2021 Q1 Form 10-Q Financial Statement
#000164033421000205 Filed on January 25, 2021
Income Statement
Concept | 2021 Q1 | 2020 Q3 | 2019 Q4 |
---|---|---|---|
Revenue | $336.2K | $590.3K | $1.661M |
YoY Change | -54.11% | 51.09% | 64.83% |
Cost Of Revenue | $19.76K | $60.53K | $174.1K |
YoY Change | -78.71% | 7.06% | 42.95% |
Gross Profit | $316.5K | $529.8K | $1.487M |
YoY Change | -50.54% | 58.54% | 67.84% |
Gross Profit Margin | 94.12% | 89.75% | 89.52% |
Selling, General & Admin | $238.5K | $189.4K | $257.0K |
YoY Change | -21.06% | -31.08% | 45.41% |
% of Gross Profit | 75.34% | 35.76% | 17.29% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $540.00 | $590.00 | $540.00 |
YoY Change | -1.82% | 22.92% | -78.49% |
% of Gross Profit | 0.17% | 0.11% | 0.04% |
Operating Expenses | $238.5K | $189.4K | $257.0K |
YoY Change | -21.06% | -31.08% | 45.41% |
Operating Profit | $78.03K | $340.3K | $1.230M |
YoY Change | -76.9% | 474.03% | 73.43% |
Interest Expense | $0.00 | $16.90K | -$35.93K |
YoY Change | -100.0% | -2447.22% | -733.69% |
% of Operating Profit | 0.0% | 4.97% | -2.92% |
Other Income/Expense, Net | -$5.100K | $24.31K | $10.00 |
YoY Change | -51100.0% | -3523.38% | -125.0% |
Pretax Income | $72.93K | $364.6K | $1.194M |
YoY Change | -79.35% | 522.48% | 67.03% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | 0.0% | 0.0% | 0.0% |
Net Earnings | $72.93K | $364.6K | $1.194M |
YoY Change | -79.35% | 522.48% | 65.3% |
Net Earnings / Revenue | 21.69% | 61.77% | 71.88% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $930.1K | $4.680M | $16.09K |
COMMON SHARES | |||
Basic Shares Outstanding | 74.12M shares | 74.12M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2021 Q1 | 2020 Q3 | 2019 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $41.98K | $174.6K | $295.6K |
YoY Change | -79.99% | 1352.66% | 718.13% |
Cash & Equivalents | $41.98K | $174.6K | $295.6K |
Short-Term Investments | |||
Other Short-Term Assets | $198.6K | $209.4K | $336.4K |
YoY Change | -35.54% | 441.84% | 523.71% |
Inventory | $438.4K | $77.74K | $10.54K |
Prepaid Expenses | $7.239K | $19.15K | |
Receivables | $427.8K | $2.521M | $2.177M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $1.107M | $2.983M | $2.820M |
YoY Change | -57.53% | 71.36% | 46.28% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $9.030K | $8.455K | $7.719K |
YoY Change | -75.69% | 19.27% | 0.9% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $0.00 | $20.75K | |
YoY Change | -100.0% | ||
Other Assets | $1.097M | $1.080M | $127.5K |
YoY Change | 41.51% | 15682.6% | 4640.89% |
Total Long-Term Assets | $1.106M | $1.090M | $191.0K |
YoY Change | 33.22% | 1256.11% | 1746.5% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.107M | $2.983M | $2.820M |
Total Long-Term Assets | $1.106M | $1.090M | $191.0K |
Total Assets | $2.213M | $4.073M | $3.011M |
YoY Change | -35.6% | 123.65% | 55.36% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $6.460K | $239.1K | $2.045K |
YoY Change | 822.86% | 6663.25% | -95.59% |
Accrued Expenses | $374.0K | $91.09K | $74.28K |
YoY Change | 180.77% | 72.2% | 11.76% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $654.3K | $517.1K | $221.7K |
YoY Change | 154.62% | 100.81% | -25.88% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $153.7K | $172.7K | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | $1.230K | $11.56K |
YoY Change | -100.0% | -92.71% | |
Total Long-Term Liabilities | $153.7K | $173.9K | $11.56K |
YoY Change | 2690.2% | 930.15% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $654.3K | $517.1K | $221.7K |
Total Long-Term Liabilities | $153.7K | $173.9K | $11.56K |
Total Liabilities | $836.0K | $691.0K | $233.3K |
YoY Change | 218.51% | 151.83% | -22.01% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $2.578M | ||
YoY Change | 72.3% | ||
Common Stock | $186.5K | ||
YoY Change | 21.04% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.405M | $3.321M | $2.716M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $2.213M | $4.073M | $3.011M |
YoY Change | -35.6% | 123.65% | 55.36% |
Cashflow Statement
Concept | 2021 Q1 | 2020 Q3 | 2019 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $72.93K | $364.6K | $1.194M |
YoY Change | -79.35% | 522.48% | 65.3% |
Depreciation, Depletion And Amortization | $540.00 | $590.00 | $540.00 |
YoY Change | -1.82% | 22.92% | -78.49% |
Cash From Operating Activities | -$130.9K | -$167.4K | $289.2K |
YoY Change | 68.27% | -2821.46% | -1191.66% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.520K | -$1.090K | -$890.00 |
YoY Change | 39.45% | -11000.0% | -68.99% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$1.520K | -$1.090K | -$890.00 |
YoY Change | 39.45% | -11000.0% | -68.99% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 52.45K | 237.8K | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -130.9K | -167.4K | 289.2K |
Cash From Investing Activities | -1.520K | -1.090K | -890.0 |
Cash From Financing Activities | 52.45K | 237.8K | |
Net Change In Cash | -79.93K | 69.37K | 288.3K |
YoY Change | 1.36% | 1026.14% | -1081.91% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$130.9K | -$167.4K | $289.2K |
Capital Expenditures | -$1.520K | -$1.090K | -$890.00 |
Free Cash Flow | -$129.3K | -$166.3K | $290.1K |
YoY Change | 68.68% | -2808.14% | -1328.07% |
Facts In Submission
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2020-09-30 | ||
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Supplies
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Gross Profit
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General And Administrative Expense
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Operating Lease Liability Noncurrent
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Use Of Estimates
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<div><p style="MARGIN:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><strong><i>Use of Estimates</i></strong></span></span></span></span></span></span></span></span></p><p style="MARGIN:0px"> </p><div><div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The preparation of financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></span></span></span></span></span></div></div></div> | ||
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Payments To Acquire Machinery And Equipment
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Payments To Acquire Machinery And Equipment
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Interest Paid Net
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<div><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><strong><i>Classification</i></strong></span></span></span></span></span></span></span></span></p><p style="margin:0pt"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span>Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net income nor retained earnings.</span></span></span></span></span></span></span></span></p></div> | ||
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212 | USD |
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125 | USD |
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353231 | USD |
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Net Income Loss
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62500 | USD |
