2023 Q4 Form 10-Q Financial Statement

#000147793223008496 Filed on November 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $1.434M $1.170M $1.129M
YoY Change 6.89% 3.63% 32.52%
Cost Of Revenue $985.5K $813.3K $652.5K
YoY Change 57.52% 24.65% 3.49%
Gross Profit $448.7K $356.3K $476.1K
YoY Change -37.52% -25.17% 115.3%
Gross Profit Margin 31.28% 30.46% 42.19%
Selling, General & Admin $356.1K $445.9K $324.5K
YoY Change 9.75% 37.41% -14.62%
% of Gross Profit 79.37% 125.15% 68.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $182.2K $180.0K $181.1K
YoY Change 0.61% -0.61% 0.0%
% of Gross Profit 40.61% 50.52% 38.04%
Operating Expenses $645.7K $717.3K $635.1K
YoY Change 11.51% 12.93% -21.55%
Operating Profit -$197.1K -$361.0K -$159.0K
YoY Change -244.73% 127.06% -72.98%
Interest Expense $22.94K $37.62K $51.03K
YoY Change -47.98% -26.27% -98.29%
% of Operating Profit
Other Income/Expense, Net $10.00 $0.00 $50.00
YoY Change -99.7% -100.0%
Pretax Income -$220.0K -$400.0K -$210.0K
YoY Change -10.51% 90.5% -107.1%
Income Tax
% Of Pretax Income
Net Earnings -$220.0K -$398.6K -$210.0K
YoY Change -330.63% 89.83% -107.1%
Net Earnings / Revenue -15.34% -34.08% -18.6%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$2.233K
COMMON SHARES
Basic Shares Outstanding 99.43M shares 99.43M shares 94.62M shares
Diluted Shares Outstanding 151.1M shares 145.7M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $226.7K $200.0K $225.3K
YoY Change -23.99% -11.24% -60.34%
Cash & Equivalents $226.7K $202.9K $225.3K
Short-Term Investments
Other Short-Term Assets $16.60K $20.00K $14.73K
YoY Change -31.91% 35.78% 44.7%
Inventory
Prepaid Expenses
Receivables $145.1K $127.2K $26.60K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $388.4K $345.9K $266.6K
YoY Change 1.85% 29.71% -57.96%
LONG-TERM ASSETS
Property, Plant & Equipment $1.500K $1.768M
YoY Change -99.91% -29.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $862.8K $1.044M $1.768M
YoY Change -45.64% -40.97% -29.06%
TOTAL ASSETS
Total Short-Term Assets $388.4K $345.9K $266.6K
Total Long-Term Assets $862.8K $1.044M $1.768M
Total Assets $1.251M $1.390M $2.035M
YoY Change -36.44% -31.71% -34.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $341.4K $312.1K $318.9K
YoY Change 71.75% -2.14% -17.38%
Accrued Expenses $1.093M $1.089M $1.055M
YoY Change 16.29% 3.3% 12.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.077M $1.100M $1.621M
YoY Change -32.04% -32.16% -6.26%
Total Short-Term Liabilities $2.512M $2.510M $3.007M
YoY Change -7.96% -16.52% -54.94%
LONG-TERM LIABILITIES
Long-Term Debt $463.4K $470.8K $500.0K
YoY Change -7.31% -5.85% 0.0%
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $463.4K $470.8K $500.0K
YoY Change -7.31% -5.85% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.512M $2.510M $3.007M
Total Long-Term Liabilities $463.4K $470.8K $500.0K
Total Liabilities $2.976M $2.981M $3.507M
YoY Change -7.86% -15.0% -51.11%
SHAREHOLDERS EQUITY
Retained Earnings -$25.05M -$24.83M -$24.06M
YoY Change 4.55% 3.22% 10.13%
Common Stock $99.43K $99.43K $94.61K
YoY Change 0.66% 5.09% 4.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.725M -$1.591M -$1.472M
YoY Change
Total Liabilities & Shareholders Equity $1.251M $1.390M $2.035M
YoY Change -36.44% -31.71% -34.92%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$220.0K -$398.6K -$210.0K
YoY Change -330.63% 89.83% -107.1%
Depreciation, Depletion And Amortization $182.2K $180.0K $181.1K
YoY Change 0.61% -0.61% 0.0%
Cash From Operating Activities $60.58K -$185.5K -$33.59K
YoY Change -45.04% 452.17% -71.16%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $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 -29.62K -$57.31K -$108.3K
YoY Change -20.61% -47.1%
NET CHANGE
Cash From Operating Activities 60.58K -$185.5K -$33.59K
Cash From Investing Activities 0.000 $0.00 $0.00
Cash From Financing Activities -29.62K -$57.31K -$108.3K
Net Change In Cash 30.96K -$242.8K -$141.9K
YoY Change -57.54% 71.07% 21.83%
FREE CASH FLOW
Cash From Operating Activities $60.58K -$185.5K -$33.59K
Capital Expenditures
Free Cash Flow
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>
