$SPEV
SHOREPOWER TECHNOLOGIES INC.

2022 Q3 Form 10-Q Financial Statement

#000141057822001942 Filed on July 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $9.804K $10.70K
YoY Change
Gross Profit -$3.298K -$7.652K
YoY Change
Gross Profit Margin
Selling, General & Admin $10.19K $38.40K $50.43K
YoY Change -87.32% -55.04% 404.3%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.19K $38.40K $50.42K
YoY Change -87.31% -55.03% 404.2%
Operating Profit -$10.19K -$38.40K
YoY Change -87.31% -55.03%
Interest Expense $0.00 $0.00 -$1.699M
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 -$46.06K $0.00
YoY Change -100.0% -195.96%
Pretax Income -$10.19K -$38.40K -$1.761M
YoY Change -95.05% 105.9% 17510.5%
Income Tax
% Of Pretax Income
Net Earnings -$10.19K -$38.40K -$1.761M
YoY Change -95.05% 105.93% 17510.5%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$248.0K
COMMON SHARES
Basic Shares Outstanding 8.845M 8.845M 7.146M
Diluted Shares Outstanding 8.845M 8.845M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.7K $153.4K $180.8K
YoY Change -31.8% 767100.0%
Cash & Equivalents $147.7K $153.4K $180.8K
Short-Term Investments
Other Short-Term Assets $4.350K $10.58K $32.21K
YoY Change -96.69% -96.77%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $152.0K $164.0K $213.0K
YoY Change -56.29% -49.85%
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 $4.00 -$5.00 $4.00
YoY Change -300.0% -94.67%
TOTAL ASSETS
Total Short-Term Assets $152.0K $164.0K $213.0K
Total Long-Term Assets $4.00 -$5.00 $4.00
Total Assets $152.0K $164.0K $213.0K
YoY Change -56.29% -49.85% 283852.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.120K $2.940K $13.48K
YoY Change -46.67% -84.55% -95.01%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.123K $2.940K $13.48K
YoY Change -46.52% -92.45% -99.45%
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 $1.123K $2.940K $13.48K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.123K $2.940K $13.48K
YoY Change -46.52% -92.45% -99.45%
SHAREHOLDERS EQUITY
Retained Earnings -$7.242M -$7.232M -$7.193M
YoY Change 35.51% 40.5%
Common Stock $88.45K $88.45K $88.45K
YoY Change 23.78% 148.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $150.9K $161.1K $199.5K
YoY Change
Total Liabilities & Shareholders Equity $152.0K $164.0K $213.0K
YoY Change -56.29% -49.85% 283852.0%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$10.19K -$38.40K -$1.761M
YoY Change -95.05% 105.93% 17510.5%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$5.780K -$27.31K -$12.34K
YoY Change -80.6% -47.75% -1242.59%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 0.000 0.000 150.0
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -5.780K -27.31K -12.34K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 0.000 150.0
Net Change In Cash -5.780K -27.31K -12.19K
YoY Change -67.62% -111.66% -1228.7%
FREE CASH FLOW
Cash From Operating Activities -$5.780K -$27.31K -$12.34K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><i style="text-decoration-line:underline;text-decoration-style:solid;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0.35pt;">The preparation of financial statements in conformity with U.S. GAAP 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. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill,</p>
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