2023 Q1 Form 10-Q Financial Statement

#000147793223000473 Filed on January 23, 2023

View on sec.gov

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%

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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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<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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karx Statement Of Stockholders Equity
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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
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