2023 Q3 Form 10-Q Financial Statement

#000149315223031430 Filed on September 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $903.0K $233.3K $207.9K
YoY Change 145.04% 12.26% 304.18%
Cost Of Revenue $157.7K $59.83K $75.84K
YoY Change 20.53% -21.12% 258.75%
Gross Profit $745.3K $173.5K $132.0K
YoY Change 213.55% 31.43% 335.89%
Gross Profit Margin 82.54% 74.36% 63.52%
Selling, General & Admin $212.5K $308.8K $274.1K
YoY Change 8.48% 12.63% 44.58%
% of Gross Profit 28.51% 177.94% 207.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.38K $73.39K $67.05K
YoY Change -0.01% 9.46% 313.89%
% of Gross Profit 9.85% 42.29% 50.78%
Operating Expenses $417.6K $1.168M $341.2K
YoY Change 33.75% 242.3% 65.76%
Operating Profit $327.8K -$994.3K -$209.2K
YoY Change -539.9% 375.41% 19.15%
Interest Expense $102.1K $55.84K -$379.4K
YoY Change -52.22% -114.72% 565.88%
% of Operating Profit 31.14%
Other Income/Expense, Net -$553.8K -$68.94K -$85.09K
YoY Change -369.57% -18.98% -80.78%
Pretax Income -$226.1K -$1.063M -$673.6K
YoY Change -272.65% 57.82% -0.26%
Income Tax
% Of Pretax Income
Net Earnings -$226.1K -$1.063M -$673.6K
YoY Change -272.66% 57.82% -0.26%
Net Earnings / Revenue -25.04% -455.57% -324.04%
Basic Earnings Per Share $0.03 -$0.79 -$2.24
Diluted Earnings Per Share -$0.03 -$0.79 -$1.493K
COMMON SHARES
Basic Shares Outstanding 8.815M shares 1.896B shares 300.8K shares
Diluted Shares Outstanding 8.815M shares 1.347M shares 300.8K shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $206.7K $30.30K $14.93K
YoY Change 21207.22% 102.95% -62.67%
Cash & Equivalents $206.7K $30.30K $14.93K
Short-Term Investments
Other Short-Term Assets $18.01K $26.71K $3.860K
YoY Change 531.93% 591.97% -90.58%
Inventory
Prepaid Expenses
Receivables $843.0K $83.28K $121.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.068M $140.3K $139.8K
YoY Change 424.37% 0.35% 61.59%
LONG-TERM ASSETS
Property, Plant & Equipment $145.8K $150.0K $198.3K
YoY Change -22.3% -24.36% 4.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $988.9K $1.056M $7.000K
YoY Change 14027.13% 14983.51% 40.0%
Total Long-Term Assets $988.9K $1.056M $1.307M
YoY Change -19.82% -19.2% 342.23%
TOTAL ASSETS
Total Short-Term Assets $1.068M $140.3K $139.8K
Total Long-Term Assets $988.9K $1.056M $1.307M
Total Assets $2.057M $1.196M $1.446M
YoY Change 43.12% -17.31% 278.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.052M $3.054M $3.079M
YoY Change -1.21% -0.84% 3.93%
Accrued Expenses $224.1K $160.5K $381.6K
YoY Change -21.52% -57.94% 11.8%
Deferred Revenue $62.99K $62.99K
YoY Change -8.52%
Short-Term Debt $631.0K $660.6K $526.9K
YoY Change -33.92% 25.37% 1414.54%
Long-Term Debt Due $631.0K $660.6K $913.0K
YoY Change -33.92% -27.65% -4.84%
Total Short-Term Liabilities $6.166M $5.080M $5.824M
YoY Change 12.01% -12.78% 20.76%
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 $6.166M $5.080M $5.824M
Total Long-Term Liabilities $0.00
Total Liabilities $6.166M $5.080M $5.824M
YoY Change 12.01% -12.78% 20.76%
SHAREHOLDERS EQUITY
Retained Earnings -$13.87M -$13.65M
YoY Change 13.54%
Common Stock $881.00 $881.00
YoY Change -98.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.110M -$3.883M -$4.378M
YoY Change
Total Liabilities & Shareholders Equity $2.057M $1.196M $1.446M
YoY Change 43.12% -17.31% 278.67%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$226.1K -$1.063M -$673.6K
YoY Change -272.66% 57.82% -0.26%
Depreciation, Depletion And Amortization $73.38K $73.39K $67.05K
YoY Change -0.01% 9.46% 313.89%
Cash From Operating Activities -$294.1K -$52.94K $15.66K
YoY Change 713.87% -438.06% -108.86%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 470.5K 83.03K -6.000K
YoY Change 2022.97% -1483.83% -101.83%
NET CHANGE
Cash From Operating Activities -294.1K -52.94K 15.66K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 470.5K 83.03K -6.000K
Net Change In Cash 176.4K 30.09K 9.660K
YoY Change -1362.71% 211.49% -251.89%
FREE CASH FLOW
Cash From Operating Activities -$294.1K -$52.94K $15.66K
Capital Expenditures $0.00
Free Cash Flow $15.66K
YoY Change -48.67%

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<p id="xdx_846_eus-gaap--UseOfEstimates_zYpctOIm9k7i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_866_zA7YJTFuu0Tf">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEEP GREEN WASTE &amp; RECYCLING, INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>For the three and six months ended June 30, 2023 and 2022</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Unaudited)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-245907 usd
CY2023Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
179387 usd
CY2022Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
6179 usd
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
179387 usd
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
36683 usd
CY2023Q2 DGWR Income Tax Reconciliation Nontaxable Derivative Liability Expense
IncomeTaxReconciliationNontaxableDerivativeLiabilityExpense
2099 usd
CY2022Q2 DGWR Income Tax Reconciliation Nontaxable Derivative Liability Expense
IncomeTaxReconciliationNontaxableDerivativeLiabilityExpense
-17454 usd
DGWR Income Tax Reconciliation Nontaxable Derivative Liability Expense
IncomeTaxReconciliationNontaxableDerivativeLiabilityExpense
3667 usd
DGWR Income Tax Reconciliation Nontaxable Derivative Liability Expense
IncomeTaxReconciliationNontaxableDerivativeLiabilityExpense
129079 usd
CY2022Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
56592 usd
us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
2625 usd
us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
178972 usd
CY2023Q2 DGWR Nondeductible Loss On Conversions Of Convertible Notes Payable
NondeductibleLossOnConversionsOfConvertibleNotesPayable
-4809 usd
CY2022Q2 DGWR Nondeductible Loss On Conversions Of Convertible Notes Payable
NondeductibleLossOnConversionsOfConvertibleNotesPayable
-17869 usd
DGWR Nondeductible Loss On Conversions Of Convertible Notes Payable
NondeductibleLossOnConversionsOfConvertibleNotesPayable
-11509 usd
DGWR Nondeductible Loss On Conversions Of Convertible Notes Payable
NondeductibleLossOnConversionsOfConvertibleNotesPayable
-48523 usd
CY2023Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
41147 usd
CY2022Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
43358 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
77600 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
110808 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
1 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
1 pure
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The net operating loss carryforward at June 30, 2023 for the years 2003 to 2017 expires in varying amounts from year 2023 to year 2037.
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30295 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
140283 usd
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
5079628 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13645026 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-120236 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-180186 usd

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