2023 Q3 Form 10-Q Financial Statement
#000121390023067017 Filed on August 14, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q4 |
---|---|---|---|
Revenue | $3.540M | $1.910M | $1.721M |
YoY Change | 187.59% | 107.4% | 6.89% |
Cost Of Revenue | $569.5K | $814.4K | $1.294M |
YoY Change | -29.97% | 47.24% | -3.89% |
Gross Profit | $2.971M | $1.095M | $426.2K |
YoY Change | 611.07% | 197.92% | 62.2% |
Gross Profit Margin | 83.91% | 57.35% | 24.77% |
Selling, General & Admin | $530.0K | $452.9K | $441.5K |
YoY Change | 29.01% | -1.64% | -1.56% |
% of Gross Profit | 17.84% | 41.36% | 103.59% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $533.7K | $452.9K | $441.5K |
YoY Change | 29.91% | -1.64% | -1.56% |
Operating Profit | $2.437M | $642.2K | -$15.31K |
YoY Change | 34742.04% | -791.37% | -91.76% |
Interest Expense | $65.00K | $72.34K | -$58.56K |
YoY Change | -204.83% | -623.85% | -145.97% |
% of Operating Profit | 2.67% | 11.27% | |
Other Income/Expense, Net | $514.0K | $286.1K | -$1.810K |
YoY Change | -935.58% | 71.73% | -98.58% |
Pretax Income | $2.950M | $928.3K | -$75.67K |
YoY Change | -5510.86% | 1159.08% | -707.79% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $2.951M | $928.3K | -$75.67K |
YoY Change | -5512.99% | 1159.03% | -707.79% |
Net Earnings / Revenue | 83.36% | 48.62% | -4.4% |
Basic Earnings Per Share | $0.03 | $0.01 | |
Diluted Earnings Per Share | $0.03 | $0.01 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 88.80M shares | 88.80M shares | 88.80M shares |
Diluted Shares Outstanding | 94.69M shares | 95.45M shares |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.830M | $719.5K | $22.42K |
YoY Change | 52790.17% | 12958.26% | 765.64% |
Cash & Equivalents | $1.833M | $719.5K | $22.42K |
Short-Term Investments | |||
Other Short-Term Assets | $270.0K | $122.8K | $636.1K |
YoY Change | 49.22% | -37.29% | 630.21% |
Inventory | $533.1K | $559.8K | $474.9K |
Prepaid Expenses | |||
Receivables | $578.5K | $441.4K | $355.3K |
Other Receivables | $106.1K | $0.00 | $0.00 |
Total Short-Term Assets | $3.323M | $1.981M | $1.489M |
YoY Change | 242.75% | 79.57% | 43.04% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $120.0K | $131.5K | $143.9K |
YoY Change | -19.87% | -15.4% | -32.79% |
Goodwill | |||
YoY Change | |||
Intangibles | $0.00 | ||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $122.9K | $131.5K | $143.9K |
YoY Change | -17.93% | -15.4% | -32.8% |
TOTAL ASSETS | |||
Total Short-Term Assets | $3.323M | $1.981M | $1.489M |
Total Long-Term Assets | $122.9K | $131.5K | $143.9K |
Total Assets | $3.446M | $2.113M | $1.633M |
YoY Change | 207.87% | 67.84% | 30.11% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $90.00K | $85.80K | $488.4K |
YoY Change | -54.46% | -46.21% | 354.67% |
Accrued Expenses | $110.0K | $191.3K | $22.35K |
YoY Change | 421.33% | 440.62% | -83.25% |
Deferred Revenue | $883.3K | ||
YoY Change | |||
Short-Term Debt | $1.120M | $1.727M | $2.342M |
YoY Change | -48.93% | -23.77% | 10.07% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.362M | $2.924M | $3.427M |
YoY Change | -51.91% | 0.44% | 19.18% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $400.0K | $442.5K | $399.9K |
YoY Change | 0.03% | 10.65% | 14.27% |
Other Long-Term Liabilities | $100.0K | $2.924M | $3.427M |
YoY Change | -23.12% | 2050.72% | 2279.47% |
Total Long-Term Liabilities | $500.0K | $2.924M | $3.951M |
YoY Change | -5.65% | 445.69% | 699.82% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.362M | $2.924M | $3.427M |
Total Long-Term Liabilities | $500.0K | $2.924M | $3.951M |
Total Liabilities | $1.860M | $3.478M | $3.951M |
YoY Change | -44.69% | 0.88% | 17.26% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$6.514M | -$9.465M | -$10.42M |
YoY Change | -37.02% | -8.0% | 1.99% |
Common Stock | $8.065M | $8.065M | $8.065M |
YoY Change | 0.0% | 0.0% | 0.0% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.590M | -$1.365M | -$2.318M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.446M | $2.113M | $1.633M |
YoY Change | 207.87% | 67.84% | 30.11% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $2.951M | $928.3K | -$75.67K |
YoY Change | -5512.99% | 1159.03% | -707.79% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | $1.770M | $1.008M | $1.890K |
YoY Change | 3112.92% | -521.56% | -104.51% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -660.0K | -392.1K | 17.07K |
YoY Change | 1055.26% | -264.35% | -53.46% |
NET CHANGE | |||
Cash From Operating Activities | 1.770M | 1.008M | 1.890K |
Cash From Investing Activities | |||
Cash From Financing Activities | -660.0K | -392.1K | 17.07K |
Net Change In Cash | 1.110M | 616.1K | 18.96K |
YoY Change | -54511.76% | -106320.69% | -459.77% |
FREE CASH FLOW | |||
Cash From Operating Activities | $1.770M | $1.008M | $1.890K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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2023-06-30 | ||
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VPR Brands, LP | ||
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DE | ||
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45-1740641 | ||
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1141 Sawgrass Corporate Parkway | ||
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715-7001 | ||
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us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
88804035 | shares | |
CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
95452933 | shares |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2114795 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-147241 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2262036 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
