2022 Q4 Form 10-Q Financial Statement

#000147793222008503 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $1.342M $1.129M $851.7K
YoY Change 45.24% 32.52% 30.48%
Cost Of Revenue $625.6K $652.5K $630.5K
YoY Change -5.51% 3.49% 38.33%
Gross Profit $718.1K $476.1K $221.2K
YoY Change 174.34% 115.3% 12.32%
Gross Profit Margin 53.52% 42.19% 25.97%
Selling, General & Admin $324.5K $324.5K $380.1K
YoY Change -10.11% -14.62% -23.22%
% of Gross Profit 45.18% 68.15% 171.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $181.1K $181.1K $181.1K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 25.22% 38.04% 81.89%
Operating Expenses $579.1K $635.1K $809.6K
YoY Change -22.86% -21.55% -12.18%
Operating Profit $136.2K -$159.0K -$588.5K
YoY Change -127.85% -72.98% -18.84%
Interest Expense $44.11K $51.03K $2.989M
YoY Change -104.98% -98.29% 283.1%
% of Operating Profit 32.39%
Other Income/Expense, Net $3.380K $50.00
YoY Change
Pretax Income -$245.9K -$210.0K $2.959M
YoY Change -82.1% -107.1% 5252.71%
Income Tax
% Of Pretax Income
Net Earnings $95.40K -$210.0K $2.959M
YoY Change -106.94% -107.1% 5252.72%
Net Earnings / Revenue 7.11% -18.6% 347.42%
Basic Earnings Per Share $0.00 $0.00 $0.04
Diluted Earnings Per Share $0.00 -$2.233K $0.01
COMMON SHARES
Basic Shares Outstanding 94.85M shares 94.62M shares 89.69M shares
Diluted Shares Outstanding 145.7M shares 145.7M shares 253.5M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $298.2K $225.3K $568.2K
YoY Change -34.05% -60.34% -35.6%
Cash & Equivalents $298.2K $225.3K $568.1K
Short-Term Investments
Other Short-Term Assets $24.38K $14.73K $10.18K
YoY Change 33.01% 44.7% -79.66%
Inventory
Prepaid Expenses
Receivables $58.66K $26.60K $55.87K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $381.3K $266.6K $634.2K
YoY Change -27.48% -57.96% -33.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.587M $1.768M $2.493M
YoY Change -31.34% -29.06% 1775.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change
Total Long-Term Assets $1.587M $1.768M $2.493M
YoY Change -31.34% -29.06% -25.56%
TOTAL ASSETS
Total Short-Term Assets $381.3K $266.6K $634.2K
Total Long-Term Assets $1.587M $1.768M $2.493M
Total Assets $1.969M $2.035M $3.127M
YoY Change -30.62% -34.92% -27.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $198.8K $318.9K $386.0K
YoY Change -41.51% -17.38% 140.79%
Accrued Expenses $939.5K $1.055M $934.4K
YoY Change -6.33% 12.85% -0.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.584M $1.621M $1.730M
YoY Change -8.42% -6.26% -21.06%
Total Short-Term Liabilities $2.730M $3.007M $6.672M
YoY Change -13.14% -54.94% 7.12%
LONG-TERM LIABILITIES
Long-Term Debt $500.0K $500.0K $500.0K
YoY Change 0.0% 0.0% -54.65%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $500.0K $500.0K $500.0K
YoY Change 0.0% 0.0% -55.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.730M $3.007M $6.672M
Total Long-Term Liabilities $500.0K $500.0K $500.0K
Total Liabilities $3.230M $3.507M $7.172M
YoY Change -11.34% -51.11% -2.56%
SHAREHOLDERS EQUITY
Retained Earnings -$23.97M -$24.06M -$21.85M
YoY Change 3.2% 10.13% 10.78%
Common Stock $98.77K $94.61K $90.34K
YoY Change 7.91% 4.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.261M -$1.472M -$4.045M
YoY Change
Total Liabilities & Shareholders Equity $1.969M $2.035M $3.127M
YoY Change -30.62% -34.92% -27.39%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $95.40K -$210.0K $2.959M
YoY Change -106.94% -107.1% 5252.72%
Depreciation, Depletion And Amortization $181.1K $181.1K $181.1K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities $110.2K -$33.59K -$116.5K
YoY Change -195.11% -71.16% -72.76%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.31K -$108.3K $0.00
YoY Change
NET CHANGE
Cash From Operating Activities 110.2K -$33.59K -$116.5K
Cash From Investing Activities 0.000 $0.00 $0.00
Cash From Financing Activities -37.31K -$108.3K $0.00
Net Change In Cash 72.92K -$141.9K -$116.5K
YoY Change -162.92% 21.83% -72.76%
FREE CASH FLOW
Cash From Operating Activities $110.2K -$33.59K -$116.5K
Capital Expenditures $0.00
Free Cash Flow -$116.5K
YoY Change

