2023 Q4 Form 10-K Financial Statement

#000139390523000404 Filed on December 07, 2023

View on sec.gov

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%

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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

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