2022 Q3 Form 10-Q Financial Statement

#000121390022049669 Filed on August 19, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $350.00 $3.060K
YoY Change -100.0% -96.54% -24.07%
Cost Of Revenue $65.00 $46.67K $850.00
YoY Change -98.98% 696.25% -56.85%
Gross Profit -$65.00 -$46.32K $2.210K
YoY Change -100.87% -651.78% 7.28%
Gross Profit Margin -13234.86% 72.22%
Selling, General & Admin $1.069M $894.9K $974.9K
YoY Change 542.6% 469.77% 219.2%
% of Gross Profit 44112.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
% of Gross Profit 0.0%
Operating Expenses $1.135M $965.9K $974.9K
YoY Change 578.37% 278.29% 218.35%
Operating Profit -$1.135M -$1.012M -$972.7K
YoY Change 610.31% 309.91% 219.78%
Interest Expense -$250.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $447.00 $250.00 $180.00
YoY Change
Pretax Income -$1.134M -$1.012M -$972.5K
YoY Change 610.03% 309.81% 219.72%
Income Tax
% Of Pretax Income
Net Earnings -$1.134M -$1.012M -$972.5K
YoY Change 610.03% 309.81% 219.72%
Net Earnings / Revenue -289137.71% -31780.72%
Basic Earnings Per Share $0.00 $0.00 -$0.14
Diluted Earnings Per Share $0.00 $0.00 -$3.091K
COMMON SHARES
Basic Shares Outstanding 450.1M shares 351.5M shares 6.992M shares
Diluted Shares Outstanding 375.9M shares 351.5M shares 6.992M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.86K $24.57K $94.33K
YoY Change -2.86% -70.45% -81.19%
Cash & Equivalents $10.86K $24.57K $94.33K
Short-Term Investments
Other Short-Term Assets $22.49K $25.34K $11.88K
YoY Change -7.56% -72.46% -78.72%
Inventory $0.00 $0.00 $46.47K
Prepaid Expenses $10.49K $13.34K
Receivables $20.68K $3.478K $23.88K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $54.02K $73.82K $176.6K
YoY Change -39.32% -71.26% -71.03%
LONG-TERM ASSETS
Property, Plant & Equipment $9.947K $9.947K $334.0K
YoY Change 261.71% 261.71% 12044.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.42K $12.72K $12.00K
YoY Change
Total Long-Term Assets $315.6K $330.8K $346.0K
YoY Change 789.3% 811.07% 832.31%
TOTAL ASSETS
Total Short-Term Assets $54.02K $73.82K $176.6K
Total Long-Term Assets $315.6K $330.8K $346.0K
Total Assets $369.6K $404.6K $522.5K
YoY Change 196.85% 38.02% -19.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $219.8K $159.0K $105.6K
YoY Change 420.58% 155.91% -11.98%
Accrued Expenses $64.33K $62.80K $61.28K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $160.0K $0.00 $0.00
YoY Change -68.03% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $519.2K $296.8K $241.9K
YoY Change -4.35% -47.25% -60.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $231.4K $247.9K $264.2K
YoY Change
Total Long-Term Liabilities $231.4K $247.9K $264.2K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $519.2K $296.8K $241.9K
Total Long-Term Liabilities $231.4K $247.9K $264.2K
Total Liabilities $750.6K $544.7K $506.1K
YoY Change 38.29% -3.19% -17.9%
SHAREHOLDERS EQUITY
Retained Earnings -$22.89M -$21.75M
YoY Change
Common Stock $380.1K $368.1K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$381.0K -$140.1K $16.43K
YoY Change
Total Liabilities & Shareholders Equity $369.6K $404.6K $522.5K
YoY Change 196.85% 38.02% -19.17%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.134M -$1.012M -$972.5K
YoY Change 610.03% 309.81% 219.72%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Cash From Operating Activities -$174.2K -$210.7K -$219.8K
YoY Change 142.03% -49.65% -37.94%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$6.270K -$13.65K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $470.00 $0.00 -$20.00K
YoY Change
Cash From Investing Activities $470.00 -$6.270K -$33.65K
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 160.0K 147.2K 199.5K
YoY Change -66.74%
NET CHANGE
Cash From Operating Activities -174.2K -210.7K -219.8K
Cash From Investing Activities 470.0 -6.270K -33.65K
Cash From Financing Activities 160.0K 147.2K 199.5K
Net Change In Cash -13.72K -69.75K -53.90K
YoY Change -80.94% -83.33%
FREE CASH FLOW
Cash From Operating Activities -$174.2K -$210.7K -$219.8K
Capital Expenditures $0.00 -$6.270K -$13.65K
Free Cash Flow -$174.2K -$204.4K -$206.1K
YoY Change 142.03% -51.15% -41.79%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 19.4pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and accompanying notes. Significant estimates include the assumption used in the valuation of equity-based transactions, valuation of intangible assets, allowance for doubtful accounts and inventory valuation and reserves. Actual results could differ from those estimates. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 19.4pt"> </p>
CY2022Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
0 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
0 usd
us-gaap Accounts Receivable Sale
AccountsReceivableSale
3636 usd
CY2021 us-gaap Accounts Receivable Sale
AccountsReceivableSale
3636 usd
bspk Operating Expense
OperatingExpense
12000 usd
