2022 Q4 Form 10-Q Financial Statement

#000149315222033105 Filed on November 21, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $8.580K $10.43K $7.570K
YoY Change -55.91% 37.77%
Cost Of Revenue $8.070K $9.718K $12.30K
YoY Change 17.98% -20.99%
Gross Profit $510.00 $711.00 -$4.730K
YoY Change -95.96% -115.03%
Gross Profit Margin 5.94% 6.82% -62.48%
Selling, General & Admin $239.9K $217.1K $2.984M
YoY Change -45.6% -92.72% 1163.37%
% of Gross Profit 47039.22% 30530.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.230K $1.800K $0.00
YoY Change
% of Gross Profit 241.18% 253.16%
Operating Expenses $241.1K $218.9K $2.984M
YoY Change -45.9% -92.66% 1163.37%
Operating Profit -$240.6K -$218.2K -$2.988M
YoY Change -44.44% -92.7% 1165.37%
Interest Expense -$57.21K $456.4K -$3.451M
YoY Change -105.41% -113.22% 13178.8%
% of Operating Profit
Other Income/Expense, Net $10.13K $280.3K -$9.890K
YoY Change -2933.84% -65.93%
Pretax Income -$110.3K $62.10K -$6.387M
YoY Change -117.67% -100.97% 1876.92%
Income Tax
% Of Pretax Income
Net Earnings -$110.3K $62.10K -$6.387M
YoY Change -117.67% -100.97% 1717.54%
Net Earnings / Revenue -1284.97% 595.47% -84370.41%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $823.50 -$205.5K
COMMON SHARES
Basic Shares Outstanding 75.41M shares 69.84M shares 31.09M shares
Diluted Shares Outstanding 75.41M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.42K $274.8K $390.5K
YoY Change 398.99% -29.62% 4234.41%
Cash & Equivalents $64.42K $274.8K $390.5K
Short-Term Investments
Other Short-Term Assets $0.00 $19.59K $23.49K
YoY Change -100.0% -16.6%
Inventory $160.5K $195.3K $235.0K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $374.9K $616.5K $649.0K
YoY Change 39.1% -5.01% 7103.33%
LONG-TERM ASSETS
Property, Plant & Equipment $24.11K $24.82K $36.05K
YoY Change -23.06% -31.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $100.00 $100.00 $100.00
YoY Change 0.0% 0.0% -99.6%
Other Assets $0.00 $0.00
YoY Change
Total Long-Term Assets $24.21K $24.92K $36.14K
YoY Change -22.99% -31.03% 44.56%
TOTAL ASSETS
Total Short-Term Assets $374.9K $616.5K $649.0K
Total Long-Term Assets $24.21K $24.92K $36.14K
Total Assets $399.1K $641.5K $685.2K
YoY Change 32.62% -6.38% 1914.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $319.6K $314.8K $141.9K
YoY Change 54.5% 121.95% -15.59%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $988.8K $988.8K $1.865M
YoY Change -46.98% -46.98% 116.95%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.546M $1.419M $5.388M
YoY Change -64.89% -73.66% 200.85%
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 $1.546M $1.419M $5.388M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.546M $1.419M $5.388M
YoY Change -64.89% -73.66% 200.85%
SHAREHOLDERS EQUITY
Retained Earnings -$25.32M -$25.21M
YoY Change -2.52%
Common Stock $7.544K $7.541K
YoY Change 67.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.147M -$777.7K -$4.703M
YoY Change
Total Liabilities & Shareholders Equity $399.1K $641.5K $685.2K
YoY Change 32.62% -6.38% 1914.58%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$110.3K $62.10K -$6.387M
YoY Change -117.67% -100.97% 1717.54%
Depreciation, Depletion And Amortization $1.230K $1.800K $0.00
YoY Change
Cash From Operating Activities $48.38K -$467.3K -$612.9K
YoY Change -109.09% -23.76% 13.62%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$14.99K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$14.99K
YoY Change -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 -258.8K 707.3K 42.53K
YoY Change -267.35% 1563.08% -89.79%
NET CHANGE
Cash From Operating Activities 48.38K -467.3K -612.9K
Cash From Investing Activities 0.000 0.000 -14.99K
Cash From Financing Activities -258.8K 707.3K 42.53K
Net Change In Cash -210.4K 240.0K -585.3K
YoY Change -44.27% -141.01% 377.05%
FREE CASH FLOW
Cash From Operating Activities $48.38K -$467.3K -$612.9K
Capital Expenditures $0.00 $0.00 -$14.99K
Free Cash Flow $48.38K -$467.3K -$597.9K
YoY Change -109.09% -21.84%

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WeightedAverageNumberOfSharesOutstandingBasic
31085610 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-4101931 usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
131525 usd
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
202047 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
490040 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-3278319 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
4505 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
211730 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-3062084 usd
CY2022Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
2249 usd
CY2022Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1976141 usd
CY2022Q3 KOAN Stock Issued During Period Value Stock Issuance In Private Placement
StockIssuedDuringPeriodValueStockIssuanceInPrivatePlacement
243917 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
62102 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-777675 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-996339 usd
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1722501 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-1058462 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-332300 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
583208 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5381529 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-5130621 usd
CY2021Q3 KOAN Non Cash Compensation
NonCashCompensation
328704 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
99274 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-4702643 usd
us-gaap Net Income Loss
NetIncomeLoss
763872 usd
us-gaap Net Income Loss
NetIncomeLoss
-6340715 usd
us-gaap Depreciation
Depreciation
6513 usd
us-gaap Depreciation
Depreciation
10583 usd
KOAN Derivative Gain Loss On Derivative Except Settlement Of Derivative Liabilities Net
DerivativeGainLossOnDerivativeExceptSettlementOfDerivativeLiabilitiesNet
2213527 usd
KOAN Derivative Gain Loss On Derivative Except Settlement Of Derivative Liabilities Net
DerivativeGainLossOnDerivativeExceptSettlementOfDerivativeLiabilitiesNet
-3106826 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
1267297 usd
KOAN Gain On Settlement Of Derivative Liabilities
GainOnSettlementOfDerivativeLiabilities
62500 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-50488 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
234998 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
23485 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
8762 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
54599 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
126811 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
107970 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-57091 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-2000 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-125000 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1476854 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2415066 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1476854 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2415066 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
36047 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36047 usd
KOAN Proceeds From Subscription
ProceedsFromSubscription
349981 usd
KOAN Proceeds From Subscription
ProceedsFromSubscription
1367115 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1388800 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1865000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
504793 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1738781 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2727322 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
261927 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
276209 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
274840 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
390534 usd
KOAN Interest Paid Nets
InterestPaidNets
38015 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
2265000 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
306858 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25210179 usd
CY2022Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
24840 usd
CY2022Q3 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
72487 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_843_eus-gaap--UseOfEstimates_zYFj85d8XMRj" 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_860_zmSQ8ujzwxhi">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>
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
988800 usd
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1865000 usd
CY2022Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
988800 usd
CY2021Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
1865000 usd
CY2022Q3 us-gaap Notes Payable
NotesPayable
200000 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
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3000000 shares
CY2019Q4 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
the Company signed a lease agreement that expires on thirty days’ notice. Rent expense was approximately $5,796 and $1,870 for the nine-months period ended September 30, 2022 and 2021, respectively
us-gaap Payments For Rent
PaymentsForRent
5796 usd
us-gaap Payments For Rent
PaymentsForRent
1870 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

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