2023 Q1 Form 10-K Financial Statement

#000149315223022913 Filed on June 29, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2023 2022
Revenue $18.19K $10.00K
YoY Change 81.88%
Cost Of Revenue $8.022K $10.00K
YoY Change -19.78%
Gross Profit $10.17K $0.00
YoY Change
Gross Profit Margin 55.89% 0.0%
Selling, General & Admin $47.88K $50.00K
YoY Change -4.24% -28.57%
% of Gross Profit 470.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0%
% of Gross Profit 0.0%
Operating Expenses $47.88K $50.00K
YoY Change -4.25% -28.57%
Operating Profit -$37.71K -$50.00K
YoY Change -24.58% -28.57%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $43.00 $0.00
YoY Change
Pretax Income -$37.67K -$40.00K
YoY Change -5.83% -80.95%
Income Tax
% Of Pretax Income
Net Earnings -$37.67K -$40.00K
YoY Change -5.83% -80.95%
Net Earnings / Revenue -207.1% -400.0%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 -$1.333K
COMMON SHARES
Basic Shares Outstanding 30.00M shares 30.00M shares 30.00M shares
Diluted Shares Outstanding 30.00M shares

Balance Sheet

Concept 2023 Q1 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.110K $30.00K
YoY Change -72.97% 200.0%
Cash & Equivalents $8.105K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $7.494K $7.490K $0.00
Prepaid Expenses
Receivables $0.00 $10.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.60K $15.60K $40.00K
YoY Change -55.75% -61.0% -33.33%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $15.60K $15.60K $40.00K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $15.60K $15.60K $40.00K
YoY Change -55.75% -61.0% -33.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $400.00 $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $99.46K $80.00K
YoY Change 24.33% 14.29%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $99.85K $99.85K $80.00K
YoY Change 22.01% 24.81% 14.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $99.85K $99.85K $80.00K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $99.85K $99.85K $80.00K
YoY Change 22.01% 24.81% 14.29%
SHAREHOLDERS EQUITY
Retained Earnings -$439.9K
YoY Change 9.36%
Common Stock $30.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$84.26K -$84.26K -$50.00K
YoY Change
Total Liabilities & Shareholders Equity $15.60K $15.60K $40.00K
YoY Change -55.75% -61.0% -33.33%

Cashflow Statement

Concept 2023 Q1 2023 2022
OPERATING ACTIVITIES
Net Income -$37.67K -$40.00K
YoY Change -5.83% -80.95%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$36.39K -$40.00K
YoY Change -9.02% -33.33%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $50.00K
YoY Change -100.0% 150.0%
Cash From Investing Activities $50.00K
YoY Change 150.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $18.36K 10.00K
YoY Change 83.56% -66.67%
NET CHANGE
Cash From Operating Activities -$36.39K -40.00K
Cash From Investing Activities 50.00K
Cash From Financing Activities $18.36K 10.00K
Net Change In Cash -$18.04K 20.00K
YoY Change -190.18% -300.0%
FREE CASH FLOW
Cash From Operating Activities -$36.39K -$40.00K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_843_eus-gaap--UseOfEstimates_z7EhVt6y87Fa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zJppuNHUeyO6">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts and timing of revenues and expenses, the reported amounts and classification of assets and liabilities, and the disclosure of contingent assets and liabilities. Significant areas requiring the use of estimates are assessing the allowance of doubtful account, inventory write-down, impairment of long-lived assets and recoverability of deferred tax assets. These estimates and assumptions are based on the Company’s historical results as well as management’s future expectations. The Company’s actual results may vary from those estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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