2024 Q1 Form 10-Q Financial Statement
#000121390024044299 Filed on May 16, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
Revenue | $1.519M | $1.323M | $3.081M |
YoY Change | -50.71% | -23.12% | 191.98% |
Cost Of Revenue | $1.042M | $1.031M | $2.557M |
YoY Change | -59.26% | -20.34% | 306.5% |
Gross Profit | $476.9K | $291.7K | $523.7K |
YoY Change | -8.94% | -31.56% | 22.9% |
Gross Profit Margin | 31.4% | 22.05% | 17.0% |
Selling, General & Admin | $646.9K | $818.8K | $404.7K |
YoY Change | 59.85% | 85.47% | -21.49% |
% of Gross Profit | 135.65% | 280.73% | 77.28% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $500.00 | $170.00 | |
YoY Change | |||
% of Gross Profit | 0.1% | 0.06% | |
Operating Expenses | $646.9K | $818.8K | $404.7K |
YoY Change | 59.85% | 85.48% | -21.49% |
Operating Profit | -$170.0K | -$527.2K | $119.0K |
YoY Change | -242.86% | 3343.17% | -233.22% |
Interest Expense | $43.00K | $427.5K | $10.04K |
YoY Change | 328.16% | -829.94% | -135.67% |
% of Operating Profit | 8.44% | ||
Other Income/Expense, Net | $442.0K | $6.160K | -$93.69K |
YoY Change | -571.76% | -440.33% | 214.94% |
Pretax Income | $272.0K | -$92.25K | $25.31K |
YoY Change | 974.66% | 21.91% | -117.19% |
Income Tax | $68.94K | $879.8K | |
% Of Pretax Income | 25.35% | ||
Net Earnings | $203.1K | -$972.1K | $25.31K |
YoY Change | 702.16% | 1184.59% | -117.19% |
Net Earnings / Revenue | 13.37% | -73.48% | 0.82% |
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | -$0.01 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 88.80M shares | 88.80M shares | 88.80M shares |
Diluted Shares Outstanding | 88.80M shares | 88.80M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.522M | $1.767M | $103.4K |
YoY Change | 1372.11% | 7782.52% | 1600.99% |
Cash & Equivalents | $1.522M | $1.767M | $103.4K |
Short-Term Investments | |||
Other Short-Term Assets | $242.0K | $286.2K | $158.4K |
YoY Change | 52.8% | -55.01% | 98.28% |
Inventory | $669.8K | $563.5K | $620.5K |
Prepaid Expenses | |||
Receivables | $485.3K | $426.1K | $380.0K |
Other Receivables | $42.87K | $0.00 | $0.00 |
Total Short-Term Assets | $2.962M | $3.043M | $1.262M |
YoY Change | 134.69% | 104.41% | 49.38% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $111.6K | $118.4K | $137.8K |
YoY Change | -19.02% | -17.67% | -53.5% |
Goodwill | |||
YoY Change | |||
Intangibles | $29.33K | $29.83K | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $140.9K | $148.3K | $137.8K |
YoY Change | 2.27% | 3.08% | -53.5% |
TOTAL ASSETS | |||
Total Short-Term Assets | $2.962M | $3.043M | $1.262M |
Total Long-Term Assets | $140.9K | $148.3K | $137.8K |
Total Assets | $3.103M | $3.191M | $1.400M |
YoY Change | 121.65% | 95.48% | 22.67% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $214.8K | $254.6K | $291.0K |
YoY Change | -26.19% | -47.86% | 233.85% |
Accrued Expenses | $29.43K | $27.90K | $236.4K |
YoY Change | -87.55% | 24.83% | 114.27% |
Deferred Revenue | $458.3K | ||
YoY Change | |||
Short-Term Debt | $411.1K | $668.8K | $2.043M |
YoY Change | -79.87% | -71.44% | -9.68% |
Long-Term Debt Due | $21.80K | ||
YoY Change | |||
Total Short-Term Liabilities | $1.800M | $2.084M | $3.067M |
YoY Change | -41.29% | -39.2% | 9.53% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $397.2K | $397.2K | $508.9K |
YoY Change | -21.94% | -0.67% | 45.42% |
Other Long-Term Liabilities | $88.23K | $96.07K | $3.067M |
YoY Change | -97.12% | -97.2% | 1109.97% |
Total Long-Term Liabilities | $485.5K | $493.3K | $3.067M |
YoY Change | -84.17% | -87.51% | 408.22% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.800M | $2.084M | $3.067M |
Total Long-Term Liabilities | $485.5K | $493.3K | $3.067M |
Total Liabilities | $2.286M | $2.577M | $3.693M |
YoY Change | -38.11% | -34.78% | 8.52% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$7.283M | -$7.486M | -$10.39M |
YoY Change | -29.93% | -28.15% | |
Common Stock | $8.065M | $8.065M | $8.065M |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $817.4K | $614.3K | -$2.293M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.103M | $3.191M | $1.400M |
YoY Change | 121.65% | 95.48% | 22.67% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $203.1K | -$972.1K | $25.31K |
YoY Change | 702.16% | 1184.59% | -117.19% |
Depreciation, Depletion And Amortization | $500.00 | $170.00 | |
YoY Change | |||
Cash From Operating Activities | $23.44K | $421.4K | $281.5K |
YoY Change | -91.67% | 22194.18% | -316.14% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $30.00K | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$30.00K | ||
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 | -$268.2K | -456.5K | -$200.5K |
YoY Change | 33.77% | -2774.4% | -249.94% |
NET CHANGE | |||
Cash From Operating Activities | $23.44K | 421.4K | $281.5K |
Cash From Investing Activities | -30.00K | ||
Cash From Financing Activities | -$268.2K | -456.5K | -$200.5K |
Net Change In Cash | -$244.8K | -65.16K | $81.00K |
YoY Change | -402.24% | -443.67% | 2220.83% |
FREE CASH FLOW | |||
