$NICH
NITCHES INC

2024 Q2 Form 10-Q Financial Statement

#000139390524000147 Filed on April 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $4.830K
YoY Change -100.0% 284.55%
Cost Of Revenue $1.680K
YoY Change
Gross Profit -$500.00 $3.146K
YoY Change -88.93% -142.12%
Gross Profit Margin 65.13%
Selling, General & Admin -$144.6K
YoY Change -416.43%
% of Gross Profit -4596.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.310K
YoY Change
% of Gross Profit 41.64%
Operating Expenses $92.39K -$143.3K
YoY Change -56.17% -404.78%
Operating Profit -$92.89K $146.4K
YoY Change -56.86% -368.77%
Interest Expense -$22.41K -$12.99K
YoY Change -751.07% -438.91%
% of Operating Profit -8.87%
Other Income/Expense, Net $3.000K -$138.1K
YoY Change -103.65%
Pretax Income $159.8K -$1.769M
YoY Change -162.89% 529.49%
Income Tax
% Of Pretax Income
Net Earnings $159.8K -$1.769M
YoY Change -162.89% 529.49%
Net Earnings / Revenue -36630.08%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 959.5M shares 676.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.220K
YoY Change
Cash & Equivalents $36.49K $7.219K
Short-Term Investments
Other Short-Term Assets $2.000K
YoY Change
Inventory $151.5K $135.0K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $190.0K $144.2K
YoY Change 4.32% 5.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.889K $3.609K
YoY Change -49.92% -44.37%
Goodwill
YoY Change
Intangibles $68.15K $64.74K
YoY Change 180.72%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $71.03K $68.35K
YoY Change 136.43% 317.83%
TOTAL ASSETS
Total Short-Term Assets $190.0K $144.2K
Total Long-Term Assets $71.03K $68.35K
Total Assets $261.1K $212.6K
YoY Change 23.03% 39.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.032K $3.036K
YoY Change 192.66% -93.39%
Accrued Expenses $2.500K $4.820K
YoY Change -42.13% 11.57%
Deferred Revenue
YoY Change
Short-Term Debt $115.2K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.936M
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 $1.936M
Total Long-Term Liabilities $0.00
Total Liabilities $1.580M $1.936M
YoY Change 765.31% 599.94%
SHAREHOLDERS EQUITY
Retained Earnings -$32.52M -$32.68M
YoY Change 6.55% 7.48%
Common Stock $959.5K $714.5K
YoY Change 193.64% 1158.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.723M
YoY Change
Total Liabilities & Shareholders Equity $261.1K $212.6K
YoY Change 23.03% 39.08%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $159.8K -$1.769M
YoY Change -162.89% 529.49%
Depreciation, Depletion And Amortization $1.310K
YoY Change
Cash From Operating Activities $147.8K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $13.15K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$13.15K
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 -135.3K
YoY Change
NET CHANGE
Cash From Operating Activities 147.8K
Cash From Investing Activities -13.15K
Cash From Financing Activities -135.3K
Net Change In Cash -650.0
YoY Change
FREE CASH FLOW
Cash From Operating Activities $147.8K
Capital Expenditures $13.15K
Free Cash Flow $134.6K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
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true
dei Document Period End Date
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2024-02-29
dei Document Transition Report
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false
dei Entity File Number
EntityFileNumber
000-13851
dei Entity Registrant Name
EntityRegistrantName
NITCHES INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
95-2848021
dei Entity Address Address Line1
EntityAddressAddressLine1
1333 N. Buffalo Dr.
dei Entity Address Address Line2
EntityAddressAddressLine2
Unit 210
dei Entity Address City Or Town
EntityAddressCityOrTown
Las Vegas
dei Entity Address State Or Province
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dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
89128
dei City Area Code
CityAreaCode
678
dei Local Phone Number
LocalPhoneNumber
999-6242
dei Entity Current Reporting Status
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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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CY2024Q1 fil Working Capital Deficit
WorkingCapitalDeficit
-1791715 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2000 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8500 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8649 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8649 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5040 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3599 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3609 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5050 usd
us-gaap Depreciation
Depreciation
1441 usd
CY2024Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
57250 usd
CY2023Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
21000 usd
CY2024Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
4410 usd
CY2023Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
3220 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
64740 usd
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
29680 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1190 usd
CY2024Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
305737 usd
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
158371 usd
CY2024Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
305737 usd
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
158371 usd
CY2024Q1 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
305737 usd
CY2023Q3 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
158731 usd
CY2024Q1 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
305737 usd
CY2024Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
305737 usd
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1 shares
CY2024Q1 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
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1 shares
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
56759644 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
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
714509644 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
CY2023 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
606801 usd
CY2023 us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
222277 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
758900 usd
CY2023 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
606801 usd
us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
672574 usd
CY2023 us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
222277 usd
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1815998 usd
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
384524 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-672572 usd
CY2023 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
222277 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
30885790 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25864518 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25540461 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25864518 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25540461 usd
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q3 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
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
45931 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
3036 usd
CY2024Q2 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
24488 usd
CY2024Q2 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
245000000 shares
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares

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