2023 Q1 Form 10-K Financial Statement

#000168316823001765 Filed on March 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $34.33K $23.68K $92.49K
YoY Change 1354.25%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $34.33K $23.68K $92.49K
YoY Change 13.97% 1354.47%
Operating Profit -$34.33K -$92.49K
YoY Change 13.97% 1354.47%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income -$34.33K -$23.68K -$92.49K
YoY Change 13.97% 1354.47%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$34.33K -$23.68K -$92.49K
YoY Change 239.2% 1354.47%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 71.85B shares 71.85B shares
Diluted Shares Outstanding 71.85M shares 71.85B shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.710K $5.030K $5.030K
YoY Change
Cash & Equivalents $1.705K $5.032K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables $512.0K $380.0K
Total Short-Term Assets $513.7K $385.0K $385.0K
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 $513.7K $385.0K $385.0K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $513.7K $385.0K $385.0K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.25K $88.25K $88.25K
YoY Change 828.95%
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 $905.3K $742.3K $742.3K
YoY Change 180.34% -41.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.003M $1.003M $1.003M
YoY Change 0.0%
Total Long-Term Liabilities $1.003M $1.003M $1.003M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $905.3K $742.3K $742.3K
Total Long-Term Liabilities $1.003M $1.003M $1.003M
Total Liabilities $1.908M $1.745M $1.745M
YoY Change 37.68% 37.68%
SHAREHOLDERS EQUITY
Retained Earnings -$73.97M -$73.93M
YoY Change 0.13%
Common Stock $71.85K $71.85M
YoY Change 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.394M -$1.360M -$1.360M
YoY Change
Total Liabilities & Shareholders Equity $513.7K $385.0K $385.0K
YoY Change

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$34.33K -$23.68K -$92.49K
YoY Change 239.2% 1354.47%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$34.33K -$13.74K -$13.74K
YoY Change 28505.83% 110.77%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $380.0K $380.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$132.0K -$380.0K -$380.0K
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 $163.0K 398.8K $398.8K
YoY Change 135733.33% -377.07%
NET CHANGE
Cash From Operating Activities -$34.33K -13.74K -$13.74K
Cash From Investing Activities -$132.0K -380.0K -$380.0K
Cash From Financing Activities $163.0K 398.8K $398.8K
Net Change In Cash -$3.327K 5.030K $5.032K
YoY Change -103.34%
FREE CASH FLOW
Cash From Operating Activities -$34.33K -$13.74K -$13.74K
Capital Expenditures $0.00 $380.0K $380.0K
Free Cash Flow -$34.33K -$393.7K -$393.7K
YoY Change 5939.88%

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<p id="xdx_84F_eus-gaap--UseOfEstimates_zp8QUUxFOOzi" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span style="text-decoration: underline">Use of estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s significant estimates include income taxes provision and valuation allowance of deferred tax assets; the fair value of financial instruments; the carrying value and recoverability of long-lived assets, including the values assigned to an estimated useful lives of computer equipment; and the assumption that the Company will continue as a going concern. Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management regularly reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
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