2023 Q3 Form 10-Q Financial Statement

#000147793223006808 Filed on September 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $324.0K $803.9K
YoY Change -59.69% 81.66%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.100K $9.100K
YoY Change 0.0% 4.36%
% of Gross Profit
Operating Expenses $333.1K $817.3K
YoY Change -59.24% 79.91%
Operating Profit -$333.1K -$817.3K
YoY Change -59.24% 79.91%
Interest Expense $99.14K -$62.89K
YoY Change -257.64% -102.24%
% of Operating Profit
Other Income/Expense, Net -$852.4K -$46.35K
YoY Change 1739.21% -101.69%
Pretax Income -$1.186M -$863.7K
YoY Change 37.27% -137.69%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.186M -$863.7K
YoY Change 37.27% -137.69%
Net Earnings / Revenue
Basic Earnings Per Share -$0.15
Diluted Earnings Per Share $0.00 -$0.15
COMMON SHARES
Basic Shares Outstanding 4.541B shares 23.31M shares
Diluted Shares Outstanding 22.56M shares

Balance Sheet

Concept 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $250.00 $8.260K
YoY Change -96.97% -99.52%
Cash & Equivalents $250.00 $8.259K
Short-Term Investments
Other Short-Term Assets $3.000K $29.83K
YoY Change -89.94% -91.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.250K $38.09K
YoY Change -91.47% -98.15%
LONG-TERM ASSETS
Property, Plant & Equipment $1.069M $1.105M
YoY Change -3.29% 55.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.069M $1.105M
YoY Change -3.29% 55.7%
TOTAL ASSETS
Total Short-Term Assets $3.250K $38.09K
Total Long-Term Assets $1.069M $1.105M
Total Assets $1.072M $1.143M
YoY Change -6.23% -58.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $754.4K $662.9K
YoY Change 13.8% -16.82%
Accrued Expenses $1.049M $864.2K
YoY Change 21.4% 2.44%
Deferred Revenue
YoY Change
Short-Term Debt $1.790M $1.524M
YoY Change 17.44% -6.19%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.025M $3.158M
YoY Change 27.45% -11.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.025M $3.158M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $4.025M $3.158M
YoY Change 27.45% -11.26%
SHAREHOLDERS EQUITY
Retained Earnings -$73.91M -$71.61M
YoY Change 3.21% 9.01%
Common Stock $4.881M $24.41K
YoY Change 19897.37% 559.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.953M -$2.015M
YoY Change
Total Liabilities & Shareholders Equity $1.072M $1.143M
YoY Change -6.23% -58.78%

Cashflow Statement

Concept 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.186M -$863.7K
YoY Change 37.27% -137.69%
Depreciation, Depletion And Amortization $9.100K $9.100K
YoY Change 0.0% 4.36%
Cash From Operating Activities -$75.51K -$233.6K
YoY Change -67.68% -71.75%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
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 $65.40K $105.0K
YoY Change -37.71% -95.76%
NET CHANGE
Cash From Operating Activities -$75.51K -$233.6K
Cash From Investing Activities $0.00 $0.00
Cash From Financing Activities $65.40K $105.0K
Net Change In Cash -$10.11K -$128.6K
YoY Change -92.14% -109.17%
FREE CASH FLOW
Cash From Operating Activities -$75.51K -$233.6K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$75.51K -$233.6K
YoY Change -67.68% -59.82%

