$RLBD
Real Brands Inc

2023 Q3 Form 10-Q Financial Statement

#000126493123000046 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $20.25K
YoY Change 2575.03%
Cost Of Revenue $47.36K $20.25K
YoY Change 13400.0%
Gross Profit -$47.36K $0.00
YoY Change -5847.57% -100.0%
Gross Profit Margin 0.0%
Selling, General & Admin $150.0K $155.0K
YoY Change -33.8% -29.5%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.62K $20.62K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $147.0K $155.0K
YoY Change -35.12% -29.5%
Operating Profit -$194.4K -$155.0K
YoY Change -13.9% -29.3%
Interest Expense -$10.00K -$12.81K
YoY Change 20.92% 88.38%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$230.0K -$188.4K
YoY Change -9.68% -23.61%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $229.4K $188.4K
YoY Change -190.07% -176.39%
Net Earnings / Revenue 930.58%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 2.691B shares 2.691B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $122.3K
YoY Change -100.0% 1261.36%
Cash & Equivalents $987.00 $122.3K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $987.00 $122.3K
YoY Change -88.14% 1261.23%
LONG-TERM ASSETS
Property, Plant & Equipment $1.096M $1.116M
YoY Change -7.0% -6.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $130.0K
YoY Change
Other Assets $0.00 $530.00
YoY Change -100.0% 0.0%
Total Long-Term Assets $1.221M $1.117M
YoY Change 3.61% -6.88%
TOTAL ASSETS
Total Short-Term Assets $987.00 $122.3K
Total Long-Term Assets $1.221M $1.117M
Total Assets $1.222M $1.239M
YoY Change 2.96% 2.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $570.0K $504.7K
YoY Change 0.48% 0.77%
Accrued Expenses $865.7K $801.7K
YoY Change 40.96% 44.08%
Deferred Revenue
YoY Change
Short-Term Debt $840.0K $811.5K
YoY Change 58.91% 96.2%
Long-Term Debt Due $30.00K $24.65K
YoY Change
Total Short-Term Liabilities $2.346M $2.188M
YoY Change 37.19% 48.77%
LONG-TERM LIABILITIES
Long-Term Debt $82.79K $89.16K
YoY Change -36.98% -34.97%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $82.79K $89.16K
YoY Change -36.98% -34.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.346M $2.188M
Total Long-Term Liabilities $82.79K $89.16K
Total Liabilities $2.429M $2.277M
YoY Change 31.9% 41.63%
SHAREHOLDERS EQUITY
Retained Earnings -$13.74M -$13.52M
YoY Change 10.53% 10.95%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.206M -$1.038M
YoY Change
Total Liabilities & Shareholders Equity $1.222M $1.239M
YoY Change 2.96% 2.55%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $229.4K $188.4K
YoY Change -190.07% -176.39%
Depreciation, Depletion And Amortization $20.62K $20.62K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$20.00K -$23.26K
YoY Change -125.69% -88.04%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$130.0K
YoY Change
Cash From Investing Activities -$130.0K
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 20.00K 142.0K
YoY Change -125.48% -26.14%
NET CHANGE
Cash From Operating Activities -20.00K -23.26K
Cash From Investing Activities -130.0K
Cash From Financing Activities 20.00K 142.0K
Net Change In Cash -130.0K 118.7K
YoY Change 19900.0% -5172.65%
FREE CASH FLOW
Cash From Operating Activities -$20.00K -$23.26K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_842_eus-gaap--UseOfEstimates_zRYH6oKRl3Wa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Use of estimates and judgments</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with 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 consolidated financial statements and the reported amounts of expenses during the reporting period. Key areas of estimation include the estimated useful lives of property, plant, equipment and intangibles assets and liabilities, income taxes, and the valuation of stock-based compensation. Due to the uncertainty inherent in such estimates, actual results may differ from the Company’s estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2021Q4 RLBD Year Of Depreciation For Improvements
YearOfDepreciationForImprovements
P15Y
CY2023Q2 us-gaap Other Real Estate Non Covered Period Increase Decrease
OtherRealEstateNonCoveredPeriodIncreaseDecrease
26194 usd
us-gaap Depreciation
Depreciation
41236 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_846_eus-gaap--ConcentrationRiskCreditRisk_z8IRDrbBXcCh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Concentrations of Credit Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company, from time to time during the years covered by these consolidated financial statements, may have bank balances in excess of its insured limits. Management has deemed this a normal business risk.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p>
