$ODRS
Outdoor Specialty Products, Inc.

2024 Q1 Form 10-Q Financial Statement

#000121390024012065 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $65.00 $13.00
YoY Change -66.67% -90.0%
Cost Of Revenue $6.00 $1.00
YoY Change -70.0% -92.31%
Gross Profit $59.00 $12.00
YoY Change -66.29% -89.74%
Gross Profit Margin 90.77% 92.31%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit 0.0%
Operating Expenses $8.732K $15.61K
YoY Change -25.0% 55.27%
Operating Profit -$8.673K -$15.60K
YoY Change -24.37% 56.98%
Interest Expense $942.00
YoY Change 53.17%
% of Operating Profit
Other Income/Expense, Net -$942.00
YoY Change 53.17%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$9.759K -$16.54K
YoY Change -19.84% 56.76%
Net Earnings / Revenue -15013.85% -127215.38%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 5.284M shares 5.284M shares 5.284M shares
Diluted Shares Outstanding 5.284M shares 5.284M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $3.241K $1.540K $3.162K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $3.654K $3.660K $3.661K
Prepaid Expenses $3.360K $5.550K $458.00
Receivables
Other Receivables
Total Short-Term Assets $10.26K $10.75K $7.281K
YoY Change 5.9% 2.87% 14.9%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $10.26K $10.75K $7.281K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $10.26K $10.75K $7.281K
YoY Change -27.12% -28.04% -33.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.822K $2.310K
YoY Change
Accrued Expenses $7.040K $5.954K $5.012K
YoY Change 106.45% 120.27% 140.04%
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 $135.0K $125.7K $105.7K
YoY Change 52.1% 62.35% 68.13%
SHAREHOLDERS EQUITY
Retained Earnings -$229.2K -$219.5K -$202.9K
YoY Change 27.93% 31.41% 29.7%
Common Stock $5.285K $5.285K $5.285K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$124.7K -$114.9K -$98.40K
YoY Change
Total Liabilities & Shareholders Equity $10.26K $10.75K $7.281K
YoY Change -27.12% -28.04% -33.37%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$9.759K -$16.54K
YoY Change -19.84% 56.76%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$15.18K
YoY Change 8.71%
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 $13.55K
YoY Change -2.82%
NET CHANGE
Cash From Operating Activities -$15.18K
Cash From Investing Activities
Cash From Financing Activities $13.55K
Net Change In Cash -$1.622K
YoY Change 12376.92%
FREE CASH FLOW
Cash From Operating Activities -$15.18K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 3 – LINE OF CREDIT – RELATED PARTY</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">During the three months ended December 31, 2023, the Company amended the revolving promissory note agreement with its related party to extend the maturity date to December 31, 2024 and increase the maximum principal indebtedness to $127,500. The revolving promissory note bears interest at the rate of 3.5% per annum. The Company received proceeds under the line of credit of $10,000 during the three months ended December 31, 2023, resulting in principal balances of $93,521 and $83,521, with accrued interest of $5,246 and $4,444, at December 31, 2023 and September 30, 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Also, during the three months ended December 31, 2023, the Company amended the revolving promissory note agreement with another principal stockholder to extend the maturity date to December 31, 2024 and increase the maximum principal indebtedness to $22,500. The revolving promissory note bears interest at the rate of 3.5% per annum. The Company received proceeds under the line of credit of $3,553 during the three months ended December 31, 2023, resulting in principal balances of $18,392 and $14,839, with accrued interest of $708 and $568, at December 31, 2023 and September 30, 2023, respectively.</p>
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f10q1223ex10-1_outdoorspec.htm Edgar Link pending
f10q1223ex10-2_outdoorspec.htm Edgar Link pending
f10q1223ex31-1_outdoorspec.htm Edgar Link pending
f10q1223ex32-1_outdoorspec.htm Edgar Link pending
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