2023 Q2 Form 10-Q Financial Statement

#000107997323000826 Filed on June 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $523.8K $485.8K $443.1K
YoY Change 20.34% 9.63% 45.05%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.85K $19.40K $870.00
YoY Change 461.22% 2130.11%
% of Gross Profit
Operating Expenses $545.6K $505.2K $443.1K
YoY Change 25.36% 14.01% 45.05%
Operating Profit -$545.6K -$505.2K -$443.1K
YoY Change 25.36% 14.01%
Interest Expense $46.42K $47.67K $119.2K
YoY Change 3566.82% -60.01% -192.71%
% of Operating Profit
Other Income/Expense, Net -$72.98K -$204.8K -$34.81K
YoY Change -26.19% 488.47%
Pretax Income -$618.6K -$710.0K -$358.7K
YoY Change 15.82% 97.94% -17.36%
Income Tax $925.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$619.5K -$710.0K -$358.7K
YoY Change 15.99% 97.94% -17.36%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00 -$2.400K
COMMON SHARES
Basic Shares Outstanding 213.2M shares 195.6M shares
Diluted Shares Outstanding 203.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.77K $144.4K $412.1K
YoY Change -41.52% -64.95% 291.46%
Cash & Equivalents $33.77K $144.4K $412.1K
Short-Term Investments
Other Short-Term Assets $127.6K $126.8K $183.4K
YoY Change -36.6% -30.84% -58.05%
Inventory $470.0K $467.5K $446.0K
Prepaid Expenses $109.2K $110.1K
Receivables $52.76K $52.76K $55.11K
Other Receivables $173.4K $173.9K $94.16K
Total Short-Term Assets $857.4K $965.5K $1.191M
YoY Change -3.14% -18.91% 100.06%
LONG-TERM ASSETS
Property, Plant & Equipment $346.9K $265.9K $76.38K
YoY Change 355.05% 248.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $371.6K $305.3K $76.38K
YoY Change 103.92% 299.66%
TOTAL ASSETS
Total Short-Term Assets $857.4K $965.5K $1.191M
Total Long-Term Assets $371.6K $305.3K $76.38K
Total Assets $1.229M $1.271M $1.267M
YoY Change 15.14% 0.29% 112.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $415.6K $298.7K $343.1K
YoY Change 83.63% -12.94% -55.87%
Accrued Expenses $294.5K $260.8K $737.1K
YoY Change 8.0% -64.62% 541.85%
Deferred Revenue
YoY Change
Short-Term Debt $67.46K $116.8K $40.00K
YoY Change 68.65% 192.05% 24.38%
Long-Term Debt Due $38.56K $14.93K
YoY Change
Total Short-Term Liabilities $1.730M $1.510M $1.120M
YoY Change 47.46% 34.83% -47.6%
LONG-TERM LIABILITIES
Long-Term Debt $116.9K $46.16K $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $116.9K $46.16K $0.00
YoY Change 412.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.730M $1.510M $1.120M
Total Long-Term Liabilities $116.9K $46.16K $0.00
Total Liabilities $1.847M $1.556M $1.120M
YoY Change 54.41% 38.95% -47.6%
SHAREHOLDERS EQUITY
Retained Earnings -$25.67M -$25.05M
YoY Change 10.22%
Common Stock $215.0K $195.6K
YoY Change 24.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$618.1K -$285.7K $146.9K
YoY Change
Total Liabilities & Shareholders Equity $1.229M $1.271M $1.267M
YoY Change 15.14% 0.29% 112.9%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$619.5K -$710.0K -$358.7K
YoY Change 15.99% 97.94% -17.36%
Depreciation, Depletion And Amortization $21.85K $19.40K $870.00
YoY Change 461.22% 2130.11%
Cash From Operating Activities -$316.4K -$392.6K -$598.2K
YoY Change -25.74% -34.37% 76.83%
INVESTING ACTIVITIES
Capital Expenditures $38.73K $0.00 -$34.53K
YoY Change -186.53% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$38.73K $0.00 -$34.53K
YoY Change -13.47% -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 185.5K $541.4K 426.0K
YoY Change 12.44% 27.09% -1.85%
NET CHANGE
Cash From Operating Activities -316.4K -$392.6K -598.2K
Cash From Investing Activities -38.73K $0.00 -34.53K
Cash From Financing Activities 185.5K $541.4K 426.0K
Net Change In Cash -169.6K $103.6K -206.8K
YoY Change -44.55% -150.08% -316.04%
FREE CASH FLOW
Cash From Operating Activities -$316.4K -$392.6K -$598.2K
Capital Expenditures $38.73K $0.00 -$34.53K
Free Cash Flow -$355.1K -$392.6K -$563.7K
YoY Change -6.86% -30.35%

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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
103555 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
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IncomeTaxesPaidNet
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CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2023Q1 eawd Common Stock Issued For Interest And Fees
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CommonStockIssuedToConvertLoansPayable
50000 usd
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DerivativeLiabilitySettledUponConversionOfDebt
0 usd
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DerivativeLiabilitySettledUponConversionOfDebt
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CY2023Q1 eawd Reclassification Of Common Stock Subscription Liability To Common Stock Subscriptions
ReclassificationOfCommonStockSubscriptionLiabilityToCommonStockSubscriptions
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CY2023Q1 eawd Reclassification Of Common Stock Subscriptions To Common Stock
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CY2022Q1 eawd Reclassification Of Common Stock Subscriptions To Common Stock
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CY2023Q1 us-gaap Use Of Estimates
