$PUBC
PureBase Corp

2023 Q2 Form 10-Q Financial Statement

#000149315223011998 Filed on April 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $66.38K $52.26K
YoY Change -70.95%
Cost Of Revenue $26.61K $22.46K $3.250K
YoY Change -69.78% 591.08% 54.03%
Gross Profit $39.77K $29.80K -$3.250K
YoY Change -71.68% -1016.92% 54.03%
Gross Profit Margin 59.92% 57.03%
Selling, General & Admin $2.322M $5.887M $11.20M
YoY Change -69.54% -47.44% 4969.66%
% of Gross Profit 5837.53% 19754.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change
% of Gross Profit 0.0% 0.0%
Operating Expenses $2.322M $5.909M $11.20M
YoY Change -69.54% -47.24% 4969.66%
Operating Profit -$2.282M -$5.857M -$11.20M
YoY Change -69.5% -47.72% 4923.16%
Interest Expense $12.40K $9.123K -$20.90K
YoY Change -212.63% -143.65% 39.71%
% of Operating Profit
Other Income/Expense, Net $262.6K $26.28K $2.010K
YoY Change 1207.36%
Pretax Income -$2.019M -$5.831M -$11.22M
YoY Change -73.05% -48.04% 4615.35%
Income Tax $2.400K
% Of Pretax Income
Net Earnings -$2.019M -$5.831M -$11.22M
YoY Change -73.05% -48.04% 4615.35%
Net Earnings / Revenue -3042.09% -11158.14%
Basic Earnings Per Share -$0.01 -$0.03 -$0.05
Diluted Earnings Per Share -$0.01 -$0.03 -$52.11K
COMMON SHARES
Basic Shares Outstanding 230.5M shares 230.5M shares 215.4M shares
Diluted Shares Outstanding 230.5M shares 230.7M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.25K $21.42K $10.77K
YoY Change -78.18% 98.89% 109.53%
Cash & Equivalents $23.25K $21.42K $10.77K
Short-Term Investments
Other Short-Term Assets $1.180K $2.960K $13.06K
YoY Change 2.61% -77.34% 252.97%
Inventory
Prepaid Expenses
Receivables $66.38K $53.88K $2.000K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $90.81K $78.26K $25.83K
YoY Change -37.53% 202.98% 127.78%
LONG-TERM ASSETS
Property, Plant & Equipment $620.0K $620.0K $631.4K
YoY Change -1.13% -1.8% -2.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $679.7K $689.6K $631.4K
YoY Change 8.39% 9.23% -2.63%
TOTAL ASSETS
Total Short-Term Assets $90.81K $78.26K $25.83K
Total Long-Term Assets $679.7K $689.6K $631.4K
Total Assets $770.5K $767.9K $657.2K
YoY Change -0.26% 16.85% -0.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $316.5K $145.3K $190.8K
YoY Change 197.01% -23.82%
Accrued Expenses $39.87K $39.37K $11.78K
YoY Change 438.06% 234.21% -24.0%
Deferred Revenue
YoY Change
Short-Term Debt $13.72K $18.72K $83.72K
YoY Change -81.39% -77.64% -43.13%
Long-Term Debt Due $12.00K $42.00K $1.000M
YoY Change -95.8% 615.46%
Total Short-Term Liabilities $478.1K $736.1K $2.536M
YoY Change -43.52% -70.97% 87.33%
LONG-TERM LIABILITIES
Long-Term Debt $1.332M $919.2K $579.8K
YoY Change 58.55% -29.47%
Other Long-Term Liabilities $20.70K $30.85K
YoY Change
Total Long-Term Liabilities $1.352M $950.1K $579.8K
YoY Change 63.87% -30.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $478.1K $736.1K $2.536M
Total Long-Term Liabilities $1.352M $950.1K $579.8K
Total Liabilities $1.831M $1.686M $3.115M
YoY Change 116.25% -45.88% 42.34%
SHAREHOLDERS EQUITY
Retained Earnings -$61.49M -$59.47M
YoY Change
Common Stock $160.4K $160.1K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.060M -$918.2K -$2.458M
YoY Change
Total Liabilities & Shareholders Equity $770.5K $767.9K $657.2K
YoY Change -0.26% 16.85% -0.39%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.019M -$5.831M -$11.22M
YoY Change -73.05% -48.04% 4615.35%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change
Cash From Operating Activities -$398.2K -$287.6K -$239.5K
YoY Change 113.8% 20.08% 0.31%
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 400.0K $290.0K 118.0K
YoY Change 41.84% 145.76% -50.1%
NET CHANGE
Cash From Operating Activities -398.2K -$287.6K -239.5K
Cash From Investing Activities
Cash From Financing Activities 400.0K $290.0K 118.0K
Net Change In Cash 1.820K $2.368K $0.00
YoY Change -98.1%
FREE CASH FLOW
Cash From Operating Activities -$398.2K -$287.6K -$239.5K
Capital Expenditures
Free Cash Flow -$287.6K
YoY Change

