$MLRT
Metalert, Inc.

2020 Q4 Form 10-Q Financial Statement

#000149315220021616 Filed on November 16, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $128.2K $362.2K $340.1K
YoY Change -40.59% 6.52% 73.93%
Cost Of Revenue $128.2K $185.3K $37.54K
YoY Change 147.26% 393.69% 23.39%
Gross Profit $0.00 $176.9K $302.5K
YoY Change -100.0% -41.52% 102.25%
Gross Profit Margin 0.0% 48.84% 88.96%
Selling, General & Admin $269.2K $51.46K $58.44K
YoY Change 511.06% -11.95% -38.06%
% of Gross Profit 29.09% 19.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.190K $6.190K $5.660K
YoY Change 9.36% 9.36% -64.29%
% of Gross Profit 3.5% 1.87%
Operating Expenses $269.2K $240.0K $229.8K
YoY Change 511.19% 4.44% -39.01%
Operating Profit -$269.2K -$63.09K $72.72K
YoY Change -324.57% -186.75% -132.01%
Interest Expense -$39.78K $66.20K -$329.2K
YoY Change -86.86% -120.11% -962.24%
% of Operating Profit -452.61%
Other Income/Expense, Net $18.99K $66.20K -$329.1K
YoY Change 68.8% -120.11% 1137.58%
Pretax Income -$401.7K $3.110K -$256.4K
YoY Change 178.66% -101.21% 1.02%
Income Tax
% Of Pretax Income
Net Earnings -$401.7K $3.108K -$256.4K
YoY Change 178.66% -101.21% 1.03%
Net Earnings / Revenue -313.38% 0.86% -75.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.973K $24.04 -$4.680K
COMMON SHARES
Basic Shares Outstanding 135.9M shares 128.6M shares 88.89M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.08K $232.0K $193.1K
YoY Change -56.04% 20.18% 1161.07%
Cash & Equivalents $76.91K $227.4K $76.22K
Short-Term Investments $4.166K $4.600K $116.9K
Other Short-Term Assets $54.59K $88.88K $10.50K
YoY Change 425.79% 746.5% -28.56%
Inventory $114.1K $98.73K $41.51K
Prepaid Expenses
Receivables $40.48K $70.63K $80.61K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $290.3K $490.3K $325.7K
YoY Change 4.12% 50.53% 24.66%
LONG-TERM ASSETS
Property, Plant & Equipment $7.878K $9.065K $23.75K
YoY Change -57.19% -61.83% -74.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.878K $14.07K $39.06K
YoY Change -76.42% -63.99% -64.59%
TOTAL ASSETS
Total Short-Term Assets $290.3K $490.3K $325.7K
Total Long-Term Assets $7.878K $14.07K $39.06K
Total Assets $298.2K $504.3K $364.8K
YoY Change -4.5% 38.27% -1.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $182.6K $187.4K $201.0K
YoY Change -10.1% -6.78% -45.97%
Accrued Expenses $327.3K $314.6K $421.9K
YoY Change -25.8% -25.43% -15.52%
Deferred Revenue $37.35K $38.45K $155.1K
YoY Change -46.7% -75.21%
Short-Term Debt $400.00 $1.820M $2.386M
YoY Change -99.81% -23.72% 1093.07%
Long-Term Debt Due $21.72K
YoY Change
Total Short-Term Liabilities $3.184M $3.178M $3.773M
YoY Change -18.55% -15.77% 13.1%
LONG-TERM LIABILITIES
Long-Term Debt $217.9K $217.9K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $217.9K $217.9K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.184M $3.178M $3.773M
Total Long-Term Liabilities $217.9K $217.9K $0.00
Total Liabilities $3.402M $3.396M $3.773M
YoY Change -12.98% -9.99% 13.1%
SHAREHOLDERS EQUITY
Retained Earnings -$24.18M -$23.78M -$23.27M
YoY Change 2.62% 2.2% 4.24%
Common Stock $13.80K $13.49K $5.962K
YoY Change 93.27% 126.27% 294.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.104M -$2.892M -$3.409M
YoY Change
Total Liabilities & Shareholders Equity $298.2K $504.3K $364.8K
YoY Change -4.5% 38.27% -1.83%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$401.7K $3.108K -$256.4K
YoY Change 178.66% -101.21% 1.03%
Depreciation, Depletion And Amortization $6.190K $6.190K $5.660K
YoY Change 9.36% 9.36% -64.29%
Cash From Operating Activities -$140.5K $18.20K -$86.02K
YoY Change 30.08% -121.16% -6.13%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -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 -9.970K -40.21K -26.26K
YoY Change -108.73% 53.12% -146.07%
NET CHANGE
Cash From Operating Activities -140.5K 18.20K -86.02K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities -9.970K -40.21K -26.26K
Net Change In Cash -150.5K -22.01K -112.3K
YoY Change -407.23% -80.4% 355.68%
FREE CASH FLOW
Cash From Operating Activities -$140.5K $18.20K -$86.02K
Capital Expenditures $0.00
Free Cash Flow -$86.02K
