2023 Q3 Form 10-Q Financial Statement

#000149315223024586 Filed on July 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $207.2K $66.38K $228.5K
YoY Change -8.32% -70.95% 661.6%
Cost Of Revenue $44.08K $26.61K $88.03K
YoY Change 28.4% -69.78% 464.66%
Gross Profit $163.2K $39.77K $140.5K
YoY Change -14.9% -71.68% 874.67%
Gross Profit Margin 78.73% 59.92% 61.47%
Selling, General & Admin $288.5K $2.322M $7.623M
YoY Change -96.5% -69.54% 1746.34%
% of Gross Profit 176.81% 5837.53% 5427.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change
% of Gross Profit 0.0% 0.0% 0.0%
Operating Expenses $290.5K $2.322M $7.623M
YoY Change -96.47% -69.54% 1746.3%
Operating Profit -$127.3K -$2.282M -$7.482M
YoY Change -98.42% -69.5% 1777.82%
Interest Expense $24.70K $12.40K -$11.01K
YoY Change -2475.19% -212.63% -64.59%
% of Operating Profit
Other Income/Expense, Net -$24.70K $262.6K
YoY Change
Pretax Income -$152.0K -$2.019M -$7.493M
YoY Change -98.11% -73.05% 1744.12%
Income Tax $2.400K
% Of Pretax Income
Net Earnings -$152.0K -$2.019M -$7.493M
YoY Change -98.11% -73.05% 1744.12%
Net Earnings / Revenue -73.36% -3042.09% -3279.67%
Basic Earnings Per Share $0.00 -$0.01 -$0.03
Diluted Earnings Per Share $0.00 -$0.01 -$32.68K
COMMON SHARES
Basic Shares Outstanding 230.9M shares 230.5M shares 229.3M shares
Diluted Shares Outstanding 231.2M shares 230.5M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.0K $23.25K $106.5K
YoY Change 765.62% -78.18% 726.45%
Cash & Equivalents $102.0K $23.25K $106.5K
Short-Term Investments
Other Short-Term Assets $14.54K $1.180K $1.150K
YoY Change 146.02% 2.61% 13.86%
Inventory
Prepaid Expenses
Receivables $100.3K $66.38K $37.70K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $216.8K $90.81K $145.4K
YoY Change -4.72% -37.53% 213.3%
LONG-TERM ASSETS
Property, Plant & Equipment $746.5K $620.0K $627.1K
YoY Change 19.86% -1.13% -2.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $796.3K $679.7K $627.1K
YoY Change 27.85% 8.39% -2.65%
TOTAL ASSETS
Total Short-Term Assets $216.8K $90.81K $145.4K
Total Long-Term Assets $796.3K $679.7K $627.1K
Total Assets $1.013M $770.5K $772.5K
YoY Change 19.14% -0.26% 11.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $273.9K $316.5K $106.6K
YoY Change 494.36% 197.01% -42.17%
Accrued Expenses $40.37K $39.87K $7.410K
YoY Change -43.9% 438.06% -56.82%
Deferred Revenue
YoY Change
Short-Term Debt $239.8K $13.72K $73.72K
YoY Change 276.27% -81.39% -35.74%
Long-Term Debt Due $13.00K $12.00K $0.00
YoY Change -56.67% -100.0%
Total Short-Term Liabilities $687.1K $478.1K $846.5K
YoY Change 12.31% -43.52% -26.25%
LONG-TERM LIABILITIES
Long-Term Debt $1.526M $1.332M $0.00
YoY Change 224.02% -100.0%
Other Long-Term Liabilities $10.41K $20.70K
YoY Change
Total Long-Term Liabilities $1.536M $1.352M $0.00
YoY Change 226.23% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $687.1K $478.1K $846.5K
Total Long-Term Liabilities $1.536M $1.352M $0.00
Total Liabilities $2.223M $1.831M $846.5K
YoY Change 105.35% 116.25% -66.89%
SHAREHOLDERS EQUITY
Retained Earnings -$61.65M -$61.49M
YoY Change
Common Stock $160.4K $160.4K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.210M -$1.060M -$74.05K
YoY Change
Total Liabilities & Shareholders Equity $1.013M $770.5K $772.5K
YoY Change 19.14% -0.26% 11.86%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$152.0K -$2.019M -$7.493M
YoY Change -98.11% -73.05% 1744.12%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change
Cash From Operating Activities -$214.7K -$398.2K -$186.2K
YoY Change -26.9% 113.8% -35.14%
INVESTING ACTIVITIES
Capital Expenditures $126.5K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$126.5K
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 420.0K 400.0K 282.0K
YoY Change 109.99% 41.84% -4.37%
NET CHANGE
Cash From Operating Activities -214.7K -398.2K -186.2K
Cash From Investing Activities -126.5K
Cash From Financing Activities 420.0K 400.0K 282.0K
Net Change In Cash 78.71K 1.820K 95.76K
YoY Change -183.96% -98.1% 1135.61%
FREE CASH FLOW
Cash From Operating Activities -$214.7K -$398.2K -$186.2K
Capital Expenditures $126.5K
Free Cash Flow -$341.3K
YoY Change

