$KARX
Karbon-X Corp.

2022 Q3 Form 10-Q Financial Statement

#000147793222007719 Filed on October 17, 2022

View on sec.gov

Income Statement

Concept 2022 Q3
Revenue $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $97.26K
YoY Change 1083.21%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $229.00
YoY Change
% of Gross Profit
Operating Expenses $195.9K
YoY Change 2282.82%
Operating Profit -$195.9K
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$195.9K
YoY Change 2282.85%
Income Tax
% Of Pretax Income
Net Earnings -$195.9K
YoY Change 2281.66%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.844K
COMMON SHARES
Basic Shares Outstanding 69.04M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.5K
YoY Change 58178.13%
Cash & Equivalents $186.5K
Short-Term Investments
Other Short-Term Assets $317.8K
YoY Change 1488.9%
Inventory
Prepaid Expenses $317.8K
Receivables
Other Receivables
Total Short-Term Assets $524.8K
YoY Change 2482.73%
LONG-TERM ASSETS
Property, Plant & Equipment $6.267K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $87.35K
YoY Change
Total Long-Term Assets $93.62K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $524.8K
Total Long-Term Assets $93.62K
Total Assets $618.4K
YoY Change 2943.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.570K
YoY Change -44.74%
Accrued Expenses $3.070K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.640K
YoY Change -92.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.640K
Total Long-Term Liabilities $0.00
Total Liabilities $6.641K
YoY Change -92.92%
SHAREHOLDERS EQUITY
Retained Earnings -$400.1K
YoY Change 333.16%
Common Stock $69.04K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $611.8K
YoY Change
Total Liabilities & Shareholders Equity $618.4K
YoY Change 2943.44%

