2024 Q1 Form 10-K Financial Statement
#000164033424000460 Filed on March 22, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $0.00 | $0.00 | |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $16.90K | $8.550K | |
YoY Change | 35.2% | -3.93% | |
% of Gross Profit | |||
Research & Development | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $16.90K | $8.550K | $41.15K |
YoY Change | 35.2% | -68.8% | -37.03% |
Operating Profit | |||
YoY Change | |||
Interest Expense | $9.042K | -$9.140K | $36.27K |
YoY Change | 1.11% | 0.0% | -3.66% |
% of Operating Profit | |||
Other Income/Expense, Net | -$9.042K | -$36.27K | |
YoY Change | 1.11% | -3.66% | |
Pretax Income | -$25.94K | -$17.69K | |
YoY Change | 20.99% | -51.59% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$25.94K | -$17.69K | -$77.42K |
YoY Change | 20.98% | -51.59% | -24.83% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.00 | $0.00 | |
COMMON SHARES | |||
Basic Shares Outstanding | 27.82M shares | 27.82M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $0.00 | $0.00 | |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $0.00 | $0.00 | $0.00 |
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 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $0.00 | $0.00 | $0.00 |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $58.21K | $57.76K | $57.76K |
YoY Change | 5.41% | -3.18% | -3.18% |
Accrued Expenses | $109.7K | $106.1K | $217.3K |
YoY Change | 15.25% | 15.8% | 20.03% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $156.3K | $0.00 | $0.00 |
YoY Change | 37.43% | -100.0% | -100.0% |
Long-Term Debt Due | $155.6K | $155.6K | $155.6K |
YoY Change | 0.0% | 0.0% | 0.0% |
Total Short-Term Liabilities | $596.5K | $570.5K | $570.5K |
YoY Change | 15.92% | 15.7% | 15.7% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $67.33K | $67.33K | $67.33K |
YoY Change | 0.0% | 0.0% | 0.0% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $67.33K | $67.33K | $67.33K |
YoY Change | 0.0% | 0.0% | 0.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $596.5K | $570.5K | $570.5K |
Total Long-Term Liabilities | $67.33K | $67.33K | $67.33K |
Total Liabilities | $663.8K | $637.9K | $637.9K |
YoY Change | 14.08% | 13.81% | 13.81% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$233.4M | -$233.4M | |
YoY Change | 0.04% | 0.03% | |
Common Stock | $237.9M | $237.9M | |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$663.8K | -$637.9K | -$637.9K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $0.00 | $0.00 | $0.00 |
YoY Change |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$25.94K | -$17.69K | -$77.42K |
YoY Change | 20.98% | -51.59% | -24.83% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$16.45K | -$26.11K | -$43.05K |
YoY Change | -2.89% | 7.23% | -30.34% |
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 | $16.45K | 26.11K | $43.05K |
YoY Change | -2.89% | 7.23% | -30.34% |
NET CHANGE | |||
Cash From Operating Activities | -$16.45K | -26.11K | -$43.05K |
Cash From Investing Activities | |||
Cash From Financing Activities | $16.45K | 26.11K | $43.05K |
Net Change In Cash | $0.00 | 0.000 | $0.00 |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$16.45K | -$26.11K | -$43.05K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
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2160 | usd |
CY2023Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
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67326 | usd |
CY2022Q4 | us-gaap |
Long Term Notes Payable
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67326 | usd |
CY2022 | us-gaap |
Net Income Loss
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-102996 | usd |
CY2023 | dei |
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FY | |
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Common Stock Shares Outstanding
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10-K | |
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2023-12-31 | |
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Entity File Number
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333-199193 | |
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Cloudweb, Inc. | |
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Entity Incorporation State Country Code
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FL | |
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Entity Tax Identification Number
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47-0978297 | |
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800 W El Camino Real Suite 180 | |
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Mountain View | |
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CA | |
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94040 | |
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773 | |
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236-8132 | |
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No | |
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BF Borgers CPA PC | |
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5041 | |
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Lakewood, CO | |
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Cloudweb, Inc. (the “Company”, or “we”) is a Florida corporation incorporated on May 25, 2014 as Formigli, Inc. In December 2015, the Company changed its name to Data Backup, Inc., and on November 4, 2016, the Company changed its name to Data Backup Solutions Inc. On October 1, 2017, the Company changed its name to Cloudweb, Inc.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">We are currently exploring different options of further developing and marketing our web hosting and data storage services. This includes plans to make hosting available for free while being supported by advertiser content. The Company will also look into white labeling its services to allow other brands to use our platforms for their own needs.</p> | |
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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> | |
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