2022 Q4 Form 10-Q Financial Statement
#000149315222035106 Filed on December 12, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
Revenue | $5.000K | $0.00 | $20.00K |
YoY Change | -75.0% | ||
Cost Of Revenue | $0.00 | $147.00 | |
YoY Change | |||
Gross Profit | $5.000K | $0.00 | $19.85K |
YoY Change | -74.81% | ||
Gross Profit Margin | 100.0% | 99.27% | |
Selling, General & Admin | $10.00K | $10.00K | $40.00K |
YoY Change | -75.0% | ||
% of Gross Profit | 200.0% | 201.48% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $186.00 | $0.00 | $77.00 |
YoY Change | 141.56% | ||
% of Gross Profit | 3.72% | 0.39% | |
Operating Expenses | $6.471K | $10.00K | $40.00K |
YoY Change | -83.82% | ||
Operating Profit | -$1.471K | -$10.00K | -$16.83K |
YoY Change | -91.26% | ||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $425.00 | $0.00 | $650.00 |
YoY Change | -34.62% | ||
Pretax Income | -$1.046K | -$10.00K | -$16.18K |
YoY Change | -93.53% | ||
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$1.046K | -$10.00K | -$16.18K |
YoY Change | -93.53% | ||
Net Earnings / Revenue | -20.92% | -80.88% | |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 5.040M shares | 4.129M shares | |
Diluted Shares Outstanding | 5.040M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $10.00K | $20.00K | $50.00K |
YoY Change | -80.0% | ||
Cash & Equivalents | $14.26K | $19.31K | $47.81K |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $3.133K | $2.594K | |
Receivables | $5.000K | ||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $22.40K | $21.91K | $50.00K |
YoY Change | -55.21% | 8.43% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.413K | $1.599K | $0.00 |
YoY Change | 77.47% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $1.413K | $1.599K | $298.00 |
YoY Change | 374.16% | 77.47% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $22.40K | $21.91K | $50.00K |
Total Long-Term Assets | $1.413K | $1.599K | $298.00 |
Total Assets | $23.81K | $23.51K | $50.30K |
YoY Change | -52.66% | 11.38% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $2.500K | $2.500K | $20.00K |
YoY Change | -87.5% | -52.38% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $11.18K | $9.826K | $30.00K |
YoY Change | -62.75% | -45.2% | |
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 | $11.18K | $9.826K | $30.00K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $11.18K | $9.826K | $30.00K |
YoY Change | -62.75% | -45.2% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$26.97K | -$25.92K | |
YoY Change | 5970.49% | ||
Common Stock | $5.040K | $5.040K | |
YoY Change | 40.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $12.63K | $13.68K | $23.00K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $23.81K | $23.51K | $50.00K |
YoY Change | -52.38% | 11.38% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.046K | -$10.00K | -$16.18K |
YoY Change | -93.53% | ||
Depreciation, Depletion And Amortization | $186.00 | $0.00 | $77.00 |
YoY Change | 141.56% | ||
Cash From Operating Activities | -$5.474K | -$10.00K | -$8.007K |
YoY Change | -31.63% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | $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 | 0.000 | $36.00K | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -$5.474K | -10.00K | -$8.007K |
Cash From Investing Activities | 0.000 | 0.000 | |
Cash From Financing Activities | 0.000 | $36.00K | |
Net Change In Cash | -$5.049K | -10.00K | $27.99K |
YoY Change | -118.04% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$5.474K | -$10.00K | -$8.007K |
Capital Expenditures | $0.00 | ||
Free Cash Flow | -$5.474K | -$10.00K | -$8.007K |
YoY Change | -31.63% |
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27993 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
19312 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
19819 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
14263 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
47812 | usd |
CY2022Q4 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_zR6LGueLwzxe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2017Q4 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | pure |
CY2022Q4 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
3133 | usd |
CY2022Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
2594 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
|
3133 | usd |
CY2022Q3 | us-gaap |
Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
|
2594 | usd |
CY2022Q4 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
2231 | usd |
CY2022Q3 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
2231 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
818 | usd |
CY2022Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
632 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1413 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1599 | usd |
CY2022Q4 | us-gaap |
Depreciation
Depreciation
|
186 | usd |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
CY2021Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.025 | |
CY2021Q4 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
36000 | usd |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5040000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5040000 | shares |
CY2022Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
6471 | usd |
CY2022Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1471 | usd |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
0 | shares |
CY2022Q4 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
1046 | usd |
CY2021Q4 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
16175 | usd |
CY2022Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1046 | usd |
CY2021Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-16175 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
26967 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
|
The NOL carryforwards begin to expire in 2042, if unutilized. | |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
|
5663 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
5663 | usd |
CY2022Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
5443 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
5663 | usd |
CY2022Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
5443 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
5663 | usd |
CY2022Q4 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
5000 | usd |
CY2022Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
6471 | usd |
CY2022Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1471 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
23809 | usd |
CY2021Q4 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
20000 | usd |
CY2021Q4 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
147 | usd |
CY2021Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
36678 | usd |
CY2021Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-16825 | usd |
CY2021Q4 | us-gaap |
Assets
Assets
|
50298 | usd |
CY2022Q4 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
5000 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
23809 | usd |
CY2021Q4 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
20000 | usd |
CY2021Q4 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
147 | usd |
CY2021Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
36678 | usd |
CY2021Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-16825 | usd |
CY2021Q4 | us-gaap |
Assets
Assets
|
50298 | usd |
CY2022Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1046 | usd |
CY2022Q4 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5474 | usd |