2024 Q1 Form 10-Q Financial Statement

#000118518524000137 Filed on February 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $99.79K $20.00K $0.00
YoY Change
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change
Gross Profit $99.79K $20.00K $0.00
YoY Change
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $114.9K $79.40K $106.8K
YoY Change -13.89% -31.08% -3.51%
% of Gross Profit 115.1% 397.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $455.00 $450.00
YoY Change -100.0% 0.0% 0.0%
% of Gross Profit 0.0% 2.28%
Operating Expenses $114.8K $79.40K $106.8K
YoY Change -13.9% -31.08% -3.51%
Operating Profit -$15.06K -$59.40K -$106.8K
YoY Change -88.71% -48.44% -3.51%
Interest Expense $1.659K $1.349K -$1.360K
YoY Change -67.32% -68.47% -60.58%
% of Operating Profit
Other Income/Expense, Net -$1.659K -$1.349K
YoY Change -67.32% -68.47%
Pretax Income -$16.72K -$60.74K -$108.1K
YoY Change -87.92% -49.16% -4.64%
Income Tax $0.00 $2.400K $0.00
% Of Pretax Income
Net Earnings -$16.72K -$63.14K -$108.1K
YoY Change -87.92% -48.19% -4.64%
Net Earnings / Revenue -16.76% -315.72%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 66.37M shares 66.37M shares 66.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.05K $56.42K $26.59K
YoY Change -4.2% -16.51% -19.42%
Cash & Equivalents $38.05K $56.42K $26.59K
Short-Term Investments
Other Short-Term Assets $5.170K $8.920K $12.67K
YoY Change -1.34% 7.47% 5.41%
Inventory
Prepaid Expenses $5.168K $8.918K $12.67K
Receivables
Other Receivables
Total Short-Term Assets $43.22K $65.34K $39.26K
YoY Change -3.88% -13.89% -12.79%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $455.00
YoY Change -100.0% -100.0% -80.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $18.82K $25.70K $32.95K
YoY Change -60.13% -52.58% -46.08%
TOTAL ASSETS
Total Short-Term Assets $43.22K $65.34K $39.26K
Total Long-Term Assets $18.82K $25.70K $32.95K
Total Assets $62.03K $91.04K $72.21K
YoY Change -32.69% -30.01% -31.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $21.04K $27.96K $29.51K
YoY Change 640.32% -19.54% -3.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $1.780K $1.950K $1.940K
YoY Change -14.83% -13.33% -13.0%
Total Short-Term Liabilities $169.1K $180.7K $93.13K
YoY Change -32.2% 341.55% 147.87%
LONG-TERM LIABILITIES
Long-Term Debt $150.6K $151.2K $151.8K
YoY Change -70.06% -74.95% -66.57%
Other Long-Term Liabilities $0.00 $0.00 $5.040K
YoY Change -100.0% -100.0% -85.25%
Total Long-Term Liabilities $150.6K $151.2K $156.8K
YoY Change -71.2% -76.03% -67.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $169.1K $180.7K $93.13K
Total Long-Term Liabilities $150.6K $151.2K $156.8K
Total Liabilities $319.7K $331.9K $250.0K
YoY Change -58.61% -50.58% -52.46%
SHAREHOLDERS EQUITY
Retained Earnings -$7.989M -$7.972M -$7.909M
YoY Change 3.83% 5.51% 6.39%
Common Stock $66.37K $66.37K $66.37K
YoY Change 2.46% 2.46% 2.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$257.6K -$240.9K -$177.8K
YoY Change
Total Liabilities & Shareholders Equity $62.03K $91.04K $72.21K
YoY Change -32.69% -30.01% -31.96%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$16.72K -$63.14K -$108.1K
YoY Change -87.92% -48.19% -4.64%
Depreciation, Depletion And Amortization $0.00 $455.00 $450.00
YoY Change -100.0% 0.0% 0.0%
Cash From Operating Activities -$17.59K -$73.15K -$80.89K
YoY Change -86.16% -36.32% -29.33%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $574.00
YoY Change 4.36%
Cash From Financing Activities -780.0 $103.0K 85.40K
YoY Change -100.79% -31.1% -14.14%
NET CHANGE
Cash From Operating Activities -17.59K -$73.15K -80.89K
Cash From Investing Activities
Cash From Financing Activities -780.0 $103.0K 85.40K
Net Change In Cash -18.37K $29.83K 4.510K
YoY Change -34.04% -13.75% -130.07%
FREE CASH FLOW
Cash From Operating Activities -$17.59K -$73.15K -$80.89K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i><span style="text-decoration:underline">Reclassification</span></i></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Certain prior period’s accounts have been reclassified in conformity with current period’s presentation. These reclassifications had no effect on the reported results of operations.</p>
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1951 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1954 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2426 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2519 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2615 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2715 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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90923 usd
CY2023Q4 us-gaap Long Term Debt
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103152 usd
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1510000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
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1508511 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1490909 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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279836 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
279836 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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590 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
468 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1788937 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1771213 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
7193 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P0Y10M2D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M2D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.05 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q4 fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
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CY2022Q4 fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
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CY2023Q4 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0303 pure
CY2022Q4 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0497 pure
CY2023Q4 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
CY2022Q4 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0395 pure
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0201 pure
CY2023Q4 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
20000 usd
CY2022Q4 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0 usd
CY2021Q1 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
1000000 usd
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
7193 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
27885 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
685 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
27200 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27200 usd
CY2022Q4 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
0 usd
CY2023Q4 dei Amendment Flag
AmendmentFlag
false
CY2023Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2023Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q4 dei Entity Central Index Key
EntityCentralIndexKey
0001636051

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
fsnt-20231231_cal.xml Edgar Link unprocessable
fsnt-20231231_pre.xml Edgar Link unprocessable
fsnt-20231231_lab.xml Edgar Link unprocessable
fsnt-20231231_def.xml Edgar Link unprocessable
0001185185-24-000137-index-headers.html Edgar Link pending
0001185185-24-000137-index.html Edgar Link pending
0001185185-24-000137.txt Edgar Link pending
0001185185-24-000137-xbrl.zip Edgar Link pending
ex_622027.htm Edgar Link pending
ex_622028.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fsnt-20231231.xsd Edgar Link pending
fusegroup20231231_10q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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fusegroup20231231_10q_htm.xml Edgar Link completed
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report.css Edgar Link pending
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