$KWIK
KwikClick, Inc.

2024 Q4 Form 10-Q Financial Statement

#000168316824008036 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $32.53K $91.09K
YoY Change -64.29% -45.37%
Cost Of Revenue $20.22K $88.55K
YoY Change -77.17% -30.02%
Gross Profit $12.31K $2.542K
YoY Change 384.42% -93.68%
Gross Profit Margin 37.85% 2.79%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $78.38K $182.0K
YoY Change -56.92% -28.84%
% of Gross Profit 636.54% 7158.34%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $78.38K $182.0K
YoY Change -56.92% -81.92%
Operating Profit -$66.07K -$179.4K
YoY Change -63.18% -78.64%
Interest Expense $62.84K $25.39K
YoY Change 147.53% 314.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$368.6K -$1.190M
YoY Change -69.02% 41.64%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$368.6K -$1.190M
YoY Change -69.02% 41.64%
Net Earnings / Revenue -1132.97% -1306.12%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 155.6M shares 153.1M shares 151.1M shares
Diluted Shares Outstanding 153.7M shares 151.1M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $426.1K $27.63K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $451.6K $27.63K
YoY Change 1534.43% 12.89%
LONG-TERM ASSETS
Property, Plant & Equipment $3.685K $4.792K
YoY Change -23.1% -18.78%
Goodwill
YoY Change
Intangibles $1.334M $1.490M
YoY Change -10.46%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.386M $1.573M
YoY Change -11.9% 59.01%
TOTAL ASSETS
Total Short-Term Assets $451.6K $27.63K
Total Long-Term Assets $1.386M $1.573M
Total Assets $1.837M $1.601M
YoY Change 14.79% 57.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $753.6K $954.7K
YoY Change -21.07% 138.44%
Accrued Expenses $93.31K $147.7K
YoY Change -36.84% 85.1%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.647M $2.650M
YoY Change 37.61% 117.22%
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 $3.647M $2.650M
Total Long-Term Liabilities
Total Liabilities $3.647M $2.674M
YoY Change 36.37% 105.47%
SHAREHOLDERS EQUITY
Retained Earnings -$11.85M -$9.340M
YoY Change 26.84% 64.86%
Common Stock $15.57K $15.14K
YoY Change 2.84% 17.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.809M -$1.074M
YoY Change
Total Liabilities & Shareholders Equity $1.837M $1.601M
YoY Change 14.79% 57.89%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$368.6K -$1.190M
YoY Change -69.02% 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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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30583 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
426108 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27632 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 Stock Appreciation Rights Issued For Liability Settlement
StockAppreciationRightsIssuedForLiabilitySettlement
0 usd
KWIK Stock Appreciation Rights Issued For Liability Settlement
StockAppreciationRightsIssuedForLiabilitySettlement
9078 usd
KWIK Purchases Of Intellectual Property In Accounts Payable
PurchasesOfIntellectualPropertyInAccountsPayable
0 usd
KWIK Purchases Of Intellectual Property In Accounts Payable
PurchasesOfIntellectualPropertyInAccountsPayable
295971 usd
KWIK Capital Contribution For Settlement Of Stock Issuable
CapitalContributionForSettlementOfStockIssuable
0 usd
KWIK Capital Contribution For Settlement Of Stock Issuable
CapitalContributionForSettlementOfStockIssuable
4010 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zH7I91katAYb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>NOTE 1. <span id="xdx_823_zKc8Rnhavgn4">BUSINESS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white"><b>Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since the commencement of the Kwik platform, the Company has accumulated a deficit of $<span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20240930_zWgnUZSHwpWj">11,846,423</span> and working capital deficit of $<span id="xdx_907_ecustom--WorkingCapital_iN_di_c20240930_z8p34prtMkK8">3,195,178</span> as of September 30, 2024. The Company will require additional funding to finance the growth of its future operations as well as to achieve its strategic objectives. This raises substantial doubt about the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and generate revenue. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p>
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11846423 usd
CY2024Q3 KWIK Working Capital
WorkingCapital
-3195178 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_znxEDDM4dVZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Use of Estimates</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2024Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
0 usd
CY2023Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
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_84F_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zhTwjqhhMjBb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white"><b>Reclassification</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications are not material and had no effect 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; text-indent: 0.5in"> </p>
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
562 usd
us-gaap Share Based Compensation
ShareBasedCompensation
408420 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
658207 usd
us-gaap Share Based Compensation
ShareBasedCompensation
807601 usd
CY2024Q3 KWIK Due To Related Parties Current1
DueToRelatedPartiesCurrent1
2778918 usd
CY2023Q4 KWIK Due To Related Parties Current1
DueToRelatedPartiesCurrent1
1754445 usd
CY2024Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
62843 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
165179 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
25388 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
38496 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001683168-24-008036-index-headers.html Edgar Link pending
0001683168-24-008036-index.html Edgar Link pending
0001683168-24-008036.txt Edgar Link pending
0001683168-24-008036-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
kwik-20240930.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-093024.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
kwik-20240930_cal.xml Edgar Link unprocessable
kwik-20240930_def.xml Edgar Link unprocessable
kwik-20240930_lab.xml Edgar Link unprocessable
kwik-20240930_pre.xml Edgar Link unprocessable
kwikclick_i10q-093024_htm.xml Edgar Link completed