2021 Q4 Form 10-Q Financial Statement
#000121465921011449 Filed on November 12, 2021
Income Statement
| Concept | 2021 Q4 | 2021 Q3 | 2020 Q4 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Gross Profit | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $486.6K | $72.70K | $71.23K |
| YoY Change | 583.18% | -17.68% | |
| % of Gross Profit | |||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $15.00K | $50.00 | $20.00 |
| YoY Change | 74900.0% | -90.91% | |
| % of Gross Profit | |||
| Operating Expenses | $486.6K | $72.70K | $71.24K |
| YoY Change | 583.1% | -17.68% | |
| Operating Profit | -$486.6K | -$72.70K | -$71.24K |
| YoY Change | 583.1% | -17.68% | |
| Interest Expense | -$130.0K | $130.0K | -$130.0K |
| YoY Change | 0.0% | 0.0% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | -$615.9K | -$202.7K | $5.099M |
| YoY Change | -112.08% | -3.73% | |
| Income Tax | $0.00 | $0.00 | |
| % Of Pretax Income | |||
| Net Earnings | -$615.9K | -$202.7K | $5.099M |
| YoY Change | -112.08% | -3.73% | |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$34.66K | -$23.10K | $581.1K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 20.54M shares | 8.774M shares | |
| Diluted Shares Outstanding | 8.774M shares |
Balance Sheet
| Concept | 2021 Q4 | 2021 Q3 | 2020 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $21.68K | $6.390K | $5.970K |
| YoY Change | 263.15% | 11.91% | 8.35% |
| Cash & Equivalents | $0.00 | $6.393K | $5.967K |
| Short-Term Investments | |||
| Other Short-Term Assets | $19.83K | $100.0K | $100.0K |
| YoY Change | -80.17% | 0.0% | 0.0% |
| Inventory | |||
| Prepaid Expenses | $19.83K | $100.0K | $100.0K |
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $41.51K | $106.4K | $106.0K |
| YoY Change | -60.83% | 0.64% | 0.43% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $2.631K | $450.00 | $599.00 |
| YoY Change | 339.23% | 36.14% | |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $0.00 | ||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $78.15K | $450.00 | $599.00 |
| YoY Change | 12947.25% | 36.14% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $41.51K | $106.4K | $106.0K |
| Total Long-Term Assets | $78.15K | $450.00 | $599.00 |
| Total Assets | $119.7K | $106.8K | $106.6K |
| YoY Change | 12.29% | 1.07% | 0.58% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.597M | $4.861M | $4.262M |
| YoY Change | -39.06% | 11.51% | -11.16% |
| Accrued Expenses | $44.96K | ||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $2.973M | $2.973M | $2.973M |
| YoY Change | 0.0% | 0.0% | 0.73% |
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $5.615M | $7.835M | $7.235M |
| YoY Change | -22.38% | -36.47% | -43.25% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $645.0K | $645.0K | $645.0K |
| YoY Change | 0.0% | 0.0% | |
| Other Long-Term Liabilities | $30.56K | ||
| YoY Change | |||
| Total Long-Term Liabilities | $675.6K | $645.0K | $645.0K |
| YoY Change | 4.74% | 0.0% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $5.615M | $7.835M | $7.235M |
| Total Long-Term Liabilities | $675.6K | $645.0K | $645.0K |
| Total Liabilities | $6.291M | $8.480M | $7.880M |
| YoY Change | -20.16% | -34.66% | -38.19% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$138.5M | -$133.7M | |
| YoY Change | 3.56% | ||
| Common Stock | $130.6M | $124.2M | |
| YoY Change | 5.12% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$6.171M | -$8.373M | -$7.773M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $119.7K | $106.8K | $106.6K |
| YoY Change | 12.29% | 1.07% | 0.58% |
Cashflow Statement
| Concept | 2021 Q4 | 2021 Q3 | 2020 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$615.9K | -$202.7K | $5.099M |
| YoY Change | -112.08% | -3.73% | |
| Depreciation, Depletion And Amortization | $15.00K | $50.00 | $20.00 |
| YoY Change | 74900.0% | -90.91% | |
| Cash From Operating Activities | -$120.8K | -$320.4K | $620.00 |
| YoY Change | -19585.48% | -1601850.0% | -103.21% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$2.420K | -$620.00 | |
| YoY Change | 290.32% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$2.420K | -$620.00 | |
| YoY Change | 290.32% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 138.6K | 320.5K | 0.000 |
| YoY Change | -100.0% | ||
| NET CHANGE | |||
| Cash From Operating Activities | -120.8K | -320.4K | 620.0 |
| Cash From Investing Activities | -2.420K | -620.0 | |
| Cash From Financing Activities | 138.6K | 320.5K | 0.000 |
| Net Change In Cash | 15.34K | 160.0 | -0.00000000004604 |
| YoY Change | -33316559743375600.0% | 700.0% | -100.0% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$120.8K | -$320.4K | $620.00 |
| Capital Expenditures | -$2.420K | -$620.00 | |
| Free Cash Flow | -$118.4K | $1.240K | |
| YoY Change | -9647.58% |
Facts In Submission
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2021 | ||
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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">NOTE 1.</span><span style="font-weight:bold; padding-left:32.84pt; ">ORGANIZATION AND PRINCIPAL ACTIVITIES</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">Network CN Inc. was originally incorporated on September 10, 1993 in Delaware with headquarters in the Hong Kong Special Administrative Region of the People’s Republic of China (“PRC” or “China”). Since August 2006, the Company has been principally engaged in the provision of out-of-home advertising in China through the operation of a network of roadside LED digital video panels, mega-size LED digital video billboards and light boxes in major cities.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">Details of the Company’s principal subsidiaries and variable interest entities as of September 30, 2021, are described in Note 3 – Subsidiaries and Variable Interest Entities.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "><span style="font-weight:bold; ">Identification of New projects</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">On January 14, 2020, the Company entered into a Letter of Intent with Earthasia Worldwide Holdings Limited (“EWHL”) that the Company will acquire 100% of the EWHL’s issued and outstanding stock owned by the shareholders of the EWHL and the EWHL will become a wholly owned subsidiary of the Company.