2023 Q3 Form 10-K Financial Statement

#000147793223007194 Filed on September 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $1.170M $1.330M $5.091M
YoY Change 3.63% 26.97% 33.72%
Cost Of Revenue $813.3K $780.0K $2.843M
YoY Change 24.65% 6.88% 4.76%
Gross Profit $356.3K $540.0K $2.248M
YoY Change -25.17% 69.94% 105.61%
Gross Profit Margin 30.46% 40.6% 44.16%
Selling, General & Admin $445.9K $1.620M $2.668M
YoY Change 37.41% -1.15% -1.11%
% of Gross Profit 125.15% 300.0% 118.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.0K $180.0K $720.0K
YoY Change -0.61% -0.62% -0.61%
% of Gross Profit 50.52% 33.33% 32.03%
Operating Expenses $717.3K $680.0K $2.668M
YoY Change 12.93% 8.82% -1.11%
Operating Profit -$361.0K -$140.0K -$420.2K
YoY Change 127.06% -54.42% -73.82%
Interest Expense $37.62K -$40.00K -$170.0K
YoY Change -26.27% -21.61% -108.49%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0%
Pretax Income -$400.0K -$170.0K -$590.0K
YoY Change 90.5% -52.54% -161.73%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$398.6K -$170.0K -$585.2K
YoY Change 89.83% -52.54% -161.23%
Net Earnings / Revenue -34.08% -12.78% -11.5%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 99.43M shares 95.43M shares 95.92M shares
Diluted Shares Outstanding 151.1M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $450.0K $450.0K
YoY Change -11.24% 22.53% 22.53%
Cash & Equivalents $202.9K $445.7K $450.0K
Short-Term Investments
Other Short-Term Assets $20.00K $30.00K $30.00K
YoY Change 35.78% 29.81% 29.81%
Inventory
Prepaid Expenses
Receivables $127.2K $135.5K $140.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $345.9K $610.5K $610.0K
YoY Change 29.71% 45.54% 45.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.225M $0.00
YoY Change -37.16% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.044M $1.225M $1.230M
YoY Change -40.97% -37.16% -36.91%
TOTAL ASSETS
Total Short-Term Assets $345.9K $610.5K $610.0K
Total Long-Term Assets $1.044M $1.225M $1.230M
Total Assets $1.390M $1.835M $1.840M
YoY Change -31.71% -22.52% -22.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $312.1K $308.8K $310.0K
YoY Change -2.14% -14.43% -14.11%
Accrued Expenses $1.089M $1.166M $1.170M
YoY Change 3.3% -1.04% -0.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $1.140M $1.140M
YoY Change -32.16% -34.1% -34.1%
Total Short-Term Liabilities $2.510M $2.629M $2.630M
YoY Change -16.52% -19.88% -19.85%
LONG-TERM LIABILITIES
Long-Term Debt $470.8K $485.4K $490.0K
YoY Change -5.85% -2.92% -2.0%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $470.8K $485.4K $490.0K
YoY Change -5.85% -2.92% -2.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.510M $2.629M $2.630M
Total Long-Term Liabilities $470.8K $485.4K $490.0K
Total Liabilities $2.981M $3.114M $3.110M
YoY Change -15.0% -17.64% -17.76%
SHAREHOLDERS EQUITY
Retained Earnings -$24.83M -$24.44M
YoY Change 3.22% 2.45%
Common Stock $99.43K $99.43K
YoY Change 5.09% 6.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.591M -$1.279M -$1.280M
YoY Change
Total Liabilities & Shareholders Equity $1.390M $1.835M $1.840M
YoY Change -31.71% -22.52% -22.33%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$398.6K -$170.0K -$585.2K
YoY Change 89.83% -52.54% -161.23%
Depreciation, Depletion And Amortization $180.0K $180.0K $720.0K
YoY Change -0.61% -0.62% -0.61%
Cash From Operating Activities -$185.5K $90.00K $422.6K
YoY Change 452.17% -244.72% -233.14%
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 -$57.31K -80.00K $0.00
YoY Change -47.1%
NET CHANGE
Cash From Operating Activities -$185.5K 90.00K $422.6K
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities -$57.31K -80.00K $0.00
Net Change In Cash -$242.8K 10.00K $78.48K
YoY Change 71.07% -116.08% -124.73%
FREE CASH FLOW
Cash From Operating Activities -$185.5K $90.00K $422.6K
Capital Expenditures $0.00 $0.00
Free Cash Flow $90.00K $422.6K
YoY Change -244.72% -233.14%

