2023 Q4 Form 10-K Financial Statement

#000109690624001296 Filed on June 04, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $1.905M $8.820M
YoY Change 117.08%
Cost Of Revenue $1.058M $6.054M
YoY Change 88.38%
Gross Profit $847.1K $2.767M
YoY Change 225.67%
Gross Profit Margin 44.46% 31.37%
Selling, General & Admin -$358.9K $3.542M
YoY Change 12.0%
% of Gross Profit -42.37% 128.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $101.4K $41.36K
YoY Change 280.07%
% of Gross Profit 11.97% 1.49%
Operating Expenses $517.0K $4.454M
YoY Change 40.81%
Operating Profit $330.1K -$1.687M
YoY Change -27.07%
Interest Expense -$304.2K $1.062M
YoY Change 38.54%
% of Operating Profit -92.16%
Other Income/Expense, Net -$10.85K -$932.0K
YoY Change -103.62% -138.4%
Pretax Income $15.02K -$2.619M
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings $15.04K -$2.619M
YoY Change -2408.58%
Net Earnings / Revenue 0.79% -29.69%
Basic Earnings Per Share -$0.27
Diluted Earnings Per Share $0.00 -$0.27
COMMON SHARES
Basic Shares Outstanding 9.064M shares 9.046M shares
Diluted Shares Outstanding 9.046M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.55K $45.55K
YoY Change
Cash & Equivalents $45.55K
Short-Term Investments
Other Short-Term Assets $42.72K $42.72K
YoY Change
Inventory
Prepaid Expenses
Receivables $720.1K $720.1K
Other Receivables $0.00 $0.00
Total Short-Term Assets $808.4K $808.4K
YoY Change -35.24%
LONG-TERM ASSETS
Property, Plant & Equipment $159.1K $506.1K
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 $2.602M
YoY Change -42.52%
TOTAL ASSETS
Total Short-Term Assets $808.4K $808.4K
Total Long-Term Assets $2.602M $2.602M
Total Assets $3.410M $3.410M
YoY Change -40.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $820.2K $820.2K
YoY Change 13.31%
Accrued Expenses $860.7K $860.7K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.332M $1.332M
YoY Change
Total Short-Term Liabilities $3.267M $3.267M
YoY Change 11.77%
LONG-TERM LIABILITIES
Long-Term Debt $178.1K $178.1K
YoY Change
Other Long-Term Liabilities $288.4K $288.4K
YoY Change
Total Long-Term Liabilities $466.5K $466.5K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.267M $3.267M
Total Long-Term Liabilities $466.5K $466.5K
Total Liabilities $3.733M $3.547M
YoY Change 3.93%
SHAREHOLDERS EQUITY
Retained Earnings -$13.92M
YoY Change 21.49%
Common Stock $9.064K
YoY Change 0.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$136.9K -$136.9K
YoY Change
Total Liabilities & Shareholders Equity $3.410M $3.410M
YoY Change -40.95%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $15.04K -$2.619M
YoY Change -2408.58%
Depreciation, Depletion And Amortization $101.4K $41.36K
YoY Change 280.07%
Cash From Operating Activities $231.7K -$269.5K
YoY Change -251.2%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -207.9K -$140.4K
YoY Change -189.35%
NET CHANGE
Cash From Operating Activities 231.7K -$269.5K
Cash From Investing Activities
Cash From Financing Activities -207.9K -$140.4K
Net Change In Cash 23.80K -$409.9K
YoY Change -218.81%
FREE CASH FLOW
Cash From Operating Activities $231.7K -$269.5K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-16043 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
533465 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-101934 usd
CY2023 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
53331 usd
CY2022 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-11006 usd
CY2023 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
7960 usd
CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-224726 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-400000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
230000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-269544 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
178269 usd
CY2022 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
21437 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11800 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9637 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
350000 usd
CY2022 jmtm Proceeds From Shares To Be Issued
ProceedsFromSharesToBeIssued
50000 usd
CY2023 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
32595 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
374619 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
150000 usd
CY2023 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
220041 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
171944 usd
CY2022 us-gaap Proceeds From Loans
ProceedsFromLoans
395500 usd
CY2023 us-gaap Payments For Loans
PaymentsForLoans
262342 usd
CY2022 us-gaap Payments For Loans
PaymentsForLoans
616468 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-140359 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
157088 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-409903 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
344994 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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45551 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
455454 usd
CY2023 us-gaap Interest Paid
InterestPaid
56196 usd
CY2022 us-gaap Interest Paid
InterestPaid
90113 usd
CY2022 jmtm Cash Received From Employee Retention Tax Credit
CashReceivedFromEmployeeRetentionTaxCredit
2959811 usd
CY2023 jmtm Shares Issued For Common Stock Payable
SharesIssuedForCommonStockPayable
50000 usd
CY2022 jmtm Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
0 usd
CY2023 jmtm Lease Modification
LeaseModification
178126 usd
CY2023 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 usd
CY2022 jmtm Acquisition Of Uss Through Share Exchange
AcquisitionOfUSSThroughShareExchange
