$WDDD
Worlds Inc

2023 Q2 Form 10-Q Financial Statement

#000126493123000023 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $30.68K $25.72K $286.5K
YoY Change -78.23% -91.02% -64.49%
% of Gross Profit
Research & Development $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $30.68K $11.57K $286.5K
YoY Change -78.23% -95.96% -64.49%
Operating Profit -$84.50K -$79.83K -$286.5K
YoY Change -59.48% -72.14% -64.49%
Interest Expense $18.92K $18.71K -$453.2K
YoY Change 0.0% -104.13% -229.89%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$95.62K -$29.51K -$739.8K
YoY Change -745.21% -96.01% 61.57%
Income Tax
% Of Pretax Income
Net Earnings -$95.62K -$29.51K -$739.8K
YoY Change -745.06% -96.01% 61.57%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00 -$0.01
Diluted Earnings Per Share $0.00 $0.00 -$12.95K
COMMON SHARES
Basic Shares Outstanding 57.11M shares 57.11M shares 57.11M shares
Diluted Shares Outstanding 57.11M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.90K $80.68K $64.21K
YoY Change 24.15% 25.65% -88.98%
Cash & Equivalents $45.90K $80.68K $64.21K
Short-Term Investments
Other Short-Term Assets $8.220K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $45.90K $80.68K $72.43K
YoY Change 1.56% 11.38% -87.57%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $235.0K
YoY Change -100.0% -100.0% 6.43%
TOTAL ASSETS
Total Short-Term Assets $45.90K $80.68K $72.43K
Total Long-Term Assets $0.00 $0.00 $235.0K
Total Assets $45.90K $80.68K $307.4K
YoY Change -83.82% -73.75% -61.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $800.6K $800.4K $904.2K
YoY Change -3.3% -11.48% -37.53%
Accrued Expenses $1.795M $1.716M $1.556M
YoY Change 15.08% 10.24% 0.66%
Deferred Revenue
YoY Change
Short-Term Debt $773.3K $773.3K $773.3K
YoY Change 0.0% 0.0% 0.0%
Long-Term Debt Due $27.00K $45.00K
YoY Change
Total Short-Term Liabilities $3.395M $3.335M $3.234M
YoY Change 7.43% 3.11% -14.15%
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 $3.395M $3.335M $3.234M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.395M $3.335M $3.234M
YoY Change 7.43% 3.11% -14.15%
SHAREHOLDERS EQUITY
Retained Earnings $46.95M $46.85M
YoY Change -200.94%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.349M -$3.254M -$2.927M
YoY Change
Total Liabilities & Shareholders Equity $45.90K $80.68K $307.4K
YoY Change -83.82% -73.75% -61.75%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$95.62K -$29.51K -$739.8K
YoY Change -745.06% -96.01% 61.57%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$24.58K -$41.14K -$344.1K
YoY Change -90.64% -88.04% 7.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $7.800K $69.04K $363.9K
YoY Change -81.03%
Cash From Investing Activities $7.800K $69.04K $363.9K
YoY Change -81.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.00K $45.00K
YoY Change -103.0%
NET CHANGE
Cash From Operating Activities -24.58K -$41.14K -344.1K
Cash From Investing Activities 7.800K $69.04K 363.9K
Cash From Financing Activities -18.00K $45.00K
Net Change In Cash -34.78K $72.90K 19.79K
YoY Change -110.33% 268.35% -81.71%
FREE CASH FLOW
Cash From Operating Activities -$24.58K -$41.14K -$344.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q1 us-gaap Revenue Recognition Services Licensing Fees
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<p id="xdx_80C_eus-gaap--RevenueRecognitionServicesLicensingFees_zz0TGZp8hUq1" style="font: 11pt/15.95pt Times New Roman, Times, Serif; margin: 0 0 10pt"><b>NOTE 7 - <span id="xdx_82C_zjwlV4Przt1f">PATENTS</span></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Worlds Inc. currently has <span id="xdx_903_ecustom--NumberOfPatents_dc_uInterger_c20230101__20230331_zptpR4KUJhF6" title="Number of patents">nine </span>patents, <span id="xdx_902_ecustom--PatentNumberOne_uInterger_c20230101__20230331_zD9x8ApZv2Pa" title="Patent number one">6,219,045</span> - <span id="xdx_90E_ecustom--PatentNumberTwo_uInterger_c20230101__20230331_zGGFex3Jprj" title="Patent number two">7,181,690 </span>- <span id="xdx_903_ecustom--PatentNumberThree_uInterger_c20230101__20230331_zcbY1z5rls6h" title="Patent number three">7,493,558</span> – <span id="xdx_90E_ecustom--PatentNumberFour_uInterger_c20230101__20230331_zMZfGs7LzRcf" title="Patent number four">7,945,856</span>, - <span id="xdx_901_ecustom--PatentNumberFive_uInterger_c20230101__20230331_zlbxMnh6F4Fa" title="Patent number five">8,082,501</span>, – <span id="xdx_904_ecustom--PatentNumberSix_uInterger_c20230101__20230331_zjqQfu0xpsee" title="Patent number six">8,145,998</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">– <span id="xdx_904_ecustom--PatentNumberSeven_uInterger_c20230101__20230331_z0OHxehsv2Ij" title="Patent number seven">8,161,383</span>, – <span id="xdx_90C_ecustom--PatentNumberEight_uInterger_c20230101__20230331_zVJ8DSawY2Qe" title="Patent number eight">8,407,592</span> and <span id="xdx_902_ecustom--PatentNumberNine_uInterger_c20230101__20230331_zZpGieBvtq9b" title="Patent number nine">8,640,028</span>. All of the patents have expired.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 4pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 11pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"> </p>
