2024 Q2 Form 10-Q Financial Statement

#000118518524000527 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $0.00 $415.00
YoY Change -100.0% -97.48%
Cost Of Revenue $485.00 $2.009K
YoY Change -89.84% -79.57%
Gross Profit -$485.00 -$1.594K
YoY Change -103.4% -124.05%
Gross Profit Margin -384.1%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $1.070M $84.20K
YoY Change 1748.41% 120.55%
Operating Profit -$1.070M -$85.79K
YoY Change 2354.9% 171.94%
Interest Expense $1.540K
YoY Change 81.82%
% of Operating Profit
Other Income/Expense, Net -$1.560K -$1.540K
YoY Change 511.76% 81.82%
Pretax Income -$1.072M -$87.33K
YoY Change 2344.18% 169.59%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.071M -$85.41K
YoY Change 2343.35% 416.97%
Net Earnings / Revenue -20580.24%
Basic Earnings Per Share -$0.02 $0.00
Diluted Earnings Per Share -$0.02 $0.00
COMMON SHARES
Basic Shares Outstanding 42.55M shares 42.55M shares 40.58M shares
Diluted Shares Outstanding 44.95M shares 42.55M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.471K $21.91K $38.39K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.809K $3.294K $5.303K
Prepaid Expenses
Receivables $0.00
Other Receivables
Total Short-Term Assets $4.280K $25.20K $43.69K
YoY Change 22.06%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $4.280K $25.20K $43.69K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $4.280K $25.20K $43.69K
YoY Change -26.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $6.374K $6.214K $6.377K
YoY Change 320.37%
Total Short-Term Liabilities $98.44K $68.58K $70.90K
YoY Change 26.76%
LONG-TERM LIABILITIES
Long-Term Debt $105.8K $105.9K $65.78K
YoY Change 155.14%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $105.8K $105.9K $65.78K
YoY Change 155.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.44K $68.58K $70.90K
Total Long-Term Liabilities $105.8K $105.9K $65.78K
Total Liabilities $204.2K $174.5K $136.7K
YoY Change 67.27%
SHAREHOLDERS EQUITY
Retained Earnings -$1.602M -$530.9K -$445.5K
YoY Change 40.32%
Common Stock $4.421K $4.254K $4.254K
YoY Change 14.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $4.280K $25.20K $43.69K
YoY Change -26.31%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$1.071M -$85.41K
YoY Change 2343.35% 416.97%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$57.48K
YoY Change 60.46%
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 $0.00 $14.51K
YoY Change -100.0% -27.45%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $41.00K
YoY Change 84.15%
NET CHANGE
Cash From Operating Activities -$57.48K
Cash From Investing Activities
Cash From Financing Activities $41.00K
Net Change In Cash -$16.48K
YoY Change 21.56%
FREE CASH FLOW
Cash From Operating Activities -$57.48K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration:underline">Concentration of Risk</span></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company may periodically contract with consultants and vendors to provide services related to the Company's business development activities. Agreements for these services may be for a specific time period or for a specific project or task. The Company did not have any agreements at March 31, 2024 or December 31, 2023.</p>
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CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
23210 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
112160 usd
CY2023Q4 tcgi Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
84994 usd
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.10 pure
CY2023Q4 us-gaap Security Deposit
SecurityDeposit
9084 usd
CY2023Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
18000 usd
CY2023Q4 us-gaap Loss Contingency Settlement Agreement Terms
LossContingencySettlementAgreementTerms
monthly installments of $1,500 for 12 months
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4185 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
2726 usd
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
18968 usd
CY2024Q1 us-gaap Payments For Rent
PaymentsForRent
3000 usd
CY2024Q1 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
12001 usd
CY2023Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
15001 usd
CY2024Q1 us-gaap Temporary Equity Description
TemporaryEquityDescription
preferred stock of Atlanta CBD with redeemable features that allow the investors (“Investors”) to request repayment of their investment. The Investors are also entitled to profit distributions equal to the lesser of (i) 25% interest, (ii) the difference between the ownership percentage of management and 50%, which will be distributed to management, until a 35% profit goal achieved. Preferred shareholders are entitled to a return of their investment upon 15 days’ notice given to the Company after any distribution
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
42547484 shares
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
333334 shares
CY2023Q4 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
9084 usd
CY2023Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
18000 usd
CY2023Q4 us-gaap Loss Contingency Settlement Agreement Terms
LossContingencySettlementAgreementTerms
monthly installments of $1,500 for 12 months
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
18968 usd
CY2024Q1 us-gaap Payments For Rent
PaymentsForRent
3000 usd
CY2024Q1 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
12001 usd
CY2023Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
15001 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001879270

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