2022 Q4 Form 10-Q Financial Statement

#000149315222030416 Filed on November 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $1.857M $1.530M $73.93K
YoY Change 684.52% 1969.7% 71.93%
Cost Of Revenue $1.357M $1.331M $68.62K
YoY Change 547.7% 1840.29% 0.0%
Gross Profit $499.5K $198.7K $5.310K
YoY Change 1741.63% 3642.03% -120.73%
Gross Profit Margin 26.9% 12.99% 7.18%
Selling, General & Admin $582.9K $394.6K $492.4K
YoY Change -26.19% -19.85% 4111.89%
% of Gross Profit 116.7% 198.59% 9272.5%
Research & Development $0.00
YoY Change
% of Gross Profit 0.0%
Depreciation & Amortization $19.03K $19.03K $68.62K
YoY Change -72.26% -72.27% 0.01%
% of Gross Profit 3.81% 9.58% 1292.28%
Operating Expenses $582.9K $394.6K $492.4K
YoY Change -26.19% -19.85% 4111.8%
Operating Profit -$83.42K -$195.9K -$487.1K
YoY Change -89.06% -59.78% 1205.41%
Interest Expense -$18.28K -$21.52K -$1.450K
YoY Change 112.06% 1384.14% -91.16%
% of Operating Profit
Other Income/Expense, Net $190.00 -$21.52K -$1.890K
YoY Change -98.47% 1038.84% -625.0%
Pretax Income -$101.5K -$217.4K -$490.4K
YoY Change -86.62% -55.66% 819.19%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$128.0K -$226.1K -$490.4K
YoY Change -83.2% -53.9% 819.19%
Net Earnings / Revenue -6.9% -14.77% -663.32%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$1.417K -$5.546K
COMMON SHARES
Basic Shares Outstanding 148.0M shares 148.0M shares 88.42M shares
Diluted Shares Outstanding 159.6M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $264.8K $246.1K $4.250K
YoY Change 183.09% 5689.65% -92.8%
Cash & Equivalents $264.8K $246.1K $4.251K
Short-Term Investments
Other Short-Term Assets $435.8K $315.7K $702.4K
YoY Change -11.86% -55.05% 2537.74%
Inventory
Prepaid Expenses $226.6K
Receivables $65.58K $56.65K $49.50K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $821.2K $673.4K $756.2K
YoY Change 34.81% -10.94% 648.54%
LONG-TERM ASSETS
Property, Plant & Equipment $2.647M $36.38K
YoY Change 5650.52%
Goodwill
YoY Change
Intangibles $2.647M $2.616M
YoY Change 3.39%
Long-Term Investments
YoY Change
Other Assets $110.5K $86.32K
YoY Change 27.99%
Total Long-Term Assets $3.446M $3.448M $718.5K
YoY Change 5.1% 379.91% 9.39%
TOTAL ASSETS
Total Short-Term Assets $821.2K $673.4K $756.2K
Total Long-Term Assets $3.446M $3.448M $718.5K
Total Assets $4.268M $4.122M $1.475M
YoY Change 9.75% 179.49% 94.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $429.5K $436.5K $351.0K
YoY Change -3.53% 24.35% 556.11%
Accrued Expenses $204.8K $194.9K $155.2K
YoY Change 24.06% 25.61% -56.51%
Deferred Revenue
YoY Change
Short-Term Debt $597.4K $591.6K $134.6K
YoY Change 396.77% 339.48% -87.0%
Long-Term Debt Due $40.14K $41.90K $46.39K
YoY Change -13.47% -9.68% 101.0%
Total Short-Term Liabilities $1.371M $1.404M $687.2K
YoY Change 69.66% 104.3% -53.22%
LONG-TERM LIABILITIES
Long-Term Debt $131.2K $137.6K $146.1K
YoY Change -8.86% -5.83% -15.3%
Other Long-Term Liabilities $14.70K $13.36K $7.800K
YoY Change 59.44% 71.28% 233.33%
Total Long-Term Liabilities $145.9K $150.9K $153.9K
YoY Change -4.75% -1.92% -11.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.371M $1.404M $687.2K
Total Long-Term Liabilities $145.9K $150.9K $153.9K
Total Liabilities $1.517M $1.555M $841.1K
YoY Change 57.8% 84.87% -48.84%
SHAREHOLDERS EQUITY
Retained Earnings -$4.335M -$4.206M
YoY Change 34.18%
Common Stock $21.13K $18.30K
YoY Change 48.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.406M $1.284M $633.6K
YoY Change
Total Liabilities & Shareholders Equity $4.268M $4.122M $1.475M
YoY Change 9.75% 179.49% 94.58%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$128.0K -$226.1K -$490.4K
YoY Change -83.2% -53.9% 819.19%
Depreciation, Depletion And Amortization $19.03K $19.03K $68.62K
YoY Change -72.26% -72.27% 0.01%
Cash From Operating Activities -$244.9K $137.4K -$201.7K
YoY Change -90.3% -168.09% 1218.63%
INVESTING ACTIVITIES
Capital Expenditures $95.60K -$45.20K -$45.30K
YoY Change -209.51% -0.22% -4.23%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$95.60K -$45.20K -$45.30K
YoY Change -107.54% -0.22% -4.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 359.2K 19.00K 248.8K
YoY Change -73.34% -92.36% -8678.62%
NET CHANGE
Cash From Operating Activities -244.9K 137.4K -201.7K
Cash From Investing Activities -95.60K -45.20K -45.30K
Cash From Financing Activities 359.2K 19.00K 248.8K
Net Change In Cash 18.76K 111.2K 1.730K
YoY Change -78.99% 6326.59% -102.64%
FREE CASH FLOW
Cash From Operating Activities -$244.9K $137.4K -$201.7K
Capital Expenditures $95.60K -$45.20K -$45.30K
Free Cash Flow -$340.5K $182.6K -$156.4K
YoY Change -86.03% -216.7% -588.91%

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WeightedAverageNumberOfSharesOutstandingBasic
83150225 shares
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1160822 usd
CY2021Q3 us-gaap Share Price
SharePrice
0.22
CY2021Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
22000 usd
CY2021Q3 FDCT Share Price One
SharePriceOne
0.18
