2023 Q2 Form 10-K Financial Statement

#000121390023031453 Filed on April 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.094M $313.1K
YoY Change 200.41% 129.4%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.094M $313.1K $1.135M
YoY Change 200.41% 129.4% 188.55%
Operating Profit -$1.094M -$1.135M
YoY Change 200.41% 188.55%
Interest Expense -$37.06K -$57.19K $595.1K
YoY Change -78.67% -103.03% -71.81%
% of Operating Profit
Other Income/Expense, Net -$37.06K -$351.8K
YoY Change -78.67%
Pretax Income -$1.131M -$338.3K -$1.487M
YoY Change 110.27% -119.53% -184.36%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.131M -$338.3K -$1.487M
YoY Change 110.27% -119.53% -184.36%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 3.319B shares 385.6M shares 335.8M shares
Diluted Shares Outstanding 3.327B shares 335.8M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $209.2K $42.58K $42.58K
YoY Change 1583.98% 413.63% 413.63%
Cash & Equivalents $209.2K $42.58K
Short-Term Investments
Other Short-Term Assets $121.2K $62.72K $62.72K
YoY Change -6.44% 3463.64% 3463.64%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $330.3K $105.3K $105.3K
YoY Change 132.75% 947.33% 947.76%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $206.0K $100.0K $100.0K
YoY Change 106.0% 0.0% 0.0%
Total Long-Term Assets $206.0K $100.0K $100.0K
YoY Change 106.0% 0.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $330.3K $105.3K $105.3K
Total Long-Term Assets $206.0K $100.0K $100.0K
Total Assets $536.3K $205.3K $205.3K
YoY Change 121.69% 86.54% 86.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $312.9K $438.7K $438.7K
YoY Change -2.41% 44.66% 44.66%
Accrued Expenses $343.3K $482.9K $673.8K
YoY Change -21.48% 38.67% -72.53%
Deferred Revenue
YoY Change
Short-Term Debt $375.0K $357.0K $357.0K
YoY Change
Long-Term Debt Due $1.925M $357.0K $36.25K
YoY Change -70.96% -93.23% -99.31%
Total Short-Term Liabilities $2.794M $1.506M $1.506M
YoY Change -69.52% -81.24% -81.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.794M $1.506M $1.506M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.794M $1.506M $1.506M
YoY Change -71.31% -83.55% -83.55%
SHAREHOLDERS EQUITY
Retained Earnings -$19.37M -$17.85M
YoY Change 13.9% 9.08%
Common Stock $3.357M $3.246M
YoY Change 770.62% 866.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.258M -$1.300M -$1.300M
YoY Change
Total Liabilities & Shareholders Equity $536.3K $205.3K $205.3K
YoY Change 121.69% 86.54% 86.55%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.131M -$338.3K -$1.487M
YoY Change 110.27% -119.53% -184.36%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.174M -$910.7K -$910.7K
YoY Change 307.97% 456.6% 132.06%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$106.0K $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$106.0K $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 450.0K 945.0K $945.0K
YoY Change 55.17% 254.93% 98.05%
NET CHANGE
Cash From Operating Activities -1.174M -910.7K -$910.7K
Cash From Investing Activities -106.0K 0.000
Cash From Financing Activities 450.0K 945.0K $945.0K
Net Change In Cash -829.8K 34.29K $34.29K
YoY Change -36495.61% 1203.8% -324.12%
FREE CASH FLOW
Cash From Operating Activities -$1.174M -$910.7K -$910.7K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 - Nature of the Business</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify">BoxScore Brands, Inc. (the “Company”) is a US based renewable energy company focused on the extraction, refinement and distribution of technical minerals in an environmentally responsible manner.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company formerly developed, marketed and distributed various self-serve electronic kiosks and mall/airport co-branded islands throughout North America. Due to the nationwide shutdown related to the COVID-19 pandemic, the Company spent a portion of 2020 restructuring and retiring certain corporate debt and obligations, while focusing on implementing a new operational direction.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the corporate reorganization and repositioning process, the Company found itself with the unique opportunity to expand its management team and acquire mining claims that historically reported high levels of Lithium and other tech minerals. The Company hired and affiliated itself with industry veterans that bring decades of experience, credibility and relationships.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 5, 2021, the Company acquired the rights to 102 Federal Mining Claims located in the Lisbon Valley of Utah for $100,000. The acquisition was driven by historical mineral data from seven (7) existing wells with brine aquifer access. The independent third-party Technical Report indicated that further investment and development in the claims were warranted.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has been moving forward with its strategy of employing advanced brine extractive technology methodologies and has been in talks with numerous extraction providers. Selective mineral extraction is clearly the most cost-effective and ESG friendly approach currently available. Technologies are being utilized that can extract the desired minerals and metals from the brine and then re-inject the brines back down into the aquafer. The prospective partners have been provided the analytical results from the technical reports, but will soon provide current results, analytical, Geotech modeling, aquifer modeling, recharge, flows, and depth.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will also look to expand its holdings in the Lisbon Valley area with the acquisition of additional mineral claims and joint venture opportunities.</span></p>
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CY2022 us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Use of Estimates</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and be based on events different from those assumptions. Future events and their effects cannot be predicted with certainty; estimating, therefore, requires the exercise of judgment. Thus, accounting estimates change as new events occur, as more experience is acquired, or as additional information is obtained.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2022 dei Auditor Location
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Utah
CY2022 dei Auditor Name
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Heaton & Company, PLLC
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BOXS
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NONE
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0001213900-23-031453-index-headers.html Edgar Link pending
0001213900-23-031453-index.html Edgar Link pending
0001213900-23-031453.txt Edgar Link pending
0001213900-23-031453-xbrl.zip Edgar Link pending
boxs-20221231.xsd Edgar Link pending
boxs-20221231_cal.xml Edgar Link unprocessable
f10k2022ex21-1_boxscore.htm Edgar Link pending
f10k2022ex31-1_boxscore.htm Edgar Link pending
f10k2022ex31-2_boxscore.htm Edgar Link pending
f10k2022ex32-1_boxscore.htm Edgar Link pending
f10k2022ex32-2_boxscore.htm Edgar Link pending
f10k2022ex4-1_boxscore.htm Edgar Link pending
f10k2022_boxscore.htm Edgar Link pending
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boxs-20221231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
boxs-20221231_def.xml Edgar Link unprocessable
f10k2022_boxscore_htm.xml Edgar Link completed
R8.htm Edgar Link pending
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