$LTES
Leet Technology Inc

2024 Q3 Form 10-Q Financial Statement

#000168316824005820 Filed on August 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $158.7K $347.7K
YoY Change 362.92% 262.62%
Cost Of Revenue $117.9K $158.5K
YoY Change -24.09% 1.11%
Gross Profit $40.83K $189.1K
YoY Change -133.74% -410.36%
Gross Profit Margin 25.72% 54.4%
Selling, General & Admin $78.21K
YoY Change -71.83%
% of Gross Profit 41.36%
Research & Development $9.173K $8.972K
YoY Change 2.47% 0.17%
% of Gross Profit 22.47% 4.74%
Depreciation & Amortization $2.764K $2.610K
YoY Change -1.29% -3.69%
% of Gross Profit 6.77% 1.38%
Operating Expenses $90.21K $87.18K
YoY Change -55.61% -69.58%
Operating Profit -$49.38K $101.9K
YoY Change -84.77% -129.33%
Interest Expense $3.760K
YoY Change 171.28%
% of Operating Profit 3.69%
Other Income/Expense, Net $8.868K $111.5K
YoY Change -47.43% 204.04%
Pretax Income -$40.51K $213.4K
YoY Change -86.82% -168.65%
Income Tax $21.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$40.01K $214.2K
YoY Change -86.99% -168.96%
Net Earnings / Revenue -25.21% 61.61%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 151.1M shares 151.1M shares
Diluted Shares Outstanding 151.1M shares 151.1M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.45K
YoY Change -75.33%
Cash & Equivalents $13.80K $15.45K
Short-Term Investments
Other Short-Term Assets $34.43K
YoY Change 165.87%
Inventory
Prepaid Expenses
Receivables $321.6K $31.24K
Other Receivables $0.00
Total Short-Term Assets $370.4K $229.9K
YoY Change 441.61% 121.6%
LONG-TERM ASSETS
Property, Plant & Equipment $84.67K $76.52K
YoY Change -22.73% -32.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $84.67K $76.52K
YoY Change -22.73% -33.88%
TOTAL ASSETS
Total Short-Term Assets $370.4K $229.9K
Total Long-Term Assets $84.67K $76.52K
Total Assets $455.1K $306.4K
YoY Change 155.7% 39.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.31K $58.22K
YoY Change -87.08% -88.07%
Accrued Expenses $696.1K $623.1K
YoY Change 247.51% 112.0%
Deferred Revenue $0.00 $13.95K
YoY Change -100.0% -95.11%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.716M $4.046M
YoY Change 27.14% 14.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.716M $4.046M
Total Long-Term Liabilities $0.00
Total Liabilities $4.716M $4.046M
YoY Change 27.14% 14.4%
SHAREHOLDERS EQUITY
Retained Earnings -$12.56M -$12.43M
YoY Change 4.82% 7.29%
Common Stock $15.11K $15.11K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.19M -$9.580M
YoY Change
Total Liabilities & Shareholders Equity $455.1K $306.4K
YoY Change 155.7% 39.61%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$40.01K $214.2K
YoY Change -86.99% -168.96%
Depreciation, Depletion And Amortization $2.764K $2.610K
YoY Change -1.29% -3.69%
Cash From Operating Activities -$151.5K
YoY Change -54.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 122.6K
YoY Change -66.88%
NET CHANGE
Cash From Operating Activities -151.5K
Cash From Investing Activities 0.000
Cash From Financing Activities 122.6K
Net Change In Cash -28.97K
YoY Change -173.79%
FREE CASH FLOW
Cash From Operating Activities -$151.5K
Capital Expenditures $0.00
Free Cash Flow -$151.5K
YoY Change -54.19%

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AllowanceForDoubtfulAccountsReceivableWriteOffs
32783 usd
LTES Loss On Early Redemption Of Convertible Promissory Note
LossOnEarlyRedemptionOfConvertiblePromissoryNote
0 usd
LTES Loss On Early Redemption Of Convertible Promissory Note
LossOnEarlyRedemptionOfConvertiblePromissoryNote
28340 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19864 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-92307 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-148500 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
19749 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
1981 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-587 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-13028 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-97544 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-95222 usd
LTES Increase Decrease In Accrued Compensation Payable To Officers And Directors
IncreaseDecreaseInAccruedCompensationPayableToOfficersAndDirectors
0 usd
LTES Increase Decrease In Accrued Compensation Payable To Officers And Directors
IncreaseDecreaseInAccruedCompensationPayableToOfficersAndDirectors
10867 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-291017 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
31162 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-481715 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-725161 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1998 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1998 usd
LTES Proceeds From Repayments Of Director
ProceedsFromRepaymentsOfDirector
6352 usd
LTES Proceeds From Repayments Of Director
ProceedsFromRepaymentsOfDirector
841 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
463746 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
940716 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
-0 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
134921 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
470098 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
806636 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10488 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-53663 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1131 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25814 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16580 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36808 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15449 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62622 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15449 usd
CY2024Q2 LTES Working Capital Deficit
WorkingCapitalDeficit
-3816176 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-12429109 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zZBHOMUF23C4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_86D_zhivs6pzPbZh">Use of estimates and assumptions</span></i></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 unaudited condensed consolidated financial statements, management makes 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 during the period reported. Actual results may differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024Q2 us-gaap Revenues
Revenues
347665 usd
CY2023Q2 us-gaap Revenues
Revenues
95876 usd
us-gaap Revenues
Revenues
544318 usd
us-gaap Revenues
Revenues
145136 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
160041 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
164311 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
83519 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
80379 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
76522 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
83932 usd
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2607 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3105 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5219 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5717 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
151096262 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
151096262 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
151096262 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
151096262 shares
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
214191 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-310581 usd
us-gaap Net Income Loss
NetIncomeLoss
93864 usd
us-gaap Net Income Loss
NetIncomeLoss
-817374 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151096262 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151096262 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152060286 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152060286 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151096262 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151096262 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152060286 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152060286 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 LTES Due To Related Party Current And Noncurrent
DueToRelatedPartyCurrentAndNoncurrent
3042540 usd
CY2023Q4 LTES Due To Related Party Current And Noncurrent
DueToRelatedPartyCurrentAndNoncurrent
2629435 usd
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
6352 usd
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
48134 usd
CY2023Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
3152 usd
us-gaap Revenues
Revenues
544318 usd
us-gaap Cost Of Revenue
CostOfRevenue
315535 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5219 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
90327 usd
LTES Total Assets
TotalAssets
306395 usd
us-gaap Revenues
Revenues
145136 usd
us-gaap Cost Of Revenue
CostOfRevenue
301896 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5717 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-821652 usd
LTES Total Assets
TotalAssets
219463 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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