2023 Q4 Form 10-K Financial Statement

#000109690623002268 Filed on November 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2022 Q4 2022
Revenue $1.905M $4.063M
YoY Change 205211.87%
Cost Of Revenue $1.058M $3.214M
YoY Change 3918929.27%
Gross Profit $847.1K $849.5K
YoY Change 44682.18%
Gross Profit Margin 44.46% 20.91%
Selling, General & Admin -$358.9K $3.163M
YoY Change 313.84%
% of Gross Profit -42.37% 372.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $101.4K $10.88K
YoY Change
% of Gross Profit 11.97% 1.28%
Operating Expenses $517.0K $3.163M
YoY Change 313.84%
Operating Profit $330.1K -$2.313M
YoY Change 203.43%
Interest Expense -$304.2K $766.6K
YoY Change 29147.58%
% of Operating Profit -92.16%
Other Income/Expense, Net -$10.85K $300.0K $2.427M
YoY Change -103.62% -66276.9%
Pretax Income $15.02K
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings $15.04K $113.4K
YoY Change -114.81%
Net Earnings / Revenue 0.79% 2.79%
Basic Earnings Per Share $0.03
Diluted Earnings Per Share $0.00 $0.02
COMMON SHARES
Basic Shares Outstanding 9.064M shares 7.843M shares
Diluted Shares Outstanding 8.272M shares

Balance Sheet

Concept 2023 Q4 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.55K
YoY Change
Cash & Equivalents $45.55K $455.5K
Short-Term Investments
Other Short-Term Assets $42.72K
YoY Change
Inventory
Prepaid Expenses $10.49K
Receivables $720.1K $722.4K
Other Receivables $0.00
Total Short-Term Assets $808.4K $1.248M
YoY Change -35.24% 1030.1%
LONG-TERM ASSETS
Property, Plant & Equipment $159.1K $199.6K
YoY Change -20.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.602M $4.527M
YoY Change -42.52% 228.42%
TOTAL ASSETS
Total Short-Term Assets $808.4K $1.248M
Total Long-Term Assets $2.602M $4.527M
Total Assets $3.410M $5.775M
YoY Change -40.95% 287.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $820.2K $723.9K
YoY Change 13.31% 191.74%
Accrued Expenses $860.7K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.332M
YoY Change
Total Short-Term Liabilities $3.267M $2.923M
YoY Change 11.77% 191.79%
LONG-TERM LIABILITIES
Long-Term Debt $178.1K
YoY Change
Other Long-Term Liabilities $288.4K
YoY Change
Total Long-Term Liabilities $466.5K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.267M $2.923M
Total Long-Term Liabilities $466.5K
Total Liabilities $3.733M $3.592M
YoY Change 3.93% 235.87%
SHAREHOLDERS EQUITY
Retained Earnings -$13.92M -$11.45M
YoY Change 21.49% -1.76%
Common Stock $9.064K $9.004K
YoY Change 0.67% 22.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$136.9K $2.212M
YoY Change
Total Liabilities & Shareholders Equity $3.410M $5.775M
YoY Change -40.95% 287.9%

Cashflow Statement

Concept 2023 Q4 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $15.04K $113.4K
YoY Change -114.81%
Depreciation, Depletion And Amortization $101.4K $10.88K
YoY Change
Cash From Operating Activities $231.7K $178.3K
YoY Change 999.41%
INVESTING ACTIVITIES
Capital Expenditures $11.80K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $9.637K
YoY Change -84.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $350.0K
YoY Change 1300.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -207.9K $157.1K
YoY Change 686.7%
NET CHANGE
Cash From Operating Activities 231.7K $178.3K
Cash From Investing Activities $9.637K
Cash From Financing Activities -207.9K $157.1K
Net Change In Cash 23.80K $345.0K
YoY Change 257.39%
FREE CASH FLOW
Cash From Operating Activities $231.7K $178.3K
Capital Expenditures $11.80K
Free Cash Flow $166.5K
YoY Change 926.64%

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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-60000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
9086 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-515834 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
784 usd
CY2022 alpp Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
10924 usd
CY2021 alpp Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
0 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-101934 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
11523 usd
CY2021 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
0 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-224726 usd
CY2021 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
0 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
230000 usd
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
85250 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-26967 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
0 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
178269 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16215 usd
CY2022 alpp Cash Acquired From Acquisition Of Gladiator
CashAcquiredFromAcquisitionOfGladiator
0 usd
CY2021 alpp Cash Acquired From Acquisition Of Gladiator
CashAcquiredFromAcquisitionOfGladiator
60349 usd
CY2022 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
21437 usd
CY2021 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11800 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9637 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
60349 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
350000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000 usd
CY2022 alpp Proceeds From Shares To Be Issued
ProceedsFromSharesToBeIssued
50000 usd
CY2021 alpp Proceeds From Shares To Be Issued
ProceedsFromSharesToBeIssued
0 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
150000 usd
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
171944 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
5032 usd
CY2022 us-gaap Proceeds From Loans
ProceedsFromLoans
395500 usd
CY2021 us-gaap Proceeds From Loans
ProceedsFromLoans
0 usd
CY2022 us-gaap Payments For Loans
PaymentsForLoans
616468 usd
CY2021 us-gaap Payments For Loans
PaymentsForLoans
0 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
