2024 Q3 Form 10-Q Financial Statement
#000147793224004190 Filed on July 12, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q1 |
---|---|---|
Revenue | $20.06K | $0.00 |
YoY Change | 1019.48% | -100.0% |
Cost Of Revenue | $0.00 | |
YoY Change | ||
Gross Profit | $20.06K | |
YoY Change | 1019.48% | |
Gross Profit Margin | 100.0% | |
Selling, General & Admin | ||
YoY Change | ||
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $98.35K | $19.79K |
YoY Change | 139.2% | -66.82% |
Operating Profit | -$78.28K | -$19.79K |
YoY Change | 99.08% | -31.88% |
Interest Expense | ||
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | $0.00 | -$1.117K |
YoY Change | -115.89% | |
Pretax Income | ||
YoY Change | ||
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | ||
Net Earnings | -$78.45K | -$20.91K |
YoY Change | 99.51% | -22.81% |
Net Earnings / Revenue | -391.07% | |
Basic Earnings Per Share | ||
Diluted Earnings Per Share | $0.00 | |
COMMON SHARES | ||
Basic Shares Outstanding | 2.096B shares | |
Diluted Shares Outstanding | 2.096B shares |
Balance Sheet
Concept | 2024 Q3 | 2024 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | ||
YoY Change | ||
Cash & Equivalents | $307.3K | $2.095K |
Short-Term Investments | ||
Other Short-Term Assets | ||
YoY Change | ||
Inventory | $4.405M | $11.85K |
Prepaid Expenses | ||
Receivables | $0.00 | $0.00 |
Other Receivables | ||
Total Short-Term Assets | $4.712M | $16.33K |
YoY Change | 4253.9% | -67.6% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $0.00 | |
YoY Change | -100.0% | |
Total Long-Term Assets | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
TOTAL ASSETS | ||
Total Short-Term Assets | $4.712M | $16.33K |
Total Long-Term Assets | $0.00 | $0.00 |
Total Assets | $4.712M | $16.33K |
YoY Change | 4222.67% | -68.13% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | ||
YoY Change | ||
Accrued Expenses | $33.08K | |
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | ||
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $4.303M | $1.626M |
YoY Change | 184.41% | 8.74% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | ||
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $5.228M | |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $4.303M | $1.626M |
Total Long-Term Liabilities | $5.228M | |
Total Liabilities | $9.531M | |
YoY Change | ||
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$1.378M | -$3.006M |
YoY Change | -51.45% | 9.91% |
Common Stock | $209.6K | $209.6K |
YoY Change | -0.01% | 0.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$1.610M | |
YoY Change | ||
Total Liabilities & Shareholders Equity | $4.712M | $16.33K |
YoY Change | 4222.67% | -68.13% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$78.45K | -$20.91K |
YoY Change | 99.51% | -22.81% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | $89.26K | |
YoY Change | -146.29% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | $0.00 | |
YoY Change | -100.0% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $192.1K | |
YoY Change | -456.69% | |
NET CHANGE | ||
Cash From Operating Activities | $89.26K | |
Cash From Investing Activities | $0.00 | |
Cash From Financing Activities | $192.1K | |
Net Change In Cash | $281.3K | |
YoY Change | 25828.48% | |
FREE CASH FLOW | ||
Cash From Operating Activities | $89.26K | |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
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us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
815 | usd | |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1430 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1430 | usd |
dei |
Entity Central Index Key
EntityCentralIndexKey
|
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Amendment Flag
AmendmentFlag
|
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Current Fiscal Year End Date
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--06-30 | ||
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Q3 | ||
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Document Fiscal Year Focus
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2024 | ||
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Common Stock Shares Outstanding
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Common Stock Shares Outstanding
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Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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Allowance For Doubtful Accounts Receivable
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Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2024-03-31 | ||
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Entity File Number
EntityFileNumber
|
000-55688 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Token Communities Ltd. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
81-3709511 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
850 Tidewater Shore Loop | ||
dei |
Entity Address Address Line2
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Suite 402 | ||
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Entity Address City Or Town
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|
Bradenton | ||
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Entity Address State Or Province
EntityAddressStateOrProvince
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FL | ||
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Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
34208 | ||
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City Area Code
CityAreaCode
|
631 | ||
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Local Phone Number
LocalPhoneNumber
|
397-1111 | ||
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Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
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Entity Interactive Data Current
EntityInteractiveDataCurrent
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Yes | ||
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Entity Filer Category
