$SKFG
Stark Focus Group, Inc.

2022 Q3 Form 10-Q Financial Statement

#000164033422001698 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.31K $9.010K $7.410K
YoY Change -6.67% -58.25%
% of Gross Profit
Research & Development $9.500K
YoY Change
% of Gross Profit
Depreciation & Amortization $3.110K
YoY Change
% of Gross Profit
Operating Expenses -$19.81K $9.010K $7.410K
YoY Change -279.28% -58.25%
Operating Profit -$20.12K -$9.010K
YoY Change 82.1% -58.25%
Interest Expense -$310.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$312.00 $0.00
YoY Change
Pretax Income -$20.12K -$9.010K $105.1K
YoY Change 117.75% -74.86%
Income Tax
% Of Pretax Income
Net Earnings -$20.12K -$9.010K $105.1K
YoY Change 98.28% -57.35%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.022K -$905.70 $10.35K
COMMON SHARES
Basic Shares Outstanding 9.948M shares 9.948M shares 10.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00
YoY Change -100.0%
Cash & Equivalents $0.00 $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $9.890K $0.00
YoY Change
Inventory
Prepaid Expenses $9.889K $0.00
Receivables
Other Receivables
Total Short-Term Assets $9.890K $0.00 $0.00
YoY Change -37.88% -100.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets -$1.00 $0.00 $0.00
YoY Change -66.67% -100.0%
TOTAL ASSETS
Total Short-Term Assets $9.890K $0.00 $0.00
Total Long-Term Assets -$1.00 $0.00 $0.00
Total Assets $9.889K $0.00 $0.00
YoY Change -37.87% -100.0% -100.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $100.00 $6.060K
YoY Change -100.0% -99.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $54.53K $24.42K $6.070K
YoY Change -70.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $54.53K $24.52K $12.13K
YoY Change 1043.19% -74.36%
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 $54.53K $24.52K $12.13K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $54.53K $24.52K $12.13K
YoY Change 1044.34% -74.36% -79.41%
SHAREHOLDERS EQUITY
Retained Earnings -$87.51K -$67.40K -$55.00K
YoY Change -39.82% -50.49% -44.91%
Common Stock $995.00 $995.00 $995.00
YoY Change -2.64% -2.64% -2.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$44.64K -$24.52K -$12.13K
YoY Change
Total Liabilities & Shareholders Equity $9.889K $0.00 $0.00
YoY Change -37.87% -100.0% -100.0%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$20.12K -$9.010K $105.1K
YoY Change 98.28% -57.35%
Depreciation, Depletion And Amortization $3.110K
YoY Change
Cash From Operating Activities -$16.79K -$8.980K -$119.9K
YoY Change -117.46% -68.92%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.280K
YoY Change -100.0%
Cash From Investing Activities $0.00 $1.280K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.79K 8.980K 102.7K
YoY Change -120.04% -69.61%
NET CHANGE
Cash From Operating Activities -16.79K -8.980K -119.9K
Cash From Investing Activities 0.000 1.280K
Cash From Financing Activities 16.79K 8.980K 102.7K
Net Change In Cash 0.000 0.000 -15.91K
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$16.79K -$8.980K -$119.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Address Postal Zip Code
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dei Document Type
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352
dei Entity Address State Or Province
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dei Document Quarterly Report
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dei Document Period End Date
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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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STARK FOCUS GROUP INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Address Address Line1
EntityAddressAddressLine1
38 S Federal Highway
dei Entity Address Address Line2
EntityAddressAddressLine2
10-199
dei Entity Address City Or Town
EntityAddressCityOrTown
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dei Local Phone Number
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dei Entity Current Reporting Status
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stark Weighted Average Number Of Shares Outstanding Basic And Diluted
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1. </strong><strong>ORGANIZATION AND DESCRIPTION OF BUSINESS</strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Stark Focus Group, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on July 3, 2018. The Company was formed to engage in the development and operation of a business engaged in the supply and distribution of niche apparel products to markets worldwide. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On September 27, 2019, Stark Focus Group acquired 100% interest of Common Design Limited of Hong Kong (“Common Design”) as its wholly owned subsidiary. Common Design is a start-up wholesale clothing supplier, established on April 10, 2019 in Hong Kong, specializing in the supply and trading of niche apparel for distribution to markets worldwide. With operating headquarter located in Hong Kong, Common Design designs, sources, and markets a diverse portfolio of dress up, casual and athletic apparel products to its global clients, while maintaining close relationships with its suppliers and manufacturers to ensure competitive pricing and quality management.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">On August 9, 2021, the Company entered into a share purchase agreement with to sell its 10,000 shares of its wholly owned subsidiary, Common Design Limited of Hong Kong, for a consideration of Ten Thousand Hong Kong Dollars (HK$10,000.00). The 10,000 shares represent all of the issued and outstanding shares of Common Design Limited. The transaction was consummated on September 9, 2021 (See Note 6).</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.</p>
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