marketable Securities Current
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CY2022Q4 us-gaap Derivative Liabilities Current
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CY2021Q4 us-gaap Marketable Securities Current
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CY2021Q4 us-gaap Derivative Liabilities Current
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CY2022Q4 us-gaap Marketable Securities Current
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CY2021Q4 us-gaap Marketable Securities Current
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CY2022Q4 us-gaap Accrued Salaries Current
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CY2022Q4 us-gaap Accrued Liabilities Current
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CY2022Q4 bdpt Total Convertible Notes Payable
TotalConvertibleNotesPayable
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CY2021Q4 bdpt Total Convertible Notes Payable
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
7647 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
13333 usd
CY2022Q4 us-gaap Convertible Notes Payable
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CY2021Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
403117 usd
CY2022Q4 us-gaap Convertible Notes Payable Current
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CY2021Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
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CY2022Q4 us-gaap Convertible Long Term Notes Payable
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CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
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CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
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ConvertibleNotesAccruedInterest
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CY2021Q4 bdpt Convertible Notes Accrued Interest
ConvertibleNotesAccruedInterest
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CY2022 bdpt Amortization Of Debt Discount
AmortizationOfDebtDiscount
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CY2021 bdpt Amortization Of Debt Discount
AmortizationOfDebtDiscount
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CY2022 us-gaap Debt Instrument Convertible If Converted Value In Excess Of Principal
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CY2022 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
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CY2022 bdpt Convertible Shares Of Common Stock
ConvertibleSharesOfCommonStock
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 bdpt Convertible Shares Of Common Stock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2022 bdpt Value Assigned Of Derivatives Liabilities
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CY2022 bdpt Debt Discount
DebtDiscount
217000 usd
CY2022 bdpt Derivative Loss On Derivative1
DerivativeLossOnDerivative1
59414 usd
CY2021 bdpt Value Assigned Of Derivatives Liabilities
ValueAssignedOfDerivativesLiabilities
358697 usd
CY2021 bdpt Debt Discount
DebtDiscount
205000 usd
CY2021 bdpt Derivative Loss On Derivative1
DerivativeLossOnDerivative1
153697 usd
CY2022 bdpt Expected Dividend Yield
ExpectedDividendYield
0 pure
CY2021 bdpt Expected Dividend Yield
ExpectedDividendYield
0 pure
CY2021 bdpt Beginning Balance
BeginningBalance
827119 usd
CY2021 bdpt Addition Of New Derivatives Recognized As Debt Discounts
AdditionOfNewDerivativesRecognizedAsDebtDiscounts
205000 usd
CY2021 bdpt Addition Of New Derivatives Recognized As Loss On Derivatives
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153697 usd
CY2021 bdpt Settled On Issuance Of Common Stock
SettledOnIssuanceOfCommonStock
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CY2021 bdpt Gain Loss On Change In Fair Value Of The Derivative Liabilities
GainLossOnChangeInFairValueOfTheDerivativeLiabilities
-63478 usd
CY2022 bdpt Beginning Balance
BeginningBalance
557042 usd
CY2022 bdpt Addition Of New Derivatives Recognized As Debt Discounts
AdditionOfNewDerivativesRecognizedAsDebtDiscounts
217000 usd
CY2022 bdpt Addition Of New Derivatives Recognized As Loss On Derivatives
AdditionOfNewDerivativesRecognizedAsLossOnDerivatives
59414 usd
CY2022 bdpt Settled On Issuance Of Common Stock
SettledOnIssuanceOfCommonStock
-271587 usd
CY2022 bdpt Gain Loss On Change In Fair Value Of The Derivative Liabilities
GainLossOnChangeInFairValueOfTheDerivativeLiabilities
124987 usd
CY2022 bdpt Ending Balance
EndingBalance
686856 usd
CY2022 bdpt Loss On Derivative Instruments Related Convertible Notes
LossOnDerivativeInstrumentsRelatedConvertibleNotes
59414 usd
CY2021 bdpt Loss On Derivative Instruments Related Convertible Notes
LossOnDerivativeInstrumentsRelatedConvertibleNotes
153697 usd
CY2022 bdpt Gain Loss On Change In Fair Value Of The Derivative Liabilities
GainLossOnChangeInFairValueOfTheDerivativeLiabilities
124987 usd
CY2021 bdpt Gain Loss On Change In Fair Value Of The Derivative Liabilities
GainLossOnChangeInFairValueOfTheDerivativeLiabilities
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CY2022 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
184401 usd
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
90219 usd
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 bdpt Preferred Stock Par Or Stated Value Per Share1
PreferredStockParOrStatedValuePerShare1
0.001
CY2022Q4 bdpt Common Stock Capital Shares Reserved For Future Issuance1
CommonStockCapitalSharesReservedForFutureIssuance1
10000 shares
CY2022 us-gaap Conversion Of Stock Shares Issued1
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201734985 shares
CY2022 us-gaap Debt Conversion Original Debt Amount1
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521679 usd
CY2021 us-gaap Conversion Of Stock Shares Issued1
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28580228 shares
CY2021 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
856627 usd
CY2021 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
1000000 shares
CY2021 us-gaap Stock Issued During Period Value Issued For Services
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163900 usd
CY2021 bdpt Common Stock Cancelled Shares
CommonStockCancelledShares
352390 shares
CY2022Q1 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
0.006
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
5429 usd
CY2022 bdpt Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm
P2Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
2.35 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0131 pure
CY2021Q4 bdpt Related Party Debt Settlement
RelatedPartyDebtSettlement
75000 usd
CY2021Q4 bdpt Settlement Amount
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24000 usd
CY2021 bdpt Loss On Settlement Of Debt
LossOnSettlementOfDebt
-51000 usd
CY2022 us-gaap Repayments Of Short Term Debt
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25272 usd
CY2021 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
20000 usd
CY2022 us-gaap Interest Paid
InterestPaid
533 usd
CY2021 us-gaap Interest Paid
InterestPaid
1803 usd
CY2022Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
8444 usd
CY2021Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
33716 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1047 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
5241 usd
CY2022 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.04 pure
CY2022 bdpt Increase Decrease In Accrued Salaries Payable
IncreaseDecreaseInAccruedSalariesPayable
133334 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
300000 usd
CY2021 bdpt Increase Decrease In Accrued Salaries Payable
IncreaseDecreaseInAccruedSalariesPayable
213333 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
166666 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
99116 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
155988 usd
CY2022Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
99116 usd
CY2021Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
155988 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
525212 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
426096 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
525212 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
426096 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022 us-gaap Gain Loss On Sale Of Leased Assets Net Operating Leases
GainLossOnSaleOfLeasedAssetsNetOperatingLeases
2501000 usd
CY2022 bdpt Articles Of In Corporation Description
ArticlesOfInCorporationDescription
On March 7, 2023, the Company amended its articles of incorporation to increase its authorized common shares from 750,000,000 to 1,250,000,000; this increase will be effective March 27, 2022

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