2023 Q1 Form 10-K Financial Statement

#000109690623000699 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $614.9K $818.6K $2.251M
YoY Change 32.71% 21.89% 53.6%
Cost Of Revenue $337.1K $401.1K $880.0K
YoY Change 143.08% 101.86% 154.2%
Gross Profit $277.8K $417.5K $1.372M
YoY Change -14.43% -11.71% 22.5%
Gross Profit Margin 45.18% 51.0% 60.92%
Selling, General & Admin $683.0K $538.8K $2.283M
YoY Change 84.42% -24.16% -11.65%
% of Gross Profit 245.83% 129.04% 166.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $550.00 $550.00 $880.00
YoY Change -56.69% -82.75%
% of Gross Profit 0.2% 0.13% 0.06%
Operating Expenses $683.0K $538.8K $2.283M
YoY Change 84.42% -24.16% -11.65%
Operating Profit -$405.2K -$121.3K -$911.6K
YoY Change 787.6% -48.94% -37.76%
Interest Expense -$174.0K $240.8K -$74.17K
YoY Change -478.03% -79.92% -46.17%
% of Operating Profit
Other Income/Expense, Net -$174.0K -$71.53K
YoY Change -457.49% -26.97%
Pretax Income -$579.2K $43.42K -$983.1K
YoY Change -19341.2% -91.91% -50.53%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$579.2K $43.42K -$983.1K
YoY Change -19341.1% -91.91% -50.53%
Net Earnings / Revenue -94.18% 5.3% -43.67%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 345.2M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.2K $65.65K $65.65K
YoY Change 131.01% -70.44% -70.44%
Cash & Equivalents $213.2K $65.65K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change
Inventory $1.654M $1.819M $1.819M
Prepaid Expenses
Receivables $135.4K $105.8K $105.8K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.003M $1.991M $1.991M
YoY Change -9.37% -13.95% -13.95%
LONG-TERM ASSETS
Property, Plant & Equipment $4.950K $5.500K $5.500K
YoY Change -30.77% 428.85% 428.85%
Goodwill $193.3K $193.3K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $102.5K $69.90K $69.90K
YoY Change 506.99%
Total Long-Term Assets $822.6K $790.5K $790.6K
YoY Change 11.29% 10.38% 10.38%
TOTAL ASSETS
Total Short-Term Assets $2.003M $1.991M $1.991M
Total Long-Term Assets $822.6K $790.5K $790.6K
Total Assets $2.825M $2.781M $2.781M
YoY Change -4.2% -8.2% -8.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $114.5K $91.32K $91.32K
YoY Change 8.6% 145.03% 145.02%
Accrued Expenses $85.87K $94.55K $115.9K
YoY Change 215.24% 59.55% 34.14%
Deferred Revenue
YoY Change
Short-Term Debt $1.084M $593.5K $593.5K
YoY Change 203.1% 73.23% 73.23%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.510M $902.8K $902.8K
YoY Change 199.75% 61.55% 61.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.510M $902.8K $902.8K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.510M $902.8K $902.8K
YoY Change 199.75% 61.55% 61.55%
SHAREHOLDERS EQUITY
Retained Earnings -$16.51M -$15.93M
YoY Change 6.58%
Common Stock $345.5K $345.2K
YoY Change 2.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.315M $1.878M $1.878M
YoY Change
Total Liabilities & Shareholders Equity $2.825M $2.781M $2.781M
YoY Change -4.2% -8.2% -8.2%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$579.2K $43.42K -$983.1K
YoY Change -19341.1% -91.91% -50.53%
Depreciation, Depletion And Amortization $550.00 $550.00 $880.00
YoY Change -56.69% -82.75%
Cash From Operating Activities -$310.3K -$93.94K -$335.0K
YoY Change 186.19% -329.79% -62.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $7.987K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 -$7.987K
YoY Change -100.0% -100.0% -91.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$11.39K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $457.8K 85.71K $186.5K
YoY Change -3511.42% 11.02% -83.92%
NET CHANGE
Cash From Operating Activities -$310.3K -93.94K -$335.0K
Cash From Investing Activities $0.00 0.000 -$7.987K
Cash From Financing Activities $457.8K 85.71K $186.5K
Net Change In Cash $147.6K -8.230K -$156.4K
YoY Change -213.66% -107.69% -196.04%
FREE CASH FLOW
Cash From Operating Activities -$310.3K -$93.94K -$335.0K
Capital Expenditures $0.00 $0.00 $7.987K
Free Cash Flow -$310.3K -$93.94K -$343.0K
YoY Change 208.96% -280.69% -61.95%