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">On July 23, 2020, the Company entered into Share Exchange Agreement with Ease Global Limited (“Ease Global”), the shareholder of Trade More Global Limited (‘Trade More”) that the Company will purchase, One Thousand and One Hundred (1,100) currently issued shares of common stock of Trade More from Ease Global and in exchange for Forty-nine Million (49,000,000) shares of newly-issued shares of common stock of the Company. The closing of the Exchange shall occur on other date as agreed by the parties of the Share Exchange Agreement. Upon completion of the Exchange, 78% of issued shares of common stock of the Company shall be held by the Ease Global while all of the shares of capital stock of Trade More shall be held by the Company. EWHL is a wholly owned subsidiary of Trade More.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">The closing of Exchange was not completed on September 2, 2020 and was postponed due to the progress of audit. Due to the delay of completion, the Company will re-evaluate the acquisition until Ease Global can fulfill the revenue target and the internal controls over financial reporting required by the SEC. The Company will proceed to negotiate and seek approval from the board of directors and shareholders for the new share exchange terms and conditions.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "><span style="font-weight:bold; ">Increase of authorized capital</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">On April 28, 2020, the Board of Directors and Majority of stockholders of the Company approved to increase the total number of authorized shares of Common Stock from 26,666,667 to 100,000,000,000. </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "><span style="font-weight:bold; ">Private Placement</span> </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">On May 3, 2021, the Company entered into Common Stock Agreement with the foreign investor (the "New investor") that the Company will sell an aggregate of 200,000 shares of the Company's common stock to the New investor. Pursuant to the terms of a Common Stock Agreement between the Company and the New investor, the purchase price paid by the New investor for the shares were $3 per share for an aggregate sum of six hundred thousand U.S. dollars. As of September 30, 2021, the New investor has paid the amount of $320,513 which recorded in the other payables while the Company has not completed to issue the common stock to the New investor. </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-bottom:0pt; "/> <div> <div style="width:100%; clear:both;"> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; ">7</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </div><hr style="border-top:1.5pt solid #000000;"/><div style="page-break-after:always;"/> <p style="font-size:10pt;"><a href="#toc">Table of Contents</a></p> </div> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "><span style="font-weight:bold; ">Going Concern</span> </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">The Company has experienced recurring net losses $202,673 and $210,530 for the three months ended September 30, 2021 and 2020, respectively, and $599,737 and $229,367 for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, and December 31, 2020, the Company has stockholders’ deficit of $8,372,784 and $7,773,295, respectively. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s plans regarding those concerns are addressed in the following paragraph. The unaudited consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">In response to current financial conditions, the Company has undergone a drastic cost-cutting exercise, including reduction of the Company’s workforce, office rentals and other general and administrative expenses. The Company has actively explored new prominent media projects in order to provide a wider range of media and advertising services and improve our financial performance. If the project can start to operate, the Company expects that the project will improve the Company’s future financial performance. The Company expects that the new project can generate positive cashflow.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">The existing cash together with highly liquid current assets are insufficient to fund the Company’s operations for the next twelve months. The Company will need to rely upon some combination of cash generated from the Company’s operations, the proceeds from the issuance of the Company’s equity and debt securities as well as the exercise of the conversion option by the Company’s note holders to convert the notes to the Company’s common stock, in order to maintain the Company’s operations. Based on the Company’s best estimates, the Company believes that there are sufficient financial resources to meet the cash requirements for the coming twelve months and the consolidated financial statements have been prepared on a going concern basis. However, there can be no assurance the Company will be able to continue as a going concern. </p> | ||
| CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-8372784 | USD |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-7773295 | USD |
| CY2020Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000000 | shares |
| CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-202673 | USD |
| CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-210530 | USD |
| CY2021Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
26666667 | shares |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-599737 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-229367 | USD | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "> <span style="font-weight:bold; font-style:italic; ">(C) Use of Estimates</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:10pt; margin-bottom:0pt; ">In preparing unaudited consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Differences from those estimates are reported in the period they become known and are disclosed to the extent they are material to the unaudited consolidated financial statements taken as a whole. </p> | ||
