2023 Q1 Form 10-K Financial Statement
#000101738623000067 Filed on February 22, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $102.2K | ||
YoY Change | 254.88% | ||
% of Gross Profit | |||
Research & Development | $40.00K | $682.0K | |
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $38.83K | $102.2K | |
YoY Change | 244.03% | 254.94% | |
Operating Profit | -$38.83K | -$102.2K | |
YoY Change | 244.03% | 254.94% | |
Interest Expense | $5.000K | ||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$102.2K | ||
YoY Change | 482.78% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$38.20K | -$102.2K | |
YoY Change | 238.49% | 482.9% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | -$30.54 | |
Diluted Earnings Per Share | $0.00 | -$30.54 | |
COMMON SHARES | |||
Basic Shares Outstanding | 314.4M shares | 256.7M shares | 27.27K shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $107.1K | ||
YoY Change | |||
Cash & Equivalents | $3.159K | $107.1K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $78.78K | $107.1K | $107.1K |
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | $74.00K | ||
YoY Change | 0.0% | ||
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 | $78.78K | $107.1K | $107.1K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $78.78K | $107.1K | $107.1K |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $52.14K | $55.14K | |
YoY Change | 176.52% | 192.36% | |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | ||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $65.07K | $55.14K | $55.14K |
YoY Change | 192.43% | 192.36% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | ||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $65.07K | $55.14K | $55.14K |
Total Long-Term Liabilities | $0.00 | ||
Total Liabilities | $65.07K | $55.14K | $55.14K |
YoY Change | 192.43% | 192.36% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.698M | -$1.660M | |
YoY Change | 6.56% | ||
Common Stock | $31.44K | $31.44K | |
YoY Change | 22.46% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $13.72K | $51.92K | $51.92K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $78.78K | $107.1K | $107.1K |
YoY Change |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$38.20K | -$102.2K | |
YoY Change | 238.49% | 482.9% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$28.91K | -$65.94K | |
YoY Change | 54.18% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$75.00K | -$63.00K | |
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 | $173.0K | ||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -$28.91K | -$65.94K | |
Cash From Investing Activities | -$75.00K | -$63.00K | |
Cash From Financing Activities | $173.0K | ||
Net Change In Cash | -$103.9K | $107.1K | |
YoY Change | -8527.01% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$28.91K | -$65.94K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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<p id="xdx_800_eus-gaap--NatureOfOperations_zoB4ukGhmJq1" style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify"><b>NOTE 1 – NATURE OF OPERATIONS</b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify">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 changed its name to Fuel Doctor Holdings, Inc.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify">On January 6, 2022, Amitay Weiss, Asaf Itzhaik and Moshe Revach were appointed to fill existing vacancies on the Company’s Board of Directors in accordance with the written consent of majority of directors dated January 6, 2022. None of the newly appointed Directors had a prior relationship with the Company. In addition, on January 6, 2022, Amitay Weiss was appointed as the Chief Executive Officer of the Company and on January 26, 2022, Gadi Levin was appointed Chief Financial Officer of the Company.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 5pt 41.2pt 5pt 16.2pt">On January 7, 2022, Deanna Johnson resigned as an officer and as a director of the Company.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify">On March 11, 2022, Medigus Ltd, an Israeli company traded on NASDAQ (“Medigus”), Charging Robotics Ltd, a wholly owned subsidiary of Medigus (“Charging Robotics”) and the Company signed a non-binding letter of intent for a planned securities exchange agreement. The transaction, if executed, will result in Charging Robotics becoming a wholly owned subsidiary of the Company, and in exchange, Medigus will receive 80% of the issued and outstanding shares of common stock of the Company. Upon closing, Medigus will appoint nominees as officers and directors of the Company. As of the closing, the Company is required to have net cash in an amount of no less than $1.0 million, excluding the Company’s expenses in connection with the contemplated transaction. As of the date of these financial statements this transaction has not been consummated.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify">Charging Robotics is a pre-revenue start-up Israeli private company and has set out to change the way electric vehicles are charged. They are developing a robotic platform for charging vehicles in a wireless and automatic manner. At the heart of the technology is a wireless power transfer module that uses resonance coils to transfer energy wirelessly from the robot to the vehicle. The robotic platform is small enough to fit under the vehicle, it automatically positions itself for maximum efficiency charging and returns to its docking station at the end of the charging operation.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify; text-indent: 0.5in"> </p> | |
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UseOfEstimates
|
<p id="xdx_84C_eus-gaap--UseOfEstimates_zPXAy05tUd88" style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify"><b>2.2 Use of Estimates and Assumptions</b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify">The preparation of financial statements in conformity with U.S. GAAP 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> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 41.2pt 0 16.2pt; text-align: justify"> </p> | |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1659748 | usd |
CY2021Q1 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
300000000 | shares |
CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q1 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
3000000000 | shares |
CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
2990000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
314406030 | shares |
CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
256739363 | shares |
CY2021 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
220000000 | shares |
CY2021 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
22000 | usd |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
173000 | usd | |
fdoc |
Private Placement Proposed
PrivatePlacementProposed
|
270000 | usd | |
CY2022Q4 | us-gaap |
Share Price
SharePrice
|
0.003 | |
us-gaap |
Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
|
57666667 | shares | |
CY2021 | us-gaap |
Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
|
11248 | usd |
CY2022 | us-gaap |
Business Development
BusinessDevelopment
|
30000 | usd |
CY2021 | us-gaap |
Business Development
BusinessDevelopment
|
4397 | usd |
CY2022Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
3000 | usd |
CY2022Q4 | us-gaap |
Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
|
20000 | usd |
CY2022 | us-gaap |
Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
|
0.01 | pure |
CY2022 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
54 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1660000 | usd |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
348547 | usd |
CY2021 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
327080 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-348547 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-327080 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
580912 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
545134 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
580912 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
545134 | usd |
CY2023Q1 | us-gaap |
Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
|
75000 | usd |
CY2023Q1 | us-gaap |
Loans And Leases Receivable Ratio Of Nonperforming Loans To All Loans
LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans
|
0.05 | pure |