157088 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19968 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
344994 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
96532 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110460 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13928 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
455454 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110460 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
65991 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
782 usd
CY2022 alpp Interest Paid On Notes
InterestPaidOnNotes
24122 usd
CY2021 alpp Interest Paid On Notes
InterestPaidOnNotes
0 usd
CY2022 alpp Cash Received From Employee Retention Tax Credit
CashReceivedFromEmployeeRetentionTaxCredit
2959811 usd
CY2021 alpp Cash Received From Employee Retention Tax Credit
CashReceivedFromEmployeeRetentionTaxCredit
0 usd
CY2022 alpp Acquisition Of Gladiator Through Share Exchange
AcquisitionOfGladiatorThroughShareExchange
0 usd
CY2021 alpp Acquisition Of Gladiator Through Share Exchange
AcquisitionOfGladiatorThroughShareExchange
433334 usd
CY2022 alpp Acquisition Of Uss Through Share Exchange
AcquisitionOfUSSThroughShareExchange
1000000 usd
CY2021 alpp Acquisition Of Uss Through Share Exchange
AcquisitionOfUSSThroughShareExchange
0 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>1. Nature and Continuance of Operations</strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><em>Business Operations Basis of Presentation</em></strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying consolidated financial statements include the accounts of James Maritime Holdings Inc. (“James Maritime”) and its majority-owned subsidiary, Gladiator Solutions Inc. (“Gladiator”), and its wholly owned subsidiary United Security Specialists Inc. (“USS”) (collectively as the “Company”). James Maritime Holdings, Inc. was incorporated in the State of Nevada on January 23, 2015.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Substantially all of the Company’s business is conducted through its subsidiaries, Gladiator and USS. Gladiator produces revenues through the distribution of personal protective products, primarily through mail-in orders to customers or via e-commerce sales generated through their website. USS provides professional security personnel enhanced by smartphone-based security applications.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><em>Share Exchange Agreement – Gladiator Solutions, Inc.</em></strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On December 13, 2021, James Maritime Holdings completed a share exchange agreement with Gladiator.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As a result of the exchange, James Maritime became the majority shareholder of Gladiator Solutions Inc., holding approximately 86.7% of all shares outstanding. See Note 3 for further information.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><em>Share Exchange Agreement – United Security Specialists, Inc.</em></strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On September 23, 2022, James Maritime Holdings completed a share exchange agreement with USS.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As a result of the exchange, James Maritime became the sole shareholder of USS, holding 100% of all shares outstanding. See Note 4 for further information.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><em>Basis of Presentation and Principles of Consolidation</em></strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. The Company has adopted a December 31 fiscal year-end for financial statement reporting purposes.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All operations activity related to James Maritimes’ subsidiary, Gladiator, will only reflect activity from December 13, 2021 through December 31, 2021, the period for which Gladiator was acquired and owned by James Maritime. All operations from 2022 are included within the year ended December 31, 2022 consolidated statement of operations.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All operations activity related to James Maritimes’ subsidiary, USS, will only reflect activity from September 23, 2022 through December 31, 2022, the period for which USS was acquired and owned by James Maritime.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All intercompany balances were eliminated in the consolidated financial statements. Non-controlling interests are classified in the accompanying consolidated balance sheets as a component of equity. The amounts of consolidated net income (loss) attributable to both the Company and the non-controlling interests are separately presented in the accompanying consolidated statement of operations.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><em>Going concern</em></strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s consolidated financial statements as of December 31, 2022, are prepared using U.S. GAAP, which contemplates continuation of the Company as a going concern. This contemplates the realization of assets and liquidation of liabilities in the ordinary course of business. The Company has yet to establish an ongoing source of revenue to finance its operating expenses and to continue as a going concern.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Although the Company generated net income of $204,894 during the year ended December 31, 2022, the Company generated an operating loss of $2,313,262. The net income generated was mainly caused by $3 million received for the employee retention credit during 2022. The accumulated deficit as of December 31, 2022 is $11,454,076 ($11,658,970 as of December 31, 2021). In order to continue as a going concern, the Company plans to receive funds through the selling of equity securities to existing and new shareholders. The Company is also evaluating potential acquisitions in the corporate security space. Additionally, the Company has created and maintained good customer relationships during 2022 for both USS and Gladiator, which the Company is relying on to potentially generate sustainable sales throughout 2023 and afterward. While management maintains they will be able to continue to generate sufficient cash flows through a combination of operations, debt, and equity raises, there is no guarantee the Company will be able to raise or generate additional funds in the short term to meet present obligations as they come due. Due to these factors, there is substantial doubt the Company may be able to continue as a going concern. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</p>