73733 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2188303 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2318492 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
25314 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2293178 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
928322 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1364856 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
953636 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-73508 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
12320 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
200057 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
137725 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
84881 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
67598 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-518763 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
93072 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
86144 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-116560 | usd | |
us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
-537827 | usd | |
us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
122589 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
5420 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-236306 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-126741 | usd | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
883334 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1289700 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-273041 | usd | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
161583 | usd | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
164684 | usd | |
us-gaap |
Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
|
146120 | usd | |
us-gaap |
Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
|
78367 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
264595 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
111081 | usd | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
20318 | usd | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
96357 | usd | |
vprb |
Payments Of Lease Security Deposits
PaymentsOfLeaseSecurityDeposits
|
15559 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
492005 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
250000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-592616 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
275957 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
697084 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
2916 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
22421 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2590 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
719505 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5506 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
211332 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
113160 | usd | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
109993 | usd | |
CY2023Q2 | us-gaap |
Payments For Royalties
PaymentsForRoyalties
|
250000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</p> | ||
vprb |
Company Revenues Percentage
CompanyRevenuesPercentage
|
1 | pure | |
CY2023Q2 | vprb |
Company Revenues Percentage
CompanyRevenuesPercentage
|
1 | pure |
CY2023Q2 | vprb |
Gross Sales Percentage
GrossSalesPercentage
|
0.05 | pure |
us-gaap |
Payments For Royalties
PaymentsForRoyalties
|
500000 | usd | |
CY2023Q2 | vprb |
Gross Sales Percentage
GrossSalesPercentage
|
0.05 | pure |
CY2023Q2 | us-gaap |
Prepaid Royalties
PrepaidRoyalties
|
1500000 | usd |
vprb |
Recognition Of Royalty Revenue
RecognitionOfRoyaltyRevenue
|
-616666 | usd | |
CY2023Q2 | us-gaap |
Other Liabilities
OtherLiabilities
|
883334 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Noncurrent Nonaccrual
AccountsReceivableNoncurrentNonaccrual
|
355280 | usd |
CY2023Q2 | us-gaap |
Accounts Receivable Noncurrent Nonaccrual
AccountsReceivableNoncurrentNonaccrual
|
441424 | usd |
CY2023Q2 | vprb |
Royalty Receivable
RoyaltyReceivable
|
137725 | usd |
CY2023Q2 | us-gaap |
Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
|
883334 | usd |
CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
11716340 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
11716340 | shares | |
us-gaap |
Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
|
6648898 | shares | |
CY2023Q2 | us-gaap |
Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
|
6648898 | shares |
CY2023Q2 | us-gaap |
Retained Earnings Appropriated
RetainedEarningsAppropriated
|
9465060 | usd |
CY2023Q2 | vprb |
Working Capital Deficit
WorkingCapitalDeficit
|
942953 | usd |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
88804035 | shares |
CY2023Q2 | vprb |
Net Income Basicin Dollars Per Share
NetIncomeBasicinDollarsPerShare
|
928322 | usd |
CY2023Q2 | vprb |
Average Shares Convertible Debt
AverageSharesConvertibleDebt
|
6648898 | shares |
CY2023Q2 | vprb |
Net Income Convertible Debt
NetIncomeConvertibleDebt
|
47654 | usd |
CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
95452933 | shares |
CY2023Q2 | vprb |
Net Income Diluted
NetIncomeDiluted
|
975976 | usd |
CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.01 | |
us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
88804035 | shares | |
vprb |
Net Income Basicin Dollars Per Share
NetIncomeBasicinDollarsPerShare
|
953636 | usd | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares | |
vprb |
Net Income Diluted
NetIncomeDiluted
|
953636 | usd | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.01 | ||
