2023 Q4 Form 10-Q Financial Statement
#000147793223008496 Filed on November 15, 2023
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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Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
0 | usd |
CY2023Q3 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
0 | usd |
CY2022Q3 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
0 | usd |
CY2023Q3 | lbuy |
Forgiveness Of Ppp Loans
ForgivenessOfPppLoans
|
0 | usd |
CY2022Q3 | lbuy |
Forgiveness Of Ppp Loans
ForgivenessOfPppLoans
|
0 | usd |
CY2023Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
181112 | usd |
CY2022Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
181111 | usd |
CY2023Q3 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
8276 | usd |
CY2022Q3 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
2488 | usd |
CY2023Q3 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
13536 | usd |
CY2022Q3 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
8376 | usd |
CY2023Q3 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
3213 | usd |
CY2022Q3 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-42048 | usd |
CY2023Q3 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-79505 | usd |
CY2022Q3 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-124495 | usd |
CY2023Q3 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-185479 | usd |
CY2022Q3 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-33591 | usd |
CY2023Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd |
CY2022Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd |
CY2023Q3 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
57311 | usd |
CY2022Q3 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
108333 | usd |
CY2023Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-57311 | usd |
CY2022Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-108333 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-242790 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-141924 | 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 |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
202931 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
225321 | usd |
CY2023Q3 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2022Q3 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2023Q3 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2022Q3 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2023Q3 | lbuy |
Issuance Of Common Stock For Vendor Payments
IssuanceOfCommonStockForVendorPayments
|
0 | usd |
CY2022Q3 | lbuy |
Issuance Of Common Stock For Vendor Payments
IssuanceOfCommonStockForVendorPayments
|
28500 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
202931 | usd |
CY2023Q3 | lbuy |
Working Capital Deficit
WorkingCapitalDeficit
|
-2164148 | usd |
CY2023Q3 | lbuy |
Retained Earning Accumulated Deficit
RetainedEarningAccumulatedDeficit
|
-24435698 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-398598 | usd |
CY2023Q3 | 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 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 |