2017 Q1 Form 10-Q Financial Statement

#000114420417028850 Filed on May 22, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $0.00 $0.00
YoY Change
Gross Profit $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $81.74K
YoY Change
% of Gross Profit
Research & Development $13.18K
YoY Change
% of Gross Profit
Depreciation & Amortization $153.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $226.0K $1.400K
YoY Change 16045.64%
Operating Profit -$226.0K -$1.400K
YoY Change 16045.64%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.585K
YoY Change
Pretax Income -$227.6K -$1.400K
YoY Change 16158.86%
Income Tax $200.00 $0.00
% Of Pretax Income
Net Earnings -$227.8K -$1.400K
YoY Change 16173.14%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 26.51M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $50.17K $9.087K $0.00
Short-Term Investments
Other Short-Term Assets $3.648K
YoY Change
Inventory $12.93K
Prepaid Expenses $56.78K $12.34K
Receivables
Other Receivables
Total Short-Term Assets $2.372M $164.1K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $462.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $462.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.372M $164.1K
Total Long-Term Assets $462.00
Total Assets $164.5K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $9.984K $13.49K
YoY Change 259.84%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.984K $431.7K
YoY Change 11411.63%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $0.00 $224.0K
YoY Change
Total Long-Term Liabilities $0.00 $224.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.984K $431.7K
Total Long-Term Liabilities $0.00 $224.0K
Total Liabilities $9.984K $237.5K
YoY Change 6233.17%
SHAREHOLDERS EQUITY
Retained Earnings -$191.6K -$1.934M
YoY Change 47507.34%
Common Stock $2.556M $1.664M
YoY Change 71876.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.362M -$267.2K
YoY Change
Total Liabilities & Shareholders Equity $2.372M $164.5K
YoY Change

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q1
OPERATING ACTIVITIES
Net Income -$227.8K -$1.400K
YoY Change 16173.14%
Depreciation, Depletion And Amortization $153.00 $0.00
YoY Change
Cash From Operating Activities -$158.9K -$40.00K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $200.0K $0.00
YoY Change
Cash From Investing Activities $200.0K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.260M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -$158.9K -40.00K
Cash From Investing Activities $200.0K 0.000
Cash From Financing Activities 0.000
Net Change In Cash $41.09K -40.00K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$158.9K -$40.00K
Capital Expenditures $0.00
Free Cash Flow -$40.00K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2016Q4 us-gaap Assets Current
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CY2016Q4 us-gaap Accrued Liabilities Current
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CY2017Q1 us-gaap Common Stock Discount On Shares
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CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q4 us-gaap Other Liabilities Noncurrent
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CY2016Q4 us-gaap Liabilities
Liabilities
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CY2017Q1 us-gaap Liabilities
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CY2017Q1 us-gaap Operating Expenses
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CY2017Q1 us-gaap Net Income Loss
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CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2017Q1 us-gaap Preferred Stock Value
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CY2016Q4 us-gaap Preferred Stock Value
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CY2017Q1 us-gaap Investment Income Interest
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CY2017Q1 us-gaap Revenues
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CY2017Q1 us-gaap Increase Decrease In Due From Related Parties
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CY2016Q1 us-gaap Increase Decrease In Due From Related Parties
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CY2016Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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CY2017Q1 us-gaap Income Taxes Paid
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CY2016Q1 us-gaap Income Taxes Paid
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CY2017Q1 us-gaap Interest Paid
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CY2016Q1 us-gaap Revenues
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CY2017Q1 us-gaap Cost Of Revenue
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CY2017Q1 us-gaap Gross Profit
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CY2016Q1 us-gaap Gross Profit
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CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2016Q1 us-gaap Interest Paid
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CY2017Q1 cik0001662684 Working Capital Deficit
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CY2017Q1 us-gaap Income Tax Expense Benefit
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CY2017Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016Q1 us-gaap Other Noncash Expense
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CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2017Q1 us-gaap Increase Decrease In Prepaid Expense
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CY2016Q1 us-gaap Increase Decrease In Prepaid Expense
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CY2017Q1 us-gaap Preferred Stock Shares Authorized
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CY2017Q1 us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <u><font style="mso-bidi-font-size: 10.0pt">USE OF ESTIMATES</font></u><font style="mso-bidi-font-size: 10.0pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <font style="mso-bidi-font-size: 10.0pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <font style="mso-bidi-font-size: 10.0pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the periods. The Company&#8217;s significant estimates and assumptions include the fair value of the Company&#8217;s stock and the valuation allowance related to the Company&#8217;s deferred tax assets. Certain of the Company&#8217;s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company&#8217;s estimates and could cause actual results to differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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