CY2020Q1 RLBD Shares Issued Of Aquisition Company
SharesIssuedOfAquisitionCompany
2000000 shares
CY2020Q1 RLBD Cash For Building Purchase
CashForBuildingPurchase
25000 usd
CY2020Q1 RLBD Mortgage Assumption
MortgageAssumption
189916 usd
CY2020Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
25000 usd
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
475000 usd
CY2021Q4 RLBD Year Of Depreciation For Improvements
YearOfDepreciationForImprovements
P15Y
us-gaap Depreciation And Amortization
DepreciationAndAmortization
15042 usd
CY2021Q4 RLBD Year Of Depreciation For Improvements
YearOfDepreciationForImprovements
P15Y
us-gaap Other Real Estate Non Covered Period Increase Decrease
OtherRealEstateNonCoveredPeriodIncreaseDecrease
26194 usd
us-gaap Depreciation
Depreciation
41236 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
500000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
94654420 shares
CY2023Q2 us-gaap Option Indexed To Issuers Equity Indexed Shares
OptionIndexedToIssuersEquityIndexedShares
300173307 shares
CY2023Q2 us-gaap Ownshare Lending Arrangement Shares Outstanding
OwnshareLendingArrangementSharesOutstanding
31056914 shares
CY2022Q2 us-gaap Option Indexed To Issuers Equity Indexed Shares
OptionIndexedToIssuersEquityIndexedShares
154518887 shares
CY2022Q2 us-gaap Ownshare Lending Arrangement Shares Outstanding
OwnshareLendingArrangementSharesOutstanding
29312910 shares
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
475000 usd
CY2021Q4 RLBD Year Of Depreciation For Improvements
YearOfDepreciationForImprovements
P15Y
us-gaap Depreciation And Amortization
DepreciationAndAmortization
15042 usd
CY2023Q2 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
0 usd
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
50%
CY2023Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
0 usd
CY2023Q2 us-gaap Inventory Buildings And Improvements
InventoryBuildingsAndImprovements
475000 usd
CY2022Q4 us-gaap Inventory Buildings And Improvements
InventoryBuildingsAndImprovements
475000 usd
CY2023Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
785823 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
785823 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1260823 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1260823 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
144325 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
103089 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1116498 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1157734 usd
CY2015Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
71069 usd
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
801682 usd
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
52722 usd
CY2023Q2 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
200000 usd
us-gaap Interest Paid
InterestPaid
3881 usd
CY2023Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.07 pure
CY2023Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.07 pure
us-gaap Increase Decrease In Due To Other Related Parties
IncreaseDecreaseInDueToOtherRelatedParties
200000 usd
CY2021Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
7 pure
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.008139
CY2023Q1 RLBD Percentage Own Converted1
PercentageOwnConverted1
0.01 pure
CY2021Q4 RLBD Extended Maturity Date
ExtendedMaturityDate
P2Y
CY2023Q1 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
1 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.05
us-gaap Interest Expense
InterestExpense
52772 usd
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2690640226 shares
CY2023Q1 us-gaap Option Indexed To Issuers Equity Indexed Shares
OptionIndexedToIssuersEquityIndexedShares
6143628 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.007
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.007
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
655818 usd
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
0 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
122072 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
655818 usd
CY2018Q4 RLBD Officer Base Salary
OfficerBaseSalary
175000 usd
CY2023Q3 us-gaap Investment Owned Balance Shares
InvestmentOwnedBalanceShares
2206 shares
CY2023Q3 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
125000 usd
CY2023Q3 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
0.02 pure
CY2023Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
6618 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2206 shares

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