2022 Q3 Form 10-Q Financial Statement

#000147793222005701 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $4.872K $5.672K $5.830K
YoY Change -29.95% 15.61%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $901.6K $936.0K $801.7K
YoY Change 56.5% 82.41% 279.98%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $500.00 $500.00 $500.00
YoY Change 0.0% 0.0% 354.55%
% of Gross Profit
Operating Expenses $902.1K $936.5K $802.2K
YoY Change 56.45% 82.33% 280.01%
Operating Profit -$897.2K -$930.8K
YoY Change 57.51% 82.97%
Interest Expense $110.4K $158.6K $2.602M
YoY Change -13.76% -54.55% -309.92%
% of Operating Profit
Other Income/Expense, Net $256.1K $2.584M
YoY Change -88.75% -167.66%
Pretax Income -$641.1K $1.653M -$290.8K
YoY Change -137.57% -138.2% -79.95%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$641.1K $1.653M -$290.8K
YoY Change -137.57% -138.2% -79.95%
Net Earnings / Revenue -13159.48% 29151.39% -4987.31%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$1.145K
COMMON SHARES
Basic Shares Outstanding 482.9M shares 371.5M shares 258.5M shares
Diluted Shares Outstanding 489.7M shares 4.021B shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.16K $16.30K $68.37K
YoY Change -68.58% -75.74% 267.38%
Cash & Equivalents $23.16K $16.30K $68.37K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $23.16K $16.30K $68.37K
YoY Change -68.57% -76.15% 267.46%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $2.096M $2.096M $2.096M
YoY Change 0.0% 0.0%
Intangibles $6.500K $7.000K $8.000K
YoY Change -23.53% -22.22%
Long-Term Investments
YoY Change
Other Assets $500.00 $500.00
YoY Change
Total Long-Term Assets $7.000K $7.500K $8.000K
YoY Change -99.67% -99.64%
TOTAL ASSETS
Total Short-Term Assets $23.16K $16.30K $68.37K
Total Long-Term Assets $7.000K $7.500K $8.000K
Total Assets $30.16K $23.80K $76.37K
YoY Change -98.62% -98.9% 310.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $133.2K $150.6K $127.1K
YoY Change -3.59% 2.36% -24.79%
Accrued Expenses $57.00K $57.74K $62.23K
YoY Change -7.15% -1.59% -92.45%
Deferred Revenue
YoY Change
Short-Term Debt $88.10K $136.2K $191.3K
YoY Change -19.49% -92.64%
Long-Term Debt Due $24.01K $48.07K $62.76K
YoY Change -87.84%
Total Short-Term Liabilities $2.141M $2.581M $6.336M
YoY Change -55.99% -64.35% -57.63%
LONG-TERM LIABILITIES
Long-Term Debt $348.9K $298.5K $199.3K
YoY Change -49.27% -55.63%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $348.9K $298.5K $199.3K
YoY Change -49.27% -55.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.141M $2.581M $6.336M
Total Long-Term Liabilities $348.9K $298.5K $199.3K
Total Liabilities $2.490M $2.880M $6.535M
YoY Change -55.16% -63.61% -56.3%
SHAREHOLDERS EQUITY
Retained Earnings -$49.75M -$49.11M -$51.13M
YoY Change -2.15% -6.55% 34.52%
Common Stock $525.7K $439.2K $276.4K
YoY Change 140.3% 138.36% 107.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.774M -$8.035M -$11.44M
YoY Change
Total Liabilities & Shareholders Equity $30.16K $23.80K $76.37K
YoY Change -98.62% -98.9% 310.46%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$641.1K $1.653M -$290.8K
YoY Change -137.57% -138.2% -79.95%
Depreciation, Depletion And Amortization $500.00 $500.00 $500.00
YoY Change 0.0% 0.0% 354.55%
Cash From Operating Activities -$163.1K -$170.2K -$125.3K
YoY Change 32.12% 32.01% 59.61%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 170.0K 114.6K 120.0K
YoY Change 30.77% -0.34% 95.12%
NET CHANGE
Cash From Operating Activities -163.1K -170.2K -125.3K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 170.0K 114.6K 120.0K
Net Change In Cash 6.860K -55.60K -5.340K
YoY Change 5.21% 298.85% -68.64%
FREE CASH FLOW
Cash From Operating Activities -$163.1K -$170.2K -$125.3K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-size:10pt;font-family:times new roman;margin:0px">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements include the estimate of useful lives of property and equipment and intangible assets, operating lease obligations, impairment of assets, the deferred tax valuation allowance, the fair value of stock options and derivative liabilities. Actual results could differ from those estimates.</p>
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<p style="font-size:10pt;font-family:times new roman;margin:0px">During the three months and six months ended June 30, 2022 and 2021, the Company received payments from two cell phone carriers, with one carrier representing substantially all payments. </p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">During the three months and six months ended June 30, 2022 and 2021, the Company had one landlord receiving all Company payments for lease of billboard site locations.</p>
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CY2021Q3 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
dloc Conversion Of Stock Shares Converted Notes Payable
ConversionOfStockSharesConvertedNotesPayable
