$MMND
MASTERMIND, INC.

2024 Q1 Form 10-K Financial Statement

#000147793224000153 Filed on January 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q3 2023
Revenue $804.9K $1.209M $4.707M
YoY Change -29.21% 5.2% 3.67%
Cost Of Revenue $316.8K $446.8K $1.826M
YoY Change -25.49% 7.13% 18.99%
Gross Profit $488.1K $761.9K $2.881M
YoY Change -31.43% 4.1% -4.15%
Gross Profit Margin 60.64% 63.03% 61.21%
Selling, General & Admin $431.2K $600.4K $2.311M
YoY Change -22.09% 7.25% 1.92%
% of Gross Profit 88.34% 78.8% 80.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.497K $7.260K $17.26K
YoY Change -9.87% 11.69% -25.43%
% of Gross Profit 0.72% 0.95% 0.6%
Operating Expenses $431.2K $600.4K $2.311M
YoY Change -22.09% 7.26% 1.92%
Operating Profit $56.90K $161.5K $570.1K
YoY Change -64.06% -6.18% -22.78%
Interest Expense $9.180K $16.27K $28.10K
YoY Change 128.93% -3112.96% 1552.94%
% of Operating Profit 16.13% 10.07% 4.93%
Other Income/Expense, Net $9.176K $16.27K $19.17K
YoY Change 149.08% 1029.4%
Pretax Income $66.07K $177.8K $589.3K
YoY Change -59.21% 3.6% -20.37%
Income Tax $18.42K $48.19K $200.0K
% Of Pretax Income 27.88% 27.11% 33.93%
Net Earnings $47.65K $129.6K $389.3K
YoY Change -59.66% -45.81% -43.47%
Net Earnings / Revenue 5.92% 10.72% 8.27%
Basic Earnings Per Share $0.00 $0.00 $0.01
Diluted Earnings Per Share $0.00 $0.00 $0.01
COMMON SHARES
Basic Shares Outstanding 34.51M shares 34.51M shares 34.51M shares
Diluted Shares Outstanding 34.51M shares 34.51M shares 34.51M shares

Balance Sheet

Concept 2024 Q1 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $761.1K $1.395M $1.395M
YoY Change -45.17% -19.6% -19.82%
Cash & Equivalents $761.1K $1.395M $1.395M
Short-Term Investments
Other Short-Term Assets $56.50K $0.00 $0.00
YoY Change -27.08% -100.0% -100.0%
Inventory
Prepaid Expenses
Receivables $212.9K $677.3K $2.302M
Other Receivables $0.00 $111.8K $111.8K
Total Short-Term Assets $3.013M $3.809M $3.809M
YoY Change -16.45% 14.5% 14.38%
LONG-TERM ASSETS
Property, Plant & Equipment $34.40K $36.67K $36.67K
YoY Change -11.45% -29.48% -82.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $34.40K $36.67K $36.67K
YoY Change -11.45% -82.18% -81.67%
TOTAL ASSETS
Total Short-Term Assets $3.013M $3.809M $3.809M
Total Long-Term Assets $34.40K $36.67K $36.67K
Total Assets $3.048M $3.845M $3.845M
YoY Change -16.39% 8.87% 8.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $65.03K $283.0K $283.0K
YoY Change -55.32% 158.98% 157.24%
Accrued Expenses $0.00 $0.00
YoY Change -100.0% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $177.6K $416.0K $416.0K
YoY Change -64.87% -24.6% -24.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $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 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $177.6K $416.0K $416.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $419.7K $761.8K $761.8K
YoY Change -50.42% -9.08% -9.31%
SHAREHOLDERS EQUITY
Retained Earnings $2.531M $2.986M
YoY Change -6.32% 14.99%
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 $2.628M $3.084M $3.084M
YoY Change
Total Liabilities & Shareholders Equity $3.048M $3.845M $3.845M
YoY Change -16.39% 8.87% 8.94%

