2022 Q2 Form 10-Q Financial Statement

#000159991622000199 Filed on July 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $8.266M $4.117M $2.484M
YoY Change 232.8% 33.72%
Cost Of Revenue $3.680M $1.928M $837.0K
YoY Change 339.74% 68.42%
Gross Profit $4.586M $2.188M $1.647M
YoY Change 178.45% 13.18%
Gross Profit Margin 55.48% 53.16% 66.3%
Selling, General & Admin $1.161M $999.1K $932.3K
YoY Change 24.54% 90.38%
% of Gross Profit 25.32% 45.66% 56.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.45K $7.980K $0.00
YoY Change 2560.0%
% of Gross Profit 0.29% 0.36% 0.0%
Operating Expenses $1.161M $999.1K $932.3K
YoY Change 24.54% 90.38%
Operating Profit $3.425M $1.189M $714.7K
YoY Change 379.21% -15.58%
Interest Expense $0.00
YoY Change -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net $7.727K -$313.0K $116.1K
YoY Change -93.34%
Pretax Income $3.433M $1.210M $830.8K
YoY Change 313.19% -26.85%
Income Tax $1.285M $340.3K $265.1K
% Of Pretax Income 37.45% 28.13% 31.91%
Net Earnings $2.147M $869.8K $565.7K
YoY Change 279.59% -18.96%
Net Earnings / Revenue 25.98% 21.13% 22.77%
Basic Earnings Per Share $0.20 $0.05
Diluted Earnings Per Share $0.10 $0.04 $0.03
COMMON SHARES
Basic Shares Outstanding 10.65M shares 10.65M shares
Diluted Shares Outstanding 20.65M shares 20.65M shares

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.913M $2.583M $918.7K
YoY Change 108.28% 165.05%
Cash & Equivalents $1.913M $2.583M $918.7K
Short-Term Investments
Other Short-Term Assets $6.020M $3.035M $1.120M
YoY Change 437.47% 461.76%
Inventory $181.4K $47.99K $613.8K
Prepaid Expenses
Receivables $0.00 $4.720K $1.087M
Other Receivables $100.00 $16.78K $0.00
Total Short-Term Assets $8.115M $5.688M $3.739M
YoY Change 117.01% 137.18%
LONG-TERM ASSETS
Property, Plant & Equipment $1.310M $568.2K $193.0K
YoY Change 578.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.451M $798.5K $207.8K
YoY Change 598.34% 13690.74%
TOTAL ASSETS
Total Short-Term Assets $8.115M $5.688M $3.739M
Total Long-Term Assets $1.451M $798.5K $207.8K
Total Assets $9.567M $6.486M $3.947M
YoY Change 142.36% 169.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $228.6K $261.8K $276.7K
YoY Change -17.41%
Accrued Expenses $270.5K $219.9K $50.79K
YoY Change 432.62%
Deferred Revenue
YoY Change
Short-Term Debt $460.00 $460.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.671M $2.455M $1.364M
YoY Change 95.82% 260.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $727.5K $219.5K $35.81K
YoY Change 1931.42%
Total Long-Term Liabilities $727.5K $219.5K $35.81K
YoY Change 1931.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.671M $2.455M $1.364M
Total Long-Term Liabilities $727.5K $219.5K $35.81K
Total Liabilities $3.398M $2.674M $1.400M
YoY Change 142.78% 292.33%
SHAREHOLDERS EQUITY
Retained Earnings $6.732M $3.646M
YoY Change
Common Stock $1.065K $1.065K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.168M $3.812M $2.548M
YoY Change
Total Liabilities & Shareholders Equity $9.567M $6.486M $3.947M
YoY Change 142.36% 169.83%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $2.147M $869.8K $565.7K
YoY Change 279.59% -18.96%
Depreciation, Depletion And Amortization $13.45K $7.980K $0.00
YoY Change 2560.0%
Cash From Operating Activities $451.7K $2.074M $392.7K
YoY Change 15.02% 620.16%
INVESTING ACTIVITIES
Capital Expenditures $229.4K -$8.490K $109.4K
YoY Change 109.66%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$229.4K $8.490K -$109.4K
YoY Change 109.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 460.0 0.000
YoY Change -99.86%
NET CHANGE
Cash From Operating Activities 451.7K 2.074M 392.7K
Cash From Investing Activities -229.4K 8.490K -109.4K
Cash From Financing Activities 460.0 0.000
Net Change In Cash 222.2K 2.083M 283.2K
YoY Change -21.54% 240.76%
FREE CASH FLOW
Cash From Operating Activities $451.7K $2.074M $392.7K
Capital Expenditures $229.4K -$8.490K $109.4K
Free Cash Flow $222.2K $2.083M $283.2K
YoY Change -21.54%

