$GLCP
GLOBAL LEADERS CORP

2023 Q2 Form 10-Q Financial Statement

#000149315223020653 Filed on June 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q2
Revenue $2.560K
YoY Change
Cost Of Revenue $1.536K
YoY Change
Gross Profit $0.00 $1.024K
YoY Change -100.0%
Gross Profit Margin 40.0%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $138.3K $192.4K
YoY Change 660.89%
Operating Profit -$138.3K -$192.4K -$14.27K
YoY Change 869.16%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$192.4K
YoY Change 660.89%
Income Tax
% Of Pretax Income
Net Earnings -$138.3K -$192.4K -$14.27K
YoY Change 869.16% 602.02%
Net Earnings / Revenue -557.27%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 154.4M shares 154.4M shares 153.7M shares
Diluted Shares Outstanding 154.4M shares 154.4M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $150.4K $250.5K $4.629K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $623.00 $33.95K
Receivables
Other Receivables
Total Short-Term Assets $151.0K $285.6K
YoY Change
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
TOTAL ASSETS
Total Short-Term Assets $151.0K $285.6K
Total Long-Term Assets $0.00 $0.00
Total Assets $151.0K $285.6K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.822K $215.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.15K $6.544K
YoY Change
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 $10.15K $6.544K
Total Long-Term Liabilities
Total Liabilities
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$1.302M -$1.164M
YoY Change
Common Stock $15.44K $15.44K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $140.8K $279.1K -$132.9K
YoY Change
Total Liabilities & Shareholders Equity $151.0K $285.6K
YoY Change

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q2
OPERATING ACTIVITIES
Net Income -$138.3K -$192.4K -$14.27K
YoY Change 869.16% 602.02%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$235.3K
YoY Change 149.54%
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
YoY Change
Cash From Financing Activities $485.0K
YoY Change 464.81%
NET CHANGE
Cash From Operating Activities -$235.3K
Cash From Investing Activities
Cash From Financing Activities $485.0K
Net Change In Cash $249.7K
YoY Change -3334.44%
FREE CASH FLOW
Cash From Operating Activities -$235.3K
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_zaM0fCx8bZzl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zIyiG0ox4sD8">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three and six months ended April 30, 2023, one vendor accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230201__20230430__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostsAndExpensesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zVgl5Gygqtle" title="Concentration risk percentage">73</span>% and <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230430__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostsAndExpensesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zThIw6WzWsdf" title="Concentration risk percentage">71</span>% of the Company’s operating expenses, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three and six months ended April 30, 2022, one customer accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220201__20220430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zlVbTfQaB2Oh" title="Concentration risk percentage"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20211101__20220430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zibAHjKPnRo5" title="Concentration risk percentage">100</span></span>% of the Company’s revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three and six months ended April 30, 2022, one vendor accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220201__20220430__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostsAndExpensesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zFQ8B0uQ6Odf" title="Concentration risk percentage">74</span>% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20211101__20220430__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostsAndExpensesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zMSfJEVhbbi1" title="Concentration risk percentage">59</span>% of the Company’s costs and expenses, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>

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