Cashflow Statement

Concept 2022 Q3
OPERATING ACTIVITIES
Net Income -$195.9K
YoY Change 2281.66%
Depreciation, Depletion And Amortization $229.00
YoY Change
Cash From Operating Activities -$457.4K
YoY Change 1524540.0%
INVESTING ACTIVITIES
Capital Expenditures $3.243K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.243K
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 $180.0K
YoY Change
NET CHANGE
Cash From Operating Activities -$457.4K
Cash From Investing Activities -$3.243K
Cash From Financing Activities $180.0K
Net Change In Cash -$290.9K
YoY Change 969406.67%
FREE CASH FLOW
Cash From Operating Activities -$457.4K
Capital Expenditures $3.243K
Free Cash Flow -$460.6K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
86595 usd
CY2022Q3 us-gaap Other General Expense
OtherGeneralExpense
98609 usd
CY2022Q3 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
0 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-195868 usd
CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-10217 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-206085 usd
CY2022Q3 karx Weighted Average Number Of Share Outstanding Basic And Diluted1
WeightedAverageNumberOfShareOutstandingBasicAndDiluted1
68882637 shares
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
195868 usd
CY2022Q3 karx Earnings Per Share Basic And Fully Diluted
EarningsPerShareBasicAndFullyDiluted
-0.00
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
637870 usd
CY2022Q3 karx Issuance Of Shares For Cash Amount
IssuanceOfSharesForCashAmount
717 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-195868 usd
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
0 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-10217 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
179283 usd
CY2022Q3 dei Entity Address City Or Town
EntityAddressCityOrTown
Castlegar
CY2022Q3 dei Entity Address State Or Province
EntityAddressStateOrProvince
BC
CY2022Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001729637
CY2022Q3 dei Amendment Flag
AmendmentFlag
false
CY2022Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-31
CY2022Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
68320000 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
69040000 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2022Q3 karx Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod
0 shares
CY2022Q3 dei Document Type
DocumentType
10-Q
CY2022Q3 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2022Q3 dei Document Period End Date
DocumentPeriodEndDate
2022-08-31
CY2022Q3 dei Entity File Number
EntityFileNumber
000-56288
CY2022Q3 dei Entity Registrant Name
EntityRegistrantName
KARBON-X CORP.
CY2022Q3 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2022Q3 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-2882342
CY2022Q3 dei Entity Address Address Line1
EntityAddressAddressLine1
1410 Columbia Ave.
CY2022Q3 dei Entity Address Country
EntityAddressCountry
CA
CY2022Q3 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
N1N 3K3
CY2022Q3 dei City Area Code
CityAreaCode
778
CY2022Q3 dei Local Phone Number
LocalPhoneNumber
256-5730
CY2022Q3 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022Q3 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022Q3 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2022Q3 dei Entity Small Business
EntitySmallBusiness
true
CY2022Q3 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2022Q3 dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
69040000 shares
CY2022Q3 karx Inventory
Inventory
86000 usd
CY2022Q2 karx Inventory
Inventory
0 usd
CY2022Q3 karx Due From Karbon X
DueFromKarbonX
0 usd
CY2022Q2 karx Due From Karbon X
DueFromKarbonX
0 usd
CY2022Q3 us-gaap Security Deposit
SecurityDeposit
1347 usd
CY2022Q2 us-gaap Security Deposit
SecurityDeposit
613 usd
CY2022Q3 us-gaap Assets
Assets
618426 usd
CY2022Q2 us-gaap Assets
Assets
671600 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
3570 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
30754 usd
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3072 usd
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2976 usd
CY2022Q3 us-gaap Liabilities
Liabilities
6641 usd
CY2022Q2 us-gaap Liabilities
Liabilities
33730 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
69040000 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
68320000 shares
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
69040 usd
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
68320 usd
CY2022Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
966102 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
786822 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-400096 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-204228 usd
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23262 usd
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-13044 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
611784 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
637870 usd
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
618426 usd
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
671600 usd
CY2022Q3 us-gaap Revenues
Revenues
0 usd
CY2022Q3 us-gaap Cost Of Revenue
CostOfRevenue
0 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
0 usd
CY2022Q3 us-gaap Marketing Expense
MarketingExpense
10664 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-195868 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
611784 usd
CY2022Q3 us-gaap Depreciation
Depreciation
229 usd
CY2022Q3 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
9732 usd
CY2022Q3 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-27184 usd
CY2022Q3 us-gaap Increase Decrease In Trading Liabilities
IncreaseDecreaseInTradingLiabilities
95 usd
CY2022Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
86000 usd
CY2022Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
138198 usd
CY2022Q3 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-735 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-457392 usd
CY2022Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3243 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3243 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
180000 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
180000 usd
CY2022Q3 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-10217 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-290852 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
477339 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186487 usd
CY2022Q3 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
134 usd
CY2022Q3 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
99902 usd
CY2022Q3 karx Going Concern Policy Textblock
GoingConcernPolicyTextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">To date the Company has generated no revenues from its business operations and has incurred operating losses since inception of $400,096.  The Company will require additional funding to meet its ongoing obligations and to fund anticipated operating losses.  The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations.  Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern.  The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty.</p>
CY2022Q3 us-gaap Other Operating Income
OtherOperatingIncome
400096 usd
CY2022Q3 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Accordingly, actual results could differ from those estimates. </p>
CY2022Q3 karx Warrants Issued
WarrantsIssued
720000 shares
CY2022Q3 karx Prepayments To Third Party App Developer Current
PrepaymentsToThirdPartyAppDeveloperCurrent
317783 usd
CY2022Q2 karx Prepayments To Third Party App Developer Current
PrepaymentsToThirdPartyAppDeveloperCurrent
176777 usd
CY2022Q3 karx Prepaid Accounting Services Current
PrepaidAccountingServicesCurrent
0 usd
CY2022Q2 karx Prepaid Accounting Services Current
PrepaidAccountingServicesCurrent
2544 usd
CY2022Q3 karx Prepaid Furniture Expenses Current
PrepaidFurnitureExpensesCurrent
0 usd
CY2022Q2 karx Prepaid Furniture Expenses Current
PrepaidFurnitureExpensesCurrent
264 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
317783 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
179585 usd
CY2022Q3 karx Carbon Credit Inventory
CarbonCreditInventory
86000 usd
CY2022Q2 karx Carbon Credit Inventory
CarbonCreditInventory
0 usd
CY2022Q3 us-gaap Other Inventory
OtherInventory
86000 usd
CY2022Q2 us-gaap Other Inventory
OtherInventory
0 usd
CY2022Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
1710 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1529 usd
CY2022Q3 us-gaap Depreciation
Depreciation
229 usd
CY2022Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
720000 shares
CY2022Q3 karx Per Unit Price
PerUnitPrice
0.25
CY2022Q3 karx Proceeds From Issuance Of Private Placement1
ProceedsFromIssuanceOfPrivatePlacement1
180000 usd
CY2022Q3 karx Share Of Common Stock In Warrant Desription
ShareOfCommonStockInWarrantDesription
Each unit consisted of share of common stock and warrant to purchase a share of common stock for $0.75 per share for a period of two years
CY2022Q3 us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.75
CY2022Q3 karx Value Of Warrants
ValueOfWarrants
179283 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3420000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.75
CY2022Q3 karx Weighted Average Remaining Contractual Life In Years Beginning Balance
WeightedAverageRemainingContractualLifeInYearsBeginningBalance
P1Y6M29D
CY2022Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
720000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.75
CY2022Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2022Q3 karx Share Based Compensation Arrangements By Share Based Payment Award Optionscancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionscancelledInPeriodWeightedAverageExercisePrice
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3420000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.75
CY2022Q3 karx Payment For Develop Thir Party App
PaymentForDevelopThirPartyApp
46733 usd

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