CY2021Q3 FDCT Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
98253 usd
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.10
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
200000 usd
CY2021Q3 FDCT Shares Issued Price Per Share For Financing Cost
SharesIssuedPricePerShareForFinancingCost
0.12
CY2021Q3 FDCT Stock Issued During Period Value Issued For Financing Cost
StockIssuedDuringPeriodValueIssuedForFinancingCost
80400 usd
CY2021Q3 FDCT Share Price Two
SharePriceTwo
0.25
CY2021Q3 FDCT Stock Issued During Period Value Issued For Services Two
StockIssuedDuringPeriodValueIssuedForServicesTwo
-437500 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-490391 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
633584 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1149816 usd
CY2021Q3 FDCT Shares Issued Price Per Share One
SharesIssuedPricePerShareOne
0.01
CY2022Q3 FDCT Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
300000 usd
CY2021Q3 FDCT Share Price Three
SharePriceThree
0.012
CY2022Q3 FDCT Stock Issued During Period Value Issued For Services Three
StockIssuedDuringPeriodValueIssuedForServicesThree
60000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-226065 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1283751 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-1038044 usd
CY2021Q3 FDCT Share Price Four
SharePriceFour
0.27
FDCT Stock Issued During Period Value Issued For Services Four
StockIssuedDuringPeriodValueIssuedForServicesFour
621000 usd
CY2021Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.10
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1256908 usd
CY2021Q3 FDCT Share Price Five
SharePriceFive
0.20
FDCT Stock Issued During Period Value Issued For Services Five
StockIssuedDuringPeriodValueIssuedForServicesFive
350000 usd
CY2021Q3 FDCT Share Price Two
SharePriceTwo
0.25
FDCT Stock Issued During Period Value Issued For Services Two
StockIssuedDuringPeriodValueIssuedForServicesTwo
437500 usd
CY2021Q3 FDCT Share Price Six
SharePriceSix
0.21
CY2021Q3 us-gaap Share Price
SharePrice
0.22
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
22000 usd
CY2021Q3 FDCT Share Price One
SharePriceOne
0.18
FDCT Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
98253 usd
CY2021Q3 FDCT Shares Issued Price Per Share Two
SharesIssuedPricePerShareTwo
0.10
FDCT Stock Issued During Period Value New Issues Two
StockIssuedDuringPeriodValueNewIssuesTwo
200000 usd
CY2021Q3 FDCT Shares Issued Price Per Share For Financing Cost
SharesIssuedPricePerShareForFinancingCost
0.12
FDCT Stock Issued During Period Value Issued For Financing Cost
StockIssuedDuringPeriodValueIssuedForFinancingCost
80400 usd
CY2021Q3 FDCT Share Price Seven
SharePriceSeven
0.25
FDCT Stock Issued During Period Value Issued For Services Seven
StockIssuedDuringPeriodValueIssuedForServicesSeven
-437500 usd
us-gaap Net Income Loss
NetIncomeLoss
-977933 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
633584 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
1625448 usd
CY2022Q3 FDCT Shares Issued Price Per Share Three
SharesIssuedPricePerShareThree
0.0625
FDCT Stock Issued During Period Value New Issues Three
StockIssuedDuringPeriodValueNewIssuesThree
31250 usd
CY2022Q3 FDCT Share Price Eight
SharePriceEight
0.0625
FDCT Stock Issued During Period Value Issued For Services Eight
StockIssuedDuringPeriodValueIssuedForServicesEight
93750 usd
CY2022Q3 FDCT Shares Issued Price Per Share Four
SharesIssuedPricePerShareFour
0.05
FDCT Stock Issued During Period Value New Issues Four
StockIssuedDuringPeriodValueNewIssuesFour
25000 usd
CY2022Q3 FDCT Shares Issued Price Per Share Five
SharesIssuedPricePerShareFive
0.0408
FDCT Stock Issued During Period Value New Issues Five
StockIssuedDuringPeriodValueNewIssuesFive
20385 usd
CY2022Q3 FDCT Shares Issued Price Per Share For Financing Cost Two
SharesIssuedPricePerShareForFinancingCostTwo
0.0323
FDCT Stock Issued During Period Value Issued For Financing Cost Two
StockIssuedDuringPeriodValueIssuedForFinancingCostTwo
71521 usd
CY2022Q3 FDCT Shares Issued Price Per Share Six
SharesIssuedPricePerShareSix
0.0356
FDCT Stock Issued During Period Value New Issues Six
StockIssuedDuringPeriodValueNewIssuesSix
17800 usd
CY2022Q3 FDCT Shares Issued Price Per Share Seven
SharesIssuedPricePerShareSeven
0.0395
FDCT Stock Issued During Period Value New Issues Seven
StockIssuedDuringPeriodValueNewIssuesSeven
19750 usd
FDCT Forex Gain Loss On Consolidation
ForexGainLossOnConsolidation
-6169 usd
CY2022Q3 FDCT Shares Issued Price Per Share One
SharesIssuedPricePerShareOne
0.01
FDCT Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
300000 usd
CY2022Q3 FDCT Share Price Three
SharePriceThree
0.012
FDCT Stock Issued During Period Value Issued For Services Three
StockIssuedDuringPeriodValueIssuedForServicesThree
60000 usd
us-gaap Net Income Loss
NetIncomeLoss
-974984 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1283751 usd
us-gaap Net Income Loss
NetIncomeLoss
-974984 usd
us-gaap Net Income Loss
