2024 Q3 Form 10-Q Financial Statement

#000147793224008351 Filed on December 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q3
Revenue $0.00 $12.91K
YoY Change -100.0% -50.01%
Cost Of Revenue $0.00 $22.17K
YoY Change -100.0% -13.18%
Gross Profit $0.00 -$9.255K
YoY Change -100.0% -3216.16%
Gross Profit Margin -71.68%
Selling, General & Admin $334.6K
YoY Change -59.4%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $14.95K
YoY Change -100.0% -12.09%
% of Gross Profit
Operating Expenses $300.6K $334.6K
YoY Change -10.18% -59.4%
Operating Profit -$300.6K -$343.9K
YoY Change -12.59% -58.27%
Interest Expense $11.25K $1.894K
YoY Change 494.19%
% of Operating Profit
Other Income/Expense, Net -$11.25K $140.9K
YoY Change -107.99%
Pretax Income -$311.8K -$343.9K
YoY Change -9.32% -58.27%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$311.8K -$343.9K
YoY Change -9.32% -58.27%
Net Earnings / Revenue -2663.15%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 18.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $103.00 $36.00 $0.00
Short-Term Investments
Other Short-Term Assets $159.2K
YoY Change 4.6%
Inventory
Prepaid Expenses $140.8K $152.2K $159.2K
Receivables
Other Receivables
Total Short-Term Assets $207.4K $152.2K $159.2K
YoY Change 30.28% -17.91% 4.59%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $114.2K
YoY Change -25.0%
Total Long-Term Assets $46.67K $0.00 $114.2K
YoY Change -59.12% -100.0% -82.68%
TOTAL ASSETS
Total Short-Term Assets $207.4K $152.2K $159.2K
Total Long-Term Assets $46.67K $0.00 $114.2K
Total Assets $254.1K $152.2K $273.4K
YoY Change -7.05% -56.82% -66.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.56K
YoY Change 274.87%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $243.3K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.552M $1.259M $793.2K
YoY Change 95.66% 100.22% 311.01%
LONG-TERM LIABILITIES
Long-Term Debt $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 $1.552M $1.259M $793.2K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.552M $1.259M $793.2K
YoY Change 95.66% 100.22% 311.01%
SHAREHOLDERS EQUITY
Retained Earnings -$7.336M -$7.008M -$6.344M
YoY Change 15.62% 16.79% 27.28%
Common Stock $1.822K $1.822K $1.822K
YoY Change 0.0% 0.0% -8.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.298M -$1.107M -$519.8K
YoY Change
Total Liabilities & Shareholders Equity $254.1K $152.2K $273.4K
YoY Change -7.05% -56.82% -66.31%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q3
OPERATING ACTIVITIES
Net Income -$311.8K -$343.9K
YoY Change -9.32% -58.27%
Depreciation, Depletion And Amortization $0.00 $14.95K
YoY Change -100.0% -12.09%
Cash From Operating Activities -$201.6K -$171.2K
YoY Change 17.72% 58.03%
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 $150.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $201.6K $147.3K
YoY Change 36.87% -26.35%
NET CHANGE
Cash From Operating Activities -$201.6K -$171.2K
Cash From Investing Activities $0.00 $0.00
Cash From Financing Activities $201.6K $147.3K
Net Change In Cash $67.00 -$23.91K
YoY Change -100.28% 26465.56%
FREE CASH FLOW
Cash From Operating Activities -$201.6K -$171.2K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$201.6K -$171.2K
YoY Change 17.72% -14.43%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles, 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates.</p>
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The reward for a bitcoin miner changes roughly every four years, or after every 210,000 blocks are mined and gets reduced by half each time, this whole process is called bitcoin halving. The last halving occurred on May 11, 2020, and reduced the reward per block to 6.25 BTC
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CY2024Q3 trex Description Of Digital Currencies
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The reward for a bitcoin miner changes roughly every four years, or after every 210,000 blocks are mined and gets reduced by half each time, this whole process is called bitcoin halving. The last halving occurred on May 11, 2020, and reduced the reward per block to 6.25 BTC
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0.21 pure
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TotalIncreaseValueOfBitcoinMined
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533500 usd
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CY2024Q2 us-gaap Advances To Affiliate
AdvancesToAffiliate
13602 usd
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ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedVolatilityRates
1.60 pure
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1540479 usd
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0.21 pure
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
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1540479 usd
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CY2024Q3 trex Pre Paid Consultingtextblock
