2023 Q2 Form 10-Q Financial Statement

#000149315223016623 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $30.19K $13.00K $43.46K
YoY Change -67.66%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $79.08K $56.95K $52.50K
YoY Change 63.51% 79.86%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.730K $4.006K
YoY Change
% of Gross Profit
Operating Expenses $79.08K $91.30K $333.5K
YoY Change 162.07% 1042.55%
Operating Profit
YoY Change
Interest Expense $192.9K $24.42K $24.99K
YoY Change -21.81%
% of Operating Profit
Other Income/Expense, Net $0.00 $83.99K $183.0K
YoY Change 68.13%
Pretax Income -$413.2K $5.690K -$107.0K
YoY Change -137.0% 266.63%
Income Tax
% Of Pretax Income
Net Earnings -$413.2K $5.692K -$107.0K
YoY Change -137.01% 266.62%
Net Earnings / Revenue -1368.7% 43.77% -246.22%
Basic Earnings Per Share $0.00 -$0.02
Diluted Earnings Per Share -$0.01 $0.00 -$0.02
COMMON SHARES
Basic Shares Outstanding 6.082M shares 6.082M shares 6.082M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.69K $104.8K $970.00
YoY Change -78.89% -98.34%
Cash & Equivalents $17.09K $104.8K $972.00
Short-Term Investments $600.00
Other Short-Term Assets $8.600K $8.030K $9.890K
YoY Change -98.95% 443.41%
Inventory $7.788K
Prepaid Expenses $8.602K $8.029K $9.886K
Receivables
Other Receivables
Total Short-Term Assets $34.08K $112.8K $10.86K
YoY Change -92.95% -91.05% -81.99%
LONG-TERM ASSETS
Property, Plant & Equipment $66.62K $68.09K
YoY Change
Goodwill $0.00
YoY Change
Intangibles $41.40K
YoY Change
Long-Term Investments
YoY Change
Other Assets $194.2K $275.6K $422.8K
YoY Change
Total Long-Term Assets $302.2K $343.7K $422.8K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $34.08K $112.8K $10.86K
Total Long-Term Assets $302.2K $343.7K $422.8K
Total Assets $336.3K $456.6K $433.7K
YoY Change -30.46% -63.77% 619.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.16K $29.15K $24.51K
YoY Change 4.41% 63.51%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $164.1K $261.7K $250.2K
YoY Change 158.32% 150.24%
Long-Term Debt Due $4.140K $2.990K
YoY Change
Total Short-Term Liabilities $222.3K $294.9K $277.7K
YoY Change 59.56% 128.26% 141.54%
LONG-TERM LIABILITIES
Long-Term Debt $107.6K $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $107.6K $0.00 $0.00
YoY Change 743.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $222.3K $294.9K $277.7K
Total Long-Term Liabilities $107.6K $0.00 $0.00
Total Liabilities $329.9K $294.9K $277.8K
YoY Change 136.83% 128.26% 141.54%
SHAREHOLDERS EQUITY
Retained Earnings -$19.62M -$19.21M -$19.21M
YoY Change 3.01%
Common Stock $6.632K $608.00 $608.00
YoY Change 990.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.401K $161.6K $155.9K
YoY Change
Total Liabilities & Shareholders Equity $336.3K $456.6K $433.7K
YoY Change -30.46% -63.77% 619.18%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$413.2K $5.692K -$107.0K
YoY Change -137.01% 266.62%
Depreciation, Depletion And Amortization $6.730K $4.006K
YoY Change
Cash From Operating Activities -$33.79K -$41.35K -$60.22K
YoY Change 82.64% 45.04%
INVESTING ACTIVITIES
Capital Expenditures $7.160K $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$760.00 $154.2K $55.68K
YoY Change
Cash From Investing Activities -$7.920K $154.2K $55.68K
YoY Change -124.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.00K -9.000K 0.000
YoY Change -100.82% -100.0%
NET CHANGE
Cash From Operating Activities -33.79K -41.35K -60.22K
Cash From Investing Activities -7.920K 154.2K 55.68K
Cash From Financing Activities -46.00K -9.000K 0.000
Net Change In Cash -87.71K 103.8K -4.540K
YoY Change -76.3% -107.76%
FREE CASH FLOW
Cash From Operating Activities -$33.79K -$41.35K -$60.22K
Capital Expenditures $7.160K $0.00 $0.00
Free Cash Flow -$40.95K -$41.35K -$60.22K
YoY Change -106.71%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
104800 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
496527 usd
us-gaap Interest Paid Net
InterestPaidNet
