$PBAJ
Petro USA Inc

2024 Q1 Form 10-Q Financial Statement

#000101738624000024 Filed on February 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.780K
YoY Change -50.51%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $6.778K
YoY Change -50.54%
Operating Profit -$6.778K
YoY Change -50.54%
Interest Expense $70.00
YoY Change 0.0%
% of Operating Profit
Other Income/Expense, Net -$70.00
YoY Change 0.0%
Pretax Income -$6.848K
YoY Change -50.27%
Income Tax
% Of Pretax Income
Net Earnings -$6.848K
YoY Change -50.28%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 200.1M shares 30.92K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $350.00
YoY Change
Cash & Equivalents $352.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $352.00
YoY Change
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
YoY Change
TOTAL ASSETS
Total Short-Term Assets $352.00
Total Long-Term Assets $0.00
Total Assets $352.00
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.45K
YoY Change 35.03%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $22.46K
YoY Change 470.05%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $153.9K
YoY Change 28.07%
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 $153.9K
Total Long-Term Liabilities $0.00
Total Liabilities $153.9K
YoY Change 28.07%
SHAREHOLDERS EQUITY
Retained Earnings -$121.9M
YoY Change 0.03%
Common Stock $20.01K
YoY Change 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$153.5K
YoY Change
Total Liabilities & Shareholders Equity $352.00
YoY Change

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$6.848K
YoY Change -50.28%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$18.07K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
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 18.24K
YoY Change
NET CHANGE
Cash From Operating Activities -18.07K
Cash From Investing Activities 0.000
Cash From Financing Activities 18.24K
Net Change In Cash 170.0
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$18.07K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84A_eus-gaap--NatureOfOperations_zg9llPAkVTna" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Business Organization</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Petro USA, Inc. formerly All State Properties Holdings, Inc., a corporation (the "Company") was organized under the state of Nevada on April 24, 2008 to conduct business formerly carried on by its predecessor partnership, All State Properties L.P. (the "Partnership"). The Partnership merged with the Company on May 29, 2008. The Company acquired all of the assets and assumed all of the liabilities and obligations of the Partnership. At May 29, 2008 each unit, par value $0.001 per share of the Partnership was converted into one issued and outstanding share of par value $0.0001 common stock of the Corporation. On December 18, 2020, All State Properties Holdings, Inc. changed its name to Petro USA, Inc.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">The Company's fiscal year end is June 30th.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p>
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<p id="xdx_84C_eus-gaap--UseOfEstimates_zF5eXS3oeHdb" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Use of Estimates</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p>
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Files In Submission

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