2021 Q4 Form 10-K Financial Statement
#000147793223006679 Filed on September 07, 2023
Income Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
Revenue | $6.938K | ||
YoY Change | -73.47% | ||
Cost Of Revenue | $68.04K | ||
YoY Change | -77.85% | ||
Gross Profit | -$61.10K | ||
YoY Change | -78.25% | ||
Gross Profit Margin | -880.66% | ||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | $0.00 | ||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $0.00 | ||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $797.7K | ||
YoY Change | -8.73% | ||
Operating Profit | -$858.8K | ||
YoY Change | -25.64% | ||
Interest Expense | $96.03K | ||
YoY Change | -21.29% | ||
% of Operating Profit | |||
Other Income/Expense, Net | -$10.16K | ||
YoY Change | -92.3% | ||
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$868.9K | ||
YoY Change | -32.48% | ||
Net Earnings / Revenue | -12524.17% | ||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | |||
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $1.801K | $252.00 | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | $8.419K | $10.13K | |
Prepaid Expenses | $0.00 | $0.00 | |
Receivables | $0.00 | ||
Other Receivables | |||
Total Short-Term Assets | $10.22K | $10.38K | |
YoY Change | -1.54% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | $49.49K | |
YoY Change | -100.0% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $10.22K | $10.38K | |
Total Long-Term Assets | $0.00 | $0.00 | |
Total Assets | $10.22K | $10.38K | |
YoY Change | -1.54% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $787.2K | $609.5K | |
YoY Change | 29.15% | ||
Accrued Expenses | $199.5K | $107.0K | |
YoY Change | 86.44% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.903M | $1.437M | |
YoY Change | 32.44% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $95.49K | $201.4K | |
YoY Change | -52.58% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.903M | $1.437M | |
Total Long-Term Liabilities | $95.49K | $201.4K | |
Total Liabilities | $1.999M | $1.639M | |
YoY Change | 22.0% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$4.590M | -$3.721M | |
YoY Change | 23.35% | ||
Common Stock | $15.90K | $8.472K | |
YoY Change | 87.63% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$1.989M | -$1.628M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $10.22K | $10.38K | |
YoY Change | -1.54% |
Cashflow Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$868.9K | ||
YoY Change | -32.48% | ||
Depreciation, Depletion And Amortization | $0.00 | ||
YoY Change | |||
Cash From Operating Activities | -$343.3K | ||
YoY Change | -24.89% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | $0.00 | ||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $319.8K | ||
YoY Change | 259.33% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $344.8K | ||
YoY Change | -21.7% | ||
NET CHANGE | |||
Cash From Operating Activities | -$343.3K | ||
Cash From Investing Activities | $0.00 | ||
Cash From Financing Activities | $344.8K | ||
Net Change In Cash | $1.549K | ||
YoY Change | -109.31% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$343.3K | ||
Capital Expenditures | $0.00 | ||
Free Cash Flow | -$343.3K | ||
YoY Change |
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CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1801 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
252 | usd |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2020 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2021 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2020 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2021 | us-gaap |
Stock Issued1
StockIssued1
|
3000 | usd |
CY2020 | us-gaap |
Stock Issued1
StockIssued1
|
20000 | usd |
CY2021 | elite |
Shares To Be Issued For Accounts Payable Forgiveness
SharesToBeIssuedForAccountsPayableForgiveness
|
5000 | usd |
CY2020 | elite |
Shares To Be Issued For Accounts Payable Forgiveness
SharesToBeIssuedForAccountsPayableForgiveness
|
0 | usd |
CY2021 | elite |
Shares Issued For Stock Payable
SharesIssuedForStockPayable
|
13803 | shares |
CY2020 | elite |
Shares Issued For Stock Payable
SharesIssuedForStockPayable
|
962770 | shares |
CY2021 | elite |
Shares Issued For Patents
SharesIssuedForPatents
|
20000 | usd |
CY2021 | elite |
Convertible Note Issued For Accounts Payable
ConvertibleNoteIssuedForAccountsPayable
|
20000 | usd |
CY2020 | elite |
Convertible Note Issued For Accounts Payable
ConvertibleNoteIssuedForAccountsPayable
|
0 | usd |
CY2021 | elite |
Forgiveness Of Rpt Debt Interest And Ap
ForgivenessOfRptDebtInterestAndAp
|
0 | usd |
CY2020 | elite |
Forgiveness Of Rpt Debt Interest And Ap
ForgivenessOfRptDebtInterestAndAp
|
439545 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
500 | usd |
CY2020 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
10000 | usd |
CY2021 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The consolidated financial statements include the accounts and operations of the Company, and its wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated in preparing the consolidated financial statements. The Company has made certain reclassification adjustments to conform prior periods’ Consolidated Financial Statements and Notes to the Consolidated Financial Statements to the current presentation.</p> | |
CY2021Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
|
0 | usd |
CY2020Q4 | us-gaap |
Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
|
0 | usd |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
8419 | usd |
