2024 Q4 Form 10-Q Financial Statement
#000152013824000423 Filed on November 13, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
Revenue | $1.945K | $4.701K | |
YoY Change | -58.63% | ||
Cost Of Revenue | $793.00 | $1.800K | |
YoY Change | -55.94% | ||
Gross Profit | $1.152K | $2.901K | |
YoY Change | -60.29% | ||
Gross Profit Margin | 59.23% | 61.71% | |
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $112.4K | $110.9K | |
YoY Change | 1.42% | ||
Operating Profit | -$111.3K | -$108.0K | |
YoY Change | 3.07% | ||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $232.00 | -$2.111K | |
YoY Change | -110.99% | ||
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$111.1K | -$110.1K | |
YoY Change | 0.89% | ||
Net Earnings / Revenue | -5710.18% | -2341.78% | |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | |
COMMON SHARES | |||
Basic Shares Outstanding | 33.61M shares | 33.61M shares | 33.47M shares |
Diluted Shares Outstanding | 33.61M shares | 33.47M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $3.348K | $165.8K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | $7.138K | ||
Prepaid Expenses | $19.80K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $30.29K | ||
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $10.00K | ||
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $30.29K | ||
Total Long-Term Assets | $10.00K | ||
Total Assets | $40.29K | ||
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
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 | $83.23K | ||
YoY Change | |||
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 | $83.23K | ||
Total Long-Term Liabilities | |||
Total Liabilities | $83.23K | ||
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$3.766M | ||
YoY Change | |||
Common Stock | $3.361K | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$42.94K | $382.9K | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $40.29K | ||
YoY Change |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$111.1K | -$110.1K | |
YoY Change | 0.89% | ||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | |||
YoY Change | |||
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 | |||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | |||
Cash From Investing Activities | |||
Cash From Financing Activities | |||
Net Change In Cash | |||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | |||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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StockholdersEquity
|
670120 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-177150 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
492970 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-110087 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
382883 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-334979 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-644067 | usd | |
mibe |
Stockbased Professional Fees
StockbasedProfessionalFees
|
70000 | usd | |
mibe |
Stockbased Professional Fees
StockbasedProfessionalFees
|
363426 | usd | |
us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
14158 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-9137 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
4094 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-17355 | usd | |
mibe |
Increase Decrease In Prepaid Expenses Related Party
IncreaseDecreaseInPrepaidExpensesRelatedParty
|
-2370 | usd | |
mibe |
Increase Decrease In Prepaid Expenses Related Party
IncreaseDecreaseInPrepaidExpensesRelatedParty
|
18499 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
47818 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
6342 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-174141 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-296892 | usd | |
us-gaap |
Payments For Delayed Tax Exempt Exchange
PaymentsForDelayedTaxExemptExchange
|
10000 | usd | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
76000 | usd | |
mibe |
Proceeds From Sale Of Common Stock Yet To Be Issued
ProceedsFromSaleOfCommonStockYetToBeIssued
|
36600 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
102600 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-71541 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-296892 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
74889 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
462729 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3348 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
165837 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-334979 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-644067 | usd | |
CY2024Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-3766064 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-3431085 | usd |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-174141 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-296892 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_842_eus-gaap--UseOfEstimates_zlBishENYcgc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_863_zXuqrI6k5nx5">Use of Estimates</span></b></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">The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the nine months ended September 30, 2024 and 2023 include estimates for obsolete or slow-moving inventory and the fair value of non-cash equity transactions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
CY2024Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q3 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
14158 | usd |
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
14158 | usd | |
CY2024Q3 | us-gaap |
Inventory Net
InventoryNet
|
7138 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
103933 | usd |
CY2024Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
19800 | usd |
CY2024Q3 | mibe |
Prepaid Expenses Related Party
PrepaidExpensesRelatedParty
|
18500 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
21025 | usd |
CY2023Q4 | mibe |
Prepaid Expenses Related Party
PrepaidExpensesRelatedParty
|
20870 | usd |
us-gaap |
Advertising Expense
AdvertisingExpense
|
3536 | usd | |
us-gaap |
Advertising Expense
AdvertisingExpense
|
14655 | usd | |
CY2024Q3 | us-gaap |
Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | usd |
CY2023Q4 | us-gaap |
Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | usd |
CY2024Q3 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
0 | usd |
CY2023Q4 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
0 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | ||
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | ||
CY2024Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2024Q3 | 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 | |
CY2024Q3 | mibe |
Preferred Stock Shares Designated
PreferredStockSharesDesignated
|
1000000 | shares |
CY2023Q4 | mibe |
Preferred Stock Shares Designated
PreferredStockSharesDesignated
|
1000000 | shares |
CY2024Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
1000000 | shares |
CY2024Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
1000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
1000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
1000000 | shares |
CY2024Q1 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
95000 | shares |
CY2024Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
76000 | usd |
CY2024Q1 | us-gaap |
Share Price
SharePrice
|
0.80 | |
CY2024Q2 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
33250 | shares |
CY2024Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
26600 | usd |
CY2024Q2 | us-gaap |
Share Price
SharePrice
|
0.80 | |
CY2024Q3 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
10000 | shares |
CY2024Q3 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
10000 | usd |
CY2024Q3 | us-gaap |
Share Price
SharePrice
|
1.00 | |
CY2024Q3 | mibe |
Shares To Be Issues
SharesToBeIssues
|
73250 | shares |
CY2024Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
0 | usd |
CY2024Q3 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
14158 | usd |
CY2024Q3 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
14158 | usd |
ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | ||
ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | ||
ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | ||
ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |