2024 Q3 Form 10-Q Financial Statement

#000121390024067679 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.000K $0.00
YoY Change
% of Gross Profit
Operating Expenses $31.65K
YoY Change -81.45%
Operating Profit -$2.133M -$31.65K
YoY Change 6638.7% -81.45%
Interest Expense $6.000K $240.0K
YoY Change -97.5% 52.26%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.139M $210.0K
YoY Change -1118.57% -1716.63%
Income Tax
% Of Pretax Income
Net Earnings -$2.139M $210.1K
YoY Change -1117.91% -1717.81%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 $0.06
Diluted Earnings Per Share -$0.01 $0.06
COMMON SHARES
Basic Shares Outstanding 146.7M shares 144.6M shares 2.500M shares
Diluted Shares Outstanding 146.7M shares 3.403M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $88.00K $8.086K
Short-Term Investments
Other Short-Term Assets $104.0K $100.0K
YoY Change 4.0% -58.04%
Inventory
Prepaid Expenses $60.00K $115.6K
Receivables
Other Receivables
Total Short-Term Assets $423.0K $123.6K
YoY Change 242.12% -75.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.270M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.70M
YoY Change -82.29%
Other Assets
YoY Change
Total Long-Term Assets $6.773M $20.67M
YoY Change -67.23% -82.32%
TOTAL ASSETS
Total Short-Term Assets $423.0K $123.6K
Total Long-Term Assets $6.773M $20.67M
Total Assets $7.196M $20.79M
YoY Change -65.39% -82.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $711.0K $607.9K
YoY Change 16.96% 17096.21%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M
YoY Change 1029.43%
Long-Term Debt Due $528.0K
YoY Change
Total Short-Term Liabilities $2.477M $1.788M
YoY Change 38.5% 939.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $4.000M
YoY Change -0.62%
Total Long-Term Liabilities $12.41M $4.000M
YoY Change 210.15% -0.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.477M $1.788M
Total Long-Term Liabilities $12.41M $4.000M
Total Liabilities $14.88M $5.813M
YoY Change 156.01% 38.51%
SHAREHOLDERS EQUITY
Retained Earnings -$17.41M -$5.690M
YoY Change 206.02% 61.4%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.687M -$5.690M
YoY Change
Total Liabilities & Shareholders Equity $7.196M $20.79M
YoY Change -65.39% -82.29%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.139M $210.1K
YoY Change -1117.91% -1717.81%
Depreciation, Depletion And Amortization $2.000K $0.00
YoY Change
Cash From Operating Activities -$10.00K
YoY Change -89.05%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$250.0K
YoY Change
Cash From Investing Activities -$250.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $116.7M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 250.0K
YoY Change
NET CHANGE
Cash From Operating Activities -10.00K
Cash From Investing Activities -250.0K
Cash From Financing Activities 250.0K
Net Change In Cash -10.00K
YoY Change -89.05%
FREE CASH FLOW
Cash From Operating Activities -$10.00K
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of unaudited condensed consolidated financial statements in conformity with US GAAP 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 unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2024Q2 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P15Y
CY2024Q2 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
10000 usd
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
5000 usd
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
0 usd
CY2023 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
0 usd
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q3 us-gaap Cash
Cash
30000 usd
CY2024Q2 us-gaap Deposits Assets Current
DepositsAssetsCurrent
171000 usd
CY2023Q3 us-gaap Deposits Assets Current
DepositsAssetsCurrent
128000 usd
CY2024Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P15Y
gti Residual Value
ResidualValue
0 usd
us-gaap Acquisition Costs
AcquisitionCosts
6474000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
971000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5503000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
647000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5827000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
108000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
432000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
432000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
432000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
432000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
3667000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5503000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1274000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1270000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
2000 usd
us-gaap Depreciation
Depreciation
4000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
0 usd
us-gaap Depreciation
Depreciation
0 usd
gti Renewal Terms
RenewalTerms
P1Y
CY2024Q2 us-gaap Interest Expense
InterestExpense
6000 usd
us-gaap Interest Expense
InterestExpense
18000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
6000 usd
us-gaap Interest Expense
InterestExpense
18000 usd
CY2024Q2 us-gaap Loans Payable Current
LoansPayableCurrent
53000 usd
CY2023Q3 us-gaap Loans Payable Current
LoansPayableCurrent
35000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
528000 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
510000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
475000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
475000 usd
CY2024Q1 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
13800000 usd
CY2024Q1 gti Provision Issuance Rate
ProvisionIssuanceRate
0.01 pure
us-gaap Stock Issued1
StockIssued1
1380000000 usd
us-gaap Provision For Other Losses
ProvisionForOtherLosses
10155000 usd
CY2022Q3 gti Initial Term
InitialTerm
P2Y
CY2022Q3 us-gaap Rental Properties
RentalProperties
800000 usd
CY2024Q2 gti Working Capital Loan
WorkingCapitalLoan
96000 usd
CY2024Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
656000 usd
CY2023Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
5756000 usd
CY2024Q2 us-gaap Commitments Fair Value Disclosure
CommitmentsFairValueDisclosure
107000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
00-0000000
CY2023Q3 gti Working Capital Loan Current
WorkingCapitalLoanCurrent
usd
CY2023Q3 gti Extension Loan Current
ExtensionLoanCurrent
usd
CY2023Q3 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
usd
us-gaap Increase Decrease Due From Other Related Parties
IncreaseDecreaseDueFromOtherRelatedParties
usd
gti Increase Decreasein Deferred Underwriting Fee
IncreaseDecreaseinDeferredUnderwritingFee
usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
us-gaap Stock Issued1
StockIssued1
usd
gti Issuance Of Shares To Energems Founders Shares
IssuanceOfSharesToEnergemsFoundersShares
usd
gti Issuance Of Shares To Financial Advisor
IssuanceOfSharesToFinancialAdvisor
usd
gti Issuance Of Shares To Underwriter
IssuanceOfSharesToUnderwriter
usd
gti Issuance Of Shares To Senior Management Staff Shares
IssuanceOfSharesToSeniorManagementStaffShares
usd
gti Issuance Of Shares For The Settlement Of Amount Due To A Director
IssuanceOfSharesForTheSettlementOfAmountDueToADirector
usd
gti Issuance Of Shares For The Settlement Of Amount Due To A Shareholders For Intellectual Property
IssuanceOfSharesForTheSettlementOfAmountDueToAShareholdersForIntellectualProperty
usd
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000000 myr
CY2024Q2 us-gaap Cash
Cash
142000000 myr
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
usd
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001879373

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