$CBGL
CANNABIS GLOBAL, INC.

2014 Q1 Form 10-Q Financial Statement

#000114420414022332 Filed on April 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1 2013
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.00K $10.00K $40.00K
YoY Change 0.0% 0.0% -20.0%
% of Gross Profit
Research & Development $0.00 $0.00 $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.82K $11.02K $0.00
YoY Change -1.8% -8.47%
Operating Profit -$10.82K -$11.02K
YoY Change -1.8% -8.47%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$671.00 $0.00 $0.00
YoY Change -100.0%
Pretax Income -$10.00K -$10.00K -$40.00K
YoY Change 0.0% 0.0% -20.0%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.49K -$11.02K -$43.44K
YoY Change 4.29% -8.47% -19.22%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$11.14K
COMMON SHARES
Basic Shares Outstanding 53.86M shares 53.86M shares 53.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q1 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.00K $40.00K $20.00K
YoY Change 75.0% -50.0% -71.43%
Cash & Equivalents $70.50K $40.42K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $0.00
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $70.50K $40.00K $20.00K
YoY Change 76.25% -49.4% -71.43%
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 $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $70.50K $40.00K $20.00K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $70.50K $40.00K $20.00K
YoY Change 76.25% -49.4% -71.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.115K $0.00 $0.00
YoY Change -100.0%
Accrued Expenses
YoY Change
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 $6.115K $0.00 $0.00
YoY Change -100.0%
LONG-TERM LIABILITIES
Long-Term Debt $70.00K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $70.00K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.115K $0.00 $0.00
Total Long-Term Liabilities $70.00K $0.00 $0.00
Total Liabilities $76.79K $0.00 $0.00
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $5.386K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.288K $40.00K $20.00K
YoY Change
Total Liabilities & Shareholders Equity $70.50K $40.00K $20.00K
YoY Change 76.25% -49.4% -71.43%

Cashflow Statement

Concept 2014 Q1 2013 Q1 2013
OPERATING ACTIVITIES
Net Income -$11.49K -$11.02K -$43.44K
YoY Change 4.29% -8.47% -19.22%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$10.00K -$20.00K -$45.48K
YoY Change -50.0% -33.33% -6.83%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 70.00K 0.000 $0.00
YoY Change
NET CHANGE
Cash From Operating Activities -10.00K -20.00K -$45.48K
Cash From Investing Activities
Cash From Financing Activities 70.00K 0.000 $0.00
Net Change In Cash 60.00K -20.00K -$45.48K
YoY Change -400.0% -33.33% -6.83%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$20.00K -$45.48K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 1. Organization and Description of Business</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">MicroChannel Technologies Corporation (the &#8220;Company&#8221;) was formed as a wholly-owned subsidiary of New Energy Technologies, Inc. (&#8220;New Energy&#8221;). New Energy spun off its issued and outstanding shares to New Energy&#8217;s shareholders on December 18, 2007. The Company was incorporated under the name MultiChannel Technologies Corporation on February 28, 2005 in the State of Nevada, and changed to its existing name on April 4, 2005.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company is not currently engaged in any business operations. It is, however, in the process of attempting to identify, locate, and if warranted, acquire new commercial opportunities.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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dei Document Type
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dei Amendment Flag
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dei Document Period End Date
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dei Document Fiscal Year Focus
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CY2014Q2 dei Entity Common Stock Shares Outstanding
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dei Entity Registrant Name
EntityRegistrantName
MICROCHANNEL TECHNOLOGIES CORP
dei Entity Central Index Key
EntityCentralIndexKey
0001413488
dei Current Fiscal Year End Date
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dei Entity Filer Category
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Files In Submission

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