$GHST
GHST World Inc.

2023 Q4 Form 10-K Financial Statement

#000155335023000446 Filed on October 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2023
Revenue $15.85K $3.078K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $324.5K $4.803K
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $397.3K $119.4K
YoY Change 1825.0% -20.75%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $761.00 -$227.00
YoY Change -80.81%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$380.7K -$116.6K
YoY Change 1744.5% -23.25%
Net Earnings / Revenue -2401.31% -3787.33%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 130.2M shares 125.2M shares 125.0M shares
Diluted Shares Outstanding 130.1M shares 125.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.058K $39.49K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.348K
Other Receivables
Total Short-Term Assets $7.406K $39.50K
YoY Change 1506.51% 19072.33%
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 $7.406K $39.50K
Total Long-Term Assets $0.00 $0.00
Total Assets $7.406K $39.50K
YoY Change -82.54% -74.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $241.2K $161.0K
YoY Change 178.58% 85.73%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $241.2K $161.0K
Total Long-Term Liabilities
Total Liabilities
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$13.81M -$13.37M
YoY Change 43.78% 41.95%
Common Stock $130.2K $125.7K
YoY Change 3.98% 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$233.8K -$121.5K
YoY Change
Total Liabilities & Shareholders Equity $7.406K $39.50K
YoY Change -82.54% -74.42%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$380.7K -$116.6K
YoY Change 1744.5% -23.25%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$93.31K
YoY Change -42.77%
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 $96.07K
YoY Change 18.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $132.6K
YoY Change -14.94%
NET CHANGE
Cash From Operating Activities -$93.31K
Cash From Investing Activities
Cash From Financing Activities $132.6K
Net Change In Cash $39.29K
YoY Change -649.94%
FREE CASH FLOW
Cash From Operating Activities -$93.31K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_z01r6JdWHYvh" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="xdx_86D_zSXqmg4iyew9">Concentrations</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash. The Company places its cash with financial institutions of high credit worthiness. At times, its cash with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it is a credit counterparty, and as such, it believes that any associated credit risk exposures are limited.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company currently receives all its revenues from one customer and all the deferred revenues from another customer. The company is dependent on it chairman of the Board for short term funding, who has provided a significant portion of the funding through June 30, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p>
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<p id="xdx_849_eus-gaap--UseOfEstimates_zoyNNwsEhXme" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="xdx_864_zOVY3PwqG0t7">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of 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 financial statements and the reported amounts of revenues and expenses during the reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Such estimates and assumptions impact, among others, the following: the valuation of due from a related party, the valuation of other assets and patents, the fair value of share-based payments and deferred taxes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p>
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On August 7, 2021, the board approved amending its articles of incorporation to reduce the number of authorized shares from 700,000,000 to 310,000,000
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On February 7, 2023, the Company entered into an agreement with a vendor to develop the technology associated with the Company’s patent for shin guards used in sports. The contract was for $46,000, but management decided to cancel the contract in favor of other potential vendors that the Company is studying closely. There was no accounting effect to this transaction.
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
-3987027 usd
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13254091 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-101006 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-163028 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
155884 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13370665 usd
CY2023 GHST Operating Loss Description
OperatingLossDescription
the Company has operating loss carryforwards of approximately $3.1 million from tax years beginning in 2007, that begin to expire in 2027. These operating losses are subject to the limitations which were enacted in the Tax Cuts and Jobs Act (“TCJA”).
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3100000 usd
CY2023Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
781000 usd
CY2023 GHST Effective Combined Federal And State Tax Rate
EffectiveCombinedFederalAndStateTaxRate
0.2535 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0550 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0550 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.0115 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.0115 pure
CY2023 GHST Effective Combined Federal And State Tax Rate
EffectiveCombinedFederalAndStateTaxRate
0.2535 pure
CY2023 GHST Effective Combined Federal And State Tax Rate
EffectiveCombinedFederalAndStateTaxRate
0.2535 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2535 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2535 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure

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