2023 Q3 Form 10-Q Financial Statement

#000164033423002219 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q3
Revenue $18.48K $26.31K
YoY Change -29.77%
Cost Of Revenue $70.52K $47.94K
YoY Change 47.1%
Gross Profit -$52.04K -$21.63K
YoY Change 140.62%
Gross Profit Margin -281.62% -82.19%
Selling, General & Admin $456.6K $810.4K
YoY Change -43.66% 122.65%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $102.6K $27.95K
YoY Change 267.05% 2473.85%
% of Gross Profit
Operating Expenses -$456.6K $810.4K
YoY Change -156.34% 122.65%
Operating Profit -$508.6K -$832.1K
YoY Change -38.87% 128.59%
Interest Expense $41.21K $530.1K
YoY Change -92.23% 12.61%
% of Operating Profit
Other Income/Expense, Net -$40.83K $524.3K
YoY Change -107.79% 4236.95%
Pretax Income -$549.5K -$1.356M
YoY Change -59.49% 64.88%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$549.5K -$1.356M
YoY Change -59.49% 64.88%
Net Earnings / Revenue -2973.6% -5155.09%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 1.176B shares 820.2M shares
Diluted Shares Outstanding 1.189B shares 835.5M shares

Balance Sheet

Concept 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.249M $748.4K
YoY Change 66.87% -58.4%
Cash & Equivalents $1.249M $748.4K
Short-Term Investments
Other Short-Term Assets $214.1K $188.5K
YoY Change 13.63% 6099.34%
Inventory $95.33K $83.20K
Prepaid Expenses
Receivables $10.19K $28.13K
Other Receivables $179.2K $840.00
Total Short-Term Assets $1.748M $1.049M
YoY Change 66.6% -45.29%
LONG-TERM ASSETS
Property, Plant & Equipment $3.897M $1.924M
YoY Change 102.55% 2997.46%
Goodwill
YoY Change
Intangibles $33.17M
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00K $31.02M
YoY Change -99.74% -2.38%
Total Long-Term Assets $37.75M $33.62M
YoY Change 12.3% 5.43%
TOTAL ASSETS
Total Short-Term Assets $1.748M $1.049M
Total Long-Term Assets $37.75M $33.62M
Total Assets $39.50M $34.67M
YoY Change 13.94% 2.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.15K $5.400K
YoY Change 1569.48% 182.43%
Accrued Expenses $787.5K $270.0K
YoY Change 191.67% 61.41%
Deferred Revenue
YoY Change
Short-Term Debt $161.4K $0.00
YoY Change
Long-Term Debt Due $170.0K $19.13M
YoY Change -99.11%
Total Short-Term Liabilities $1.640M $19.93M
YoY Change -91.77% 2517.5%
LONG-TERM LIABILITIES
Long-Term Debt $1.090M $285.2K
YoY Change 282.16% -98.33%
Other Long-Term Liabilities $23.68K
YoY Change
Total Long-Term Liabilities $1.113M $285.2K
YoY Change 290.46% -98.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.640M $19.93M
Total Long-Term Liabilities $1.113M $285.2K
Total Liabilities $2.754M $20.22M
YoY Change -86.38% 13.45%
SHAREHOLDERS EQUITY
Retained Earnings -$10.84M -$11.71M
YoY Change -7.45% 74.02%
Common Stock $1.176M $820.7K
YoY Change 43.32% -96.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.75M $14.45M
YoY Change
Total Liabilities & Shareholders Equity $39.50M $34.67M
YoY Change 13.94% 2.56%

Cashflow Statement

Concept 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$549.5K -$1.356M
YoY Change -59.49% 64.88%
Depreciation, Depletion And Amortization $102.6K $27.95K
YoY Change 267.05% 2473.85%
Cash From Operating Activities -$350.5K -$601.0K
YoY Change -41.68% 145.49%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $424.2K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 -$424.2K
YoY Change -100.0% 433.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.277M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.397M $1.311M
YoY Change 6.5%
NET CHANGE
Cash From Operating Activities -$350.5K -$601.0K
Cash From Investing Activities $0.00 -$424.2K
Cash From Financing Activities $1.397M $1.311M
Net Change In Cash $1.048M $329.4K
YoY Change 218.22% -201.57%
FREE CASH FLOW
Cash From Operating Activities -$350.5K -$601.0K
Capital Expenditures $0.00 $424.2K
Free Cash Flow -$350.5K -$1.025M
YoY Change -65.81% 318.78%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.</p>
CY2023Q3 us-gaap Concentration Risk Credit Risk
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.</p>
CY2023Q3 vrdr Risks And Uncertainties Policytextblock
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company operates in the production and distribution of renewable commodities that are subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with a production operation for renewable commodities, including the potential risk of business failure.</p>
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CY2023Q3 vrdr Amortisation Charge For The Year
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CY2023Q3 us-gaap Lease Cost
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CY2023Q3 vrdr Current Liabilities Lease Payment
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CY2023Q3 us-gaap Common Stock Shares Authorized
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CY2023Q3 vrdr Deferred Tax Assets
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CY2023Q3 vrdr Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance Three
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CY2023Q3 vrdr Loss Before Income Taxes
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CY2023Q3 vrdr Income Tax Expense At Statutory Rate
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CY2023Q3 vrdr Non Deductible Items
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CY2022Q3 vrdr Non Deductible Items
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CY2023Q3 vrdr Carried Forward Tax Losses
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CY2023Q3 vrdr Us Tax Regime
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