$DREM
Dream Homes & Development Corp.

2022 Q3 Form 10-Q Financial Statement

#000149315222023704 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $4.192M $1.082M $995.2K
YoY Change 359.9% -26.84% 46.54%
Cost Of Revenue $3.065M $828.1K $584.9K
YoY Change 310.35% -33.06% 13.68%
Gross Profit $1.128M $254.1K $410.3K
YoY Change 584.43% 4.95% 149.2%
Gross Profit Margin 26.9% 23.48% 41.23%
Selling, General & Admin $359.6K $192.1K $216.0K
YoY Change 25.42% 3.78% -20.56%
% of Gross Profit 31.88% 75.59% 52.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $261.00 $1.698K $1.690K
YoY Change -84.56% 0.53% 0.0%
% of Gross Profit 0.02% 0.67% 0.41%
Operating Expenses $359.8K $193.8K $217.7K
YoY Change 24.78% 3.75% -20.43%
Operating Profit $767.9K $60.34K $192.6K
YoY Change -721.24% 8.97% -276.79%
Interest Expense $27.26K $31.33K -$27.42K
YoY Change -166.85% 161.08% 193.58%
% of Operating Profit 3.55% 51.92% -14.23%
Other Income/Expense, Net $24.10K -$31.33K -$27.42K
YoY Change -159.09% 161.08%
Pretax Income $792.0K $29.01K $165.2K
YoY Change -581.79% -33.11% -239.65%
Income Tax
% Of Pretax Income
Net Earnings $792.0K $29.01K $165.2K
YoY Change -581.79% -33.11% -239.65%
Net Earnings / Revenue 18.89% 2.68% 16.6%
Basic Earnings Per Share $0.02 $0.00 $0.00
Diluted Earnings Per Share $22.11K $809.80 $4.612K
COMMON SHARES
Basic Shares Outstanding 35.82M shares 35.82M shares 35.82M shares
Diluted Shares Outstanding 35.82M shares 35.82M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $427.8K $121.8K $127.5K
YoY Change 163.05% -62.04% -63.6%
Cash & Equivalents $427.8K $121.8K $127.5K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Inventory
Prepaid Expenses
Receivables $654.7K $318.9K $573.9K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.607M $1.072M $701.4K
YoY Change 107.35% 4.53% -22.82%
LONG-TERM ASSETS
Property, Plant & Equipment $32.67K $19.72K $15.61K
YoY Change 76.69% -4.64% -30.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.318M $7.881M $7.802M
YoY Change -15.05% 21.56% 1096.7%
Total Long-Term Assets $6.383M $7.932M $7.850M
YoY Change -14.76% 21.38% 1011.34%
TOTAL ASSETS
Total Short-Term Assets $1.607M $1.072M $701.4K
Total Long-Term Assets $6.383M $7.932M $7.850M
Total Assets $7.991M $9.005M $8.551M
YoY Change -3.31% 19.09% 429.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $695.5K $463.2K $395.1K
YoY Change -2.82% -6.61% 65.81%
Accrued Expenses $200.4K $173.1K $145.8K
YoY Change 166.35% 402.58% 549.55%
Deferred Revenue $196.2K $333.4K
YoY Change
Short-Term Debt $2.009M $3.894M $3.806M
YoY Change -40.96% 9.15% 1940.11%
Long-Term Debt Due $908.7K $911.2K $913.2K
YoY Change 1.74% 2.02% 145.37%
Total Short-Term Liabilities $4.435M $5.791M $5.450M
YoY Change -17.3% 9.41% 388.66%
LONG-TERM LIABILITIES
Long-Term Debt $2.084M $2.534M $2.451M
YoY Change -16.89% 46.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.084M $2.534M $2.451M
YoY Change -16.89% 46.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.435M $5.791M $5.450M
Total Long-Term Liabilities $2.084M $2.534M $2.451M
Total Liabilities $6.520M $8.326M $7.902M
YoY Change -17.17% 18.63% 608.42%
SHAREHOLDERS EQUITY
Retained Earnings -$805.0K -$1.597M
YoY Change
Common Stock $35.82K $35.82K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.471M $679.0K $650.0K
YoY Change
Total Liabilities & Shareholders Equity $7.991M $9.005M $8.551M
YoY Change -3.31% 19.09% 429.44%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $792.0K $29.01K $165.2K
YoY Change -581.79% -33.11% -239.65%
Depreciation, Depletion And Amortization $261.00 $1.698K $1.690K
YoY Change -84.56% 0.53% 0.0%
Cash From Operating Activities $685.5K -$91.27K $50.48K
YoY Change 285.53% -154.29% -30.54%
INVESTING ACTIVITIES
Capital Expenditures $596.2K -$83.96K -$531.2K
YoY Change -145.79%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $596.2K -$83.96K -$531.2K
YoY Change -145.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -975.7K 169.6K 416.8K
YoY Change -201.02% -185.91% 87.75%
NET CHANGE
Cash From Operating Activities 685.5K -91.27K 50.48K
Cash From Investing Activities 596.2K -83.96K -531.2K
Cash From Financing Activities -975.7K 169.6K 416.8K
Net Change In Cash 305.9K -5.660K -63.94K
YoY Change -293.2% -80.64%
FREE CASH FLOW
Cash From Operating Activities $685.5K -$91.27K $50.48K
Capital Expenditures $596.2K -$83.96K -$531.2K
Free Cash Flow $89.31K -$7.310K $581.7K
YoY Change -93.96% -104.35% 700.36%

Facts In Submission

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IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-40788 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
240814 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
5790 usd
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
609391 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-615181 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-18572 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
643000 usd
DREM Payments On Acquisition Of Property Held For Development
PaymentsOnAcquisitionOfPropertyHeldForDevelopment
943943 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
31028 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
15500 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
491462 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
20845 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
82456 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
289224 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
586374 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24626 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-69595 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
265440 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
191439 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
55519 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
121844 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
320959 usd
DREM Stock Issued During Period Share Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodShareRestrictedStockAwardNetOfForfeitures
2830000 shares
us-gaap Stock Issued1
StockIssued1
113200 usd
DREM Mortgages Payable For Acquisition Of Property Held For Development
MortgagesPayableForAcquisitionOfPropertyHeldForDevelopment
4963563 usd
CY2009Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
75000000 shares
CY2009Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000 shares
CY2009Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2009Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2009Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q2 DREM Other Deposits Net
OtherDepositsNet
6065000 usd
CY2021Q4 DREM Other Deposits Net
OtherDepositsNet
5689265 usd
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zvO9I2lhkSDg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_863_zwtagFFF8559">Use of Estimates</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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 amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 DREM Deposits And Costs Coincident To Acquisition Of Land For Development
DepositsAndCostsCoincidentToAcquisitionOfLandForDevelopment
7878445 usd
CY2021Q4 DREM Deposits And Costs Coincident To Acquisition Of Land For Development
DepositsAndCostsCoincidentToAcquisitionOfLandForDevelopment
7269054 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
49267 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
45880 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19720 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17300 usd
us-gaap Depreciation
Depreciation
3387 usd
us-gaap Depreciation
Depreciation
3378 usd
CY2022Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
5504008 usd
CY2021Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
5477535 usd
CY2022Q2 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
2969535 usd
CY2021Q4 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
2969535 usd
CY2022Q2 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
2534473 usd
CY2021Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
2508000 usd
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
274895 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
192439 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.12 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
911160 usd

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