2022 Q4 Form 10-K Financial Statement

#000149315223009613 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021
Revenue $212.3K $548.1K $383.2K
YoY Change 749.2% 43.02% 52.93%
Cost Of Revenue $183.8K $454.1K $307.7K
YoY Change 818.75% 47.56% 31.83%
Gross Profit $28.55K $94.04K $75.54K
YoY Change 471.0% 24.49% 339.19%
Gross Profit Margin 13.45% 17.16% 19.71%
Selling, General & Admin $42.79K $190.1K $178.7K
YoY Change -28.68% 6.38% 39.25%
% of Gross Profit 149.88% 202.18% 236.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $48.72K $190.1K $177.2K
YoY Change -18.06% 7.31% 42.45%
Operating Profit -$20.17K -$96.09K -$101.7K
YoY Change -62.96% -5.47% -5.17%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.936K $1.546K
YoY Change 25.23%
Pretax Income -$20.18K -$94.16K -$101.7K
YoY Change -62.95% -7.37% -5.17%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$20.18K -$94.16K -$101.4K
YoY Change -62.77% -7.13% -5.41%
Net Earnings / Revenue -9.51% -17.18% -26.46%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$1.096K
COMMON SHARES
Basic Shares Outstanding 92.52M shares 92.52M shares 92.52M shares
Diluted Shares Outstanding 92.52M shares

Balance Sheet

Concept 2022 Q4 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $136.2K $136.2K $192.3K
YoY Change -29.17% -29.17% -31.64%
Cash & Equivalents $136.2K $136.2K $192.3K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $120.0K $120.0K $1.650K
Other Receivables $0.00 $0.00 $5.010K
Total Short-Term Assets $256.2K $256.2K $199.0K
YoY Change 28.77% 28.77% -56.11%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.070K $5.070K $5.270K
YoY Change -3.8% -3.8% 416.67%
Other Assets
YoY Change
Total Long-Term Assets $5.065K $5.070K $5.260K
YoY Change -3.8% -3.61% 420.79%
TOTAL ASSETS
Total Short-Term Assets $256.2K $256.2K $199.0K
Total Long-Term Assets $5.065K $5.070K $5.260K
Total Assets $261.3K $261.3K $204.2K
YoY Change 27.93% 27.94% -55.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.00K $96.00K $0.00
YoY Change -100.0%
Accrued Expenses $57.37K $57.37K $33.39K
YoY Change 71.82% 71.82% 49.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.4K $186.4K $33.39K
YoY Change 458.1% 458.16% -81.83%
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 $186.4K $186.4K $33.39K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $186.4K $186.4K $35.05K
YoY Change 458.1% 431.73% -80.93%
SHAREHOLDERS EQUITY
Retained Earnings -$594.1K
YoY Change 18.83%
Common Stock $9.252K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.89K $74.89K $169.2K
YoY Change
Total Liabilities & Shareholders Equity $261.3K $261.3K $204.2K
YoY Change 27.93% 27.94% -55.05%

Cashflow Statement

Concept 2022 Q4 2022 2021
OPERATING ACTIVITIES
Net Income -$20.18K -$94.16K -$101.4K
YoY Change -62.77% -7.13% -5.41%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$34.09K -$59.53K -$85.05K
YoY Change -510.23% -30.01% -78.83%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $200.00 -$4.250K
YoY Change -104.71%
Cash From Investing Activities $0.00 $200.00 -$4.250K
YoY Change -104.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 300.0
YoY Change -100.0% -99.91%
NET CHANGE
Cash From Operating Activities -34.09K -$59.53K -85.05K
Cash From Investing Activities 0.000 $200.00 -4.250K
Cash From Financing Activities 0.000 300.0
Net Change In Cash -34.09K -$56.09K -89.00K
YoY Change -495.93% -36.97%
FREE CASH FLOW
Cash From Operating Activities -$34.09K -$59.53K -$85.05K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
200 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4250 usd
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1931 usd
CY2021 SEAV Proceeds Advances From Director
ProceedsAdvancesFromDirector
1631 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
300 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3236 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-12 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-56093 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-89013 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192286 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
281299 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
136193 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192286 usd
CY2022Q4 SEAV Accounts Receivables Owns Interest Rate
AccountsReceivablesOwnsInterestRate
0.1476 pure
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zFqN4usNGSJa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86C_zU0nXkmDviA9">Use of estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
5065 usd
CY2021Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
5265 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-94157 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-594080 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-59529 usd
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
92519843 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
92519843 shares
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
120000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
120000 usd
CY2022Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
5065 usd
CY2021Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
5265 usd
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
96000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
96000 usd
CY2022Q4 SEAV Accrued Audit Fees Current
AccruedAuditFeesCurrent
19203 usd
CY2021Q4 SEAV Accrued Audit Fees Current
AccruedAuditFeesCurrent
26486 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1541 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5664 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
36628 usd
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1244 usd
CY2022Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
57372 usd
CY2021Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
33394 usd
CY2022 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-58780 usd
CY2021 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-45151 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-94157 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-101650 usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2022 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
911631 usd
CY2021 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
692558 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
548095 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
454053 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-94157 usd
CY2022Q4 us-gaap Assets Net
AssetsNet
261258 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
383240 usd
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
307700 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-101650 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-101650 usd
CY2021Q4 us-gaap Assets Net
AssetsNet
204214 usd

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