2023 Q2 Form 10-K Financial Statement
#000164033423001168 Filed on June 30, 2023
Income Statement
Concept | 2023 Q2 | 2023 | 2022 |
---|---|---|---|
Revenue | $0.00 | $58.40K | $0.00 |
YoY Change | |||
Cost Of Revenue | $0.00 | $0.00 | |
YoY Change | |||
Gross Profit | $58.40K | $0.00 | |
YoY Change | |||
Gross Profit Margin | 100.0% | ||
Selling, General & Admin | $11.34K | $430.4K | $472.8K |
YoY Change | -90.58% | -8.97% | 65.04% |
% of Gross Profit | 736.95% | ||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $74.90K | ||
YoY Change | 2.55% | ||
% of Gross Profit | |||
Operating Expenses | $11.34K | $430.4K | $472.8K |
YoY Change | -90.58% | -8.97% | 65.04% |
Operating Profit | -$11.34K | -$372.0K | -$472.8K |
YoY Change | -90.58% | -21.32% | 65.04% |
Interest Expense | $0.00 | $0.00 | $1.00 |
YoY Change | -100.0% | 0.0% | |
% of Operating Profit | |||
Other Income/Expense, Net | $658.00 | $900.00 | -$417.00 |
YoY Change | -21.01% | -315.83% | -349.7% |
Pretax Income | -$10.68K | -$371.1K | -$473.2K |
YoY Change | -91.07% | -21.58% | 65.28% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$10.68K | -$371.1K | -$473.2K |
YoY Change | -91.07% | -21.58% | 65.28% |
Net Earnings / Revenue | -635.41% | ||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.00 | -$0.19 | -$238.6K |
COMMON SHARES | |||
Basic Shares Outstanding | 1.984M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q2 | 2023 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $730.00 | $900.00 | $530.00 |
YoY Change | -52.6% | 69.81% | 76.67% |
Cash & Equivalents | $726.00 | $900.00 | $530.00 |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $9.991K | $10.32K | $6.840K |
YoY Change | 14.38% | 50.88% | 242.0% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.130K | $2.600K | $6.480K |
YoY Change | -89.63% | -59.88% | -91.86% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $4.133K | $2.600K | $6.480K |
YoY Change | -89.62% | -59.88% | -91.86% |
TOTAL ASSETS | |||
Total Short-Term Assets | $9.991K | $10.32K | $6.840K |
Total Long-Term Assets | $4.133K | $2.600K | $6.480K |
Total Assets | $14.12K | $12.92K | $13.32K |
YoY Change | -70.91% | -3.0% | -83.68% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $242.4K | $231.7K | $177.4K |
YoY Change | 23.21% | 30.63% | 77.95% |
Accrued Expenses | $440.00 | $6.460K | $26.48K |
YoY Change | -98.91% | -75.6% | -73.12% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $23.44K | $286.7K | $228.7K |
YoY Change | -90.07% | 25.36% | 33.21% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.588M | $2.621M | $2.458M |
YoY Change | 1.25% | 6.63% | 21.37% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $4.280K | $0.00 | |
YoY Change | |||
Total Long-Term Liabilities | $4.280K | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.588M | $2.621M | $2.458M |
Total Long-Term Liabilities | $4.280K | $0.00 | $0.00 |
Total Liabilities | $2.592M | $2.621M | $2.458M |
YoY Change | 1.42% | 6.63% | 21.37% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$2.783M | ||
YoY Change | 10.4% | ||
Common Stock | $122.0K | ||
YoY Change | 6048.39% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$2.578M | -$2.608M | -$2.444M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $14.12K | $12.92K | $13.32K |
YoY Change | -70.91% | -3.0% | -83.68% |
Cashflow Statement
Concept | 2023 Q2 | 2023 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$10.68K | -$371.1K | -$473.2K |
YoY Change | -91.07% | -21.58% | 65.28% |
Depreciation, Depletion And Amortization | $74.90K | ||
YoY Change | 2.55% | ||
Cash From Operating Activities | $4.356K | -$71.38K | -$172.8K |
YoY Change | -109.03% | -58.69% | -50.38% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $2.656K | 71.78K | $173.0K |
YoY Change | -94.61% | -58.5% | -50.25% |
NET CHANGE | |||
Cash From Operating Activities | $4.356K | -71.38K | -$172.8K |
Cash From Investing Activities | $0.00 | $0.00 | $0.00 |
Cash From Financing Activities | $2.656K | 71.78K | $173.0K |
Net Change In Cash | -$170.00 | 400.0 | $225.00 |
YoY Change | -116.68% | 77.78% | -147.37% |
FREE CASH FLOW | |||
Cash From Operating Activities | $4.356K | -$71.38K | -$172.8K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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ConcentrationRiskCreditRisk
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables that it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.</p> | |
CY2023 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
47680 | usd |
CY2022 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
52440 | usd |
CY2023 | elre |
Proceeds From Related Party Debts
ProceedsFromRelatedPartyDebts
|
-120714 | usd |
CY2022 | elre |
Proceeds From Related Party Debts
ProceedsFromRelatedPartyDebts
|
120541 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-48216 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
172981 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1539 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
15 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
371 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
225 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
525 | usd |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
300 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
896 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
525 | usd |
CY2007Q1 | elre |
Common Stock Increase Authorized Capital Shares
CommonStockIncreaseAuthorizedCapitalShares
|
1000000000 | shares |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. </p> | |
CY2023 | us-gaap |
Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations or balance sheets. An reclassification has been made to the Consolidated Statement of Cash Flows as of March 31, 2022 to reclassify wage payable to related party of $251,778 to accounts payable and accrued liabilities.</p> | |
CY2022Q1 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
251778 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
|
207719 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
|
-27901 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-371084 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-473220 | usd |
CY2023 | elre |
Weighted Average Number Of Share Outstanding Basic And Diluted Share
WeightedAverageNumberOfShareOutstandingBasicAndDilutedShare
|
1983993 | shares |
CY2022 | elre |
Weighted Average Number Of Share Outstanding Basic And Diluted Share
WeightedAverageNumberOfShareOutstandingBasicAndDilutedShare
|
1983993 | shares |
CY2023 | elre |
Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
|
-0.19 | |
CY2022 | elre |
Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
|
-0.24 | |
CY2023Q1 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
2095837 | usd |
CY2022Q1 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
2025195 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-371084 | usd |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
3000000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1983993 | shares |
CY2023Q1 | elre |
Accrued Interest Related Parties
AccruedInterestRelatedParties
|
453 | usd |
CY2022Q1 | elre |
Accrued Interest Related Parties
AccruedInterestRelatedParties
|
480 | usd |
CY2023Q1 | us-gaap |
Due From Related Parties
DueFromRelatedParties
|
261932 | usd |
CY2022Q1 | us-gaap |
Due From Related Parties
DueFromRelatedParties
|
228675 | usd |
CY2023Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
|
6007 | usd |
CY2023Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
|
0 | usd |
CY2023Q1 | elre |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal Remainder Thereafter
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalRemainderThereafter
|
0 | usd |
CY2023Q1 | elre |
Lease Payment At Present Value
LeasePaymentAtPresentValue
|
6007 | usd |
CY2020Q3 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
143508 | usd |
CY2017Q4 | us-gaap |
Income Tax Examination Description
IncomeTaxExaminationDescription
|
The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. As a result of the reduction in the U.S. corporate income tax rate from 34% to 21% under the Tax Reform Act, the Company revalued its ending net deferred tax assets |