CY2022Q2 us-gaap Inventory Gross
InventoryGross
0 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
79909 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
43574 usd
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
0 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3251 usd
CY2022Q2 bspk Inventory Reserves
InventoryReserves
79909 usd
CY2021Q4 bspk Inventory Reserves
InventoryReserves
33476 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
0 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
46072874 shares
bspk Conversion Of A Convertible Note
ConversionOfAConvertibleNote
500000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
20185 usd
CY2017Q1 us-gaap Temporary Equity Shares Subscribed But Unissued
TemporaryEquitySharesSubscribedButUnissued
200000 shares
CY2017Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
30000 usd
CY2020 us-gaap Asset Acquisition Consideration Transferred Transaction Cost
AssetAcquisitionConsiderationTransferredTransactionCost
5282 usd
CY2020 bspk Impairment Of Unrelated Party
ImpairmentOfUnrelatedParty
289 usd
CY2020 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
44614 usd
CY2020 us-gaap Regulatory Liability Amortization Period
RegulatoryLiabilityAmortizationPeriod
P15Y
CY2020Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
3244 usd
CY2022Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
0 usd
CY2021Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
3060 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
3871 usd
bspk Transferred Amount
TransferredAmount
32748 usd
CY2022Q1 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
10000 usd
CY2022Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.05 pure
CY2022Q1 us-gaap Investment Maturity Date
InvestmentMaturityDate
2023-01-18
CY2022Q1 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
10000 usd
CY2022Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.05 pure
CY2022Q1 us-gaap Investment Maturity Date
InvestmentMaturityDate
2023-02-08
CY2022Q2 bspk Note Payable Repaid
NotePayableRepaid
2500 usd
bspk Total Sales In Percentage
TotalSalesInPercentage
0.10 pure
CY2021Q2 bspk Total Sales In Percentage
TotalSalesInPercentage
0.10 pure
bspk Total Sales In Percentage
TotalSalesInPercentage
0.10 pure
CY2019Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
500000 usd
CY2019Q4 bspk Purchase Amount
PurchaseAmount
300000 usd
CY2019Q4 bspk Stock Issued During Period Shares New Issue
StockIssuedDuringPeriodSharesNewIssue
5000000 shares
CY2019Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
55000 usd
CY2019Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.005
CY2019Q4 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
245000 usd
CY2019Q4 us-gaap Defined Benefit Plan Funded Percentage
DefinedBenefitPlanFundedPercentage
0.0499 pure
CY2019Q4 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
April 30, 2020
CY2019Q4 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.001
CY2019Q4 bspk Conversion Price Reduced Per Share
conversionPriceReducedPerShare
0.0004
CY2019Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.09 pure
CY2021Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.05
CY2021Q3 bspk Debenture Holder Converted Amount
DebentureHolderConvertedAmount
100000 usd
CY2021Q3 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
2000000 shares
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.05
CY2021Q4 bspk Principal Amount
PrincipalAmount
400000 usd
CY2021Q4 bspk Exchange Debenture
ExchangeDebenture
32748 usd
CY2022Q2 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P5Y
CY2022Q2 us-gaap Lessee Finance Lease Renewal Term1
LesseeFinanceLeaseRenewalTerm1
P5Y
us-gaap Payments For Rent
PaymentsForRent
6000 usd
CY2022Q2 us-gaap Purchase Obligation
PurchaseObligation
600000 usd
bspk Rightofuse Assets Classification
RightofuseAssetsClassification
Right of use assets
CY2022Q2 bspk Operating Leases Right Of Use Asset
OperatingLeasesRightOfUseAsset
308142 usd
bspk Current Lease Liabilities Classification
CurrentLeaseLiabilitiesClassification
Current operating lease liabilities
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
62797 usd
bspk Noncurrent Lease Liabilities Classification
NoncurrentLeaseLiabilitiesClassification
Long-term operating lease liabilities
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
247907 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
310704 usd
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M1D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04 pure
us-gaap Operating Lease Cost
OperatingLeaseCost
38196 usd
us-gaap Lease Cost
LeaseCost
20148 usd
CY2021Q4 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
Company issued to a consultant options to purchase 1,000,000 shares of common stock at an exercise price of $0.03. The options vest over a period of 3 months and have a term of 10 years. The options were valued at $30,000 using a Black-Scholes pricing model.