NetIncomeLoss
-977933 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
140019 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
205847 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
525271 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1192653 usd
FDCT Acquired Tangible Assets
AcquiredTangibleAssets
-9641 usd
FDCT Acquired Intangible Assets
AcquiredIntangibleAssets
56458 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
35500 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
32957 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8715 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
234515 usd
FDCT Increase Decrease In Subscription Receivable
IncreaseDecreaseInSubscriptionReceivable
-200000 usd
FDCT Increase Decrease In Original Issue Discount Promissory Note
IncreaseDecreaseInOriginalIssueDiscountPromissoryNote
-55000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
107730 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-90775 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
560869 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
4139 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
3943 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
29829 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
29816 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-223252 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-104985 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
174225 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
205700 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-174225 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-205700 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
2331 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
543 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
550000 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
-10876 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
-3074 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-81000 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
95000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
114185 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
200000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
18476 usd
FDCT Payments Forex Gain Loss On Consolidation
PaymentsForexGainLossOnConsolidation
6169 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
549995 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
292469 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
152518 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18216 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
93546 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22467 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
246064 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4251 usd
us-gaap Stock Issued1
StockIssued1
1256908 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
246064 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93546 usd
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
68616 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zp3GRWWAgpMd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zLQ15LGxIYR9">Financial Statement Preparation and Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company prepared consolidated financial statements according to accounting principles generally accepted in the United States of America (“GAAP”). The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments, and assumptions. This could affect the reported amounts of assets and liabilities, the related disclosures at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the presented periods. Estimates include revenue recognition, the allowance for doubtful accounts, website and internal-use software development costs, recoverability of intangible assets with finite lives, and other long-lived assets. Actual results could materially differ from these estimates. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to the coronavirus (“COVID-19”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
246064 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93546 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
117487 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
117487 usd
CY2022Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
69692 usd
CY2021Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
277327 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
309140 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
