2024 Q2 Form 10-K Financial Statement

#000101738624000116 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $1.350K $5.970K $48.02K
YoY Change -92.31% -71.75% 2.61%
Cost Of Revenue $341.00 $1.220K $12.43K
YoY Change -92.79% -78.63% -1.93%
Gross Profit $1.009K $4.750K $35.60K
YoY Change -92.13% -69.2% 4.3%
Gross Profit Margin 74.74% 79.56% 74.12%
Selling, General & Admin $93.73K $84.18K $395.4K
YoY Change -16.73% -59.85% -21.61%
% of Gross Profit 9289.4% 1772.21% 1110.72%
Research & Development $0.00 $8.501K
YoY Change -100.0% -29.59%
% of Gross Profit 0.0% 23.88%
Depreciation & Amortization $240.00 $240.00 $984.00
YoY Change 0.0% 9.09% 83.58%
% of Gross Profit 23.79% 5.05% 2.76%
Operating Expenses $93.73K $84.17K $403.9K
YoY Change -20.86% -60.44% -21.79%
Operating Profit -$92.72K -$79.42K -$368.3K
YoY Change -12.21% -59.76% -23.64%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$987.00 -$1.990K -$206.00
YoY Change -286.23% 541.94% -115.37%
Pretax Income -$93.71K -$81.41K -$368.5K
YoY Change -10.83% -58.81% -23.38%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$93.71K -$81.41K -$368.5K
YoY Change -10.83% -58.81% -23.38%
Net Earnings / Revenue -6941.33% -1363.65% -767.26%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 78.07M shares 79.86M shares 93.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $5.990K $5.990K
YoY Change -100.0% -95.67% -95.67%
Cash & Equivalents $5.987K
Short-Term Investments
Other Short-Term Assets $1.090K $1.090K $1.090K
YoY Change -6.84% -96.45% -96.45%
Inventory $10.23K $13.66K $13.66K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $11.32K $20.73K $20.73K
YoY Change -59.7% -89.45% -89.45%
LONG-TERM ASSETS
Property, Plant & Equipment $2.995K $3.486K $3.490K
YoY Change -24.71% -22.01% -21.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.995K $3.486K $3.490K
YoY Change -24.71% -22.01% -21.92%
TOTAL ASSETS
Total Short-Term Assets $11.32K $20.73K $20.73K
Total Long-Term Assets $2.995K $3.486K $3.490K
Total Assets $14.32K $24.22K $24.22K
YoY Change -55.36% -87.95% -87.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.10K $45.88K $45.88K
YoY Change -47.64% 2831.57% 2822.29%
Accrued Expenses $14.95K $14.56K $112.7K
YoY Change 35.19% 10.38% 940.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $328.4K $173.1K $173.1K
YoY Change 489.61% 576.36% 576.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $328.4K $173.1K $173.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $328.4K $173.1K $173.1K
YoY Change 489.61% 576.36% 576.4%
SHAREHOLDERS EQUITY
Retained Earnings -$1.480M -$1.305M
YoY Change 28.09% 39.34%
Common Stock $78.08K $79.86K
YoY Change -10.1% -28.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$314.1K -$148.9K -$148.9K
YoY Change
Total Liabilities & Shareholders Equity $14.32K $24.22K $24.22K
YoY Change -55.36% -87.95% -87.95%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$93.71K -$81.41K -$368.5K
YoY Change -10.83% -58.81% -23.38%
Depreciation, Depletion And Amortization $240.00 $240.00 $984.00
YoY Change 0.0% 9.09% 83.58%
Cash From Operating Activities -$25.16K -$7.030K -$173.6K
YoY Change -36.22% -89.77% -42.5%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $41.25K
YoY Change -81.67%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.04K 5.250K $41.25K
YoY Change -94.85% -82.22%
NET CHANGE
Cash From Operating Activities -25.16K -7.030K -173.6K
Cash From Investing Activities 0.000
Cash From Financing Activities 24.04K 5.250K $41.25K
Net Change In Cash -1.120K -1.780K -$132.3K
YoY Change -97.16% -105.56% 74.79%
FREE CASH FLOW
Cash From Operating Activities -$25.16K -$7.030K -$173.6K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$7.030K -$173.6K
YoY Change -89.96% -43.59%

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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
274077 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
196698 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
274077 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
196698 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1305128 usd
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000 shares
CY2023 us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
one (1) voting class of stock. Each share of Preferred Stock shall have ten thousand (10,000) votes
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3200 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3200 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
23570 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
41250 usd
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.75
CY2023 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
3,200
CY2023 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
32,000,000
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
79862655 shares
CY2023 scth Warrants Disclosure
WarrantsDisclosure
<p id="xdx_802_ecustom--WarrantsDisclosure_zjqZXpUfQbHl" style="font: 10pt Times New Roman; margin: 0; text-align: justify"><b>NOTE 6 – WARRANTS</b></p> <p style="font: 10pt Times New Roman; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman; margin: 0; text-align: justify">As of December 31, 2023, the Company had no warrants issued or outstanding.</p> <p style="font: 10pt Times New Roman; margin: 0"> </p>
CY2023Q4 scth Accrued Payroll
AccruedPayroll
58500 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
4590 usd
CY2023 scth Patent Royalty Contribution
PatentRoyaltyContribution
2929 usd
CY2024Q2 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
5000 shares
CY2024Q2 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
5000 usd
CY2024Q2 us-gaap Share Price
SharePrice
1.00
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100000 shares
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3000 usd
CY2024Q1 us-gaap Share Price
SharePrice
0.03
CY2024Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
200 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
1795774 shares

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