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-14118 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
13600 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-334964 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-901298 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7987 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2022 fil Purchase Of Note Receivable
PurchaseOfNoteReceivable
0 usd
CY2021 fil Purchase Of Note Receivable
PurchaseOfNoteReceivable
0 usd
CY2022 fil Increase Decrease In Trademarks
IncreaseDecreaseInTrademarks
0 usd
CY2021 fil Increase Decrease In Trademarks
IncreaseDecreaseInTrademarks
-96004 usd
CY2022 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
0 usd
CY2021 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
0 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7987 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-96004 usd
CY2022 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
CY2021 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
CY2022 fil Purchase Of Hyperion Op M
PurchaseOfHyperionOpM
-53015 usd
CY2021 fil Purchase Of Hyperion Op M
PurchaseOfHyperionOpM
0 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-11386 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
995199 usd
CY2022 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
463630 usd
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
165000 usd
CY2022 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
318095 usd
CY2021 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
275370 usd
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2022 fil Proceeds From Issuance Of Notes Payable Related Party
ProceedsFromIssuanceOfNotesPayableRelatedParty
0 usd
CY2021 fil Proceeds From Issuance Of Notes Payable Related Party
ProceedsFromIssuanceOfNotesPayableRelatedParty
0 usd
CY2022 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-170000 usd
CY2021 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
186504 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1160199 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-156447 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
162897 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
222098 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59201 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65651 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
222098 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font:11pt Times New Roman;margin:0;text-align:justify"><b><i>Use of Estimates</i></b></p> <p style="font:11pt Times New Roman;margin:0;text-indent:36pt;text-align:justify"> </p> <p style="font:11pt Times New Roman;margin:0;text-align:justify">The preparation of financial statements in conformity with 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 financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p>
CY2022Q4 fil Inventory Allowances
InventoryAllowances
1914891 usd
CY2021Q4 fil Inventory Allowances
InventoryAllowances
1914891 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1483764 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1757808 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
310600 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
194490 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
24764 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
5668 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1819128 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1957966 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font:11pt Times New Roman;margin:0;text-align:justify"><b><i>Concentration</i></b></p> <p style="font:11pt Times New Roman;margin:0;text-align:justify"> </p> <p style="font:11pt Times New Roman;margin:0;color:#000000;text-align:justify">There is no concentration of revenue for the months ended December 31, 2021 and for the months ended December 31, 2022<span style="background-color:#FFFFFF"> because the revenue was earned from multiple customers.</span></p>
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
15926742 usd
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
92527 usd
CY2022 fil Convertible Debt Issued
ConvertibleDebtIssued
297807 usd
CY2022 fil Convertible Debt Change In Fair Value Recognized In Operations
ConvertibleDebtChangeInFairValueRecognizedInOperations
-203822 usd
CY2022 fil Convertible Debt Converted
ConvertibleDebtConverted
-84501 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
102011 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-15926742 usd
CY2022Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1000 usd
CY2021Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
65000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
68042 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
70883 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5926 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
144851 usd
CY2022 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
63745 usd
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
55440 usd
CY2022Q4 fil Due To Related Parties
DueToRelatedParties
276236 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
2713 usd
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
317285 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 usd
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
317285 usd
CY2022Q4 fil Convertible Debt Accrued Interest
ConvertibleDebtAccruedInterest
18674 usd
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
75000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
75000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
75000000 shares
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2500000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2500000000 shares
CY2018Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2500000000 shares
CY2022 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
The Company effectuated a reverse stock split of 1-for-250 as of July 23, 2018
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021 fil Warrants Issued
WarrantsIssued
14000000 shares
CY2022 fil Warrants Outstanding
WarrantsOutstanding
16000000 shares
CY2022 fil Warrants Fully Vested
WarrantsFullyVested
16000000 shares
CY2021 fil Issuance Of Common Stock Omnibus Stock Grant And Option Plan
IssuanceOfCommonStockOmnibusStockGrantAndOptionPlan
7500000 shares

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