$EBZT
Everything Blockchain, Inc.

2024 Q2 Form 10-Q Financial Statement

#000147793224003687 Filed on June 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $63.00K $262.0K
YoY Change -75.95% 2.75%
Cost Of Revenue $0.00 $52.00K
YoY Change -100.0% 246.67%
Gross Profit $63.00K $210.0K
YoY Change -70.0% -12.5%
Gross Profit Margin 100.0% 80.15%
Selling, General & Admin $781.0K $1.230M
YoY Change -36.5% 12.53%
% of Gross Profit 1239.68% 585.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $203.0K $59.00K
YoY Change 244.07% 18.0%
% of Gross Profit 322.22% 28.1%
Operating Expenses $1.415M $2.005M
YoY Change -29.43% 3.03%
Operating Profit -$1.352M -$1.795M
YoY Change -24.68% 5.22%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$32.00K -$17.00K
YoY Change 88.24% -89.38%
Pretax Income -$1.384M -$1.812M
YoY Change -23.62% -2.89%
Income Tax $0.00 $7.000K
% Of Pretax Income
Net Earnings -$1.384M -$1.819M
YoY Change -23.91% 25.1%
Net Earnings / Revenue -2196.83% -694.27%
Basic Earnings Per Share -$0.18
Diluted Earnings Per Share -$0.08 -$0.18
COMMON SHARES
Basic Shares Outstanding 17.41M shares 9.923M shares
Diluted Shares Outstanding 9.923B shares

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.00K $6.000K
YoY Change 350.0% -99.65%
Cash & Equivalents $27.00K $6.000K
Short-Term Investments
Other Short-Term Assets $252.0K $173.0K
YoY Change 45.66% 226.42%
Inventory $74.00K
Prepaid Expenses $145.0K $2.541M
Receivables $66.00K
Other Receivables $0.00
Total Short-Term Assets $424.0K $2.864M
YoY Change -85.2% -62.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.000K $654.0K
YoY Change -99.69% -32.65%
Goodwill $16.50M $16.50M
YoY Change 0.0% -7.4%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $221.0K $463.0K
YoY Change -52.27% 0.0%
Total Long-Term Assets $21.54M $22.06M
YoY Change -2.35% -2.71%
TOTAL ASSETS
Total Short-Term Assets $424.0K $2.864M
Total Long-Term Assets $21.54M $22.06M
Total Assets $21.97M $24.92M
YoY Change -11.87% -17.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.252M $1.651M
YoY Change 36.4% 972.08%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.499M $479.0K
YoY Change 212.94% 69.86%
Total Short-Term Liabilities $4.001M $2.412M
YoY Change 65.88% 41.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $40.00K
YoY Change -100.0% -84.79%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $40.00K
YoY Change -100.0% -91.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.001M $2.412M
Total Long-Term Liabilities $0.00 $40.00K
Total Liabilities $4.001M $2.452M
YoY Change 63.17% 12.79%
SHAREHOLDERS EQUITY
Retained Earnings -$69.77M -$62.35M
YoY Change 11.89% 18.67%
Common Stock $2.000K $1.000K
YoY Change 100.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.691M
YoY Change
Treasury Stock Shares
Shareholders Equity $17.96M $22.47M
YoY Change
Total Liabilities & Shareholders Equity $21.97M $24.92M
YoY Change -11.87% -17.88%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.384M -$1.819M
YoY Change -23.91% 25.1%
Depreciation, Depletion And Amortization $203.0K $59.00K
YoY Change 244.07% 18.0%
Cash From Operating Activities -$415.0K -$688.0K
YoY Change -39.68% 28.36%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $222.0K
YoY Change -100.0% -169.59%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 -$222.0K
YoY Change -100.0% -30.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $382.0K $92.00K
YoY Change 315.22% -93.83%
NET CHANGE
Cash From Operating Activities -$415.0K -$688.0K
Cash From Investing Activities $0.00 -$222.0K
Cash From Financing Activities $382.0K $92.00K
Net Change In Cash -$33.00K -$818.0K
YoY Change -95.97% -228.41%
FREE CASH FLOW
Cash From Operating Activities -$415.0K -$688.0K
Capital Expenditures $0.00 $222.0K
Free Cash Flow -$415.0K -$910.0K
YoY Change -54.4% 319.35%

