$SKFG
Stark Focus Group, Inc.

2023 Q2 Form 10-Q Financial Statement

#000164033423000824 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.09K $3.382K
YoY Change 316.62% -81.92%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses -$8.731K $14.09K $3.382K
YoY Change -196.9% 316.47% -81.92%
Operating Profit -$389.00 -$385.00 -$3.382K
YoY Change -95.68% -88.62% -76.27%
Interest Expense -$390.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$389.00
YoY Change
Pretax Income -$14.47K -$3.380K
YoY Change 328.11% -80.77%
Income Tax
% Of Pretax Income
Net Earnings -$9.120K -$14.47K -$3.382K
YoY Change 1.22% 327.85% -77.66%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$339.80
COMMON SHARES
Basic Shares Outstanding 9.948M shares 9.948M shares 9.948M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00 $0.00 $0.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $0.00 $2.131K
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $0.00 $2.131K $0.00
YoY Change -100.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.00
YoY Change -99.69%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $15.45K
YoY Change -71.52%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.51K
YoY Change -79.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $15.51K
Total Long-Term Liabilities $0.00
Total Liabilities $78.99K $72.00K $15.51K
YoY Change 222.13% 364.18% -78.99%
SHAREHOLDERS EQUITY
Retained Earnings -$121.9K -$112.7K -$58.39K
YoY Change 80.82% 93.11%
Common Stock $995.00 $995.00 $995.00
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$78.99K -$69.87K -$15.51K
YoY Change
Total Liabilities & Shareholders Equity $0.00 $2.131K $0.00
YoY Change -100.0%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$9.120K -$14.47K -$3.382K
YoY Change 1.22% 327.85% -77.66%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$10.63K -$9.382K
YoY Change 13.34% -17.52%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 $10.63K $9.382K
YoY Change 13.34% -15.99%
NET CHANGE
Cash From Operating Activities -$10.63K -$9.382K
Cash From Investing Activities
Cash From Financing Activities $10.63K $9.382K
Net Change In Cash $0.00 $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities -$10.63K -$9.382K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q4 us-gaap Loans Payable
LoansPayable
47665 usd
CY2022Q4 us-gaap Liabilities
Liabilities
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CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2023Q1 us-gaap Common Stock Value
CommonStockValue
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CY2022Q4 us-gaap Common Stock Value
CommonStockValue
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CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-14470 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9948330 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9948330 shares
CY2023Q1 stark Promissory Note And Interestdisclosuretextblock
PromissoryNoteAndInterestdisclosuretextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 5. </strong><strong>PROMISSORY NOTE AND INTEREST</strong></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; text-align:justify;">On July 20, 2022, the Company entered into a 1-year promissory note of $13,000 with a related party to finance the acquisition of patent licenses used in its drone business. The promissory note bears interest of 12%. During the 3 months ended March 31, 2023, interest expense of $385 was recorded as finance cost.</p>
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001794942
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2023Q1 dei Document Fiscal Period Focus
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Q1
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
CY2022Q4 us-gaap Common Stock Shares Authorized
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CY2022Q4 us-gaap Common Stock Shares Issued
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CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2021Q3 us-gaap Shares Outstanding
SharesOutstanding
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CY2023Q1 us-gaap Cash
Cash
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CY2023Q1 dei Document Type
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10-Q
CY2023Q1 dei Document Quarterly Report
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CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
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CY2023Q1 dei Entity File Number
EntityFileNumber
333-237100
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
STARK FOCUS GROUP INC.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
38 S Federal Highway
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
#10-199
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Dania Beach
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33004
CY2023Q1 dei City Area Code
CityAreaCode
352
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
562 - 0289
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
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CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q1 dei Entity Shell Company
EntityShellCompany
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CY2023Q2 dei Entity Common Stock Shares Outstanding
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9948330 shares
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities
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CY2023Q1 us-gaap Liabilities
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CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2131 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5967 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
14085 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
3382 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
0 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
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385 usd
CY2022Q1 us-gaap Finance Lease Interest Expense
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CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021Q4 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-15512 usd
CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-14470 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-69873 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-14470 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3382 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
3836 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
385 usd
CY2022Q1 us-gaap Proceeds From Related Party Debt
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CY2023Q1 stark Advance From Related Party
AdvanceFromRelatedParty
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CY2022Q1 stark Advance From Related Party
AdvanceFromRelatedParty
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
0 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
0 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Interest Paid Net
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CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2019Q3 stark Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
1 pure
CY2021Q3 us-gaap Shares Issued
SharesIssued
10000 shares
CY2021Q3 stark Proceed From Stockpurchase Agreement
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CY2021Q3 stark Share Issued Under Stock Purchase Agreement
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CY2023Q1 us-gaap Liabilities
Liabilities
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CY2023Q1 stark Cancellation Of Common Stock
CancellationOfCommonStock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In accounting for transaction in its common stock, the Company the guideline under ASC Topic 505 – 30 Equity, Treasury Stock. Under that guidance, when a corporation retires its stock, an excess of repurchase price over par or stated value may be allocated to additional paid-in capital and retained earnings. Alternatively, the excess may be charged entirely to retained earnings. The Company has opted to allocate a portion of the access to paid-in capital and in so doing, is subject to prorating that amount based on the amount of paid-in capital of the same issue.</p>
CY2023Q1 stark Prepaid Expensesdisclosuretextblock
PrepaidExpensesdisclosuretextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 4. </strong><strong>PREPAID EXPENSES</strong></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; text-align:justify;">On July 20, 2022, the Company purchased licenses to 4 patents at a cost of $13,000 to assist in the development of its drone business. The Licenses were for a 10-month period and as at March 31, 2023, $10,869 of the license costs were expensed.</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; text-align:justify;">These licenses were financed through a promissory note from a related party (See Note 5).</p>
CY2023Q1 us-gaap Finite Lived License Agreements Gross
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CY2023Q1 stark Demand Loan Payabletextblock
DemandLoanPayabletextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 7. </strong><strong>DEMAND LOAN PAYABLE</strong></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; text-align:justify;">During the fiscal year ended December 31, 2021, the Company secured a loan facility from an independent third party to provide working capital. The loan is non-interest bearing and due upon demand. </p>
CY2018Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
31 usd
CY2018Q3 stark Proceeds From Issuance Of Common Stock Cad
ProceedsFromIssuanceOfCommonStockCad
40 cad
CY2018Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
200000 shares
CY2019Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8000000 shares
CY2019Q3 stark Equity Method Investment Ownership
EquityMethodInvestmentOwnership
1 pure
CY2021Q4 stark Repurchase Of Common Stock Share
RepurchaseOfCommonStockShare
272500 shares
CY2021Q4 stark Repurchase Of Common Stock Value
RepurchaseOfCommonStockValue
15871 usd
CY2021Q4 stark Repurchase Of Common Stock Value Cad
RepurchaseOfCommonStockValueCad
20000 cad
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9948330 shares

Files In Submission

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0001640334-23-000824-index.html Edgar Link pending
0001640334-23-000824.txt Edgar Link pending
0001640334-23-000824-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
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stark-20230331.xsd Edgar Link pending
stark_10q.htm Edgar Link pending
stark_ex311.htm Edgar Link pending
stark_ex321.htm Edgar Link pending
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stark_10q_htm.xml Edgar Link completed