2023 Q3 Form 10-K Financial Statement
#000147793223007194 Filed on September 28, 2023
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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0 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
78476 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-317394 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
367245 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
684639 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
445721 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
367245 | usd |
CY2023 | us-gaap |
Interest Paid
InterestPaid
|
0 | usd |
CY2022 | us-gaap |
Interest Paid
InterestPaid
|
0 | usd |
CY2023 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | usd |
CY2022 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | usd |
CY2023 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
0 | usd |
CY2022 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
0 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-7224121 | usd |
CY2022 | lbuy |
Stock Based Compensation For Employees
StockBasedCompensationForEmployees
|
194121 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
93354 | usd |
CY2022 | lbuy |
Issuance Of Common Stock For Services Amount
IssuanceOfCommonStockForServicesAmount
|
175535 | usd |
CY2022 | lbuy |
Bifurcated Derivatives Ps A
BifurcatedDerivativesPsA
|
4392870 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
955695 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1412547 | usd |
CY2023 | lbuy |
Stock Based Compensation For Employees
StockBasedCompensationForEmployees
|
360105 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
30420 | usd |
CY2023 | lbuy |
Issuance Of Common Stock For Services Amount
IssuanceOfCommonStockForServicesAmount
|
72362 | usd |
CY2023 | lbuy |
Bifurcated Derivatives Ps A Amount
BifurcatedDerivativesPsAAmount
|
256000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-585211 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1278871 | usd |
CY2023Q2 | us-gaap |
Cash
Cash
|
445721 | usd |
CY2023Q2 | lbuy |
Working Capital Deficit
WorkingCapitalDeficit
|
-2018527 | usd |
CY2023 | lbuy |
Net Loss
NetLoss
|
-24435698 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
585209 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<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> | |
CY2023 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<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> | |
CY2023 | lbuy |
Weighted Average Interest Rate
WeightedAverageInterestRate
|
0.0513 | pure |
CY2022 | lbuy |
Weighted Average Interest Rate
WeightedAverageInterestRate
|
0.0513 | pure |
CY2023Q2 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2023Q2 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
195721 | usd |
CY2023Q2 | us-gaap |
Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
|
29119893 | shares |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
7471867 | shares | |
us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
13996800 | shares | |
CY2023Q2 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
18000000 | usd |
CY2023Q2 | lbuy |
Software Platform
SoftwarePlatform
|
4482225 | usd |
CY2022Q2 | lbuy |
Software Platform
SoftwarePlatform
|
4482225 | usd |
CY2023Q2 | lbuy |
Furniture And Fixtures
FurnitureAndFixtures
|
1500 | usd |
CY2022Q2 | lbuy |
Furniture And Fixtures
FurnitureAndFixtures
|
1500 | usd |
CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-3258691 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
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 |