2024 Q1 Form 10-Q Financial Statement
#000149315224019688 Filed on May 15, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | |
YoY Change | |||
Cost Of Revenue | $0.00 | $0.00 | |
YoY Change | |||
Gross Profit | $0.00 | $0.00 | |
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $69.02K | $18.41K | $89.81K |
YoY Change | -23.15% | ||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $69.02K | $18.40K | $89.81K |
YoY Change | -23.14% | ||
Operating Profit | -$69.02K | -$18.40K | -$89.81K |
YoY Change | -23.14% | ||
Interest Expense | $0.00 | ||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$69.02K | -$127.6K | -$89.81K |
YoY Change | -23.15% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$69.02K | -$127.6K | -$89.81K |
YoY Change | -23.14% | 3891.38% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 109.1M shares | 109.1M shares | 108.5M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $240.00 | $240.00 | $198.3K |
YoY Change | -99.88% | ||
Cash & Equivalents | $244.00 | $224.00 | $198.3K |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $4.060K | |
YoY Change | |||
Inventory | $3.459K | ||
Prepaid Expenses | |||
Receivables | $20.00K | ||
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $244.00 | $244.00 | $222.4K |
YoY Change | -99.89% | -99.91% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $94.83K | ||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $244.00 | $244.00 | $222.4K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $244.00 | $244.00 | $222.4K |
YoY Change | -99.89% | -99.91% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $29.68K | $13.78K | $9.980K |
YoY Change | 197.39% | ||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $53.13K | $0.00 | $5.250K |
YoY Change | 912.0% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $82.81K | $13.78K | $15.24K |
YoY Change | 443.35% | -81.55% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $82.81K | $13.78K | $15.24K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $82.81K | $13.78K | $15.24K |
YoY Change | 443.35% | -81.55% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.467M | -$1.398M | |
YoY Change | 42.42% | ||
Common Stock | $109.1K | $109.1K | |
YoY Change | 1.45% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$82.56K | -$13.54K | $207.2K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $244.00 | $244.00 | $222.4K |
YoY Change | -99.89% | -99.91% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$69.02K | -$127.6K | -$89.81K |
YoY Change | -23.14% | 3891.38% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$10.14K | $537.4K | |
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 | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -4.700K | -556.6K | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -10.14K | 537.4K | |
Cash From Investing Activities | |||
Cash From Financing Activities | -4.700K | -556.6K | |
Net Change In Cash | -14.84K | -19.21K | |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.14K | $537.4K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Gross Profit
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|
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Suite 705 | |
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Los Angeles | |
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Entity Address State Or Province
EntityAddressStateOrProvince
|
CA | |
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Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
90024 | |
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City Area Code
CityAreaCode
|
(213) | |
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Local Phone Number
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616-0011 | |
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Q1 | |
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Increase Decrease In Accounts Receivable
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Increase Decrease In Prepaid Expense
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Net Cash Provided By Used In Operating Activities
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Proceeds From Issuance Of Common Stock
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Repayments Of Related Party Debt
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Interest Paid
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Document Type
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Document Period End Date
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2024-03-31 | |
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2024 | |
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Document Transition Report
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Entity File Number
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000-56555 | |
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Entity Registrant Name
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Trustfeed Corp. | |
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Entity Incorporation State Country Code
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NV | |
CY2024Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
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CY2024Q1 | dei |
Entity Address Address Line1
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10940 Wilshire Blvd | |
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Entity Current Reporting Status
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Entity Interactive Data Current
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Entity Shell Company
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Entity Common Stock Shares Outstanding
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Cash
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Cash
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Preferred Stock Value
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Common Stock Par Or Stated Value Per Share
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Common Stock Shares Authorized
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Common Stock Value
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Retained Earnings Accumulated Deficit
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General And Administrative Expense
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Earnings Per Share Basic
EarningsPerShareBasic
|
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Earnings Per Share Diluted
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|
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|
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|
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|
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Increase Decrease In Prepaid Expense
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Increase Decrease In Accounts Payable
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Increase Decrease In Accounts Payable
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|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
NV | |
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Entity Incorporation Date Of Incorporation
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|
2000-09-14 | |
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Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
reverse split in which each shareholder was issued one common share in exchange for every two thousand common shares of their then-currently issued common stock | |
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Common Stock Shares Issued
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|
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Common Stock Shares Outstanding
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|
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
295000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
75000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
295000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
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Use Of Estimates
UseOfEstimates
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<p id="xdx_84B_eus-gaap--UseOfEstimates_zXt9RjpgjW5e" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_86A_zrPUyMkfwA6f">Use of estimates</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69024 | usd |
CY2024Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
244 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1467357 | usd |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
295000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
295000000 | shares |
CY2022Q2 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
On June 3, 2023, the Board authorized the execution of a reverse split of the issued and outstanding shares of the Corporation’s common stock at a ratio of up to one post-split share per two thousand pre-split shares (1:2,000) | |
CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
109138049 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
108517979 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.0006 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.0008 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |