2023 Q4 Form 10-K Financial Statement

#000155479524000105 Filed on April 15, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $30.00K $150.0K $45.00K
YoY Change -33.33% -32.13% -74.29%
Cost Of Revenue $40.00K $40.00K $82.14K
YoY Change -51.3% -51.3% -14.44%
Gross Profit -$10.00K $110.0K -$37.14K
YoY Change -73.07% -20.78% -147.01%
Gross Profit Margin -33.33% 73.33% -82.53%
Selling, General & Admin $31.38K $80.92K -$77.87K
YoY Change -140.3% 25.73% -202.98%
% of Gross Profit 73.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00 $50.00 $10.00
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 0.05%
Operating Expenses $31.38K $89.92K -$77.87K
YoY Change -140.3% 39.69% -202.98%
Operating Profit -$41.38K $20.08K $40.73K
YoY Change -201.6% -73.04% 1105.03%
Interest Expense -$4.980K -$15.25K -$6.220K
YoY Change -19.94% -27.38% 26.42%
% of Operating Profit -75.95% -15.27%
Other Income/Expense, Net $1.130K $20.09K -$73.98K
YoY Change -101.53% -135.93% -6589.47%
Pretax Income -$45.22K $7.825K -$39.47K
YoY Change 14.57% -423.35% 9526.83%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$45.22K $7.825K -$39.47K
YoY Change 14.57% -423.35% 9526.83%
Net Earnings / Revenue -150.73% 5.22% -87.71%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 11.36M shares 4.125M shares 33.50M shares
Diluted Shares Outstanding 283.1M shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.60K $37.60K $46.07K
YoY Change -18.39% -18.39% -23.02%
Cash & Equivalents $7.600K $16.07K
Short-Term Investments $30.00K $30.00K $30.00K
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $186.8K $186.8K $362.5K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $224.4K $224.4K $408.6K
YoY Change -45.08% -45.08% 2.44%
LONG-TERM ASSETS
Property, Plant & Equipment $100.00 $100.00 $150.00
YoY Change -33.33% -33.33% -25.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00K $30.00K
YoY Change 0.0% 0.0%
Other Assets $0.00
YoY Change
Total Long-Term Assets $159.9K $159.9K $164.4K
YoY Change -2.77% -2.77% -15.05%
TOTAL ASSETS
Total Short-Term Assets $224.4K $224.4K $408.6K
Total Long-Term Assets $159.9K $159.9K $164.4K
Total Assets $384.3K $384.3K $573.0K
YoY Change -32.94% -32.94% -3.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00K $35.47K $1.760K
YoY Change 1604.55% 1915.34% -21.08%
Accrued Expenses $4.830K $4.830K $170.1K
YoY Change -97.16% -97.16% -8.85%
Deferred Revenue
YoY Change
Short-Term Debt $107.7K $107.7K $459.7K
YoY Change -76.57% -76.57% 166.15%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $148.0K $148.0K $631.6K
YoY Change -76.56% -76.56% -2.62%
LONG-TERM LIABILITIES
Long-Term Debt $279.0K $279.0K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $279.0K $279.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $148.0K $148.0K $631.6K
Total Long-Term Liabilities $279.0K $279.0K $0.00
Total Liabilities $427.0K $427.0K $631.6K
YoY Change -32.39% -32.39% -2.62%
SHAREHOLDERS EQUITY
Retained Earnings -$1.732M -$1.740M
YoY Change -0.45% 0.14%
Common Stock $41.50K $33.50K
YoY Change 23.88% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$42.76K -$42.76K -$58.59K
YoY Change
Total Liabilities & Shareholders Equity $384.3K $384.3K $573.0K
YoY Change -32.94% -32.94% -3.27%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$45.22K $7.825K -$39.47K
YoY Change 14.57% -423.35% 9526.83%
Depreciation, Depletion And Amortization $10.00 $50.00 $10.00
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities $62.47K $56.53K $1.420K
YoY Change 4299.3% -510.22% -101.33%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.00K -$65.00K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 62.47K $56.53K 1.420K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -65.00K -$65.00K 0.000
Net Change In Cash -2.530K -$8.472K 1.420K
YoY Change -278.17% -38.52% -105.86%
FREE CASH FLOW
Cash From Operating Activities $62.47K $56.53K $1.420K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow $62.47K $56.53K $1.420K
YoY Change 4299.3% -510.22% -101.33%

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CY2023 us-gaap Depreciation
Depreciation
50 usd
CY2022 us-gaap Depreciation
Depreciation
50 usd
CY2023 SUIC Credit Loss Of Dividend Receivable
CreditLossOfDividendReceivable
9000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
175726 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-23500 usd
CY2022 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
35574 usd
CY2022 SUIC Other Income1
OtherIncome1
-2000 usd
CY2023 SUIC Other Income2
OtherIncome2
9000 usd
CY2023 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-4500 usd
CY2022 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-4500 usd
CY2023 us-gaap Depreciation
Depreciation
50 usd
CY2022 us-gaap Depreciation
Depreciation
50 usd
CY2023 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
3710 usd
CY2022 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-464 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
30000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-165283 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-16519 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
56528 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-13778 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
56528 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13778 usd
CY2023 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
65000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-65000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8472 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13778 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16072 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29850 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7600 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16072 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
143 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
21002 usd
CY2023Q4 us-gaap Capital
Capital
76359 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zGFizFOoVURl" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_86A_zqNlXvUiwkK8">Use of Estimates</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results. Significant accounting estimates reflected in the Company’s consolidated financial statements included the valuation of accounts receivable, the estimated useful lives of long-term assets, the valuation of short-term investment and the valuation of deferred tax assets.</span></p>
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
105000 usd
CY2023Q4 SUIC Shortterm Debt Fair Value Unpaid Balance
ShorttermDebtFairValueUnpaidBalance
323 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
186799 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
362525 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
186799 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
362525 usd
CY2022Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
279000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
172734 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
279000 usd
CY2023Q4 SUIC Accrued Interest Unpaid Balance
AccruedInterestUnpaidBalance
4474 usd
CY2023 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
18355 usd
CY2023Q4 SUIC Cancelled Accrued Interest Payable
CancelledAccruedInterestPayable
83260 usd
CY2023Q4 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
107734 usd
CY2023 SUIC Debt Instrument Increase Accrued Interest1
DebtInstrumentIncreaseAccruedInterest1
1592 usd
CY2023 SUIC Debt Instrument Increase Accrued Interest Unpaid Balance1
DebtInstrumentIncreaseAccruedInterestUnpaidBalance1
2972 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
949224 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
214062 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
215705 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
214062 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
215705 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
7825 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-2419 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-1643 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-508 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1643 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-508 usd

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