$FDCT
FDCTECH, INC.

2023 Q3 Form 10-Q Financial Statement

#000149315223027798 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $3.647M $1.765M $1.857M
YoY Change 138.34% 15.68% 684.52%
Cost Of Revenue $1.336M $1.322M $1.357M
YoY Change 0.32% -3.52% 547.7%
Gross Profit $2.311M $442.7K $499.5K
YoY Change 1063.13% 185.36% 1741.63%
Gross Profit Margin 63.37% 25.08% 26.9%
Selling, General & Admin $1.619M $496.8K $582.9K
YoY Change 310.23% -5.55% -26.19%
% of Gross Profit 70.04% 112.24% 116.7%
Research & Development $0.00 $0.00
YoY Change
% of Gross Profit 0.0% 0.0%
Depreciation & Amortization $0.00 $3.470K $19.03K
YoY Change -100.0% -94.26% -72.26%
% of Gross Profit 0.0% 0.78% 3.81%
Operating Expenses $1.619M $496.8K $582.9K
YoY Change 310.23% -5.55% -26.19%
Operating Profit $692.4K -$54.18K -$83.42K
YoY Change -453.42% -85.39% -89.06%
Interest Expense -$10.00K -$1.450K -$18.28K
YoY Change -53.53% -86.26% 112.06%
% of Operating Profit -1.44%
Other Income/Expense, Net -$11.41K $976.5K $190.00
YoY Change -46.97% -9365.82% -98.47%
Pretax Income $681.0K $922.3K -$101.5K
YoY Change -413.18% -341.78% -86.62%
Income Tax $0.00
% Of Pretax Income
Net Earnings $638.1K $922.3K -$128.0K
YoY Change -382.26% -379.31% -83.2%
Net Earnings / Revenue 17.5% 52.25% -6.9%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 333.6M shares 333.6M shares 148.0M shares
Diluted Shares Outstanding 333.6M shares 333.6M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.230M $127.1K $264.8K
YoY Change 399.88% -5.8% 183.09%
Cash & Equivalents $1.232M $127.1K $264.8K
Short-Term Investments
Other Short-Term Assets $1.037M $1.142M $435.8K
YoY Change 228.51% 187.84% -11.86%
Inventory
Prepaid Expenses $226.6K
Receivables $1.634M $2.858M $65.58K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.903M $4.127M $821.2K
YoY Change 479.51% 540.18% 34.81%
LONG-TERM ASSETS
Property, Plant & Equipment $2.970M $2.604M $2.647M
YoY Change 8063.38% 6416.76% 5650.52%
Goodwill
YoY Change
Intangibles $2.616M $2.601M $2.647M
YoY Change -0.01% -0.25% 3.39%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $4.663M $3.536M $3.446M
YoY Change 35.23% 6.94% 5.1%
TOTAL ASSETS
Total Short-Term Assets $3.903M $4.127M $821.2K
Total Long-Term Assets $4.663M $3.536M $3.446M
Total Assets $8.565M $7.663M $4.268M
YoY Change 107.82% 93.96% 9.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $530.8K $519.5K $429.5K
YoY Change 21.6% 29.7% -3.53%
Accrued Expenses $240.0K $226.8K $204.8K
YoY Change 23.11% 22.56% 24.06%
Deferred Revenue
YoY Change
Short-Term Debt $400.0K $400.3K $597.4K
YoY Change -32.38% -31.45% 396.77%
Long-Term Debt Due $30.00K $32.64K $40.14K
YoY Change -28.4% -29.64% -13.47%
Total Short-Term Liabilities $1.691M $1.820M $1.371M
YoY Change 20.46% 31.46% 69.66%
LONG-TERM LIABILITIES
Long-Term Debt $120.0K $126.9K $131.2K
YoY Change -12.77% -9.13% -8.86%
Other Long-Term Liabilities $30.00K $17.39K $14.70K
YoY Change 124.55% 44.8% 59.44%
Total Long-Term Liabilities $150.0K $144.3K $145.9K
YoY Change -0.61% -4.86% -4.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.691M $1.820M $1.371M
Total Long-Term Liabilities $150.0K $144.3K $145.9K
Total Liabilities $2.185M $2.313M $1.517M
YoY Change 40.53% 50.61% 57.8%
SHAREHOLDERS EQUITY
Retained Earnings -$2.969M -$3.650M -$4.335M
YoY Change -29.41% -8.29% 34.18%
Common Stock $33.36K $33.36K $21.13K
YoY Change 82.26% 125.36% 48.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.405M $2.725M $1.406M
YoY Change
Total Liabilities & Shareholders Equity $8.565M $7.663M $4.268M
YoY Change 107.82% 93.96% 9.75%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income $638.1K $922.3K -$128.0K
YoY Change -382.26% -379.31% -83.2%
Depreciation, Depletion And Amortization $0.00 $3.470K $19.03K
YoY Change -100.0% -94.26% -72.26%
Cash From Operating Activities $820.0K -$1.547M -$244.9K
YoY Change 496.88% 4705.72% -90.3%
INVESTING ACTIVITIES
Capital Expenditures $50.00K $87.70K $95.60K
YoY Change -210.62% -231.88% -209.51%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$50.00K -$87.70K -$95.60K
YoY Change 10.62% 31.88% -107.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 350.0K 1.622M 359.2K
YoY Change 1742.11% -2631.81% -73.34%
NET CHANGE
Cash From Operating Activities 820.0K -1.547M -244.9K
Cash From Investing Activities -50.00K -87.70K -95.60K
Cash From Financing Activities 350.0K 1.622M 359.2K
Net Change In Cash 1.120M -12.78K 18.76K
YoY Change 907.38% -92.15% -78.99%
FREE CASH FLOW
Cash From Operating Activities $820.0K -$1.547M -$244.9K
Capital Expenditures $50.00K $87.70K $95.60K
Free Cash Flow $770.0K -$1.635M -$340.5K
YoY Change 321.73% -4864.38% -86.03%