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>NOTE 4. PRE-PAID CONSULTING</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The Company issued shares to its directors and advisors for services to be performed at a future date. The common shares are recorded as issued and outstanding at the time they are granted and issued, and the related share-based compensation expense is incurred as services are performed. Compensation expense not incurred is accounted for as prepaid consulting expense. On June 12, 2022, the Company issued 1,000,000 shares of common stock to advisors and directors for services to be provided at a future date. The shares were valued at $0.46 per share for a total value of $456,639, to be vested over a period of three years, for their future services. On January 1, 2023, the Company issued 100,000 shares of the Company’s common stock to John Bennett, the then Chief Financial Officer for services to be provided at a future date. The shares were valued at $0.14 per share for a total value of $14,000, to be vested over a period of 18 months. During the fiscal year ended June 30, 2024, the Company expensed $140,857 of this amount, which resulted in a prepaid consulting balance of $152,213. On July 1, 2024, the Company issued 500,000 shares of its restricted common stock to advisors and directors for services to be provided at a future date. The shares were valued at $0.16 per share for a total value of $80,000, to be vested over a period of three years, for their future services. For the three months ended September 30, 2024, the Company expensed $44,720, which, after including the newly issued shares, resulted in a prepaid consulting balance of $187,493</p>
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CY2024 trex Crypto Currency Held Current Beginning
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CY2024 trex Total Decrease Of Bitcoin Used For Operational Expenses
TotalDecreaseOfBitcoinUsedForOperationalExpenses
15824 usd
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14948 usd
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533500 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
533500 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
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0 usd
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59834 usd
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CY2024Q3 trex Exercise Price
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1.50
CY2024Q3 trex Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Volatility Rates
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1.60 pure
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-311815 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
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TotalDecreaseOfBitcoinUsedForOperationalExpenses
15824 usd
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57950 usd
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CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.01
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0.10 pure
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AdditionalSubscriptionPricePerUnit
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1.00
CY2024Q4 trex Description Of Additional Subscription Per Unit
DescriptionOfAdditionalSubscriptionPerUnit
Each Unit consists of one (1) share of the Company’s restricted common stock and one (1) warrant exercisable at $1.50 per share for a period of three (3) years from the date of Closing
CY2024Q3 trex Share Based Goods And Nonemployee Services Transaction Valuation Method Risk Free Interest Rates
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Deposits
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10000 usd
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AdditionalSubscriptionPricePerUnit
1.00
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DescriptionOfAdditionalSubscriptionPerUnit
Each Unit consists of one (1) share of the Company’s restricted common stock and one (1) warrant exercisable at $1.50 per share for a period of three (3) years from the date of Closing
CY2024Q4 us-gaap Convertible Subordinated Debt Current
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25000 usd
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Deposits
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AdditionalSubscriptionPricePerUnit
1.00
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DescriptionOfAdditionalSubscriptionPerUnit
Each Unit consists of one (1) share of the Company’s restricted common stock and one (1) warrant exercisable at $1.50 per share for a period of three (3) years from the date of Closing
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10000 usd
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AdditionalSubscriptionPricePerUnit
1.00
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DescriptionOfAdditionalSubscriptionPerUnit
Each Unit consists of one (1) share of the Company’s restricted common stock and one (1) warrant exercisable at $1.50 per share for a period of three (3) years from the date of Closing

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