2023 Q1 Form 10-Q Financial Statement
#000159991623000047 Filed on March 08, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
Revenue | $5.257K | $4.930M |
YoY Change | -99.89% | 136.25% |
Cost Of Revenue | $3.492K | $2.384M |
YoY Change | -99.85% | 212.9% |
Gross Profit | $7.740M | $2.546M |
YoY Change | 203.99% | 92.17% |
Gross Profit Margin | 147226.02% | 51.64% |
Selling, General & Admin | $4.110M | $955.2K |
YoY Change | 330.22% | 35.92% |
% of Gross Profit | 53.1% | 37.52% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $12.82K | $8.730K |
YoY Change | 46.85% | |
% of Gross Profit | 0.17% | 0.34% |
Operating Expenses | $4.110M | $955.2K |
YoY Change | 330.22% | 35.92% |
Operating Profit | $3.630M | $1.591M |
YoY Change | 128.19% | 155.72% |
Interest Expense | $0.00 | |
YoY Change | ||
% of Operating Profit | 0.0% | |
Other Income/Expense, Net | $0.00 | $19.46K |
YoY Change | -100.0% | -81.8% |
Pretax Income | $3.630M | $1.610M |
YoY Change | 125.43% | 120.89% |
Income Tax | $1.608M | $671.7K |
% Of Pretax Income | 44.29% | 41.72% |
Net Earnings | $2.022M | $938.5K |
YoY Change | 115.47% | 166.31% |
Net Earnings / Revenue | 38467.59% | 19.04% |
Basic Earnings Per Share | $0.19 | $0.09 |
Diluted Earnings Per Share | $0.10 | $0.05 |
COMMON SHARES | ||
Basic Shares Outstanding | 10.65M shares | 10.65M shares |
Diluted Shares Outstanding | 20.65M shares | 20.65M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.551M | $1.948M |
YoY Change | -20.41% | 189.25% |
Cash & Equivalents | $1.551M | $1.948M |
Short-Term Investments | ||
Other Short-Term Assets | $22.41M | $3.666M |
YoY Change | 511.18% | 253.42% |
Inventory | $458.00 | $433.8K |
Prepaid Expenses | ||
Receivables | $153.3K | $15.75K |
Other Receivables | $690.00 | $0.00 |
Total Short-Term Assets | $24.11M | $6.064M |
YoY Change | 297.64% | 85.79% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $1.045M | $1.230M |
YoY Change | -15.06% | 1094.73% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $137.1K | |
YoY Change | ||
Total Long-Term Assets | $1.317M | $1.380M |
YoY Change | -4.58% | 1065.1% |
TOTAL ASSETS | ||
Total Short-Term Assets | $24.11M | $6.064M |
Total Long-Term Assets | $1.317M | $1.380M |
Total Assets | $25.43M | $7.444M |
YoY Change | 241.62% | 120.08% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $2.495M | $267.0K |
YoY Change | 834.49% | 22.05% |
Accrued Expenses | $1.506M | $253.7K |
YoY Change | 493.38% | 387.31% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $460.00 | $460.00 |
YoY Change | 0.0% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $10.71M | $1.906M |
YoY Change | 461.9% | 51.75% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $561.2K | $844.1K |
YoY Change | -33.51% | 1558.04% |
Total Long-Term Liabilities | $561.2K | $844.1K |
YoY Change | -33.51% | 1558.04% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $10.71M | $1.906M |
Total Long-Term Liabilities | $561.2K | $844.1K |
Total Liabilities | $11.27M | $2.751M |
YoY Change | 309.86% | 110.42% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $14.58M | |
YoY Change | ||
Common Stock | $1.065K | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $14.16M | $4.693M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $25.43M | $7.444M |
YoY Change | 241.62% | 120.08% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $2.022M | $938.5K |
YoY Change | 115.47% | 166.31% |
Depreciation, Depletion And Amortization | $12.82K | $8.730K |
YoY Change | 46.85% | |
Cash From Operating Activities | -$4.873M | -$626.7K |
YoY Change | 677.47% | 107.82% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $0.00 | $14.03K |
YoY Change | -100.0% | |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | -$14.03K | |
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 | ||
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -$4.873M | -$626.7K |
Cash From Investing Activities | -$14.03K | |
Cash From Financing Activities | ||
Net Change In Cash | -$4.286M | -$635.0K |
YoY Change | 574.92% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$4.873M | -$626.7K |
Capital Expenditures | $0.00 | $14.03K |
Free Cash Flow | -$4.873M | -$640.8K |
YoY Change | 660.45% |
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CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
3812221 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
938541 | usd |
CY2022Q1 | WDSP |
Foreign Currency Translation Gain Loss
ForeignCurrencyTranslationGainLoss
|
-57443 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
4693319 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2022241 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
938541 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Period Increase Decrease
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease
|
12817 | usd |
CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Period Increase Decrease
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease
|
8734 | usd |
CY2023Q1 | WDSP |
Amortizationlongtermdeposits
Amortizationlongtermdeposits
|
13824 | usd |
CY2023Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
73153 | usd |
CY2022Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
81246 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1866010 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-11247 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
-3628404 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
-633996 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-390316 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
|
-126 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
|
16735 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
5107 | usd |
CY2023Q1 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
203551 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-300962 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