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10765 usd
CY2023Q1 PUBC Vendors Paid For On Behalf Of Company By Usmc
VendorsPaidForOnBehalfOfCompanyByUsmc
8320 usd
CY2022Q1 PUBC Vendors Paid For On Behalf Of Company By Usmc
VendorsPaidForOnBehalfOfCompanyByUsmc
2284 usd
CY2023Q1 PUBC Due To Affiliates Exchanged For Convertible Debt
DueToAffiliatesExchangedForConvertibleDebt
300000 usd
CY2023Q1 PUBC Director Compensation Accrued As Convertible Debt
DirectorCompensationAccruedAsConvertibleDebt
6000 usd
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2010-03-02
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-59474448 usd
CY2023Q1 PUBC Working Capital Deficit
WorkingCapitalDeficit
-657834 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5857077 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-287632 usd
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7845000 shares
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zCBl4eMn0IJ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_860_ziKbpZFHQnV9">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding-left: 0pt; text-align: justify"><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; padding-left: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and equity-based transactions at the date of the financial statements and the revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding-left: 0pt; text-align: justify"><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; padding-left: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company believes the following critical accounting policies affect its more significant judgments and estimates used in the preparation of the condensed consolidated financial statements. Significant estimates include the allowance for doubtful accounts, useful lives of property and equipment, deferred tax asset and valuation allowance, and assumptions used in the Black-Scholes valuation methods, such as expected volatility, risk-free interest rate, and expected dividend rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52256 usd
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
620000 usd
CY2022Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
0 usd
CY2022Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
12040 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
131441465 shares
CY2023Q1 us-gaap Area Of Land
AreaOfLand
700 sqft
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
3500 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
687164 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
687164 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
67164 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
67164 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
620000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
620000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
0 usd
CY2022Q1 us-gaap Depreciation
Depreciation
0 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
10500 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
10500 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
10500 usd
CY2023Q1 PUBC Operating Lease Operating Cash Flows Liability Reduction
OperatingLeaseOperatingCashFlowsLiabilityReduction
9538 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
69649 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
39372 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
30852 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
4500 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
4500 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4500 usd
CY2022Q1 PUBC Operating Lease Operating Cash Flows Liability Reduction
OperatingLeaseOperatingCashFlowsLiabilityReduction
4107 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
28434 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15504 usd
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13223 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
42000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
31500 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
73500 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3276 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
70224 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
145349 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
30078 usd
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
55030 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
57226 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
35627 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
28134 usd
CY2023Q1 PUBC Account Payable And Accrued Liabilities Current
AccountPayableAndAccruedLiabilitiesCurrent
236006 usd
CY2022Q4 PUBC Account Payable And Accrued Liabilities Current
AccountPayableAndAccruedLiabilitiesCurrent
115478 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
117795000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.39
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
117795000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.39
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
128688187 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.53
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
128688187 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.53
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
128688187 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y8M4D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.53
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
99688187 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P10Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
vest over various terms from the grant date to five years
CY2023Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
300000 usd
CY2022Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
118000 usd
CY2020Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2Y
CY2023Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd

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