2024 Q2 Form 10-K Financial Statement

#000149315224025788 Filed on July 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2024
Revenue $5.260K $9.539K
YoY Change -47.55%
Cost Of Revenue $3.770K $7.494K
YoY Change -6.58%
Gross Profit $1.490K $2.045K
YoY Change -79.88%
Gross Profit Margin 28.33% 21.44%
Selling, General & Admin $10.28K $43.16K
YoY Change -9.86%
% of Gross Profit 689.93% 2110.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $48.85K $10.28K $43.16K
YoY Change 190.78% -9.84%
Operating Profit -$48.85K -$8.790K -$41.12K
YoY Change 190.78% 9.04%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $23.00 $10.00 $27.98K
YoY Change 15.0% 64974.42%
Pretax Income $19.21K -$13.14K
YoY Change -65.12%
Income Tax $58.00
% Of Pretax Income
Net Earnings -$48.83K $19.21K -$13.14K
YoY Change 190.99% -65.12%
Net Earnings / Revenue 365.21% -137.72%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 30.00M shares 30.00M shares 30.00M shares
Diluted Shares Outstanding 30.00M shares 30.00M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $8.760K $8.760K
YoY Change 8.01%
Cash & Equivalents $8.761K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.761K $8.760K
YoY Change -43.84% -43.85%
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 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $8.761K $8.760K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $8.761K $8.760K
YoY Change -43.84% -43.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $1.970K $1.970K
YoY Change 392.5%
Deferred Revenue
YoY Change
Short-Term Debt $43.83K $104.2K $104.2K
YoY Change 4.76%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.83K $106.2K $106.2K
YoY Change -60.66% 6.31% 6.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $43.83K $106.2K $106.2K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $43.83K $106.2K $106.2K
YoY Change -60.66% 6.31% 6.31%
SHAREHOLDERS EQUITY
Retained Earnings -$501.9K -$453.1K
YoY Change 9.89% 2.99%
Common Stock $30.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$43.83K -$97.39K -$97.39K
YoY Change
Total Liabilities & Shareholders Equity $8.761K $8.760K
YoY Change -43.84% -43.85%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$48.83K $19.21K -$13.14K
YoY Change 190.99% -65.12%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$50.79K -$4.650K -$32.08K
YoY Change 320.55% -11.86%
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 $42.03K 10.39K $32.73K
YoY Change 513.8% 78.31%
NET CHANGE
Cash From Operating Activities -$50.79K -4.650K -$32.08K
Cash From Investing Activities
Cash From Financing Activities $42.03K 10.39K $32.73K
Net Change In Cash -$8.761K 5.740K $656.00
YoY Change 67.51% -103.64%
FREE CASH FLOW
Cash From Operating Activities -$50.79K -$4.650K -$32.08K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84D_eus-gaap--UseOfEstimates_z2FC0gIq8UEl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zqjh1t4ugi81">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 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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