| CY2021Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
100000 | USD |
| CY2020Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
100000 | USD |
| CY2021Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
USD | |
| CY2020Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
USD | |
| CY2021Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
100000 | USD |
| CY2020Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
100000 | USD |
| CY2021Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1891786 | USD |
| CY2020Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1749401 | USD |
| CY2021Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
50325 | USD |
| CY2020Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
47266 | USD |
| CY2021Q3 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
2485351 | USD |
| CY2020Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
2370872 | USD |
| CY2021Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
12238 | USD |
| CY2020Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
41461 | USD |
| CY2021Q3 | us-gaap |
Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
|
421711 | USD |
| CY2020Q4 | us-gaap |
Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
|
52650 | USD |
| CY2021Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
4861411 | USD |
| CY2020Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
4261650 | USD |
| CY2020Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
2973211 | USD |
| CY2021Q3 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
2973211 | USD |
| CY2020Q3 | nwcn |
Interest Expense On Short Term Debt
InterestExpenseOnShortTermDebt
|
128345 | USD |
| nwcn |
Interest Expense On Short Term Debt
InterestExpenseOnShortTermDebt
|
385691 | USD | |
| CY2021Q3 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
645000 | USD |
| CY2020Q4 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
645000 | USD |
| CY2021Q3 | nwcn |
Allocated Intrinsic Value Of Beneficial Conversion Features
AllocatedIntrinsicValueOfBeneficialConversionFeatures
|
USD | |
| CY2020Q4 | nwcn |
Allocated Intrinsic Value Of Beneficial Conversion Features
AllocatedIntrinsicValueOfBeneficialConversionFeatures
|
USD | |
| CY2021Q3 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
USD | |
| CY2020Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
USD | |
| CY2021Q3 | nwcn |
Convertible Notes Payable Net
ConvertibleNotesPayableNet
|
645000 | USD |
| CY2020Q4 | nwcn |
Convertible Notes Payable Net
ConvertibleNotesPayableNet
|
645000 | USD |
| CY2021Q3 | us-gaap |
Convertible Debt Current
ConvertibleDebtCurrent
|
USD | |
| CY2020Q4 | us-gaap |
Convertible Debt Current
ConvertibleDebtCurrent
|
USD | |
| CY2021Q3 | us-gaap |
Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
|
645000 | USD |
| CY2020Q4 | us-gaap |
Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
|
645000 | USD |
| CY2021Q3 | us-gaap |
Convertible Debt
ConvertibleDebt
|
645000 | USD |
| CY2020Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
|
645000 | USD |
| us-gaap |
Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
|
The dividend restrictions provide that the Company or any of its subsidiaries shall not declare or pay dividends or other distributions in respect of the equity securities of such entity other than dividends or distributions of cash which amounts during any 12-month period that exceed ten percent (10%) of the consolidated net income of the Company based on the Company’s most recent audited consolidated financial statements disclosed in the Company’s annual report on Form 10-K (or equivalent form) filed with the U.S. Securities and Exchange Commission. | ||
| CY2020Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
100000 | USD |
| CY2021Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
100000 | USD |
| CY2020Q3 | us-gaap |
Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
|
7750 | USD |
| us-gaap |
Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
|
394522 | USD | |
| CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-202673 | USD |
| CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-210530 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-599737 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-229367 | USD | |
| CY2021Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8774263 | shares |
| CY2020Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8774263 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8774263 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8774263 | shares | |
| CY2021Q3 | nwcn |
Incremental Common Shares Attributable To Dilutive Securities
IncrementalCommonSharesAttributableToDilutiveSecurities
|
shares | |
| CY2020Q3 | nwcn |
Incremental Common Shares Attributable To Dilutive Securities
IncrementalCommonSharesAttributableToDilutiveSecurities
|
shares | |
| nwcn |
Incremental Common Shares Attributable To Dilutive Securities
IncrementalCommonSharesAttributableToDilutiveSecurities
|
shares | ||
| nwcn |
Incremental Common Shares Attributable To Dilutive Securities
IncrementalCommonSharesAttributableToDilutiveSecurities
|
shares | ||
| CY2021Q3 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
shares | |
| CY2020Q3 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
shares | |
| us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
shares | ||
| us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
shares | ||
| CY2021Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8774263 | shares |
| CY2020Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8774263 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8774263 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8774263 | shares | |
| CY2021Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0231 | |
