$QREE
QUANTUM ENERGY INC.

2019 Q1 Form 10-K Financial Statement

#000143774921001123 Filed on January 25, 2021

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2018
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $90.00K $140.0K $330.0K
YoY Change -35.71% -79.1% -62.07%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $90.00K $140.0K $449.6K
YoY Change -35.71% -82.5% -65.68%
Operating Profit
YoY Change
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$90.00K -$140.0K -$449.6K
YoY Change -35.71% -82.5% -65.68%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$90.00K -$240.0K -$449.6K
YoY Change -62.5% -70.0% -65.68%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.29 -$0.67 -$1.34
COMMON SHARES
Basic Shares Outstanding 48.49M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $20.00K $20.00K
YoY Change -100.0% 0.0% 0.0%
Cash & Equivalents $1.578K $19.86K $20.00K
Short-Term Investments
Other Short-Term Assets $0.00 $40.00K $40.00K
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.578K $57.36K $60.00K
YoY Change -97.25% 186.82% 200.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $10.00K $10.00K
YoY Change 0.0% -92.31% -92.31%
Total Long-Term Assets $7.822K $7.822K $10.00K
YoY Change 0.0% -93.98% -92.31%
TOTAL ASSETS
Total Short-Term Assets $1.578K $57.36K $60.00K
Total Long-Term Assets $7.822K $7.822K $10.00K
Total Assets $9.400K $65.19K $70.00K
YoY Change -85.58% -56.54% -53.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.0K $50.00K $50.00K
YoY Change 400.0% 0.0% 0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $70.00K $10.00K $10.00K
YoY Change 600.0% 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $323.8K $55.06K $60.00K
YoY Change 488.05% -8.23% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $150.0K $150.0K
YoY Change -100.0% 1400.0% 1400.0%
Total Long-Term Liabilities $152.2K $150.0K
YoY Change 1421.98% 1400.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $323.8K $55.06K $60.00K
Total Long-Term Liabilities $152.2K $150.0K
Total Liabilities $323.8K $207.3K $210.0K
YoY Change 56.23% 245.44% 250.0%
SHAREHOLDERS EQUITY
Retained Earnings -$11.36M -$11.02M
YoY Change 3.1%
Common Stock $48.49K $47.36K
YoY Change 2.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$314.4K -$142.1K -$140.0K
YoY Change
Total Liabilities & Shareholders Equity $9.400K $65.19K $70.00K
YoY Change -85.58% -56.54% -53.33%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2018
OPERATING ACTIVITIES
Net Income -$90.00K -$240.0K -$449.6K
YoY Change -62.5% -70.0% -65.68%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $0.00 -$110.0K -$175.6K
YoY Change -100.0% 37.5% -7.57%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 130.0K 175.0K
YoY Change -100.0% 30.0% -39.66%
NET CHANGE
Cash From Operating Activities 0.000 -110.0K -175.6K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 0.000 130.0K 175.0K
Net Change In Cash 0.000 20.00K -614.0
YoY Change -100.0% 100.0% -103.07%
FREE CASH FLOW
Cash From Operating Activities $0.00 -$110.0K -$175.6K
Capital Expenditures
Free Cash Flow
YoY Change

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">NOTE <div style="display: inline; font-style: italic; font: inherit;">1</div> - NATURE OF OPERATIONS</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">QUANTUM ENERGY INC. (&#x201c;the Company&#x201d;) was incorporated under the name &#x201c;Boomers Cultural Development Inc.&#x201d; under the laws of the State of Nevada on <div style="display: inline; font-style: italic; font: inherit;"> February 5, 2004. </div>On <div style="display: inline; font-style: italic; font: inherit;"> May 18, 2006, </div>the Company changed its name to Quantum Energy, Inc.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company is a development stage diversified holding company with an emphasis in land holdings, refinery and fuel distribution.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company is domiciled in the Unites States of America and trades on the OTC market under the symbol QEGY.</div></div>
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2017 2018 2019
CY2019 us-gaap Operating Expenses
OperatingExpenses
341791
CY2018 us-gaap Operating Expenses
OperatingExpenses
449613
CY2019Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
4040000
CY2019 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
CY2018 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
99000
CY2019Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; text-decoration: underline;">Reclassifications </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Certain reclassifications have been made to the prior year financial statements in order to compare to the current year financial statement presentation. These reclassifications have <div style="display: inline; font-style: italic; font: inherit;">no</div> effect on net loss, total assets or accumulated deficit as previously reported.</div></div></div></div></div></div></div></div></div></div></div></div>
CY2018 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
125000
CY2019 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
CY2018 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
50000
CY2019 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
5000
CY2018 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
CY2019 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
60000
CY2018 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
CY2019 us-gaap Professional Fees
ProfessionalFees
273790
CY2018 us-gaap Professional Fees
ProfessionalFees
112978
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11359307
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11017516
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
83461
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
5.061
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
3.338
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0177
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0207
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1986666
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
745000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1000000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2113334
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4100000
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4845000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.31
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.32
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.61
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.40
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.40
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.33
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2018Q1 us-gaap Share Price
SharePrice
0.15
CY2018Q2 us-gaap Share Price
SharePrice
0.15
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P80D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P292D
CY2019 us-gaap Stock Issued1
StockIssued1
152198
CY2018 us-gaap Stock Issued1
StockIssued1
CY2018 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
CY2019 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
17272
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
-314396
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
-142075
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
84077
CY2018 us-gaap Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Asset Income Tax Expense
TaxCutsAndJobsActOf2017ChangeInTaxRateDeferredTaxAssetIncomeTaxExpense
522034
CY2018Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
10000000
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to long-lived asset impairments and stock-based compensation valuation. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.</div></div></div></div></div></div></div></div></div></div></div></div>
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2129802
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6229802
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
61607764
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
48383148

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