$MMND
MASTERMIND, INC.

2023 Q3 Form 10-Q Financial Statement

#000147793223006064 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.209M $1.319M
YoY Change 5.2% -9.39%
Cost Of Revenue $446.8K $533.3K
YoY Change 7.13% 35.83%
Gross Profit $761.9K $786.1K
YoY Change 4.1% -26.08%
Gross Profit Margin 63.03% 59.58%
Selling, General & Admin $600.4K $580.0K
YoY Change 7.25% -5.78%
% of Gross Profit 78.8% 73.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.260K $0.00
YoY Change 11.69% -100.0%
% of Gross Profit 0.95% 0.0%
Operating Expenses $600.4K $580.0K
YoY Change 7.26% -5.79%
Operating Profit $161.5K $206.1K
YoY Change -6.18% -53.97%
Interest Expense $16.27K $10.00K
YoY Change -3112.96% 975.27%
% of Operating Profit 10.07% 4.85%
Other Income/Expense, Net $16.27K $6.559K
YoY Change 605.27%
Pretax Income $177.8K $212.7K
YoY Change 3.6% -52.61%
Income Tax $48.19K $57.42K
% Of Pretax Income 27.11% 27.0%
Net Earnings $129.6K $155.2K
YoY Change -45.81% -53.5%
Net Earnings / Revenue 10.72% 11.77%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 34.51M shares 34.51M shares
Diluted Shares Outstanding 34.51M shares 34.51M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.395M $1.190M
YoY Change -19.6% -39.7%
Cash & Equivalents $1.395M $1.190M
Short-Term Investments
Other Short-Term Assets $0.00 $80.00K
YoY Change -100.0% 3.25%
Inventory
Prepaid Expenses
Receivables $677.3K $864.3K
Other Receivables $111.8K $50.00K
Total Short-Term Assets $3.809M $3.595M
YoY Change 14.5% 18.36%
LONG-TERM ASSETS
Property, Plant & Equipment $36.67K $38.49K
YoY Change -29.48% -25.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $36.67K $38.49K
YoY Change -82.18% -83.48%
TOTAL ASSETS
Total Short-Term Assets $3.809M $3.595M
Total Long-Term Assets $36.67K $38.49K
Total Assets $3.845M $3.633M
YoY Change 8.87% 11.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $283.0K $110.0K
YoY Change 158.98% -39.16%
Accrued Expenses $0.00 $0.00
YoY Change -100.0% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $416.0K $381.7K
YoY Change -24.6% -11.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $416.0K $381.7K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $761.8K $679.3K
YoY Change -9.08% -16.64%
SHAREHOLDERS EQUITY
Retained Earnings $2.986M $2.857M
YoY Change 14.99% 21.16%
Common Stock $34.51K $34.51K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.084M $2.954M
YoY Change
Total Liabilities & Shareholders Equity $3.845M $3.633M
YoY Change 8.87% 11.11%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $129.6K $155.2K
YoY Change -45.81% -53.5%
Depreciation, Depletion And Amortization $7.260K $0.00
YoY Change 11.69% -100.0%
Cash From Operating Activities $210.8K -$200.0K
YoY Change -191.16% -142.07%
INVESTING ACTIVITIES
Capital Expenditures $2.070K $0.00
YoY Change -70.97% -100.0%
Acquisitions
YoY Change
Other Investing Activities $1.200K $0.00
YoY Change
Cash From Investing Activities -$870.00 $0.00
YoY Change -87.8% -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
YoY Change
NET CHANGE
Cash From Operating Activities 210.8K -200.0K
Cash From Investing Activities -870.0 0.000
Cash From Financing Activities
Net Change In Cash 209.9K -200.0K
YoY Change -188.07% -142.67%
FREE CASH FLOW
Cash From Operating Activities $210.8K -$200.0K
Capital Expenditures $2.070K $0.00
Free Cash Flow $208.7K -$200.0K
YoY Change -187.57% -141.48%

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dei Entity Registrant Name
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MASTERMIND, INC.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>1. Business</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 33.75pt; text-align:justify;">Mastermind, Inc. (the “Company”, “we”, “us”, or the “organization”) is an involvement marketing service agency that designs, creates and develops branding and marketing campaigns, primarily for large corporate clients with well-known brands. We specialize in customer conversion initiatives that we believe facilitate the involvement of more of the “right customers” with the brands of our clients. We focus on converting prospects to customers. Our programs can take on various forms, including creating and managing content marketing, influencer marketing, social marketing/community management, digital issues management communications, promotions, Augmented Reality Marketing, and UX Analytics &amp; Digital Intelligence.</p>
CY2023Q2 us-gaap Cash
Cash
384143 usd
CY2022Q3 us-gaap Cash
Cash
1030707 usd
CY2023Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
805440 usd
CY2022Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
704433 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1189583 usd
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1735140 usd
CY2023Q2 us-gaap Deposit Liability Uninsured
DepositLiabilityUninsured
250000 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
121000 usd
CY2023Q2 mmnd Related Party Transaction Expenses With Related Party
RelatedPartyTransactionExpensesWithRelatedParty
275934 usd
mmnd Related Party Transaction Expenses With Related Party
RelatedPartyTransactionExpensesWithRelatedParty
827493 usd
CY2022Q2 mmnd Related Party Transaction Expenses With Related Party
RelatedPartyTransactionExpensesWithRelatedParty
285759 usd
mmnd Related Party Transaction Expenses With Related Party
RelatedPartyTransactionExpensesWithRelatedParty
709708 usd
CY2023Q2 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
86485 usd
CY2022Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
161640 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
0 usd
CY2022Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
73795 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
86485 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
235435 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
47994 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
183431 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38491 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52004 usd
CY2023Q2 mmnd Depreciation Expences
DepreciationExpences
3778 usd
mmnd Depreciation Expences
DepreciationExpences
13623 usd
CY2022Q2 mmnd Depreciation Expences
DepreciationExpences
5606 usd
mmnd Depreciation Expences
DepreciationExpences
16643 usd
mmnd Property Plant And Equipment Disposal
PropertyPlantAndEquipmentDisposal
85403 usd
CY2023Q2 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
2100000 usd
mmnd Interest Rate
InterestRate
0.055 pure
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
461740 usd
CY2023Q2 mmnd Operating Lease Rightofuse Asset Before Accumulated Amortization
OperatingLeaseRightofuseAssetBeforeAccumulatedAmortization
0 usd
CY2022Q3 mmnd Operating Lease Rightofuse Asset Before Accumulated Amortization
OperatingLeaseRightofuseAssetBeforeAccumulatedAmortization
461740 usd
CY2023Q2 mmnd Operating Lease Rightofuse Asset Accumulated Amortization
OperatingLeaseRightofuseAssetAccumulatedAmortization
0 usd
CY2022Q3 mmnd Operating Lease Rightofuse Asset Accumulated Amortization
OperatingLeaseRightofuseAssetAccumulatedAmortization
-307924 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
153816 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
153816 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
114389 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
39427 usd
CY2022Q1 mmnd Loss Contingency Damages Sought Shares Of Common Stock
LossContingencyDamagesSoughtSharesOfCommonStock
3000000 shares
CY2017Q4 mmnd Description Of Federalcorporatetaxrate
DescriptionOfFederalcorporatetaxrate
decrease from 35% to 21%
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34505520 shares

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0001477932-23-006064.txt Edgar Link pending
0001477932-23-006064-xbrl.zip Edgar Link pending
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mmnd_10q.htm Edgar Link pending
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mmnd_10q_htm.xml Edgar Link completed