$TMNA
Tingo Inc

2018 Q1 Form 10-K Financial Statement

#000114420418015830 Filed on March 20, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2016 Q4 2016
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $0.00 $0.00
YoY Change
Gross Profit $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $311.8K $112.4K
YoY Change 154.05%
% of Gross Profit
Research & Development $100.0K
YoY Change
% of Gross Profit
Depreciation & Amortization $731.00 $0.00
YoY Change 915.28%
% of Gross Profit
Operating Expenses $311.8K $112.4K
YoY Change 430.44%
Operating Profit -$311.8K -$112.4K
YoY Change 154.05%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $51.54K $0.00
YoY Change
Pretax Income -$260.3K -$112.4K
YoY Change 112.06%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$260.3K -$112.4K
YoY Change 135.8%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$740.70
COMMON SHARES
Basic Shares Outstanding 37.70M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $2.860K
YoY Change
Cash & Equivalents $30.07K $586.00 $2.860K
Short-Term Investments
Other Short-Term Assets $971.4K $100.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.029M $100.6K $2.860K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $12.67K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $12.67K $0.00 $0.00
YoY Change 16565.79%
TOTAL ASSETS
Total Short-Term Assets $1.029M $100.6K $2.860K
Total Long-Term Assets $12.67K $0.00 $0.00
Total Assets $1.042M $100.6K $2.860K
YoY Change 1370606.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $42.79K $0.00 $900.00
YoY Change 59.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.620M $69.30K $900.00
YoY Change 1520.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.620M $69.30K $900.00
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.620M $69.30K $900.00
YoY Change 2876.15%
SHAREHOLDERS EQUITY
Retained Earnings -$824.6K -$112.4K
YoY Change 1072.66%
Common Stock $7.540K $5.149K
YoY Change 46.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$578.7K $31.29K $1.960K
YoY Change
Total Liabilities & Shareholders Equity $1.042M $100.6K $2.860K
YoY Change 1370606.58%

Cashflow Statement

Concept 2018 Q1 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$260.3K -$112.4K
YoY Change 135.8%
Depreciation, Depletion And Amortization $731.00 $0.00
YoY Change 915.28%
Cash From Operating Activities -$252.6K -$212.4K
YoY Change 2888.96%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 221.5K $210.7K
YoY Change 230.73%
NET CHANGE
Cash From Operating Activities -252.6K -$212.4K
Cash From Investing Activities $0.00 $0.00
Cash From Financing Activities 221.5K $210.7K
Net Change In Cash -31.10K -$1.743K
YoY Change -157.14%
FREE CASH FLOW
Cash From Operating Activities -$252.6K -$212.4K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$252.6K -$212.4K
YoY Change 1915.29%

Facts In Submission

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CY2017 iwbb Schedule Of Effective Income Tax Rate Reconciliation Net Profit Basis
ScheduleOfEffectiveIncomeTaxRateReconciliationNetProfitBasis
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">For accounting periods beginning on or after January 1, 2017:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 100%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="88%"> <div>Net profit</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="88%"> <div>Nil &#150; THB300,000 ($9,216)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>0</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="88%"> <div>THB300,000 &#150; THB3,000,000 ($92,162)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="88%"> <div>Over THB3,000,000 ($92,162)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>20</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>%</div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
141363 USD
CY2017 iwbb Adjustments To Additional Paid In Capitalcapital Contribution
AdjustmentsToAdditionalPaidInCapitalcapitalContribution
50000 USD
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1 USD
CY2017 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
-124635 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
197750 USD
CY2017Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.84 pure
CY2017Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.5 pure
CY2017Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
345099 USD
CY2016Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
69299 USD
CY2016 us-gaap Depreciation
Depreciation
0 USD
CY2017 iwbb Operating Lease Rent Expense Per Month
OperatingLeaseRentExpensePerMonth
3905 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1554 USD
CY2017Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
395500 shares
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2017Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
197750 USD
CY2017Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.00
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
20141 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
21278 USD
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
31668 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
15737 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-43026 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
87674 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1193 USD
CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2016Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2017 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-2
CY2017 iwbb Project Costs Incurred
ProjectCostsIncurred
19119 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
115992 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1203 USD
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal" align="justify"><strong><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The preparation of these financial statements in conformity with U.S.&#160;GAAP requires management of the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Company&#8217;s most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its consolidated financial statements.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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