2023 Q4 Form 10-K Financial Statement

#000159991624000073 Filed on March 08, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $19.52K $73.90K
YoY Change -21.98% -60.27%
Cost Of Revenue $25.60K $79.35K
YoY Change -23.74% -47.33%
Gross Profit -$6.080K -$5.445K
YoY Change -28.89% -115.4%
Gross Profit Margin -31.15% -7.37%
Selling, General & Admin $76.60K $259.5K
YoY Change 77.36% 30.39%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.270K $9.400K
YoY Change 1744.12% 510.39%
% of Gross Profit
Operating Expenses $76.60K $259.5K
YoY Change 77.31% 30.39%
Operating Profit -$82.68K -$264.9K
YoY Change 59.77% 61.88%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $510.00 $1.110K
YoY Change -46.32% -86.75%
Pretax Income -$82.17K -$263.8K
YoY Change 61.75% 69.9%
Income Tax
% Of Pretax Income
Net Earnings -$82.17K -$263.8K
YoY Change 61.75% 69.9%
Net Earnings / Revenue -420.95% -357.01%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.03
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 8.000M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.56K $11.56K
YoY Change -39.48% -39.48%
Cash & Equivalents $11.56K $11.56K
Short-Term Investments
Other Short-Term Assets $1.710K $1.710K
YoY Change -35.71% -35.71%
Inventory $68.47K $68.47K
Prepaid Expenses $1.709K
Receivables $4.594K $4.590K
Other Receivables $14.78K $14.78K
Total Short-Term Assets $101.1K $101.1K
YoY Change 1.61% 1.61%
LONG-TERM ASSETS
Property, Plant & Equipment $55.31K $55.31K
YoY Change 924.26% 924.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $55.31K $55.31K
YoY Change 81.44% 81.4%
TOTAL ASSETS
Total Short-Term Assets $101.1K $101.1K
Total Long-Term Assets $55.31K $55.31K
Total Assets $156.4K $156.4K
YoY Change 20.33% 20.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $13.42K $13.42K
YoY Change 1530.5% 1536.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.630K $9.630K
YoY Change -5.59% -5.59%
Total Short-Term Liabilities $817.8K $817.8K
YoY Change 23.35% 23.34%
LONG-TERM LIABILITIES
Long-Term Debt $6.420K $6.420K
YoY Change -62.21% -62.21%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $6.420K $6.420K
YoY Change -62.21% -62.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $817.8K $817.8K
Total Long-Term Liabilities $6.420K $6.420K
Total Liabilities $824.2K $824.2K
YoY Change 21.21% 21.21%
SHAREHOLDERS EQUITY
Retained Earnings -$938.8K
YoY Change 39.09%
Common Stock $800.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$667.8K -$667.8K
YoY Change
Total Liabilities & Shareholders Equity $156.4K $156.4K
YoY Change 20.33% 20.32%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$82.17K -$263.8K
YoY Change 61.75% 69.9%
Depreciation, Depletion And Amortization $6.270K $9.400K
YoY Change 1744.12% 510.39%
Cash From Operating Activities -$106.8K -$142.0K
YoY Change 999.79% 4173.22%
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 100.2K $133.4K
YoY Change -7312.23% -451.9%
NET CHANGE
Cash From Operating Activities -106.8K -$142.0K
Cash From Investing Activities
Cash From Financing Activities 100.2K $133.4K
Net Change In Cash -6.540K -$8.630K
YoY Change -41.08% -79.07%
FREE CASH FLOW
Cash From Operating Activities -$106.8K -$142.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023 PTZH Disaggregatedrevenuebynatureofthecompanytable
Disaggregatedrevenuebynatureofthecompanytable
<p id="xdx_897_ecustom--Disaggregatedrevenuebynatureofthecompanytable_zYh5er9pSqj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B0_zEmALuVO8aZd">Disaggregated revenue by nature of the Company</span> is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 40%; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="white-space: nowrap; width: 3%; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="width: 14%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year</span></td> <td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage of</span></td> <td style="white-space: nowrap; width: 19%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year</span></td> <td style="white-space: nowrap; width: 15%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage of</span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ended</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">total revenues</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ended</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">total revenues</span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">November 30, 2023</span></td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">November 30, 2022</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from cameras sold</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">57,436</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">77.72%</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">139,974</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">75.26%</span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service revenue</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,465</span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.28%</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46,017</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.74%</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">73,901</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">185,991</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td></tr> </table>
CY2023 PTZH Disaggregatedrevenuebygeographictable
Disaggregatedrevenuebygeographictable
<p id="xdx_892_ecustom--Disaggregatedrevenuebygeographictable_zeRH7nzxOTUj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8BB_z6glzk5Gk423">Disaggregated revenue by geographic of the Company</span> is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 39%; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="white-space: nowrap; width: 3%; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="width: 14%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year</span></td> <td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage of</span></td> <td style="white-space: nowrap; width: 20%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year</span></td> <td style="white-space: nowrap; width: 15%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage of</span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ended</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">total revenues</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ended</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">total revenues</span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">November 30, 2023</span></td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">November 30, 2022</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from US</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,888</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71.57%</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">139,974</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">75.26%</span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from Japan</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,013</span></td> <td style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28.43%</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46,017</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.74%</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">73,901</span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">185,991</span></td> <td style="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td></tr> </table>
