2024 Q4 Form 10-Q Financial Statement

#000182912624007279 Filed on November 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $33.53K $45.00K
YoY Change -25.49%
Cost Of Revenue
YoY Change
Gross Profit $33.53K $45.00K
YoY Change -25.49%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $20.72K $92.87K
YoY Change -77.69% 41.35%
% of Gross Profit 61.79% 206.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit 0.0%
Operating Expenses $20.72K $92.87K
YoY Change -77.69% 41.35%
Operating Profit -$12.81K -$47.87K
YoY Change -73.23% -27.14%
Interest Expense $1.787K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$448.3K -$90.38K
YoY Change 396.02% -128.41%
Pretax Income -$435.5K -$138.2K
YoY Change 215.01% -154.77%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$435.5K -$138.2K
YoY Change 215.01% -154.77%
Net Earnings / Revenue -1298.86% -307.22%
Basic Earnings Per Share -$0.02 $0.00
Diluted Earnings Per Share -$0.02 $0.00
COMMON SHARES
Basic Shares Outstanding 27.94M shares 27.94M shares 27.94M shares
Diluted Shares Outstanding 27.94M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $260.0K
YoY Change -68.0%
Cash & Equivalents $56.63K $165.6K
Short-Term Investments $90.00K
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.036M $257.4K
YoY Change 302.38% -69.63%
LONG-TERM ASSETS
Property, Plant & Equipment $23.81K $29.91K
YoY Change -20.41% -71.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $930.0K $91.83K
YoY Change 912.71% -81.18%
Other Assets
YoY Change
Total Long-Term Assets $23.81K $29.91K
YoY Change -20.41% -79.75%
TOTAL ASSETS
Total Short-Term Assets $1.036M $257.4K
Total Long-Term Assets $23.81K $29.91K
Total Assets $1.060M $287.4K
YoY Change 268.79% -71.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00K
YoY Change 792.86%
Accrued Expenses $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $108.5K $34.19K
YoY Change 217.35% 20.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $108.5K $34.19K
Total Long-Term Liabilities $0.00
Total Liabilities $108.5K $34.19K
YoY Change 217.35% 15.3%
SHAREHOLDERS EQUITY
Retained Earnings -$43.43K -$681.5K
YoY Change -93.63% -2297.56%
Common Stock $27.94K $27.94K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $951.2K $253.2K
YoY Change
Total Liabilities & Shareholders Equity $1.060M $287.4K
YoY Change 268.79% -71.13%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$435.5K -$138.2K
YoY Change 215.01% -154.77%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$30.00K
YoY Change -59.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $40.00K
YoY Change -18.52%
Cash From Investing Activities $40.00K
YoY Change -18.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -30.00K
Cash From Investing Activities 40.00K
Cash From Financing Activities 0.000
Net Change In Cash 10.00K
YoY Change -108.06%
FREE CASH FLOW
Cash From Operating Activities -$30.00K
Capital Expenditures
Free Cash Flow
YoY Change

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-37257 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-87335 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93890 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
252956 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56633 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
165621 usd
CY2024Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
0 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_zGLCyACx1u0b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_866_zSjPurWYeIIc">Use of Estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements are prepared on the basis of accounting principles generally accepted in the United States of America, also referred to as U.S. GAAP. 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 as of the dates of the balance sheets and the income and expenses for the periods ended as stated in the statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
CY2024Q3 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
1342394 usd
us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
-360569 usd
HSTA Investment In Equities Cumulative Fair Value Adjustment
InvestmentInEquitiesCumulativeFairValueAdjustment
-412465 usd
CY2024Q3 us-gaap Equity Method Investments
EquityMethodInvestments
929954 usd
us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
3930 usd
CY2024Q3 HSTA Lines Of Credit Receivable
LinesOfCreditReceivable
0 usd
CY2023Q4 HSTA Lines Of Credit Receivable
LinesOfCreditReceivable
0 usd
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q4 HSTA Preferred Stock Cancelled
PreferredStockCancelled
10000000 shares
HSTA Schedule Of Fair Value Measurements Rollforward Table Textablock
ScheduleOfFairValueMeasurementsRollforwardTableTextablock
<table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfFairValueMeasurementsRollforwardTableTextablock_z7z25zKGs5x9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Options to Acquire Common Stock (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top"> <span id="xdx_8BF_zT5g2oxmd6q6" style="display: none">Schedule Of Fair Value Measurements Rollforward</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Low</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">High</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 76%; padding-bottom: 1pt; vertical-align: top">Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20231201__20240831__srt--RangeAxis__srt--MinimumMember_ztznu5OCRJL6" title="Rate">4.01</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20231201__20240831__srt--RangeAxis__srt--MaximumMember_zdXeA07WNpqi" title="Rate">4.01</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top">Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20231201__20240831__srt--RangeAxis__srt--MinimumMember_z4idsEt3s4Me" title="Volatility">195.43</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20231201__20240831__srt--RangeAxis__srt--MaximumMember_zJiY63OUL0X" title="Volatility">195.43</span></td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top">Stock price</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--SharePrice_iI_c20240831__srt--RangeAxis__srt--MinimumMember_zkpqjPI12yc" style="text-align: right" title="Stock price">0.16</td><td style="padding-bottom: 1pt; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--SharePrice_iI_c20240831__srt--RangeAxis__srt--MaximumMember_zm4IdPZmTOnc" style="text-align: right" title="Stock price">0.16</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top">Exercise price</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240831__srt--RangeAxis__srt--MinimumMember_zMOtXpLzhsXi" style="text-align: right" title="Exercise price">0.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240831__srt--RangeAxis__srt--MaximumMember_zBPpsbn4bn02" style="text-align: right" title="Exercise price">0.20</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231201__20240831__srt--RangeAxis__srt--MinimumMember_z6B4IXipaaNl" title="Term (years)">3.00</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231201__20240831__srt--RangeAxis__srt--MaximumMember_zlnByTfu5uNb" title="Term (years)">3.00</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
80000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.06
HSTA Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
P2Y6M7D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1500000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.20
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M25D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1580000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.34
HSTA Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm
P4Y8M12D

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