CY2023Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain prior period amounts have been reclassified to conform with the current period presentation.</p>
CY2023Q3 lbuy Finite Lived Intangible Assets Software Platform
FiniteLivedIntangibleAssetsSoftwarePlatform
4482225 usd
CY2023Q2 lbuy Finite Lived Intangible Assets Software Platform
FiniteLivedIntangibleAssetsSoftwarePlatform
4482225 usd
CY2023Q3 lbuy Finite Lived Intangible Assets Furniture And Fixtures
FiniteLivedIntangibleAssetsFurnitureAndFixtures
1500 usd
CY2023Q2 lbuy Finite Lived Intangible Assets Furniture And Fixtures
FiniteLivedIntangibleAssetsFurnitureAndFixtures
1500 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-3438302 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-3258691 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1043922 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
181112 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
181111 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
724445 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
319478 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1043922 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000 shares
CY2023Q3 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
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
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
CY2019 lbuy Remaining Principal Amount
RemainingPrincipalAmount
90125 usd
CY2019Q2 lbuy Total Unpaid Principal Balance
TotalUnpaidPrincipalBalance
376657 usd
CY2020Q2 lbuy Edil Loan Amount
EDILLoanAmount
500000 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
37624 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
51027 usd
CY2023Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
746980 usd
CY2022Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
603639 usd
CY2023Q3 lbuy Weighted Average Interest Rate
WeightedAverageInterestRate
0.0549 pure
CY2022Q3 lbuy Weighted Average Interest Rate
WeightedAverageInterestRate
0.0647 pure
CY2023Q3 lbuy Notes Payable Non Current Portion
NotesPayableNonCurrentPortion
470756 usd
CY2023Q2 lbuy Notes Payable Non Current Portion
NotesPayableNonCurrentPortion
478067 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
1572375 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
1629686 usd
CY2023Q3 lbuy Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
1101619 usd
CY2023Q2 lbuy Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
1144108 usd
CY2023Q3 lbuy Options Nonvested Beginning Balance
OptionsNonvestedBeginningBalance
662608 shares
CY2023Q3 lbuy Weighted Average Grant Date Fair Falue Nonvested Beginning
WeightedAverageGrantDateFairFalueNonvestedBeginning
0.11
CY2023Q3 lbuy Options Granted
OptionsGranted
0 shares
CY2023Q3 lbuy Weighted Average Grant Date Fair Falue Granted
WeightedAverageGrantDateFairFalueGranted
0.00
CY2023Q3 lbuy Options Vested
OptionsVested
0 usd
CY2023Q3 lbuy Weighted Average Grant Date Fair Falue Vested
WeightedAverageGrantDateFairFalueVested
0.00
CY2023Q3 lbuy Weighted Average Grant Date Fair Falue Forfeited
WeightedAverageGrantDateFairFalueForfeited
0.00
CY2023Q3 lbuy Options Nonvested Ending Balance
OptionsNonvestedEndingBalance
662608 shares
CY2023Q3 lbuy Weighted Average Grant Date Fair Falue Nonvested Ending
WeightedAverageGrantDateFairFalueNonvestedEnding
0.11
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
28072364 shares
CY2023Q3 lbuy Aggregate Intrinsic Value
AggregateIntrinsicValue
0 usd
CY2023Q3 lbuy Lessee Operating Lease Term Period
LesseeOperatingLeaseTermPeriod
P12M
CY2023Q3 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company will recognize lease expense on a monthly basis through the life of this lease
CY2023Q3 us-gaap Operating Lease Initial Direct Cost Expense Over Term
OperatingLeaseInitialDirectCostExpenseOverTerm
51786 usd

Files In Submission

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0001477932-23-008496-index-headers.html Edgar Link pending
0001477932-23-008496-index.html Edgar Link pending
0001477932-23-008496.txt Edgar Link pending
0001477932-23-008496-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lbuy-20230930.xsd Edgar Link pending
lbuy_10q.htm Edgar Link pending
lbuy_ex311.htm Edgar Link pending
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