$PCMC
PUBLIC CO MANAGEMENT CORP

2022 Form 10-K Financial Statement

#000121465923002645 Filed on February 16, 2023

View on sec.gov

Income Statement

Concept 2022 2021
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $26.21K $11.24K
YoY Change 133.19%
% of Gross Profit
Research & Development $0.00 $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $26.21K $11.24K
YoY Change 133.21%
Operating Profit -$26.21K -$11.24K
YoY Change 133.21%
Interest Expense $10.50K $10.50K
YoY Change 0.0%
% of Operating Profit
Other Income/Expense, Net -$10.50K -$10.50K
YoY Change 0.0%
Pretax Income -$36.71K -$21.74K
YoY Change 68.86%
Income Tax
% Of Pretax Income
Net Earnings -$36.71K -$21.74K
YoY Change 68.87%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 34.28M shares
Diluted Shares Outstanding 34.28M shares

Balance Sheet

Concept 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.450K $6.690K
YoY Change -33.48%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.450K $6.690K
YoY Change -33.48%
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
YoY Change
TOTAL ASSETS
Total Short-Term Assets $4.450K $6.690K
Total Long-Term Assets $0.00 $0.00
Total Assets $4.450K $6.690K
YoY Change -33.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.44K $28.47K
YoY Change 84.19%
Accrued Expenses $63.03K $52.53K
YoY Change 19.99%
Deferred Revenue
YoY Change
Short-Term Debt $350.0K $350.0K
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $465.5K $431.0K
YoY Change 8.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $465.5K $431.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $465.5K $431.0K
YoY Change 8.0%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$461.0K -$424.3K
YoY Change
Total Liabilities & Shareholders Equity $4.450K $6.690K
YoY Change -33.48%

Cashflow Statement

Concept 2022 2021
OPERATING ACTIVITIES
Net Income -$36.71K -$21.74K
YoY Change 68.87%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities -$2.240K -$9.312K
YoY Change -75.95%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
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 -$2.240K -$9.312K
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash -$2.240K -$9.312K
YoY Change -75.95%
FREE CASH FLOW
Cash From Operating Activities -$2.240K -$9.312K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$2.240K -$9.312K
YoY Change -75.95%

