$LTUM
Lithium Corp

2022 Q2 Form 10-Q Financial Statement

#000164033422001013 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $805.8K $73.81K $649.3K
YoY Change 1558.67% -88.63% 1337.46%
% of Gross Profit
Research & Development $65.43K $15.09K $26.63K
YoY Change 675.24% -43.33%
% of Gross Profit
Depreciation & Amortization $1.833K $1.833K $0.00
YoY Change
% of Gross Profit
Operating Expenses $873.0K $90.73K $675.9K
YoY Change 1431.24% -86.58% 1396.42%
Operating Profit -$873.0K -$90.73K -$675.9K
YoY Change 1431.24% -86.58%
Interest Expense -$400.6K $345.6K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$381.1K $385.6K $15.00K
YoY Change -1565.79% 2470.67%
Pretax Income -$1.254M $294.9K -$660.9K
YoY Change 3943.57% -144.61% 1363.22%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$1.254M $294.9K -$660.9K
YoY Change 3943.57% -144.61% 1363.22%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$11.85K $2.832K -$6.830K
COMMON SHARES
Basic Shares Outstanding 105.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.199M $3.230M $254.9K
YoY Change 227.09% 1167.1% -14.66%
Cash & Equivalents $2.861M $2.490M $254.2K
Short-Term Investments $338.5K $739.8K $700.00
Other Short-Term Assets $17.42K $23.38K $12.80K
YoY Change 134.45% 82.66% -34.36%
Inventory
Prepaid Expenses $17.42K $23.38K
Receivables
Other Receivables
Total Short-Term Assets $3.217M $3.253M $267.7K
YoY Change 226.46% 1115.24% -15.87%
LONG-TERM ASSETS
Property, Plant & Equipment $31.98K $33.82K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $31.98K $33.82K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.217M $3.253M $267.7K
Total Long-Term Assets $31.98K $33.82K $0.00
Total Assets $3.249M $3.287M $267.7K
YoY Change 229.71% 1127.88% -15.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.01K $20.24K $30.23K
YoY Change 50.35% -33.05% 135.44%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.678M $1.601M $30.23K
YoY Change 2253.64% 5196.77% 135.44%
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 $1.678M $1.601M $30.23K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.678M $1.601M $30.23K
YoY Change 2253.64% 5196.77% 135.44%
SHAREHOLDERS EQUITY
Retained Earnings -$7.492M -$6.238M
YoY Change 36.73%
Common Stock $107.1K $105.1K
YoY Change 7.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.571M $1.686M $237.5K
YoY Change
Total Liabilities & Shareholders Equity $3.249M $3.287M $267.7K
YoY Change 229.71% 1127.88% -15.87%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.254M $294.9K -$660.9K
YoY Change 3943.57% -144.61% 1363.22%
Depreciation, Depletion And Amortization $1.833K $1.833K $0.00
YoY Change
Cash From Operating Activities -$137.6K -$51.18K -$86.91K
YoY Change 297.89% -41.11% 80.15%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $35.65K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $65.00K
YoY Change 30.0%
Cash From Investing Activities $65.00K -$35.65K $0.00
YoY Change 30.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $334.0K $150.0K
YoY Change 122.67%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 443.2K $334.0K $150.0K
YoY Change -37.38% 122.67%
NET CHANGE
Cash From Operating Activities -137.6K -$51.18K -$86.91K
Cash From Investing Activities 65.00K -$35.65K $0.00
Cash From Financing Activities 443.2K $334.0K $150.0K
Net Change In Cash 370.6K $247.2K $63.09K
YoY Change -48.76% 291.75% -230.79%
FREE CASH FLOW
Cash From Operating Activities -$137.6K -$51.18K -$86.91K
Capital Expenditures $0.00 $35.65K $0.00
Free Cash Flow -$137.6K -$86.83K -$86.91K
YoY Change -0.09%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
105692441 shares
CY2022Q1 ltum Accounts Payable And Accrued Liabilities Due To Related Party
AccountsPayableAndAccruedLiabilitiesDueToRelatedParty
17740 USD
CY2021Q4 ltum Accounts Payable And Accrued Liabilities Due To Related Party
AccountsPayableAndAccruedLiabilitiesDueToRelatedParty
2251 USD
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
103492441 shares
CY2021Q1 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
26632 USD
CY2021Q1 ltum Consulting Fees Related Party
ConsultingFeesRelatedParty
30000 USD
CY2021Q1 ltum Consulting Fees
ConsultingFees
573055 USD
CY2021Q1 ltum Transfer Agent And Filing Fees
TransferAgentAndFilingFees
7781 USD
CY2021Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
42 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2316 USD
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
675935 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-675935 USD
CY2022Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
345600 USD
CY2021Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0 USD
CY2021Q1 us-gaap Other Income
OtherIncome
15000 USD
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
385600 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
294875 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
294875 USD
CY2022Q1 ltum Net Loss Per Share Basic And Diluted
NetLossPerShareBasicAndDiluted
0.00
CY2022Q1 ltum Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
104110219 shares
CY2021 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
557190 USD
CY2021 ltum Shares Issued For Cash Amount
SharesIssuedForCashAmount
2054028 USD
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q1 ltum Shares Issued For Cash Amount
SharesIssuedForCashAmount
334000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
294875 USD
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
1686055 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
294875 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-660935 USD
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
0 USD
CY2021Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
557190 USD
CY2022Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
345600 USD
CY2021Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0 USD
CY2022Q1 us-gaap Depreciation
Depreciation
1833 USD
CY2021Q1 us-gaap Depreciation
Depreciation
0 USD
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1572 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1429 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-713 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15410 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-51177 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-86906 USD
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35650 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35650 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
334000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
150000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
334000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
150000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
247173 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
63094 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2243121 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
191125 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2490294 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
254219 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company maintains its cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. The Company continually monitors its banking relationships and consequently has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.</p>
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-86906 USD
CY2022Q1 ltum Prepaid Transfer Fees Current
PrepaidTransferFeesCurrent
23376 USD
CY2021Q4 ltum Prepaid Transfer Fees Current
PrepaidTransferFeesCurrent
17004 USD
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
23376 USD
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
21804 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1833 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
0 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33817 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 USD
CY2022Q1 us-gaap Depreciation
Depreciation
1833 USD
CY2021 us-gaap Depreciation
Depreciation
0 USD
CY2022Q1 ltum Amount Paid On Signing Loi
AmountPaidOnSigningLoi
150000 USD
CY2022Q1 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
28176951 shares
CY2022Q1 ltum Consulting Fees Related Party
ConsultingFeesRelatedParty
45000 USD
CY2021Q1 ltum Consulting Fees Related Party
ConsultingFeesRelatedParty
30000 USD
CY2022Q1 ltum Rent Fees
RentFees
1500 USD
CY2021Q1 ltum Rent Fees
RentFees
1500 USD
CY2022Q1 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
6219 USD
CY2021Q1 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
26632 USD
CY2022Q1 us-gaap Due From Related Parties
DueFromRelatedParties
17740 USD

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0001640334-22-001013.txt Edgar Link pending
0001640334-22-001013-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
ltum-20220331.xsd Edgar Link pending
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