$KARX
Karbon-X Corp.

2023 Q2 Form 10-Q Financial Statement

#000147793223002551 Filed on April 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.010K $7.823K $0.00
YoY Change
Cost Of Revenue -$170.00 $1.190K $0.00
YoY Change
Gross Profit $2.180K $6.634K $0.00
YoY Change
Gross Profit Margin 108.46% 84.8%
Selling, General & Admin $1.357M $249.0K
YoY Change
% of Gross Profit 62250.0% 3752.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $400.00 $290.00 $0.00
YoY Change
% of Gross Profit 18.35% 4.37%
Operating Expenses $1.323M $391.9K $1.865K
YoY Change 548.75% 20913.3% -84.84%
Operating Profit -$1.321M -$385.3K -$1.865K
YoY Change 547.69% 20557.64%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$20.82K $13.48K $0.00
YoY Change
Pretax Income -$1.342M -$371.8K -$1.870K
YoY Change 557.89% 19781.76% -84.8%
Income Tax
% Of Pretax Income
Net Earnings -$1.342M -$371.8K -$1.870K
YoY Change 557.89% 19781.76% -84.8%
Net Earnings / Revenue -66758.21% -4752.51%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 -$0.01 -$28.81
COMMON SHARES
Basic Shares Outstanding 70.04M shares 69.04M shares 64.90M shares
Diluted Shares Outstanding 64.90M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $206.8K $102.2K $140.00
YoY Change -56.67% 72907.14% -64.1%
Cash & Equivalents $206.8K $102.2K $141.00
Short-Term Investments
Other Short-Term Assets $59.77K $0.00 $0.00
YoY Change -66.72%
Inventory $80.75K
Prepaid Expenses $59.77K $0.00
Receivables
Other Receivables
Total Short-Term Assets $312.2K $134.2K $141.00
YoY Change -53.25% 95043.26% -63.85%
LONG-TERM ASSETS
Property, Plant & Equipment $9.116K $5.507K $0.00
YoY Change 180.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.514M $1.138M
YoY Change
Other Assets $88.27K $90.38K $0.00
YoY Change 14370.49%
Total Long-Term Assets $2.203M $1.838M $0.00
YoY Change 56867.73%
TOTAL ASSETS
Total Short-Term Assets $312.2K $134.2K $141.00
Total Long-Term Assets $2.203M $1.838M $0.00
Total Assets $2.515M $1.973M $141.00
YoY Change 274.5% 1398842.55% -63.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $69.73K $56.66K $266.00
YoY Change 126.74% 21199.62% -94.7%
Accrued Expenses $24.75K $3.150K
YoY Change 730.54%
Deferred Revenue
YoY Change
Short-Term Debt $100.0K $99.60K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $194.5K $174.3K $270.00
YoY Change 476.58% 64448.15% -99.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $55.42K
YoY Change
Total Long-Term Liabilities $55.42K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $194.5K $174.3K $270.00
Total Long-Term Liabilities $55.42K $0.00 $0.00
Total Liabilities $249.9K $174.3K $266.00
YoY Change 640.87% 65416.92% -99.58%
SHAREHOLDERS EQUITY
Retained Earnings -$2.192M -$850.3K -$265.00
YoY Change 973.36% 320753.58%
Common Stock $72.58K $70.04K $64.90K
YoY Change 6.23% 7.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.265M $1.798M -$125.00
YoY Change
Total Liabilities & Shareholders Equity $2.515M $1.973M $141.00
YoY Change 274.5% 1398842.55% -63.85%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.342M -$371.8K -$1.870K
YoY Change 557.89% 19781.76% -84.8%
Depreciation, Depletion And Amortization $400.00 $290.00 $0.00
YoY Change
Cash From Operating Activities -$612.2K -$484.1K $360.00
YoY Change 69.35% -134586.11% -427.27%
INVESTING ACTIVITIES
Capital Expenditures $69.83K $104.0K $0.00
YoY Change -2248.62%
Acquisitions
YoY Change
Other Investing Activities -$397.5K
YoY Change
Cash From Investing Activities -$467.4K -$104.0K $0.00
YoY Change 14280.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.176M 599.6K 0.000
YoY Change 37.59%
NET CHANGE
Cash From Operating Activities -612.2K -484.1K 360.0
Cash From Investing Activities -467.4K -104.0K 0.000
Cash From Financing Activities 1.176M 599.6K 0.000
Net Change In Cash 96.82K 11.45K 360.0
YoY Change -80.25% 3080.56% -427.27%
FREE CASH FLOW
Cash From Operating Activities -$612.2K -$484.1K $360.00
Capital Expenditures $69.83K $104.0K $0.00
Free Cash Flow -$682.0K -$588.1K $360.00
YoY Change 90.38% -163475.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Address Address Line1
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dei City Area Code
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dei Local Phone Number
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dei Entity Current Reporting Status
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KARBON-X CORP.
dei Entity Incorporation State Country Code
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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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FurnitureAndFixturesGross
1710 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1529 usd
us-gaap Depreciation
Depreciation
824 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 February 28, 2023, 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
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1000000 shares
karx Stock Option Exercise Price
StockOptionExercisePrice
0.50
karx Proceeds From Issuance Of Private Placement1
ProceedsFromIssuanceOfPrivatePlacement1
500000 usd
us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.75
CY2023Q1 karx Warrants Issued
WarrantsIssued
720000 shares
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 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.75
karx Weighted Average Remaining Contractual Life In Years Beginning Balance
WeightedAverageRemainingContractualLifeInYearsBeginningBalance
P1Y29D
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
karx Weighted Average Remaining Contractual Life In Years Granted
WeightedAverageRemainingContractualLifeInYearsGranted
P1Y3M
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Other Share Increase Decrease In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOtherShareIncreaseDecreaseInPeriodWeightedAverageExercisePrice
0
karx Weighted Average Remaining Contractual Life In Years Ending Balance
WeightedAverageRemainingContractualLifeInYearsEndingBalance
P1Y1M13D
CY2022Q4 karx Share Exchange Agreement Value
ShareExchangeAgreementValue
3750000 usd
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
147133 usd
CY2022Q4 karx Share Exchange Agreement
ShareExchangeAgreement
0.80 pure
CY2023Q3 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
456946 usd
CY2022Q2 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
176777 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.08 pure

Files In Submission

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0001477932-23-002551-index-headers.html Edgar Link pending
0001477932-23-002551-index.html Edgar Link pending
0001477932-23-002551.txt Edgar Link pending
0001477932-23-002551-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
karx-20230228.xsd Edgar Link pending
karx_10q.htm Edgar Link pending
karx_ex311.htm Edgar Link pending
karx_ex312.htm Edgar Link pending
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karx_10q_htm.xml Edgar Link completed