1000000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><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 0px 0px 0in"><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 0px 0px 0in; 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 0px 0px 0in; 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 0px 0px 0in"><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 0px 0px 0in; 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 0px 0px 0in; 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 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 0px 0px 0in"><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 0px 0px 0in; 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 0px 0px 0in; text-align:justify;">All operations activity related to James Maritimes’ subsidiary, Gladiator, all operations are included within consolidated statement of operations for the years ended December 31, 2023 and 2022, respectively.</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 0px 0px 0in; text-align:justify;">All operations activity related to James Maritimes’ subsidiary, USS, for the year ended December 31, 2022, will only reflect activity from September 23, 2022 through December 31, 2022, the period for which USS was acquired and owned by James Maritime. All operations for the year ended December 31, 2023 are included within 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 0px 0px 0in; 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 0px 0px 0in"><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 0px 0px 0in; text-align:justify;">The Company’s consolidated financial statements as of December 31, 2023, 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 0px 0px 0in; text-align:justify;">During the year ended December 31, 2023, the Company generated a net loss of $2,618,965. The accumulated deficit as of December 31, 2023 is $13,915,927 ($11,454,076 as of December 31, 2022). 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 2023 for both USS and Gladiator, which the Company is relying on to potentially generate sustainable sales throughout 2024 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. The 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>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-2618965 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13915927 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11454076 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; 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 0px 0px 0in; 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 0px 0px 0in; 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>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; 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>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023 jmtm 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-LEFT: #000000 1px solid;width:50%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.65pt; text-align:center;"><strong>Asset classes</strong></p></td><td style="BORDER-TOP: #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 0px 0px 0.65pt; text-align:center;"><strong>Useful lives (in years)</strong></p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.65pt; text-align:center;">Vehicles</p></td><td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.65pt; text-align:center;">5</p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.65pt; text-align:center;">Furniture and fixtures</p></td><td style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.65pt; text-align:center;">7</p></td></tr></tbody></table>
CY2023 jmtm Finite Lived Intangible Asset Estimated Useful Life
FiniteLivedIntangibleAssetEstimatedUsefulLife
P3Y
CY2023 us-gaap Advertising Expense
AdvertisingExpense
80196 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
50110 usd
CY2023 jmtm Lease Initial Payment
LeaseInitialPayment
9208 usd
CY2023 jmtm Shipping And Handling Costs
ShippingAndHandlingCosts
13196 usd
CY2022 jmtm Shipping And Handling Costs
ShippingAndHandlingCosts
35122 usd
CY2022Q3 us-gaap Shares Outstanding
SharesOutstanding
100 shares
CY2022Q4 jmtm 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 jmtm 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 jmtm 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 jmtm 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
CY2023 us-gaap Debt Securities Available For Sale Purchased With Credit Deterioration Amount At Purchase Price
DebtSecuritiesAvailableForSalePurchasedWithCreditDeteriorationAmountAtPurchasePrice
1000000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
2439614 usd
CY2023Q4 jmtm Business Combination Provisional Information Initial Accounting Adjustment Intangibles
BusinessCombinationProvisionalInformationInitialAccountingAdjustmentIntangibles
3439614 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
21437 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
206536 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
10487 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
199584 usd
CY2023Q4 jmtm Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAssets
193839 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
99609 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
731492 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
704637 usd
CY2023Q4 jmtm Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Payroll
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedPayroll
172366 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt
1017771 usd
CY2023Q4 jmtm Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current And Non Curent Loan
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAndNonCurentLoan
1066012 usd
CY2023Q4 jmtm Operating Lease Liability Current And Non Current
OperatingLeaseLiabilityCurrentAndNonCurrent
210320 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
3171106 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
-2439614 usd
CY2022Q4 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
9420417 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2301112 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
911467 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1939896 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
789357 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2088274 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4150280 usd
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
1150539 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
780086 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
911467 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
52241 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10882 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
159142 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
200502 usd
CY2023 us-gaap Depreciation
Depreciation
41359 usd
CY2022 us-gaap Depreciation
Depreciation
10882 usd
CY2020 jmtm Lease Term Contract
LeaseTermContract
lease is for a 48.5-month term, expiring on July 31, 2024
CY2020 jmtm Lease Initial Payment
LeaseInitialPayment
8819 usd
CY2020 jmtm Straight Line Rent Installment
StraightLineRentInstallment
9522 usd
CY2023 jmtm Lease Term Contract
LeaseTermContract
additional operating lease that expires in January 2028
CY2023 jmtm Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P2Y10M6D
CY2022 jmtm Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P1Y6M29D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0756 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2023Q4 jmtm Right Of Use Assets Operating Leases