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
88804035 | shares |
CY2022Q2 | vprb |
Net Income Basicin Dollars Per Share
NetIncomeBasicinDollarsPerShare
|
73733 | usd |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares |
CY2022Q2 | vprb |
Net Income Diluted
NetIncomeDiluted
|
73733 | usd |
CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0 | |
us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
88804035 | shares | |
vprb |
Net Income Basicin Dollars Per Share
NetIncomeBasicinDollarsPerShare
|
-73508 | usd | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares | |
vprb |
Net Income Diluted
NetIncomeDiluted
|
-73508 | usd | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0 | ||
us-gaap |
Profit Loss
ProfitLoss
|
953636 | usd | |
CY2022Q4 | us-gaap |
Proceeds From Interest Received
ProceedsFromInterestReceived
|
250000 | usd |
CY2022Q4 | us-gaap |
Amount Of Impairment To Carrying Amount Of Regulatory Assets
AmountOfImpairmentToCarryingAmountOfRegulatoryAssets
|
1140 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
|
0.1856 | pure |
CY2022Q2 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
250000 | usd |
CY2022Q2 | us-gaap |
Accounts Payable Interest Bearing Interest Rate
AccountsPayableInterestBearingInterestRate
|
0.18 | pure |
CY2023Q2 | us-gaap |
Notes And Loans Payable Current
NotesAndLoansPayableCurrent
|
250000 | usd |
CY2022Q4 | us-gaap |
Notes And Loans Payable Current
NotesAndLoansPayableCurrent
|
250000 | usd |
CY2022Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
834960 | usd |
us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
161583 | usd | |
CY2023Q2 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
673377 | usd |
CY2023Q2 | us-gaap |
Other Notes Payable Current
OtherNotesPayableCurrent
|
230885 | usd |
CY2023Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
442492 | usd |
vprb |
Notes And Accounts Payable Related Parties
NotesAndAccountsPayableRelatedParties
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 5: NOTES AND ACCOUNTS PAYABLE – RELATED PARTIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 25, 2021, the Company received $75,000 pursuant to a promissory note in the principal amount of $100,001 issued in May 2021, to Kevin Frija (“April 2021 Frija Note”), the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. An additional amount of $5,000 was received in January 2021. The principal amount due under the April 2021 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due in April 2022. The April 2021 Frija Note is unsecured. The balance of the April 2021 Frija Note as of December 31, 2022 was $43,550, which was repaid during the six months ended June 30, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From May and June 2021, the Company received $100,001 pursuant to a promissory note in the principal amount of $100,001 issued in June 2021, to Kevin Frija (“June 2021 Frija Note”), the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the June 2021 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due in June 2022. The June 2021 Frija Note is unsecured. The balance of the June 2021 Frija Note as of December 31, 2022 was $68,760, which was repaid during the six months ended June 30, 2023. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From June through September 2021, the Company received a $100,001 pursuant to a promissory note in the principal amount of $100,001 issued in September 2021, to Kevin Frija (“September 2021 Frija Note”), the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the September 2021 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due in September 2022. The June 2021 Frija Note is unsecured. The balance of the September 2021 Frija Note as of December 31, 2022 was $87,099, which was repaid during the six months ended June 30, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September and November 2021, the Company received a $100,001 pursuant to a promissory note in the principal amount of $100,001 (the “November 2021 Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the November 2021 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on November 2, 2021. The November 2021 Frija Note is unsecured. The balance of the November 2021 Frija Note as of June 30, 2023 and December 31, 2022 was $34,815 and $100,001, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2021, the Company received a $100,001 pursuant to a promissory note in the principal amount of $100,001 (the “November 2021 2<sup>nd</sup> Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the November 2021 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on November 2, 2021. The November 2021 2nd Frija Note is unsecured. The balance of the November 2021 2<sup>nd</sup> Frija Note as of June 30, 2023 and December 31, 2022 was $100,001.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 8, 2021, the Company issued a promissory note in the principal amount of $100,001 (the “December 2021 Note”) to Kevin Frija, who is the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant stockholder of the Company. The principal amount due under the December 2021 Note bears interest at the rate of 24% per annum, and the December 2021 Note permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on December 8, 2022. The December 2021 Note is unsecured. The balance of the December 2021 Note as of June 30, 2023 and December 31, 2022 was $100,001.