2023 Q2 Form 10-Q Financial Statement

#000147793223003273 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $8.008K $4.972K
YoY Change 41.18% -15.07%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.075M $937.9K
YoY Change 14.86% 0.19%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $500.00 $500.00
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $1.076M $938.4K
YoY Change 14.85% 0.19%
Operating Profit -$1.068M -$933.4K
YoY Change 14.69% 0.28%
Interest Expense $53.13K $75.88K
YoY Change -66.51% -49.68%
% of Operating Profit
Other Income/Expense, Net -$200.4K $1.127M
YoY Change -107.76% -13.49%
Pretax Income -$1.268M $193.7K
YoY Change -176.69% -47.94%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$1.268M $193.7K
YoY Change -176.69% -47.94%
Net Earnings / Revenue -15834.07% 3894.85%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 733.8M shares 665.7M shares
Diluted Shares Outstanding 733.8M shares 4.550B shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.26K $22.90K
YoY Change -37.06% -68.15%
Cash & Equivalents $10.26K $22.90K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $10.26K $22.90K
YoY Change -37.07% -68.15%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $5.000K $5.500K
YoY Change -28.57%
Long-Term Investments
YoY Change
Other Assets $500.00 $500.00
YoY Change 0.0% 0.0%
Total Long-Term Assets $5.500K $6.000K
YoY Change -26.67% -25.0%
TOTAL ASSETS
Total Short-Term Assets $10.26K $22.90K
Total Long-Term Assets $5.500K $6.000K
Total Assets $15.76K $28.90K
YoY Change -33.79% -63.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $122.2K $122.1K
YoY Change -18.86% -23.83%
Accrued Expenses $58.24K $56.84K
YoY Change 0.87% -13.7%
Deferred Revenue
YoY Change
Short-Term Debt $135.0K $0.00
YoY Change -0.86%
Long-Term Debt Due $88.10K $88.10K
YoY Change 83.27% -51.81%
Total Short-Term Liabilities $550.9K $277.0K
YoY Change -78.66% -94.9%
LONG-TERM LIABILITIES
Long-Term Debt $498.4K $448.5K
YoY Change 66.97% 80.4%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $498.4K $448.5K
YoY Change 66.97% 80.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $550.9K $277.0K
Total Long-Term Liabilities $498.4K $448.5K
Total Liabilities $1.049M $725.5K
YoY Change -63.57% -87.22%
SHAREHOLDERS EQUITY
Retained Earnings -$51.24M -$49.97M
YoY Change 4.34%
Common Stock $733.8K $733.8K
YoY Change 67.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.880M -$6.353M
YoY Change
Total Liabilities & Shareholders Equity $15.76K $28.90K
YoY Change -33.79% -63.83%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$1.268M $193.7K
YoY Change -176.69% -47.94%
Depreciation, Depletion And Amortization $500.00 $500.00
YoY Change 0.0% 0.0%
Cash From Operating Activities -$337.7K -$180.2K
YoY Change 98.37% 5.41%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $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 325.0K $172.0K
YoY Change 183.57% -1.71%
NET CHANGE
Cash From Operating Activities -337.7K -$180.2K
Cash From Investing Activities 0.000 $0.00
Cash From Financing Activities 325.0K $172.0K
Net Change In Cash -12.65K -$8.212K
YoY Change -77.25% -331.72%
FREE CASH FLOW
Cash From Operating Activities -$337.7K -$180.2K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q1 dloc Common Shares Issued In Conversion Of Series B Preferred Stock
CommonSharesIssuedInConversionOfSeriesBPreferredStock
22100 usd
CY2023Q1 dloc Derivative Liability For Consultant Stock Options
DerivativeLiabilityForConsultantStockOptions
0 usd
CY2022Q1 dloc Derivative Liability For Consultant Stock Options
DerivativeLiabilityForConsultantStockOptions
545462 usd
CY2023Q1 dloc Working Capital Deficit
WorkingCapitalDeficit
-254093 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-49970898 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<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>
CY2023Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1233679 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1233679 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1233679 usd
CY2023Q1 dloc Addition To Liability For New Issuances
AdditionToLiabilityForNewIssuances
0 usd
CY2023Q1 dloc Elimination Of Liabilities In Debt Conversions
EliminationOfLiabilitiesInDebtConversions
-30758 usd
CY2023Q1 dloc Change In Fair Value
ChangeInFairValue
-1202921 usd
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
0 usd
CY2023Q1 dloc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValueExercised
0
CY2023Q1 dloc Concentrations Of Credit Risk And Major Customers Policy Textblock
