2022 Q3 Form 10-K Financial Statement

#000147793222007294 Filed on September 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022
Revenue $1.129M $1.048M $3.807M
YoY Change 32.52% 41.72% 42.76%
Cost Of Revenue $652.5K $729.8K $2.714M
YoY Change 3.49% 45.95% 39.62%
Gross Profit $476.1K $317.8K $1.093M
YoY Change 115.3% 32.87% 51.2%
Gross Profit Margin 42.19% 30.33% 28.72%
Selling, General & Admin $324.5K $1.639M $2.698M
YoY Change -14.62% 72.77% -11.67%
% of Gross Profit 68.15% 515.75% 246.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $181.1K $181.1K $724.5K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 38.04% 57.0% 66.26%
Operating Expenses $635.1K $624.9K $2.698M
YoY Change -21.55% -34.12% -11.67%
Operating Profit -$159.0K -$307.2K -$1.605M
YoY Change -72.98% -56.7% -31.16%
Interest Expense $51.03K -$51.03K $2.003M
YoY Change -98.29% -98.31% -160.61%
% of Operating Profit
Other Income/Expense, Net $50.00 $0.00
YoY Change -100.0%
Pretax Income -$210.0K -$358.2K $955.7K
YoY Change -107.1% -90.38% -119.0%
Income Tax
% Of Pretax Income
Net Earnings -$210.0K -$358.2K $955.7K
YoY Change -107.1% -90.38% -119.0%
Net Earnings / Revenue -18.6% -34.19% 25.1%
Basic Earnings Per Share $0.00 $0.01
Diluted Earnings Per Share -$2.233K -$3.811K $0.01
COMMON SHARES
Basic Shares Outstanding 94.62M shares 92.43M shares
Diluted Shares Outstanding 145.7M shares 143.1M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $225.3K $367.3K $367.3K
YoY Change -60.34% -46.36% -46.36%
Cash & Equivalents $225.3K $367.2K $367.3K
Short-Term Investments
Other Short-Term Assets $14.73K $23.11K $23.11K
YoY Change 44.7% 63.32% 63.32%
Inventory $0.00 $0.00
Prepaid Expenses
Receivables $26.60K $29.09K $29.09K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $266.6K $419.4K $419.4K
YoY Change -57.96% -42.56% -42.56%
LONG-TERM ASSETS
Property, Plant & Equipment $1.768M $1.949M $1.500K
YoY Change -29.06% -27.09% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $1.768M $1.949M $1.949M
YoY Change -29.06% -27.09% -27.09%
TOTAL ASSETS
Total Short-Term Assets $266.6K $419.4K $419.4K
Total Long-Term Assets $1.768M $1.949M $1.949M
Total Assets $2.035M $2.369M $2.369M
YoY Change -34.92% -30.41% -30.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $318.9K $360.9K $360.9K
YoY Change -17.38% 69.08% 69.08%
Accrued Expenses $1.055M $1.178M $1.178M
YoY Change 12.85% 22.91% 22.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.621M $1.730M $1.730M
YoY Change -6.26% 0.0% 0.0%
Total Short-Term Liabilities $3.007M $3.281M $3.281M
YoY Change -54.94% -65.71% -65.71%
LONG-TERM LIABILITIES
Long-Term Debt $500.0K $500.0K $500.0K
YoY Change 0.0% -52.74% -52.74%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $500.0K $500.0K $500.0K
YoY Change 0.0% -52.74% -52.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.007M $3.281M $3.281M
Total Long-Term Liabilities $500.0K $500.0K $500.0K
Total Liabilities $3.507M $3.781M $3.781M
YoY Change -51.11% -64.42% -64.42%
SHAREHOLDERS EQUITY
Retained Earnings -$24.06M -$23.85M
YoY Change 10.13% -3.85%
Common Stock $94.61K $93.32K
YoY Change 4.73% 4.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.472M -$1.413M -$1.413M
YoY Change
Total Liabilities & Shareholders Equity $2.035M $2.369M $2.369M
YoY Change -34.92% -30.41% -30.41%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022
OPERATING ACTIVITIES
Net Income -$210.0K -$358.2K $955.7K
YoY Change -107.1% -90.38% -119.0%
Depreciation, Depletion And Amortization $181.1K $181.1K $724.5K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$33.59K -$62.19K -$317.4K
YoY Change -71.16% -61.18% -63.02%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$108.3K 0.000 $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$33.59K -62.19K -$317.4K
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities -$108.3K 0.000 $0.00
Net Change In Cash -$141.9K -62.19K -$317.4K
YoY Change 21.83% -61.18% -49.24%
FREE CASH FLOW
Cash From Operating Activities -$33.59K -$62.19K -$317.4K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$62.19K -$317.4K
