2024 Q2 Form 10-Q Financial Statement

#000168316824004357 Filed on June 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $179.8K
YoY Change -19.78%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $179.8K
YoY Change -19.78%
Operating Profit -$179.8K
YoY Change -19.78%
Interest Expense $59.12K
YoY Change 5.28%
% of Operating Profit
Other Income/Expense, Net -$689.0K
YoY Change 331.09%
Pretax Income -$868.8K
YoY Change 126.25%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$868.8K
YoY Change 126.25%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 654.3M shares 539.5M shares
Diluted Shares Outstanding 529.2M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $480.00
YoY Change -86.7%
Cash & Equivalents $475.00
Short-Term Investments
Other Short-Term Assets $412.0K
YoY Change -18.82%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $412.5K
YoY Change -19.3%
LONG-TERM ASSETS
Property, Plant & Equipment $450.0K
YoY Change 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $507.5K
YoY Change 0.0%
TOTAL ASSETS
Total Short-Term Assets $412.5K
Total Long-Term Assets $507.5K
Total Assets $920.0K
YoY Change -9.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.4K
YoY Change 97.33%
Accrued Expenses $690.6K
YoY Change 839.78%
Deferred Revenue
YoY Change
Short-Term Debt $335.0K
YoY Change 102.67%
Long-Term Debt Due $372.9K
YoY Change -7.19%
Total Short-Term Liabilities $2.777M
YoY Change 39.2%
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 $2.777M
Total Long-Term Liabilities $0.00
Total Liabilities $2.777M
YoY Change 39.2%
SHAREHOLDERS EQUITY
Retained Earnings -$27.38M
YoY Change 9.53%
Common Stock $570.9K
YoY Change 172.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.857M
YoY Change
Total Liabilities & Shareholders Equity $920.0K
YoY Change -9.68%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$868.8K
YoY Change 126.25%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$89.55K
YoY Change -60.18%
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 85.00K
YoY Change -62.46%
NET CHANGE
Cash From Operating Activities -89.55K
Cash From Investing Activities
Cash From Financing Activities 85.00K
Net Change In Cash -4.550K
YoY Change -401.32%
FREE CASH FLOW
Cash From Operating Activities -$89.55K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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stal Issuance Of Stock And Warrants For Services Or Claims Related Party
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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stal Loss On Conversion Of Preferred Stock
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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stal Loss On Conversion Of Debt1
LossOnConversionOfDebt1
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stal Loss On Conversion Of Debt1
LossOnConversionOfDebt1
0 usd
stal Gain On Conversion Of Debt
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stal Gain On Conversion Of Debt
GainOnConversionOfDebt
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stal Loss On Issuance Of Convertible Debt
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stal Loss On Issuance Of Convertible Debt
LossOnIssuanceOfConvertibleDebt
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Asset Impairment Charges
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
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us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
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us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
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us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
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us-gaap Increase Decrease In Other Employee Related Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Proceeds From Related Party Debt
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
42000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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stal Repayments Of Convertible Debts
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stal Repayments Of Convertible Debts
RepaymentsOfConvertibleDebts
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us-gaap Repayments Of Notes Payable
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us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
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us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
57750 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
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us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
14329 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
248721 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
337652 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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stal Conversion Of Debt
ConversionOfDebt
165765 usd
stal Conversion Of Debt
ConversionOfDebt
0 usd
stal Common Stock Issued For Prepaid Services
CommonStockIssuedForPrepaidServices
0 usd
stal Common Stock Issued For Prepaid Services
CommonStockIssuedForPrepaidServices
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us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_ziRuPHlbD7l9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 1 – <span id="xdx_82A_zgVt6GFqizvb">NATURE OF BUSINESS </span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>GOING CONCERN</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited 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_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20240331_z4ShyEkhS6xb" title="Accumulated deficit">27,383,472</span> as of March 31, 2024. For the period ended March 31, 2024, the Company had a net loss of $<span id="xdx_908_eus-gaap--NetIncomeLoss_iN_di_c20230701__20240331_z9wf4q0LcR0e" title="Net loss">1,835,678</span> and used $<span id="xdx_90E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20230701__20240331_zMPbbD55W152" title="Cash in operating activities">252,637</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: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"> </p>
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27383472 usd
us-gaap Net Income Loss
NetIncomeLoss
-1835678 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zJxF6oFP8GR3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_865_zrSoSEp7dhK">Use of Estimates</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"> </p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zZ1xKHLiXpGl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span style="text-decoration: underline"><span id="xdx_868_zwQvaWvuKpcj">Reclassifications</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the nine months ended March 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024Q1 stal Property Plant And Equipment Mine Assets
PropertyPlantAndEquipmentMineAssets
450000 usd
CY2023Q2 stal Property Plant And Equipment Mine Assets
PropertyPlantAndEquipmentMineAssets
450000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
450000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
450000 usd
CY2024Q1 us-gaap Other Notes Payable
OtherNotesPayable
155375 usd
CY2023Q2 us-gaap Other Notes Payable
OtherNotesPayable
127400 usd
CY2023Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
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us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
106750 usd
us-gaap Payments For Repurchase Of Redeemable Convertible Preferred Stock
PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock
198868 usd
CY2024Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
409888 usd
CY2023Q2 stal Less Debt Discount
LessDebtDiscount
-105354 usd
CY2024Q1 stal Less Debt Discount
LessDebtDiscount
-36981 usd
CY2023Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
396652 usd
CY2024Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
372907 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
28444 usd
stal Decrease To Derivative Due To Conversion
DecreaseToDerivativeDueToConversion
-347430 usd
stal Derivative Loss Due To Mark To Market Adjustment
DerivativeLossDueToMarkToMarketAdjustment
502162 usd
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1193321 usd
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
950000 shares
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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