$MDWK
MDWerks, Inc.

2024 Q2 Form 10-Q Financial Statement

#000149315224032204 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $271.9K $0.00
YoY Change
Cost Of Revenue $343.4K
YoY Change
Gross Profit -$71.51K
YoY Change
Gross Profit Margin -26.3%
Selling, General & Admin $554.9K $64.08K
YoY Change 765.92% 1934.29%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.07K $280.00
YoY Change 21711.07%
% of Gross Profit
Operating Expenses $630.0K $64.08K
YoY Change 883.28% 1932.87%
Operating Profit -$701.6K -$64.08K
YoY Change 994.88% 1932.87%
Interest Expense -$6.760K $5.676K
YoY Change -219.1%
% of Operating Profit
Other Income/Expense, Net -$62.56K -$5.676K
YoY Change 1002.13%
Pretax Income -$764.1K -$69.75K
YoY Change 995.51% 2114.29%
Income Tax
% Of Pretax Income
Net Earnings -$764.1K -$69.75K
YoY Change 995.47% 2112.94%
Net Earnings / Revenue -281.03%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 201.3M shares 124.7M shares
Diluted Shares Outstanding 200.8M shares 123.9M shares

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.65K $4.940K
YoY Change 864.57%
Cash & Equivalents $47.65K $4.938K
Short-Term Investments
Other Short-Term Assets $16.01K
YoY Change
Inventory $152.1K
Prepaid Expenses
Receivables $54.59K
Other Receivables $101.3K
Total Short-Term Assets $371.7K $4.938K
YoY Change 7426.65%
LONG-TERM ASSETS
Property, Plant & Equipment $695.2K $88.00K
YoY Change 690.02%
Goodwill $466.6K
YoY Change
Intangibles $19.23K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.746M $107.2K
YoY Change 2461.32%
TOTAL ASSETS
Total Short-Term Assets $371.7K $4.938K
Total Long-Term Assets $2.746M $107.2K
Total Assets $3.118M $112.2K
YoY Change 2679.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $652.3K $4.524K
YoY Change 14318.66%
Accrued Expenses $320.7K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $145.4K
YoY Change -100.0% -30.78%
Long-Term Debt Due $279.5K
YoY Change
Total Short-Term Liabilities $1.554M $149.9K
YoY Change 936.45% -37.4%
LONG-TERM LIABILITIES
Long-Term Debt $279.1K $0.00
YoY Change
Other Long-Term Liabilities $786.6K
YoY Change
Total Long-Term Liabilities $1.066M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.554M $149.9K
Total Long-Term Liabilities $1.066M $0.00
Total Liabilities $2.619M $149.9K
YoY Change 1647.42% -37.4%
SHAREHOLDERS EQUITY
Retained Earnings -$1.806M -$558.9K
YoY Change 223.1% 84.68%
Common Stock $200.8K $124.7K
YoY Change 61.0% 592.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $498.7K -$37.73K
YoY Change
Total Liabilities & Shareholders Equity $3.118M $112.2K
YoY Change 2679.92%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$764.1K -$69.75K
YoY Change 995.47% 2112.94%
Depreciation, Depletion And Amortization $61.07K $280.00
YoY Change 21711.07%
Cash From Operating Activities -$177.4K -$79.29K
YoY Change 123.75% 802.05%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $88.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$107.5K
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 62.16K 150.5K
YoY Change -58.7% 1612.17%
NET CHANGE
Cash From Operating Activities -177.4K -79.29K
Cash From Investing Activities 0.000 -107.5K
Cash From Financing Activities 62.16K 150.5K
Net Change In Cash -115.3K -36.29K
YoY Change 217.58%
FREE CASH FLOW
Cash From Operating Activities -$177.4K -$79.29K
Capital Expenditures $0.00 $88.00K
Free Cash Flow -$177.4K -$167.3K
YoY Change 6.05%

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<p id="xdx_844_eus-gaap--UseOfEstimates_zLMJzFlh8G56" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z3uSmDqygmE7">Use of Estimates and Assumptions</span> - </b>The preparation of financial statements in accordance with U.S. GAAP requires the Company’s 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 consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results can, and in many cases will, differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2024Q2 us-gaap Long Term Debt
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CY2024Q2 us-gaap Common Stock Shares Authorized
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