8586 | usd |
CY2023Q1 | WDSP |
Taxespayable
Taxespayable
|
1607464 | usd |
CY2022Q1 | WDSP |
Taxespayable
Taxespayable
|
891602 | usd |
CY2023Q1 | us-gaap |
Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
|
-6664286 | usd |
CY2022Q1 | us-gaap |
Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
|
-1460087 | usd |
CY2023Q1 | WDSP |
Increasedecreaserightofuseasset
Increasedecreaserightofuseasset
|
-78060 | usd |
CY2022Q1 | WDSP |
Increasedecreaserightofuseasset
Increasedecreaserightofuseasset
|
-81652 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4872778 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-626747 | usd |
CY2022Q1 | WDSP |
Cashpaidforassets
Cashpaidforassets
|
-14029 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-14029 | usd |
CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
587266 | usd |
CY2022Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5808 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-4285512 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-634968 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5836065 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2583218 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1550553 | usd |
CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1948250 | usd |
CY2022Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
1207972 | usd |
CY2023Q1 | us-gaap |
Reclassifications
Reclassifications
|
<p id="xdx_84D_eus-gaap--Reclassifications_zTZIxFgAvQXk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b><span id="xdx_865_zXXFs2rMjs3d">Reclassification</span></b></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">Certain amounts in the prior period have been reclassified to conform to the current period presentation.</span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="color: #000000"> </span></p> | |
CY2023Q1 | 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"><span id="xdx_86C_zLzLJfvxyPHh" style="color: #000000"><b>Use of Estimates</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="color: #000000"> </span></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> | |
CY2023Q1 | 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"><span id="xdx_86E_zJCu6D2BKeV" style="color: #000000"><b>Revenue recognition</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="color: #000000"> </span></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"><span style="background-color: white">Revenue amount represents the invoiced value, net of a value-added tax (“Consumption Tax”) and applicable local government levies. The Consumption Tax on sales is calculated at 10% of gross sales. The Company is subject to consumption taxes in Japan for the year ended October 31, 2022. </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 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: 11pt Calibri, Helvetica, Sans-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-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months 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-family: Times New Roman, Times, Serif; font-size: 10pt"><b>January 31,</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-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</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-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</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-family: Times New Roman, Times, Serif; 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; background-color: white"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; 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-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,344</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-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,906,820</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Crypto miners sales, net</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-family: Times New Roman, Times, Serif; font-size: 10pt">7,737,907</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: Times New Roman, Times, 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-family: Times New Roman, Times, Serif; font-size: 10pt">Program for educational institution</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 colspan="2" style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td> <td style="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"> </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: Times New Roman, Times, Serif; font-size: 10pt">23,208</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-right: 4.95pt; padding-left: 4.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other</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-family: Times New Roman, Times, Serif; font-size: 10pt">913</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-family: Times New Roman, Times, 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-family: Times New Roman, Times, Serif; 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-family: Times New Roman, Times, Serif; font-size: 10pt">7,743,164</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-family: Times New Roman, Times, Serif; font-size: 10pt">4,930,028</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; 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"><span style="font-family: Times New Roman, Times, Serif; 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-family: Times New Roman, Times, Serif; 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-family: Times New Roman, Times, Serif; font-size: 10pt">7,743,164</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-family: Times New Roman, Times, Serif; 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-family: Times New Roman, Times, Serif; font-size: 