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<p id="xdx_844_eus-gaap--UseOfEstimates_zSsDcuK811ha" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span id="xdx_86D_zL91ylZXnMUd">Use of Estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates. Estimates which are particularly significant to the financial statements include estimates relating to the determination of impairment of assets, assessment of going concern, the determination of the fair value of stock-based compensation, and the recoverability of deferred income tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
144441 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
40866 usd
CY2023Q1 us-gaap Revenues
Revenues
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CY2022Q1 us-gaap Revenues
Revenues
0 usd
CY2023Q1 us-gaap Derivative Liabilities Current
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153432 usd
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184025 usd
CY2023Q1 eawd Additional Common Shares
AdditionalCommonShares
0 shares
CY2022Q1 eawd Additional Common Shares
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 eawd Working Capital Deficit
WorkingCapitalDeficit
544821 usd
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
52761 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
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CY2023Q1 us-gaap Inventory Finished Goods And Work In Process
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467527 usd
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457646 usd
CY2023Q1 us-gaap Prepaid Expense Current
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110108 usd
CY2022Q4 us-gaap Prepaid Expense Current
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140676 usd
CY2023Q1 us-gaap Value Added Tax Receivable
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173932 usd
CY2022Q4 us-gaap Value Added Tax Receivable
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158200 usd
CY2023Q1 us-gaap Security Deposit
SecurityDeposit
16697 usd
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
16346 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
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300737 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
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315222 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
303852 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
264218 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
37953 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18551 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
265899 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
245667 usd
CY2023Q1 us-gaap Depreciation
Depreciation
19402 usd
CY2022Q1 us-gaap Depreciation
Depreciation
873 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
260752 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
241960 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
298685 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
324754 usd
CY2023Q1 eawd Accrued Legal Costs
AccruedLegalCosts
349726 usd
CY2022Q4 eawd Accrued Legal Costs
AccruedLegalCosts
349726 usd
CY2023Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1177 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
134152 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
910340 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
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1050592 usd
CY2023Q1 eawd Fair Value Assumption Exercise Price
FairValueAssumptionExercisePrice
0.03
CY2023Q1 eawd Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P0Y6M29D
CY2023Q1 eawd Fair Value Assumption Weighted Average Volatility Rate
FairValueAssumptionWeightedAverageVolatilityRate
1.82 pure
CY2023Q1 eawd Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.0464 pure
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
153432 usd
CY2023Q1 eawd Warrants And Derivative Liabilities
WarrantsAndDerivativeLiabilities
153432 usd
CY2021Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
176703 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
178000 usd
CY2022 eawd Cash Settlement Of Debt
CashSettlementOfDebt
-150000 usd
CY2022 eawd Debt Discount During Period
DebtDiscountDuringPeriod
-175025 usd
CY2022 eawd Debt Converted During Period
DebtConvertedDuringPeriod
-50000 usd
CY2022 eawd Amortization Of Debt Discount
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93986 usd
CY2022Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
73664 usd
CY2023Q1 eawd Amortization Of Debt Discount
AmortizationOfDebtDiscount
43157 usd
CY2023Q1 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
116821 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
354160 usd
CY2022 eawd Fair Value Derivative Liability Change Due To Issuances
FairValueDerivativeLiabilityChangeDueToIssuances
175026 usd
CY2022 eawd Fair Value Derivative Liability Change Due To Exercise Redemptions
FairValueDerivativeLiabilityChangeDueToExerciseRedemptions
-110507 usd
CY2022 eawd Fair Value Derivative Liability Change In Fair Value
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-234654 usd
CY2022Q4 us-gaap Derivative Liabilities Current
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184025 usd
CY2023Q1 eawd Fair Value Derivative Liability Change In Fair Value
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-30593 usd
CY2023Q1 us-gaap Derivative Liabilities Current
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153432 usd
CY2023Q1 eawd Fair Value Assumption Stock Price
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0.04
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
184025 usd
CY2022Q4 eawd Warrants And Derivative Liabilities