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Non-accelerated Filer | ||
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Entity Small Business
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Accumulated Other Comprehensive Income Loss Net Of Tax
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|
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IncreaseDecreaseInInventories
|
0 | usd | |
us-gaap |
Accounts Receivable Sale
AccountsReceivableSale
|
0 | usd | |
us-gaap |
Accounts Receivable Sale
AccountsReceivableSale
|
0 | usd | |
us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
0 | usd | |
us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
0 | usd | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
18984 | usd | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
12205 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-180471 | usd | |
tkcm |
Proceeds From Other Assets
ProceedsFromOtherAssets
|
815 | usd | |
tkcm |
Proceeds From Other Assets
ProceedsFromOtherAssets
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd | |
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
109663 | usd | |
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
122692 | usd | |
tkcm |
Payments To Related Parties
PaymentsToRelatedParties
|
2391 | usd | |
tkcm |
Payments To Related Parties
PaymentsToRelatedParties
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
107272 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
122692 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2007 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
57879 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
665 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
100 | usd | |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
312 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2095 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
412 | usd |
CY2023Q1 | us-gaap |
Notes Issued1
NotesIssued1
|
225000 | usd |
CY2024Q1 | us-gaap |
Derivative Forward Exchange Rate1
DerivativeForwardExchangeRate1
|
1.262537 | pure |
CY2023Q1 | us-gaap |
Derivative Forward Exchange Rate1
DerivativeForwardExchangeRate1
|
1.320600 | pure |
CY2024Q1 | us-gaap |
Derivative Average Forward Exchange Rate1
DerivativeAverageForwardExchangeRate1
|
0.138499 | pure |
CY2023Q1 | us-gaap |
Derivative Average Forward Exchange Rate1
DerivativeAverageForwardExchangeRate1
|
0.145584 | pure |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of CFS in conformity with U.S. GAAP 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 CFS and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</p> | ||
us-gaap |
Income Tax Examination Description
IncomeTaxExaminationDescription
|
The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination | ||
CY2024Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
47828 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
0 | usd |
CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
33634 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
190170 | usd |
CY2024Q1 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
80912 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
190170 | usd |
CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
5000000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Each outstanding share of common stock entitles the holder to one vote per share on all matters submitted to a stockholder vote | ||
CY2024Q1 | tkcm |
Due To Related Party Current
DueToRelatedPartyCurrent
|
1544789 | usd |
CY2023Q2 | tkcm |
Due To Related Party Current
DueToRelatedPartyCurrent
|
1435126 | usd |
tkcm |
Restatement Textblock
RestatementTextblock
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 8 - RESTATEMENT</strong> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">This Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 (the “Form 10-Q”), was prepared without the consent of its independent accountant, Beckles & Co. Inc. (“Beckles & Co.”) in respect of unaudited interim financial information as of and for the three and six month periods ended March 31, 2024 set forth herein, as required by Statement on Auditing Standards No. 100, Interim Financial Statements (the “SAS 100 Review”). In its Form 8-K filed by the Company on February 27, 2024 the Company reported that it determined that the Company incorrectly applied the conversion of exchange rate transactions of its parent company and the conversion of its foreign currency subsidiary balances. As a result the following errors occurred: (i) understated the currency translation adjustment in the income statement, and (ii) overstated the cumulative translation adjustment in the statement of other comprehensive income. Although these changes are non-cash items and do not change the Company’s reported operating revenues or reported operating costs and expenses, the Company determined that these changes have a material impact on the as filed financial statements for the Company’s previously issued financial statements for the year ended June 30, 2023 and the quarter ended September 30, 2023, and as such the Company intends to restate the financial statements for such periods and potentially other subsequent periods. The financial information and footnotes contained in this Form 10-Q reflect the correction of the aforementioned errors. Due to the fact that Beckles & Co.s’ SAS 100 review has not yet been done, the consolidated balance sheets, condensed financial statements as of and for the three and six month periods ended March 31, 2024 included in the Form 10-Q should not be relied upon. The Company intends to file an amended Form 10-Q upon completion of Beckles & Co. s’ SAS 100 Review.</p> | ||
tkcm |
Accountswrittenoff Textblock
AccountswrittenoffTextblock
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 9 – ACCOUNTS WRITTEN OFF</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On January 1, 2024 cash of $236.06 and other assets of $816.62 were deemed impaired and were written off. </p> |