$LBUY
LEAFBUYER TECHNOLOGIES, INC.

2024 Q3 Form 10-Q Financial Statement

#000147793224007475 Filed on November 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $1.609M
YoY Change 37.61%
Cost Of Revenue $860.2K
YoY Change 5.76%
Gross Profit $749.3K
YoY Change 110.31%
Gross Profit Margin 46.55%
Selling, General & Admin $716.8K
YoY Change 60.76%
% of Gross Profit 95.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $716.8K
YoY Change -0.07%
Operating Profit $32.49K
YoY Change -109.0%
Interest Expense $20.99K
YoY Change -44.22%
% of Operating Profit 64.6%
Other Income/Expense, Net -$20.99K
YoY Change
Pretax Income
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings $11.50K
YoY Change -102.89%
Net Earnings / Revenue 0.71%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 100.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $231.4K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $91.03K
Other Receivables
Total Short-Term Assets $329.6K
YoY Change -4.69%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $477.9K
YoY Change -54.22%
TOTAL ASSETS
Total Short-Term Assets $329.6K
Total Long-Term Assets $477.9K
Total Assets $807.5K
YoY Change -41.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.4K
YoY Change -53.74%
Accrued Expenses $967.0K
YoY Change -11.23%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.041M
YoY Change -18.67%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.041M
Total Long-Term Liabilities
Total Liabilities $2.454M
YoY Change -17.68%
SHAREHOLDERS EQUITY
Retained Earnings -$25.13M
YoY Change 1.21%
Common Stock $100.1K
YoY Change 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.646M
YoY Change
Total Liabilities & Shareholders Equity $807.5K
YoY Change -41.9%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $11.50K
YoY Change -102.89%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $211.2K
YoY Change -213.85%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 -$145.1K
YoY Change 153.23%
NET CHANGE
Cash From Operating Activities $211.2K
Cash From Investing Activities
Cash From Financing Activities -$145.1K
Net Change In Cash $66.05K
YoY Change -127.2%
FREE CASH FLOW
Cash From Operating Activities $211.2K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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LEAFBUYER TECHNOLOGIES, INC.
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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 materially differ from those estimates.</p>
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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
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Accounting Standards Codification (“ASC”) Topic 350, “Intangibles - Goodwill and Other” includes software that is part of a product or process to be sold to a customer and shall be accounted for under Subtopic 985-20. Our products contain embedded software internally developed by FTI, which is an integral part of these products because it allows the various components of the products to communicate with each other and the products are clearly unable to function without this coding.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The costs of product development that are capitalized once technological feasibility is determined (noted as Technology in progress in the Intangible Assets table, in Note 2 to Notes to Consolidated Financial Statements) include certifications, licenses, payroll, employee benefits, and other headcount-related expenses associated with product development. We determine that technological feasibility for our products is reached after all high-risk development issues have been resolved. Once the products are available for general release to our customers, we cease capitalizing the product development costs and any additional costs, if any, are expensed. The capitalized product development costs are amortized on a product-by-product basis using the straight-line amortization. The amortization begins when the products are available for general release to our customers.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As of September 30, 2024 and June 30, 2024, capitalized product development costs in progress were $0, respectively. For the periods ending September 30, 2024 and June 30, 2024, we incurred $0 and $0, respectively in capitalized product development costs, and all costs incurred before technological feasibility is reached are expensed and included in our consolidated statements of comprehensive income (loss).</p>
CY2024Q3 lbuy Capitalized Software Development Costs
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CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
11140 usd
CY2024Q3 lbuy Deferred Revenue Earned
DeferredRevenueEarned
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CY2024Q3 lbuy Customer Payments Received
CustomerPaymentsReceived
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CY2024Q3 us-gaap Deferred Revenue
DeferredRevenue
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FiniteLivedIntangibleAssetsGross
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
476856 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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333522 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
143332 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000 shares
CY2024Q3 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
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
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CY2023Q3 lbuy Related Party Transaction Amounts Of Transaction Interest Expense
RelatedPartyTransactionAmountsOfTransactionInterestExpense
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CY2024Q3 us-gaap Notes Payable
NotesPayable
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CY2024Q2 us-gaap Notes Payable
NotesPayable
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CY2024Q3 lbuy Less Current Portion Of Notes Payables
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429000 usd
CY2024Q2 lbuy Less Current Portion Of Notes Payables
LessCurrentPortionOfNotesPayables
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CY2024Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
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CY2024Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
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CY2024Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
4488 usd
CY2023Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
4500 usd
CY2024Q3 lbuy Notes Payable To Bank Current Eidl Loan
NotesPayableToBankCurrentEIDLLoan
0 usd
CY2024Q2 lbuy Notes Payable To Bank Current Eidl Loan
NotesPayableToBankCurrentEIDLLoan
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CY2024Q3 lbuy Notes Payable To Bank Noncurrent Eidl Loan
NotesPayableToBankNoncurrentEIDLLoan
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NotesPayableToBankNoncurrentEIDLLoan
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CY2024Q3 us-gaap Interest Expense Other
InterestExpenseOther
4128 usd
CY2023Q3 us-gaap Interest Expense Other
InterestExpenseOther
4128 usd
CY2024Q3 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
464802 usd
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CY2024Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
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CY2023Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
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CY2024Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
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CY2023Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
0 usd
CY2024Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
9757 usd
CY2023Q3 us-gaap Interest Expense Debt
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CY2024Q3 us-gaap Current Federal Tax Expense Benefit
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CY2024Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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CY2024Q3 us-gaap Deferred Tax Assets Other
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2306450 usd
CY2023Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2306450 usd
CY2024Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13035433 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13035433 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
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13035433 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Beat Amount
EffectiveIncomeTaxRateReconciliationBeatAmount
0 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Beat Amount
EffectiveIncomeTaxRateReconciliationBeatAmount
0 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.14
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.07
CY2024Q3 lbuy Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 Minimum
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1Minimum
P2Y
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
2.27 pure
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
2.54 pure
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.0044 pure
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0054 pure
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
23873 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
86487 usd
CY2024Q3 lbuy Related Party Transaction Amounts Of Transaction Interest Expense
RelatedPartyTransactionAmountsOfTransactionInterestExpense
2613 usd
CY2023Q3 lbuy Related Party Transaction Amounts Of Transaction Interest Expense
RelatedPartyTransactionAmountsOfTransactionInterestExpense
1908 usd
CY2024Q3 lbuy Lessee Operating Lease Term Period
LesseeOperatingLeaseTermPeriod
P12M
CY2024Q3 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company will recognize lease expenses on a monthly basis through the life of this lease of approximately $41,000

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