2023 Q3 Form 10-Q Financial Statement

#000168316823005813 Filed on August 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $3.690K $7.933K $14.26K
YoY Change -67.29% -44.36% -79.63%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit $3.690K $7.930K $10.00K
YoY Change -63.75% -20.7% -80.0%
Gross Profit Margin 100.0% 99.96% 70.14%
Selling, General & Admin $3.850K $8.490K $40.00K
YoY Change -64.65% -78.78% -50.0%
% of Gross Profit 104.34% 107.06% 400.0%
Research & Development $80.78K $80.78K
YoY Change
% of Gross Profit 2189.19% 1018.68%
Depreciation & Amortization $4.450K $1.490K $0.00
YoY Change 0.0%
% of Gross Profit 120.6% 18.79% 0.0%
Operating Expenses $5.335K $9.976K $47.52K
YoY Change -56.87% -79.01% -40.6%
Operating Profit -$1.645K -$2.043K -$33.26K
YoY Change -24.89% -93.86% 10.88%
Interest Expense $2.046K $2.085K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$2.046K -$2.085K $0.00
YoY Change -100.0%
Pretax Income -$3.691K -$4.128K -$33.26K
YoY Change 68.54% -87.59% 232.63%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.691K -$4.128K -$33.26K
YoY Change 68.54% -87.59% 232.63%
Net Earnings / Revenue -100.03% -52.04% -233.29%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 276.8M shares 276.8M shares 269.7M shares
Diluted Shares Outstanding 269.7M shares 269.7M shares 269.7M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.00 $0.00 $0.00
YoY Change -50.65%
Cash & Equivalents $758.00 $0.00 $2.123K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $758.00 $0.00 $0.00
YoY Change -50.78%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.00 $51.00K $0.00
YoY Change -99.05%
Other Assets
YoY Change
Total Long-Term Assets $33.22K $85.51K $40.00K
YoY Change -44.59% 113.77%
TOTAL ASSETS
Total Short-Term Assets $758.00 $0.00 $0.00
Total Long-Term Assets $33.22K $85.51K $40.00K
Total Assets $33.98K $85.51K $40.00K
YoY Change -44.75% 113.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.14K $24.98K $20.00K
YoY Change 50.49% 24.9%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $200.0K $4.189K $40.00K
YoY Change 392.61% -89.53%
Total Short-Term Liabilities $240.5K $41.76K $60.00K
YoY Change 296.72% -30.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $195.8K $200.0K
YoY Change -100.0% -2.09%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $195.8K $200.0K
YoY Change -100.0% -2.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $240.5K $41.76K $60.00K
Total Long-Term Liabilities $0.00 $195.8K $200.0K
Total Liabilities $240.5K $237.6K $260.0K
YoY Change -6.59% -8.63%
SHAREHOLDERS EQUITY
Retained Earnings -$3.494M -$3.440M
YoY Change
Common Stock $276.8K $276.8K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$206.6K -$152.1K -$214.2K
YoY Change
Total Liabilities & Shareholders Equity $33.98K $85.51K $40.00K
YoY Change -44.75% 113.77%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$3.691K -$4.128K -$33.26K
YoY Change 68.54% -87.59% 232.63%
Depreciation, Depletion And Amortization $4.450K $1.490K $0.00
YoY Change 0.0%
Cash From Operating Activities -$1.610K $0.00 -$30.00K
YoY Change -100.06% -100.0% 200.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $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 1.690K 0.000 30.00K
YoY Change -100.08% -100.0%
NET CHANGE
Cash From Operating Activities -1.610K 0.000 -30.00K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 1.690K 0.000 30.00K
Net Change In Cash 80.00 0.000 0.000
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$1.610K $0.00 -$30.00K
Capital Expenditures
Free Cash Flow
YoY Change

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0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
FDIT Unrealized Loss On Availableforsale Securities
UnrealizedLossOnAvailableforsaleSecurities
30000 usd
FDIT Unrealized Loss On Availableforsale Securities
UnrealizedLossOnAvailableforsaleSecurities
21000 usd
FDIT Common Stock Issued Debt Related Party
CommonStockIssuedDebtRelatedParty
0 usd
FDIT Common Stock Issued Debt Related Party
CommonStockIssuedDebtRelatedParty
28270 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_zkDXrKC3YaMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #252525"><i><span style="text-decoration: underline"><span id="xdx_869_ziA16nMCLme">Use of Estimates</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #252525">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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #252525"> </p>
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4619 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4795 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3439861 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
200000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
200000 usd
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
4189 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4189 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
195811 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
195811 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4449 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4978 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
5168 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
180440 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
200000 usd

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