$GLCP
GLOBAL LEADERS CORP

2024 Q1 Form 10-Q Financial Statement

#000149315224009474 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q1
Revenue $7.678K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $29.90K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $29.90K $192.4K
YoY Change -84.46% 660.89%
Operating Profit -$22.22K -$192.4K
YoY Change -88.45%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$22.22K -$192.4K
YoY Change -88.45% 660.89%
Income Tax
% Of Pretax Income
Net Earnings -$22.22K -$192.4K
YoY Change -88.45% 602.02%
Net Earnings / Revenue -289.4%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 154.4M shares 154.4M shares
Diluted Shares Outstanding 154.4M shares 154.4M shares

Balance Sheet

Concept 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.190K
YoY Change
Cash & Equivalents $1.187K $250.5K
Short-Term Investments
Other Short-Term Assets $6.530K
YoY Change
Inventory
Prepaid Expenses $33.95K
Receivables
Other Receivables
Total Short-Term Assets $7.715K $285.6K
YoY Change -97.3%
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 $7.715K $285.6K
Total Long-Term Assets $0.00 $0.00
Total Assets $7.715K $285.6K
YoY Change -97.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $215.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $58.84K $6.544K
YoY Change 799.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $58.84K $6.544K
Total Long-Term Liabilities $0.00
Total Liabilities $58.84K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$1.494M -$1.164M
YoY Change 28.37%
Common Stock $15.44K $15.44K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$51.12K $279.1K
YoY Change
Total Liabilities & Shareholders Equity $7.715K $285.6K
YoY Change -97.3%

Cashflow Statement

Concept 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$22.22K -$192.4K
YoY Change -88.45% 602.02%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$33.96K -$235.3K
YoY Change -85.57% 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 $33.28K $485.0K
YoY Change -93.14% 464.81%
NET CHANGE
Cash From Operating Activities -$33.96K -$235.3K
Cash From Investing Activities
Cash From Financing Activities $33.28K $485.0K
Net Change In Cash -$687.00 $249.7K
YoY Change -100.28% -3334.44%
FREE CASH FLOW
Cash From Operating Activities -$33.96K -$235.3K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2024Q1 us-gaap Use Of Estimates
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<p id="xdx_84B_eus-gaap--UseOfEstimates_zfyNyPoLaCQ8" 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><span id="xdx_869_ziSsF8ixAqWj">Use of estimates</span></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 preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting year. Actual results could differ from those estimates. Significant estimates include estimates for the accrual of potential liabilities.</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"> </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"><b></b></span></p>
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CY2024Q1 us-gaap Concentration Risk Credit Risk
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<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_zRH6d0gMM8C3" 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><span id="xdx_868_zRDwzsC2TtSg">Concentrations</span></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">For the periods ended January 31, 2024, and 2023, three vendors accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeVendorMember_zv2sGj0oThvj" title="Concentration risk percentage">94%</span> (<span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_zxt1b0QQMBs" title="Concentration risk percentage">34%</span>, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zk3L4LjTshe2" title="Concentration risk percentage">31%</span> and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorThreeMember_zCKmPAhan781" title="Concentration risk percentage">29%</span>) and two vendors accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorMember_zwLJlLkazrY9" title="Concentration risk percentage">76%</span> (<span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_zvNwzo0TFNb2" title="Concentration risk percentage">70%</span> and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zQq72Qtx30vj" title="Concentration risk percentage">6%</span>) of the Company’s operating expenses, respectively.</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>
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Files In Submission

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