2023 Q3 Form 10-Q Financial Statement
#000168316823005789 Filed on August 15, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
Cost Of Revenue | $0.00 | $0.00 |
YoY Change | -100.0% | |
Gross Profit | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
Gross Profit Margin | ||
Selling, General & Admin | $210.8K | $3.330K |
YoY Change | 54.67% | -96.41% |
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
% of Gross Profit | ||
Operating Expenses | $210.8K | $3.330K |
YoY Change | 54.67% | -96.41% |
Operating Profit | -$210.8K | -$3.330K |
YoY Change | 71.53% | -95.83% |
Interest Expense | $6.657K | |
YoY Change | 166325.0% | |
% of Operating Profit | ||
Other Income/Expense, Net | -$6.651K | $0.00 |
YoY Change | -183.72% | -100.0% |
Pretax Income | -$217.4K | -$3.325K |
YoY Change | 89.17% | -92.86% |
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | ||
Net Earnings | -$217.4K | -$3.325K |
YoY Change | 89.17% | -92.86% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | $0.00 | $0.00 |
Diluted Earnings Per Share | $0.00 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 28.21M shares | 28.21M shares |
Diluted Shares Outstanding | 465.5M shares | 28.21M shares |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $232.2K | |
YoY Change | 7691.95% | |
Cash & Equivalents | $232.2K | $0.00 |
Short-Term Investments | ||
Other Short-Term Assets | $64.10K | |
YoY Change | -95.67% | |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $296.3K | $0.00 |
YoY Change | -80.46% | -100.0% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | $806.2K | |
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $6.806M | $0.00 |
YoY Change | 4535.68% | -100.0% |
TOTAL ASSETS | ||
Total Short-Term Assets | $296.3K | $0.00 |
Total Long-Term Assets | $6.806M | $0.00 |
Total Assets | $7.102M | $0.00 |
YoY Change | 327.07% | -100.0% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $72.52K | |
YoY Change | -39.19% | |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | |
YoY Change | ||
Long-Term Debt Due | $78.93K | |
YoY Change | ||
Total Short-Term Liabilities | $151.5K | $81.50K |
YoY Change | -83.95% | -91.51% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $1.023M | |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $1.023M | |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $151.5K | $81.50K |
Total Long-Term Liabilities | $1.023M | |
Total Liabilities | $1.174M | $81.50K |
YoY Change | 24.39% | -91.51% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$14.26M | -$1.117M |
YoY Change | 4620.89% | 496.66% |
Common Stock | $49.61K | $2.821K |
YoY Change | 1658.49% | 0.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $5.928M | -$81.50K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $7.102M | $0.00 |
YoY Change | 327.07% | -100.0% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$217.4K | -$3.325K |
YoY Change | 89.17% | -92.86% |
Depreciation, Depletion And Amortization | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
Cash From Operating Activities | -$72.46K | -$2.820K |
YoY Change | 35.21% | -133.33% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $0.00 | |
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $2.820K | |
YoY Change | ||
Cash From Investing Activities | -$2.820K | $2.820K |
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 | 295.4K | |
YoY Change | 2597.99% | |
NET CHANGE | ||
Cash From Operating Activities | -72.46K | -2.820K |
Cash From Investing Activities | -2.820K | 2.820K |
Cash From Financing Activities | 295.4K | |
Net Change In Cash | 220.2K | 0.000 |
YoY Change | -616.3% | -100.0% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$72.46K | -$2.820K |
Capital Expenditures | $0.00 | |
Free Cash Flow | -$72.46K | |
YoY Change |
Facts In Submission
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<p id="xdx_845_eus-gaap--UseOfEstimates_zXIWHdnlIvve" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 29.4pt; text-align: justify; text-indent: -30.1pt"><span style="font-family: Wingdings">l</span> <span id="xdx_86A_zvRo4JeBjBll">Use of estimates and assumptions</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In preparing these condensed financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
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5 years | ||
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RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
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<p id="xdx_848_eus-gaap--RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure_zklQROmn4vjj" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><span style="font-family: Wingdings">l</span> <span id="xdx_86D_zjWMKGC3krfh">Revenue recognition</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company adopted Accounting Standards Codification (“ASC<i>”) 606 – Revenue from Contracts with Customers</i>” (“ASC 606”). Under ASC 606, a performance obligation is a promise within a contract to transfer a distinct good or service, or a series of distinct goods and services, to a customer. Revenue is recognized when performance obligations are satisfied and the customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for goods or services. Under the standard, a contract’s transaction price is allocated to each distinct performance obligation. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify"> </td> <td style="width: 24px; text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-size: 10pt">identify the contract with a customer;</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-size: 10pt">identify the performance obligations in the contract;</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-size: 10pt">determine the transaction price;</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-size: 10pt">allocate the transaction price to performance obligations in the contract; and</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-size: 10pt">recognize revenue as the performance obligation is satisfied.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> | ||
CY2023Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2023Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
28210000 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
28210000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
28210000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
28210000 | shares |
CY2023Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
2500000 | shares |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
2500000 | shares |