$LTES
Leet Technology Inc

2015 Q2 Form 10-Q Financial Statement

#000143774915010260 Filed on May 15, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $45.13K $12.50K
YoY Change 42.16%
% of Gross Profit
Depreciation & Amortization $120.00
YoY Change
% of Gross Profit
Operating Expenses $138.0K $109.0K
YoY Change 190.02% 87.1%
Operating Profit -$138.0K -$109.0K
YoY Change 190.02% 87.1%
Interest Expense $3.001K $3.043K
YoY Change -2.47% 204.91%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$141.0K -$112.0K
YoY Change 178.33% 89.08%
Income Tax $800.00
% Of Pretax Income
Net Earnings -$141.8K -$112.0K
YoY Change 175.55% 89.08%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 14.90M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $173.8K $272.7K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $76.25K $173.8K $272.7K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.558K $4.678K $2.400K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.71K $10.90K $2.400K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $76.25K $173.8K $272.7K
Total Long-Term Assets $11.71K $10.90K $2.400K
Total Assets $87.96K $184.7K $275.1K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.235K $0.00
YoY Change
Accrued Expenses $17.25K $17.25K $24.40K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $77.83K $82.96K $84.81K
YoY Change
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 $77.83K $82.96K $84.81K
Total Long-Term Liabilities
Total Liabilities $175.3K $184.2K $193.6K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $392.2K $1.490K $307.2K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$87.34K $482.00 $81.49K
YoY Change
Total Liabilities & Shareholders Equity $87.96K $184.7K $275.1K
YoY Change

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q4
OPERATING ACTIVITIES
Net Income -$141.8K -$112.0K
YoY Change 175.55% 89.08%
Depreciation, Depletion And Amortization $120.00
YoY Change
Cash From Operating Activities -$127.5K
YoY Change 12.08%
INVESTING ACTIVITIES
Capital Expenditures $2.398K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.398K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.00K
YoY Change -80.11%
NET CHANGE
Cash From Operating Activities -127.5K
Cash From Investing Activities -2.398K
Cash From Financing Activities 31.00K
Net Change In Cash -98.91K
YoY Change -335.17%
FREE CASH FLOW
Cash From Operating Activities -$127.5K
Capital Expenditures $2.398K
Free Cash Flow -$129.9K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q1 bdic Common Stock Issued For Services Noncash
CommonStockIssuedForServicesNoncash
970
CY2014Q4 bdic Common Stock Value Issued For Subscriptionreceivable
CommonStockValueIssuedForSubscriptionreceivable
230456
CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14896000
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14852500
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001586495
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
14896000
CY2015Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2015Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14896000
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14852500
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
Blow & Drive Interlock Corp
CY2015Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015Q1 us-gaap Common Stock Value
CommonStockValue
1490
CY2015Q1 bdic Lease And Rental Expense Per Month
LeaseAndRentalExpensePerMonth
1450
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 bdic Interest Payable Related Parties Current
InterestPayableRelatedPartiesCurrent
2840
CY2014Q4 bdic Interest Payable Related Parties Current
InterestPayableRelatedPartiesCurrent
9412
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17250
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
24400
CY2015Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
336666
CY2014Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
305671
CY2014 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
75000
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2015Q1 us-gaap Assets
Assets
184689
CY2014Q4 us-gaap Assets
Assets
275092
CY2015Q1 us-gaap Assets Current
AssetsCurrent
173786
CY2014Q4 us-gaap Assets Current
AssetsCurrent
272692
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
272692
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2000
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
173786
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44057
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-98906
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
42057
CY2015Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.0001
CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q1 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
52176
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
1485
CY2015Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Concentration of Risk</div></div></div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. From time to time, the Company maintains cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit</div></div></div></div></div></div>
CY2015Q1 us-gaap Deposit Assets
DepositAssets
6225
CY2015Q1 us-gaap Depreciation
Depreciation
120
CY2015Q1 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
337674
CY2014Q4 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
225669
CY2015Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
56549
CY2014Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
48994
CY2015Q1 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
101244
CY2014Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
108799
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0
CY2015Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4324
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19424
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
49445
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-112005
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-59236
CY2014Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
2207
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12500
CY2015Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-6225
CY2014Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-48000
CY2015Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
4324
CY2015Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-6572
CY2015Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-7150
CY2014Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
7500
CY2015Q1 us-gaap Interest Expense
InterestExpense
3043
CY2014Q1 us-gaap Interest Expense
InterestExpense
998
CY2015Q1 us-gaap Interest Paid
InterestPaid
9412
CY2015Q1 us-gaap Liabilities
Liabilities
184207
CY2014Q4 us-gaap Liabilities
Liabilities
193605
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
184689
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
275092
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
82963
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
84806
CY2015Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31000
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
155823
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2398
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-127508
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-113766
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-112005
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-59236
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-223769
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
108962
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
58238
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-108962
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-58238
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2398
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2014 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
235000
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
31000
CY2014 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
230000
CY2015Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
31000
CY2014Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
160000
CY2015Q1 us-gaap Professional Fees
ProfessionalFees
24862
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4678
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2400
CY2015Q1 us-gaap Revenues
Revenues
0
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8793
CY2014Q1 us-gaap Stock Issued1
StockIssued1
457
CY2015Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
43500
CY2015Q1 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
31000
CY2014Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
-970
CY2014 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
970
CY2014Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
-1970
CY2014 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1970
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
800
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
81487
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
482
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
2000
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2000
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div></div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of financial statements in conformity with GAAP 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 periods. Actual results could differ from those estimates.</div></div></div></div></div></div>
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14887089
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13976333

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