$KWIK
KwikClick, Inc.

2023 Q4 Form 10-Q Financial Statement

#000168316823007962 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $91.09K
YoY Change -45.37%
Cost Of Revenue $88.55K
YoY Change -30.02%
Gross Profit $2.542K
YoY Change -93.68%
Gross Profit Margin 2.79%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $182.0K
YoY Change -28.84%
% of Gross Profit 7158.34%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $182.0K
YoY Change -81.92%
Operating Profit -$179.4K
YoY Change -78.64%
Interest Expense $25.39K
YoY Change 314.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.190M
YoY Change 41.64%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.190M
YoY Change 41.64%
Net Earnings / Revenue -1306.12%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding 151.7M shares 151.1M shares 128.8M shares
Diluted Shares Outstanding 151.1M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $64.19K $27.63K $30.58K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $80.69K $27.63K $30.58K
YoY Change 163.84% 12.89% -94.99%
LONG-TERM ASSETS
Property, Plant & Equipment $4.515K $4.792K $5.623K
YoY Change -19.7% -18.78% 113.4%
Goodwill
YoY Change
Intangibles $1.406M $1.490M $1.067M
YoY Change 31.84%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.475M $1.573M $1.191M
YoY Change 23.85% 59.01% 93.31%
TOTAL ASSETS
Total Short-Term Assets $80.69K $27.63K $30.58K
Total Long-Term Assets $1.475M $1.573M $1.191M
Total Assets $1.556M $1.601M $1.222M
YoY Change 27.36% 57.89% -0.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $962.6K $954.7K $546.8K
YoY Change 76.03% 138.44% -4.54%
Accrued Expenses $120.9K $147.7K $124.6K
YoY Change -2.96% 85.1% -63.9%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.820M $2.650M $729.7K
YoY Change 286.43% 117.22% -64.2%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.820M $2.650M $729.7K
Total Long-Term Liabilities
Total Liabilities $2.830M $2.674M $795.7K
YoY Change 255.63% 105.47% -60.96%
SHAREHOLDERS EQUITY
Retained Earnings -$10.40M -$9.340M -$6.499M
YoY Change 60.05% 64.86% 154.61%
Common Stock $15.32K $15.14K $14.95K
YoY Change 2.48% 17.47% 28.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.274M -$1.074M $426.0K
YoY Change
Total Liabilities & Shareholders Equity $1.556M $1.601M $1.222M
YoY Change 27.36% 57.89% -0.35%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$1.190M
YoY Change 41.64%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-585386 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30583 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
609862 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27632 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24476 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
KWIK Common Stock Issued For Intellectual Property
CommonStockIssuedForIntellectualProperty
0 usd
KWIK Common Stock Issued For Intellectual Property
CommonStockIssuedForIntellectualProperty
100000 usd
KWIK Common Stock Issued For Stock Issuable Settlement
CommonStockIssuedForStockIssuableSettlement
0 usd
KWIK Common Stock Issued For Stock Issuable Settlement
CommonStockIssuedForStockIssuableSettlement
1041200 usd
KWIK Common Stock Issued For Accrued Compensation
CommonStockIssuedForAccruedCompensation
0 usd
KWIK Common Stock Issued For Accrued Compensation
CommonStockIssuedForAccruedCompensation
333334 usd
KWIK Stock Appreciation Rights Issued For Liability Settlement
StockAppreciationRightsIssuedForLiabilitySettlement
9078 usd
KWIK Stock Appreciation Rights Issued For Liability Settlement
StockAppreciationRightsIssuedForLiabilitySettlement
0 usd
KWIK Purchases Of Intellectual Property In Accounts Payable
PurchasesOfIntellectualPropertyInAccountsPayable
295971 usd
KWIK Purchases Of Intellectual Property In Accounts Payable
PurchasesOfIntellectualPropertyInAccountsPayable
0 usd
KWIK Capital Contribution For Settlement Of Stock Issuable
CapitalContributionForSettlementOfStockIssuable
4010 usd
KWIK Capital Contribution For Settlement Of Stock Issuable
CapitalContributionForSettlementOfStockIssuable
0 usd
KWIK Recognition Of Right Of Use Asset And Lease Obligations
RecognitionOfRightOfUseAssetAndLeaseObligations
0 usd
KWIK Recognition Of Right Of Use Asset And Lease Obligations
RecognitionOfRightOfUseAssetAndLeaseObligations
157097 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zcUalyiqfNHb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1. <span id="xdx_82D_zw4NIj66dc8i">BUSINESS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">KwikClick, Inc., (the “Company” or “Kwik”) was organized pursuant to the laws of the State of Delaware on November 16, 1993. Beginning in 2020, the Company commenced its Kwik business operations to allow sellers to make products or services available on the Kwik platform, at Kwik.com, offering a self-determined incentive budget on goods or services in exchange for exposure and substantially increased sales volume. Kwik is a social interaction, selling, and referral software platform. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zTAiRq6QLJC9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
0 usd
CY2022Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
0 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
0 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
0 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_848_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zWg8Bc14OeC9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><b>Reclassifications</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="color: #374151">The </span><span>Company reclassified certain general and administrative and management and payroll costs totaling approximately $255,715 and $925,012 to research and development in the consolidated statements of operations for the three and nine months ended September 30, 2022 to conform to the current period presentation. These reclassifications did not have any impact on the previously reported financial position, results of operations, or cash flows. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-9340010 usd
CY2023Q3 KWIK Working Capital
WorkingCapital
-2622414 usd
KWIK Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Other Than Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOtherThanOptionsWeightedAverageRemainingContractualTerm2
P1Y9M
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2386181 shares

Files In Submission

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0001683168-23-007962-index-headers.html Edgar Link pending
0001683168-23-007962-index.html Edgar Link pending
0001683168-23-007962.txt Edgar Link pending
0001683168-23-007962-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
kwik-20230930.xsd Edgar Link pending
kwikclick_ex3101.htm Edgar Link pending
kwikclick_ex3102.htm Edgar Link pending
kwikclick_ex3201.htm Edgar Link pending
kwikclick_ex3202.htm Edgar Link pending
kwikclick_i10q-093023.htm Edgar Link pending
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R20.htm Edgar Link pending
R21.htm Edgar Link pending
kwikclick_i10q-093023_htm.xml Edgar Link completed
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kwik-20230930_def.xml Edgar Link unprocessable
kwik-20230930_lab.xml Edgar Link unprocessable