2022 Q4 Form 10-K Financial Statement

#000164033423001322 Filed on July 18, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021
Revenue $34.97K $113.8K $95.44K
YoY Change 83.09% 19.24% 243.59%
Cost Of Revenue $9.170K $33.83K $96.25K
YoY Change -69.01% -64.85% 248.06%
Gross Profit $25.80K $79.97K -$809.00
YoY Change -345.95% -9985.04% -752.42%
Gross Profit Margin 73.78% 70.27% -0.85%
Selling, General & Admin $64.97K $269.2K $411.7K
YoY Change -66.71% -34.6% 76.64%
% of Gross Profit 251.82% 336.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $64.98K $269.2K $411.7K
YoY Change -66.7% -34.6% 76.64%
Operating Profit -$39.18K -$189.2K -$412.5K
YoY Change -80.95% -54.12% 77.08%
Interest Expense $743.9K $1.967M $626.7K
YoY Change -90.91% 213.86% 130.33%
% of Operating Profit
Other Income/Expense, Net $1.967M -$3.111M
YoY Change -163.22% 43.16%
Pretax Income $704.7K $1.778M -$3.524M
YoY Change -91.16% -150.45% 46.45%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $704.7K $1.778M -$3.524M
YoY Change -91.16% -150.45% 46.45%
Net Earnings / Revenue 2015.1% 1562.14% -3692.06%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00 -$1.184K
COMMON SHARES
Basic Shares Outstanding 3.535B shares 3.575B shares
Diluted Shares Outstanding 9.240B shares 8.883B shares

Balance Sheet

Concept 2022 Q4 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.01K $10.01K $34.48K
YoY Change -70.97% -70.97% 732.85%
Cash & Equivalents $10.01K $10.01K $34.48K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $7.500K
YoY Change -100.0% -100.0%
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $10.01K $10.01K $41.98K
YoY Change -76.16% -76.16% 914.01%
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 $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $10.01K $10.01K $41.98K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $10.01K $10.01K $41.98K
YoY Change -76.16% -76.16% 914.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $579.8K $579.8K $465.2K
YoY Change 24.64% 24.64% 19.68%
Accrued Expenses $442.9K $442.9K $231.8K
YoY Change 91.03% 91.03% -19.34%
Deferred Revenue
YoY Change
Short-Term Debt $924.7K $924.7K $799.8K
YoY Change 15.62% 15.62% 50.44%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.915M $4.915M $6.841M
YoY Change -28.16% -28.16% 16.28%
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 $4.915M $4.915M $6.841M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.915M $4.915M $6.841M
YoY Change -28.16% -28.16% 16.28%
SHAREHOLDERS EQUITY
Retained Earnings -$9.943M
YoY Change -15.17%
Common Stock $3.712M
YoY Change 4.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.905M -$4.905M -$6.799M
YoY Change
Total Liabilities & Shareholders Equity $10.01K $10.01K $41.98K
YoY Change -76.16% -76.16% 914.01%

Cashflow Statement

Concept 2022 Q4 2022 2021
OPERATING ACTIVITIES
Net Income $704.7K $1.778M -$3.524M
YoY Change -91.16% -150.45% 46.45%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$21.09K -$87.99K -$265.7K
YoY Change -77.83% -66.88% 236.64%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 18.52K 63.52K $296.0K
YoY Change -70.83% -78.54% 652.22%
NET CHANGE
Cash From Operating Activities -21.09K -87.99K -$265.7K
Cash From Investing Activities 0.000 0.000 $0.00
Cash From Financing Activities 18.52K 63.52K $296.0K
Net Change In Cash -2.570K -24.47K $30.34K
YoY Change -91.88% -180.66% -176.68%
FREE CASH FLOW
Cash From Operating Activities -$21.09K -$87.99K -$265.7K
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 financial statements in conformity with 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 at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company continually evaluates its estimates and judgments. The Company bases its estimates and judgments on historical experience and other factors that it believes to be reasonable under the circumstances. Materially different results can occur as circumstances change and additional information becomes known, even for estimates and judgments that are not deemed critical.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company follows FASB ASC 850, “<em>Related Party Disclosures</em>,” for the identification of related parties and disclosure of related party transaction. (See Note 9)</p>
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