$TMNA
Tingo Inc

2018 Q2 Form 10-Q Financial Statement

#000114420418026833 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue $16.37K $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue $3.246K $0.00 $0.00
YoY Change
Gross Profit $13.12K $0.00 $0.00
YoY Change -100.0%
Gross Profit Margin 80.17%
Selling, General & Admin $152.2K $311.8K $122.7K
YoY Change -2.6% 154.05%
% of Gross Profit 1159.95%
Research & Development $100.0K $100.0K $0.00
YoY Change 0.0%
% of Gross Profit 762.2%
Depreciation & Amortization $728.00 $731.00 $72.00
YoY Change 100.0% 915.28%
% of Gross Profit 5.55%
Operating Expenses $152.2K $311.8K $58.79K
YoY Change -2.6% 430.44% 181.21%
Operating Profit -$139.1K -$311.8K -$122.7K
YoY Change -11.0% 154.05% 913.98%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$61.17K $51.54K $0.00
YoY Change -24864.78%
Pretax Income -$200.2K -$260.3K -$122.7K
YoY Change 28.36% 112.06% 913.98%
Income Tax $0.00 $0.00 -$12.35K
% Of Pretax Income
Net Earnings -$200.2K -$260.3K -$110.4K
YoY Change 34.43% 135.8% 811.92%
Net Earnings / Revenue -1223.48%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 37.70M shares 37.70M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.000M $0.00 $0.00
YoY Change
Cash & Equivalents $1.008M $30.07K $56.19K
Short-Term Investments
Other Short-Term Assets $856.1K $971.4K
YoY Change 1235.12%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.891M $1.029M $0.00
YoY Change 1772.86%
LONG-TERM ASSETS
Property, Plant & Equipment $11.19K $12.67K
YoY Change 35.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.19K $12.67K $76.00
YoY Change -60.14% 16565.79%
TOTAL ASSETS
Total Short-Term Assets $1.891M $1.029M $0.00
Total Long-Term Assets $11.19K $12.67K $76.00
Total Assets $1.902M $1.042M $76.00
YoY Change 1802.08% 1370606.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $34.90K $42.79K $26.77K
YoY Change -63.27% 59.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $158.5K $1.620M $100.0K
YoY Change -63.64% 1520.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $158.5K $1.620M $100.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $158.5K $1.620M $54.45K
YoY Change -60.39% 2876.15%
SHAREHOLDERS EQUITY
Retained Earnings -$1.025M -$824.6K -$70.32K
YoY Change 1072.66%
Common Stock $7.790K $7.540K $5.149K
YoY Change 3.87% 46.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.744M -$578.7K -$54.37K
YoY Change
Total Liabilities & Shareholders Equity $1.902M $1.042M $76.00
YoY Change 1802.08% 1370606.58%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$200.2K -$260.3K -$110.4K
YoY Change 34.43% 135.8% 811.92%
Depreciation, Depletion And Amortization $728.00 $731.00 $72.00
YoY Change 100.0% 915.28%
Cash From Operating Activities -$1.000M -$252.6K -$8.451K
YoY Change 900.0% 2888.96% -30.19%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $4.083K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$4.083K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $50.00K
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.100M 221.5K $66.97K
YoY Change 2000.0% 230.73%
NET CHANGE
Cash From Operating Activities -1.000M -252.6K -$8.451K
Cash From Investing Activities 0.000 $0.00 -$4.083K
Cash From Financing Activities 2.100M 221.5K $66.97K
Net Change In Cash 1.100M -31.10K $54.44K
YoY Change -157.14% -549.71%
FREE CASH FLOW
Cash From Operating Activities -$1.000M -$252.6K -$8.451K
Capital Expenditures $0.00 $0.00 $4.083K
Free Cash Flow -$1.000M -$252.6K -$12.53K
YoY Change 900.0% 1915.29% 3.54%

Facts In Submission

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48675 USD
CY2017Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
0 USD
CY2018Q1 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
0 USD
CY2017Q1 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
95970 USD
CY2018Q1 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
0 USD
CY2017Q1 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
6840 USD
CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2018Q1 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;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"><strong><i>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>
CY2017Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
313 USD
CY2018Q1 iwbb Operating Lease Rent Expense Per Month
OperatingLeaseRentExpensePerMonth
4098 USD
CY2018Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
577638 USD
CY2017Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
345099 USD
CY2017Q1 us-gaap Depreciation
Depreciation
72 USD
CY2018Q1 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 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"> </div> 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="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN: 0in; WIDTH: 100%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <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="86%"> <div>Net profit</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="12%"> <div>&#160;</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>&#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: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="86%"> <div>Nil &#150; THB300,000 ($9,672)</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; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>0</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="86%"> <div>THB300,000 &#150; THB3,000,000 ($96,715)</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; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>15</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="86%"> <div>Over THB3,000,000 ($96,715)</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; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>20</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> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-3434 USD
CY2018Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
0 USD
CY2018Q1 iwbb Income Tax Reconciliation Over Provision Of Valuation Allowance In Prior Period
IncomeTaxReconciliationOverProvisionOfValuationAllowanceInPriorPeriod
0 USD
CY2017Q1 iwbb Income Tax Reconciliation Over Provision Of Valuation Allowance In Prior Period
IncomeTaxReconciliationOverProvisionOfValuationAllowanceInPriorPeriod
-1214 USD
CY2018Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
142103 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
87674 USD
CY2018Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2017Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
286446 USD

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