2024 Q4 Form 10-Q Financial Statement
#000126493124000052 Filed on November 12, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $61.97K | $16.26K | |
YoY Change | 281.06% | -65.61% | |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $61.97K | $16.26K | |
YoY Change | 281.06% | -65.61% | |
Operating Profit | -$127.1K | -$70.09K | |
YoY Change | 81.34% | -30.21% | |
Interest Expense | $19.13K | $20.63K | |
YoY Change | -7.29% | 7.87% | |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$90.00K | ||
YoY Change | -537.32% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$146.2K | -$90.72K | |
YoY Change | 61.18% | -540.82% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | ||
COMMON SHARES | |||
Basic Shares Outstanding | 57.11M shares | 57.11M shares | 57.11M shares |
Diluted Shares Outstanding | 57.11M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $30.00K | ||
YoY Change | -48.28% | ||
Cash & Equivalents | $31.25K | $31.09K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $20.55K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $51.80K | $31.09K | |
YoY Change | 66.62% | -53.05% | |
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 | |
YoY Change | -100.0% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $51.80K | $31.09K | |
Total Long-Term Assets | $0.00 | $0.00 | |
Total Assets | $51.80K | $31.09K | |
YoY Change | 66.62% | -89.92% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $798.9K | $797.9K | |
YoY Change | 0.13% | -1.14% | |
Accrued Expenses | $1.747M | $1.870M | |
YoY Change | -6.58% | 19.53% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $800.0K | ||
YoY Change | 3.46% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.568M | $3.471M | |
YoY Change | 2.78% | 10.38% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | ||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.568M | $3.471M | |
Total Long-Term Liabilities | $0.00 | ||
Total Liabilities | $3.568M | $3.471M | |
YoY Change | 2.78% | 10.38% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $47.12M | $47.04M | |
YoY Change | 0.16% | -201.18% | |
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$3.516M | -$3.440M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $51.80K | $31.09K | |
YoY Change | 66.62% | -89.92% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$146.2K | -$90.72K | |
YoY Change | 61.18% | -540.82% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$10.00K | ||
YoY Change | -91.07% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | $0.00 | ||
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 | 0.000 | ||
YoY Change | -100.0% | ||
NET CHANGE | |||
Cash From Operating Activities | -10.00K | ||
Cash From Investing Activities | 0.000 | ||
Cash From Financing Activities | 0.000 | ||
Net Change In Cash | -10.00K | ||
YoY Change | -147.55% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.00K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_zP9RmcFRtv5l" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Use of Estimates</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 4pt"> </span> </p> | ||
us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | usd | |
us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | usd | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
0 | usd | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
0 | usd | |
CY2024Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
20545 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
20545 | usd |
WDDD |
Assets Range Useful Lives
AssetsRangeUsefulLives
|
three to five years | ||
us-gaap |
Effective Income Tax Rate Reconciliation Tax Settlements
EffectiveIncomeTaxRateReconciliationTaxSettlements
|
0.50 | pure | |
CY2024Q3 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
773279 | usd |
CY2023Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
773279 | usd |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
16600000 | shares |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
17200000 | shares |
CY2001Q2 | us-gaap |
Litigation Reserve Noncurrent
LitigationReserveNoncurrent
|
205000 | usd |
CY2023Q4 | us-gaap |
Litigation Reserve
LitigationReserve
|
205000 | usd |
us-gaap |
Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
|
<p id="xdx_843_eus-gaap--DerivativesEmbeddedDerivatives_z78VkB6YHUyh" style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Embedded Conversion Features </b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates embedded conversion features within convertible debt under ASC 815 “Derivatives and Hedging” to determine whether the embedded conversion feature(s) should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes in fair value recorded in earnings. If the conversion feature does not require derivative treatment under ASC 815, the instrument is evaluated under ASC 470-20 “Debt with Conversion and Other Options” for consideration of any beneficial conversion feature.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
CY2024Q3 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
124230 | usd |
CY2024Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
649049 | usd |
CY2024Q3 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
773279 | usd |
CY2024Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
|
773279 | usd |
CY2024Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
|
-0 | usd |
CY2024Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
|
-0 | usd |
CY2024Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
|
-0 | usd |
CY2024Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
|
-0 | usd |
us-gaap |
Interest Expense
InterestExpense
|
56784 | usd | |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
16600000 | shares |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
16600000 | shares |
CY2019Q3 | WDDD |
Terms Of Employment Agreement
TermsOfEmploymentAgreement
|
5 | |
CY2019Q3 | WDDD |
Terms Of Employment Agreement Renewal Option
TermsOfEmploymentAgreementRenewalOption
|
1 | |
WDDD |
Employee Extension
EmployeeExtension
|
one year extension | ||
WDDD |
Employee Extension
EmployeeExtension
|
one year extension | ||
CY2019Q3 | WDDD |
Officer Base Salary
OfficerBaseSalary
|
200000 | usd |
CY2019Q3 | us-gaap |
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
|
0.10 | pure |
CY2019Q3 | WDDD |
Car Allowance
CarAllowance
|
500 | usd |
CY2019Q3 | WDDD |
Annua Bonus
AnnuaBonus
|
0.025 | pure |
CY2019Q3 | WDDD |
Additional Bonus
AdditionalBonus
|
75000 | usd |
CY2019Q3 | WDDD |
Pretax Income Range Lower
PretaxIncomeRangeLower
|
1.50 | pure |
CY2019Q3 | WDDD |
Pretax Income Range Higher
PretaxIncomeRangeHigher
|
2 | pure |
CY2019Q3 | WDDD |
Additional Bonus Exceed
AdditionalBonusExceed
|
0.05 | pure |
CY2019Q3 | 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 | |
CY2019Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
0.25 | |
CY2019Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
2000000 | shares |
CY2020Q3 | WDDD |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber1
|
1500000 | shares |
CY2021Q3 | WDDD |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber1
|
1500000 | shares |
CY2019Q3 | us-gaap |
Life Settlement Contracts Fair Value Method Face Value
LifeSettlementContractsFairValueMethodFaceValue
|
2000000 | usd |
CY2019Q3 | WDDD |
Payment Amount Based
PaymentAmountBased
|
2.99 | pure |
CY2019Q3 | WDDD |
Restrictive Convenants Amount
RestrictiveConvenantsAmount
|
12 | interger |
us-gaap |
Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
|
47000 | usd | |
CY2023Q2 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
20000 | usd |
CY2024Q3 | us-gaap |
Loans Payable
LoansPayable
|
0 | usd |
CY2024Q3 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
167577 | usd |
CY2023Q4 | us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
75614 | usd |
CY2024Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
81188 | usd |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
25000 | usd | |
CY2024Q3 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
248765 | usd |
CY2023Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
91963 | usd |
CY2023Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
56188 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
148151 | usd |
CY2024Q3 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
248765 | usd |
CY2001Q2 | us-gaap |
Litigation Reserve Noncurrent
LitigationReserveNoncurrent
|
205000 | usd |
CY2024Q3 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
1513560 | usd |
CY2024Q3 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
10637 | usd |
us-gaap |
Legal Fees
LegalFees
|
17780 | usd | |
CY2024Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
20545 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
20545 | usd |
CY2011Q1 | WDDD |
Retained Shares
RetainedShares
|
5936115 | shares |
WDDD |
Retained Shares Own Value
RetainedSharesOwnValue
|
0 | usd | |
us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
0 | usd | |
us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
76839 | usd | |
us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
200000 | shares | |
CY2023Q3 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
0.40 | |
CY2024Q3 | WDDD |
Retained Shares Own
RetainedSharesOwn
|
350000 | shares |