$NICH
NITCHES INC

2024 Q2 Form 10-Q Financial Statement

#000139390524000251 Filed on July 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2
Revenue $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit -$500.00
YoY Change -88.93%
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $92.39K
YoY Change -56.17%
Operating Profit -$92.89K
YoY Change -56.86%
Interest Expense -$22.41K
YoY Change -751.07%
% of Operating Profit
Other Income/Expense, Net $3.000K
YoY Change -103.65%
Pretax Income $159.8K
YoY Change -162.89%
Income Tax
% Of Pretax Income
Net Earnings $159.8K
YoY Change -162.89%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 959.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $36.49K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $151.5K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $190.0K
YoY Change 4.32%
LONG-TERM ASSETS
Property, Plant & Equipment $2.889K
YoY Change -49.92%
Goodwill
YoY Change
Intangibles $68.15K
YoY Change 180.72%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $71.03K
YoY Change 136.43%
TOTAL ASSETS
Total Short-Term Assets $190.0K
Total Long-Term Assets $71.03K
Total Assets $261.1K
YoY Change 23.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.032K
YoY Change 192.66%
Accrued Expenses $2.500K
YoY Change -42.13%
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 $1.580M
YoY Change 765.31%
SHAREHOLDERS EQUITY
Retained Earnings -$32.52M
YoY Change 6.55%
Common Stock $959.5K
YoY Change 193.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $261.1K
YoY Change 23.03%

Cashflow Statement

Concept 2024 Q2
OPERATING ACTIVITIES
Net Income $159.8K
YoY Change -162.89%
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

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--08-31
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-05-31
dei Document Transition Report
DocumentTransitionReport
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
EntityAddressStateOrProvince
NV
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
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
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true
dei Entity Ex Transition Period
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dei Entity Shell Company
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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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CY2024Q2 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
61250 usd
CY2023Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
21000 usd
CY2024Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
5005 usd
CY2023Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
3220 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
68145 usd
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
29680 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1784 usd
CY2024Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
444816 usd
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
158371 usd
CY2024Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
444816 usd
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
158371 usd
CY2024Q2 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
444816 usd
CY2023Q3 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
158731 usd
CY2024Q2 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
444816 usd
CY2024Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
444816 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000001 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
56759644 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
959509644 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
1129571 usd
CY2023 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
606801 usd
us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
210350 usd
CY2023 us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
222277 usd
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1303745 usd
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
384524 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
210352 usd
CY2023 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
222277 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
30921949 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
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
26216950 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25540461 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26216950 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25540461 usd
CY2024Q2 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

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