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The most significant estimates and judgments relate to revenue recognition; allowance for doubtful accounts; valuation of long-lived assets and finite-lived intangible assets; recoverability of goodwill; acquisition method of accounting; contingencies; and income taxes.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On a regular basis, management reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience, and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.</p>
CY2024Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Financial instruments which potentially subject the Company to a concentration of credit risk consist principally of temporary cash investments and accounts receivable. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Concentrations of credit risk with respect to trade receivables and commodities are limited due to the Company’s diverse group of customers. The Company establishes an allowance for doubtful accounts when events and circumstances regarding the collectability of its receivables or the selling of its commodities warrant based upon factors such as the credit risk of specific customers, historical trends, other information, and past bad debt history. The outstanding balances are stated net of an allowance for doubtful accounts.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States. The Company may occasionally maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000. The risk is managed by maintaining all deposits in high-quality financial institutions. The Company had $0 in excess of federally insured limits on April 30, 2024 and January 31, 2024.</p>
CY2024Q2 ebi Cash Fdic Insured Limit Amount
CashFDICInsuredLimitAmount
250000 usd
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
0 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
201000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
52000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
149000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
387000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
28000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
415000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-266000 usd
CY2024Q2 ebi Disposal Group Including Discontinued Operations Other Income
DisposalGroupIncludingDiscontinuedOperationsOtherIncome
-16000 usd
CY2024Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
-282000 usd
CY2024Q2 us-gaap Discontinued Operation Tax Expense Benefit From Provision For Gain Loss On Disposal
DiscontinuedOperationTaxExpenseBenefitFromProvisionForGainLossOnDisposal
0 usd
CY2024Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
-282000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2000 usd
CY2023Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
149500 usd
CY2023Q4 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
125000 usd
CY2023Q4 ebi Original Issue Discount
OriginalIssueDiscount
19500 usd
CY2023Q4 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
5000 usd
CY2023Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.11 pure
CY2024Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
83300 usd
CY2024Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
65000 usd
CY2024Q1 ebi Original Issue Discount
OriginalIssueDiscount
13300 usd
CY2024Q1 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
5000 usd
CY2024Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.14 pure
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17410718 shares
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16902546 shares
CY2024Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
154785 shares
CY2024Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
120000 usd
CY2024 ebi Warrants Outstanding Shares
WarrantsOutstandingShares
2611000 shares
CY2024 ebi Warrants Outstanding Weighted Average Conversion Price
WarrantsOutstandingWeightedAverageConversionPrice
1.09
CY2024Q2 ebi Warrants Outstanding Shares
WarrantsOutstandingShares
2611000 shares
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1384000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1537000 usd
CY2024Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 usd
CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-282000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1384000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1819000 usd
CY2024Q2 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
16991000 shares
CY2023Q2 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
9923000 shares
CY2024Q2 ebi Weighted Average Number Of Diluted Shares Outstanding1
WeightedAverageNumberOfDilutedSharesOutstanding1
16991000 shares
CY2023Q2 ebi Weighted Average Number Of Diluted Shares Outstanding1
WeightedAverageNumberOfDilutedSharesOutstanding1
9923000 shares
CY2024Q2 ebi Income Loss From Continuing Operation Per Basic And Diluted Share
IncomeLossFromContinuingOperationPerBasicAndDilutedShare
-0.08
CY2023Q2 ebi Income Loss From Continuing Operation Per Basic And Diluted Share
IncomeLossFromContinuingOperationPerBasicAndDilutedShare
-0.15
CY2024Q2 ebi Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
0
CY2023Q2 ebi Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
-0.03
CY2024Q2 ebi Earnings Per Shares Basic And Diluted
EarningsPerSharesBasicAndDiluted
-0.08
CY2023Q2 ebi Earnings Per Shares Basic And Diluted
EarningsPerSharesBasicAndDiluted
-0.18

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