CY2022Q2 us-gaap Other Expenses
OtherExpenses
0 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
36000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
36200 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
75600 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
75915 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
79380 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
72765 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
339860 usd
CY2022Q2 bspk Lessee Operating Lease Liability Present Value Discount
LesseeOperatingLeaseLiabilityPresentValueDiscount
-29129 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
310704 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q4 bspk Purchase Agreements Description
PurchaseAgreementsDescription
Pursuant to the Wonderleaf Purchase Agreement, Bespoke Colorado agreed to purchase from WonderLeaf, and WonderLeaf agreed to sell to Bespoke Colorado, certain assets of WonderLeaf, including a license to manufacture marijuana-infused products, existing inventory, and extraction equipment and ancillary items, all as further set forth in the Wonderleaf Purchase Agreement, for a purchase price of $225,000, to be paid in shares of common stock of the Company (including 2,500,000 shares issuable, and to be held in escrow, upon execution of the Purchase Agreement, and an additional $150,000 of common stock that will be valued based on the volume weighted average price of the common stock, subject to a floor of $0.02 per share and a ceiling of $0.04 per share), provided that, the purchase price for the inventory will be 90% of the wholesale value of the regulated marijuana portion of the inventory and the packaging corresponding thereto set forth on the inventory accounting statement to be prepared pursuant to the Wonderleaf Purchase Agreement.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
68890000 shares
us-gaap Deferred Compensation Arrangement With Individual Shares Issued
DeferredCompensationArrangementWithIndividualSharesIssued
17222500 shares
us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
344450 usd
us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.05
bspk Expire Date
ExpireDate
2023-06-30
us-gaap Other Expenses
OtherExpenses
24900 usd
CY2020Q2 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
100000000 shares
CY2020Q2 us-gaap Accelerated Share Repurchases Initial Price Paid Per Share
AcceleratedShareRepurchasesInitialPricePaidPerShare
0.001
CY2021Q4 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
40000 usd
CY2022Q2 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
4792 usd
CY2021Q2 bspk Mr Pollack An Annual Salary
MrPollackAnAnnualSalary
66000 usd
bspk Mr Pollack Forgive Salary
MrPollackForgiveSalary
11000 usd
CY2021Q3 bspk Principal Amounts
PrincipalAmounts
400000 usd
CY2021Q4 bspk Executive Officer Salary
ExecutiveOfficerSalary
8000 usd
CY2021Q4 bspk Stock Issued During Period Shares Others
StockIssuedDuringPeriodSharesOthers
30000000 shares
CY2021Q4 us-gaap Stock Option Exercise Price Decrease
StockOptionExercisePriceDecrease
0.06
CY2021Q4 bspk Premium Percentage
PremiumPercentage
1.20 pure
bspk Total Accounts Receivable
TotalAccountsReceivable
0.10 pure
CY2021 bspk Total Accounts Receivable
TotalAccountsReceivable
0.10 pure
CY2022Q2 bspk Total Sales In Percentage
TotalSalesInPercentage
0.10 pure
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7000000 shares
CY2021Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
usd
CY2021Q4 bspk Note Receivable And Accrued Interest
NoteReceivableAndAccruedInterest
usd
CY2022Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
usd
bspk Amortization And Impairment Expense Of Domain Names
AmortizationAndImpairmentExpenseOfDomainNames
usd
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
bspk Inventory Reserve
InventoryReserve
usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
usd
us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
us-gaap Stock Issued1
StockIssued1
usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
usd
dei Amendment Flag
AmendmentFlag
false
dei City Area Code
CityAreaCode
855
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001409197
dei Local Phone Number
LocalPhoneNumber
633-3738
CY2022Q2 bspk Preferred Stock Value1
PreferredStockValue1
usd

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