2023 Q4 Form 10-K Financial Statement
#000139390523000404 Filed on December 07, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 | 2023 |
---|---|---|---|
Revenue | $0.00 | $380.00 | $4.224K |
YoY Change | -100.0% | 494.93% | |
Cost Of Revenue | -$2.140K | $7.180K | $21.35K |
YoY Change | 299.07% | ||
Gross Profit | $2.140K | -$6.800K | -$10.34K |
YoY Change | 29.85% | -343.97% | |
Gross Profit Margin | -1789.47% | -244.72% | |
Selling, General & Admin | $70.58K | $69.89K | $420.8K |
YoY Change | -26.28% | -49.43% | |
% of Gross Profit | 3297.9% | ||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $721.00 | $1.310K | $2.879K |
YoY Change | 84.55% | ||
% of Gross Profit | 33.69% | ||
Operating Expenses | $71.89K | $71.20K | $426.1K |
YoY Change | -25.92% | -48.9% | |
Operating Profit | -$69.75K | -$78.00K | -$443.2K |
YoY Change | -26.88% | -47.14% | |
Interest Expense | $15.75K | -$279.6K | $18.65K |
YoY Change | 182.71% | -407.99% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$381.6K | -$45.61K | -$128.1K |
YoY Change | |||
Pretax Income | -$198.0K | -$403.2K | -$827.0K |
YoY Change | -20.28% | -0.85% | |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$198.0K | -$403.2K | -$827.0K |
YoY Change | -20.28% | -2.81% | |
Net Earnings / Revenue | -106113.16% | -19579.02% | |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 553.3M shares | 194.6M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $7.870K | $340.00 | $340.00 |
YoY Change | -99.52% | ||
Cash & Equivalents | $7.873K | $344.00 | |
Short-Term Investments | |||
Other Short-Term Assets | $2.000K | $8.500K | $8.500K |
YoY Change | |||
Inventory | $135.0K | $135.0K | $135.0K |
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $144.9K | $143.9K | $143.9K |
YoY Change | -28.75% | -28.76% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.329K | $5.050K | $5.050K |
YoY Change | -36.31% | -36.32% | |
Goodwill | |||
YoY Change | |||
Intangibles | $52.19K | $29.68K | |
YoY Change | 292.59% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $56.51K | $34.73K | $34.73K |
YoY Change | 124.22% | 124.21% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $144.9K | $143.9K | $143.9K |
Total Long-Term Assets | $56.51K | $34.73K | $34.73K |
Total Assets | $201.4K | $178.6K | $178.6K |
YoY Change | -17.86% | -17.86% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.036K | $3.036K | |
YoY Change | -74.7% | ||
Accrued Expenses | $4.820K | $10.02K | $10.02K |
YoY Change | -54.45% | -54.45% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $169.5K | $140.7K | $140.7K |
YoY Change | 1072.08% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $756.0K | $535.2K | $535.2K |
YoY Change | 1474.09% | ||
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 | $756.0K | $535.2K | $535.2K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $756.0K | $535.2K | $535.2K |
YoY Change | 1474.09% | 1474.09% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$31.12M | -$30.92M | |
YoY Change | 2.75% | ||
Common Stock | $343.8K | $343.8K | |
YoY Change | 505.65% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$554.6K | -$356.6K | -$356.6K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $201.4K | $178.6K | $178.6K |
YoY Change | -17.86% | -17.86% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$198.0K | -$403.2K | -$827.0K |
YoY Change | -20.28% | -2.81% | |
Depreciation, Depletion And Amortization | $721.00 | $1.310K | $2.879K |
YoY Change | 84.55% | ||
Cash From Operating Activities | -$67.14K | -$44.96K | -$462.9K |
YoY Change | -45.59% | -4.15% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $6.000K | $0.00 |
YoY Change | -100.0% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$23.10K | -$6.000K | -$24.50K |
YoY Change | 560.0% | 43.7% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $97.77K | 38.71K | $416.4K |
YoY Change | 64.43% | -26.96% | |
NET CHANGE | |||
Cash From Operating Activities | -$67.14K | -44.96K | -$462.9K |
Cash From Investing Activities | -$23.10K | -6.000K | -$24.50K |
Cash From Financing Activities | $97.77K | 38.71K | $416.4K |
Net Change In Cash | $7.530K | -12.25K | -$71.05K |
YoY Change | -111.17% | -201.44% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$67.14K | -$44.96K | -$462.9K |
Capital Expenditures | $0.00 | $6.000K | $0.00 |
Free Cash Flow | -$67.14K | -$50.96K | -$462.9K |
YoY Change | -45.59% | -5.79% |
Facts In Submission
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10-K | |
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2023-08-31 | |
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false | |
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Entity File Number
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000-13851 | |
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Entity Registrant Name
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NITCHES INC. | |
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Entity Incorporation State Country Code
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NV | |
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Entity Tax Identification Number
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95-2848021 | |
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1333 N. Buffalo Dr. | |
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Unit 210 | |
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Las Vegas | |
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NV | |
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89128 | |
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858 | |
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625-2633 | |
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OLAYINKA OYEBOLA & CO. | |
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Lagos Nigeria | |
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1555 | usd |
CY2022 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
1807 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
8500 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
0 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
4480 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
130550 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