CY2023Q1 WDDD Number Of Patents
NumberOfPatents
9 interger
CY2023Q1 WDDD Patent Number One
PatentNumberOne
6219045 interger
CY2023Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
124230 usd
CY2023Q1 WDDD Convertible Notes Payable1
ConvertibleNotesPayable1
649049 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
773279 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
773279 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
-0 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
-0 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
-0 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
-0 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
773279 usd
CY2023Q1 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
18711 usd
CY2018Q1 WDDD Stock Split Terms
StockSplitTerms
All common stock numbers and exercise prices in this Note are reflected on a post reverse split (5 to 1) basis, which reverse split was effectuated on February 9, 2018
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriod
15900000 shares
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
300000 shares
CY2022Q1 WDDD Stock Option Plan Expense1
StockOptionPlanExpense1
15205 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0137 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.42 pure
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.05
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
0.05
CY2022Q1 WDDD Directors Options Expected Life
DirectorsOptionsExpectedLife
P5Y
CY2022Q1 WDDD Options Repriced
OptionsRepriced
900000 shares
CY2023Q1 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
0 shares
CY2023Q1 WDDD Patent Number Two
PatentNumberTwo
7181690 interger
CY2023Q1 WDDD Patent Number Three
PatentNumberThree
7493558 interger
CY2023Q1 WDDD Patent Number Four
PatentNumberFour
7945856 interger
CY2023Q1 WDDD Patent Number Five
PatentNumberFive
8082501 interger
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
22400000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
22400000 shares
CY2018Q3 WDDD Terms Of Employment Agreement
TermsOfEmploymentAgreement
5
CY2018Q3 WDDD Terms Of Employment Agreement Renewal Option
TermsOfEmploymentAgreementRenewalOption
1
CY2018Q3 WDDD Officer Base Salary
OfficerBaseSalary
200000 usd
CY2018Q3 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.10 pure
CY2018Q3 WDDD Car Allowance
CarAllowance
500 usd
CY2018Q3 WDDD Annua Bonus
AnnuaBonus
0.025 pure
CY2018Q3 WDDD Additional Bonus
AdditionalBonus
75000 usd
CY2018Q3 WDDD Pretax Income Range Lower
PretaxIncomeRangeLower
1.50 pure
CY2018Q3 WDDD Pretax Income Range Higher
PretaxIncomeRangeHigher
2 pure
CY2018Q3 WDDD Additional Bonus Exceed
AdditionalBonusExceed
0.05 pure
CY2018Q3 us-gaap Life Settlement Contracts Investment Method Five Year Disclosure Premiums To Be Paid
LifeSettlementContractsInvestmentMethodFiveYearDisclosurePremiumsToBePaid
10000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
5000000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.25
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2000000 shares
CY2019Q3 WDDD Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber1
1500000 shares
CY2020Q3 WDDD Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber1
1500000 shares
CY2018Q3 us-gaap Life Settlement Contracts Fair Value Method Face Value
LifeSettlementContractsFairValueMethodFaceValue
2000000 usd
CY2018Q3 WDDD Payment Amount Based
PaymentAmountBased
2.99 pure
CY2018Q3 WDDD Restrictive Convenants Amount
RestrictiveConvenantsAmount
12 interger
CY2023Q1 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
45000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
81934 usd
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
53688 usd
CY2023Q1 WDDD Patent Number Seven
PatentNumberSeven
8161383 interger
CY2023Q1 WDDD Patent Number Eight
PatentNumberEight
8407592 interger
CY2023Q1 WDDD Patent Number Nine
PatentNumberNine
8640028 interger
CY2023Q1 us-gaap Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
81934 usd
CY2001Q2 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
205000 usd
CY2023Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1399604 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
11572 usd
CY2023Q1 us-gaap Legal Fees
LegalFees
17780 usd
CY2011Q1 WDDD Retained Shares
RetainedShares
5936115 shares
CY2023Q1 WDDD Retained Shares Own Value
RetainedSharesOwnValue
0 usd
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
69035 usd
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
185668 shares
CY2023Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.40
CY2022Q1 WDDD Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments1
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments1
367369 usd
CY2022Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
500000 shares
CY2022Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.73
CY2023Q1 WDDD Retained Shares Own
RetainedSharesOwn
364000 shares

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