CY2022 alpp Net Loss Income
NetLossIncome
204894 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-2313262 usd
CY2022 alpp Employee Retention Creditduring Period
EmployeeRetentionCreditduringPeriod
3000000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11454076 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11658970 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reporting amounts of assets and liabilities.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Estimates are used for, but not limited to, the accounting for inventories, impairment of long-term assets and derivatives.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">It is reasonably possible that the estimate of the effect of a condition, situation, or set of circumstances that existing 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 of could differ significantly from those estimates.</p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company maintains its cash accounts with financial institutions, where, at times, deposits exceed federal insurance limits of $250,000. The Company believes that no significant concentration of credit risk exists with respect to these cash balances due to its assessment of the credit worthiness and financial viability of the financial institutions.</p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022 alpp Summary Of Estimated Useful Lives Of Property Plant And Equipment
SummaryOfEstimatedUsefulLivesOfPropertyPlantAndEquipment
<table cellpadding="0" style="border-spacing:0;font-size:10pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;width:100%"><tbody><tr style="height:15px"><td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid;width:50%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Asset classes</strong></p></td><td style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid;width:50%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Useful lives (in years)</strong></p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="BORDER-LEFT: #000000 1px solid;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Vehicles</p></td><td style="BORDER-LEFT: #000000 1px solid;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">5</p></td></tr><tr style="height:15px"><td style="BORDER-LEFT: #000000 1px solid;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Furniture and fixtures</p></td><td style="BORDER-LEFT: #000000 1px solid;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">7</p></td></tr></tbody></table>
CY2022 us-gaap Advertising Expense
AdvertisingExpense
50110 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
595 usd
CY2022 alpp Shipping And Handling Costs
ShippingAndHandlingCosts
35122 usd
CY2021 alpp Shipping And Handling Costs
ShippingAndHandlingCosts
0 usd
CY2021Q4 us-gaap Shares Outstanding
SharesOutstanding
750000 shares
CY2021Q4 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1000000 shares
CY2021Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.001
CY2021Q4 alpp Noncontrolling Interest Shares
NoncontrollingInterestShares
100000 shares
CY2021Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.133 pure
CY2021Q4 alpp Shareholders Descerption
ShareholdersDescerption
The remaining shareholders with an equity stake of 86.7% exchanged their total aggregate shares of 650,000 for 866,667 of James Maritime’s common stock shares
CY2021Q4 alpp Business Acquisition Description
BusinessAcquisitionDescription
$3,000,000 and 25% during any consecutive twelve-month period commencing on the Gladiator closing date and ending December 31, 2024 (the “Measurement period”), the Company shall issue one (1) additional share for each two (2) shares of James Maritime stock received by such shareholder
CY2021Q4 alpp Business Acquisition Description One
BusinessAcquisitionDescriptionOne
$5,000,000 and 25% during the measurement period, one (1) additional share of James Maritime stock for each one (1) share of James Maritime stock received by such shareholder at the closing;
CY2021Q4 alpp Additional Business Acquisition Description
AdditionalBusinessAcquisitionDescription
$10,000,000 during the measurement period, one (1) additional share of James Maritime stock for each one (1) share of James Maritime stock received by such shareholder at the closing
CY2021Q4 alpp Additional Business Acquisition Description One
AdditionalBusinessAcquisitionDescriptionOne
Conversely, in the event Gladiator’s revenues and EBITDA percentage does not equal or exceed $2,000,000 and 25%, respectively, during any consecutive twelve-month period commencing on the closing date and ending on the 24-month anniversary of the Closing date, the seller’s shareholders shall return to the Company an aggregate of 500,000 shares of James Maritime common stock
CY2021Q4 us-gaap Debt Securities Available For Sale Purchased With Credit Deterioration Amount At Purchase Price
DebtSecuritiesAvailableForSalePurchasedWithCreditDeteriorationAmountAtPurchasePrice
433334 usd
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
967079 usd
CY2021Q4 alpp Business Combination Provisional Information Initial Accounting Adjustment Intangibles
BusinessCombinationProvisionalInformationInitialAccountingAdjustmentIntangibles
