$RTON
Right On Brands Inc

2023 Q4 Form 10-Q Financial Statement

#000147793223008411 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $342.2K $328.9K
YoY Change 31.66% 36.42%
Cost Of Revenue $158.9K $141.9K
YoY Change 5.8% 2.21%
Gross Profit $183.3K $187.1K
YoY Change 67.07% 82.81%
Gross Profit Margin 53.55% 56.87%
Selling, General & Admin $196.4K $231.2K
YoY Change 14.6% 27.67%
% of Gross Profit 107.18% 123.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.400K $1.400K
YoY Change 0.0% 0.0%
% of Gross Profit 0.76% 0.75%
Operating Expenses $197.8K $232.5K
YoY Change 14.48% 27.46%
Operating Profit -$14.56K -$45.49K
YoY Change -76.93% -43.23%
Interest Expense $5.441K $3.110K
YoY Change 91.25% -8.72%
% of Operating Profit
Other Income/Expense, Net -$206.4K -$46.26K
YoY Change 3218.83% 190.58%
Pretax Income -$221.0K -$91.75K
YoY Change 218.8% -4.48%
Income Tax
% Of Pretax Income
Net Earnings -$221.0K -$91.75K
YoY Change 218.81% -4.47%
Net Earnings / Revenue -64.58% -27.9%
Basic Earnings Per Share -$0.01 $0.00
Diluted Earnings Per Share -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 25.50M shares 6.375B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.37K $20.30K
YoY Change 296.86% 64.91%
Cash & Equivalents $59.37K $20.30K
Short-Term Investments
Other Short-Term Assets $3.221K $3.221K
YoY Change 0.0% 0.0%
Inventory $101.2K $136.4K
Prepaid Expenses
Receivables $12.55K $24.43K
Other Receivables $0.00 $0.00
Total Short-Term Assets $176.3K $184.4K
YoY Change 40.45% 0.34%
LONG-TERM ASSETS
Property, Plant & Equipment $5.685K $7.085K
YoY Change -49.62% -44.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $35.45K $37.76K
YoY Change -40.61% -43.66%
TOTAL ASSETS
Total Short-Term Assets $176.3K $184.4K
Total Long-Term Assets $35.45K $37.76K
Total Assets $211.8K $222.2K
YoY Change 14.33% -11.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.60K $87.75K
YoY Change -0.82% 18.27%
Accrued Expenses $107.4K $107.1K
YoY Change -12.57% 23.13%
Deferred Revenue $12.50K
YoY Change
Short-Term Debt $489.5K $448.1K
YoY Change 8.27% -6.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.013M $855.3K
YoY Change 45.23% 24.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.540K $7.570K
YoY Change -81.75% -75.32%
Total Long-Term Liabilities $4.540K $7.570K
YoY Change -81.75% -75.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.013M $855.3K
Total Long-Term Liabilities $4.540K $7.570K
Total Liabilities $1.018M $862.9K
YoY Change 40.86% 20.01%
SHAREHOLDERS EQUITY
Retained Earnings -$16.15M -$15.93M
YoY Change 2.43% 1.66%
Common Stock $25.50K $25.50K
YoY Change -99.56% -99.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$806.2K -$665.1K
YoY Change
Total Liabilities & Shareholders Equity $211.8K $222.2K
YoY Change 14.33% -11.42%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$221.0K -$91.75K
YoY Change 218.81% -4.47%
Depreciation, Depletion And Amortization $1.400K $1.400K
YoY Change 0.0% 0.0%
Cash From Operating Activities $35.41K -$57.70K
YoY Change 1.06% -33.39%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
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 3.670K 34.14K
YoY Change -111.33% -59.21%
NET CHANGE
Cash From Operating Activities 35.41K -57.70K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 3.670K 34.14K
Net Change In Cash 39.08K -23.56K
YoY Change 1374.72% 701.36%
FREE CASH FLOW
Cash From Operating Activities $35.41K -$57.70K
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
202101 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
65000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
54462 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
109968 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73733 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
92133 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-13023 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-15744 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33322 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28056 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20299 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12312 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
485 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
rton Original Issuance Discount On Note Payable Non Cash
OriginalIssuanceDiscountOnNotePayableNonCash
14000 usd
rton Original Issuance Discount On Note Payable Non Cash
OriginalIssuanceDiscountOnNotePayableNonCash
0 usd
rton Discount On Note Payable From Derivative Liability Non Cash
