$CLRI
Cleartronic, Inc.

2022 Q1 Form 10-Q Financial Statement

#000109181822000008 Filed on February 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2020 Q4
Revenue $470.6K $519.2K $381.3K
YoY Change 11.33% 36.15% -10.86%
Cost Of Revenue $65.90K $92.24K $60.33K
YoY Change -10.3% 52.88% -48.56%
Gross Profit $404.7K $426.9K $321.0K
YoY Change 15.88% 33.0% 3.38%
Gross Profit Margin 86.0% 82.23% 84.18%
Selling, General & Admin $251.0K $316.5K $253.2K
YoY Change 5.46% 24.97% 17.56%
% of Gross Profit 62.02% 74.12% 78.89%
Research & Development $47.02K $49.26K $30.79K
YoY Change 18.92% 59.99% -44.75%
% of Gross Profit 11.62% 11.54% 9.59%
Depreciation & Amortization $960.00 $814.00 $451.00
YoY Change 113.33% 80.49% -99.08%
% of Gross Profit 0.24% 0.19% 0.14%
Operating Expenses $299.0K $366.5K $284.5K
YoY Change 7.55% 28.85% 0.87%
Operating Profit $105.8K $60.42K $36.54K
YoY Change 48.38% 65.34% 28.25%
Interest Expense -$100.00 -$170.00
YoY Change
% of Operating Profit -0.09% -0.28%
Other Income/Expense, Net -$101.00 -$168.00 -$1.115K
YoY Change -32.67% -84.93% -71.34%
Pretax Income $105.7K $60.25K $35.42K
YoY Change 48.57% 70.07% 44.0%
Income Tax
% Of Pretax Income
Net Earnings $105.7K $60.25K $35.42K
YoY Change 48.57% 70.07% 2927.69%
Net Earnings / Revenue 22.45% 11.6% 9.29%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $462.70 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 228.6M shares 228.6M shares 224.0M shares
Diluted Shares Outstanding 599.7M shares 599.9M shares 600.8M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $383.8K $378.1K $58.44K
YoY Change 264.84% 546.97% 18162.5%
Cash & Equivalents $383.8K $378.1K $58.44K
Short-Term Investments
Other Short-Term Assets $36.04K $14.02K $53.82K
YoY Change -28.82% -73.95% -23.09%
Inventory $19.25K $21.24K $11.88K
Prepaid Expenses
Receivables $290.8K $273.4K $161.2K
Other Receivables $0.00 $0.00 $25.00K
Total Short-Term Assets $729.9K $686.7K $310.4K
YoY Change 112.23% 121.28% -6.59%
LONG-TERM ASSETS
Property, Plant & Equipment $14.68K $15.64K $7.980K
YoY Change 94.95% 95.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $67.97K $66.82K $22.40K
YoY Change 182.97% 198.31% -96.01%
TOTAL ASSETS
Total Short-Term Assets $729.9K $686.7K $310.4K
Total Long-Term Assets $67.97K $66.82K $22.40K
Total Assets $797.9K $753.6K $332.8K
YoY Change 116.85% 126.46% -62.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $153.0K $186.4K $238.5K
YoY Change -33.98% -21.86% -20.71%
Accrued Expenses $48.48K
YoY Change -65.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $32.83K
YoY Change -39.44%
Total Short-Term Liabilities $939.8K $1.001M $957.2K
YoY Change 0.53% 4.61% -30.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $106.7K
YoY Change -100.0% -100.0% 225.1%
Other Long-Term Liabilities $144.4K $144.2K $20.17K
YoY Change 2087.88% 614.92% -79.69%
Total Long-Term Liabilities $144.4K $144.2K $126.9K
YoY Change 27.42% 13.63% -3.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $939.8K $1.001M $957.2K
Total Long-Term Liabilities $144.4K $144.2K $126.9K
Total Liabilities $1.084M $1.146M $1.084M
YoY Change 3.44% 5.67% -28.13%
SHAREHOLDERS EQUITY
Retained Earnings -$15.63M
YoY Change
Common Stock $2.286K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$286.4K -$392.0K -$751.4K
YoY Change
Total Liabilities & Shareholders Equity $797.9K $753.6K $332.8K
YoY Change 116.85% 126.46% -62.78%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income $105.7K $60.25K $35.42K
YoY Change 48.57% 70.07% 2927.69%
Depreciation, Depletion And Amortization $960.00 $814.00 $451.00
YoY Change 113.33% 80.49% -99.08%
Cash From Operating Activities $5.680K -$17.85K -$1.927K
YoY Change -92.86% 826.26% -98.12%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $5.058K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$5.058K
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 0.000 -$15.62K
YoY Change -100.0% -120.73%
NET CHANGE
Cash From Operating Activities 5.680K -$17.85K -$1.927K
Cash From Investing Activities 0.000 -$5.058K
Cash From Financing Activities 0.000 -$15.62K
Net Change In Cash 5.680K -$22.91K -$17.54K
YoY Change -87.85% 30.58% -35.91%
FREE CASH FLOW
Cash From Operating Activities $5.680K -$17.85K -$1.927K
Capital Expenditures $0.00 $5.058K
Free Cash Flow $5.680K -$22.91K -$1.927K
YoY Change 1088.74%