YoY Change -61.18% -63.02%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Management uses estimates and assumptions in preparing these consolidated financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Examples of estimates include loss contingencies; useful lives of our fixed assets and intangible assets; allowances for doubtful accounts; and stock-based compensation forfeiture rates. Examples of assumptions include: the elements comprising a software arrangement, including the distinction between upgrades or enhancements and new products; when technological feasibility is achieved for our products; the potential outcome of future tax consequences of events that have been recognized in our financial statements or tax returns. Actual results could differ from those estimates.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain reclassifications have been made to the financial statements as of and for the year ended June 30, 2021 to conform to the presentation as of and for the year ended June 30, 2022.</p>
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FurnitureAndFixtures
1500 usd
CY2021Q2 lbuy Furniture And Fixtures
FurnitureAndFixtures
1500 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-2534246 usd
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1809801 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1949479 usd
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2673924 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
724445 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
622359 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
459342 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
143333 usd
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1949479 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 lbuy Articles Of Amendment
ArticlesOfAmendment
the Company filed Articles of Amendment to Amended and Restated Articles of Incorporation with the State of Nevada increasing the number of common shares from 150,000,000 to 700,000,000
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 lbuy Derivative Liability
DerivativeLiability
324325 usd
CY2019 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
533000 usd
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
131000 usd
CY2021 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
300000 usd
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000 usd
CY2019 lbuy Remaining Principal Amount
RemainingPrincipalAmount
90125 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
330775 usd
CY2020 us-gaap Interest Expense Debt
InterestExpenseDebt
205814 usd
CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
233355 usd
CY2020 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
552451 usd
CY2021 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
419715 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
2633102 usd
CY2021Q2 us-gaap Notes Payable
NotesPayable
2633102 usd
CY2022Q2 lbuy Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
1575125 usd
CY2021Q2 lbuy Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
1575125 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
1057977 usd
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
1057977 usd
CY2022 lbuy Options Nonvested Beginning Balance
OptionsNonvestedBeginningBalance
12130179 shares
CY2022 lbuy Weighted Average Grant Date Fair Falue Nonvested Beginning
WeightedAverageGrantDateFairFalueNonvestedBeginning
0.11
CY2022 lbuy Options Granted
OptionsGranted
11850000 shares
CY2022 lbuy Weighted Average Grant Date Fair Falue Granted
WeightedAverageGrantDateFairFalueGranted
0.04
CY2022 lbuy Options Vested
OptionsVested
-2381892 usd
CY2022 lbuy Weighted Average Grant Date Fair Falue Vested
WeightedAverageGrantDateFairFalueVested
0.07
CY2022 lbuy Options Forfeited
OptionsForfeited
-8148117 shares
CY2022 lbuy Weighted Average Grant Date Fair Falue Forfeited
WeightedAverageGrantDateFairFalueForfeited
0.07
CY2022 lbuy Options Nonvested Ending Balance
OptionsNonvestedEndingBalance
13450170 shares
CY2022 lbuy Weighted Average Grant Date Fair Falue Nonvested Ending
WeightedAverageGrantDateFairFalueNonvestedEnding
0.11
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29119898 shares
CY2022Q2 lbuy Aggregate Intrinsic Value
AggregateIntrinsicValue
0 usd
CY2022Q2 lbuy Total Lease Liability
TotalLeaseLiability
51786 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
91316 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
94098 usd
CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
86970 usd
CY2022 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
25000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
61970 usd

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0001477932-22-007294.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
lbuy-20220630.xsd Edgar Link pending
lbuy_10k.htm Edgar Link pending
lbuy_ex311.htm Edgar Link pending
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