1400413 usd
CY2021Q4 alpp Finite Lived Intangible Asset Useful Lifes
FiniteLivedIntangibleAssetUsefulLifes
P3Y
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
60349 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
1356 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
61705 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
264909 usd
CY2022Q4 alpp Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Defferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDefferredRevenue
84750 usd
CY2022Q4 alpp Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesdue To Related Parties
BusinesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesdueToRelatedParties
154948 usd
CY2022Q4 alpp Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesnote Payable
BusinesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesnotePayable
30987 usd
CY2022Q4 alpp Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesconvertible Debenture
BusinesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesconvertibleDebenture
28370 usd
CY2022Q4 alpp Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilities Loan
BusinesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesLoan
67800 usd
CY2022Q4 alpp Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumesdcurrentliabilitiev
Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumesdcurrentliabilitiev
330353 usd
CY2022Q4 alpp Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilities Minority Interest
BusinesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedcurrentliabilitiesMinorityInterest
66667 usd
CY2022Q4 alpp Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilitie
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitie
1028784 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
-967079 usd
CY2022Q4 us-gaap Shares Outstanding
SharesOutstanding
100 shares
CY2022Q4 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1000000 shares
CY2022Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.001
CY2022Q4 alpp Business Acquisition Description
BusinessAcquisitionDescription
$20,000,000 and 15% during any consecutive (12) month period commencing on the Closing date and ending on December 31, 2025 (“the Measurement Period”), the Company shall issue an aggregate 500,000 shares of James Maritime stock
CY2022Q4 alpp Business Acquisition Description One
BusinessAcquisitionDescriptionOne
$30,000,000 and 15% during the measurement period, the Company shall issue an aggregate 500,000 shares of James Maritime stock
CY2022Q4 alpp Additional Business Acquisition Description
AdditionalBusinessAcquisitionDescription
$40,000,000 and 15% during the measurement period, the Company shall issue an aggregate 500,000 shares of James Maritime stock
CY2022Q4 alpp Additional Business Acquisition Description One
AdditionalBusinessAcquisitionDescriptionOne
$50,000,000 and15% during the measurement period, the Company shall issue an aggregate 500,000 shares of James Maritime stock
CY2022Q4 us-gaap Debt Securities Available For Sale Purchased With Credit Deterioration Amount At Purchase Price
DebtSecuritiesAvailableForSalePurchasedWithCreditDeteriorationAmountAtPurchasePrice
1000000 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
2439614 usd
CY2022Q4 alpp Business Combination Provisional Information Initial Accounting Adjustments Intangibles
BusinessCombinationProvisionalInformationInitialAccountingAdjustmentsIntangibles
3439614 usd
CY2022Q4 alpp Finite Lived Intangible Asset Useful Lifes
FiniteLivedIntangibleAssetUsefulLifes
P3Y
CY2022Q4 alpp Right Of Use Assets Operating Leases
RightOfUseAssetsOperatingLeases
168339 usd
CY2022Q4 us-gaap Cash
Cash
21437 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
206536 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10487 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
199584 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
193839 usd
CY2022Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
99609 usd
CY2022Q4 alpp Total Assets Acquired
TotalAssetsAcquired
731492 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
704637 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
172366 usd
CY2022Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
1017771 usd
CY2022Q4 alpp Loan Current And Non Current
LoanCurrentAndNonCurrent
1066012 usd
CY2022Q4 alpp Operating Lease Liability Current And Non Current
OperatingLeaseLiabilityCurrentAndNonCurrent
210320 usd
CY2022Q4 alpp Total Liabilities Assumed
TotalLiabilitiesAssumed
3171106 usd
CY2022Q4 alpp Net Assets Liabilities Acquired Assumed
NetAssetsLiabilitiesAcquiredAssumed
-2439614 usd
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
9420417 usd
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2301112 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
789357 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22142 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4150280 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1378270 usd
CY2022 us-gaap Adjustment For Amortization
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CY2022Q1 us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
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CY2022Q4 us-gaap Stock Issued During Period Shares New Issues
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021 alpp Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Prices
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CY2022 alpp Dilutive Effect Of Convertible Debentures And Warrants
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CY2021 alpp Dilutive Effect Of Convertible Debentures And Warrants
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 alpp Valuation Allowance Income Tax
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CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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