$LGIQ
LOGIQ, INC.

2024 Q3 Form 10-Q Financial Statement

#000157587224001032 Filed on September 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00
YoY Change -100.0%
Cost Of Revenue $0.00
YoY Change -100.0%
Gross Profit $0.00
YoY Change -100.0%
Gross Profit Margin
Selling, General & Admin $215.5K
YoY Change -94.06%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $215.5K
YoY Change -94.68%
Operating Profit -$215.5K
YoY Change -93.88%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$215.5K
YoY Change -93.96%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$215.5K
YoY Change -93.96%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 279.4M 219.8M
Diluted Shares Outstanding 143.9M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.590K
YoY Change -98.04%
Cash & Equivalents $9.587K
Short-Term Investments
Other Short-Term Assets $146.8K
YoY Change -48.0%
Inventory
Prepaid Expenses $146.8K
Receivables
Other Receivables $449.4K
Total Short-Term Assets $605.8K
YoY Change -71.05%
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 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $605.8K
Total Long-Term Assets $0.00
Total Assets $605.8K
YoY Change -95.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $741.3K
YoY Change -76.43%
Accrued Expenses $47.00K
YoY Change -97.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $788.3K
YoY Change -85.4%
LONG-TERM LIABILITIES
Long-Term Debt $10.00K
YoY Change 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $10.00K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $788.3K
Total Long-Term Liabilities $10.00K
Total Liabilities $798.3K
YoY Change -85.24%
SHAREHOLDERS EQUITY
Retained Earnings -$132.7M
YoY Change -10.0%
Common Stock $27.80K
YoY Change 189.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$192.6K
YoY Change
Total Liabilities & Shareholders Equity $605.8K
YoY Change -95.68%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$215.5K
YoY Change -93.96%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$595.4K
YoY Change -81.42%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $21.00K
YoY Change -81.49%
Cash From Investing Activities $21.00K
YoY Change -81.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 533.1K
YoY Change -81.16%
NET CHANGE
Cash From Operating Activities -595.4K
Cash From Investing Activities 21.00K
Cash From Financing Activities 533.1K
Net Change In Cash -41.33K
YoY Change -84.22%
FREE CASH FLOW
Cash From Operating Activities -$595.4K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CurrentFiscalYearEndDate
--12-31
dei Amendment Flag
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dei Entity Central Index Key
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dei Document Fiscal Period Focus
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dei Document Type
DocumentType
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dei Document Quarterly Report
DocumentQuarterlyReport
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dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
000-51815
dei Entity Registrant Name
EntityRegistrantName
LOGIQ, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-5057897
dei Entity Address Address Line1
EntityAddressAddressLine1
230 Victoria Street Bugis Junction
dei Entity Address Address Line2
EntityAddressAddressLine2
#15-01/08
dei Entity Address City Or Town
EntityAddressCityOrTown
Singapore
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SG
dei Entity Address Postal Zip Code
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188024
dei City Area Code
CityAreaCode
65
dei Local Phone Number
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9366 2322
dei Entity Current Reporting Status
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CY2021Q4 lgiq App Logiq Spinoff Description
AppLogiqSpinoffDescription
GoLogiq is a fully reporting U.S. public company. In connection with the Separation, the Company announced that it intended to distribute, on a pro rata basis, 100%
CY2022Q1 lgiq App Logiq Spinoff Description
AppLogiqSpinoffDescription
The Company held the GoLogiq Shares until it distributed 100% of the GoLogiq Shares to the Company’s stockholders of record as of December 30, 2021 on a 1-for-1 basis (i.e. for every 1 share of Logiq held on December 30, 2021, the holder thereof will receive 1 share of Lovarra)
lgiq Data Logiq Spinoff Description
DataLogiqSpinoffDescription
At Closing Abri will deliver to the Company $114 million worth of shares Abri common stock, par value $0.0001, at $10.00 per share (the “Merger Consideration Shares”). Also at Closing, the Company will issue a dividend to its shareholders on a pro-rata basis equal to 25% of the aggregate Merger Consideration Shares (the “Dividend Shares”), payable to the Company shareholders of record as of a record date to be set shortly before Closing.
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<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;">USE OF ESTIMATES</div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt; background: none;"><div style="white-space: pre-wrap; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;">The preparation of the Company’s financial statements in conformity with generally accepted accounting principles of the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates.</div></div>
lgiq Operating Segments
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;">ACCOUNTS RECEIVABLE AND CONCENTRATION OF RISK</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt; background: none;"><div style="white-space: pre-wrap; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; line-height: 12pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;display:inline;">Accounts receivable consists of trade receivables from customers. The Company records accounts receivable at its net realizable value, recognizing an allowance for doubtful accounts based on our best estimate of probable credit losses on our existing accounts receivable. Balances are written off against the allowance after all means of collection have been exhausted and the possibility of recovery is considered remote.</div></div>
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
146774
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
152000
CY2024Q2 lgiq Prepayments Deposits And Other Receivables
PrepaymentsDepositsAndOtherReceivables
146774
CY2023Q4 lgiq Prepayments Deposits And Other Receivables
PrepaymentsDepositsAndOtherReceivables
152000
CY2024Q2 lgiq Loans And Notes Receivable From Related Parties Current
LoansAndNotesReceivableFromRelatedPartiesCurrent
449421
CY2023Q4 lgiq Loans And Notes Receivable From Related Parties Current
LoansAndNotesReceivableFromRelatedPartiesCurrent
482420
CY2024Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
449421
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
482420
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
47000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
50000
CY2024Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
47000
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
50000
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.21
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
lgiq Certificate Of Amendment Description
CertificateOfAmendmentDescription
Upon the filing of the Certificate of Amendment, and the resulting effectiveness of the Reverse Stock Split, every 13 outstanding shares of the Company’s Common Stock were, without any further action by the Company, or any holder thereof, combined into and automatically became 1 share of the Company’s Common Stock.
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
0
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-215463
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3565215
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-880492
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16013715
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
lgiq Revenues Percentage
RevenuesPercentage
0.10
lgiq Revenues Percentage
RevenuesPercentage
0.10
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
0
CY2024Q2 lgiq Revenue Remaining Performance Of Obligation Percentage
RevenueRemainingPerformanceOfObligationPercentage
0
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4860561
CY2023Q2 lgiq Revenue Remaining Performance Of Obligation Percentage
RevenueRemainingPerformanceOfObligationPercentage
1
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
0
lgiq Revenue Remaining Performance Of Obligation Percentage
RevenueRemainingPerformanceOfObligationPercentage
0
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8398088
lgiq Revenue Remaining Performance Of Obligation Percentage
RevenueRemainingPerformanceOfObligationPercentage
1

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