2024 Q1 Form 10-Q Financial Statement

#000168316824000991 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $179.8K $182.9K $1.134M
YoY Change -19.78% -83.87% -13.76%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $179.8K $182.9K $1.134M
YoY Change -19.78% -83.87% -13.76%
Operating Profit -$179.8K -$182.9K -$1.134M
YoY Change -19.78% -83.87%
Interest Expense $59.12K $110.5K -$67.86K
YoY Change 5.28% -262.83% 5650.85%
% of Operating Profit
Other Income/Expense, Net -$689.0K -$411.5K -$980.6K
YoY Change 331.09% -58.04%
Pretax Income -$868.8K -$594.4K -$2.183M
YoY Change 126.25% -72.77% 65.81%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$868.8K -$594.4K -$2.183M
YoY Change 126.25% -72.77% 65.81%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00 -$0.01
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 539.5M shares 308.2M shares 182.8M shares
Diluted Shares Outstanding 529.2M shares 418.0M shares 186.6M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $480.00 $5.020K $2.090K
YoY Change -86.7% 140.19% -79.69%
Cash & Equivalents $475.00 $5.021K $2.088K
Short-Term Investments
Other Short-Term Assets $412.0K $482.5K $400.0K
YoY Change -18.82% 20.63% -91.59%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $412.5K $487.5K $402.1K
YoY Change -19.3% 21.25% -91.56%
LONG-TERM ASSETS
Property, Plant & Equipment $450.0K $450.0K $1.650M
YoY Change 0.0% -72.73% 225.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $507.5K $507.5K $16.96M
YoY Change 0.0% -97.01% 3241.19%
TOTAL ASSETS
Total Short-Term Assets $412.5K $487.5K $402.1K
Total Long-Term Assets $507.5K $507.5K $16.96M
Total Assets $920.0K $995.1K $17.36M
YoY Change -9.68% -94.27% 229.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.4K $109.8K $65.17K
YoY Change 97.33% 68.42% 174.4%
Accrued Expenses $690.6K $597.0K $54.43K
YoY Change 839.78% 996.9% -83.23%
Deferred Revenue
YoY Change
Short-Term Debt $335.0K $318.7K $5.865M
YoY Change 102.67% -94.57% 1063.89%
Long-Term Debt Due $372.9K $391.9K $443.8K
YoY Change -7.19% -11.69%
Total Short-Term Liabilities $2.777M $2.596M $7.874M
YoY Change 39.2% -67.03% 779.95%
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 $2.777M $2.596M $7.874M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.777M $2.596M $7.874M
YoY Change 39.2% -67.03% 779.95%
SHAREHOLDERS EQUITY
Retained Earnings -$27.38M -$26.51M -$24.62M
YoY Change 9.53% 7.71%
Common Stock $570.9K $471.1K $191.8K
YoY Change 172.46% 145.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.857M -$1.601M $9.486M
YoY Change
Total Liabilities & Shareholders Equity $920.0K $995.1K $17.36M
YoY Change -9.68% -94.27% 229.22%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income -$868.8K -$594.4K -$2.183M
YoY Change 126.25% -72.77% 65.81%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$89.55K -$136.4K -$75.44K
YoY Change -60.18% 80.85% 126.82%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 85.00K 127.9K 70.61K
YoY Change -62.46% 81.16% 62.14%
NET CHANGE
Cash From Operating Activities -89.55K -136.4K -75.44K
Cash From Investing Activities 0.000
Cash From Financing Activities 85.00K 127.9K 70.61K
Net Change In Cash -4.550K -8.510K -4.830K
YoY Change -401.32% 76.19% -146.94%
FREE CASH FLOW
Cash From Operating Activities -$89.55K -$136.4K -$75.44K
Capital Expenditures
Free Cash Flow
YoY Change

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LossOnConversionOfPreferredStock
306373 usd
stal Loss On Conversion Of Preferred Stock
LossOnConversionOfPreferredStock
758124 usd
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-156178 usd
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-460682 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
143627 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
159999 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-0 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-47350 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-803 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
12411 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
28633 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
36886 usd
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
18283 usd
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
6991 usd
us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
151481 usd
us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
97349 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-163091 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-180861 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
42000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
80000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
97250 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
145800 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
-0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
28025 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
57750 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
-0 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
14329 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
-0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
163721 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
111225 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
630 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-69636 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4391 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71724 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5021 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2088 usd
stal Conversion Of Debt
ConversionOfDebt
53120 usd
stal Conversion Of Debt
ConversionOfDebt
154300 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_807_eus-gaap--NatureOfOperations_zyBraCI0wlA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1 – <span id="xdx_82E_z0H5MXLleWDh">NATURE OF BUSINESS</span> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Star Alliance International Corp. (“the Company”, “we”, “us”) was originally incorporated with the name Asteriko Corp. in the State of Nevada on April 17, 2014, under the laws of the state of Nevada. The primary purpose of the Company is to acquire and develop gold mining as well as certain other mining properties worldwide, finding patented new mining technologies and proprietary technology outside the mining industry.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>GOING CONCERN</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As shown in the accompanying unaudited financial statements, the Company has an accumulated deficit of $<span id="xdx_909_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20231231_zB6M55iB3vm2">26,514,657</span> as of December 31, 2023. For the period ended December 31, 2023, the Company had a net loss of $<span id="xdx_90B_eus-gaap--NetIncomeLoss_iN_di_c20230701__20231231_zqPK4Jq4TzLi">966,863</span> and used $<span id="xdx_908_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20230701__20231231_zxkGe1VGrdFg">163,091</span> of cash in operating activities. Due to these conditions, it raises substantial doubt about the Company’s ability to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26514657 usd
us-gaap Net Income Loss
NetIncomeLoss
-966863 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-163091 usd
CY2023Q2 stal Mine Assets
MineAssets
450000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
450000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
450000 usd
CY2023Q4 us-gaap Other Notes Payable
OtherNotesPayable
188200 usd
CY2023Q2 us-gaap Other Notes Payable
OtherNotesPayable
127400 usd
CY2023Q4 stal Mine Assets
MineAssets
450000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zMPRTzin73c7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_86C_zZeus3Yfh5fh">Use of Estimates</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_843_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zCUekt3alUMk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration: underline"><span id="xdx_861_zjeqHgqot5tf">Reclassifications</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the six months ended December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
502006 usd
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
0 usd
us-gaap Payments For Repurchase Of Redeemable Convertible Preferred Stock
PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock
106605 usd
CY2023Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
395941 usd
CY2023Q2 stal Less Debt Discount
LessDebtDiscount
-105354 usd
CY2023Q4 stal Less Debt Discount
LessDebtDiscount
-4061 usd
CY2023Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
396652 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
391880 usd
CY2023Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1010145 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
0 usd
stal Decrease To Derivative Due To Conversion
DecreaseToDerivativeDueToConversion
-160395 usd
stal Derivative Loss Due To Mark To Market Adjustment
DerivativeLossDueToMarkToMarketAdjustment
260034 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1109784 usd
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001

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