2022 Q4 Form 10-Q Financial Statement

#000149315222033036 Filed on November 21, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $41.20K $4.192M $911.6K
YoY Change -94.95% 359.9% 3.69%
Cost Of Revenue $753.7K $3.065M $746.8K
YoY Change 23.79% 310.35% 140.57%
Gross Profit -$712.5K $1.128M $164.8K
YoY Change -445.51% 584.43% -71.03%
Gross Profit Margin -1729.3% 26.9% 18.08%
Selling, General & Admin $104.1K $359.6K $286.7K
YoY Change 38.82% 25.42% -31.29%
% of Gross Profit 31.88% 173.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization -$1.240K $261.00 $1.690K
YoY Change -173.37% -84.56% 1.2%
% of Gross Profit 0.02% 1.03%
Operating Expenses $102.9K $359.8K $288.4K
YoY Change 34.13% 24.78% -31.16%
Operating Profit -$815.4K $767.9K -$123.6K
YoY Change -729.62% -721.24% -182.52%
Interest Expense -$16.78K $27.26K -$40.78K
YoY Change -72.34% -166.85% 698.04%
% of Operating Profit 3.55%
Other Income/Expense, Net $24.10K -$40.78K
YoY Change -159.09%
Pretax Income -$832.1K $792.0K -$164.4K
YoY Change -1308.8% -581.79% -213.63%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$832.1K $792.0K -$164.4K
YoY Change -1308.8% -581.79% -354.75%
Net Earnings / Revenue -2019.76% 18.89% -18.03%
Basic Earnings Per Share $0.02 $0.00
Diluted Earnings Per Share -$0.02 $22.11K -$4.733K
COMMON SHARES
Basic Shares Outstanding 35.82M shares 35.82M shares 34.74M shares
Diluted Shares Outstanding 35.82M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $525.4K $427.8K $162.6K
YoY Change 174.44% 163.05% -4.86%
Cash & Equivalents $525.4K $427.8K $162.6K
Short-Term Investments
Other Short-Term Assets $0.00 $2.710K
YoY Change -100.0% 8.4%
Inventory
Prepaid Expenses
Receivables $213.0K $654.7K $498.5K
Other Receivables $0.00 $0.00 $111.4K
Total Short-Term Assets $995.0K $1.607M $775.2K
YoY Change 22.8% 107.35% -27.52%
LONG-TERM ASSETS
Property, Plant & Equipment $6.216K $32.67K $18.49K
YoY Change -64.07% 76.69% -61.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.181M $6.318M $7.438M
YoY Change -14.99% -15.05% 1030.83%
Total Long-Term Assets $6.188M $6.383M $7.489M
YoY Change -15.48% -14.76% 914.87%
TOTAL ASSETS
Total Short-Term Assets $995.0K $1.607M $775.2K
Total Long-Term Assets $6.188M $6.383M $7.489M
Total Assets $7.182M $7.991M $8.264M
YoY Change -11.66% -3.31% 357.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $644.9K $695.5K $715.7K
YoY Change 88.19% -2.82% 29.66%
Accrued Expenses $227.3K $200.4K $75.22K
YoY Change 89.31% 166.35% 128.56%
Deferred Revenue $256.8K $196.2K
YoY Change -37.92%
Short-Term Debt $3.861M $2.009M $3.404M
YoY Change 16.28% -40.96% 3694.85%
Long-Term Debt Due $908.7K $908.7K $893.2K
YoY Change -1.78% 1.74% 349.59%
Total Short-Term Liabilities $5.909M $4.435M $5.363M
YoY Change 15.0% -17.3% 385.53%
LONG-TERM LIABILITIES
Long-Term Debt $635.0K $2.084M $2.508M
YoY Change -74.68% -16.89%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $635.0K $2.084M $2.508M
YoY Change -74.68% -16.89% 24249.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.909M $4.435M $5.363M
Total Long-Term Liabilities $635.0K $2.084M $2.508M
Total Liabilities $6.544M $6.520M $7.871M
YoY Change -14.42% -17.17% 606.01%
SHAREHOLDERS EQUITY
Retained Earnings -$1.637M -$805.0K
YoY Change -8.6%
Common Stock $35.82K $35.82K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $638.8K $1.471M $392.8K
YoY Change
Total Liabilities & Shareholders Equity $7.182M $7.991M $8.264M
YoY Change -11.66% -3.31% 357.2%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$832.1K $792.0K -$164.4K
YoY Change -1308.8% -581.79% -354.75%
Depreciation, Depletion And Amortization -$1.240K $261.00 $1.690K
YoY Change -173.37% -84.56% 1.2%
Cash From Operating Activities -$48.31K $685.5K $177.8K
YoY Change -89.42% 285.53% -213.36%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $596.2K -$1.302M
YoY Change -100.0% -145.79% 1565.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $596.2K -$1.302M
YoY Change -100.0% -145.79% 1565.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 145.9K -975.7K 965.9K
YoY Change -385.82% -201.02% 610.77%
NET CHANGE
Cash From Operating Activities -48.31K 685.5K 177.8K
Cash From Investing Activities 0.000 596.2K -1.302M
Cash From Financing Activities 145.9K -975.7K 965.9K
Net Change In Cash 97.63K 305.9K -158.3K
YoY Change 199.2% -293.2% 59.7%
FREE CASH FLOW
Cash From Operating Activities -$48.31K $685.5K $177.8K
Capital Expenditures $0.00 $596.2K -$1.302M
Free Cash Flow -$48.31K $89.31K $1.480M
YoY Change -95.15% -93.96% -1981.27%