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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 condensed 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 tangible 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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CY2021Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
13776244 shares
CY2021Q3 lbuy Series A Convertible Preferred Stock
SeriesAConvertiblePreferredStock
116525995 usd
CY2022Q3 lbuy Software Platform
SoftwarePlatform
4482225 usd
CY2022Q2 lbuy Software Platform
SoftwarePlatform
4482225 usd
CY2022Q3 lbuy Furniture And Fixtures
FurnitureAndFixtures
1500 usd
CY2022Q2 lbuy Furniture And Fixtures
FurnitureAndFixtures
1500 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-2715357 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-2534246 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1768367 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1949479 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
181111 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
181111 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
724445 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
724445 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
319478 usd
CY2022Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1768367 usd
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000 shares
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 lbuy Increase In Common Shares
IncreaseInCommonShares
150000000 usd
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q3 lbuy Derivative Liability
DerivativeLiability
3671051 usd
CY2020 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
2930289 usd
CY2020 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
922314 usd
CY2019 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
533000 usd
CY2019 us-gaap Repayments Of Debt
RepaymentsOfDebt
402000 usd
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
131000 usd
CY2019 lbuy Remaining Principal Amount
RemainingPrincipalAmount
244802 usd
CY2022Q3 lbuy Total Unpaid Principal Balance
TotalUnpaidPrincipalBalance
359568 usd
CY2021Q3 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
300000 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
51188 usd
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
57286 usd
CY2022Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
603639 usd
CY2021Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
428929 usd
CY2022Q3 lbuy Weighted Average Interest Rate
WeightedAverageInterestRate
0.0647 pure
CY2021Q3 lbuy Weighted Average Interest Rate
WeightedAverageInterestRate
0.0513 pure
CY2022Q3 us-gaap Notes Payable
NotesPayable
2121469 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
2229802 usd
CY2022Q3 lbuy Less Current Portion Of Notes Payables
LessCurrentPortionOfNotesPayables
1621469 usd
CY2022Q2 lbuy Less Current Portion Of Notes Payables
LessCurrentPortionOfNotesPayables
1729802 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
500000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
500000 usd
CY2022Q3 lbuy Options Nonvested Beginning Balance
OptionsNonvestedBeginningBalance
13450170 shares
CY2022Q3 lbuy Weighted Average Grant Date Fair Falue Nonvested Beginning
WeightedAverageGrantDateFairFalueNonvestedBeginning
0.08
CY2022Q3 lbuy Weighted Average Grant Date Fair Falue Granted
WeightedAverageGrantDateFairFalueGranted
0.00
CY2022Q3 lbuy Options Vested
OptionsVested
0 usd
CY2022Q3 lbuy Weighted Average Grant Date Fair Falue Vested
WeightedAverageGrantDateFairFalueVested
0.04
CY2022Q3 lbuy Weighted Average Grant Date Fair Falue Forfeited
WeightedAverageGrantDateFairFalueForfeited
0.00
CY2022Q3 lbuy Options Nonvested Ending Balance
OptionsNonvestedEndingBalance
13450170 shares
CY2022Q3 lbuy Weighted Average Grant Date Fair Falue Nonvested Ending
WeightedAverageGrantDateFairFalueNonvestedEnding
0.08
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29119898 shares
CY2022Q3 lbuy Aggregate Intrinsic Value
AggregateIntrinsicValue
0 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
51786 usd

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0001477932-22-008503.txt Edgar Link pending
0001477932-22-008503-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lbuy-20220930.xsd Edgar Link pending
lbuy_10q.htm Edgar Link pending
lbuy_ex311.htm Edgar Link pending
lbuy-20220930_cal.xml Edgar Link unprocessable
lbuy-20220930_pre.xml Edgar Link unprocessable
lbuy-20220930_def.xml Edgar Link unprocessable
lbuy-20220930_lab.xml Edgar Link unprocessable
lbuy_10q_htm.xml Edgar Link completed
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