Cashflow Statement

Concept 2024 Q1 2023 Q3 2023
OPERATING ACTIVITIES
Net Income $47.65K $129.6K $389.3K
YoY Change -59.66% -45.81% -43.47%
Depreciation, Depletion And Amortization $3.497K $7.260K $17.26K
YoY Change -9.87% 11.69% -25.43%
Cash From Operating Activities -$375.9K $210.8K -$329.2K
YoY Change 16.57% -191.16% -148.73%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $2.070K $12.07K
YoY Change -100.0% -70.97% -22.92%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.200K $1.200K
YoY Change -100.0% 0.0%
Cash From Investing Activities $0.00 -$870.00 -$10.87K
YoY Change -100.0% -87.8% -30.58%
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 -$375.9K 210.8K -$329.2K
Cash From Investing Activities $0.00 -870.0 -$10.87K
Cash From Financing Activities
Net Change In Cash -$375.9K 209.9K -$340.1K
YoY Change 15.78% -188.07% -151.53%
FREE CASH FLOW
Cash From Operating Activities -$375.9K $210.8K -$329.2K
Capital Expenditures $0.00 $2.070K $12.07K
Free Cash Flow -$375.9K $208.7K -$341.3K
YoY Change 15.35% -187.57% -151.71%

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.5in; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP requires management to make certain 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.</p>
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CY2022Q3 us-gaap Cash
Cash
1030707 usd
CY2023Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
1274053 usd
CY2022Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
704433 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1395078 usd
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1735140 usd
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q3 us-gaap Deposit Liability Uninsured
DepositLiabilityUninsured
1024000 usd
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.055 pure
CY2012Q1 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
2100000 usd
CY2023 mmnd Amortized Lease Expense
AmortizedLeaseExpense
96000 usd
CY2022 mmnd Amortized Lease Expense
AmortizedLeaseExpense
60000 usd
CY2023 mmnd Related Party Transaction Expenses With Related Party
RelatedPartyTransactionExpensesWithRelatedParty
1091784 usd
CY2022 mmnd Related Party Transaction Expenses With Related Party
RelatedPartyTransactionExpensesWithRelatedParty
854011 usd
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
100000 usd
CY2023Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
88303 usd
CY2022Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
161640 usd
CY2023Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
0 usd
CY2022Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
73795 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
88303 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
235435 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
51629 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
183431 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
36674 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52004 usd
CY2023 mmnd Depreciation Expences
DepreciationExpences
17258 usd
CY2022 mmnd Depreciation Expences
DepreciationExpences
23144 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-8609 usd
CY2023 mmnd Property Plant And Equipment Disposal
PropertyPlantAndEquipmentDisposal
85403 usd
CY2012Q1 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
2100000 usd
CY2023 mmnd Amortized Lease Expense
AmortizedLeaseExpense
96000 usd
CY2022 mmnd Amortized Lease Expense
AmortizedLeaseExpense
60000 usd
CY2023 mmnd Interest Rate
InterestRate
0.055 pure
CY2020 mmnd Longterm Lease Commitment Period
LongtermLeaseCommitmentPeriod
P10Y
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
461740 usd
CY2023Q3 mmnd Operating Lease Rightofuse Asset Before Accumulated Amortization
OperatingLeaseRightofuseAssetBeforeAccumulatedAmortization
0 usd
CY2022Q3 mmnd Operating Lease Rightofuse Asset Before Accumulated Amortization
OperatingLeaseRightofuseAssetBeforeAccumulatedAmortization
461740 usd
CY2023Q3 mmnd Operating Lease Rightofuse Asset Accumulated Amortization
OperatingLeaseRightofuseAssetAccumulatedAmortization
0 usd
CY2022Q3 mmnd Operating Lease Rightofuse Asset Accumulated Amortization
