$CAHO
Caro Holdings Inc.

2023 Q1 Form 10-Q Financial Statement

#000164033423000246 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $60.00K $50.00K $9.130K
YoY Change 239.17% 447.65% 16.75%
% of Gross Profit
Research & Development $50.00K $49.45K $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $110.0K $103.0K $9.133K
YoY Change 521.82% 1027.3% 16.82%
Operating Profit -$103.0K -$9.133K
YoY Change 1027.3%
Interest Expense -$30.00K $75.22K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$73.61K
YoY Change
Pretax Income -$140.0K -$176.6K -$9.130K
YoY Change 691.41% 1833.92% 16.75%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$140.0K -$176.6K -$9.133K
YoY Change 691.41% 1833.29% 16.82%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 -$1.185K
COMMON SHARES
Basic Shares Outstanding 60.00M shares 40.00M shares 7.705M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $50.00K $1.440K
YoY Change 3372.22% 11.63%
Cash & Equivalents $2.279K $46.37K $1.438K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $8.292K $46.37K $1.438K
YoY Change 3124.55% -62.06%
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 $258.0K $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $8.292K $46.37K $1.438K
Total Long-Term Assets $258.0K $0.00 $0.00
Total Assets $266.3K $46.37K $1.438K
YoY Change 3124.55% -62.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.00K $20.00K $11.95K
YoY Change 98.02% 67.36% 10.34%
Accrued Expenses $10.00K $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $290.0K $210.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $391.1K $283.1K $141.1K
YoY Change 1677.28% 100.59% 53.89%
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 $391.1K $283.1K $141.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $391.1K $283.1K $141.1K
YoY Change 1677.28% 100.59% 53.89%
SHAREHOLDERS EQUITY
Retained Earnings -$563.9K -$563.9K -$189.7K
YoY Change 171.85% 197.2%
Common Stock $600.00 $400.00 $77.00
YoY Change 50.0% 419.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$124.8K -$236.7K -$139.7K
YoY Change
Total Liabilities & Shareholders Equity $266.3K $46.37K $1.438K
YoY Change 3124.55% -62.06%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$140.0K -$176.6K -$9.133K
YoY Change 691.41% 1833.29% 16.82%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$80.00K -$90.00K -$130.00
YoY Change 5455.56% 69130.77% -72.34%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$10.00K
YoY Change
Cash From Investing Activities -$10.00K
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 50.00K 140.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -80.00K -90.00K -130.0
Cash From Investing Activities -10.00K
Cash From Financing Activities 50.00K 140.0K 0.000
Net Change In Cash -40.00K 50.00K -130.0
YoY Change 2677.78% -38561.54% 8.33%
FREE CASH FLOW
Cash From Operating Activities -$80.00K -$90.00K -$130.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Type
DocumentType
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dei Document Quarterly Report
DocumentQuarterlyReport
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dei Document Period End Date
DocumentPeriodEndDate
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dei Document Transition Report
DocumentTransitionReport
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
CARO HOLDINGS INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Address Address Line1
EntityAddressAddressLine1
7 Castle Street
dei Entity Address City Or Town
EntityAddressCityOrTown
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dei Entity Address Country
EntityAddressCountry
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dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
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dei City Area Code
CityAreaCode
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dei Local Phone Number
LocalPhoneNumber
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dei Entity Current Reporting Status
EntityCurrentReportingStatus
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dei Entity Interactive Data Current
EntityInteractiveDataCurrent
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Small Business
EntitySmallBusiness
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EntityEmergingGrowthCompany
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<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Nine Months Ended</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Nine Months Ended</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2022</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2021</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></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; text-align:justify;">Spot GBP: USD exchange rate</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;">1.2051</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 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;">n/a</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; text-align:justify;">Average GBP: USD exchange rate</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;">1.1749</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 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;">n/a</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
caro Foreign Currency Exchange Rate Translation Spot Gbp Usd Exchange Rate
ForeignCurrencyExchangeRateTranslationSpotGbpUsdExchangeRate
1.2051 pure
caro Foreign Currency Exchange Rate Translation Average Gbp Usd Exchange Rate
ForeignCurrencyExchangeRateTranslationAverageGbpUsdExchangeRate
1.1749 pure
us-gaap Use Of Estimates
UseOfEstimates
<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.</p>
us-gaap Reclassifications
Reclassifications
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassification had no impact on net loss and financial position.</p>
caro Convertible Note Recognitionpolicy
ConvertibleNoteRecognitionpolicy
<p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">The Company follows ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”) in its evaluation of the accounting for a hybrid instrument. A financial instrument that embodies an unconditional obligation, or a financial instrument other than an outstanding share that embodies a conditional obligation, that the issuer must or may settle by issuing a variable number of its equity shares shall be classified as a liability (or an asset in some circumstances) if, at inception, the monetary value of the obligation is based solely or predominantly on any one of the following: (a) a fixed monetary amount known at inception; (b) variations in something other than the fair value of the issuer’s equity shares; or (c) variations inversely related to changes in the fair value of the issuer’s equity shares. Hybrid instruments meeting these criteria are not further evaluated for any embedded derivatives. The Company records each convertible note as a liability at the fixed monetary amount by measuring and recording a premium, as applicable, on the note issuance date with a charge to interest expense in the accompanying consolidated statements of operations and comprehensive loss.</p>
caro Web Development Costpolicy
WebDevelopmentCostpolicy
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In accordance with FASB ASC 350-50 “Web Development Costs”, all costs incurred during the website planning stage are incurred. During the website application and infrastructure development stage, software tool costs and internet domain costs are capitalized, and website hosting costs are expensed. Cost incurred in the graphics development, content development and operating stage are generally expensed unless the costs are software related and should then be capitalized. During the nine ended December 31, 2022, the Company incurred $6,463 web development cost.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
183333 shares
CY2022Q4 caro Unaffiliated Party Promissory Note Principal Amount
UnaffiliatedPartyPromissoryNotePrincipalAmount
25000 usd
CY2022Q4 us-gaap Derivative Variable Interest Rate
DerivativeVariableInterestRate
0.08 pure
CY2022Q4 us-gaap Notes Payable
NotesPayable
25000 usd
CY2022Q1 us-gaap Notes Payable
NotesPayable
0 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
455 usd
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
0 usd
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
183333 usd
CY2022Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0 usd
CY2022Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
52321 usd
CY2022Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1800 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
40000000 shares

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