2024 Q2 Form 10-Q Financial Statement

#000157587224001005 Filed on September 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $5.690K $1.850K
YoY Change 207.57% -85.87%
Cost Of Revenue $5.319K $930.00
YoY Change 471.94% -90.94%
Gross Profit $370.00 $920.00
YoY Change -59.78% -67.38%
Gross Profit Margin 6.5% 49.73%
Selling, General & Admin $225.4K $705.0K
YoY Change -68.03% -6.87%
% of Gross Profit 60922.7% 76631.52%
Research & Development $0.00 $0.00
YoY Change
% of Gross Profit 0.0% 0.0%
Depreciation & Amortization $1.342K $190.00
YoY Change 606.32% 0.0%
% of Gross Profit 362.7% 20.65%
Operating Expenses $226.0K $705.0K
YoY Change -67.95% -6.87%
Operating Profit -$225.6K -$704.1K
YoY Change -67.96% -6.64%
Interest Expense -$43.54K -$43.80K
YoY Change -0.59% 20.43%
% of Operating Profit
Other Income/Expense, Net -$43.54K -$43.80K
YoY Change -0.59% 5.71%
Pretax Income -$269.1K -$747.9K
YoY Change -64.01% -45.53%
Income Tax
% Of Pretax Income
Net Earnings -$269.1K -$747.9K
YoY Change -64.01% -45.53%
Net Earnings / Revenue -4730.07% -40426.49%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 404.2M
Diluted Shares Outstanding 486.0M 404.1M

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.030K $17.78K
YoY Change -88.58% 558.52%
Cash & Equivalents $2.026K $17.78K
Short-Term Investments
Other Short-Term Assets $17.38K $10.93K
YoY Change 59.01% -86.0%
Inventory $54.99K $420.00
Prepaid Expenses $17.38K $10.93K
Receivables $8.565K $2.010K
Other Receivables $0.00 $19.86K
Total Short-Term Assets $82.96K $50.99K
YoY Change 62.69% 424.05%
LONG-TERM ASSETS
Property, Plant & Equipment $3.918K $215.4K
YoY Change -98.18% 35204.92%
Goodwill $583.5K
YoY Change -0.02%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $134.7K $798.8K
YoY Change -83.14% 130857.38%
TOTAL ASSETS
Total Short-Term Assets $82.96K $50.99K
Total Long-Term Assets $134.7K $798.8K
Total Assets $217.6K $849.8K
YoY Change -74.39% 8118.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $923.7K $564.8K
YoY Change 63.55% 249.02%
Accrued Expenses $67.76K $72.91K
YoY Change -7.06% 349.51%
Deferred Revenue
YoY Change
Short-Term Debt $1.252M $1.055M
YoY Change 18.59% 69.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.417M $2.173M
YoY Change 11.22% 222.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $62.98K $141.1K
YoY Change -55.36%
Total Long-Term Liabilities $62.98K $141.1K
YoY Change -55.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.417M $2.173M
Total Long-Term Liabilities $62.98K $141.1K
Total Liabilities $2.480M $2.314M
YoY Change 7.16% 243.1%
SHAREHOLDERS EQUITY
Retained Earnings -$8.799M -$6.823M
YoY Change 28.95% 93.61%
Common Stock $50.78K $40.41K
YoY Change 25.66% 6.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.262M -$1.464M
YoY Change
Total Liabilities & Shareholders Equity $217.6K $849.8K
YoY Change -74.39% 8118.86%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$269.1K -$747.9K
YoY Change -64.01% -45.53%
Depreciation, Depletion And Amortization $1.342K $190.00
YoY Change 606.32% 0.0%
Cash From Operating Activities -$155.6K -$136.5K
YoY Change 14.01% -66.27%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 155.9K 140.5K
YoY Change 10.99% -64.67%
NET CHANGE
Cash From Operating Activities -155.6K -136.5K
Cash From Investing Activities 0.000
Cash From Financing Activities 155.9K 140.5K
Net Change In Cash 310.0 4.000K
YoY Change -92.25% -156.9%
FREE CASH FLOW
Cash From Operating Activities -$155.6K -$136.5K
Capital Expenditures $0.00
Free Cash Flow -$136.5K
YoY Change -66.46%

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<div style="margin: 0px 0px 0px 0in; text-align: justify; line-height: 12pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-size: 10pt; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;display:inline;">Reclassification of Prior Year Presentation</div></div></div></div></div><div style="margin: 0px 0px 0px 0in; text-align: justify; line-height: 12pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; white-space: pre-wrap; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;white-space:pre-wrap;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></div><div style="margin: 0px 0px 0px 0in; text-align: justify; line-height: 12pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;display:inline;">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. An adjustment has been made to Consolidated Statements of Cash Flows for three months period ended May 31, 2024, to reclassification of accounts payable to note payable related party of $131,158. This change in reclassification does not affect previously reported cash flows from operating activities in Consolidated Statements of Cash Flows.</div></div></div></div>
CY2024Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">On an ongoing basis, the Company evaluates its estimates, including those related to the bad debt allowance, sales returns, stock-based compensation, beneficial conversion features, useful lives of property and equipment, income taxes, and contingent liabilities, among others. The Company bases its estimates on assumptions, both historical and forward looking, that are believed to be reasonable, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities.</div></div>
CY2024Q2 us-gaap Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
2026
CY2024Q1 us-gaap Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
1716
CY2024Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Concentration of Credit Risks</div></div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">Financial instruments that potentially subject the Company to significant concentration of credit risk primarily consist of cash, cash equivalents, and accounts receivable. As of May 31, 2024 and February 28, 2024, the Company’s cash was held by financial institutions that management believes have acceptable credit. Accounts receivables are typically unsecured. The risk with respect to accounts receivable is mitigated by regular credit evaluations that the Company performs on its distribution partners and its ongoing monitoring of outstanding balances.</div></div>
