2023 Q3 Form 10-Q Financial Statement

#000107997323001337 Filed on September 29, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $763.9K $523.8K
YoY Change 48.54% 20.34%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.62K $21.85K
YoY Change 452.03% 461.22%
% of Gross Profit
Operating Expenses $810.0K $545.6K
YoY Change 56.58% 25.36%
Operating Profit -$810.0K -$545.6K
YoY Change 56.58% 25.36%
Interest Expense $71.76K $46.42K
YoY Change 3566.82%
% of Operating Profit
Other Income/Expense, Net -$256.0K -$72.98K
YoY Change 90.23% -26.19%
Pretax Income -$1.066M -$618.6K
YoY Change 63.53% 15.82%
Income Tax -$443.00 $925.00
% Of Pretax Income
Net Earnings -$1.066M -$619.5K
YoY Change 63.46% 15.99%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 222.7M shares 213.2M shares
Diluted Shares Outstanding 218.6M shares 203.1M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.8K $33.77K
YoY Change 103.28% -41.52%
Cash & Equivalents $115.8K $33.77K
Short-Term Investments
Other Short-Term Assets $121.4K $127.6K
YoY Change -28.9% -36.6%
Inventory $468.0K $470.0K
Prepaid Expenses $103.5K $109.2K
Receivables $0.00 $52.76K
Other Receivables $196.1K $173.4K
Total Short-Term Assets $901.4K $857.4K
YoY Change 8.72% -3.14%
LONG-TERM ASSETS
Property, Plant & Equipment $320.6K $346.9K
YoY Change 117.28% 355.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $330.4K $371.6K
YoY Change 123.88% 103.92%
TOTAL ASSETS
Total Short-Term Assets $901.4K $857.4K
Total Long-Term Assets $330.4K $371.6K
Total Assets $1.232M $1.229M
YoY Change 26.12% 15.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $339.4K $415.6K
YoY Change 15.93% 83.63%
Accrued Expenses $305.7K $294.5K
YoY Change -66.39% 8.0%
Deferred Revenue
YoY Change
Short-Term Debt $168.5K $67.46K
YoY Change 321.35% 68.65%
Long-Term Debt Due $38.32K $38.56K
YoY Change
Total Short-Term Liabilities $1.813M $1.730M
YoY Change 45.96% 47.46%
LONG-TERM LIABILITIES
Long-Term Debt $104.0K $116.9K
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $104.0K $116.9K
YoY Change 1060.6% 412.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.813M $1.730M
Total Long-Term Liabilities $104.0K $116.9K
Total Liabilities $1.917M $1.847M
YoY Change 53.22% 54.41%
SHAREHOLDERS EQUITY
Retained Earnings -$26.73M -$25.67M
YoY Change 10.22%
Common Stock $222.7K $215.0K
YoY Change 24.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$685.3K -$618.1K
YoY Change
Total Liabilities & Shareholders Equity $1.232M $1.229M
YoY Change 26.12% 15.14%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.066M -$619.5K
YoY Change 63.46% 15.99%
Depreciation, Depletion And Amortization $16.62K $21.85K
YoY Change 452.03% 461.22%
Cash From Operating Activities -$844.5K -$316.4K
YoY Change 186.93% -25.74%
INVESTING ACTIVITIES
Capital Expenditures -$6.950K $38.73K
YoY Change -694.02% -186.53%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $6.950K -$38.73K
YoY Change 494.02% -13.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 950.3K 185.5K
YoY Change 216.78% 12.44%
NET CHANGE
Cash From Operating Activities -844.5K -316.4K
Cash From Investing Activities 6.950K -38.73K
Cash From Financing Activities 950.3K 185.5K
Net Change In Cash 112.8K -169.6K
YoY Change 1544.75% -44.55%
FREE CASH FLOW
Cash From Operating Activities -$844.5K -$316.4K
Capital Expenditures -$6.950K $38.73K
Free Cash Flow -$837.5K -$355.1K
YoY Change 183.44% -6.86%

