2022 Q3 Form 10-Q Financial Statement
#000101738622000348 Filed on August 11, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | $213.0K | $151.0K | |
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $37.10K | $14.15K | $11.29K |
YoY Change | 1207.79% | 368.11% | |
Operating Profit | -$37.10K | -$14.15K | -$11.29K |
YoY Change | 1207.79% | 368.11% | |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$37.10K | -$14.21K | -$11.29K |
YoY Change | 1207.79% | 369.9% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | $0.00 | $0.00 |
Diluted Earnings Per Share | -$10.49 | -$7.59 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 256.7M shares | 256.7M shares | 256.7M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $73.18K | $73.18K | $1.233K |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $109.0K | $73.18K | |
YoY Change | |||
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 | |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $109.0K | $73.18K | |
Total Long-Term Assets | $0.00 | $0.00 | |
Total Assets | $109.0K | $73.18K | |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $27.40K | $4.000K | |
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $190.4K | $117.5K | |
YoY Change | |||
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | |||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $190.4K | $117.5K | |
Total Long-Term Liabilities | |||
Total Liabilities | $190.4K | $117.5K | |
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.620M | -$1.583M | |
YoY Change | |||
Common Stock | $25.67K | $25.67K | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$81.45K | -$44.35K | -$30.14K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $109.0K | $73.18K | |
YoY Change |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$37.10K | -$14.21K | -$11.29K |
YoY Change | 1207.79% | 369.9% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$18.75K | ||
YoY Change | |||
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 | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $19.98K | ||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -$18.75K | ||
Cash From Investing Activities | |||
Cash From Financing Activities | $19.98K | ||
Net Change In Cash | $1.233K | ||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$18.75K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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FUEL DOCTOR HOLDINGS, INC. | ||
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<p id="xdx_800_eus-gaap--NatureOfOperations_zSOp6fZWu1r1" style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><span style="text-decoration: underline">NOTE 1 – GENERAL</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0px"> </td> <td style="width: 48px"><span style="font-size: 11pt">a.</span></td> <td style="text-align: justify"><span style="font-size: 11pt">Fuel Doctor Holdings, Inc. (“Fuel Doctor” or the “Company”) was incorporated in the state of Delaware on March 25, 2008 as Silver Hill Management Services, inc. On August 24, 2011, the Company entered into an Agreement and Plan of Reorganization (the “Plan”) with Fuel Doctor, LLC, a California Limited Liability company. Pursuant to the terms of the Plan, the members of Fuel Doctor, LLC agreed to transfer all of the issued and outstanding limited units in Fuel Doctor, LLC to the Company in exchange for the issuance of an aggregate of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20080101__20080325_pdd">9,367,500</span> shares of the Company’s stock, thereby causing Fuel Doctor, LLC to become a wholly owned subsidiary of the Company. Immediately following the closing of the Plan, the Company changed its name to Fuel Doctor Holdings, Inc.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0px"> </td> <td style="width: 48px"><span style="font-size: 11pt">b.</span></td> <td style="text-align: justify"><span style="font-size: 11pt">The COVID-19 pandemic, which originated in China in late 2019, has since spread across the globe and affected the economic condition of most, if not all, countries, including the United States, Israel and many countries in Europe. On March 11, 2020, the World Health Organization declared the outbreak a pandemic. While COVID-19 is still spreading and the final implications of the pandemic are difficult to estimate at this stage, it is clear that it has affected the lives of a large portion of the global population. As of June 30, 2022, the pandemic has caused repeated states of emergency to be declared in various countries, ongoing and extended travel restrictions have been imposed for several months, strict quarantines rules have been established and maintained for an extended period of time in a plethora of jurisdictions and various institutions and companies have been closed and rendered bankrupt. The Company is actively monitoring the pandemic and is taking any necessary measures to respond to the situation in cooperation with the various stakeholders. Due to the uncertainty surrounding the COVID-19 pandemic, the Company will continue to assess the situation, including government-imposed restrictions, market by market. It is not possible at this time to estimate the full impact that the COVID-19 pandemic could have on the Company’s business, the continued spread of COVID-19, and any additional measures taken by governments, health officials or by the Company in response to such spread, could have on the Company’s business, results of operations and financial condition. The COVID-19 pandemic and mitigation measures have also negatively impacted global economic conditions, which, in turn, could adversely affect the Company’s business, results of operations and financial condition. The extent to which the COVID-19 outbreak continues to impact the Company’s financial condition will depend on future developments that are highly uncertain and cannot be predicted, including new government actions or restrictions, new information that may emerge concerning the severity, longevity and impact of the COVID-19 pandemic on economic activity.</span></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
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BasisOfAccounting
|
<p id="xdx_842_eus-gaap--BasisOfAccounting_zMRrhuSMUDs" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white"><b>Unaudited Interim Financial Information</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white">The Company’s unaudited condensed financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2021 and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on April 18, 2022 (the “2021 Annual Report”).</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white">The unaudited condensed financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the six months ended June 30, 2022 are not necessarily indicative of the results for the year ending December 31, 2022, or for any future period.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; background-color: white">As of June 30, 2022, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2021 Annual Report.</p> | ||
CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1557525 | usd |
CY2022Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1583016 | usd |
CY2021Q1 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
300000000 | shares |
CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
290000000 | shares |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
256739363 | shares |
CY2022Q2 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
110000 | usd |
CY2022Q2 | fdoc |
Private Placement Proposed
PrivatePlacementProposed
|
270000 | usd |
CY2022Q2 | us-gaap |
Share Price
SharePrice
|
0.003 | |
us-gaap |
Officers Compensation
OfficersCompensation
|
15000 | usd | |
CY2022Q2 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
3524 | usd |
us-gaap |
Salaries And Wages
SalariesAndWages
|
1500 | usd | |
CY2022Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
11748 | usd |
CY2022Q2 | us-gaap |
Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
|
19980 | usd |
us-gaap |
Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
|
0.01 | pure | |
CY2022Q3 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
50000 | usd |