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
8565
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2634
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2024Q2 us-gaap Inventory Net
InventoryNet
54988
CY2024Q1 us-gaap Inventory Net
InventoryNet
55416
CY2024Q1 bfyw Inventory Obsolescence
InventoryObsolescence
0
CY2024Q2 bfyw Inventory Obsolescence
InventoryObsolescence
0
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0
CY2024Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2024Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2024 bfyw Valuation Allowance On Deferred Tax Assets
ValuationAllowanceOnDeferredTaxAssets
1
CY2024Q2 bfyw Valuation Allowance On Deferred Tax Assets
ValuationAllowanceOnDeferredTaxAssets
1
CY2024Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
21024
CY2023Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
480
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0
CY2024Q2 bfyw Disclosure In Entirety Of Convertible Note
DisclosureInEntiretyOfConvertibleNote
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Note 4 - Convertible Notes Payable</div></div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> <div> <table style="text-align:start; border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;margin-right : auto;"> <tr> <td style="border-style: none; border-left-width: initial; border-left-color: initial; border-right-width: initial; border-right-color: initial; padding: 0px; vertical-align: top; width: 8pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> </td> <td style="border-style: none; border-left-width: initial; border-left-color: initial; border-right-width: initial; border-right-color: initial; padding: 0px; vertical-align: top; width: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">(A)</div></div> </td> <td style="border-style: none; border-left-width: initial; border-left-color: initial; border-right-width: initial; border-right-color: initial; padding: 0px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">On April 12, 2022, the Company entered into a Securities Purchase Agreement with Mast Hill Fund, L.P., in which Mast Hill purchased a promissory note, with a principal amount of $310,000 for a purchase price of $279,000 (the "Note"). The Note bears an original issue discount of $31,000, and interest of 12% per year and had an original maturity date of April 12, 2023 (the "Maturity Date").</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">On June 7, 2022, the Company entered into a second Securities Purchase Agreement with Mast Hill Fund, L.P., Pursuant to the June 7, 2022 Security Purchase Agreement, Mast Hill purchased a promissory note, with a principal amount of $310,000 for a purchase price of $279,000 (the “Note”). The Note bears an original issue discount of $31,000, each bear interest of 12% per year and had an original maturity date of June 7, 2023 (the “Maturity Date”).</div></div> </td> </tr> </table> </div> <div> <table style="text-align:start; border: none; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; border-spacing: 0px;margin-right : auto;"> <tr> <td style="padding: 0px; vertical-align: top; width: 8pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> </td> <td style="padding: 0px; vertical-align: top; width: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> </td> <td style="padding: 0px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">On September 18, 2023, the Company entered into an amendment of both promissory. The outstanding principal balance of the notes increased by $40,891 and $40,023, respectively. The interest rate on both notes has been increased to 18% as a result of the amendment, and the maturity date has been extended to September 13, 2024. Because the fair value of consideration issued was greater than 10% of the present value of the remaining cash flows under the modified notes, the transaction was treated as a debt extinguishment and reissuance of new debt instruments pursuant to the guidance of ASC 470-50. A loss on debt extinguishment was recorded of $80,914 on the consolidated statement of operations in 10K filled on September 10, 2024. There was no change in fair value of the debt instruments subsequent to the amendment date, since the extinguishment transaction occurred on September 18, 2023.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The above notes are convertible into shares of the Company's common stock at conversion price of $0.037 per share, subject to adjustment as provided therein. The Company has the right to prepay the Note in full, including accrued but unpaid interest, without prepayment penalty provided an event of default, as defined therein, has not occurred. In the seven (7) trading days prior to any prepayment Mast Hill shall have the right to convert their Note into Common Stock of the Company in accordance with the terms of such Note. The Note contains events of defaults and certain negative covenants that are typical in the types of transactions contemplated by the Purchase Agreements.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">Pursuant to the Purchase Agreements, the Company issued to Mast Hill 4,960,000 shares of the Company’s common stock (the “Commitment Shares”) as a condition to closing. Further, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with Mast Hill, pursuant to which the Company is obligated to file a registration statement. On October 11, 2022, Mast Hill Fund agreed to extend the timeframes in section 2(a) of the Registration Rights Agreement dated April 12, 2022 until February 9, 2023, and to have the Registration Statement become effective on or before February 9, 2037.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The total interest expense on both the Mast Hill Fund promissory notes were $31,802, and $18,600 for the three months period ended May 31, 2024 and 2023 respectively.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The total interest expense payable on both the Mast Hill Fund promissory notes were $196,726 and $164,924 as of May 31, 2024 and February 28, 2024 respectively.