ConcentrationsOfCreditRiskAndMajorCustomersPolicyTextblock
<p style="font-size:10pt;font-family:times new roman;margin:0px">During the three months ended March 31, 2023 and 2022, 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 ended March 31, 2023 and 2022, the Company had one landlord receiving all Company payments for lease of billboard site locations.</p>
CY2023Q1 dloc Weighted Average Numbers Of Shares Outstanding Basic
WeightedAverageNumbersOfSharesOutstandingBasic
631933083 shares
CY2022Q1 dloc Weighted Average Numbers Of Shares Outstanding Basic
WeightedAverageNumbersOfSharesOutstandingBasic
302315155 shares
CY2023Q1 dloc Series B Preferred Stock
SeriesBPreferredStock
949400000 shares
CY2022Q1 dloc Series B Preferred Stock
SeriesBPreferredStock
949400000 shares
CY2023Q1 dloc Series E Preferred Stock
SeriesEPreferredStock
2821333333 shares
CY2022Q1 dloc Series E Preferred Stock
SeriesEPreferredStock
2440000000 shares
CY2023Q1 dloc Conversion Of Stock Shares Converted Notes Payable
ConversionOfStockSharesConvertedNotesPayable
147729750 shares
CY2022Q1 dloc Conversion Of Stock Shares Converted Notes Payable
ConversionOfStockSharesConvertedNotesPayable
160755907 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4550396166 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3852471062 shares
CY2023Q1 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>
CY2022Q3 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
CY2023Q1 dloc Debt Instrument Accrued Interest
DebtInstrumentAccruedInterest
53616 usd
CY2022Q4 dloc Debt Instrument Accrued Interest
DebtInstrumentAccruedInterest
53212 usd
CY2022Q1 dloc Issuance Of Common Stock For Conversion Of Series B Preferred Stock Shares
IssuanceOfCommonStockForConversionOfSeriesBPreferredStockShares
221 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2000000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
733766705 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
604150321 shares
CY2023Q1 dloc Outstanding Shares Ending
OutstandingSharesEnding
854177778 shares
CY2023Q1 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
745448 usd
CY2022Q1 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
736915 usd
CY2023Q1 dloc Unrecognized Stock Based Compensation
UnrecognizedStockBasedCompensation
3456718 usd
CY2023Q1 dloc Outstanding Shares Beginning
OutstandingSharesBeginning
854177778 shares
CY2023Q1 dloc Weighted Average Exercise Price Beginning
WeightedAverageExercisePriceBeginning
0.011
CY2023Q1 dloc Outstanding Weighted Average Remaining Contract Term Beginning
OutstandingWeightedAverageRemainingContractTermBeginning
P7Y4M6D
CY2023Q1 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
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2023Q1 dloc Outstanding Shares Ending
OutstandingSharesEnding
854177778 shares
CY2023Q1 dloc Weighted Average Exercise Price Ending
WeightedAverageExercisePriceEnding
0.011
CY2023Q1 dloc Outstanding Weighted Average Remaining Contract Term Ending
OutstandingWeightedAverageRemainingContractTermEnding
P7Y1M6D
CY2023Q1 dloc Sharebased Compensation Arrangement By Sharebase Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasePaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2023Q1 dloc Outstanding Shares Exercisable
OutstandingSharesExercisable
450288898 shares
CY2023Q1 dloc Weighted Average Exercise Price Exercisable
WeightedAverageExercisePriceExercisable
0.013
CY2023Q1 dloc Outstanding Weighted Average Remaining Contract Term Exercisable
OutstandingWeightedAverageRemainingContractTermExercisable
P6Y3M29D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 usd
CY2023Q1 dloc Common Stock Closing Price
CommonStockClosingPrice
0.0006
CY2023Q1 dloc Non Qualified Stock Options
NonQualifiedStockOptions
504000000 shares
CY2023Q1 dloc Vesting Period Descriptions
VestingPeriodDescriptions
The options vest over a 36-month period with 84,000,000 options vesting at the end of month 6 and 14,000,000 options vesting in months 7 through the end of month 36. The options vest 100% upon a sale of the company
CY2022Q1 dloc Operating Lease Agreement
OperatingLeaseAgreement
P12Y
CY2022Q1 us-gaap Security Deposit
SecurityDeposit
500 usd
CY2022Q1 dloc Rent Paid Per Month
RentPaidPerMonth
500 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1860 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
4000 usd

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0001477932-23-003273.txt Edgar Link pending
0001477932-23-003273-xbrl.zip Edgar Link pending
dloc-20230331.xsd Edgar Link pending
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