499320 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_zkWEEcMm4Vw6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zFt3tSx0TFZd">Concentrations of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Cash</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains its cash balances at a single financial institution. The account balances do not exceed FDIC limits as of September 30, 2022, and December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Revenues</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three months ended September 30, 2022</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology &amp; Software Revenue – The Company generated Technology &amp; Software Revenue of $<span id="xdx_90F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20220701__20220930__srt--ProductOrServiceAxis__custom--TechnologyAndSoftwareMember_ziQCn5bmZoEf" title="Revenue from contract with customer excluding assessed tax">92,500</span> and $<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210701__20210930__srt--ProductOrServiceAxis__custom--TechnologyAndSoftwareMember_z8ifZWl660Vc" title="Revenue from contract with customer excluding assessed tax">73,925</span> for the three months ended September 30, 2022, and 2021. For the three-month ended September 30, 2022, and 2021, the Company had six (6) and six (6) active customers. Revenues from the top three (3) customers represented approximately <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220701__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopThreeCustomersMember_ztIg9Zea3lu3" title="Sales percentage">85.71</span>% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210701__20210930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopThreeCustomersMember_zXnxqoI2plnh" title="Sales percentage">89.36</span>% of Technology and Software revenue for the three months that ended September 30, 2022, and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wealth Management Revenue – the Company’s subsidiary ADS generated $<span id="xdx_90C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20220701__20220930__srt--ProductOrServiceAxis__custom--WealthManagementMember_zcg6V0iclOw4" title="Revenue from contract with customer excluding assessed tax">1,437,626</span> in revenue from 28 advisors for the three-month ended September 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nine months ended September 30, 2022</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology &amp; Software Revenue – The Company generated Technology &amp; Software Revenue of $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20220101__20220930__srt--ProductOrServiceAxis__custom--TechnologyAndSoftwareMember_zLw51oqdWmQc" title="Revenue from contract with customer excluding assessed tax">249,000</span> and $<span id="xdx_902_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--TechnologyAndSoftwareMember_pp0p0" title="Revenue from contract with customer excluding assessed tax">221,003</span> for the nine months ended September 30, 2022, and 2021. For the nine months ended September 30, 2022, and 2021, the Company had seven (7) and six (6) active customers. Revenues from the top three (3) customers represented approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopThreeCustomersMember_zWd7oE2svvYb" title="Sales percentage">86.16</span>% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20210930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopThreeCustomersMember_zNb17gIkOtm5" title="Sales percentage">78.15</span>% of Technology and Software revenue for the three months that ended September 30, 2022, and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wealth Management Revenue – the Company’s subsidiary ADS generated $<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20220101__20220930__srt--ProductOrServiceAxis__custom--WealthManagementMember_zGGiQBJeMIo4" title="Revenue from contract with customer excluding assessed tax">4,348,097</span> in revenue from 28 advisors for the three-month ended September 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Accounts Receivable</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts Receivable primarily represents the amount due from three (3) active technology customers. In some cases, the customer receivables are due immediately on demand; however, in most cases, the Company offers net 30 terms or n/30, where the payment is due in full 30 days after the invoice’s date. The Company has based the allowance for doubtful accounts on its assessment of the collectability of customer accounts. The Company regularly reviews the allowance by considering historical experience, credit quality, the accounts receivable balances’ age, and economic conditions that may affect a customer’s ability to pay and expected default frequency rates. Trade receivables are written off at the point when they are considered uncollectible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At September 30, 2022, and December 31, 2021, the Management determined that the allowance for doubtful accounts was $<span id="xdx_90C_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20220930_zw6hVXj6rYDj" title="Allowances for accounts receivable">117,487</span> and $<span id="xdx_902_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20211231_zxT7SwWqUAP6" title="Allowances for accounts receivable">117,487</span>, respectively. There was <span id="xdx_901_eus-gaap--ProvisionForDoubtfulAccounts_pp0p0_do_c20220701__20220930_zq5vnlznolS2" title="Provision for doubtful accounts"><span id="xdx_90C_eus-gaap--ProvisionForDoubtfulAccounts_pp0p0_do_c20210701__20210930_zxQ2nSKsFZCf" title="Provision for doubtful accounts">no</span></span> bad debt expense for the Three Months ended September 30, 2022, and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