| CY2020Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0240 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0684 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0261 | ||
| CY2021Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-202673 | USD |
| CY2020Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-210530 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-599737 | USD | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-229367 | USD | |
| us-gaap |
Tax Credit Carryforward Limitations On Use
TaxCreditCarryforwardLimitationsOnUse
|
5 years | ||
| CY2021Q3 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
16477058 | USD |
| CY2021Q3 | us-gaap |
Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
|
3460184 | USD |
| nwcn |
Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
|
expire on various from 2024 through 2037 | ||
| CY2021Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
|
2279147 | USD |
| CY2021Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
|
892375 | USD |
| CY2021Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
|
217937 | USD |
| CY2021Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
|
70725 | USD |
| CY2021Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
3460184 | USD |
| CY2021Q3 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
USD | |
| CY2021Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
3460184 | USD |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
3443596 | USD |
| CY2021Q3 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| nwcn |
Schedule Of Movement Of Deferred Tax Assets Valuation Allowance
ScheduleOfMovementOfDeferredTaxAssetsValuationAllowance
|
<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:10pt; margin-bottom:0pt; "> Movement of valuation allowance: </p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> <div> <table cellpadding="0" class="fin" style="border-spacing:0; margin:auto; " width="100%"> <thead> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td colspan="2" style="width:16%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-top:0pt; margin-bottom:0pt; ">September 30, </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td colspan="2" style="width:16%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-top:0pt; margin-bottom:0pt; ">December 31, </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td colspan="2" style="width:16%; border-bottom:1pt solid #000000; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-top:0pt; margin-bottom:0pt; ">2021 </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td colspan="2" style="width:16%; border-bottom:1pt solid #000000; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-top:0pt; margin-bottom:0pt; ">2020 </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> </tr> <tr class="odd" style=""> <td style="width:64%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; "> </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td colspan="2" style="width:16%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td colspan="2" style="width:16%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> </tr> </thead> <tbody> <tr class="odd" style="background-color:#CCEEFF; "> <td style="width:64%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">At the beginning of the period/year<span style="padding-left:2pt; "/></p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">$ </p> </td> <td style="width:15%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-top:0pt; margin-bottom:0pt; "><span style="-sec-ix-hidden:Fact_417">3,443,596</span> </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">$ </p> </td> <td style="width:15%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-top:0pt; margin-bottom:0pt; ">4,549,144 </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> </tr> <tr class="even" style=""> <td style="width:64%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">Additions/(Deductions)<span style="padding-left:2pt; "/></p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; border-bottom:1pt solid #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:15%; vertical-align:bottom; border-bottom:1pt solid #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-top:0pt; margin-bottom:0pt; ">16,588 </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:center; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; border-bottom:1pt solid #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:15%; vertical-align:bottom; border-bottom:1pt solid #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-top:0pt; margin-bottom:0pt; ">(1,105,548 </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; margin-bottom:3px; margin-bottom:1pt; ">) </p> </td> </tr> <tr class="odd" style="background-color:#CCEEFF; "> <td style="width:64%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">At the end of the period/year<span style="padding-left:2pt; "/></p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; border-bottom:3px double #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">$ </p> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-top:0pt; margin-bottom:0pt; ">3,460,184 </p> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-bottom:0pt; "/> </td> <td style="width:1%; vertical-align:bottom; border-bottom:3px double #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:0pt; margin-bottom:0pt; ">$ </p> </td> <td style="width:15%; vertical-align:bottom; border-bottom:3px double #000000; "> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:right; margin-top:0pt; margin-bottom:0pt; "><span style="-sec-ix-hidden:Fact_422">3,443,596</span> </p> </td> <td style="width:100%; vertical-align:bottom; "> <p style="font-family:Times New Roman, Times, serif; font-size:12pt; text-align:left; margin-top:0pt; margin-bottom:0pt; "/></td></tr></tbody></table></div> | ||
| CY2019Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4549144 | USD |
| us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
16588 | USD | |
| CY2020 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-1105548 | USD |
| CY2021Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3460184 | USD |
