$NICH
NITCHES INC

2023 Q1 Form 10-Q Financial Statement

#000139390523000264 Filed on June 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q3 2022 Q1
Revenue $1.256K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit -$7.469K $4.000K
YoY Change -286.73%
Gross Profit Margin -594.67%
Selling, General & Admin $45.70K $45.20K
YoY Change 1.11%
% of Gross Profit 1130.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $47.02K $45.20K
YoY Change 4.02%
Operating Profit -$54.49K -$41.20K
YoY Change 32.25%
Interest Expense $3.834K $2.637K
YoY Change 45.39%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$281.1K -$41.61K
YoY Change 575.4%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$281.1K -$41.61K
YoY Change 575.4%
Net Earnings / Revenue -22377.39%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 56.76M shares 223.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q3 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $949.00 $71.39K $24.72K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $135.6K $130.6K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $136.5K $201.9K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $6.488K $7.929K
YoY Change
Goodwill
YoY Change
Intangibles $7.560K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $16.36K $15.49K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $136.5K $201.9K
Total Long-Term Assets $16.36K $15.49K
Total Assets $152.9K $217.4K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.92K $12.00K
YoY Change
Accrued Expenses $4.320K $22.00K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $276.6K $34.00K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$30.41M -$30.10M
YoY Change
Common Stock $56.76K $56.76K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $152.9K $217.4K
YoY Change

Cashflow Statement

Concept 2023 Q1 2022 Q3 2022 Q1
OPERATING ACTIVITIES
Net Income -$281.1K -$41.61K
YoY Change 575.4%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
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
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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NITCHES INC.
dei Entity Incorporation State Country Code
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CapitalizedComputerSoftwareAccumulatedAmortization
840 usd
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
9870 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
7560 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1190 usd
CY2023Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
79289 usd
CY2023Q1 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
79289 usd
CY2023Q1 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
79289 usd
CY2023Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
79289 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
2020 Series A Preferred Stock, with one share authorized with a par value of $0.001. This one share effectively controls the Company by representing no less than 60% of all combined votes of Common and Preferred Stock at any time. This one share is also convertible into 100,000,000 shares of common stock at any time
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
105659644 shares
CY2021 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
100000000 shares
CY2021 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
14000000 usd
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.14
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
56759644 shares
CY2021 us-gaap Preferred Stock Contract Terms
PreferredStockContractTerms
Beneficial Conversion Feature of the 2020 Series A Preferred Stock, issued on November 6, 2020. This was evaluated as $5,000,000, based on the conversion terms of one share of preferred stock for 100,000,000 shares of Common Stock and the price of the Common Stock on the date of issue of $0.05 per share
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0000 pure
CY2023Q1 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
194932 usd
us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
38751 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
156181 usd
us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
38751 usd
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
194932 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-38751 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-38751 usd
CY2022Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
30085969 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25359218 usd
CY2022Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25085969 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25359218 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25085969 usd
CY2023Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
12000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
33915 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
45915 usd

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