$QWTR
Quest Water Global, Inc.

2023 Q2 Form 10-K Financial Statement

#000149315223017485 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $150.9K $1.191M
YoY Change
% of Gross Profit
Research & Development $816.00 $3.280K
YoY Change -6.85% 11.87%
% of Gross Profit
Depreciation & Amortization $250.00 $333.00
YoY Change
% of Gross Profit
Operating Expenses $151.0K $1.192M
YoY Change 5.82% 127.17%
Operating Profit -$1.192M
YoY Change 127.17%
Interest Expense -$6.530K -$20.61K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$151.0K -$1.192M
YoY Change 5.82% 127.17%
Income Tax
% Of Pretax Income
Net Earnings -$157.6K -$1.212M
YoY Change 10.4% 279.01%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 131.9M shares 131.9M shares 105.9M shares
Diluted Shares Outstanding 131.9M shares 105.9M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $4.650K $1.090K
YoY Change
Inventory
Prepaid Expenses $4.647K $1.094K
Receivables
Other Receivables
Total Short-Term Assets $4.647K $1.094K $1.090K
YoY Change -21.36% -74.12%
LONG-TERM ASSETS
Property, Plant & Equipment $917.00 $1.167K $1.170K
YoY Change -35.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $917.00 $1.167K $1.170K
YoY Change -89.38% -83.84%
TOTAL ASSETS
Total Short-Term Assets $4.647K $1.094K $1.090K
Total Long-Term Assets $917.00 $1.167K $1.170K
Total Assets $5.564K $2.261K $2.260K
YoY Change -61.75% -80.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.39K $37.70K
YoY Change
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 $1.581M $1.275M
YoY Change
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 $1.581M $1.275M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.581M $1.275M $1.275M
YoY Change -60.21% -65.37%
SHAREHOLDERS EQUITY
Retained Earnings -$11.58M -$11.27M
YoY Change 12.49% 12.7%
Common Stock $132.00 $129.00
YoY Change 55.29% 51.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.575M -$1.273M -$1.273M
YoY Change
Total Liabilities & Shareholders Equity $5.564K $2.261K $2.260K
YoY Change -61.75% -80.25%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$157.6K -$1.212M
YoY Change 10.4% 279.01%
Depreciation, Depletion And Amortization $250.00 $333.00
YoY Change
Cash From Operating Activities $0.00 -$561.6K
YoY Change 6.27%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.500K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$1.500K
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 $558.9K
YoY Change 5.85%
NET CHANGE
Cash From Operating Activities 0.000 -$561.6K
Cash From Investing Activities 0.000 -$1.500K
Cash From Financing Activities $558.9K
Net Change In Cash 0.000 -$4.227K
YoY Change 766.19%
FREE CASH FLOW
Cash From Operating Activities $0.00 -$561.6K
Capital Expenditures $0.00 $1.500K
Free Cash Flow $0.00 -$563.1K
YoY Change 6.56%

Facts In Submission

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QUEST WATER GLOBAL, INC.
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<p id="xdx_84B_eus-gaap--UseOfEstimates_zXGiSxgBFkE8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zA78pmLrLGLe">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances. 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: 0.5in; 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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.10
CY2022Q4 us-gaap Liability For Uncertain Tax Positions Current
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2022 us-gaap Prior Period Reclassification Adjustment Description
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<p id="xdx_842_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zvZmbJMKSxq" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86C_zOIHBmS1i7zf">Correction of an error in previously issued financial statement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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: 35.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows ASC Topic 250, <i>Accounting changes and error corrections </i>when accounting for accounting changes and errors in previously issued financial statements. The former is a change in accounting principle, accounting estimates, or in reporting entity. The latter is an error in recognition, measurement, presentation or disclosure in financial statements arising from mathematical mistakes, mistakes in the application of generally accepted accounting principles or oversight or misuse of facts that existed at the time the financial statements were prepared. This guidance requires retroactive application unless it is impractical to do so, in which case reasons for the impracticality must be stated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.10
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.10
CY2022Q4 us-gaap Property Plant And Equipment Gross
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1500 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2022Q3 us-gaap Shares Issued Price Per Share
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CY2022Q3 us-gaap Common Stock Shares Authorized
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CY2022Q3 us-gaap Common Stock Shares Authorized
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500000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.000001
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.065
CY2022 QWTR Issued And Outstanding Common Stock Percentage
IssuedAndOutstandingCommonStockPercentage
0.10 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y6M
CY2022 us-gaap Share Based Compensation
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629647 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2200000 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
3.0667 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0317 pure
CY2021Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
50206 usd
CY2021Q4 us-gaap Long Term Investments
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CY2021Q4 QWTR Due To Related Company Current
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71200 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10061032 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-524586 usd
CY2021 QWTR Decrease In Equity Of Investment
DecreaseInEquityOfInvestment
20587 usd
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-319867 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-319867 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 QWTR Decrease In Equity Of Investment
DecreaseInEquityOfInvestment
20587 usd
CY2021 QWTR Increase Decrease In Due To Related Company
IncreaseDecreaseInDueToRelatedCompany
-112764 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-1212320 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
255000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
67000 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
30000 usd
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
24000 usd
CY2022 QWTR Income Tax Reconciliation Permanent Differences
IncomeTaxReconciliationPermanentDifferences
137000 usd
CY2021 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-15000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
148000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
106000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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1304000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1156000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1304000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1156000 usd

Files In Submission

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FilingSummary.xml Edgar Link unprocessable
R41.htm Edgar Link pending
0001493152-23-017485-index-headers.html Edgar Link pending
0001493152-23-017485-index.html Edgar Link pending
0001493152-23-017485.txt Edgar Link pending
0001493152-23-017485-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
MetaLinks.json Edgar Link pending
qwtr-20221231.xsd Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
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R40.htm Edgar Link pending
qwtr-20221231_cal.xml Edgar Link unprocessable
qwtr-20221231_def.xml Edgar Link unprocessable
qwtr-20221231_lab.xml Edgar Link unprocessable
qwtr-20221231_pre.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
R42.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending