$SPTY
SPECIFICITY, INC.

2023 Q2 Form 10-Q Financial Statement

#000152013823000313 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $279.2K $378.7K
YoY Change -26.27% 141.4%
Cost Of Revenue $143.0K $110.4K
YoY Change 29.57% 33.19%
Gross Profit $136.2K $268.3K
YoY Change -49.24% 262.54%
Gross Profit Margin 48.78% 70.86%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $498.8K $628.4K
YoY Change -20.63% 102.9%
Operating Profit -$362.6K -$360.1K
YoY Change 0.69% 52.78%
Interest Expense $70.65K $12.47K
YoY Change 466.74%
% of Operating Profit
Other Income/Expense, Net -$70.65K -$12.47K
YoY Change 466.74%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$433.3K -$372.6K
YoY Change 16.28% 58.06%
Net Earnings / Revenue -155.18% -98.4%
Basic Earnings Per Share -$0.04 -$0.04
Diluted Earnings Per Share -$0.04 -$0.04
COMMON SHARES
Basic Shares Outstanding 10.62M shares 9.369M shares
Diluted Shares Outstanding 10.68M shares 9.369M shares

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $8.711K $26.14K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $44.00K
Other Receivables
Total Short-Term Assets $61.57K $36.55K
YoY Change 68.47%
LONG-TERM ASSETS
Property, Plant & Equipment $65.53K $74.86K
YoY Change -12.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $109.4K $160.0K
YoY Change -31.63%
TOTAL ASSETS
Total Short-Term Assets $61.57K $36.55K
Total Long-Term Assets $109.4K $160.0K
Total Assets $170.9K $196.5K
YoY Change -13.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $233.2K $3.265K
YoY Change 7043.22%
Accrued Expenses $41.17K $60.09K
YoY Change -31.48%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.012M $192.1K
YoY Change 426.65%
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 $1.012M $192.1K
Total Long-Term Liabilities
Total Liabilities $2.012M $1.234M
YoY Change 63.02%
SHAREHOLDERS EQUITY
Retained Earnings -$7.729M -$4.164M
YoY Change 85.63%
Common Stock $10.68K $9.369K
YoY Change 14.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.841M -$1.037M
YoY Change
Total Liabilities & Shareholders Equity $170.9K $196.5K
YoY Change -13.02%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$433.3K -$372.6K
YoY Change 16.28% 58.06%
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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us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_800_eus-gaap--NatureOfOperations_zBZCfy5ikIg3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 - <span id="xdx_826_zLEjURcfEPtl">ORGANIZATION AND DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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>
CY2023Q1 spty Revenues Reduced
RevenuesReduced
24000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zy6M1HrzbZyb" 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_86E_zxoveR39Vk1c">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 Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-558727 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_ztGiJcoszkm4" 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_86E_z8vzTRL1Ft9b">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_903_eus-gaap--CashFDICInsuredAmount_c20230630_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>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Net Income Loss
NetIncomeLoss
-927321 usd
CY2020Q4 us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
50000 usd
CY2023Q2 spty Related Party Advances
RelatedPartyAdvances
371239 usd
spty Rent Expense
RentExpense
48595 usd
spty Rent Expense
RentExpense
77440 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
104665 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
104665 usd
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.03 pure
CY2023Q2 spty Amounts Due To Related Party
AmountsDueToRelatedParty
25000 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001

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