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25780 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19055 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
132309 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23248 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
106529 usd
PUBC Forgiveness Of Accounts Payable Due To Usmc
ForgivenessOfAccountsPayableDueToUsmc
-15853 usd
PUBC Vendors Paid For On Behalf Of Company By Usmc
VendorsPaidForOnBehalfOfCompanyByUsmc
8320 usd
PUBC Vendors Paid For On Behalf Of Company By Usmc
VendorsPaidForOnBehalfOfCompanyByUsmc
4282 usd
PUBC Expenses Paid For On Behalf Of Company By Usmc
ExpensesPaidForOnBehalfOfCompanyByUsmc
7533 usd
PUBC Due To Affiliates Exchanged For Convertible Debt
DueToAffiliatesExchangedForConvertibleDebt
884493 usd
PUBC Convertible Debt Converted To Common Stock
ConvertibleDebtConvertedToCommonStock
2464262 usd
PUBC Accrued Interested Converted To Common Stock
AccruedInterestedConvertedToCommonStock
108909 usd
PUBC Director Compensation Accrued As Convertible Debt Converted To Common Stock
DirectorCompensationAccruedAsConvertibleDebtConvertedToCommonStock
36000 usd
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2010-03-02
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-61493664 usd
CY2023Q2 PUBC Working Capital Deficit
WorkingCapitalDeficit
-387334 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-8138892 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-685807 usd
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
412533 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zBSe98pX6iMi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zfg44DIpO1V8">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118632 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
228476 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
620000 usd
CY2023Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2022Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
2643 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
2643 usd
CY2022Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
0 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
0 usd
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
135344297 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1595000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
135344297 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
59595000 shares
CY2023Q2 us-gaap Area Of Land
AreaOfLand
700 sqft
us-gaap Payments For Rent
PaymentsForRent
3500 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
687164 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
687164 usd
CY2023Q2 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
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
620000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
620000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
0 usd
CY2022Q2 us-gaap Depreciation
Depreciation
0 usd
us-gaap Depreciation
Depreciation
0 usd
us-gaap Depreciation
Depreciation
0 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
21000 usd
us-gaap Lease Cost
LeaseCost
21000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
21000 usd
PUBC Operating Lease Operating Cash Flows Liability Reduction
OperatingLeaseOperatingCashFlowsLiabilityReduction
19197 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
59699 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
39869 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20696 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
9000 usd
us-gaap Lease Cost
LeaseCost
9000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
9000 usd
PUBC Operating Lease Operating Cash Flows Liability Reduction
OperatingLeaseOperatingCashFlowsLiabilityReduction
8688 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7109 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7407 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
31500 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
31500 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
63000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2435 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
60565 usd
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
316496 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
30078 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
66595 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
57266 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
29466 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
28134 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
412557 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
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
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
117795000 shares
CY2022Q2 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
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
128688187 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.53
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
128688187 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y5M8D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.53
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
128688187 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P10Y
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.
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
705000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
410000 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd

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