RightOfUseAssetsOperatingLeases
346986 usd
CY2022Q4 jmtm Right Of Use Assets Operating Leases
RightOfUseAssetsOperatingLeases
168339 usd
CY2023Q4 jmtm Operating Lease Liabilities Short Term
OperatingLeaseLiabilitiesShortTerm
81805 usd
CY2022Q4 jmtm Operating Lease Liabilities Short Term
OperatingLeaseLiabilitiesShortTerm
114400 usd
CY2023Q4 jmtm Operating Lease Liabilities Long Term
OperatingLeaseLiabilitiesLongTerm
288413 usd
CY2022Q4 jmtm Operating Lease Liabilities Long Term
OperatingLeaseLiabilitiesLongTerm
68953 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
141532 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
103661 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
107020 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
110228 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
9208 usd
CY2023Q4 jmtm Operating Lease Minimum Lease Payments
OperatingLeaseMinimumLeasePayments
471649 usd
CY2023Q4 jmtm Imputed Interest
ImputedInterest
-101431 usd
CY2023Q4 jmtm Future Minimum Lease Payments Current Value
FutureMinimumLeasePaymentsCurrentValue
370218 usd
CY2023Q4 jmtm Less Current Lease Liabilities
LessCurrentLeaseLiabilities
81805 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
288413 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
820208 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
723886 usd
CY2023Q4 us-gaap Credit Card Receivables
CreditCardReceivables
50040 usd
CY2022Q4 us-gaap Credit Card Receivables
CreditCardReceivables
156115 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
564213 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
26809 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
20755 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
14420 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
1455216 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
921230 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
646538 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
433849 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
536251 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
323562 usd
CY2023Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
110287 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
110287 usd
CY2023Q4 us-gaap Loans Payable
LoansPayable
828642 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
1075924 usd
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
760842 usd
CY2022Q4 us-gaap Loans Payable Current
LoansPayableCurrent
585831 usd
CY2023Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
67800 usd
CY2022Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
490093 usd
CY2021Q1 us-gaap Proceeds From Loans
ProceedsFromLoans
67900 usd
CY2021Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0375 pure
CY2023Q4 jmtm Accrued Interest Expense
AccruedInterestExpense
7204 usd
CY2022Q4 jmtm Accrued Interest Expense
AccruedInterestExpense
4661 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10000 shares
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
63150 usd
CY2023Q4 jmtm Deferred Tax Assets Operating Loss Carryforwards Domestic And Federal
DeferredTaxAssetsOperatingLossCarryforwardsDomesticAndFederal
6647817 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1000000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1000000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.50
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1000000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.50
CY2023 jmtm Warrant Exercisable
WarrantExercisable
1000000 shares
CY2023 jmtm Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrices
3.50
CY2022 jmtm Warrant Exercisable
WarrantExercisable
1000000 shares
CY2022 jmtm Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrices
3.50
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-2618965 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
113445 usd
CY2023 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-157114 usd
CY2022 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-91449 usd
CY2023 jmtm Net Loss Income Attributable To James Maritime Shareholders
NetLossIncomeAttributableToJamesMaritimeShareholders
-2461851 usd
CY2022 jmtm Net Loss Income Attributable To James Maritime Shareholders
NetLossIncomeAttributableToJamesMaritimeShareholders
204894 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9046047 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7842865 shares
CY2022 jmtm Dilutive Effect Of Convertible Debentures And Warrants
DilutiveEffectOfConvertibleDebenturesAndWarrants
428886 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9046047 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8271751 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2023 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
64783 shares
CY2023 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-2618965 usd
CY2022 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
113445 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
23823 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-114230 usd
CY2023 jmtm Employee Retention Credit
EmployeeRetentionCredit
0 usd
CY2022 jmtm Employee Retention Credit
EmployeeRetentionCredit
-621560 usd
CY2023 jmtm Non Deductible Amortization
NonDeductibleAmortization
433021 usd
CY2022 jmtm Non Deductible Amortization
NonDeductibleAmortization
164848 usd
CY2023 us-gaap Other Noncash Income Tax Expense
OtherNoncashIncomeTaxExpense
0 usd
CY2022 us-gaap Other Noncash Income Tax Expense
OtherNoncashIncomeTaxExpense
11364 usd
CY2023 jmtm Valuation Allowance Income Tax
ValuationAllowanceIncomeTax
2185944 usd
CY2022 jmtm Valuation Allowance Income Tax
ValuationAllowanceIncomeTax
535756 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1381803 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
846059 usd
CY2023Q4 jmtm Right Of Use Assets Deferred Tax Assets
RightOfUseAssetsDeferredTaxAssets
0 usd
CY2022Q4 jmtm Right Of Use Assets Deferred Tax Assets
RightOfUseAssetsDeferredTaxAssets
4202 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
-41359 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
-17785 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1340444 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
832476 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1340444 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
832476 usd
CY2023Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
0 usd

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