9010 usd
MVCO Purchase Of Digital Assets Held With Convertible Promissory Notes Related Party
PurchaseOfDigitalAssetsHeldWithConvertiblePromissoryNotesRelatedParty
100860 usd
MVCO Purchase Of Digital Assets Held With Other Digital Assets
PurchaseOfDigitalAssetsHeldWithOtherDigitalAssets
6186568 usd
MVCO Purchase Of Digital Assets Held With Other Digital Assets
PurchaseOfDigitalAssetsHeldWithOtherDigitalAssets
1372374 usd
MVCO Proceeds From Sale Of Digital Assets For Other Digital Assets
ProceedsFromSaleOfDigitalAssetsForOtherDigitalAssets
5995397 usd
MVCO Proceeds From Sale Of Digital Assets For Other Digital Assets
ProceedsFromSaleOfDigitalAssetsForOtherDigitalAssets
1271514 usd
MVCO Intrinsic Value Of Embedded Beneficial Conversion Option On Convertible Note Payable
IntrinsicValueOfEmbeddedBeneficialConversionOptionOnConvertibleNotePayable
40000 usd
MVCO Intrinsic Value Of Embedded Beneficial Conversion Option On Convertible Note Payable
IntrinsicValueOfEmbeddedBeneficialConversionOptionOnConvertibleNotePayable
100860 usd
MVCO Equipment Paid With Digital Assets
EquipmentPaidWithDigitalAssets
72095 usd
MVCO Warrants Issued In Conjunction With Promissory Note
WarrantsIssuedInConjunctionWithPromissoryNote
7916 usd
us-gaap Stock Issued1
StockIssued1
9000 usd
MVCO Forgiveness Of Convertible Note Payable Accrued Interest And Advances Related Party
ForgivenessOfConvertibleNotePayableAccruedInterestAndAdvancesRelatedParty
207644 usd
CY2021Q3 MVCO Percentage Of Stock Issued
PercentageOfStockIssued
0.697 pure
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
us-gaap Net Income Loss
NetIncomeLoss
-159634 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-165074 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19205836 usd
us-gaap Fiscal Period
FiscalPeriod
<p id="xdx_845_eus-gaap--FiscalPeriod_znLcWK9hJbne" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_866_zyLKTFkAW4Bf">Fiscal Year-End</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elected June 30 as its fiscal year-end date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_z3I0RwW2ALc5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_86B_ztTJe7sT5pKk">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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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 depend 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 liquidity over a price range
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
Tax years that remain subject to examination by major tax jurisdictions are generally the prior three years for federal purposes, and the prior four years for state purposes; however, as a result of the Company’s operating losses, all tax years remain subject to examination by tax authorities
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50%
CY2023Q1 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
275632 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
72095 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4006 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
68089 usd
CY2022Q3 us-gaap Deposit Assets
DepositAssets
72095 usd
CY2023Q1 us-gaap Depreciation
Depreciation
4006 usd
CY2022Q1 us-gaap Depreciation
Depreciation
0 usd
us-gaap Depreciation
Depreciation
4006 usd
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
20000 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.75
CY2022Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P3Y
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P3Y11M12D
CY2022Q3 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
10-for-1 forward stock

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0001493152-23-016623.txt Edgar Link pending
0001493152-23-016623-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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mvco-20230331.xsd Edgar Link pending
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mvco-20230331_cal.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed