2024 Q3 Form 10-Q Financial Statement

#000147793224005855 Filed on September 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q1 2023
Revenue $1.609M $1.497M $5.091M
YoY Change 37.61% 16.37% 33.72%
Cost Of Revenue $860.2K $933.7K $2.843M
YoY Change 5.76% 21.3% 4.76%
Gross Profit $749.3K $563.1K $2.248M
YoY Change 110.31% 9.03% 105.61%
Gross Profit Margin 46.55% 37.62% 44.16%
Selling, General & Admin $716.8K $398.1K $2.668M
YoY Change 60.76% 19.8% -1.11%
% of Gross Profit 95.66% 70.7% 118.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $181.1K $720.0K
YoY Change 0.0% -0.61%
% of Gross Profit 32.17% 32.03%
Operating Expenses $716.8K $702.5K $2.668M
YoY Change -0.07% 7.82% -1.11%
Operating Profit $32.49K -$139.4K -$420.2K
YoY Change -109.0% 3.21% -73.82%
Interest Expense $20.99K $32.22K -$170.0K
YoY Change -44.22% -9.02% -108.49%
% of Operating Profit 64.6%
Other Income/Expense, Net -$20.99K $0.00 $0.00
YoY Change -100.0%
Pretax Income -$171.7K -$590.0K
YoY Change 0.7% -161.73%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $11.50K -$171.6K -$585.2K
YoY Change -102.89% 0.7% -161.23%
Net Earnings / Revenue 0.71% -11.47% -11.5%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 100.1M shares 99.43M shares 95.92M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.9K $450.0K
YoY Change -64.15% 22.53%
Cash & Equivalents $231.4K $155.9K $450.0K
Short-Term Investments
Other Short-Term Assets $21.00K $30.00K
YoY Change -23.3% 29.81%
Inventory
Prepaid Expenses
Receivables $91.03K $194.4K $140.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $329.6K $371.4K $610.0K
YoY Change -4.69% -29.58% 45.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.500K $0.00
YoY Change -99.89% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $477.9K $681.7K $1.230M
YoY Change -54.22% -51.52% -36.91%
TOTAL ASSETS
Total Short-Term Assets $329.6K $371.4K $610.0K
Total Long-Term Assets $477.9K $681.7K $1.230M
Total Assets $807.5K $1.053M $1.840M
YoY Change -41.9% -45.54% -22.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.4K $227.8K $310.0K
YoY Change -53.74% -19.83% -14.11%
Accrued Expenses $967.0K $1.075M $1.170M
YoY Change -11.23% -4.67% -0.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.067M $1.140M
YoY Change -28.06% -34.1%
Total Short-Term Liabilities $2.041M $2.383M $2.630M
YoY Change -18.67% -17.84% -19.85%
LONG-TERM LIABILITIES
Long-Term Debt $456.1K $490.0K
YoY Change -6.02% -2.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $456.1K $490.0K
YoY Change -6.02% -2.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.041M $2.383M $2.630M
Total Long-Term Liabilities $456.1K $490.0K
Total Liabilities $2.454M $2.839M $3.110M
YoY Change -17.68% -16.14% -17.76%
SHAREHOLDERS EQUITY
Retained Earnings -$25.13M -$25.23M
YoY Change 1.21% 3.95%
Common Stock $100.1K $100.1K
YoY Change 0.65% 4.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.646M -$1.786M -$1.280M
YoY Change
Total Liabilities & Shareholders Equity $807.5K $1.053M $1.840M
YoY Change -41.9% -45.54% -22.33%

Cashflow Statement

Concept 2024 Q3 2024 Q1 2023
OPERATING ACTIVITIES
Net Income $11.50K -$171.6K -$585.2K
YoY Change -102.89% 0.7% -161.23%
Depreciation, Depletion And Amortization $181.1K $720.0K
YoY Change 0.0% -0.61%
Cash From Operating Activities $211.2K -$53.43K $422.6K
YoY Change -213.85% -121.13% -233.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 -$145.1K -17.31K $0.00
YoY Change 153.23% -85.1%
NET CHANGE
Cash From Operating Activities $211.2K -53.43K $422.6K
Cash From Investing Activities 0.000 $0.00
Cash From Financing Activities -$145.1K -17.31K $0.00
Net Change In Cash $66.05K -70.74K $78.48K
YoY Change -127.2% -151.76% -124.73%
FREE CASH FLOW
Cash From Operating Activities $211.2K -$53.43K $422.6K
Capital Expenditures $0.00
Free Cash Flow $422.6K
YoY Change -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 condensed 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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us-gaap Profit Loss
ProfitLoss
-416320 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
279855 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
345981 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
3040 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
30420 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
543334 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
58944 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-8268 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-81071 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-87068 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-182846 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
329493 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
65000 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
171933 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
261805 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-106933 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-261805 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-289779 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
67688 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
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
lbuy Issuance Of Common Stock For Vendor Payments
IssuanceOfCommonStockForVendorPayments
3040 usd
lbuy Issuance Of Common Stock For Vendor Payments
IssuanceOfCommonStockForVendorPayments
30420 usd
CY2024Q1 lbuy Working Capital Deficit
WorkingCapitalDeficit
-2011802 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-697253 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
49982 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
49982 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13035433 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
13035433 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
13035433 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
lbuy Fixed Assets And Intangible Assets Depreciation Desription
FixedAssetsAndIntangibleAssetsDepreciationDesription
acquisition and implementation and enhancement costs during the first 2 year and are depreciated on a straight-line basis over their estimated useful lives of five to seven years
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
194420 usd
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
135476 usd
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
10029 usd
lbuy Deferred Revenue Earned
DeferredRevenueEarned
8349 usd
lbuy Customer Payments Received
CustomerPaymentsReceived
12571 usd
CY2024Q1 us-gaap Deferred Revenue
DeferredRevenue
14252 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
543333 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
543333 usd
us-gaap Payments For Loans
PaymentsForLoans
71000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
25000 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
lbuy Provision For Income Taxes
ProvisionForIncomeTaxes
0 usd
CY2023 lbuy Provision For Income Taxes
ProvisionForIncomeTaxes
0 usd
CY2024Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
10728983 usd
CY2023Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
10728983 usd
CY2024Q1 lbuy Other Temporary Differences
OtherTemporaryDifferences
2306450 usd
CY2023Q2 lbuy Other Temporary Differences
OtherTemporaryDifferences
2306450 usd
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13035433 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.00
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29119898 shares
CY2023Q2 lbuy Aggregate Intrinsic Value
AggregateIntrinsicValue
0 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
65000 usd
lbuy Debt Instruments Maturity Date
DebtInstrumentsMaturityDate
120 days
us-gaap Debt Conversion Converted Instrument Rate
DebtConversionConvertedInstrumentRate
0.12 pure

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lbuy-20240331.xsd Edgar Link pending
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