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us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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<p id="xdx_841_eus-gaap--UseOfEstimates_zZjZKBRAQf6h" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_866_zEcGPGvADId7">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>
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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Revenues
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CY2023Q2 us-gaap Depreciation
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52761 usd
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109187 usd
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140676 usd
CY2023Q2 us-gaap Value Added Tax Receivable
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173348 usd
CY2022Q4 us-gaap Value Added Tax Receivable
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158200 usd
CY2023Q2 us-gaap Security Deposit
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16941 usd
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
16346 usd
CY2023Q2 eawd Prepayment On Inventory Not Received
PrepaymentOnInventoryNotReceived
1440 usd
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0 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
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300916 usd
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315222 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
406677 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
264218 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
59808 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18551 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
346869 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
245667 usd
us-gaap Depreciation
Depreciation
41257 usd
us-gaap Depreciation
Depreciation
4767 usd
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294511 usd
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241960 usd
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415558 usd
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324754 usd
CY2023Q2 eawd Accrued Legal Costs
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345596 usd
CY2022Q4 eawd Accrued Legal Costs
AccruedLegalCosts
349726 usd
CY2023Q2 us-gaap Accrued Salaries Current
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1173 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
134152 usd
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1056838 usd
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1050592 usd
CY2021Q4 us-gaap Convertible Debt
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176703 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
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178000 usd
CY2022 eawd Cash Settlement Of Debt
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-150000 usd
CY2022 eawd Debt Discount During Period
DebtDiscountDuringPeriod
-175025 usd
CY2022 eawd Debt Converted During Period
DebtConvertedDuringPeriod
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CY2022 eawd Amortization Of Debt Discount
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CY2022Q4 us-gaap Convertible Debt
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CY2023Q1 eawd Amortization Of Debt Discount
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CY2023Q1 us-gaap Convertible Debt
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CY2023Q2 eawd Debt Converted During Period
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43637 usd
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116881 usd
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CY2022Q4 us-gaap Derivative Liabilities Current
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CY2023Q1 eawd Fair Value Derivative Liability Change In Fair Value
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20484 usd
CY2023Q2 us-gaap Derivative Liabilities Current
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CY2023Q2 us-gaap Derivative Liabilities
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CY2023Q2 eawd Warrants And Derivative Liabilities
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CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
184025 usd
CY2022Q4 eawd Warrants And Derivative Liabilities
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184025 usd
us-gaap Subordinated Borrowing Interest Rate
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0.08 pure
eawd Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P3Y7M17D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0800 pure
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
16977 usd
us-gaap Finance Lease Right Of Use Asset Amortization
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0 usd
us-gaap Operating Lease Payments
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16977 usd
us-gaap Operating Lease Payments
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CY2023Q2 us-gaap Finance Lease Right Of Use Asset
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155140 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
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64416 usd
CY2023Q2 us-gaap Finance Lease Liability Current
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38559 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
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48946 usd
us-gaap Operating Lease Expense
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39740 usd
us-gaap Operating Lease Expense
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24352 usd
CY2023Q2 eawd Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
24761 usd
CY2022Q4 eawd Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
62113 usd
CY2023Q2 us-gaap Operating Lease Liability Current
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24761 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
62113 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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0 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2023Q2 eawd Lessee Lease Liability Payments Remainder Of Fiscal Year
LesseeLeaseLiabilityPaymentsRemainderOfFiscalYear
50058 usd
CY2023Q2 eawd Lessee Lease Liability Payments Due Next Twelve Months
LesseeLeaseLiabilityPaymentsDueNextTwelveMonths
49600 usd
CY2023Q2 eawd Lessee Lease Liability Payments Due Year Two
LesseeLeaseLiabilityPaymentsDueYearTwo
49600 usd
CY2023Q2 eawd Lessee Lease Liability Payments Due Year Three
LesseeLeaseLiabilityPaymentsDueYearThree
47999 usd
CY2023Q2 eawd Lessee Lease Liability Payments Due Year Four
LesseeLeaseLiabilityPaymentsDueYearFour
7597 usd
CY2023Q2 eawd Lessee Lease Liability Payments Due
LesseeLeaseLiabilityPaymentsDue
204854 usd
CY2023Q2 eawd Imputed Interest
ImputedInterest
24655 usd
CY2023Q2 eawd Lease Liability
LeaseLiability
180199 usd
CY2023Q2 eawd Due To Related Party Current
DueToRelatedPartyCurrent
343759 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
CY2023Q2 eawd Unpaid Balance On Equipment
UnpaidBalanceOnEquipment
52761 usd
CY2022Q4 eawd Unpaid Balance On Equipment
UnpaidBalanceOnEquipment
52761 usd
CY2023Q2 eawd Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
6427 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
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
215020172 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
215020172 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
500000 shares
CY2022Q1 eawd Shares Isuued Value
SharesIsuuedValue
80000 usd
eawd Purchase Of Common Stock
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5000000 usd
CY2023Q2 eawd Additional Common Shares
AdditionalCommonShares
500000 shares
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.
CY2023Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
53161 usd
CY2022Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
22247 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
76787 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
41768 usd
CY2023Q2 us-gaap Proceeds From Deposits From Customers
ProceedsFromDepositsFromCustomers
30000 usd
CY2023Q2 eawd Common Stock Subscriptions Shares
CommonStockSubscriptionsShares
1500000 shares

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