2022 Q3 Form 10-Q Financial Statement

#000149315222023730 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $10.43K $2.836K $27.65K
YoY Change 37.77%
Cost Of Revenue $9.718K $2.421K $12.86K
YoY Change -20.99%
Gross Profit $711.00 $415.00 $14.79K
YoY Change -115.03%
Gross Profit Margin 6.82% 14.63% 53.49%
Selling, General & Admin $217.1K $288.5K $652.6K
YoY Change -92.72% -79.35% -16.12%
% of Gross Profit 30530.24% 69518.07% 4412.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.800K $1.710K $0.00
YoY Change -100.0%
% of Gross Profit 253.16% 412.05% 0.0%
Operating Expenses $218.9K $290.2K $655.6K
YoY Change -92.66% -79.23% -15.73%
Operating Profit -$218.2K -$289.8K -$640.8K
YoY Change -92.7% -79.26% -17.63%
Interest Expense $456.4K $519.9K $1.144M
YoY Change -113.22% -112.86% -523.56%
% of Operating Profit
Other Income/Expense, Net $280.3K $501.5K
YoY Change -2933.84% -112.59%
Pretax Income $62.10K $211.7K $490.0K
YoY Change -100.97% -103.93% -146.3%
Income Tax
% Of Pretax Income
Net Earnings $62.10K $211.7K $490.0K
YoY Change -100.97% -103.93% -146.3%
Net Earnings / Revenue 595.47% 7465.8% 1772.3%
Basic Earnings Per Share $0.00 $0.00 $0.01
Diluted Earnings Per Share $823.50 $4.425K $10.25K
COMMON SHARES
Basic Shares Outstanding 69.84M shares 47.85M shares 47.80M shares
Diluted Shares Outstanding 75.41M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $274.8K $34.82K $184.5K
YoY Change -29.62% -96.43% -88.27%
Cash & Equivalents $274.8K $34.82K $184.5K
Short-Term Investments
Other Short-Term Assets $19.59K $14.55K $23.78K
YoY Change -16.6%
Inventory $195.3K $266.2K $269.3K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $616.5K $315.5K $477.6K
YoY Change -5.01% -72.48% -72.8%
LONG-TERM ASSETS
Property, Plant & Equipment $24.82K $26.63K $28.33K
YoY Change -31.14% 26.43% 39.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $100.00 $100.00 $100.00
YoY Change 0.0% 0.0% 0.0%
Other Assets $0.00
YoY Change
Total Long-Term Assets $24.92K $26.73K $28.43K
YoY Change -31.03% 26.3% 39.09%
TOTAL ASSETS
Total Short-Term Assets $616.5K $315.5K $477.6K
Total Long-Term Assets $24.92K $26.73K $28.43K
Total Assets $641.5K $342.3K $506.1K
YoY Change -6.38% -70.69% -71.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $314.8K $247.2K $250.2K
YoY Change 121.95% 101.77% 22.95%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $988.8K $2.504M $2.365M
YoY Change -46.98% 33.89% 48.28%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.419M $3.404M $3.784M
YoY Change -73.66% -45.95% 52.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.419M $3.404M $3.784M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.419M $3.404M $3.784M
YoY Change -73.66% -45.95% 52.36%
SHAREHOLDERS EQUITY
Retained Earnings -$25.21M -$25.27M
YoY Change
Common Stock $7.541K $4.784K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$777.7K -$3.062M -$3.278M
YoY Change
Total Liabilities & Shareholders Equity $641.5K $342.3K $506.1K
YoY Change -6.38% -70.69% -71.51%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $62.10K $211.7K $490.0K
YoY Change -100.97% -103.93% -146.3%
Depreciation, Depletion And Amortization $1.800K $1.710K $0.00
YoY Change -100.0%
Cash From Operating Activities -$467.3K -$531.2K -$478.4K
YoY Change -23.76% -37.08% -50.06%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 707.3K 381.5K 650.0K
YoY Change 1563.08% 54.39% -73.34%
NET CHANGE
Cash From Operating Activities -467.3K -531.2K -478.4K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 707.3K 381.5K 650.0K
Net Change In Cash 240.0K -149.7K $0.00
YoY Change -141.01% -74.96% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$467.3K -$531.2K -$478.4K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$467.3K -$531.2K -$478.4K
YoY Change -21.84% -37.03% -48.98%

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CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5381529 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-5130622 usd
us-gaap Net Income Loss
NetIncomeLoss
701770 usd
us-gaap Net Income Loss
NetIncomeLoss
-6439991 usd
us-gaap Depreciation
Depreciation
4711 usd
us-gaap Depreciation
Depreciation
10583 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1687112 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4130456 usd
KOAN Non Cash Interest Expense
NonCashInterestExpense
16142 usd
KOAN Stock Subscription Receivable
StockSubscriptionReceivable
-261059 usd
KOAN Share Professional Fees Compensation
ShareProfessionalFeesCompensation
206462 usd
KOAN Share Professional Fees Compensation
ShareProfessionalFeesCompensation
82473 usd
us-gaap Share Based Compensation
ShareBasedCompensation
986121 usd
KOAN Gain On Settlement Of Derivative Liabilities
GainOnSettlementOfDerivativeLiabilities
57500 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
20396 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
170886 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
3721 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
54599 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
40281 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-199986 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
9500 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-105000 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1009564 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1802187 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1009564 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1802187 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21063 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21063 usd
KOAN Proceeds From Subscription
ProceedsFromSubscription
392674 usd
KOAN Proceeds From Subscription
ProceedsFromSubscription
1319587 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
788800 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1870000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
150000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
504793 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1031474 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2684794 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
21910 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
861544 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12913 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
114325 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
34823 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
975869 usd
KOAN Interest Paid Nets
InterestPaidNets
58728 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
150000 usd
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
215177 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25272281 usd
CY2022Q2 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
598902 usd
CY2021Q4 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
2286014 usd
KOAN Property And Equipment Excess Capitalized Cost
PropertyAndEquipmentExcessCapitalizedCost
1000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_z1LbXiMFlGVd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zXoYmhMuVSFb">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2503800 usd
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1865000 usd
CY2022Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2503800 usd
CY2021Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
1865000 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
1715000 usd
CY2022Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
150000 usd
CY2022Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.10
CY2022Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
2000000.00 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
the Company signed a lease agreement that expires on thirty days’ notice.
us-gaap Payments For Rent
PaymentsForRent
2502 usd
us-gaap Payments For Rent
PaymentsForRent
1465 usd
CY2020Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
305590 usd
CY2020Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
90559 usd
CY2020Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
347565 usd
CY2020Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
-132534 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
usd
us-gaap Cost Of Revenue
CostOfRevenue
usd
us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
usd
CY2022Q2 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
usd
CY2022Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd

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