2024 Q1 Form 10-K Financial Statement

#000149315224011984 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $9.470K $25.85K
YoY Change 41.98% 12.06%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $836.6K $985.2K $3.958M
YoY Change -10.8% 11.57% 8.25%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $500.00 $500.00 $2.000K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $837.1K $985.7K $3.960M
YoY Change -10.79% 11.57% 8.24%
Operating Profit -$837.1K -$3.934M
YoY Change -10.32% 8.22%
Interest Expense $1.449M -$1.316M -$788.8K
YoY Change 1809.7% -385.15% -254.78%
% of Operating Profit
Other Income/Expense, Net -$5.918M -$788.8K
YoY Change -625.13% -117.13%
Pretax Income -$6.755M -$2.292M -$4.723M
YoY Change -3588.47% 451.89% -587.42%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.755M -$2.292M -$4.723M
YoY Change -3588.47% 451.89% -587.42%
Net Earnings / Revenue -24204.65% -18271.53%
Basic Earnings Per Share -$0.01 -$0.01
Diluted Earnings Per Share -$0.01 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 733.8M shares 733.8M shares 708.7M shares
Diluted Shares Outstanding 733.8M shares 708.7M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.36K $44.10K $44.10K
YoY Change 115.55% 41.76% 41.76%
Cash & Equivalents $49.36K $44.10K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $49.36K $44.10K $44.10K
YoY Change 115.54% 41.74% 41.76%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $3.500K $4.000K
YoY Change -36.36% -33.33%
Long-Term Investments
YoY Change
Other Assets $500.00 $500.00 $500.00
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $4.000K $4.500K $4.500K
YoY Change -33.33% -30.77% -30.77%
TOTAL ASSETS
Total Short-Term Assets $49.36K $44.10K $44.10K
Total Long-Term Assets $4.000K $4.500K $4.500K
Total Assets $53.36K $48.60K $48.60K
YoY Change 84.63% 29.21% 29.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $133.0K $124.3K $124.3K
YoY Change 8.96% 9.85% 0.93%
Accrued Expenses $101.5K $79.59K $79.59K
YoY Change 78.5% 39.78% 39.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $528.9K $287.5K $287.5K
YoY Change 500.35% 176.38% 176.38%
Total Short-Term Liabilities $9.009M $2.658M $2.658M
YoY Change 3152.56% 75.09% 75.09%
LONG-TERM LIABILITIES
Long-Term Debt $649.0K $599.1K $599.1K
YoY Change 44.69% 50.07% 50.07%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $649.0K $599.1K $599.1K
YoY Change 44.69% 50.07% 50.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.009M $2.658M $2.658M
Total Long-Term Liabilities $649.0K $599.1K $599.1K
Total Liabilities $9.658M $3.257M $3.257M
YoY Change 1231.24% 69.88% 69.88%
SHAREHOLDERS EQUITY
Retained Earnings -$61.64M -$54.89M
YoY Change 23.36% 9.42%
Common Stock $733.8K $733.8K
YoY Change 0.0% 21.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$15.53M -$3.208M -$3.208M
YoY Change
Total Liabilities & Shareholders Equity $53.36K $48.60K $48.60K
YoY Change 84.63% 29.21% 29.22%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$6.755M -$2.292M -$4.723M
YoY Change -3588.47% 451.89% -587.42%
Depreciation, Depletion And Amortization $500.00 $500.00 $2.000K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$469.7K -$346.2K -$1.054M
YoY Change 160.66% 113.64% 58.17%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $440.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $475.0K 357.0K 1.067M
YoY Change 176.16% 110.0% 69.47%
NET CHANGE
Cash From Operating Activities -$469.7K -346.2K -1.054M
Cash From Investing Activities
Cash From Financing Activities $475.0K 357.0K 1.067M
Net Change In Cash $5.256K 10.79K 12.99K
YoY Change -164.0% 35.72% -134.87%
FREE CASH FLOW
Cash From Operating Activities -$469.7K -$346.2K -$1.054M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q4 us-gaap Cash Fdic Insured Amount
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250000 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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708657045 shares
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433143911 shares
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247997718 shares
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4337208296 shares
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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22100 usd
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2000000000 shares
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20000000 shares
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22100 usd
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20000 usd
CY2022Q1 DLOC Vesting Period Descriptions
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These options vest 1/36th per month over thirty-six months.
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545462 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
634000000 shares
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10670 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
30000 usd
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
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854177778 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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684000000 shares
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634000000 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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904177778 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M3D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
136800 usd
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666566659 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
92528 usd
CY2023Q4 DLOC Sharebased Compensation Arrangement By Sharebased Payment Award Options Intrinsic Value Price Share
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0.001
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5925214 usd
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680474 usd
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5108229 usd
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1233679 usd
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1159946 usd
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CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
196755 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2166112 usd
CY2023 us-gaap Stock Option Exercise Price Decrease
StockOptionExercisePriceDecrease
0.0006
CY2023 us-gaap Stock Option Exercise Price Decrease
StockOptionExercisePriceDecrease
0.0006
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.29 pure
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1369700 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
281000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-200 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-200 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1113000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1007400 usd
CY2023 DLOC Non Taxable Gains Loss
NonTaxableGainsLoss
-57100 usd
CY2022 DLOC Non Taxable Gains Loss
NonTaxableGainsLoss
1483900 usd
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IncomeTaxReconciliationNondeductibleExpenseOther
-223400 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
600 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
423200 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
195100 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5087300 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4901900 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
375300 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
125300 usd
CY2022Q4 DLOC Deferred Tax Assets Related Party Accrued Expenses
DeferredTaxAssetsRelatedPartyAccruedExpenses
11600 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
600 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5462600 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5039400 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5462600 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
18611000 usd
CY2022Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P12M
CY2023 us-gaap Lessor Operating Lease Option To Extend
LessorOperatingLeaseOptionToExtend
On January 1, 2024 we further extended the lease arrangement for another twelve-month term
CY2022Q1 us-gaap Security Deposit
SecurityDeposit
500 usd
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
500 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
7440 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
9413 usd

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