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NetIncomeLoss
-239313 usd
us-gaap Depreciation
Depreciation
3648 usd
us-gaap Depreciation
Depreciation
5067 usd
DREM Sale Of Property Held For Development
SaleOfPropertyHeldForDevelopment
130034 usd
us-gaap Share Based Compensation
ShareBasedCompensation
127200 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
297250 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-24521 usd
us-gaap Increase Decrease In Due From Employee Current
IncreaseDecreaseInDueFromEmployeeCurrent
-2705 usd
us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
25000 usd
us-gaap Increase Decrease In Notes Receivable Related Parties
IncreaseDecreaseInNotesReceivableRelatedParties
-16004 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
266380 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
147163 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
352799 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
383400 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
80275 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
62114 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-217346 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
81750 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
644682 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
418614 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
19018 usd
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
1302014 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19018 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1302014 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-16500 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
643000 usd
DREM Payments On Acquisition Of Property Held For Development
PaymentsOnAcquisitionOfPropertyHeldForDevelopment
591286 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
6670 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
207350 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
134500 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-51356 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-82895 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
62456 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
289224 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-389336 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
990499 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
236328 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
107099 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
427767 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
162618 usd
DREM Stock Issued During Period Share Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodShareRestrictedStockAwardNetOfForfeitures
2830000 shares
us-gaap Stock Issued1
StockIssued1
113200 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
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zTWctmV2Kps5" 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><span style="text-decoration: underline"><span id="xdx_862_zeMYFInxx0Mc">Use of Estimates</span></span></b></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 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
5477535 usd
CY2022Q3 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
1388563 usd
CY2021Q4 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
2969535 usd
CY2022Q3 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
2084472 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33217 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
45880 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32670 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17300 usd
us-gaap Depreciation
Depreciation
3648 usd
us-gaap Depreciation
Depreciation
5067 usd
CY2022Q3 DREM Deposits And Acquisition Costs
DepositsAndAcquisitionCosts
1813445 usd
CY2021Q4 DREM Deposits And Acquisition Costs
DepositsAndAcquisitionCosts
1579789 usd
CY2022Q3 DREM Construction And Other Costs For Development
ConstructionAndOtherCostsForDevelopment
4502750 usd
CY2021Q4 DREM Construction And Other Costs For Development
ConstructionAndOtherCostsForDevelopment
5689265 usd
CY2022Q3 DREM Deposits And Costs Coincident To Acquisition Of Land For Development
DepositsAndCostsCoincidentToAcquisitionOfLandForDevelopment
6316195 usd
CY2021Q4 DREM Deposits And Costs Coincident To Acquisition Of Land For Development
DepositsAndCostsCoincidentToAcquisitionOfLandForDevelopment
7269054 usd
CY2022Q3 us-gaap Loans Payable To Bank
LoansPayableToBank
3473035 usd
CY2021Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
2508000 usd
CY2022Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
254895 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
192439 usd
CY2022Q3 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
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
908660 usd

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