Cash From Operating Activities | $23.44K | $421.4K | $281.5K |
Capital Expenditures | $30.00K | ||
Free Cash Flow | $391.4K | ||
YoY Change |
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1141 Sawgrass Corporate Parkway | |
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IncreaseDecreaseInOtherReceivables
|
-45418 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
139148 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
145649 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-44459 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-483220 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
159404 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
24670 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
-53828 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
-535982 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
5502 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
458333 | usd |
CY2024Q1 | vprb |
Increase Decrease Employee Advances
IncreaseDecreaseEmployeeAdvances
|
300 | usd |
CY2024Q1 | vprb |
Increase Decrease Refund Liability
IncreaseDecreaseRefundLiability
|
-2334 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
-38417 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1412 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
15328 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
68938 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
23444 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
281528 | usd |
CY2023Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
78589 | usd |
CY2024Q1 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
91860 | usd |
CY2023Q1 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
69529 | usd |
CY2024Q1 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
165810 | usd |
CY2023Q1 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
42338 | usd |
CY2024Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
10579 | usd |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
10075 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-268249 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-200531 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-244805 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
80997 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1767260 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
22421 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1522455 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
103418 | usd |
CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
80325 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
101145 | usd |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GAAP requires the Company to make judgments, 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, the reported amounts of revenues and expenses, cash flows and the related footnote disclosures during the period. On an on-going basis, the Company reviews and evaluates its estimates and assumptions. Actual results could differ from these estimates.<b><i> </i></b></p> | |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
23444 | usd |
CY2024Q1 | vprb |
Working Capital
WorkingCapital
|
1161935 | usd |
CY2024Q1 | us-gaap |
Cash
Cash
|
1522455 | usd |
CY2024Q1 | us-gaap |
Fdic Indemnification Asset Cash Payments Received
FDICIndemnificationAssetCashPaymentsReceived
|
707145 | usd |
CY2023 | us-gaap |
Fdic Indemnification Asset Cash Payments Received
FDICIndemnificationAssetCashPaymentsReceived
|
947184 | usd |
CY2024Q1 | us-gaap |
Fdic Indemnification Asset
FDICIndemnificationAsset
|
250000 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Gross
AccountsReceivableGross
|
15937 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Gross
AccountsReceivableGross
|
10925 | usd |
CY2024Q1 | us-gaap |
Provision For Other Losses
ProvisionForOtherLosses
|
32876 | usd |
CY2023 | us-gaap |
Provision For Other Losses
ProvisionForOtherLosses
|
0 | usd |
CY2023 | us-gaap |
Payments For Royalties
PaymentsForRoyalties
|
3000000 | usd |
CY2023Q1 | vprb |
Gross Sales Percentage
GrossSalesPercentage
|
0.05 | pure |
CY2024Q1 | vprb |
Minimum Royalty Payment
MinimumRoyaltyPayment
|
500000 | usd |
CY2024Q1 | vprb |
Gross Sales Percentage
GrossSalesPercentage
|
0.05 | pure |
CY2023Q1 | vprb |
Gross Sales Percentage
GrossSalesPercentage
|
0.05 | pure |
CY2023Q2 | vprb |
Minimum Royalty Payment
MinimumRoyaltyPayment
|
250000 | usd |
CY2024Q1 | us-gaap |
Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
|
363 | usd |
CY2024Q1 | vprb |
Credit Issued
CreditIssued
|
79670 | usd |
CY2024Q1 | vprb |
Utilized Credits
UtilizedCredits
|
1971 | usd |
CY2024Q1 | us-gaap |
Customer Refund Liability Current
CustomerRefundLiabilityCurrent
|
184151 | usd |
CY2023Q4 | us-gaap |
Customer Refund Liability Current
CustomerRefundLiabilityCurrent
|
186485 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Noncurrent Nonaccrual
AccountsReceivableNoncurrentNonaccrual
|
337774 | usd |
CY2023Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
88286 | usd |