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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
265988 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
19453 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-120935 usd
worldscan Softwareperiod
Softwareperiod
-28232 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1877878 usd
worldscan Increasedecreaserightofuseasset
Increasedecreaserightofuseasset
-146103 usd
worldscan Increasedecreaserightofuseasset
Increasedecreaserightofuseasset
-25037 usd
worldscan Othercurrentliabilitiesperiod
Othercurrentliabilitiesperiod
-12951 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-175100 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
91082 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-243462 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-109426 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-243462 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-109426 usd
worldscan Neteffectofexchangeratechangesoncash
Neteffectofexchangeratechangesoncash
-251169 usd
worldscan Neteffectofexchangeratechangesoncash
Neteffectofexchangeratechangesoncash
-37564 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-669731 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-55908 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2583218 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
974606 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1913487 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
918698 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1269132 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
110119 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zDEhOdaIwrt5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86C_zLzLJfvxyPHh">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles 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 amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<p id="xdx_845_eus-gaap--RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure_zoXpS7xfWt87" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86E_zJCu6D2BKeV">Revenue recognition</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The Company adopted ASC 606 – Revenue from contracts with Customers: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="background-color: white">The following table summarizes our revenue recognized under ASC 606 in our condensed consolidated statements of operations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="6" style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-size: 10pt"><b>Period Ended</b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="6" style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-size: 10pt"><b>April 30,</b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="3" style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-size: 10pt"><b>2022</b></span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><span style="font-size: 10pt"><b>2021</b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="3" style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt"><b>Revenues</b></span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">Product sales</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">13,140,491</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">  4,570,702</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">Drone imaging and video production</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">20,958</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: MS Mincho; font-size: 10pt">-</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">Program for educational institution</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">34,985</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">-</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">Total Revenue Under ASC 606</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">                                      13,196,434</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">  4,570,702</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Yu Gothic,sans-serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">Total Revenue Under ASC 606</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td colspan="2" style="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">13,196,434</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt"> </td> <td style="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-size: 10pt">  4,570,702</span></td></tr> <tr> <td style="width: 46%"> </td> <td style="width: 3%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="width: 31%"> </td> <td style="width: 3%"> </td> <td style="width: 3%"> </td> <td style="width: 11%"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><i><span style="text-decoration: underline">Revenue from product sales</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt; background-color: white">Revenue for products is recognized when the products are delivered to the customer and the customer completes the product inspection. Cash receipts for undelivered products are recorded as deferred revenues. As of April 30, 2022, the Company had deferred revenues of $4,758.</span><span style="font-size: 9pt; background-color: white"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><i><span style="text-decoration: underline">Revenue from drone imaging and video production</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt; background-color: white">Revenue for drone imaging and video production is recognized when the products and/or services are delivered or provided to the customer and the customer completes the product inspection. Cash receipts for undelivered products or services are recorded as deferred revenues. As of April 30, 2022, the Company had no deferred revenues related to drone imaging and video production</span><span style="font-size: 9pt; background-color: white">.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><i><span style="text-decoration: underline">Revenue from educational institution program</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">Revenue for educational institution fees is recognized when the services are provided to the customer. Cash receipts for undelivered products are recorded as deferred revenues. As of April 30, 2022, the Company had no deferred revenues related to the educational institution program.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2022Q2 worldscan Advancepayments
Advancepayments
5970709 usd
CY2021Q4 worldscan Longtermasset
Longtermasset
177526 usd
CY2021Q4 worldscan Depreciationexpense
Depreciationexpense
16136 usd
worldscan Operatingleasecosts
Operatingleasecosts
165942 usd

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