Facts In Submission

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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
333584729 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
333584729 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
148025550 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
148025550 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
316587950 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
316587950 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
147369598 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
147369598 shares
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
1515708 usd
CY2022Q2 FDCT Adjustments To Accumulated Deficit Net Loss
AdjustmentsToAccumulatedDeficitNetLoss
-29496 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-6169 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-330227 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1149816 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
1804178 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-1757 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
922343 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2724764 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
1625448 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
31250 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
93750 usd
FDCT Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
25000 usd
FDCT Stock Issued During Period Value New Issues Two
StockIssuedDuringPeriodValueNewIssuesTwo
20385 usd
FDCT Stock Issued During Period Value Issued For Financing Cost
StockIssuedDuringPeriodValueIssuedForFinancingCost
71521 usd
FDCT Stock Issued During Period Value New Issues Three
StockIssuedDuringPeriodValueNewIssuesThree
17800 usd
FDCT Stock Issued During Period Value New Issues Four
StockIssuedDuringPeriodValueNewIssuesFour
19750 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-6169 usd
us-gaap Net Income Loss
NetIncomeLoss
-748918 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1149816 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
1405835 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
1405835 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
60525 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
60525 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
550000 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
550000 usd
FDCT Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
26000 usd
FDCT Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
26000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
2764 usd
us-gaap Net Income Loss
NetIncomeLoss
685168 usd
us-gaap Net Income Loss
NetIncomeLoss
685168 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2724764 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2724764 usd
us-gaap Net Income Loss
NetIncomeLoss
685168 usd
us-gaap Net Income Loss
NetIncomeLoss
-748918 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
22503 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
120988 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
60525 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
165271 usd
FDCT Acquired Tangible Assets
AcquiredTangibleAssets
-2106 usd
FDCT Acquired Tangible Assets
AcquiredTangibleAssets
-6067 usd
FDCT Acquired Intangible Assets
AcquiredIntangibleAssets
-45815 usd
FDCT Acquired Intangible Assets
AcquiredIntangibleAssets
47472 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2791998 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16000 usd
us-gaap Increase Decrease In Intangible Assets Current
IncreaseDecreaseInIntangibleAssetsCurrent
3096 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
89950 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-44715 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
541144 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
137107 usd
FDCT Increase Decrease In Debt Issuance Cost
IncreaseDecreaseInDebtIssuanceCost
-20719 usd
FDCT Increase Decrease In Original Issue Discount Promissory Note
IncreaseDecreaseInOriginalIssueDiscountPromissoryNote
55000 usd
FDCT Increase Decrease In Original Issue Discount Promissory Note
IncreaseDecreaseInOriginalIssueDiscountPromissoryNote
-55000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Financial Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialAssets
741231 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
706685 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-120043 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2682 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2781 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
21951 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
19937 usd
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
349326 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1625609 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-360630 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
156609 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
129025 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-156609 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-129025 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
2941 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-5268 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-550000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
550000 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
-11748 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
-4253 usd
FDCT Proceeds From Acquisition Loan
ProceedsFromAcquisitionLoan
350000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
576000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
114185 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
81000 usd
FDCT Increase Decrease In Noncontrolling Interest
IncreaseDecreaseInNoncontrollingInterest
-1277253 usd
FDCT Increase Decrease In Noncontrolling Interest
IncreaseDecreaseInNoncontrollingInterest
36499 usd
FDCT Payments Forex Gain Loss On Consolidation
PaymentsForexGainLossOnConsolidation
6169 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1644446 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
530997 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-137772 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
41342 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
264829 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
93546 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
127057 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
134888 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
24510 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
2715888 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
3096 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
482022 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities
349326 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
2653377 usd
CY2023Q2 FDCT Business Combination Acquisition Purchase Price
BusinessCombinationAcquisitionPurchasePrice
350000 usd
CY2023Q2 us-gaap Business Combination Acquisition Of Less Than100 Percent Noncontrolling Interest Fair Value
BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue
1324035 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest
979342 usd
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zQMpOjslclw2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zenvK94o6jrf">Financial Statement Preparation and Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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 periods presented. 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
127057 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
