2022 Q4 Form 10-Q Financial Statement
#000152013822000529 Filed on November 21, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
Revenue | $663.0K | $214.1K | |
YoY Change | 209.65% | ||
Cost Of Revenue | $338.9K | $87.61K | |
YoY Change | 286.78% | ||
Gross Profit | $324.1K | $126.5K | |
YoY Change | 156.22% | ||
Gross Profit Margin | 48.89% | 59.08% | |
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $1.249M | $284.2K | |
YoY Change | 339.33% | ||
Operating Profit | -$924.6K | -$157.7K | |
YoY Change | 486.16% | ||
Interest Expense | $24.93K | $35.42K | |
YoY Change | -29.6% | ||
% of Operating Profit | |||
Other Income/Expense, Net | -$24.93K | -$35.42K | |
YoY Change | -29.6% | ||
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$949.5K | -$193.2K | |
YoY Change | 391.59% | ||
Net Earnings / Revenue | -143.22% | -90.21% | |
Basic Earnings Per Share | -$0.04 | ||
Diluted Earnings Per Share | -$0.04 | ||
COMMON SHARES | |||
Basic Shares Outstanding | 9.867M shares | 9.369M shares | |
Diluted Shares Outstanding | 9.369M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $22.82K | $172.6K | $117.1K |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $8.182K | ||
Other Receivables | |||
Total Short-Term Assets | $266.4K | $213.2K | |
YoY Change | -58.68% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $70.72K | $73.36K | |
YoY Change | 0.42% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $135.4K | $148.3K | |
YoY Change | 92.2% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $266.4K | $213.2K | |
Total Long-Term Assets | $135.4K | $148.3K | |
Total Assets | $401.7K | $361.5K | |
YoY Change | -43.82% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $93.87K | $68.35K | |
YoY Change | 282.96% | ||
Accrued Expenses | $37.83K | $23.68K | |
YoY Change | -46.28% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $369.3K | $168.3K | |
YoY Change | 289.05% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | |||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $369.3K | $168.3K | |
Total Long-Term Liabilities | |||
Total Liabilities | $1.390M | $1.190M | |
YoY Change | 26.95% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$6.801M | -$4.741M | |
YoY Change | 176.83% | ||
Common Stock | $10.65K | $9.867K | |
YoY Change | 23.07% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$988.3K | -$828.4K | -$810.1K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $401.7K | $361.5K | |
YoY Change | -43.82% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$949.5K | -$193.2K | |
YoY Change | 391.59% | ||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | |||
YoY Change | |||
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 | |||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | |||
Cash From Investing Activities | |||
Cash From Financing Activities | |||
Net Change In Cash | |||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | |||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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7342 | usd | |
spty |
Acquistion Of Pick Pocket And Subscription Payable Treated As Officer Compensation
AcquistionOfPickPocketAndSubscriptionPayableTreatedAsOfficerCompensation
|
1000000 | usd | |
us-gaap |
Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
|
10000 | usd | |
us-gaap |
Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
|
-7250 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
23781 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
43839 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-10746 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-46742 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-595217 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10281 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-10281 | usd | |
spty |
Proceeds From Subscription Receivables
ProceedsFromSubscriptionReceivables
|
222500 | usd | |
us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-10000 | usd | |
us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-30000 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
33000 | usd | |
spty |
Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
|
-28685 | usd | |
spty |
Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
|
-54801 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1263713 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
357500 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1258028 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
495199 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-465247 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-100018 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
637841 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
217108 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
172594 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
117090 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
60548 | usd | |
spty |
Issuance Of Related Party Notes Payable
IssuanceOfRelatedPartyNotesPayable
|
1000000 | usd | |
spty |
Right Of Use Asset And Liability
RightOfUseAssetAndLiability
|
104665 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80D_eus-gaap--NatureOfOperations_zMji2GpAUMuc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_823_zTZpehFKr6D9">ORGANIZATION AND DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specificity, Inc. (the “Company”) is a Nevada Corporation incorporated on November 25, 2020 (“Inception”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a full-service digital marketing firm that delivers cutting-edge marketing solutions to business-to-business clients as well as business to consumer clients. The Company has developed tools that allow us to identify and market to people who are actively in the buying cycle. We take advantage of the real-time messaging opportunities digital marketing offers to give small and medium-sized businesses a fair chance at online traffic.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_846_eus-gaap--UseOfEstimates_zk3Y3WwmSgB" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline"><span id="xdx_867_zoK518VZqryh">Use of Estimates</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zQQ9RGKxU6H1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline"><span id="xdx_86C_zDbEVODiFFr1">Concentration of Credit Risk</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits of $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_c20220930_pp0p0" title="FDIC limit">250,000</span> per institution that pays Federal Deposit Insurance Corporation (“FDIC”) insurance premiums. The Company has never experienced any losses related to these balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2283652 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1712994 | usd | |
CY2020Q4 | us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
50000 | usd |
CY2020Q4 | us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
50000 | usd |
CY2020Q4 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
10000 | usd |
us-gaap |
Interest Paid
InterestPaid
|
60548 | usd | |
CY2022Q3 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
25068 | usd |
CY2022Q3 | spty |
Rent Expense
RentExpense
|
17896 | usd |
spty |
Rent Expense
RentExpense
|
95536 | usd | |
CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
104665 | usd |
CY2022Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
104665 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 |