10pt">4,930,028</span></td></tr> <tr style="background-color: white"> <td style="width: 49%"> </td> <td style="width: 3%"> </td> <td style="width: 3%"> </td> <td style="width: 2%"> </td> <td style="width: 16%"> </td> <td style="width: 7%"> </td> <td style="width: 9%"> </td> <td style="width: 11%"> </td></tr> </table> <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: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="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 January 31, 2023, no deferred revenues are related to product sales. </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"><i><span style="text-decoration: underline">Revenue from crypto miners sales</span></i> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">During the period ended January 31, 2023, the Company acted as an agent in facilitating the sales of crypto miners, produced by a third-party manufacturer, to customers of the Company. Revenue for the sale of crypto miners was recognized when the miners were delivered to the customers and the customers completed the inspection of the miners. Management assessed the Company’s contracts with the third-party manufacturer and customers in consideration of ASC 606, “Revenue from Contracts with Customers”, and determined the Company as the agent in said transactions. As such, the company recognized crypto miner sales net of costs. For the period ended January 31, 2023, Cost of goods sold for miner purchases, netted by the gross sales was $26,084,482. As of January 31, 2023, $1,461,766 of deferred revenues are related to deposits for crypto miners.</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"><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"><i> </i></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 January 31, 2023, 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"><span style="color: #000000; background-color: white"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="color: #000000"> </span></p> | |
CY2023Q1 | WDSP |
Concentrationofpurchases
Concentrationofpurchases
|
<p id="xdx_846_ecustom--Concentrationofpurchases_zt5pb194bUFj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b><span id="xdx_86E_zjVpupuOWTmk">Concentration of Purchases</span></b> </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">Net purchase from suppliers accounting for 10% or more of total purchases are as follows:</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">For the period ended January 31, 2023, 100% of the inventories were purchased from G-Force in the amount of $3,492.</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">For the period ended January 31, 2022, 90.7% of the inventories were purchased from G-Force in the amount of $2,161,817.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | |
CY2023Q1 | WDSP |
Concentrationofrevenues
Concentrationofrevenues
|
<p id="xdx_84E_ecustom--Concentrationofrevenues_zrrGejthrnD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b><span id="xdx_860_znxpFNtOrA2f">Concentration of Revenues</span></b> </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">Gross revenues from customers accounting for 10% or more of total revenues are as follows:</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">For the period ended January 31, 2023, none.</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">For the period ended January 31, 2022, 98.2% of total revenue was generated from Drone Net in the amount of $4,839,829.</span></p> | |
CY2023Q1 | WDSP |
Accountsreceivablepolicy
Accountsreceivablepolicy
|
<p id="xdx_807_ecustom--Accountsreceivablepolicy_zsE4H3W30lE4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b><span id="xdx_828_zYREZWEFeksh">NOTE 4 - ACCOUNTS RECEIVABLE</span></b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">Accounts receivable from customers totaled $153,310 as of January 31, 2023 and $1,847,068 as of October 31, 2022. No bad debt allowance was provided as of January 31, 2023 and October 31, 2022.</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"><b>Concentration of Accounts Receivable</b></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">Accounts receivable from customers accounting for 10% or more of total accounts receivable are as follows:</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">For the period ended January 31, 2023, 99.9% of total accounts receivable was owed to the Company by Soar in the amount of $153,291. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="color: #000000; background-color: white"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #000000"> </span></p> | |
CY2023Q1 | WDSP |
Advancepayments
Advancepayments
|
22408075 | usd |
CY2022Q4 | WDSP |
Advancepayments
Advancepayments
|
16389562 | usd |
CY2023Q1 | WDSP |
Depreciationexpenseperiod
Depreciationexpenseperiod
|
12817 | usd |
CY2022 | WDSP |
Longtermassetspurchased
Longtermassetspurchased
|
227180 | usd |
CY2022 | WDSP |
Depreciationexpenseperiod
Depreciationexpenseperiod
|
50535 | usd |
CY2023Q1 | WDSP |
Deferredrevminers
Deferredrevminers
|
1461766 | usd |
CY2022Q4 | WDSP |
Deferredrevminers
Deferredrevminers
|
7401171 | usd |
CY2023Q1 | WDSP |
Incometaxexpense
Incometaxexpense
|
1607773 | usd |
CY2022Q1 | WDSP |
Incometaxexpense
Incometaxexpense
|
671720 | usd |
CY2023Q1 | WDSP |
Incometaxpayable
Incometaxpayable
|
5248647 | usd |
CY2022Q4 | WDSP |
Incometaxpayable
Incometaxpayable
|
3329572 | usd |
CY2023Q1 | WDSP |
Salaryadvance
Salaryadvance
|
19976 | usd |
CY2023Q1 | WDSP |
Advancedexpenses
Advancedexpenses
|
458 | usd |
WDSP |
Operatingleasecosts
Operatingleasecosts
|
73153 | usd | |
CY2023Q1 | WDSP |
Accruedexpensesandotherpayables
Accruedexpensesandotherpayables
|
2475483 | usd |
CY2022Q4 | WDSP |
Accruedexpensesandotherpayables
Accruedexpensesandotherpayables
|
2453668 | usd |