CY2020Q4 | us-gaap |
Inventory Net
InventoryNet
|
10128 | usd |
CY2021Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
0 | usd |
CY2020Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
0 | usd |
CY2021Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
|
545250 | usd |
CY2021Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
158914 | usd |
CY2021Q4 | elite |
Common Stock Convertible Shares Issuable
CommonStockConvertibleSharesIssuable
|
14083283 | shares |
CY2021 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
100000 | shares |
CY2021 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
0 | usd |
CY2020 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
0 | usd |
CY2021 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements 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> | |
CY2021 | us-gaap |
Revenues
Revenues
|
6938 | usd |
CY2020 | us-gaap |
Revenues
Revenues
|
26154 | usd |
CY2018Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2021Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
4589932 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
963886 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
963886 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
963886 | usd |
CY2020Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
781411 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
963886 | usd |
CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
781411 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2020Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2021 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
20000 | usd |
CY2020Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
465000000 | shares |
CY2021 | elite |
Description Of Shares Registered In The S1 Registration Statement
DescriptionOfSharesRegisteredInTheS1RegistrationStatement
|
the company has raised $1,250,200 (25,000,000 shares issued and 0 of shares to be issued) through a registered offering for $1,250,000 which was registered with the SEC through an S1 registration statement which went effective on April 23, 2019 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
100000 | shares |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
5000 | usd |
CY2020Q2 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
50000 | shares |
CY2020Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
2500 | usd |
CY2021 | elite |
Impair License Fee
ImpairLicenseFee
|
10000 | usd |
CY2021 | elite |
Shares Issued For Licensing Agreement Shares
SharesIssuedForLicensingAgreementShares
|
5000000 | shares |
CY2021 | elite |
Share Issued For Licensing Agreement Amount
ShareIssuedForLicensingAgreementAmount
|
500 | usd |
CY2021 | elite |
Shares Issued For Subscriptions Amount
SharesIssuedForSubscriptionsAmount
|
208800 | usd |
CY2021 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
3287000 | shares |
CY2021 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
160547 | usd |
CY2021 | elite |
Shares Issued For Commitment Fee Shares
SharesIssuedForCommitmentFeeShares
|
60000 | shares |
CY2021 | elite |
Shares Issued For Commitment Fee Amount
SharesIssuedForCommitmentFeeAmount
|
3000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
|
400000 | shares |
CY2021 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
20000 | usd |
CY2021 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
20000 | usd |
CY2021 | elite |
Reg D Subscriptions Shares
RegDSubscriptionsShares
|
111000 | shares |
CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
98971300 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
35000000 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
10000000 | shares |
CY2021 | elite |
Schedule Of Stock Issued Acquisition Tbleext Block
ScheduleOfStockIssuedAcquisitionTbleextBlock
|
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto;width:85%"><tbody><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Additional paid-in-capital</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">6,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Common stock, based on par value of $0.0001</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(5,000 </td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Preferred stock, based on par value of $0.0001</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(1,000 </td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr></tbody></table> | |
CY2021Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
6000 | usd |
CY2021Q4 | elite |
Common Stock Based On Par Value Of00001
CommonStockBasedOnParValueOf00001
|
-5000 | usd |
CY2021Q4 | elite |
Preferred Stock Based On Par Value Of00001
PreferredStockBasedOnParValueOf00001
|
-1000 | usd |
CY2020Q2 | us-gaap |
Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
|
201352 | usd |
CY2020Q2 | elite |
Interest Rates
InterestRates
|
0.0098 | pure |
CY2020Q2 | us-gaap |
Derivative Maturity Dates
DerivativeMaturityDates
|
2022-04-23 | |
CY2021Q4 | us-gaap |
Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
|
0 | usd |
CY2020Q4 | us-gaap |
Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
|
0 | usd |
CY2020Q4 | us-gaap |
Inventory Net
InventoryNet
|
10128 | usd |
CY2020Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
10128 | usd |
CY2020Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
0 | usd |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
8419 | usd |
CY2021Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
8419 | usd |
CY2021Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
0 | usd |