$GLCP
GLOBAL LEADERS CORP

2024 Q2 Form 10-Q Financial Statement

#000149315224023403 Filed on June 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $5.112K $7.678K $10.23K
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $5.110K
YoY Change
Gross Profit Margin 99.96%
Selling, General & Admin $12.88K $29.90K $47.13K
YoY Change
% of Gross Profit 252.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $12.88K $29.90K $47.13K
YoY Change -90.68% -84.46%
Operating Profit -$7.770K -$22.22K
YoY Change -94.38% -88.45%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$7.770K -$22.22K -$36.90K
YoY Change -88.45%
Income Tax
% Of Pretax Income
Net Earnings -$7.770K -$22.22K -$36.90K
YoY Change -94.38% -88.45%
Net Earnings / Revenue -152.0% -289.4% -360.7%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $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 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.15K $1.190K $1.870K
YoY Change
Cash & Equivalents $59.15K $1.187K $1.874K
Short-Term Investments
Other Short-Term Assets $4.620K $6.530K $4.790K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $63.77K $7.715K $6.660K
YoY Change -57.76% -97.3% 134.67%
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 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $63.77K $7.715K $6.660K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $63.77K $7.715K $6.660K
YoY Change -57.76% -97.3% 134.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $10.00K
YoY Change 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.7K $58.84K $35.56K
YoY Change 1108.39% 799.11% -46.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $122.7K $58.84K $35.56K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $122.7K $58.84K $35.56K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$1.502M -$1.494M -$1.472M
YoY Change 15.34% 28.37% 51.51%
Common Stock $15.44K $15.44K $15.44K
YoY Change 0.0% 0.0% 0.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$58.89K -$51.12K -$28.90K
YoY Change
Total Liabilities & Shareholders Equity $63.77K $7.715K $6.660K
YoY Change -57.76% -97.3% 134.67%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$7.770K -$22.22K -$36.90K
YoY Change -94.38% -88.45%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$5.870K -$33.96K -$503.2K
YoY Change -85.57%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
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 63.82K $33.28K 504.3K
YoY Change -93.14%
NET CHANGE
Cash From Operating Activities -5.870K -$33.96K -503.2K
Cash From Investing Activities 0.000
Cash From Financing Activities 63.82K $33.28K 504.3K
Net Change In Cash 57.95K -$687.00 1.080K
YoY Change -100.28%
FREE CASH FLOW
Cash From Operating Activities -$5.870K -$33.96K -$503.2K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
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<p id="xdx_843_eus-gaap--UseOfEstimates_zvOMN29EsDA8" 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>Use of estimates</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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
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us-gaap Concentration Risk Credit Risk
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<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zHKgXYBrYAlc" 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>Concentrations</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 three and six months ended April 30, 2024, two vendors accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240201__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorMember_zBtDWxRTEdTb" title="Concentration risk percentage">80</span>% (<span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240201__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_ztgFG7535x33" title="Concentration risk percentage">45</span>% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240201__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zeZOvlta6EXj" title="Concentration risk percentage">35</span>%) and three vendors accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeVendorMember_zcXEJ9URgmwe" title="Concentration risk percentage">90</span>% (<span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_zmDSFZbnnz3a" title="Concentration risk percentage">34</span>%, <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zMp10bCQlIu5" title="Concentration risk percentage">33</span>% and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorThreeMember_zwkJHKDBcVZ6" title="Concentration risk percentage">23</span>%) of the Company’s operating costs and 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> <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 three and six months ended April 30, 2023, one vendor accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230201__20230430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_zaRwHxxL576j" title="Concentration risk percentage">73</span>% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zYPzi8x2qM89" title="Concentration risk percentage">71</span>% of the Company’s operating costs and 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>
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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105350000 shares

Files In Submission

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