2023 Q1 Form 10-K Financial Statement
#000168316823002515 Filed on April 18, 2023
Income Statement
Concept | 2023 Q1 | 2023 | 2022 Q1 |
---|---|---|---|
Revenue | $6.300K | $0.00 | |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $28.49K | ||
YoY Change | 3802.74% | ||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $28.49K | $731.00 | |
YoY Change | 3802.74% | ||
Operating Profit | |||
YoY Change | |||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$22.19K | ||
YoY Change | 2939.73% | ||
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$22.19K | -$22.19K | -$732.00 |
YoY Change | 2931.42% | 2939.73% | |
Net Earnings / Revenue | -352.22% | ||
Basic Earnings Per Share | -$0.01 | $0.00 | |
Diluted Earnings Per Share | -$0.01 | $0.00 | |
COMMON SHARES | |||
Basic Shares Outstanding | 3.568M shares | 2.878M shares | 2.500M shares |
Diluted Shares Outstanding | 2.878M shares | 2.500M shares |
Balance Sheet
Concept | 2023 Q1 | 2023 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $23.07K | $51.00 | |
Short-Term Investments | |||
Other Short-Term Assets | $24.76K | ||
YoY Change | 49420.0% | ||
Inventory | |||
Prepaid Expenses | $1.687K | $0.00 | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $24.76K | $24.76K | $51.00 |
YoY Change | 48441.18% | 49420.0% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | $32.45K | $40.65K | |
YoY Change | -20.16% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $32.45K | $32.45K | $40.65K |
YoY Change | -20.16% | -20.17% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $24.76K | $24.76K | $51.00 |
Total Long-Term Assets | $32.45K | $32.45K | $40.65K |
Total Assets | $57.21K | $57.21K | $40.70K |
YoY Change | 40.56% | 40.57% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $4.280K | ||
YoY Change | 2277.78% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | ||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $4.280K | $4.280K | $180.00 |
YoY Change | 2277.78% | 2277.78% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $54.24K | ||
YoY Change | 32.29% | ||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $54.24K | $54.24K | $41.00K |
YoY Change | 32.3% | 32.29% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.280K | $4.280K | $180.00 |
Total Long-Term Liabilities | $54.24K | $54.24K | $41.00K |
Total Liabilities | $58.52K | $58.52K | $41.18K |
YoY Change | 42.12% | 42.11% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$22.92K | -$732.00 | |
YoY Change | 3031.28% | ||
Common Stock | $357.00 | $250.00 | |
YoY Change | 42.8% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$1.316K | -$1.320K | -$481.00 |
YoY Change | |||
Total Liabilities & Shareholders Equity | $57.21K | $57.21K | $40.70K |
YoY Change | 40.56% | 40.57% |
Cashflow Statement
Concept | 2023 Q1 | 2023 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$22.19K | -$22.19K | -$732.00 |
YoY Change | 2931.42% | 2939.73% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$11.58K | -$551.00 | |
YoY Change | 2005.64% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | ||
YoY Change | -100.0% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | $0.00 | -$40.65K | |
YoY Change | -100.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $21.36K | ||
YoY Change | 8442.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $34.60K | $41.25K | |
YoY Change | -16.12% | ||
NET CHANGE | |||
Cash From Operating Activities | -$11.58K | -$551.00 | |
Cash From Investing Activities | $0.00 | -$40.65K | |
Cash From Financing Activities | $34.60K | $41.25K | |
Net Change In Cash | $23.02K | $51.00 | |
YoY Change | 45936.0% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$11.58K | -$551.00 | |
Capital Expenditures | $0.00 | ||
Free Cash Flow | -$11.58K | ||
YoY Change | -71.89% |
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<p id="xdx_84F_eus-gaap--UseOfEstimates_zfYU2pIEUHYd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86C_z9O1HfZyYJg9">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | |
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_z2CKecPIFXdd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Risks and Uncertainties</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management expects that its business will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business and the duration for which it may have an impact cannot be determined at this time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
CY2022Q1 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
2500000 | shares |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
250 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2667500 | shares |
CY2022Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
2667500 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3292750 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3292750 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3567750 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3567750 | shares |
CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
4660 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
154 | usd |
CY2023Q1 | NONE |
Deferred Related Party Accruals
DeferredRelatedPartyAccruals
|
0 | usd |
CY2022Q1 | NONE |
Deferred Related Party Accruals
DeferredRelatedPartyAccruals
|
0 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4660 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
41000 | usd |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
41000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
8548 | usd |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
352 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
32452 | usd |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
40648 | usd |
CY2023Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
4813 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-4813 | usd |
CY2022Q1 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-154 | usd |
CY2023 | NONE |
Related Party Accruals
RelatedPartyAccruals
|
0 | usd |
CY2022Q1 | NONE |
Related Party Accruals
RelatedPartyAccruals
|
0 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
4813 | usd |
CY2022Q1 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
154 | usd |