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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, 2022 to conform to the presentation as of and for the year ended June 30, 2023.</p>
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FiniteLivedIntangibleAssetsAccumulatedAmortization
-2534246 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1225034 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1949479 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
724445 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
500589 usd
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1225034 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000 shares
CY2023Q2 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
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 lbuy Derivative Liability
DerivativeLiability
324325 usd
CY2019 lbuy Amortization Of Beneficial Conversion Feature
AmortizationOfBeneficialConversionFeature
801741 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
CY2020 lbuy Promissory Note Default Amount
PromissoryNoteDefaultAmount
300000 usd
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000 usd
CY2019 lbuy Remaining Principal Amount
RemainingPrincipalAmount
90125 usd
CY2019Q2 lbuy Total Unpaid Principal Balance
TotalUnpaidPrincipalBalance
350221 usd
CY2020Q2 lbuy Edil Loan Amount
EDILLoanAmount
500000 usd
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
205814 usd
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
205814 usd
CY2023 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
552451 usd
CY2022 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
552451 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
478067 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
500000 usd
CY2023Q2 lbuy Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
1151619 usd
CY2022Q2 lbuy Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
1729802 usd
CY2023 lbuy Options Nonvested Beginning Balance
OptionsNonvestedBeginningBalance
13450170 shares
CY2023 lbuy Weighted Average Grant Date Fair Falue Nonvested Beginning
WeightedAverageGrantDateFairFalueNonvestedBeginning
0.11
CY2023 lbuy Options Granted
OptionsGranted
2500000 shares
CY2023 lbuy Weighted Average Grant Date Fair Falue Granted
WeightedAverageGrantDateFairFalueGranted
0.04
CY2023 lbuy Options Vested
OptionsVested
-15287562 usd
CY2023 lbuy Weighted Average Grant Date Fair Falue Vested
WeightedAverageGrantDateFairFalueVested
0.07
CY2023 lbuy Weighted Average Grant Date Fair Falue Forfeited
WeightedAverageGrantDateFairFalueForfeited
0.07
CY2023 lbuy Options Nonvested Ending Balance
OptionsNonvestedEndingBalance
662608 shares
CY2023 lbuy Weighted Average Grant Date Fair Falue Nonvested Ending
WeightedAverageGrantDateFairFalueNonvestedEnding
0.11
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29119898 shares
CY2023Q2 lbuy Aggregate Intrinsic Value
AggregateIntrinsicValue
0 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
51786 usd

Files In Submission

Name View Source Status
lbuy-20230630_lab.xml Edgar Link unprocessable
lbuy-20230630_pre.xml Edgar Link unprocessable
0001477932-23-007194-index-headers.html Edgar Link pending
0001477932-23-007194-index.html Edgar Link pending
0001477932-23-007194.txt Edgar Link pending
0001477932-23-007194-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lbuy-20230630.xsd Edgar Link pending
lbuy_10k.htm Edgar Link pending
lbuy_ex311.htm Edgar Link pending
lbuy_ex312.htm Edgar Link pending
lbuy_ex321.htm Edgar Link pending
lbuy_ex322.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
lbuy-20230630_cal.xml Edgar Link unprocessable
lbuy-20230630_def.xml Edgar Link unprocessable
lbuy_10k_htm.xml Edgar Link completed