</div></div> </td> </tr> </table> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div> <table style="text-align:start; border: none; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; border-spacing: 0px;margin-right : auto;"> <tr> <td style="padding: 0px; vertical-align: top; width: 8pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> </td> <td style="padding: 0px; vertical-align: top; width: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">(B)</div></div> </td> <td style="padding: 0px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; text-indent: -0.02in; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">On January 17, 2024, the Company entered into a convertible promissory note with 1800 Diagonal Lending, LLC with the principal amount of $65,000 of which $60,000 was received in cash and $5,000 was recorded as transaction fees. The note bears the interest rate of 12% per annum and matures at November 30, 2024. The note includes a conversion discount of 35 % and the conversion price shall be determined on the basis of the average of three lowest trading price of Common stock during the ten trading days period and is limited to convert no more than 4.99% of the issued and outstanding Common Stock at time of conversion at any one time. On July 19, 2024, the Default Notice demanded the immediate payment of $189,162, together with principal outstanding, accrued interest and “Default Interest,” as provided for in the Note. This note is currently in default.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.02in; text-align: justify; text-indent: -0.02in; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The total interest expense on the 1800 Diagonal Lending promissory note was $1,966, and $0 for the three months period ended May 31, 2024 and 2023 respectively.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The Company accounted for the Diagonal Note under ASC 480 and recorded an aggregate debt premium of $35,000 with a charge to interest expense</div><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> over the tenure of the note.</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> The total debt premium amortized on the note was $9,770 and $0 for the three months period ended May 31, 2024 and 2023 respectively.</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"> </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The total interest expense payable on 1800 Diagonal Lending promissory note was $2,885 and $919 as of May 31, 2024 and February 28, 2024 respectively.</div><div style="white-space:pre-line; color: rgb(0, 0, 0); font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="white-space:pre-line; color: rgb(0, 0, 0); font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </td> </tr> </table> </div>
CY2024Q2 bfyw Gain Loss On Extinguishment Of Debt
GainLossOnExtinguishmentOfDebt
80914
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5260
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2323
CY2024Q2 bfyw Equipment Acquired Net Of Depreciation
EquipmentAcquiredNetOfDepreciation
0
CY2024Q1 bfyw Equipment Acquired Net Of Depreciation
EquipmentAcquiredNetOfDepreciation
4869
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1342
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1932
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3918
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5260
CY2024Q2 us-gaap Depreciation
Depreciation
1342
CY2023Q2 us-gaap Depreciation
Depreciation
194
CY2024Q2 bfyw Rental Payments
RentalPayments
6650
CY2023Q2 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
200215
CY2023Q2 bfyw Treasury Rate
TreasuryRate
0.12
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79800
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
66500
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
146300
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15558
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
130742
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
67758
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
62984
CY2024Q2 bfyw Schedule Of Additional Information Pertaining To Our Leases
ScheduleOfAdditionalInformationPertainingToOurLeases
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">The following table set forth additional information pertaining to our leases:</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"> </div> <table style="text-align:start; border: none; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; border-spacing: 0px;margin-right : auto;margin-right : auto;"> <tr> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0px 0px 0.5pt; vertical-align: bottom; width: 74%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt; text-align: left;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">For the three months ending May 31,</div></div></div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0in 0in 0.5pt; vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: 12pt; text-align: center;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </td> <td colspan="2" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0in; vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1pt solid windowtext; white-space: nowrap; width: 11%;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; margin-right: 0px; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"><div style="white-space: nowrap;font-weight:bold;display:inline;">2024</div></div></div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0in 0in 0.5pt; vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0in 0in 0.5pt; vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> <td colspan="2" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0in; vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1pt solid windowtext; white-space: nowrap; width: 11%;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt; text-align: center; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"><div style="white-space: nowrap;font-weight:bold;display:inline;">2023</div></div></div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; padding: 