|
-11980 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
|
-24800 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-462901 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-482951 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
8400 | usd |
CY2023 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
24500 | usd |
CY2022 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
8649 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-24500 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-17049 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
287000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
701400 | usd |
CY2023 | us-gaap |
Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
|
-158521 | usd |
CY2022 | us-gaap |
Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
|
141555 | usd |
CY2023 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-8964 | usd |
CY2022 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
12000 | usd |
CY2023 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
20204 | usd |
CY2022 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
1807 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
416353 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
570038 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-71048 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
70038 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71392 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1354 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
344 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71392 | usd |
CY2023 | us-gaap |
Interest Paid
InterestPaid
|
0 | usd |
CY2022 | us-gaap |
Interest Paid
InterestPaid
|
16834 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font:10pt Times New Roman;margin:0;text-align:justify"><b>Use of Estimates</b></p> <p style="font:10pt Times New Roman;margin:0;text-align:justify">The preparation of financial statements in conformity with generally accepted accounting principles 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 amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> | |
CY2023Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
0 | usd |
CY2023Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
135030 | usd |
CY2023Q3 | us-gaap |
Inventory Net
InventoryNet
|
135030 | usd |
CY2023Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-30924986 | usd |
CY2023Q3 | fil |
Working Capital Deficit
WorkingCapitalDeficit
|
-391316 | usd |
CY2023Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
8500 | usd |
CY2022Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
0 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
8649 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
8649 | usd |
CY2023Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3599 | usd |
CY2022Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
720 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5050 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7929 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
2879 | usd |
CY2023Q3 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
11900 | usd |
CY2022Q3 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
8400 | usd |
CY2023Q3 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
21000 | usd |
CY2022Q3 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
0 | usd |
CY2023Q3 | us-gaap |
Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
|
3220 | usd |
CY2022Q3 | us-gaap |
Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
|
840 | usd |
CY2023Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
29680 | usd |
CY2022Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
7560 | usd |
CY2023Q3 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
|
158371 | usd |
CY2023Q3 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
|
158371 | usd |
CY2023Q3 | us-gaap |
Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
|
158371 | usd |
CY2023Q3 | us-gaap |
Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
|
158371 | usd |
CY2023Q3 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
|
158371 | usd |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1 | shares |
CY2023Q3 | 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 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
1 | shares |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
750000000 | shares |
CY2023Q3 | 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 | |
CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
343759644 | 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 | |
CY2022Q3 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
30921950 | usd |
CY2023Q3 | us-gaap |
Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
|
384524 | usd |
CY2023 | us-gaap |
Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
|
222277 | usd |
CY2023 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
606801 | usd |
CY2023 | us-gaap |
Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
|
222277 | usd |
CY2023Q3 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
384524 | usd |
CY2023 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
222277 | usd |
CY2023 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
222277 | usd |
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
|
0.0000 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0000 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.2100 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.2100 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0000 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0000 | pure |
CY2023Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
25540462 | usd |
CY2022Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
25097969 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
25540462 | usd |
CY2022Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
25097969 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2022Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2022 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
12000 | usd |
CY2023 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
33915 | usd |
CY2023Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
45931 | usd |