$RTSL
Rapid Therapeutic Science Laboratories, Inc.

2022 Q3 Form 10-Q Financial Statement

#000139390522000302 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit Margin
Selling, General & Admin $345.7K $101.1K $762.1K
YoY Change -29.55% -80.82% 51.84%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.993K $5.993K $5.990K
YoY Change 8.37% 8.47% -66.78%
% of Gross Profit
Operating Expenses $372.9K $128.4K $789.4K
YoY Change -24.84% -75.9% 51.82%
Operating Profit -$372.9K -$128.4K -$789.4K
YoY Change -24.84% -75.89% 51.82%
Interest Expense $346.2K $765.6K -$713.3K
YoY Change -152.61% 23036.6% 5068.91%
% of Operating Profit
Other Income/Expense, Net $145.8K $91.54K -$77.05K
YoY Change -74.45% -2866.3%
Pretax Income -$227.1K -$36.84K -$1.580M
YoY Change -61.08% -93.13% 195.97%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$227.1K -$36.84K -$1.580M
YoY Change -61.08% -93.13% 195.97%
Net Earnings / Revenue
Basic Earnings Per Share -$0.03 $0.00 -$0.20
Diluted Earnings Per Share -$30.00K -$4.756K -$204.0K
COMMON SHARES
Basic Shares Outstanding 7.747M shares 7.747M shares 7.745M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $112.2K $32.99K
YoY Change -100.0% 134.06% -82.17%
Cash & Equivalents $0.00 $112.2K $32.99K
Short-Term Investments
Other Short-Term Assets $62.52K $66.90K $71.27K
YoY Change 21.09%
Inventory $175.0K $175.0K $175.1K
Prepaid Expenses $62.52K $66.90K
Receivables
Other Receivables
Total Short-Term Assets $237.6K $354.1K $279.3K
YoY Change -79.49% 64.92% -24.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.517M $1.523M $2.242M
YoY Change 116.71% 142.46% 265.34%
Goodwill
YoY Change
Intangibles $170.1K $170.1K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.049M $2.076M $2.412M
YoY Change 135.44% 160.04% 207.76%
TOTAL ASSETS
Total Short-Term Assets $237.6K $354.1K $279.3K
Total Long-Term Assets $2.049M $2.076M $2.412M
Total Assets $2.286M $2.430M $2.692M
YoY Change 12.7% 139.88% 132.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $858.2K $704.7K $1.200M
YoY Change 624.04% 442.46% 2569.91%
Accrued Expenses $182.2K $158.3K $136.9K
YoY Change 334.22% 313.97% 291.95%
Deferred Revenue
YoY Change
Short-Term Debt $2.492M $2.229M $1.942M
YoY Change 447.89% 8929.65% 7764.56%
Long-Term Debt Due $744.8K $706.7K $683.7K
YoY Change 162.53% 158.2% 2784.81%
Total Short-Term Liabilities $4.905M $4.861M $5.124M
YoY Change 139.81% 941.88% 3896.2%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $150.0K $150.0K
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $318.1K $338.5K $358.8K
YoY Change
Total Long-Term Liabilities $468.1K $488.5K $508.8K
YoY Change 212.04% 225.69% 239.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.905M $4.861M $5.124M
Total Long-Term Liabilities $468.1K $488.5K $508.8K
Total Liabilities $5.373M $5.349M $5.633M
YoY Change 144.74% 767.63% 1924.62%
SHAREHOLDERS EQUITY
Retained Earnings -$10.37M -$10.14M
YoY Change
Common Stock $7.747K $7.747K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $337.3K $337.3K
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.087M -$2.919M -$2.942M
YoY Change
Total Liabilities & Shareholders Equity $2.286M $2.430M $2.692M
YoY Change 12.7% 139.88% 132.92%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$227.1K -$36.84K -$1.580M
YoY Change -61.08% -93.13% 195.97%
Depreciation, Depletion And Amortization $5.993K $5.993K $5.990K
YoY Change 8.37% 8.47% -66.78%
Cash From Operating Activities -$165.4K -$250.5K -$383.8K
YoY Change -76.73% -40.66% -26.81%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$3.950K -$350.9K
YoY Change -100.0% -80.25% 1673.76%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$3.950K -$350.9K
YoY Change -100.0% -80.25% 1673.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.25K 333.6K 575.1K
YoY Change -96.79% 9.38% 150.06%
NET CHANGE
Cash From Operating Activities -165.4K -250.5K -383.8K
Cash From Investing Activities 0.000 -3.950K -350.9K
Cash From Financing Activities 53.25K 333.6K 575.1K
Net Change In Cash -112.2K 79.18K -159.5K
YoY Change -112.87% -157.76% -49.23%
FREE CASH FLOW
Cash From Operating Activities -$165.4K -$250.5K -$383.8K
Capital Expenditures $0.00 -$3.950K -$350.9K
Free Cash Flow -$165.4K -$246.5K -$32.93K
YoY Change -73.89% -38.69% -93.47%

Facts In Submission

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dei Entity Emerging Growth Company
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false
dei Document Period End Date
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2022-06-30
dei Document Type
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dei Document Quarterly Report
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
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Rapid Therapeutic Science Laboratories, Inc.
dei Entity Incorporation State Country Code
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NV
dei Entity Tax Identification Number
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
250000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
525127 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
39400 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
300000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
908727 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
535000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-80320 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-451228 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192484 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
499146 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
112164 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47918 usd
us-gaap Interest Paid
InterestPaid
3352 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
0 usd
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
892323 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
5215 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font:10pt Times New Roman;margin:0;text-indent:36pt;text-align:justify"><i>Use of Estimates</i> - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period.</p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;text-align:justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.</p>
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10138012 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1564502 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1214917 usd
CY2022Q2 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
41341 usd
CY2021Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
29355 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1523161 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1185562 usd
CY2022Q2 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
3086116 usd
CY2021Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
1533434 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
47113 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
98509 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
102792 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
107075 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
111358 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
77304 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
338542 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
382654 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
415846 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
338542 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares

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