Facts In Submission

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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:9pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">USE OF ESTIMATES</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:12pt; margin-bottom:0pt; ">In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and operations for the reporting period.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:12pt; margin-bottom:0pt; ">Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:12pt; margin-bottom:0pt; ">Significant estimates include the assumptions used in valuation of deferred tax assets, estimated useful life of property and equipment, valuation of inventory and allowance for doubtful accounts. </p>
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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:9pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">CONCENTRATION OF CREDIT RISK</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:12pt; margin-bottom:0pt; ">The Company currently maintains cash balances at one FDIC-insured banking institution. Deposits held in non interest-bearing transaction accounts are insured up to a maximum of $250,000 at all FDIC-insured institutions. As of December 31, 2021 and September 30, 2021, the Company had $0 and $139,577, respectively, in excess of FDIC insurance limits. </p>
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WeightedAverageNumberOfSharesOutstandingBasic
223994635 shares
CY2021Q4 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
371361635 shares
CY2020Q4 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
376820995 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
599940630 shares
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
600815630 shares
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2021Q4 us-gaap Advertising Expense
AdvertisingExpense
5025 USD
CY2020Q4 us-gaap Advertising Expense
AdvertisingExpense
3532 USD
CY2021Q4 clri Monthly Base Rent
MonthlyBaseRent
3630 USD
CY2021Q4 clri Annual Increase To Base Rent
AnnualIncreaseToBaseRent
0.04 pure
CY2021Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-11-30
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19180 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14122 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3545 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2731 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15635 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11391 USD
CY2021Q4 us-gaap Depreciation
Depreciation
814 USD
CY2020Q4 us-gaap Depreciation
Depreciation
451 USD
CY2021Q4 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
5886 USD
CY2020Q4 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
4473 USD
CY2021Q4 clri Area Of Leased Facility
AreaOfLeasedFacility
1700 sqft
CY2021Q4 clri Monthly Rental Cost
MonthlyRentalCost
3500 USD
CY2021Q4 clri Area Of Leased Facility
AreaOfLeasedFacility
2000 sqft
CY2021Q4 clri Monthly Rental Cost
MonthlyRentalCost
2200 USD
CY2021Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2022-11-30
CY2021Q4 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
5886 USD
CY2020Q4 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
4473 USD
CY2021Q4 us-gaap Royalty Expense
RoyaltyExpense
2000 USD
CY2020Q4 us-gaap Royalty Expense
RoyaltyExpense
2953 USD

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0001091818-22-000008.txt Edgar Link pending
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clri-20211231.xsd Edgar Link pending
clri-20211231_cal.xml Edgar Link unprocessable
clri-20211231_def.xml Edgar Link unprocessable
clri-20211231_lab.xml Edgar Link unprocessable
clri-20211231_pre.xml Edgar Link unprocessable
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