2022 Q4 Form 10-K Financial Statement

#000149315222027935 Filed on October 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q2 2022
Revenue $43.46K $100.1K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $52.50K $164.7K
YoY Change 79.86% 135.24%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $333.5K $411.1K
YoY Change 1042.55% 487.25%
Operating Profit
YoY Change
Interest Expense $24.99K $12.76K
YoY Change -125.52%
% of Operating Profit
Other Income/Expense, Net $183.0K -$804.8K
YoY Change
Pretax Income -$107.0K -$1.116M
YoY Change 266.63% 829.88%
Income Tax
% Of Pretax Income
Net Earnings -$107.0K -$1.116M
YoY Change 266.62% 829.88%
Net Earnings / Revenue -246.22% -1115.23%
Basic Earnings Per Share -$0.02 -$0.18
Diluted Earnings Per Share -$0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 6.082M shares 6.082M shares
Diluted Shares Outstanding 60.82M shares

Balance Sheet

Concept 2022 Q4 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $970.00
YoY Change -98.34%
Cash & Equivalents $972.00 $35.15K
Short-Term Investments
Other Short-Term Assets $9.890K
YoY Change 443.41%
Inventory
Prepaid Expenses $9.886K $13.85K
Receivables
Other Receivables
Total Short-Term Assets $10.86K $483.6K
YoY Change -81.99% 1209000.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $0.00
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $422.8K
YoY Change
Total Long-Term Assets $422.8K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $10.86K $483.6K
Total Long-Term Assets $422.8K $0.00
Total Assets $433.7K $483.6K
YoY Change 619.18% 1209000.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.51K
YoY Change 63.51%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $250.2K
YoY Change 150.24%
Long-Term Debt Due $2.990K
YoY Change
Total Short-Term Liabilities $277.7K $139.3K
YoY Change 141.54% -33.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $12.76K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $277.7K $139.3K
Total Long-Term Liabilities $0.00 $12.76K
Total Liabilities $277.8K $139.3K
YoY Change 141.54% -33.14%
SHAREHOLDERS EQUITY
Retained Earnings -$19.21M -$19.05M
YoY Change 6.22%
Common Stock $608.00 $608.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $155.9K $344.3K
YoY Change
Total Liabilities & Shareholders Equity $433.7K $483.6K
YoY Change 619.18% 1209000.0%

Cashflow Statement

Concept 2022 Q4 2022 Q2 2022
OPERATING ACTIVITIES
Net Income -$107.0K -$1.116M
YoY Change 266.62% 829.88%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$60.22K -$153.3K
YoY Change 45.04% 155.51%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.290M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $55.68K
YoY Change
Cash From Investing Activities $55.68K -$1.290M
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 0.000 $1.478M
YoY Change -100.0% 2856.73%
NET CHANGE
Cash From Operating Activities -60.22K -$153.3K
Cash From Investing Activities 55.68K -$1.290M
Cash From Financing Activities 0.000 $1.478M
Net Change In Cash -4.540K $35.11K
YoY Change -107.76% -451.07%
FREE CASH FLOW
Cash From Operating Activities -$60.22K -$153.3K
Capital Expenditures $0.00 $1.290M
Free Cash Flow -$60.22K -$1.443M
YoY Change

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CY2022 us-gaap Fiscal Period
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<p id="xdx_840_eus-gaap--FiscalPeriod_zQu1ThsfcVU2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_86F_zdRRVo4E7g2h">Fiscal Year-End</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elected June 30<sup>th</sup> as its fiscal year-end date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zWeJXn3QO7p3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_865_ztgQ0eltnHq5">Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP 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 dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience, and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2019Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
116800 usd
CY2021Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
149838 usd
CY2021Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
77219 usd
CY2022 MVCO Earnings On Liquidity Pools Description
EarningsOnLiquidityPoolsDescription
The Company earns fees by providing liquidity on Uniswap V2 and Uniswap V3. The Company earns fees proportionate to the liquidity they have supplied to the exchange. The fee for each trade is set at 0.05% for stable coins, 0.3% for most pairs and 1.0% for exotic pairs. The fees earned by the Company depends on the risk characteristics of each pair of tokens selected and the price range liquidity is provided. Uniswap V2 requires users to provide liquidity over the entire price curve, whereas Uniswap V3 provides users with the provide liquidity over a price range.
CY2021Q3 MVCO Forgiveness Of Convertible Note Payable Accrued Interest And Advances Related Party
ForgivenessOfConvertibleNotePayableAccruedInterestAndAdvancesRelatedParty
207644 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
259803 usd
CY2021Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
77219 usd
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
259803 usd
CY2022 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
fifty percent (50%)
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
Tax years that remain subject to examination by major tax jurisdictions are generally the prior three (3) years for federal purposes, and the prior four (4) years for state purposes; however, as a result of the Company’s operating losses, all tax years remain subject to examination by tax authorities.
CY2022 MVCO Purchase Of Digital Assets
PurchaseOfDigitalAssets
11615710 usd
CY2022 MVCO Proceeds From Sale Of Digital Assets
ProceedsFromSaleOfDigitalAssets
-10224899 usd
CY2022 MVCO Realized Gain Loss On Sales Exchange Digital Assets
RealizedGainLossOnSalesExchangeDigitalAssets
-804834 usd
CY2022 MVCO Acquired Digital Assets By Airdrop
AcquiredDigitalAssetsByAirdrop
17439 usd
CY2022 MVCO Acquired Digital Assets By Liquidity Pools
AcquiredDigitalAssetsByLiquidityPools
81765 usd
CY2022 MVCO Acquired Digital Assets By Staking Rewards
AcquiredDigitalAssetsByStakingRewards
852 usd
CY2022 MVCO Digital Assets Used To Pay Fees
DigitalAssetsUsedToPayFees
-17749 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
233642 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
434642 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
434642 usd
CY2022Q2 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
434642 usd
CY2021Q3 us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
207644 usd
CY2021Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
149838 usd
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
36441 usd
CY2021Q2 us-gaap Notes Payable Current
NotesPayableCurrent
186279 usd
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P4Y8M15D
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.80 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.30 pure
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
259803 usd
CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
77219 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
259803 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
77219 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
259803 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
77219 usd
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1237200 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.05 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.05 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.16 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.16 pure

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