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2021, the Company received $60,000 and in January 2022 received $40,001 of advances pursuant to a promissory note in the principal amount of $100,001 (the “January 2022 Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the January 2022 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on January 2023. The January 2022 Frija Note is unsecured. The balance of the January 2022 Frija Note as of June 30, 2023 and December 31, 2022 was $100,001.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2022, the Company received $100,001 pursuant to a promissory note in the principal amount of $100,001 (the “January 2022B Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the January 2022B Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on January 2023. The January 2022B Frija Note is unsecured. The balance of the January 2022B Frija Note as of June 30, 2023 and December 31, 2022 was $100,001.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2022, the Company received $101,000 pursuant to a promissory note in the principal amount of $100,001 (the “January 2022C Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the January 2022C Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due in January 2023. The January 2022C Frija Note is unsecured. The balance of the January 2022C Frija Note as of June 30, 2023 and December 31, 2022 was $100,001. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2022, the Company received $101,000 pursuant to a promissory note in the principal amount of $100,001 (the “March 2022 Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the March 2022 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due in March 2023. The March 2022 Frija Note is unsecured. The balance of the March 2022 Frija Note as of June 30, 2023 and December 31, 2022 was $100,001.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In April 2022, the Company received $100,001 pursuant to a promissory note in the principal amount of $100,001 (the “April 2022 Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the April 2022 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on April 7, 2023. The April 2022 Frija Note is unsecured. The balance of the April 2022 Frija Note as of June 30, 2023 and December 31, 2022 was $100,001.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In April 2022, the Company received $52,000 and in September 2022 received $48,001 of advances pursuant to a promissory note in the principal amount of $100,001 (the “June 2022 Frija Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant unitholder of the Company. The principal amount due under the May 2022 Frija Note bears interest at the rate of 24% per annum, and permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due in May 2023. The May 2022 Frija Note is unsecured. The balance of the May 2022 Frija Note as of June 30, 2023 and December 31, 2022 was $100,001.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2022, the Company received $1,000 and in October 2022 received $14,000 of advances pursuant to a promissory note in the principal amount of $100,001 (the “September 2022 Note”) to Kevin Frija, the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant stockholder of the Company. The principal amount due under the September 2022 Note bears interest at the rate of 24% per annum, and the September 2022 Note permits Mr. Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on September 20, 2023. The September 2022 Note is unsecured. The balance of the September 2022 Note as of June 30, 2023 and December 31, 2022 was $15,000.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of notes payable – related parties activity for the six months ended June 30, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Balance at December 31, 2022 </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,114,418</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Repayments of principal </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(264,595</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Balance at June 30, 2023 </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">849,823</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Accounts Payable - Related Party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2023, accounts payable - related party of $173,375 includes $166,257 of interest on related party loans and $7,118 of other accounts payable due to an officer and a related party. As of December 31, 2022, accounts payable - related party of $237,049 includes $205,259 of interest on related party loans and $31,790 of other accounts payable due to an officer and a related party. </p> | ||
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Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
|
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CY2022Q4 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
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us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
264595 | usd | |
CY2023Q2 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
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us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
173375 | usd | |
CY2023Q2 | vprb |
Due On Lease Agreement
DueOnLeaseAgreement
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CY2023Q2 | vprb |
Interest Related Party
InterestRelatedParty
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CY2022 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
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CY2022Q4 | vprb |
Due On Lease Agreement
DueOnLeaseAgreement
|
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CY2022Q4 | vprb |
Interest Related Party
InterestRelatedParty
|
31790 | usd |
CY2023Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.1 | |