OperatingLeaseRightofuseAssetAccumulatedAmortization
-307924 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
153816 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
153816 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
114389 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
39427 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
69400 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
15000 usd
CY2022Q1 mmnd Loss Contingency Damages Sought Shares Of Common Stock
LossContingencyDamagesSoughtSharesOfCommonStock
3000000 shares
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0545 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0545 pure
CY2023 mmnd Effective Income Tax Rate Reconciliation Permanent Differences Percent
EffectiveIncomeTaxRateReconciliationPermanentDifferencesPercent
0.0748 pure
CY2022 mmnd Effective Income Tax Rate Reconciliation Permanent Differences Percent
EffectiveIncomeTaxRateReconciliationPermanentDifferencesPercent
-0.1952 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.3393 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0693 pure
CY2023Q3 mmnd Deferred Tax Assets Operating Income Loss Carryforwards
DeferredTaxAssetsOperatingIncomeLossCarryforwards
81723 usd
CY2022Q3 mmnd Deferred Tax Assets Operating Income Loss Carryforwards
DeferredTaxAssetsOperatingIncomeLossCarryforwards
-65116 usd
CY2023Q3 mmnd Deferred Tax Assets Current Liabilities
DeferredTaxAssetsCurrentLiabilities
110030 usd
CY2022Q3 mmnd Deferred Tax Assets Current Liabilities
DeferredTaxAssetsCurrentLiabilities
27589 usd
CY2023Q3 mmnd Deferred Tax Assets Liabilities
DeferredTaxAssetsLiabilities
191753 usd
CY2022Q3 mmnd Deferred Tax Assets Liabilities
DeferredTaxAssetsLiabilities
-37527 usd
CY2023Q3 mmnd Deferred Tax Liabilities Current Assets
DeferredTaxLiabilitiesCurrentAssets
537565 usd
CY2022Q3 mmnd Deferred Tax Liabilities Current Assets
DeferredTaxLiabilitiesCurrentAssets
95112 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
0 usd
CY2022Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
114066 usd
CY2023Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
537565 usd
CY2022Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
209178 usd
CY2023Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
345812 usd
CY2022Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
246705 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
308972 usd
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34505520 shares
CY2021Q1 mmnd Share Issued As Compensation
ShareIssuedAsCompensation
235000 shares
CY2021Q1 mmnd Common Stock Available For Issuence
CommonStockAvailableForIssuence
15000 shares
CY2021Q1 mmnd Common Stock Available For Issuence Amount
CommonStockAvailableForIssuenceAmount
1500 usd
CY2022Q3 mmnd Accrued Share Reversed Shares
AccruedShareReversedShares
225000 shares
CY2022Q3 mmnd Accrued Share Reversed Amount
AccruedShareReversedAmount
22500 usd
CY2023Q3 mmnd Accrued Share Reversed Shares
AccruedShareReversedShares
135000 shares
CY2023Q3 mmnd Accrued Share Reversed Amount
AccruedShareReversedAmount
13500 usd
CY2022Q3 mmnd Share Based Compensation Arrangement By Share Based Payment Award Options Expired Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredNumber
525667 shares

Files In Submission

Name View Source Status
mmnd-20230930_pre.xml Edgar Link unprocessable
mmnd-20230930_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
mmnd-20230930_def.xml Edgar Link unprocessable
0001477932-24-000153-index-headers.html Edgar Link pending
0001477932-24-000153-index.html Edgar Link pending
0001477932-24-000153.txt Edgar Link pending
0001477932-24-000153-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mmnd-20230930.xsd Edgar Link pending
mmnd_10k.htm Edgar Link pending
mmnd_ex311.htm Edgar Link pending
mmnd_ex312.htm Edgar Link pending
mmnd_ex321.htm Edgar Link pending
R1.htm Edgar Link pending
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mmnd_10k_htm.xml Edgar Link completed
R33.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
mmnd-20230930_lab.xml Edgar Link unprocessable