$LTUM
Lithium Corp

2022 Q3 Form 10-Q Financial Statement

#000164033422001830 Filed on August 19, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $81.63K $805.8K $58.27K
YoY Change 52.18% 1558.67% 93.46%
% of Gross Profit
Research & Development $13.31K $65.43K $1.240K
YoY Change 37.36% 675.24%
% of Gross Profit
Depreciation & Amortization $1.833K $1.833K
YoY Change
% of Gross Profit
Operating Expenses $96.78K $873.0K $59.51K
YoY Change 52.82% 1431.24% 84.07%
Operating Profit -$96.78K -$873.0K
YoY Change 52.82% 1431.24%
Interest Expense -$7.380K -$400.6K -$987.5K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$7.382K -$381.1K $50.00K
YoY Change -205.46% -1565.79%
Pretax Income -$104.2K -$1.254M -$997.0K
YoY Change 84.92% 3943.57% 2983.82%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$104.2K -$1.254M -$997.0K
YoY Change 84.92% 3943.57% 2983.82%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$956.40 -$11.85K -$9.673K
COMMON SHARES
Basic Shares Outstanding 109.1M shares 105.7M shares 102.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.009M $3.199M $2.637M
YoY Change 106.27% 227.09% 1279.52%
Cash & Equivalents $3.425M $2.861M $2.243M
Short-Term Investments $584.5K $338.5K $393.5K
Other Short-Term Assets $31.67K $17.42K $21.80K
YoY Change 505.54% 134.45% 53.2%
Inventory
Prepaid Expenses $31.67K $17.42K $21.80K
Receivables
Other Receivables
Total Short-Term Assets $4.042M $3.217M $2.659M
YoY Change 107.3% 226.46% 1190.51%
LONG-TERM ASSETS
Property, Plant & Equipment $30.15K $31.98K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $30.15K $31.98K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $4.042M $3.217M $2.659M
Total Long-Term Assets $30.15K $31.98K $0.00
Total Assets $4.072M $3.249M $2.659M
YoY Change 108.85% 229.71% 1190.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.39K $32.01K $20.96K
YoY Change 27.54% 50.35%
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 $2.033M $1.678M $1.602M
YoY Change 1045.59% 2253.64% 10712.14%
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 $2.033M $1.678M $1.602M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.033M $1.678M $1.602M
YoY Change 1045.59% 2253.64% 10712.14%
SHAREHOLDERS EQUITY
Retained Earnings -$7.596M -$7.492M -$6.533M
YoY Change 37.22% 36.73% 36.46%
Common Stock $110.7K $107.1K $103.5K
YoY Change 8.0% 7.56% 8.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.039M $1.571M $1.057M
YoY Change
Total Liabilities & Shareholders Equity $4.072M $3.249M $2.659M
YoY Change 108.85% 229.71% 1190.51%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$104.2K -$1.254M -$997.0K
YoY Change 84.92% 3943.57% 2983.82%
Depreciation, Depletion And Amortization $1.833K $1.833K
YoY Change
Cash From Operating Activities -$107.8K -$137.6K -$31.30K
YoY Change 118.97% 297.89% 2.05%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $100.0K $65.00K $100.0K
YoY Change 100.0% 30.0%
Cash From Investing Activities $100.0K $65.00K $100.0K
YoY Change 100.0% 30.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 571.6K 443.2K 282.0K
YoY Change -37.48% -37.38%
NET CHANGE
Cash From Operating Activities -107.8K -137.6K -31.30K
Cash From Investing Activities 100.0K 65.00K 100.0K
Cash From Financing Activities 571.6K 443.2K 282.0K
Net Change In Cash 563.8K 370.6K 350.7K
YoY Change -38.38% -48.76% -1243.46%
FREE CASH FLOW
Cash From Operating Activities -$107.8K -$137.6K -$31.30K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$107.8K -$137.6K
YoY Change

Facts In Submission

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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;font-family:times new roman;margin:0px">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>
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
CY2022Q2 us-gaap Depreciation
Depreciation
1833 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;font-family:times new roman;margin:0px">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>
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
21804 usd
CY2022Q2 us-gaap Capital
Capital
1539514 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-121491 usd
us-gaap Depreciation
Depreciation
3666 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
0 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4800 usd
CY2022Q2 ltum Prepaid Transfer Fees Current
PrepaidTransferFeesCurrent
17419 usd
CY2021Q4 ltum Prepaid Transfer Fees Current
PrepaidTransferFeesCurrent
17004 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
17419 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
0 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
31984 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3666 usd
CY2021 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6465018 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3450000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.22
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
us-gaap Share Based Compensation
ShareBasedCompensation
696397 usd
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
1600000 shares
CY2022Q2 ltum Stock Option Issuance Date
StockOptionIssuanceDate
2022-05-26
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3450000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.22
CY2022Q2 ltum Stock Option Expire Date
StockOptionExpireDate
2027-05-26
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3450000 shares
CY2022Q2 ltum Amount Paid On Signing Loi
AmountPaidOnSigningLoi
150000 usd
us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
28176951 shares
CY2022Q2 ltum Consulting Fees Related Party1
ConsultingFeesRelatedParty1
90000 usd
ltum Consulting Fees Related Party1
ConsultingFeesRelatedParty1
45000 usd
CY2021Q2 ltum Consulting Fees Related Party1
ConsultingFeesRelatedParty1
60000 usd
ltum Consulting Fees Related Party1
ConsultingFeesRelatedParty1
30000 usd
CY2022Q2 ltum Rent Fees
RentFees
1500 usd
ltum Rent Fees
RentFees
3000 usd
CY2021Q2 ltum Rent Fees
RentFees
3000 usd
ltum Rent Fees
RentFees
1500 usd
CY2022Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
3078 usd
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
9297 usd
CY2021Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
5255 usd
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
5255 usd
CY2022Q2 us-gaap Due From Related Parties
DueFromRelatedParties
16798 usd
CY2021Q4 us-gaap Due From Related Parties
DueFromRelatedParties
2251 usd
CY2022Q2 ltum Stock Option Issued
StockOptionIssued
1600000 shares
CY2022Q2 ltum Fair Value Of Stock Option
FairValueOfStockOption
322967 usd
CY2021Q3 ltum Monthly Rental
MonthlyRental
500 usd

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0001640334-22-001830-index.html Edgar Link pending
0001640334-22-001830.txt Edgar Link pending
0001640334-22-001830-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
ltum-20220630.xsd Edgar Link pending
ltum_10q.htm Edgar Link pending
ltum_ex311.htm Edgar Link pending
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