CY2023Q4 | us-gaap |
Customer Refund Liability Current
CustomerRefundLiabilityCurrent
|
186485 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Noncurrent Nonaccrual
AccountsReceivableNoncurrentNonaccrual
|
485275 | usd |
CY2024Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
42868 | usd |
CY2024Q1 | us-gaap |
Customer Refund Liability Current
CustomerRefundLiabilityCurrent
|
184151 | usd |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7412194 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
88804035 | shares |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
25314 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0 | |
CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3893300 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
88804035 | shares |
CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
203059 | usd |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0 | |
CY2024Q1 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
57119 | usd |
CY2024Q1 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
11818 | usd |
CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
68938 | usd |
CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
68938 | usd |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0435 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0435 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.2535 | pure |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.2535 | pure |
CY2023Q4 | vprb |
Total Purchase Price
TotalPurchasePrice
|
30000 | usd |
CY2024Q1 | vprb |
Total Purchase Price
TotalPurchasePrice
|
-30000 | usd |
CY2024Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
500 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
1500 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
2000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
2000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
2000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
2000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
19833 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
29333 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
|
0.1856 | pure |
CY2024Q1 | us-gaap |
Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
|
250000 | usd |
CY2023 | us-gaap |
Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
|
250000 | usd |
CY2023Q4 | us-gaap |
Members Equity
MembersEquity
|
419034 | usd |
CY2024Q1 | us-gaap |
Members Equity
MembersEquity
|
419034 | usd |
CY2024Q1 | us-gaap |
Notes Payable To Bank Current
NotesPayableToBankCurrent
|
21797 | usd |
CY2024Q1 | us-gaap |
Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
|
397237 | usd |
CY2024Q1 | vprb |
Notes And Accounts Payable Related Parties
NotesAndAccountsPayableRelatedParties
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5: NOTES AND ACCOUNTS PAYABLE – RELATED PARTIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months March 31, 2024 and year ended December 31, 2023, the company repaid multiple unsecured promissory notes to Kevin Frija, who serves as its Chief Executive Officer, President, principal financial officer, principal accounting officer, Chairman of the Board, and a significant unitholder. These notes carried an interest rate of 24% per annum and permitted Mr. Frija to make one ACH payment withdrawal of $500, which increased to $1,500 per day for notes still outstanding in October of 2023, from the company’s bank account per business day until the principal and accrued interest were fully repaid. The notes were issued on various dates between April 2021 and September 2022. All were due within a year of their respective issuance dates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023 the outstanding balance of the remaining notes was $165,810 and As of March 31, 2024 there is <span style="-sec-ix-hidden: hidden-fact-30">no</span> outstanding balance related to these notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023 the Company repaid the notes amounting to $948,608 and during three month ended March 31, 2024 company has repaid the remaining notes amounting to $ 165,810. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of notes payable – related parties activity for the three months ended March 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Balance at December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">165,810</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Repayments of principal</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(165,810</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Balance at March 31, 2024</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-29">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
CY2023Q4 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
500 | usd |
CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
1500 | usd |
CY2023 | us-gaap |
Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
|
948608 | usd |
CY2024Q1 | us-gaap |
Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
|
165810 | usd |
CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
165810 | usd |
CY2024Q1 | us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
165810 | usd |
CY2022Q1 | vprb |
Annual Interest Rate Percentage
AnnualInterestRatePercentage
|
0.264 | pure |
CY2024Q1 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
|
79032 | usd |
CY2023Q4 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
|
97330 | usd |
CY2024Q1 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
88804035 | shares |
CY2024Q1 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
88804035 | shares |
CY2024Q1 | vprb |
Common Units To Be Issued
CommonUnitsToBeIssued
|
578723 | shares |
CY2024Q1 | vprb |
Beneficial Ownership Percentage
BeneficialOwnershipPercentage
|
0.0499 | pure |
CY2024Q1 | vprb |
Right Use Of Asset Obligation
RightUseOfAssetObligation
|
157363 | usd |
CY2024Q1 | vprb |
Operating Lease Warehouse And Office Lease Rightofuse Asset Current
OperatingLeaseWarehouseAndOfficeLeaseRightofuseAssetCurrent
|
157363 | usd |
CY2023Q4 | vprb |
Operating Lease Warehouse And Office Lease Rightofuse Asset Current
OperatingLeaseWarehouseAndOfficeLeaseRightofuseAssetCurrent
|
157363 | usd |
CY2024Q1 | vprb |
Accumulated Amortization
AccumulatedAmortization
|
45792 | usd |
CY2023 | vprb |
Accumulated Amortization
AccumulatedAmortization
|
38924 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
111571 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
118439 | usd |
CY2024Q1 | vprb |
Lease Liabilities Related To Warehouse And Office Lease Rightofuse Assets
LeaseLiabilitiesRelatedToWarehouseAndOfficeLeaseRightofuseAssets
|
117659 | usd |
CY2023Q4 | vprb |
Lease Liabilities Related To Warehouse And Office Lease Rightofuse Assets
LeaseLiabilitiesRelatedToWarehouseAndOfficeLeaseRightofuseAssets
|
123972 | usd |
CY2024Q1 | vprb |
Current Portion Of Lease Liability
CurrentPortionOfLeaseLiability
|
-29426 | usd |
CY2023Q4 | vprb |
Current Portion Of Lease Liability
CurrentPortionOfLeaseLiability
|
-27903 | usd |
CY2024Q1 | vprb |
Non Current Lease Liabilities Net Of Current Portion
NonCurrentLeaseLiabilitiesNetOfCurrentPortion
|
88233 | usd |
CY2023Q4 | vprb |
Non Current Lease Liabilities Net Of Current Portion
NonCurrentLeaseLiabilitiesNetOfCurrentPortion
|
96069 | usd |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y2M1D | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.14 | pure |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
44078 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
46282 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
48596 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
8164 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
147120 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
29462 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
117659 | usd |
CY2024Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
6868 | usd |
CY2023Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
6072 | usd |
CY2024Q1 | us-gaap |
Payments For Rent
PaymentsForRent
|
16806 | usd |
CY2023Q1 | us-gaap |
Payments For Rent
PaymentsForRent
|
16791 | usd |
CY2024Q1 | us-gaap |
Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
|
363 | usd |
CY2024Q1 | vprb |
Credit Issued
CreditIssued
|
79670 | usd |
CY2024Q1 | vprb |
Utilized Credits
UtilizedCredits
|
1971 | usd |
CY2024Q1 | us-gaap |
Customer Refund Liability Current
CustomerRefundLiabilityCurrent
|
184151 | usd |
CY2023Q4 | us-gaap |
Customer Refund Liability Current
CustomerRefundLiabilityCurrent
|
186485 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
391697 | usd |
CY2023Q4 | us-gaap |
Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
|
110051 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
218600 | usd |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | vprb |
Employee Advance Current
EmployeeAdvanceCurrent
|
usd | |
CY2023Q1 | vprb |
American Express Points Income
AmericanExpressPointsIncome
|
usd | |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
usd | |
CY2023Q1 | vprb |
Provision For Inventory Obsolescences
ProvisionForInventoryObsolescences
|
usd | |
CY2023Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
usd | |
CY2023Q1 | vprb |
Increase Decrease Employee Advances
IncreaseDecreaseEmployeeAdvances
|
usd | |
CY2023Q1 | vprb |
Increase Decrease Refund Liability
IncreaseDecreaseRefundLiability
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
usd | |
CY2024Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
usd | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88804035 | shares |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
25314 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2024Q1 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
usd | |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
pure | |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
pure | |
CY2024Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
usd | |
CY2024Q1 | us-gaap |
Notes Payable
NotesPayable
|
usd | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001376231 |