117487 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
117487 usd
CY2022Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2021Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
140019 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
205847 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1800 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15600 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2022Q3 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
19032 usd
CY2017 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
97996 usd
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
97996 usd
FDCT Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
148525500 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
148525500 shares
CY2021 FDCT Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
141811264 shares
CY2021 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
141811264 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_847_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zUcvcmnoOf59" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zURCrRTgWloa">Reclassifications</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have reclassified certain prior period amounts to conform to the current year’s presentation. None of these classifications impacted reported operating loss or net loss for any period presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"/> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4205663 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3230679 usd
CY2022Q3 FDCT Working Capital Deficit
WorkingCapitalDeficit
730545 usd
CY2021Q4 FDCT Working Capital Deficit
WorkingCapitalDeficit
199132 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-217432 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-490391 usd
us-gaap Profit Loss
ProfitLoss
-1002849 usd
us-gaap Profit Loss
ProfitLoss
-977933 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
246064 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93546 usd
CY2022Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2021Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2022Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1491383 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1317158 usd
CY2022Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
806315 usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
460450 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
685067 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
650862 usd
CY2022Q3 us-gaap Line Of Credit
LineOfCredit
41577 usd
CY2021Q4 us-gaap Line Of Credit
LineOfCredit
39246 usd
CY2020Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
1000000 usd
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
256908 usd
CY2019Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
1000000 usd
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
196908 usd
CY2020Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.06 pure
CY2020 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.10 pure
us-gaap Payments For Rent
PaymentsForRent
20323 usd
us-gaap Payments For Rent
PaymentsForRent
22765 usd
CY2019Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P11M
CY2019Q2 us-gaap Payments For Rent
PaymentsForRent
500 usd
CY2021Q1 us-gaap Shares Issued
SharesIssued
260000000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
183025550 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
183025550 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
141811264 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
141811264 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4000000 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4000000 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4000000 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4000000 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1000000 shares
CY2017Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
50000 usd
CY2019Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
33000 shares
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4950 usd
CY2019Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2967000 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
30000000 shares
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
300000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
653332 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
653332 shares
FDCT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instrument Expiration Date Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentExpirationDateDescription
April 2019

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