2024 Q3 Form 10-K Financial Statement

#000143774924028160 Filed on August 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q1 2024
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change
Gross Profit $0.00 $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $261.6K
YoY Change -46.65%
% of Gross Profit
Depreciation & Amortization $0.00 $620.00
YoY Change -98.99%
% of Gross Profit
Operating Expenses $369.9K $1.421M
YoY Change -30.16% -15.06%
Operating Profit -$157.8K -$369.9K -$1.421M
YoY Change -71.39% -30.16% -15.06%
Interest Expense -$97.16K -$219.0K
YoY Change 58.27% 22.57%
% of Operating Profit
Other Income/Expense, Net -$32.74K $0.00 $58.83K
YoY Change -127.92% -100.0% -41.17%
Pretax Income -$190.5K -$467.1K -$1.362M
YoY Change -56.12% -83.7% -66.99%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$190.5K -$476.1K -$1.362M
YoY Change -56.12% -83.38% -66.99%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 407.1M 406.1M 396.7M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.99K $11.99K
YoY Change -89.09% -89.09%
Cash & Equivalents $2.320K $11.99K $11.99K
Short-Term Investments
Other Short-Term Assets $91.45K $91.45K
YoY Change -54.18% -54.18%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $93.77K $103.4K $103.4K
YoY Change -59.96% -66.58% -66.58%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $93.77K $103.4K $103.4K
Total Long-Term Assets $0.00 $0.00
Total Assets $103.4K $103.4K
YoY Change -70.64% -70.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.140M $2.140M
YoY Change 7.95% 7.95%
Accrued Expenses $112.5K $0.00 $457.1K
YoY Change 48.75% -100.0% 8.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.437M $1.437M
YoY Change 2.95% 2.95%
Total Short-Term Liabilities $5.441M $5.096M $5.096M
YoY Change 12.14% 7.06% 7.06%
LONG-TERM LIABILITIES
Long-Term Debt $322.0K $322.0K
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $322.0K $322.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.441M $5.096M $5.096M
Total Long-Term Liabilities $322.0K $322.0K
Total Liabilities $5.873M $5.418M $5.418M
YoY Change 19.2% 13.82% 13.82%
SHAREHOLDERS EQUITY
Retained Earnings -$110.5M -$110.1M
YoY Change 1.03% 1.25%
Common Stock $40.82K $40.72K
YoY Change 1.07% 6.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.780M -$5.314M -$5.314M
YoY Change
Total Liabilities & Shareholders Equity $93.77K $103.4K $103.4K
YoY Change -59.96% -70.64% -70.64%

Cashflow Statement

Concept 2024 Q3 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$190.5K -$476.1K -$1.362M
YoY Change -56.12% -83.38% -66.99%
Depreciation, Depletion And Amortization $0.00 $620.00
YoY Change -98.99%
Cash From Operating Activities -$252.5K -$975.7K
YoY Change 14.82% -36.1%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $320.0K
YoY Change
Cash From Investing Activities $0.00 $320.0K
YoY Change -1111.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 247.0K $557.8K
YoY Change 342.97% -61.12%
NET CHANGE
Cash From Operating Activities -252.5K -$975.7K
Cash From Investing Activities 0.000 $320.0K
Cash From Financing Activities 247.0K $557.8K
Net Change In Cash -5.470K -$97.92K
YoY Change -96.67% -21.02%
FREE CASH FLOW
Cash From Operating Activities -$252.5K -$975.7K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$252.5K -$975.7K
YoY Change 14.82% -37.4%

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowances for doubtful accounts, collectability of notes receivable, valuation of initial right-of-use assets and corresponding lease liabilities, stock-based compensation expense, purchased intangible asset valuations, deferred income tax asset valuation allowances, uncertain tax positions, litigation, other loss contingencies, and impairment of long lived assets.  These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of costs and expenses that are <em style="font: inherit;">not</em> readily apparent from other sources. The actual results the Company experiences <em style="font: inherit;"> may </em>differ materially and adversely from these estimates.</p> <p style="margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"></p>
CY2024Q1 us-gaap Short Term Investments
ShortTermInvestments
0 usd
CY2024 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
261550 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
490291 usd
CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
173992145
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
167252135
CY2024Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1759307 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
-0 usd
CY2024Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1759307 usd
CY2024 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1060825 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
375964 usd
CY2024Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
52148929 usd
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
52661859 usd
CY2024Q1 gblx Operating Loss Carryforwards Subject To Expiration
OperatingLossCarryforwardsSubjectToExpiration
34481122 usd
CY2024Q1 gblx Operating Loss Carryforwards Not Subject To Expiration
OperatingLossCarryforwardsNotSubjectToExpiration
18180737 usd
CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-194971 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-182405 usd
CY2024 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
8508 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
9246 usd
CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
430270 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-756430 usd
CY2024 gblx Effective Income Tax Rate Reconciliation Adjustments To Valuation Of Deferred Tax Assets
EffectiveIncomeTaxRateReconciliationAdjustmentsToValuationOfDeferredTaxAssets
-243807 usd
CY2023 gblx Effective Income Tax Rate Reconciliation Adjustments To Valuation Of Deferred Tax Assets
EffectiveIncomeTaxRateReconciliationAdjustmentsToValuationOfDeferredTaxAssets
929589 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
102370 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
61960 usd
CY2024 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
102370 usd
CY2023 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
61960 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3191824 usd
CY2023Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3147724 usd
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
11058990 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
10934127 usd
CY2024Q1 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
0 usd
CY2023Q1 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
635250 usd
CY2024Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
-0 usd
CY2023Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1369 usd
CY2024Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
175067 usd
CY2023Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
209714 usd
CY2024Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
14075747 usd
CY2023Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
14506018 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
14075747 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
14506018 usd
CY2024Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2024 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
221650 usd
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
75124673
CY2023 gblx Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
56835004
CY2023 gblx Class Of Warrant Or Right Issued During Period Exercise Price
ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice
0.1
CY2023 gblx Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
-0
CY2023 gblx Class Of Warrant Or Right Exercised During Period Exercise Price
ClassOfWarrantOrRightExercisedDuringPeriodExercisePrice
CY2023 gblx Class Of Warrant Or Right Cancelled During Period
ClassOfWarrantOrRightCancelledDuringPeriod
9201000
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
122758677
CY2024 gblx Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
23006492
CY2024 gblx Class Of Warrant Or Right Issued During Period Exercise Price
ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice
0.01
CY2024 gblx Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
25348467
CY2024 gblx Class Of Warrant Or Right Exercised During Period Exercise Price
ClassOfWarrantOrRightExercisedDuringPeriodExercisePrice
0.01
CY2024 gblx Class Of Warrant Or Right Cancelled During Period
ClassOfWarrantOrRightCancelledDuringPeriod
38337538
CY2024 gblx Class Of Warrant Or Right Cancelled During Period Exercise Price
ClassOfWarrantOrRightCancelledDuringPeriodExercisePrice
0
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
82079164
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
23000000
CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.01
CY2024 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
219168 usd
CY2024 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
219168 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17333 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0 usd
CY2024 dei Auditor Name
AuditorName
Assurance Dimensions, Inc.
CY2024 dei Auditor Location
AuditorLocation
Coral Springs, FL
CY2024 dei Auditor Firm
AuditorFirmId
5036

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