CY2023 us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<p id="xdx_84B_eus-gaap--ComparabilityOfPriorYearFinancialData_zy3vRMXdjmKk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_865_zK4DaYjKUbE8"><b>RECENT ACCOUNTING PRONOUNCEMENTS</b></span></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">In June 2016, the FASB issued ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for smaller reporting companies for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company is in the process of evaluating the impact of the adoption of ASU 2016-13 on the Company's financial statements and disclosures.</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">The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.</p>
PTZH Borrowedfromwhiteknight
Borrowedfromwhiteknight
100643 usd
CY2023 PTZH Advancedbyceoperiod
Advancedbyceoperiod
4647 usd
CY2023 PTZH Paidonbehalfofcompanyperiod
Paidonbehalfofcompanyperiod
101340 usd
CY2023 PTZH Repaidtophotozouco
Repaidtophotozouco
7410 usd
CY2023Q4 PTZH Totalduetorelatedparty
Totalduetorelatedparty
726603 usd
CY2023 PTZH Borrowedfromwhiteknightco
Borrowedfromwhiteknightco
71492 usd
CY2023Q4 PTZH Totalduetowhiteknight
Totalduetowhiteknight
68154 usd
CY2022Q4 PTZH Totalduetowhiteknight
Totalduetowhiteknight
0 usd
CY2022 PTZH Advancedbyceoperiod
Advancedbyceoperiod
23129 usd
CY2022 PTZH Paidonbehalfofcompanyperiod
Paidonbehalfofcompanyperiod
138465 usd
CY2022 PTZH Repaidtophotozouco
Repaidtophotozouco
50112 usd
CY2022Q4 PTZH Totalduetorelatedparty
Totalduetorelatedparty
651999 usd
CY2023 PTZH Netoperatinglosscarryforwardtable
Netoperatinglosscarryforwardtable
<p id="xdx_89C_ecustom--Netoperatinglosscarryforwardtable_zaiH0WPxDqhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has not recognized any income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. Deferred tax assets arise from net operating loss carried forward of $<span id="xdx_90E_ecustom--Companynetoperatinglosscarriedforward_iI_c20231130_z8fedve9z0lj"><span id="xdx_900_ecustom--Netlosscarryforwardasof_iI_c20231130_zfSSr5HOWQb7" title="Deferred tax asset from net operating loss carried forward">948,748</span></span> are fully allowed as the Company considers its realization not to be more likely than not. The net operating loss carry forward will start to expire in the year 2028. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. Due to the change in ownership provisions of the Tax Reform Act of 1986, <span id="xdx_8B8_zBTZ3zB0GM2i">net operating loss carryforwards</span> for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="5" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">November 30,</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2023</span></td> <td style="vertical-align: top; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax asset, generated from net operating loss at statutory rates</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">197,145</span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,873</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valuation allowance</span></td> <td style="vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (197,145)</span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (141,873)</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">- </span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td> <td style="vertical-align: bottom"> </td></tr> </table> <p style="font: 10pt/10.5pt Times New Roman, Times, Serif; margin: 0">The reconciliation of the effective income tax rate to the federal statutory rate is as follows:</p> <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; background-color: white"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 61%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Federal income tax rate</span></td> <td style="width: 1%"> </td> <td style="width: 33%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.0</span></td> <td style="white-space: nowrap; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase in valuation allowance</span></td> <td> </td> <td style="border-bottom: black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(21.0</span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%)</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective income tax rate</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0</span></td> <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table>
CY2023Q4 PTZH Companynetoperatinglosscarriedforward
Companynetoperatinglosscarriedforward
948748 usd
CY2023Q4 PTZH Netlosscarryforwardasof
Netlosscarryforwardasof
948748 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_80B_eus-gaap--ConcentrationRiskCreditRisk_zv8iryRwFdji" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_824_zmvkqw4otsga"><b>NOTE 7 - CONCENTRATION</b></span>  </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"><b>Concentration of Purchases</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">Net purchase from suppliers accounting for 10% or more of total purchases are as follows:</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">For the year ended November 30, 2023, 100% of the inventories of cameras were purchased from one supplier, specifically eSakura Market. For the year ended November 30, 2023, 100% of the purchase of inventory was handled by Mr. Takaharu Ogami whom the Company has a service agreement with to sell and buy used cameras on behalf of the Company.</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">For the year ended November 30, 2022, 93.8% of the inventories of cameras were purchased from one supplier, specifically eSakura Market. For the year ended November 30, 2022, 100% of the purchase of inventory was handled by Mr. Takaharu Ogami whom the Company has a service agreement with to sell and buy used cameras on behalf of the Company.</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"><b>Concentration of Revenues</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">Gross revenues from customers accounting for 10% or more of total revenues are as follows:</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">For the year ended November 30, 2023, 92% and 8% of the revenue from the sale of cameras was generated through Amazon USA and Yahoo Japan, respectively. For the year ended November 30, 2023, 100% of the revenue from the sale of cameras was handled by Takaharu Ogami whom the Company has a service agreement with to sell and buy used cameras on behalf of the Company.</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">For the year ended November 30, 2022, 100% of the revenue from the sale of cameras was generated through Amazon USA. For the year ended November 30, 2022, 100% of the revenue from the sale of cameras was handled by Takaharu Ogami whom the Company has a service agreement with to sell and buy used cameras on behalf of the Company.</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">For the year ended November 30, 2023 and November 30, 2022, no customer accounted for 10% or more of service revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p>
CY2020Q3 PTZH Amountborrowedon
Amountborrowedon
65286 usd
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
9628 usd
CY2023Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
6419 usd
CY2023 PTZH Futureprincipalpaymentstable
Futureprincipalpaymentstable
<p id="xdx_893_ecustom--Futureprincipalpaymentstable_zMUqfBdxIr3j" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The <span id="xdx_8B8_zdsdHuVtb16">future principal payments for the Company’s long-term loan as of November 30, 2023</span>, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending November 30,</span></td> <td colspan="2" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,628</span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,419</span></td></tr> <tr style="vertical-align: top; background-color: transparent"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td></tr> <tr style="vertical-align: top; background-color: transparent"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,047</span></td></tr> </table>

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