$NICH
NITCHES INC

2023 Q4 Form 10-Q Financial Statement

#000139390524000018 Filed on January 18, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2022 Q4
Revenue $0.00 $1.750K
YoY Change -100.0%
Cost Of Revenue -$2.140K
YoY Change
Gross Profit $2.140K $1.648K
YoY Change 29.85%
Gross Profit Margin 94.17%
Selling, General & Admin $70.58K $95.73K
YoY Change -26.28%
% of Gross Profit 3297.9% 5808.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $721.00
YoY Change
% of Gross Profit 33.69%
Operating Expenses $71.89K $97.05K
YoY Change -25.92%
Operating Profit -$69.75K -$95.40K
YoY Change -26.88%
Interest Expense $15.75K $5.570K
YoY Change 182.71%
% of Operating Profit
Other Income/Expense, Net -$381.6K
YoY Change
Pretax Income -$198.0K -$248.4K
YoY Change -20.28%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$198.0K -$248.4K
YoY Change -20.28%
Net Earnings / Revenue -14192.57%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 553.3M shares 109.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.870K
YoY Change
Cash & Equivalents $7.873K $3.972K
Short-Term Investments
Other Short-Term Assets $2.000K
YoY Change
Inventory $135.0K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $144.9K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.329K
YoY Change
Goodwill
YoY Change
Intangibles $52.19K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $56.51K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $144.9K
Total Long-Term Assets $56.51K
Total Assets $201.4K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.036K
YoY Change
Accrued Expenses $4.820K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $169.5K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $756.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $756.0K
Total Long-Term Liabilities $0.00
Total Liabilities $756.0K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$31.12M
YoY Change
Common Stock $343.8K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$554.6K
YoY Change
Total Liabilities & Shareholders Equity $201.4K
YoY Change

Cashflow Statement

Concept 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income -$198.0K -$248.4K
YoY Change -20.28%
Depreciation, Depletion And Amortization $721.00
YoY Change
Cash From Operating Activities -$67.14K -$123.4K
YoY Change -45.59%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$23.10K -$3.500K
YoY Change 560.0%
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 $59.46K
YoY Change 64.43%
NET CHANGE
Cash From Operating Activities -$67.14K -$123.4K
Cash From Investing Activities -$23.10K -$3.500K
Cash From Financing Activities $97.77K $59.46K
Net Change In Cash $7.530K -$67.42K
YoY Change -111.17%
FREE CASH FLOW
Cash From Operating Activities -$67.14K -$123.4K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$67.14K -$123.4K
YoY Change -45.59%

Facts In Submission

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CY2023Q4 dei Document Period End Date
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CY2023Q4 dei Entity File Number
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CY2023Q4 dei Entity Registrant Name
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NITCHES INC.
CY2023Q4 dei Entity Incorporation State Country Code
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NV
CY2023Q4 dei Entity Tax Identification Number
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CY2023Q4 dei Entity Address Address Line1
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<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>
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AccountsPayableOtherCurrentAndNoncurrent
272118 usd
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
272118 usd
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022 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
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
56759644 shares
CY2022 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
100000000 shares
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
14000000 usd
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.14
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
343759644 shares
CY2022 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
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
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
384524 usd
CY2023Q4 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
312317 usd
CY2023Q4 us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
115182 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
581659 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
30921951 usd
CY2023Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023Q4 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0000 pure
CY2022Q4 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0000 pure
CY2023Q4 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2100 pure
CY2022Q4 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2100 pure
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25541330 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25540463 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25541330 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25540463 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
12000 usd
CY2023Q4 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
33915 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
45931 usd
CY2023Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
223000000 shares

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