CY2022Q1 | vprb |
Annual Interest Rate Percentage
AnnualInterestRatePercentage
|
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CY2023Q2 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
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CY2022Q4 | vprb |
Common Units To Be Issued
CommonUnitsToBeIssued
|
578723 | shares |
vprb |
Beneficial Ownership Percentage
BeneficialOwnershipPercentage
|
0.0499 | pure | |
CY2020Q1 | vprb |
Aggregate Purchase Price
AggregatePurchasePrice
|
5000000 | usd |
vprb |
Weighted Average Price
WeightedAveragePrice
|
0.85 | pure | |
CY2023Q2 | vprb |
Put Notice Aggregarte Value
PutNoticeAggregarteValue
|
25000 | usd |
CY2023Q2 | vprb |
Percentage Of Average Daily Trading Value
PercentageOfAverageDailyTradingValue
|
1.50 | pure |
vprb |
Percentage Of Issued And Outstanding Shares
PercentageOfIssuedAndOutstandingShares
|
0.0499 | pure | |
vprb |
Subsequent Financing
SubsequentFinancing
|
0.50 | pure | |
CY2022Q1 | vprb |
Monthly Rent Increased
MonthlyRentIncreased
|
15500 | usd |
us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
378426 | usd | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
109993 | usd | |
CY2023Q2 | us-gaap |
Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
|
157363 | usd |
CY2022Q4 | us-gaap |
Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
|
157363 | usd |
CY2023Q2 | us-gaap |
Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
|
25828 | usd |
CY2022Q4 | us-gaap |
Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
|
13508 | usd |
CY2023Q2 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
131535 | usd |
CY2022Q4 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
143855 | usd |
CY2023Q2 | vprb |
Lease Liabilities Related To Warehouse And Office Lease Rightofuse Assets
LeaseLiabilitiesRelatedToWarehouseAndOfficeLeaseRightofuseAssets
|
135957 | usd |
CY2022Q4 | vprb |
Lease Liabilities Related To Warehouse And Office Lease Rightofuse Assets
LeaseLiabilitiesRelatedToWarehouseAndOfficeLeaseRightofuseAssets
|
146325 | usd |
CY2023Q2 | vprb |
Current Portion Of Lease Liability
CurrentPortionOfLeaseLiability
|
-25011 | usd |
CY2022Q4 | vprb |
Current Portion Of Lease Liability
CurrentPortionOfLeaseLiability
|
-22354 | usd |
CY2023Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
110946 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
123971 | usd |
CY2023Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y11M8D | |
CY2023Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.14 | pure |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
21158 | usd |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
43549 | usd |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
45727 | usd |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
48013 | usd |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
20410 | usd |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
178857 | usd |
CY2023Q2 | vprb |
Discount To Fair Value
DiscountToFairValue
|
42900 | usd |
CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
135957 | usd |
vprb |
Amortized Operating Lease Right To Use Asset
AmortizedOperatingLeaseRightToUseAsset
|
12320 | usd | |
vprb |
Amortized Operating Lease Right To Use Asset
AmortizedOperatingLeaseRightToUseAsset
|
57428 | usd | |
us-gaap |
Payments For Rent
PaymentsForRent
|
33233 | usd | |
us-gaap |
Payments For Rent
PaymentsForRent
|
111248 | usd | |
CY2023Q2 | us-gaap |
Payments For Rent
PaymentsForRent
|
16532 | usd |
CY2022Q2 | us-gaap |
Payments For Rent
PaymentsForRent
|
57670 | usd |
us-gaap |
Legal Fees
LegalFees
|
299391 | usd | |
vprb |
Net Revenues Percentage
NetRevenuesPercentage
|
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CY2022Q2 | vprb |
Customer Concentration Percentage
CustomerConcentrationPercentage
|
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vprb |
Customer Concentration Percentage
CustomerConcentrationPercentage
|
0.40 | pure | |
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Accounts Receivable Related Partie
AccountsReceivableRelatedPartie
|
334476 | usd |
CY2022Q4 | vprb |
Accounts Receivable Related Partie
AccountsReceivableRelatedPartie
|
178796 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
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CY2022Q2 | vprb |
Royalty Revenue
RoyaltyRevenue
|
usd | |
CY2023Q2 | us-gaap |
Other Income
OtherIncome
|
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CY2023Q2 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
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us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
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us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | ||
vprb |
Payments Of Lease Security Deposits
PaymentsOfLeaseSecurityDeposits
|
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us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
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us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
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vprb |
Average Shares Convertible Debt
AverageSharesConvertibleDebt
|
shares | ||
vprb |
Net Income Convertible Debt
NetIncomeConvertibleDebt
|
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CY2022Q2 | vprb |
Average Shares Convertible Debt
AverageSharesConvertibleDebt
|
shares | |
CY2022Q2 | vprb |
Net Income Convertible Debt
NetIncomeConvertibleDebt
|
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dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
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dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001376231 |