264829 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
136487 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
123987 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10500 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
41823 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
239448 usd
CY2017 FDCT Proceeds From Sale Of Source Code
ProceedsFromSaleOfSourceCode
160000 usd
CY2017 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
160000 usd
CY2017 FDCT Software Developments Revenue Wroteoff
SoftwareDevelopmentsRevenueWroteoff
18675 usd
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
The Company receives $75 per hour for the first 100 hours/month of approved development services and $45 per hour for all services over 100 hours per month. The Company invoices the Customer for all development services rendered, and any cash received for the development services is non-refundable
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zs5YuAEIRyS6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zFpogDUXQfM7">Concentrations of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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 are within FDIC limits as of June 30, 2023, and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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_90D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20230630__srt--ProductOrServiceAxis__custom--TechnologyAndSoftwareMember_z4LH2zbsIwpd" title="Revenue from contract with customer excluding assessed tax">474,565</span> and $<span id="xdx_909_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20220101__20220630__srt--ProductOrServiceAxis__custom--TechnologyAndSoftwareMember_zHMRZN9Fi0Ia" title="Revenue from contract with customer excluding assessed tax">156,500</span> for the six months ended June 30, 2023, and 2022. For the six months ended June 30, 2023, and 2022, the Company had thirteen (13) and six (6) active customers, which is the main reason for the increase in revenue. Revenues generated from the top three (3) customers represented approximately <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopThreeCustomersMember_zJQkXmxI8rL3" title="Sales percentage">68.59</span>% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopThreeCustomersMember_z6cBDGMPKfB2" title="Sales percentage">86.41</span>% of Technology and Software revenue for the six months ended June 30, 2023, and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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_909_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20230101__20230630__srt--ProductOrServiceAxis__custom--WealthManagementMember_zoUEEpQzPRs3" title="Revenue from contract with customer excluding assessed tax">2,836,271</span> in revenue from 28 advisors for the six months ending June 30, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At June 30, 2023, and December 31, 2022, the Management determined that allowance for doubtful accounts was $<span id="xdx_907_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_c20230630_zQTsB5Y5TgL1" title="Allowances for accounts receivable">136,487</span> and $<span id="xdx_907_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_c20221231_zFsWc1g7Lmo5" title="Allowances for accounts receivable">123,987</span>, respectively. There was $<span id="xdx_90E_eus-gaap--ProvisionForDoubtfulAccounts_pp0p0_c20230101__20230630_zvHHU4CKDHo5" title="Provision for doubtful accounts">10,500</span> and $<span id="xdx_900_eus-gaap--ProvisionForDoubtfulAccounts_pp0p0_dxL_c20220101__20220630_zNEESHLfJNue" title="Provision for doubtful accounts::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0951">0</span></span> bad debt expense for the six months ended June 30, 2023, and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
136487 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
123987 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10500 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
22503 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
120988 usd
CY2021 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
15600 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
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
333584729 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
211275550 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84D_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zRd1nH7EoZ07" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zaj6A9E2Q60f">Reclassifications</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2020Q1 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
2550003 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3649885 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4335053 usd
CY2023Q2 FDCT Working Capital Deficit
WorkingCapitalDeficit
2307322 usd
CY2022Q4 FDCT Working Capital Deficit
WorkingCapitalDeficit
550098 usd
us-gaap Profit Loss
ProfitLoss
685168 usd
CY2023Q2 us-gaap Cash
Cash
127057 usd
CY2022Q4 us-gaap Cash
Cash
264829 usd
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
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2022Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2023Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1743599 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1586989 usd
CY2023Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
847850 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
825347 usd
CY2023Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
895748 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
761642 usd
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
50310 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
47369 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
us-gaap Payments For Rent
PaymentsForRent
12790 usd
us-gaap Payments For Rent
PaymentsForRent
14602 usd
CY2020Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
From February 2020, this agreement continues every year upon written request by the Company. The Company uses the office for sales and marketing in Europe and Asia.
CY2022Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P11M
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
500 usd
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P1M
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
17386 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
14703 usd
CY2021Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
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
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
333584729 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
333584729 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
211275550 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
211275550 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4000000 shares
CY2023Q2 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 Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
33000 shares
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
4950 usd
CY2019Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
115000000 shares
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
550000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
2000000 shares
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
20000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
653332 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.30
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
653332 shares
CY2022 FDCT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instrument Expiration Date Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentExpirationDateDescription
April 2019

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