2024 Q4 Form 10-Q Financial Statement
#000194986424000026 Filed on December 11, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2024 Q2 |
---|---|---|---|
Revenue | $16.04K | $5.293K | |
YoY Change | 1045.79% | ||
Cost Of Revenue | $9.339K | $4.400K | |
YoY Change | 567.07% | ||
Gross Profit | $6.702K | $893.00 | |
YoY Change | 378.71% | ||
Gross Profit Margin | 41.78% | 16.87% | |
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $27.08K | $19.32K | |
YoY Change | 282.9% | 160.25% | |
Operating Profit | -$11.03K | -$14.03K | |
YoY Change | -294.57% | 88.95% | |
Interest Expense | $2.00 | ||
YoY Change | -60.0% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $2.00 | ||
YoY Change | -60.0% | ||
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$11.03K | -$14.03K | |
YoY Change | 94.74% | 89.06% | |
Net Earnings / Revenue | -68.79% | -264.99% | |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | |||
COMMON SHARES | |||
Basic Shares Outstanding | 5.829M shares | 5.829M shares | |
Diluted Shares Outstanding | 5.829M shares | 5.829M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2024 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $8.057K | ||
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $27.78K | $1.500K | $73.60K |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $42.28K | $1.500K | $73.60K |
YoY Change | 1056800.0% | 1530.84% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | $72.40K | $76.94K | $13.17K |
YoY Change | 362.94% | 60.52% | |
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $72.40K | $76.94K | $13.17K |
YoY Change | 259.85% | -23.45% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $42.28K | $1.500K | $73.60K |
Total Long-Term Assets | $72.40K | $76.94K | $13.17K |
Total Assets | $114.7K | $78.44K | $86.77K |
YoY Change | 469.87% | 299.52% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $12.10K | $12.22K | $12.45K |
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $170.8K | $123.5K | $117.8K |
YoY Change | 266.28% | 235.31% | |
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 | $170.8K | $123.5K | $117.8K |
Total Long-Term Liabilities | |||
Total Liabilities | $170.8K | $123.5K | $117.8K |
YoY Change | 266.28% | 235.31% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$93.83K | -$82.80K | -$68.77K |
YoY Change | 617.08% | -483.8% | |
Common Stock | $37.73K | $37.73K | $5.829K |
YoY Change | 738.36% | 29.53% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$56.10K | -$45.07K | -$31.04K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $114.7K | $78.44K | $86.77K |
YoY Change | 469.87% | 299.52% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2024 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$11.03K | -$14.03K | |
YoY Change | 94.74% | 89.06% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$562.00 | ||
YoY Change | -91.53% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $562.00 | ||
YoY Change | -91.53% | ||
NET CHANGE | |||
Cash From Operating Activities | -$562.00 | ||
Cash From Investing Activities | |||
Cash From Financing Activities | $562.00 | ||
Net Change In Cash | |||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$562.00 | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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8057 | usd | |
CY2024Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
8057 | usd |
CY2024Q4 | mgnc |
Accumulated Deficit
AccumulatedDeficit
|
93830 | usd |
CY2024Q4 | mgnc |
Netloss
Netloss
|
25060 | usd |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
25866 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_846_eus-gaap--UseOfEstimates_zlXRLm3ByUV5" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><i><span id="xdx_868_zNg0CjjpK5oi">Use of Estimates</span></i></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
CY2024Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
84500 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
18400 | usd |
us-gaap |
Reclassifications
Reclassifications
|
<p id="xdx_840_eus-gaap--Reclassifications_zS1DDsswNhC2" style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_865_zPeqjojkYXm1">Financial Statement Reclassification</span></i></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain account balances from prior periods have been reclassified in these condensed financial statements to conform to current period classifications.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
CY2024Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
139292 | usd |
CY2024Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5829047 | shares |
CY2024Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5829047 | shares |
CY2024Q4 | us-gaap |
Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
|
6470 | usd |