2023 Q2 Form 10-Q Financial Statement
#000121390023039787 Filed on May 15, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $47.23K | $56.17K | $29.87K |
YoY Change | 99.31% | 88.03% | 143.44% |
Cost Of Revenue | $20.87K | $24.60K | $24.82K |
YoY Change | 208.27% | -0.87% | -21.08% |
Gross Profit | $26.36K | $31.56K | $5.050K |
YoY Change | 55.73% | 524.99% | -126.33% |
Gross Profit Margin | 55.82% | 56.19% | 16.91% |
Selling, General & Admin | $88.54K | $114.4K | |
YoY Change | -22.57% | 393.74% | |
% of Gross Profit | 280.53% | 2264.36% | |
Research & Development | $0.00 | $7.070K | |
YoY Change | -100.0% | ||
% of Gross Profit | 0.0% | 140.0% | |
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $71.87K | $88.54K | $121.4K |
YoY Change | -46.35% | -27.08% | 424.27% |
Operating Profit | -$45.51K | -$56.97K | -$116.4K |
YoY Change | -61.11% | -51.04% | 174.85% |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | -$156.00 | $79.00 | $30.00 |
YoY Change | -132.98% | 163.33% | -130.0% |
Pretax Income | -$45.36K | -$57.05K | -$116.3K |
YoY Change | -61.4% | -50.96% | 174.13% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$45.36K | -$57.05K | -$116.3K |
YoY Change | -61.4% | -50.96% | 174.13% |
Net Earnings / Revenue | -96.04% | -101.58% | -389.49% |
Basic Earnings Per Share | $0.00 | -$0.01 | -$0.01 |
Diluted Earnings Per Share | $0.00 | -$0.01 | -$10.12K |
COMMON SHARES | |||
Basic Shares Outstanding | 11.50M shares | 11.50M shares | 11.50M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $25.54K | $146.5K | |
YoY Change | -82.56% | -44.69% | |
Cash & Equivalents | $31.68K | $25.54K | $146.5K |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $8.725K | $14.44K | $20.10K |
Other Receivables | $16.82K | $26.50K | $9.330K |
Total Short-Term Assets | $66.22K | $75.47K | $175.9K |
YoY Change | -20.61% | -57.09% | -41.12% |
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 | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $66.22K | $75.47K | $175.9K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $66.22K | $75.47K | $175.9K |
YoY Change | -20.61% | -57.09% | -41.12% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $31.78K | $34.79K | $19.57K |
YoY Change | 1.56% | 77.79% | 36.09% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $509.0K | $489.0K | $395.7K |
YoY Change | 23.86% | 23.59% | 15.0% |
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 | $509.0K | $489.0K | $395.7K |
Total Long-Term Liabilities | $0.00 | $0.00 | |
Total Liabilities | $509.0K | $489.0K | $395.7K |
YoY Change | 23.86% | 23.59% | 15.0% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$651.8K | -$606.5K | |
YoY Change | 26.77% | ||
Common Stock | $11.50K | $11.50K | $11.50K |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$442.8K | -$413.5K | -$219.8K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $66.22K | $75.47K | $175.9K |
YoY Change | -20.61% | -57.09% | -41.12% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$45.36K | -$57.05K | -$116.3K |
YoY Change | -61.4% | -50.96% | 174.13% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$32.45K | -$116.2K | |
YoY Change | -72.07% | 246.84% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $9.085K | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $9.085K | -2.920K | |
YoY Change | -411.13% | -122.31% | |
NET CHANGE | |||
Cash From Operating Activities | -$32.45K | -116.2K | |
Cash From Investing Activities | |||
Cash From Financing Activities | $9.085K | -2.920K | |
Net Change In Cash | -$23.36K | $0.00 | |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$32.45K | -$116.2K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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2023-03-31 | |
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Engineer Experiment Building | |
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A202 7 Gaoxin South Avenue | |
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Nanshan District | |
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Shenzhen | |
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Us Legal And Audit Cost Incurred
USLegalAndAuditCostIncurred
|
310580 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
Amount of receivable from shareholders due to the company declared a 6,000 to 1 stock split. | |
CY2023Q1 | us-gaap |
Share Price
SharePrice
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Other Value Outstanding
CommonStockOtherValueOutstanding
|
8998 | usd |
CY2023Q1 | us-gaap |
Related Party Tax Expense Due From Affiliates Current
RelatedPartyTaxExpenseDueFromAffiliatesCurrent
|
8998 | usd |
CY2022 | us-gaap |
Related Party Tax Expense Due From Affiliates Current
RelatedPartyTaxExpenseDueFromAffiliatesCurrent
|
8998 | usd |
CY2023Q1 | us-gaap |
Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
|
387838 | usd |
CY2022 | us-gaap |
Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
|
378753 | usd |
CY2023Q1 | us-gaap |
Percentage Of Unamortized Film Costs
PercentageOfUnamortizedFilmCosts
|
0.237 | pure |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.005 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.010 | |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
518000 | |
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001784058 |