2023 Q1 Form 10-Q Financial Statement
#000147793223000473 Filed on January 23, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 |
---|---|---|
Revenue | $7.823K | $0.00 |
YoY Change | ||
Cost Of Revenue | $1.190K | $0.00 |
YoY Change | ||
Gross Profit | $6.634K | $0.00 |
YoY Change | ||
Gross Profit Margin | 84.8% | |
Selling, General & Admin | $249.0K | $112.3K |
YoY Change | 354.88% | |
% of Gross Profit | 3752.64% | |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $290.00 | $300.00 |
YoY Change | ||
% of Gross Profit | 4.37% | |
Operating Expenses | $391.9K | $142.4K |
YoY Change | 20913.3% | 476.81% |
Operating Profit | -$385.3K | -$142.4K |
YoY Change | 20557.64% | |
Interest Expense | ||
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | $13.48K | $493.00 |
YoY Change | -102.0% | |
Pretax Income | -$371.8K | -$141.9K |
YoY Change | 19781.76% | 474.82% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$371.8K | -$141.9K |
YoY Change | 19781.76% | 474.77% |
Net Earnings / Revenue | -4752.51% | |
Basic Earnings Per Share | ||
Diluted Earnings Per Share | -$0.01 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 69.04M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $102.2K | $57.42K |
YoY Change | 72907.14% | 44069.23% |
Cash & Equivalents | $102.2K | $57.42K |
Short-Term Investments | ||
Other Short-Term Assets | $0.00 | $0.00 |
YoY Change | ||
Inventory | ||
Prepaid Expenses | $0.00 | $0.00 |
Receivables | $1.860K | |
Other Receivables | $24.18K | |
Total Short-Term Assets | $134.2K | $83.46K |
YoY Change | 95043.26% | 62182.84% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $5.507K | $5.773K |
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $1.138M | $1.125M |
YoY Change | ||
Other Assets | $90.38K | $83.51K |
YoY Change | ||
Total Long-Term Assets | $1.838M | $1.567M |
YoY Change | -39174850.0% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $134.2K | $83.46K |
Total Long-Term Assets | $1.838M | $1.567M |
Total Assets | $1.973M | $1.650M |
YoY Change | 1398842.55% | 1269476.15% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $56.66K | $72.75K |
YoY Change | 21199.62% | 770.26% |
Accrued Expenses | $3.150K | $4.600K |
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $99.60K | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $174.3K | $77.34K |
YoY Change | 64448.15% | -21.32% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $174.3K | $77.34K |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $174.3K | $77.34K |
YoY Change | 65416.92% | -21.32% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$850.3K | -$542.0K |
YoY Change | 320753.58% | 363.03% |
Common Stock | $70.04K | $69.04K |
YoY Change | 7.92% | 6.38% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.798M | $1.573M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.973M | $1.650M |
YoY Change | 1398842.55% | 1231578.36% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$371.8K | -$141.9K |
YoY Change | 19781.76% | 474.77% |
Depreciation, Depletion And Amortization | $290.00 | $300.00 |
YoY Change | ||
Cash From Operating Activities | -$484.1K | $68.66K |
YoY Change | -134586.11% | -36236.84% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $104.0K | $176.0K |
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | -$104.0K | -$176.0K |
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 | 599.6K | 0.000 |
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -484.1K | 68.66K |
Cash From Investing Activities | -104.0K | -176.0K |
Cash From Financing Activities | 599.6K | 0.000 |
Net Change In Cash | 11.45K | -107.3K |
YoY Change | 3080.56% | 56384.21% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$484.1K | $68.66K |
Capital Expenditures | $104.0K | $176.0K |
Free Cash Flow | -$588.1K | -$107.3K |
YoY Change | -163475.0% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2022Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
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karx |
Weighted Average Remaining Contractual Life In Years Granted
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|
P1Y6M | ||
karx |
Weighted Average Remaining Contractual Life In Years Ending Balance
WeightedAverageRemainingContractualLifeInYearsEndingBalance
|
P1Y4M13D | ||
dei |
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Yes | ||
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EntityCentralIndexKey
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0001729637 | ||
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Amendment Flag
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false | ||
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Current Fiscal Year End Date
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--05-31 | ||
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Q2 | ||
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2023 | ||
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0.001 | |
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2022-11-30 | ||
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000-56288 | ||
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KARBON-X CORP. | ||
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NV | ||
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Entity Tax Identification Number
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82-2882342 | ||
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1410 Columbia Ave | ||
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Castlegar | ||
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BC | ||
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CA | ||
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N1N 3K3 | ||
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778 | ||
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256-5730 | ||
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Entity Current Reporting Status
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Yes | ||
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Entity Filer Category
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Non-accelerated Filer | ||
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Weighted Average Basic And Diluted Shares Outstanding
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Shares To Be Issued For The Silviculture Investment
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1125000 | usd | |
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20,000-for-1 | ||
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20000000 | shares |
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Going Concern Policy Textblock
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<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 $542,018. 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 consolidated 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> | ||
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Retained Earnings Accumulated Deficit
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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4140000 | shares |
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Preparation of the consolidated 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> | ||
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2808 | usd |
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82209 | 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 |
us-gaap |
Depreciation
Depreciation
|
528 | usd | |
us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
720000 | shares | |
karx |
Stock Option Exercise Price
StockOptionExercisePrice
|
0.25 | ||
karx |
Proceeds From Issuance Of Private Placement1
ProceedsFromIssuanceOfPrivatePlacement1
|
180000 | usd | |
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. | ||
karx |
Statement Of Stockholders Equity
StatementOfStockholdersEquity
|
the purchase of up to 80% of Silviculture Systems to be issued in tranches based on completion of milestones. As of November 30, 2022, the Company has purchased 24% of Silviculture Systems for 4,500,000 shares of Karbon-X Corp shown as shares to be issued for a value of $1,125,000 | ||
CY2022Q4 | karx |
Warrants Issued
WarrantsIssued
|
720000 | shares |
us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
0.75 | ||
karx |
Value Of Warrants
ValueOfWarrants
|
180000 | usd | |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3420000 | shares |
CY2022Q2 | karx |
Share Based Compensation Arrangement By Share Based Payment Award Option Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice
|
0.75 | |
karx |
Weighted Average Remaining Contractual Life In Years Beginning Balance
WeightedAverageRemainingContractualLifeInYearsBeginningBalance
|
P1Y3M29D | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
720000 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.75 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
0 | ||
karx |
Share Based Compensation Arrangements By Share Based Payment Award Optionscancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionscancelledInPeriodWeightedAverageExercisePrice
|
0 | ||
CY2022Q4 | karx |
Share Exchange Agreement
ShareExchangeAgreement
|
0.80 | pure |
CY2022Q4 | karx |
Share Exchange Agreement Value
ShareExchangeAgreementValue
|
3750000 | usd |
us-gaap |
Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
|
30000 | usd | |
CY2022Q4 | us-gaap |
Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
|
352948 | usd |
CY2022Q2 | us-gaap |
Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
|
176777 | usd |