2023 Q2 Form 10-K Financial Statement

#000147237523000090 Filed on June 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2023
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $160.2K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $831.00 $3.420K
YoY Change -22.41% -3.09%
% of Gross Profit
Operating Expenses $160.2K $96.17K
YoY Change 826.66% -23.84%
Operating Profit -$160.2K -$96.17K
YoY Change 826.66% -23.84%
Interest Expense $18.51K $66.79K
YoY Change 19.26% 13.08%
% of Operating Profit
Other Income/Expense, Net -$25.40K -$41.16K
YoY Change 329.14% -35.5%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$185.6K -$137.3K
YoY Change 699.75% -29.79%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 277.1M shares 277.1M shares 277.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $67.75K $1.135K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $23.30K
Receivables
Other Receivables
Total Short-Term Assets $91.05K $1.135K
YoY Change 2082.5% -85.63%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $948.6K $5.404K
YoY Change 14826.04% -27.23%
TOTAL ASSETS
Total Short-Term Assets $91.05K $1.135K
Total Long-Term Assets $948.6K $5.404K
Total Assets $1.040M $6.539K
YoY Change 9775.6% -57.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.50K $75.15K
YoY Change 67.86% 19.23%
Accrued Expenses $76.97K $125.8K
YoY Change -13.35% 37.22%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $801.7K $776.8K
YoY Change 7.34% 17.61%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $801.7K $776.8K
Total Long-Term Liabilities $0.00
Total Liabilities $2.124M $1.129M
YoY Change 108.33% 12.84%
SHAREHOLDERS EQUITY
Retained Earnings -$2.258M -$2.072M
YoY Change 15.31% 7.1%
Common Stock $277.3K $277.1K
YoY Change 0.08% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.084M -$1.123M
YoY Change
Total Liabilities & Shareholders Equity $1.040M $6.539K
YoY Change 9775.6% -57.32%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$185.6K -$137.3K
YoY Change 699.75% -29.79%
Depreciation, Depletion And Amortization $831.00 $3.420K
YoY Change -22.41% -3.09%
Cash From Operating Activities -$121.2K -$76.16K
YoY Change 245.72% 8.93%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.629K -$1.398K
YoY Change -83.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $191.5K $76.06K
YoY Change 461.54% 2.42%
NET CHANGE
Cash From Operating Activities -$121.2K -$76.16K
Cash From Investing Activities -$3.629K -$1.398K
Cash From Financing Activities $191.5K $76.06K
Net Change In Cash $66.62K -$1.505K
YoY Change -6982.13% -64.69%
FREE CASH FLOW
Cash From Operating Activities -$121.2K -$76.16K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="margin: 0px; font-size: 10pt"> </p> <p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; font-size: 10pt"><b>NOTE 1 – NATURE OF OPERATIONS</b></p> <p style="margin-top: 0px; margin-bottom: 0px; font-size: 10pt"> </p> <p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; text-align: justify; font-size: 10pt">Regenerex Pharma, Inc., formerly Peptide Technologies, Inc. (the “Company” or “Regenerex”), was incorporated in the State of Nevada, United States of America, on November 18, 2005.  The Company’s business was to develop and market proprietary skincare products that were to be sold online. The majority of manufacturing, distribution, marketing, and sales operations were outsourced.  The Company’s attempt over the past four years to build a business that marketed skincare products online has not come to fruition, so management decided to change the business focus and look for other opportunities.</p> <p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; text-align: justify; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">On November 15, 2021, the Company entered into an Asset Purchase Agreement in which the Company purchased certain intellectual property in exchange for 150,000,000 shares of the Company’s common stock and up to $10,000,000 in contingent consideration to be paid at the rate of 15% of all gross revenues received from sales or investment money into the Company, payable on the 15<sup>th</sup> of the following month, for a period of 60 months.  The Company received all rights and title to proprietary wound healing technologies platforms and formulas involving the application of wound care protocols to treat all wounds, such as diabetic ulcers, pressure ulcers, burns and surgical wounds.  These unique products strategically position the Company to enter and capture a high proportionate market share in the U.S.</p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">Management has decided to focus on this new business development. The financial results for periods prior to the abandonment of the previous business line have been reflected in the accompanying statement of operations as discontinued operations as this change represented a strategic shift in our business that had a major effect on our operations and financial results. There were no assets or liabilities related to this area as of March 31, 2023 or 2022.</p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt"><i>Risks and Uncertainties</i></p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding the impacts of COVID-19, or other future pandemics on our business, results of operations, financial position and cash flows.</p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">The Company has a lack of revenue history and has had a limited history of operations with the new business focus.  No revenue has historically been derived from the assets purchased.  Regenerex can give no assurance of success or profitability to the Company’s investors.</p> <p style="margin: 0px; text-align: justify; font-size: 10pt">The Companies business is to develop and market Woundcare Healing products.  The Company has three technologies for different types of wound conditions:</p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tbody> <tr> <td style="width: 0.5in; vertical-align: top"><p style="margin: 0px; font-size: 10pt"> </p></td> <td style="width: 0.5in; vertical-align: top"><p style="margin: 0px; font-size: 10pt"><span style="text-align: justify; text-indent: -24px; float: none">●</span></p></td> <td style="text-align: justify; vertical-align: top"><p style="margin: 0px; font-size: 10pt"><span style="text-decoration: underline">The first is for closing chronic wounds,</span></p></td> </tr> <tr> <td style="width: 0.5in; vertical-align: top"><p style="margin: 0px; font-size: 10pt"> </p></td> <td style="width: 0.5in; vertical-align: top"><p style="margin: 0px; font-size: 10pt"><span style="text-align: justify; text-indent: -24px; float: none">●</span></p></td> <td style="text-align: justify; vertical-align: top"><p style="margin: 0px; font-size: 10pt"><span style="text-decoration: underline">the second is for accelerating closure of acute or surgical wounds, and</span></p></td> </tr> <tr> <td style="width: 0.5in; vertical-align: top"><p style="margin: 0px; font-size: 10pt"> </p></td> <td style="width: 0.5in; vertical-align: top"><p style="margin: 0px; font-size: 10pt"><span style="text-align: justify; text-indent: -24px; float: none">●</span></p></td> <td style="text-align: justify; vertical-align: top"><p style="margin: 0px; font-size: 10pt"><span style="text-decoration: underline">the third solves the issue on contamination of all types of wounds including the destruction of biofilms</span>.</p></td> </tr> </tbody> </table> <p style="text-align: justify; margin-top: 0px; margin-bottom: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">The current product technology provides the Company with a number of complete wound care protocols to treat all wounds, such as diabetic ulcers, pressure ulcers, burns and surgical wounds.  These unique products strategically position the Company to enter and capture a high proportionate market share in the U.S. and global markets.</p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">Currently, there are no products available on the market that are successful in healing chronic, non-healing wounds through the down regulation of proteases.  Management believes that this will provide the Company with a distinct advantage over other companies providing services in this sector.</p> <p style="margin-top: 0pt; margin-bottom: 0pt"><span class="adv_highlightanchor adv_pagination" id="page_19"/></p> <p style="margin: 0; font-size: 10pt"> </p> <p style="margin: 0; font-size: 10pt"/> <p style="margin: 0px; text-align: justify; font-size: 10pt">The wound care healing space is well suited for Home Care service providers that are funded by the US Government.  The majority of manufacturing and distribution will be outsourced.  However, strategic planning and development will be performed internally by the Company.</p>
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