DiscountOnNotePayableFromDerivativeLiabilityNonCash
70000 usd
rton Discount On Note Payable From Derivative Liability Non Cash
DiscountOnNotePayableFromDerivativeLiabilityNonCash
0 usd
rton Discount On Convertible Note Payable From Derivative Liability Non Cash
DiscountOnConvertibleNotePayableFromDerivativeLiabilityNonCash
50971 usd
rton Discount On Convertible Note Payable From Derivative Liability Non Cash
DiscountOnConvertibleNotePayableFromDerivativeLiabilityNonCash
0 usd
rton Settlement Of Derivative Liability Non Cash
SettlementOfDerivativeLiabilityNonCash
27283 usd
rton Settlement Of Derivative Liability Non Cash
SettlementOfDerivativeLiabilityNonCash
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6805 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
rton Common Stock Issued For Common Stock Payable Non Cash
CommonStockIssuedForCommonStockPayableNonCash
0 usd
rton Common Stock Issued For Common Stock Payable Non Cash
CommonStockIssuedForCommonStockPayableNonCash
36820 usd
rton Settlement Of Principal And Interest Non Cash
SettlementOfPrincipalAndInterestNonCash
0 usd
rton Settlement Of Principal And Interest Non Cash
SettlementOfPrincipalAndInterestNonCash
33185 usd
rton Original Issuance Discount On Notes Payable Non Cash
OriginalIssuanceDiscountOnNotesPayableNonCash
0 usd
rton Original Issuance Discount On Notes Payable Non Cash
OriginalIssuanceDiscountOnNotesPayableNonCash
16991 usd
CY2023Q3 us-gaap Cumulative Earnings Deficit
CumulativeEarningsDeficit
15932000 usd
us-gaap Other Income
OtherIncome
171000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
87000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
735000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated 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 revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
rton Description Of Accounts Receivables Average Collection Period
DescriptionOfAccountsReceivablesAverageCollectionPeriod
Normal accounts receivable are due 30 to 45 days after the issuance of the invoice. Receivables past due more than 60 days are considered delinquent
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
136445 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
116115 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
136445 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
116115 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
113034 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
144630 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
105949 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
134745 usd
CY2023Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
7085 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
9885 usd
us-gaap Depreciation
Depreciation
2800 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
21442 usd
us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
247051 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
36811 usd
CY2023Q3 rton Net Amounts Of Liabilities Presented
NetAmountsOfLiabilitiesPresented
210240 usd
CY2023 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
182051 usd
CY2023 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 usd
CY2023Q1 rton Net Amounts Of Liabilities Presented
NetAmountsOfLiabilitiesPresented
182051 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
49435 usd
CY2023Q3 us-gaap Minority Interest
MinorityInterest
24437 usd
CY2023Q3 us-gaap Investments
Investments
101470 usd
CY2023 rton Net Stock And Debt Shares
NetStockAndDebtShares
25000000 shares
rton Net Stock And Debt Shares
NetStockAndDebtShares
26847933 shares
CY2022 rton Common Stock Description
CommonStockDescription
approved a reverse split of the Company’s common stock in the amount of 250 for 1. The reverse split was to be effective during January 2023
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
93000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
13358 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
25025 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
38383 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
7710 usd
CY2023Q3 rton Present Value Of Remaining Lease Payments
PresentValueOfRemainingLeasePayments
30673 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
23106 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
7567 usd
rton Remaining Lease Term Years
RemainingLeaseTermYears
P1Y5M1D
CY2023Q3 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.0500 pure

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