0in 0in 0.5pt; vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:white;"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: 12pt; text-align: center; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> </tr> <tr> <td style="background: rgb(204, 238, 255); padding: 0px; vertical-align: bottom; width: 74%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">Weighted average remaining lease term – operating leases</div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: left;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: 12pt; margin-left: 0in; text-indent: 0in; text-align: left; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 10%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: right; margin-right: 0in; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">1.8 years</div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: left;background-color:rgb(204, 238, 255);"> <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; margin-left: 0in; text-indent: 0in; text-align: left; white-space: nowrap; line-height: normal;"> </div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: right; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: left;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: left; line-height: 12pt; white-space: nowrap; margin-left: 0in; text-indent: 0in;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 10%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:rgb(204, 238, 255);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: right; margin-right: 0in; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">2.8 years</div></div> </td> <td style="background: rgb(204, 238, 255); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: left;background-color:rgb(204, 238, 255);"> <div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; margin-left: 0in; text-indent: 0in; text-align: left; white-space: nowrap; line-height: normal;"> </div> </td> </tr> <tr> <td style="background: rgba(255, 255, 255, 0); padding: 0px; vertical-align: bottom; width: 74%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;">Weighted average discount rate – operating leases</div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: 12pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: left;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: 12pt; margin-left: 0in; text-indent: 0in; text-align: left; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 10%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: right;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: right; margin-right: 0in; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">3.81</div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: left;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin: 0px 0px 0px 0in; text-align: left; line-height: 12pt; white-space: nowrap; text-indent: 0in;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">%</div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: right; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: left;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: left; line-height: 12pt; white-space: nowrap; margin-left: 0in; text-indent: 0in;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;"> </div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 10%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: right;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: right; margin-right: 0in; line-height: 12pt; white-space: nowrap;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">3.81</div></div> </td> <td style="background: rgba(255, 255, 255, 0); padding: 0in; vertical-align: bottom; width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; white-space: nowrap; text-align: left;background-color:rgba(255, 255, 255, 0);"> <div style="font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; margin: 0px 0px 0px 0in; text-align: left; line-height: 12pt; white-space: nowrap; text-indent: 0in;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, &quot;serif&quot;; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">%</div></div> </td> </tr> </table>
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On April 18, 2022, we entered into a Standby Equity Commitment Agreement with MacRab LLC, a Florida limited liability company providing us with an option to sell up to $5,000,000 worth of our Common Stock, par value $0.0001, to MacRab LLC, in increments, over the period ending 24 months after the date that the Company’s registration statement is deemed effective by the U.S. Securities and Exchange Commission, pursuant to the terms and conditions contained in the SECA. Additionally, we issued MacRab LLC a Common Stock purchase warrant for the purchase of 1,785,714 shares of our common stock as a commitment fee in connection with the execution of the Standby Equity Commitment Agreement. We also entered into a Registration Rights Agreement with the Investor requiring the Company to file a registration statement providing for the registration of the Common Stock issuable to MacRab LLC under the Standby Equity Commitment Agreement and their common stock purchase warrant, and the subsequent resale by MacRab LLC of such Common Stock.
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6,000,000 shares vest over the next year
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001575872-24-001005-index-headers.html Edgar Link pending
0001575872-24-001005-index.html Edgar Link pending
0001575872-24-001005.txt Edgar Link pending
0001575872-24-001005-xbrl.zip Edgar Link pending
bf065_ex31-1.htm Edgar Link pending
bf065_ex31-2.htm Edgar Link pending
bf065_ex32-1.htm Edgar Link pending
bfyw-20240531.htm Edgar Link pending
bfyw-20240531.xsd Edgar Link pending
bfyw-20240531_cal.xml Edgar Link unprocessable
bfyw-20240531_def.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
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R15.htm Edgar Link pending
bfyw-20240531_lab.xml Edgar Link unprocessable
bfyw-20240531_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
bfyw-20240531_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending