2023 Q4 Form 10-Q Financial Statement

#000149315223040919 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $979.7K $1.510M $1.106M
YoY Change -63.5% 36.56% -45.41%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.00 $267.00 $267.00
YoY Change 196.3% 0.0% -79.62%
% of Gross Profit
Operating Expenses $979.7K $2.083M $1.479M
YoY Change -89.7% 40.89% -42.4%
Operating Profit -$2.083M -$1.479M
YoY Change 40.89% -42.4%
Interest Expense -$63.05K $1.500K $12.11K
YoY Change 34.61% -87.61% -106.0%
% of Operating Profit
Other Income/Expense, Net -$1.839M $2.090M -$329.1K
YoY Change -734.98% 63.12%
Pretax Income -$17.87M $6.699K -$1.808M
YoY Change 86.56% -100.37% -34.71%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$17.87M $6.699K -$1.808M
YoY Change 86.56% -100.37% -34.71%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share -$0.06 $0.00 -$7.015K
COMMON SHARES
Basic Shares Outstanding 368.0M shares 346.1M shares 257.5M shares
Diluted Shares Outstanding 325.2M shares 257.7M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.259M $2.880M $338.9K
YoY Change -62.5% 749.71% -30.84%
Cash & Equivalents $1.239M $2.850M $280.9K
Short-Term Investments $20.00K $30.00K $58.00K
Other Short-Term Assets $17.63K
YoY Change
Inventory
Prepaid Expenses
Receivables $1.632M $0.00
Other Receivables $0.00
Total Short-Term Assets $1.276M $2.877M $338.9K
YoY Change -61.97% 748.7% -30.84%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $1.071K
YoY Change -100.0% -49.95%
Goodwill
YoY Change
Intangibles $0.00 $14.99M $14.99M
YoY Change -100.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $0.00 $14.99M $15.06M
YoY Change -100.0% -0.45%
Total Long-Term Assets $0.00 $14.99M $15.06M
YoY Change -100.0% -0.46% 20264.02%
TOTAL ASSETS
Total Short-Term Assets $1.276M $2.877M $338.9K
Total Long-Term Assets $0.00 $14.99M $15.06M
Total Assets $1.276M $17.87M $15.40M
YoY Change -93.04% 16.03% 2630.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.016M $2.210M $2.341M
YoY Change -59.44% -5.58% 93.43%
Accrued Expenses $33.33K $0.00 $407.5K
YoY Change -92.0% -100.0% 8.39%
Deferred Revenue
YoY Change
Short-Term Debt $435.0K $440.0K $871.1K
YoY Change -54.26% -49.49% -18.67%
Long-Term Debt Due $180.0K $180.0K $180.0K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $3.545M $2.826M $3.799M
YoY Change -12.5% -25.61% 17.58%
LONG-TERM LIABILITIES
Long-Term Debt $4.788M $4.790M $4.788M
YoY Change 0.0% 0.04%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $4.788M $4.788M $4.788M
YoY Change 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.545M $2.826M $3.799M
Total Long-Term Liabilities $4.788M $4.788M $4.788M
Total Liabilities $8.333M $7.614M $8.587M
YoY Change -5.73% -11.33% 165.78%
SHAREHOLDERS EQUITY
Retained Earnings -$345.6M -$327.7M -$238.2M
YoY Change 39.51% 37.62%
Common Stock $349.0K $347.8K $258.4K
YoY Change 33.09% 34.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.057M $10.25M $6.811M
YoY Change
Total Liabilities & Shareholders Equity $1.276M $17.87M $15.40M
YoY Change -93.04% 16.03% 2630.02%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$17.87M $6.699K -$1.808M
YoY Change 86.56% -100.37% -34.71%
Depreciation, Depletion And Amortization $800.00 $267.00 $267.00
YoY Change 196.3% 0.0% -79.62%
Cash From Operating Activities -$3.488M -$90.00K -$296.8K
YoY Change 1125.27% -69.68% 335.75%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.876M -1.070M 223.1K
YoY Change -42.7% -579.56% -32.07%
NET CHANGE
Cash From Operating Activities -3.488M -90.00K -296.8K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 1.876M -1.070M 223.1K
Net Change In Cash -1.612M -1.160M -73.71K
YoY Change -153.03% 1473.73% -128.32%
FREE CASH FLOW
Cash From Operating Activities -$3.488M -$90.00K -$296.8K
Capital Expenditures $0.00
Free Cash Flow -$296.8K
YoY Change 335.75%

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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
10252567 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
10252567 usd
us-gaap Net Income Loss
NetIncomeLoss
-80011097 usd
us-gaap Net Income Loss
NetIncomeLoss
-4013531 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
803 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1428 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
80749448 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
2788896 usd
GTII Imputed Interest On Loan
ImputedInterestOnLoan
6720 usd
GTII Imputed Interest On Loan
ImputedInterestOnLoan
10080 usd
GTII Gain On Debt Conversion
GainOnDebtConversion
-28150 usd
GTII Gain On Asset Sales
GainOnAssetSales
-50000 usd
GTII Gain On Asset Sales
GainOnAssetSales
-22291 usd
GTII Debt Foregiveness
DebtForegiveness
2092272 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-9000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-105000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
43707 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
290840 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
445943 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
591328 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
22178 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
72759 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-875570 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-203641 usd
GTII Cash Returned In Acquisition Reversal Bec
CashReturnedInAcquisitionReversalBec
-183933 usd
GTII Payments To Acquire Gti Acquisition
PaymentsToAcquireGTIAcquisition
2373 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
50000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
25000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
50000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-156560 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
355000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
50000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
8875 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
126878 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
350000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
355001 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
281997 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-470569 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-78203 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3320164 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
359143 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2849595 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
280940 usd
GTII Stock Dividend
StockDividend
31027 usd
GTII Debt Converted To Stock
DebtConvertedToStock
1075077 usd
GTII Stock Issued For Asset Acquisition
StockIssuedForAssetAcquisition
10018085 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zQNym9NNxa3f" 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><span id="xdx_861_zNWxmyax0k22">USE OF MANAGEMENT’S ESTIMATES</span></span></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; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.</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>
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q3 us-gaap Cash
Cash
2849595 usd
CY2022Q4 us-gaap Cash
Cash
3320164 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
6699 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1807628 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
325219420 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
257674524 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Net Income Loss
NetIncomeLoss
-80011097 usd
us-gaap Net Income Loss
NetIncomeLoss
-4013531 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
345989688 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
256896506 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-9000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-105000 usd
us-gaap Depreciation
Depreciation
803 usd
us-gaap Depreciation
Depreciation
1428 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3214 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3214 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3214 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2411 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
803 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
4968177 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
2373 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indefinite Lived Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
14990277 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
6388 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt
4968177 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
10018085 usd
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
93059 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
48059 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
50000 usd
CY2022Q4 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2022Q4 us-gaap Notes Payable
NotesPayable
30000 usd
CY2022Q4 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2023Q1 us-gaap Notes Payable
NotesPayable
20000 usd
CY2023Q1 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2023Q3 us-gaap Loans Payable
LoansPayable
4968177 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
187388 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
487480 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
794133 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1107489 usd
CY2023Q3 GTII Long Term Debt Maturities Repayments Of Principal After Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearThree
2391687 usd
CY2021Q3 GTII Stock Issued During Period Shares Relief And Relinguishment
StockIssuedDuringPeriodSharesReliefAndRelinguishment
150000 shares
CY2021Q3 GTII Stock Issued During Period Shares Restrictive Legends
StockIssuedDuringPeriodSharesRestrictiveLegends
6000000 shares

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