Facts In Submission

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CY2022 dei Entity Registrant Name
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PUBLIC CO MANAGEMENT CORP
CY2022 dei Entity Incorporation State Country Code
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CY2022 dei Entity Tax Identification Number
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CY2022 us-gaap Nature Of Operations
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<p id="xdx_84D_eus-gaap--NatureOfOperations_zKusBMRB0Jg1" style="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><b><span id="xdx_86A_znsl0EINlTz3">Nature of Business</span></b></p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0; text-align: justify">Public Company Management Corporation ("Company”), a Nevada corporation, was formed on October 26, 2000. On October 1, 2004, MyOffiz, Inc. ("MyOffiz") entered into an Exchange Agreement with the certain controlling shareholders of GoPublicToday.com, Inc., Pubco WhitePapers, Inc., and Public Company Management Services, Inc. The Company was the holding company for, and conducted its operations through, its subsidiary companies. The term "we" and "our" refers to the Company and its subsidiaries unless otherwise stated.</p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0; text-align: justify">Pursuant to the Exchange Agreement, MyOffiz acquired approximately <span id="xdx_90B_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_c20220930__us-gaap--BusinessAcquisitionAxis__custom--MyOffizMember_zVfWwxTKXlNg" title="Percentage acquired">92.1</span>% of the outstanding shares of GoPublicToday.com, Inc., all of the outstanding shares of Pubco WhitePapers, Inc., and all of the outstanding shares of Public Company Management Services, Inc in exchange for the new issuance of an aggregate of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211001__20220930__srt--CounterpartyNameAxis__custom--MyOffizMember_pdd" title="Number of common stock issued during the period">15,326,650</span> of MyOffiz's common stock. Subsequent to the Exchange Agreement, MyOffiz obtained 100% of the partially owned subsidiaries, changed its fiscal year end from June 30 to September 30, and changed its name to Public Company Management Corporation.</p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0; text-align: justify">The Company was a management consulting firm that educated and assisted small businesses to improve their management, corporate governance, regulatory compliance, and other business processes, with a focus on capital market participation. The Company offered the following services to its clients at various stages of the business lifecycle:</p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify; padding-right: 0.05in"><span style="font-family: Times New Roman">Educational products to improve business processes or explore entering the capital markets;</span></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify; padding-right: 0.05in"><span style="font-family: Times New Roman">Startup consulting to early-stage companies planning for growth;</span></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify; padding-right: 0.05in"><span style="font-family: Times New Roman">Management consulting to companies seeking to enter the capital markets via self-underwriting or direct public offering or to move from one capital market to another; and</span></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify; padding-right: 0.05in"><span style="font-family: Times New Roman">Compliance services to fully reporting, publicly traded companies.</span></td></tr></table> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0; text-align: justify">The Company generated revenues primarily from consulting services that it provided to private company clients seeking to become fully reporting, publicly traded companies. The Company also generated revenue from regulatory compliance services that the Company was providing to public company clients that are required to file periodic and other reports with the Securities and Exchange Commission (“SEC”). The Company would be paid a flat fee for these services, which generally consisted of cash and restricted shares of the Company’s clients’ common stock.</p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0; text-align: justify">Predicated upon the economic recession of 2008, commencing with the subprime mortgage crisis and bank crisis, a significant increase in housing foreclosures ultimately caused the stock market to crash in September 2008. At that time, and prior, the Company faced competition from a large number of consulting firms, investment banks, venture capitalists, merchant banks, financial advisors, and other similar management consulting and regulatory compliance services firms. Due to (i) the inability to raise funds in the marketplace and (ii) the intense competition in every aspect of the Company’s business, the Company was unable to operate profitably.</p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p>
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<p id="xdx_84C_ecustom--RelatedPartyTransactionsPolicytextBlock_zLUCMsxGlE4" style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0"> <b><span id="xdx_864_z8rNniSQHCXb">Related Party Transactions</span></b></p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman; margin: 0pt 0.05in 0pt 0; text-align: justify">The Company follows ASC 850, <i>Related Party Disclosures</i>, for the identification of related parties and disclosure of related party transactions. Related party note and interest balances as of September 30, 2022 and 2021 were $<span id="xdx_90F_eus-gaap--AccountsPayableRelatedPartiesCurrent_c20220930_pp0p0" title="Related party note and interest balances">413,029</span> and $<span id="xdx_90E_eus-gaap--AccountsPayableRelatedPartiesCurrent_c20210930_pp0p0" title="Related party note and interest balances">402,529</span>, respectively and related party accrued liabilities as of September 30, 2022 and 2021 of $<span id="xdx_904_ecustom--RelatedPartyAccruedLiabilities_c20220930_pp0p0" title="Related party accrued liabilities">32,164</span> and $<span id="xdx_905_ecustom--RelatedPartyAccruedLiabilities_c20210930_pp0p0" title="Related party accrued liabilities">26,237</span>, respectively (see Note 5. Related Party Transactions).</p> <p style="font: 10pt Times New Roman; margin: 0pt 0"> </p>
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32164 usd
CY2021Q3 PCMC Related Party Accrued Liabilities
RelatedPartyAccruedLiabilities
26237 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2022 us-gaap Depreciation
Depreciation
0 usd
CY2021 us-gaap Depreciation
Depreciation
0 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5515035 usd
CY2022Q3 PCMC Working Capital Deficit
WorkingCapitalDeficit
461019 usd
CY2022 us-gaap Interest Expense
InterestExpense
10500 usd
CY2021 us-gaap Interest Expense
InterestExpense
10500 usd
CY2022Q3 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
350000 usd
CY2021Q3 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
350000 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
63029 usd
CY2021Q3 us-gaap Interest Payable Current
InterestPayableCurrent
52529 usd
CY2021Q3 us-gaap Interest Payable Current
InterestPayableCurrent
52529 usd
CY2022Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
32164 usd
CY2021Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
26237 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34276816 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34276816 shares
CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2021 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2022Q3 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
-5515035 usd
CY2021Q3 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
-5493699 usd
CY2022 PCMC Offset Income
OffsetIncome
58483 usd

Files In Submission

Name View Source Status
pcmc-20220930_cal.xml Edgar Link unprocessable
pcmc-20220930_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001214659-23-002645-index-headers.html Edgar Link pending
0001214659-23-002645-index.html Edgar Link pending
0001214659-23-002645.txt Edgar Link pending
0001214659-23-002645-xbrl.zip Edgar Link pending
ex23_4.htm Edgar Link pending
ex31_1.htm Edgar Link pending
ex32_1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
g21323310k.htm Edgar Link pending
MetaLinks.json Edgar Link pending
pcmc-20220930.xsd Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
pcmc-20220930_lab.xml Edgar Link unprocessable
pcmc-20220930_pre.xml Edgar Link unprocessable
g21323310k_htm.xml Edgar Link completed
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
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R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sull_sig.jpg Edgar Link pending
sull_sigsm.jpg Edgar Link pending