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CommonStockIssuedForAccruedExpensesRelatedParties
0 usd
CY2023Q3 mmex Shares And Warrants Issued For Debt Discount
SharesAndWarrantsIssuedForDebtDiscount
44367 usd
CY2022Q3 mmex Shares And Warrants Issued For Debt Discount
SharesAndWarrantsIssuedForDebtDiscount
0 usd
CY2023Q3 mmex Related Party Accounts Payable Exchanged For Related Party Convertible Note
RelatedPartyAccountsPayableExchangedForRelatedPartyConvertibleNote
20323 usd
CY2022Q3 mmex Related Party Accounts Payable Exchanged For Related Party Convertible Note
RelatedPartyAccountsPayableExchangedForRelatedPartyConvertibleNote
0 usd
CY2023Q3 mmex Stock Issued During Period Value Conversion Of Unit
StockIssuedDuringPeriodValueConversionOfUnit
301724 usd
CY2022Q3 mmex Stock Issued During Period Value Conversion Of Unit
StockIssuedDuringPeriodValueConversionOfUnit
0 usd
CY2023Q3 mmex Exercise Of Prefunded Warrants
ExerciseOfPrefundedWarrants
0 usd
CY2022Q3 mmex Exercise Of Prefunded Warrants
ExerciseOfPrefundedWarrants
2494 usd
CY2023Q3 us-gaap Dividends
Dividends
0 usd
CY2022Q3 us-gaap Dividends
Dividends
2534402 usd
CY2023Q3 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px">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 the 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. Actual results could differ from those estimates.</p>
CY2023Q2 mmex Less Discount
LessDiscount
0 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
28200 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
495000 usd
CY2023Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px">Certain amounts in the consolidated financial statements for the prior year have been reclassified to conform with the current year presentation.</p>
CY2023Q3 mmex Accounts Payables Related Parties Current
AccountsPayablesRelatedPartiesCurrent
431286 usd
CY2023Q2 mmex Accounts Payables Related Parties Current
AccountsPayablesRelatedPartiesCurrent
465703 usd
CY2023Q3 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
20000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
0 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
0 usd
CY2023Q3 mmex Convertible Notes Payables
ConvertibleNotesPayables
0 usd
CY2023Q2 mmex Convertible Notes Payables
ConvertibleNotesPayables
20000 usd
CY2023Q1 us-gaap Convertible Preferred Stock Converted To Other Securities
ConvertiblePreferredStockConvertedToOtherSecurities
20000 usd
CY2023Q1 us-gaap Debt Instrument Convertible Threshold Percentage Of Stock Price Trigger
DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger
1.10 pure
CY2023Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 usd
CY2022Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
175 usd
CY2023Q3 mmex Notes Payable Related Parties Classified Gross
NotesPayableRelatedPartiesClassifiedGross
35872 usd
CY2023Q2 mmex Notes Payable Related Parties Classified Gross
NotesPayableRelatedPartiesClassifiedGross
0 usd
CY2023Q3 mmex Less Discount
LessDiscount
-20910 usd
CY2023Q3 mmex Notes Payable Related Party Classified Current
NotesPayableRelatedPartyClassifiedCurrent
14962 usd
CY2023Q2 mmex Notes Payable Related Party Classified Current
NotesPayableRelatedPartyClassifiedCurrent
0 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1247688 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1247877 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
178982 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
170074 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1068706 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1077803 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
9097 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
9097 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1049099 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
985751 usd
CY2021Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2022-03-11
CY2021Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.10 pure
CY2023Q3 mmex Convertible Note Payable Currently In Default
ConvertibleNotePayableCurrentlyInDefault
185100 usd
CY2023Q2 mmex Convertible Note Payable Currently In Default
ConvertibleNotePayableCurrentlyInDefault
120200 usd
CY2023Q3 mmex Convertible Notes Payable Discount
ConvertibleNotesPayableDiscount
-60148 usd
CY2023Q2 mmex Convertible Notes Payable Discount
ConvertibleNotesPayableDiscount
-14490 usd
CY2023Q3 mmex Convertible Notes Payable Currently In Default Net Of Discount