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184025 usd
CY2023Q1 us-gaap Subordinated Borrowing Interest Rate
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0.08 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y8M1D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0800 pure
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3255 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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0 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4768 usd
CY2022Q1 us-gaap Operating Lease Payments
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0 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
61380 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
64416 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
14930 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
14327 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
24932 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
10173 usd
CY2023Q1 eawd Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
39359 usd
CY2022Q4 eawd Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
62113 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
39359 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
62113 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
55007 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
19277 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
19277 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
17671 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
111232 usd
CY2023Q1 eawd Imputed Interest
ImputedInterest
-10788 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
100444 usd
CY2023Q1 eawd Due To Related Party Current
DueToRelatedPartyCurrent
251376 usd
CY2022Q4 eawd Due To Related Party Current
DueToRelatedPartyCurrent
222492 usd
CY2019 eawd Solar Powered Atmospheric Water Generator
SolarPoweredAtmosphericWaterGenerator
550000 usd
CY2019Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
303742 usd
CY2020Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
193497 usd
CY2023Q1 eawd Unpaid Balance On Equipment
UnpaidBalanceOnEquipment
52761 usd
CY2022Q4 eawd Unpaid Balance On Equipment
UnpaidBalanceOnEquipment
52761 usd
CY2023Q1 eawd Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
24029 usd
CY2022Q4 eawd Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
27029 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
6952523 shares
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
168126 usd
CY2023Q1 us-gaap Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
310700 usd
CY2023Q1 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
13674000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
195572994 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
195572994 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
182934483 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
182934483 shares
CY2022Q1 us-gaap Line Of Credit
LineOfCredit
5000000 usd
CY2022Q1 us-gaap Shares Issued
SharesIssued
2500000 shares
CY2022Q1 eawd Stock Issued During Period Shares New Issue
StockIssuedDuringPeriodSharesNewIssue
500000 shares
CY2022Q1 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
300000 usd
CY2022Q1 us-gaap Convertible Debt
ConvertibleDebt
50000 usd
CY2022Q1 eawd Interest Converted
InterestConverted
3222 usd
CY2022Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
575558 shares
CY2022Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
20000 shares
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
3600 usd
CY2022Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
500000 shares
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
85000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Line Of Credit Facility Description
LineOfCreditFacilityDescription
Requests are limited to the lesser of $1,000,000 or 500% of the average shares traded for the 10 days prior the Closing Request Date. The purchase price shall be 85% of the two lowest individual daily VWAP during the five (5) trading days immediately prior to the date the Request Notice is delivered (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction that occurs on or after the date of this Agreement). In addition, the Company and Tysadco Partners entered into a Registration Rights Agreement, whereby the Company shall register the securities on a registration statement covering the Offering Amount with the Securities and Exchange Commission (“SEC”) within forty-five days of filing its 10-K for the year ended December 31, 2021. The Company’s Registration Statement on Form S-1 registering 25,000,000 shares in connection with the ELOC was declared effective on July 5, 2022.
CY2023Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
23626 usd
CY2022Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
19521 usd
CY2023Q2 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
2914265 shares
CY2023Q2 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
58000 usd
CY2023Q2 eawd Conversion Of Stock Accrued Interest
ConversionOfStockAccruedInterest
1699 usd
CY2023Q1 us-gaap Proceeds From Deposits From Customers
ProceedsFromDepositsFromCustomers
310700 usd
CY2023Q1 eawd Common Stock Subscriptions Shares
CommonStockSubscriptionsShares
13674000 shares
CY2023Q2 eawd Stock Shares Issued1
StockSharesIssued1
1020000 shares
CY2023Q2 eawd Stock Amount Issued
StockAmountIssued
26000 usd

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