$ELVG
Elvictor Group, Inc.

2024 Q4 Form 10-Q Financial Statement

#000121390024097293 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $645.2K
YoY Change 16.92%
Cost Of Revenue $145.4K
YoY Change 24.53%
Gross Profit $499.8K
YoY Change 14.88%
Gross Profit Margin 77.46%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $356.8K
YoY Change -26.98%
Operating Profit $143.0K
YoY Change -367.15%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$6.695K
YoY Change -622.64%
Pretax Income $136.3K
YoY Change -360.88%
Income Tax $11.21K
% Of Pretax Income 8.22%
Net Earnings $125.1K
YoY Change -329.41%
Net Earnings / Revenue 19.39%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 414.4M shares 414.4M shares
Diluted Shares Outstanding 414.4M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $105.9K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $498.8K
Other Receivables $29.73K
Total Short-Term Assets $1.461M
YoY Change 29.78%
LONG-TERM ASSETS
Property, Plant & Equipment $11.63K
YoY Change -28.2%
Goodwill
YoY Change
Intangibles $101.9K
YoY Change -26.94%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $360.1K
YoY Change -16.96%
TOTAL ASSETS
Total Short-Term Assets $1.461M
Total Long-Term Assets $360.1K
Total Assets $1.822M
YoY Change 16.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.86K
YoY Change -43.42%
Accrued Expenses $245.8K
YoY Change 1.02%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.025M
YoY Change -3.51%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $229.4K
YoY Change -2.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.025M
Total Long-Term Liabilities $229.4K
Total Liabilities $1.254M
YoY Change -3.25%
SHAREHOLDERS EQUITY
Retained Earnings -$44.63M
YoY Change -0.45%
Common Stock $45.20M
YoY Change 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $567.3K
YoY Change
Total Liabilities & Shareholders Equity $1.822M
YoY Change 16.79%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $125.1K
YoY Change -329.41%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Security Exchange Name
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32071 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
442198 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
125138 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
567336 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
452591 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-8410 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
444181 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-126266 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
317915 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-54547 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
263368 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><b>NOTE 1 – DESCRIPTION OF BUSINESS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Elvictor Group, Inc., formerly known as Thenablers, Inc. (“Elvictor Group, Inc.” or the “Company”), was incorporated in the State of Nevada on November 3, 2017. With the change to the Elvictor name came the addition of the new brand and a new crew management team in the shipping industry. The new management team originates from Elvictor (the Greece-based private entity founded in 1977, which is the predecessor to the company whose business became a part of the business of Thenablers in 2019, the “Elvictor Greece”) that has been active across various value-adding activities of the shipping sector, most significantly, ship management, technical management, crewing &amp; crew management. The Company’s professional core of activities includes crew management, training and the creation of in-house software related to crew and ship matters, for the amelioration of all its operations, facilitating both its employees and those that depend on them. The Company aims to broaden its scope of activities, expanding on to new areas, such as crew training while refining existing activities. Placing prime importance on digitalization, the Company plans on the extensive use of Artificial Intelligence, through the application of Machine and Deep Learning, in concert with the integration of a wide array of cloud systems. The strategic growth of the Company on a horizontal and vertical manner throughout the shipping industry will be reinforced with technologically adept tools, containing know-how and experience. Working on a technologically oriented path, the Company is flexible and open to other avenues of international business for the successful and profitable diversification of its portfolio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 13, 2019, the Company filed a Certificate of Amendment with the Nevada Secretary of State to change its name from “Thenablers, Inc.” to “Elvictor Group, Inc.” (the “Name Change”), to better reflect its new business interests. On February 25, 2020, FINRA approved the Name Change and the Company’s new stock symbol “ELVG”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of July 10, 2020, the Company founded Elvictor Group Hellas Single Member S.A., a subsidiary in Vari, Greece, to assist the management in facilitating the Company’s operations. Additionally, the Company purchased Ultra Ship Management, a Marshall Islands company that is licensed to provide ship management services, which established their own subsidiary in Vari, Greece.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2022, the Company established its wholly owned subsidiary, ELVG Crew Management Ltd, incorporated in Cyprus, to facilitate its crew management operations.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="text-decoration:underline">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The preparation of unaudited condensed consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date the unaudited condensed consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2024Q3 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2024Q3 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P5Y
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
498761 usd
CY2024Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
29733 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
118609 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
85112 usd
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
101918 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
130266 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
10527 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
22899 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
45586 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
32745 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
688 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
101918 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
118609 usd
CY2023 us-gaap Amortization Of Intangible Assets
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85112 usd
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
58469 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0 usd
us-gaap Payments For Rent
PaymentsForRent
5000 eur
us-gaap Payments For Rent
PaymentsForRent
3500 eur
us-gaap Operating Lease Expense
OperatingLeaseExpense
43977 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
43897 usd
CY2024Q3 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
348243 usd
CY2023Q4 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
861878 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
414448757 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
414448757 shares
CY2020Q3 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
3000000 usd
CY2020Q3 us-gaap Investment Company Debt Instrument Amount Repaid To Principal Excess Less
InvestmentCompanyDebtInstrumentAmountRepaidToPrincipalExcessLess
10000000 usd
CY2021Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
405725 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
111833 usd
CY2019Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
30000 usd
CY2021Q2 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
375459000 shares
us-gaap Lease Cost
LeaseCost
5000 eur
us-gaap Lease Cost
LeaseCost
3500 eur
CY2023Q1 us-gaap Lessee Operating Lease Lease Not Yet Commenced Renewal Term1
LesseeOperatingLeaseLeaseNotYetCommencedRenewalTerm1
P8Y
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1118000 usd
CY2024Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
896330 usd
CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
188229 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
190664 usd
CY2024Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
188229 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
190664 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
188229 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
190664 usd
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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elvg Adjustments To Additional Paid In Capital For Cancellation Of Debt
AdjustmentsToAdditionalPaidInCapitalForCancellationOfDebt
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
elvg Adjustment To Additional Paid In Captal For Cancellation Of Debt
AdjustmentToAdditionalPaidInCaptalForCancellationOfDebt
usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001741489

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ea0220037-10q_elvictor.htm Edgar Link pending
ea022003701ex31-1_elvictor.htm Edgar Link pending
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