$TZUP
THUMZUP MEDIA Corp

2022 Q3 Form 10-Q Financial Statement

#000190359622000485 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.632K $1.398K $3.490K
YoY Change
Cost Of Revenue $1.900K
YoY Change
Gross Profit -$270.00
YoY Change
Gross Profit Margin -16.54%
Selling, General & Admin $165.6K $131.6K $76.84K
YoY Change 676.6% 952.8%
% of Gross Profit
Research & Development $126.5K $140.0K $146.1K
YoY Change -52.83% 19.88%
% of Gross Profit
Depreciation & Amortization $540.00 $540.00 $540.00
YoY Change -25.0% 50.0%
% of Gross Profit
Operating Expenses $294.6K $272.1K $223.4K
YoY Change 1.52% 109.95%
Operating Profit -$292.9K -$270.7K -$219.9K
YoY Change 0.95%
Interest Expense -$4.440K -$4.440K
YoY Change 52.58%
% of Operating Profit
Other Income/Expense, Net -$4.443K -$4.443K
YoY Change 52.47%
Pretax Income -$292.9K -$275.1K -$224.4K
YoY Change -1.03% 107.63%
Income Tax
% Of Pretax Income
Net Earnings -$292.9K -$275.1K -$224.4K
YoY Change -1.03% 107.63%
Net Earnings / Revenue -17949.45% -19680.83% -6428.94%
Basic Earnings Per Share -$0.05 -$0.05 -$0.04
Diluted Earnings Per Share -$0.05 -$45.06K -$36.82K
COMMON SHARES
Basic Shares Outstanding 6.316M shares 6.094M shares 6.094M shares
Diluted Shares Outstanding 6.445M shares 6.094M shares 6.094M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.100M $653.9K $325.3K
YoY Change 350.89% 14.66%
Cash & Equivalents $1.100M $653.9K $325.3K
Short-Term Investments
Other Short-Term Assets $123.8K $0.00
YoY Change -34.14%
Inventory
Prepaid Expenses $123.8K
Receivables
Other Receivables
Total Short-Term Assets $1.224M $653.9K $325.3K
YoY Change 183.27% -6.75%
LONG-TERM ASSETS
Property, Plant & Equipment $3.093K $3.633K $4.170K
YoY Change -41.09% -39.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.093K $3.633K $4.170K
YoY Change -87.84% -54.98%
TOTAL ASSETS
Total Short-Term Assets $1.224M $653.9K $325.3K
Total Long-Term Assets $3.093K $3.633K $4.170K
Total Assets $1.227M $657.5K $329.5K
YoY Change 168.19% -7.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.26K $39.47K $35.18K
YoY Change
Accrued Expenses $39.47K
YoY Change 328.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $215.3K $215.3K
YoY Change -100.0% 0.14%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.26K $254.8K $250.5K
YoY Change -87.98% 13.63%
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 $32.26K $254.8K $250.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $32.26K $254.8K $250.5K
YoY Change -87.98% 13.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.655M -$1.362M
YoY Change
Common Stock $7.106K $6.316K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.194M $402.7K $78.97K
YoY Change
Total Liabilities & Shareholders Equity $1.227M $657.5K $329.5K
YoY Change 168.19% -7.3%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$292.9K -$275.1K -$224.4K
YoY Change -1.03% 107.63%
Depreciation, Depletion And Amortization $540.00 $540.00 $540.00
YoY Change -25.0% 50.0%
Cash From Operating Activities -$377.1K -$251.9K -$223.0K
YoY Change 21.69% -4.39%
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 823.0K 580.5K 123.8K
YoY Change -19.88%
NET CHANGE
Cash From Operating Activities -377.1K -251.9K -223.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 823.0K 580.5K 123.8K
Net Change In Cash 445.9K 328.6K $0.00
YoY Change -243.9% -27.38%
FREE CASH FLOW
Cash From Operating Activities -$377.1K -$251.9K -$223.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$377.1K -$251.9K -$223.0K
YoY Change 21.69% -1.18%

Facts In Submission

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<p id="xdx_801_eus-gaap--NatureOfOperations_zL8Ab8kOahUc" style="font: 12pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 - <span id="xdx_82E_znFHCvRBZeJe">Business Organization and Nature of Operations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt; text-align: justify">Thumzup Media Corporation (“Thumzup” or “Company”) was incorporated October 27, 2020, under the laws of the State of Nevada, and its headquarters is located in Carson City, Nevada. The Company is a software company dedicated to building an influencer community around its mobile app (“App”). The App generates scalable word-of-mouth product posts and recommendations for advertisers on social media and is designed to connect advertisers with individuals who are willing to promote their products online.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt; text-align: justify">The Thumzup App enables users to select a brand they want to post about on social media. Once the Thumzup user selects the brand and takes a photo (using the App), the App will post the photo and a caption to the user’s social media accounts. For the advertiser, the Thumzup system enables brands to get real people to promote their products to their friends, rather than displaying banner ads that people are tuning out. The Company has recorded nominal revenues during the first six months of 2022 and continues with the development of enhancements to its App and marketing efforts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt; text-align: justify">The Company is an “emerging growth company” as that term is used in the Jumpstart our Business Startups Act of 2012, and as such, has elected to comply with certain reduced public company reporting requirements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_z3ALkIgepDVl" style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_z5UscB1iyDP1">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the financial statements and the reported amounts of expenses during the reported period. These assumptions and estimates could have a material effect on the financial statements. Actual results may differ materially from those estimates. The Company’s management periodically reviews estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause the Company to revise these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Cash
Cash
653856 usd
CY2021Q4 us-gaap Cash
Cash
424445 usd

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