ConvertibleNotesPayableCurrentlyInDefaultNetOfDiscount
124952 usd
CY2023Q2 mmex Convertible Notes Payable Currently In Default Net Of Discount
ConvertibleNotesPayableCurrentlyInDefaultNetOfDiscount
105710 usd
CY2023Q3 mmex Convertible Notes Payable Currently In Default
ConvertibleNotesPayableCurrentlyInDefault
520890 usd
CY2023Q2 mmex Convertible Notes Payable Currently In Default
ConvertibleNotesPayableCurrentlyInDefault
333840 usd
CY2023Q3 mmex Convertible Note Payable Discount
ConvertibleNotePayableDiscount
0 usd
CY2023Q2 mmex Convertible Note Payable Discount
ConvertibleNotePayableDiscount
0 usd
CY2023Q3 mmex Convertible Note Payable Currently In Default Net Of Discount
ConvertibleNotePayableCurrentlyInDefaultNetOfDiscount
520890 usd
CY2023Q2 mmex Convertible Note Payable Currently In Default Net Of Discount
ConvertibleNotePayableCurrentlyInDefaultNetOfDiscount
333840 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
165000 usd
CY2022Q2 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
155000 usd
CY2022Q2 us-gaap Costs And Expenses
CostsAndExpenses
10000 usd
CY2022Q2 mmex Note Desceription
NoteDesceription
The Company can prepay the note with prepayment penalties ranging from 105% to 125% during the first 180 days after issuance. During the three months ended July 31, 2023 the Company converted $12,950 into 256,708,619 shares of common stock
CY2023Q3 mmex Convertible Notes Payable Total
ConvertibleNotesPayableTotal
421375 usd
CY2023Q2 mmex Convertible Notes Payable Total
ConvertibleNotesPayableTotal
635875 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4234 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
15200 usd
CY2023Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
417141 usd
CY2023Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
620675 usd
CY2023Q3 mmex Capital Stock Authorized
CapitalStockAuthorized
10001000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q3 mmex Total Shares Issued Of Common Stock
TotalSharesIssuedOfCommonStock
4111741130 shares
CY2023Q3 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
27450 usd
CY2023Q3 us-gaap Line Of Credit Facility Increase Accrued Interest
LineOfCreditFacilityIncreaseAccruedInterest
1399 usd
CY2023Q3 us-gaap Payments For Fees
PaymentsForFees
540 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
279120377 usd
CY2023Q3 mmex Shares Issued For Accrued Liability Related Parties Share
SharesIssuedForAccruedLiabilityRelatedPartiesShare
17808 shares
CY2023Q3 mmex Shares Issued For Exercise Of Prefunded Warrants
SharesIssuedForExerciseOfPrefundedWarrants
3174187995 shares
CY2023Q3 mmex Shares Issued For A Debt Discount Value
SharesIssuedForADebtDiscountValue
204763 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
892133 usd
CY2023Q3 mmex Warrants To Purchase Share
WarrantsToPurchaseShare
687370 shares
CY2023Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
710802 shares
CY2022Q3 mmex Common Stock Shares Issued Upon Conversion Of Debt Shares
CommonStockSharesIssuedUponConversionOfDebtShares
109677 usd
CY2022Q3 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
90000 usd
CY2022Q3 us-gaap Line Of Credit Facility Increase Accrued Interest
LineOfCreditFacilityIncreaseAccruedInterest
19677 usd
CY2022Q3 mmex Shares Issued Prefunded Warrants
SharesIssuedPrefundedWarrants
2494318 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.000116
CY2023Q3 mmex Warrant Grant
WarrantGrant
3000000 shares
CY2023Q3 mmex Warrants Issued As Stock Based Compensation
WarrantsIssuedAsStockBasedCompensation
28200 usd
CY2023Q3 mmex Shares Issued For A Debt Discount Shares
SharesIssuedForADebtDiscountShares
398119123 shares
CY2023Q3 mmex Shares Issued For Accrued Liability Related Parties Value
SharesIssuedForAccruedLiabilityRelatedPartiesValue
20323 usd
CY2023Q3 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
613479624 shares
CY2023Q3 mmex Common Stock Shares Issued For Conversion Of Convertible Note Value
CommonStockSharesIssuedForConversionOfConvertibleNoteValue
44367 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4881359425 shares
CY2023Q3 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
25001000000 shares
CY2023Q3 mmex Shares Issued For Accrued Liabilities
SharesIssuedForAccruedLiabilities
25000000000 shares
CY2023Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
1000000 usd

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