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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Contributions From Noncontrolling Interests
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|
33398 | USD |
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Common Stock Value Issued In Exchange For Investment In Equity Securities
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|
32425 | USD |
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Share Based Compensation
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0 | USD | |
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|
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Increase Decrease In Accounts Payable
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|
235609 | USD | |
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Increase Decrease In Accounts Payable
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General And Administrative Expense
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Interest Income Other
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|
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Interest Income Other
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|
48 | USD | |
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Interest Income Other
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|
1 | USD |
us-gaap |
Other Income
OtherIncome
|
7415 | USD | |
us-gaap |
Other Income
OtherIncome
|
12 | USD | |
CY2020Q3 | us-gaap |
Other Income
OtherIncome
|
7405 | USD |
CY2019Q3 | us-gaap |
Other Income
OtherIncome
|
12 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
14582 | USD | |
CY2020Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
16900 | USD |
CY2019Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
2057 | USD |
us-gaap |
Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
|
-20750 | USD | |
us-gaap |
Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
|
-5205 | USD | |
CY2019Q3 | us-gaap |
Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
|
-2779 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-13186 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
9437 | USD | |
CY2020Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
24306 | USD |
CY2019Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-710 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
513713 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-111854 | USD | |
CY2020Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
364634 | USD |
CY2019Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
58578 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
CY2020Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2019Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
513713 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-111854 | USD | |
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
364634 | USD |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
58578 | USD |
CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-204152 | USD |
CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-153460 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
9014 | USD | |
CY2020Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
17747 | USD |
us-gaap |
Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
|
504699 | USD | |
us-gaap |
Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
|
-111854 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
271126 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-120985 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-24112 | USD | |
CY2020Q3 | us-gaap |
Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
|
346887 | USD |
CY2019Q3 | us-gaap |
Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
|
58578 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
55733 | USD | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-12457 | USD | |
CY2020Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
31665 | USD |
CY2019Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-3514 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
560432 | USD | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-124311 | USD | |
CY2020Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
378552 | USD |
CY2019Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
55064 | USD |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.00 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.00 | ||
CY2020Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.00 | |
CY2019Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.00 | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
74122997 | shares | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
68848272 | shares | |
CY2020Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
74122997 | shares |
CY2019Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
74122997 | shares |
CY2020Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-19331 | USD |
CY2020Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
43399 | USD |
CY2020Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
33685 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-7090 | USD |
CY2019Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-1853 | USD |
CY2019Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-3514 | USD |
CY2020Q3 | eoss |
Adjustments To Additional Paid In Capital Cancellation Of Contribution In Capital
AdjustmentsToAdditionalPaidInCapitalCancellationOfContributionInCapital
|
-125000 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
14582 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
65011 | USD | |
us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
-909448 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-13477 | USD | |
us-gaap |
Increase Decrease In Due To Officers And Stockholders
IncreaseDecreaseInDueToOfficersAndStockholders
|
8328 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-394364 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-24000 | USD | |
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
69810 | USD | |
us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
167918 | USD | |
us-gaap |
Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
|
33398 | USD | |
CY2019Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
4447 | USD | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
32425 | USD | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><strong><i>Concentration of Credit Risk</i></strong></span></span></span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="text-decoration:underline">Cash and cash equivalents</span>: The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments in high quality credit institutions in Taiwan, but these investments may be in excess of the insurance limits of Taiwan Central Deposit Insurance Corporation (the “TCDIC”). The Company does not enter into financial instruments for hedging, trading or speculative purposes. Concentration of credit risk with respect to trade and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. </span></span><span><span>As of September 30, 2020, the Company had approximately</span></span><span><span> $291 in excess of TCDIC insured limits. The Company has not experienced any losses in such accounts.</span></span></span></span></span></span></span></span></p></div> | ||
us-gaap |
Marketing Expense
MarketingExpense
|
187500 | USD |