196946452 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4021145995 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174373718 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3986761492 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165324147 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;font-family:times new roman;margin:0px">Certain amounts in the condensed consolidated financial statements for the prior year periods have been reclassified to conform to the presentation for the current year periods.</p>
CY2021Q1 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
10000 usd
CY2021Q1 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
1000000 usd
CY2022Q2 dloc Ip Technology
IpTechnology
4000 usd
CY2022Q2 dloc Customer Base
CustomerBase
6000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
2096089 usd
CY2022Q2 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
2106089 usd
CY2019Q3 dloc Proceeds From Convertible Promissory Notes
ProceedsFromConvertiblePromissoryNotes
22000 usd
CY2019Q3 us-gaap Legal Fees
LegalFees
1500 usd
CY2021Q3 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2021Q4 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2022Q1 dloc Stock Option Amount
StockOptionAmount
545462 usd
CY2022Q1 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
752097 usd
CY2021Q4 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2021Q4 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2022Q1 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2022Q1 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2022Q2 us-gaap Debt Instrument Convertible Terms Of Conversion Feature
DebtInstrumentConvertibleTermsOfConversionFeature
The lender, at its option after 180 days from the issuance of the note, may convert the unpaid principal balance of, and accrued interest on, the note into shares of the Company’s common stock at a 45% discount from the lowest trading price during the 20 trading days prior to conversion. The Company may prepay the note during the 180 days from the issuance of the note at a redemption premium of 150%. After the expiration of 180 days after issuance, the Company has no right of prepayment.
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
439243662 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
276383093 shares
dloc Outstanding Shares Ending
OutstandingSharesEnding
854177778 shares
CY2022Q1 dloc Non Qualified Stock Options Total
NonQualifiedStockOptionsTotal
75000000 shares
CY2022Q1 dloc Non Qualified Stock Options Consultant
NonQualifiedStockOptionsConsultant
45000000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.0081
CY2022Q1 dloc Vesting Period Descriptions
VestingPeriodDescriptions
These options vest 1/36th per month over thirty-six months.
CY2021Q1 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
353891 usd
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
1489012 usd
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
804649 usd
CY2022Q2 dloc Unrecognized Stock Based Compensation
UnrecognizedStockBasedCompensation
5699700 usd
dloc Outstanding Shares Beginning
OutstandingSharesBeginning
734177778 shares
dloc Weighted Average Exercise Price Beginning
WeightedAverageExercisePriceBeginning
0.012
dloc Outstanding Weighted Average Remaining Contract Term Beggining
OutstandingWeightedAverageRemainingContractTermBeggining
P8Y21D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
120000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.008
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
dloc Outstanding Shares Ending
OutstandingSharesEnding
854177778 shares
dloc Weighted Average Exercise Price Ending
WeightedAverageExercisePriceEnding
0.011
dloc Outstanding Weighted Average Remaining Contract Term Ending
OutstandingWeightedAverageRemainingContractTermEnding
P7Y10M6D
dloc Sharebased Compensation Arrangement By Sharebased Payment S Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentSAwardOptionsExercisableIntrinsicValue1
0 usd
dloc Outstanding Shares Exercisable
OutstandingSharesExercisable
237413915 shares
dloc Weighted Average Exercise Price Exercisable
WeightedAverageExercisePriceExercisable
0.015
dloc Outstanding Weighted Average Remaining Contract Term Exercisable
OutstandingWeightedAverageRemainingContractTermExercisable
P6Y4M13D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 usd
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
Monthly
CY2022Q2 us-gaap Share Price
SharePrice
0.0018
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2216843 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
5925214 usd
CY2017Q3 dloc Rent Per Month
RentPerMonth
1000 usd
CY2022Q1 dloc Lease Agreemenr Term
leaseAgreemenrTerm
P12Y
CY2022Q1 us-gaap Security Deposit
SecurityDeposit
500 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
500 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2500 usd
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6500 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6000 usd

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