2021 Form 10-K Financial Statement

#000164033421002660 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 2020 Q3 2020
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $43.80K $127.6K $162.4K
YoY Change -73.03% 403.35% 109.26%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $43.80K $127.6K $162.4K
YoY Change -73.04% 403.35% 109.26%
Operating Profit -$43.80K -$162.4K
YoY Change -73.04% 109.26%
Interest Expense $60.00K -$14.50K $35.39K
YoY Change 69.53% -79.46% 41.56%
% of Operating Profit
Other Income/Expense, Net -$60.00K -$197.6K
YoY Change -69.63% -29.48%
Pretax Income -$103.8K -$142.1K -$360.0K
YoY Change -71.17% 48.07% 0.62%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$103.8K -$142.1K -$360.0K
YoY Change -71.17% 48.07% -64.62%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$176.7K -$1.781K -$564.0K
COMMON SHARES
Basic Shares Outstanding 73.43M shares 79.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 2020 Q3 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $670.00 $1.030K $1.030K
YoY Change -34.95% -44.32% -44.32%
Cash & Equivalents $1.025K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $670.00 $1.025K $1.030K
YoY Change -34.95% -44.59% -44.32%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $670.00 $1.025K $1.030K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $670.00 $1.025K $1.030K
YoY Change -34.95% -44.59% -44.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.98K $72.58K $72.58K
YoY Change 3.31% 21.82% 21.82%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $628.7K $568.7K $568.7K
YoY Change 10.55% 53.24% 53.24%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $957.5K $854.1K $854.1K
YoY Change 12.11% 38.9% 38.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $957.5K $854.1K $854.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $957.5K $854.1K $854.1K
YoY Change 12.11% 38.9% 38.9%
SHAREHOLDERS EQUITY
Retained Earnings -$12.71M
YoY Change 2.91%
Common Stock $11.74M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$956.8K -$853.0K -$853.0K
YoY Change
Total Liabilities & Shareholders Equity $670.00 $1.025K $1.030K
YoY Change -34.95% -44.59% -44.32%

Cashflow Statement

Concept 2021 2020 Q3 2020
OPERATING ACTIVITIES
Net Income -$103.8K -$142.1K -$360.0K
YoY Change -71.17% 48.07% -64.62%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$360.00 -$90.00 -$825.00
YoY Change -56.36% -64.0% -98.42%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities -$360.00 -90.00 -$825.00
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash -$360.00 -90.00 -$825.00
YoY Change -56.36% -64.0% -98.42%
FREE CASH FLOW
Cash From Operating Activities -$360.00 -$90.00 -$825.00
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021 us-gaap Nature Of Operations
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS</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; text-align:justify;">iMine Corporation (the “Company”) is a Nevada corporation incorporated on October 26, 2010 under the name Oconn Industries Corp. The Company’s name was changed on March 11, 2014 from Oconn Industries Corp. to Diamante Minerals, Inc. and to iMine Corporation on March 20, 2018. The change of name to iMine Corporation was effective through the merger of the Company’s wholly owned subsidiary, iMine Corporation, into the Company. The Company has one subsidiary, iMine Corporation, an Indiana corporation, which has been administratively dissolved.</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; text-align:justify;">During 2018, the Company was engaged in the development of the business of selling computer equipment which can be used for the mining of cryptocurrency. As a result of the decline in the price of cryptocurrency, which made the purchase of its equipment uneconomical, the Company has discontinued that business, which is reflected as a discontinued operation, and the value of the prepaid inventory, which was the only asset of the discontinued operation was fully reserved against. The Company is not engaged in any business activities and is looking to engage in another business, either through an acquisition of an existing business or by engaging a management team to develop a new business. The Company does not have any agreement to acquire any company or to bring on a management team to commence new business activities. The Company cannot give assurance that it will be successful in attracting either an acquisition candidate or a new management team. Any business the Company may acquire may be an operating business or a business with no history of earnings that is seeking to develop its business. Because of the Company’s financial condition and the market for and market price of its common stock, the Company does not believe that it would be an attractive candidate for a profitable business that is looking to go public through a reverse acquisition.</p>
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<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; text-align:justify;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the SEC include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p>
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