YoY Change -15.37%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Use of Estimates</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the accompanying unaudited 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 amounts of revenues and expenses during the reporting period. These estimates include, but are not limited to, estimates related to revenue recognition, allowance for doubtful accounts, inventory valuation, tangible and intangible long-term asset valuation, warranty and other obligations and commitments. Estimates are updated on an ongoing basis and are evaluated based on historical experience and current circumstances. Changes in facts and circumstances in the future may give rise to changes in these estimates which may cause actual results to differ from current estimates.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Concentrations</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We currently rely on one manufacturer to supply us with our GPS SmartSole and one manufacturer to supply us with the GPS device included in the GPS SmartSole. The loss of either of these manufacturers could severely impede our ability to manufacture the GPS SmartSole.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the nine months ended September 30, 2020, the Company had four customers representing approximately 34%, 20%, 11% and 8% of sales, respectively, and four customers representing approximately 17%, 13%, 12% and 12% of total accounts receivable, respectively, as of the period then ended. The Company had two customers representing approximately 77%, and 8% of sales, respectively, for the nine months ended September 30, 2019, and four customers representing approximately 31%, 16%, 16% and 14% of total accounts receivable, respectively, as of the period then ended.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Use of Estimates</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the accompanying unaudited 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 amounts of revenues and expenses during the reporting period. These estimates include, but are not limited to, estimates related to revenue recognition, allowance for doubtful accounts, inventory valuation, tangible and intangible long-term asset valuation, warranty and other obligations and commitments. Estimates are updated on an ongoing basis and are evaluated based on historical experience and current circumstances. Changes in facts and circumstances in the future may give rise to changes in these estimates which may cause actual results to differ from current estimates.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Concentrations</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We currently rely on one manufacturer to supply us with our GPS SmartSole and one manufacturer to supply us with the GPS device included in the GPS SmartSole. The loss of either of these manufacturers could severely impede our ability to manufacture the GPS SmartSole.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the nine months ended September 30, 2020, the Company had four customers representing approximately 34%, 20%, 11% and 8% of sales, respectively, and four customers representing approximately 17%, 13%, 12% and 12% of total accounts receivable, respectively, as of the period then ended. The Company had two customers representing approximately 77%, and 8% of sales, respectively, for the nine months ended September 30, 2019, and four customers representing approximately 31%, 16%, 16% and 14% of total accounts receivable, respectively, as of the period then ended.</p>
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CY2019Q3 GTXO Interest Expense Income And Financing Costs
InterestExpenseIncomeAndFinancingCosts
-37911 usd
GTXO Gainloss On Conversion Of Convertible Notes
GainlossOnConversionOfConvertibleNotes
-11250 usd
CY2020Q3 GTXO Gainloss On Conversion Of Convertible Notes
GainlossOnConversionOfConvertibleNotes
usd
CY2019Q3 GTXO Gainloss On Conversion Of Convertible Notes
GainlossOnConversionOfConvertibleNotes
usd
GTXO Gain Loss On Marketable Securities
GainLossOnMarketableSecurities
91574 usd
GTXO Gain Loss On Marketable Securities
GainLossOnMarketableSecurities
-517494 usd
CY2020Q3 GTXO Gain Loss On Marketable Securities
GainLossOnMarketableSecurities
-897 usd
CY2019Q3 GTXO Gain Loss On Marketable Securities
GainLossOnMarketableSecurities
-518000 usd
GTXO Redeemable Preferred Stock Dividends One
RedeemablePreferredStockDividendsOne
150000 usd
GTXO Redeemable Preferred Stock Dividends One
RedeemablePreferredStockDividendsOne
usd
CY2020Q3 GTXO Redeemable Preferred Stock Dividends One
RedeemablePreferredStockDividendsOne
usd
CY2019Q3 GTXO Redeemable Preferred Stock Dividends One
RedeemablePreferredStockDividendsOne
usd
GTXO Stock Issuance Of Common Stock For Financings
StockIssuanceOfCommonStockForFinancings
3100 usd
GTXO Proceeds From Issuance Of Preferred Stock For Financing
ProceedsFromIssuanceOfPreferredStockForFinancing
250000 usd

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0001493152-20-021616.txt Edgar Link pending
0001493152-20-021616-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
gtxo-20200930.xsd Edgar Link pending
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gtxo-20200930_cal.xml Edgar Link unprocessable
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FilingSummary.xml Edgar Link unprocessable