$WKSP
Worksport Ltd

2021 Form 10-K Financial Statement

#000149315222008564 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 2020
Revenue $303.8K $346.1K
YoY Change -12.25% -82.03%
Cost Of Revenue $350.7K $299.0K
YoY Change 17.29% -82.29%
Gross Profit -$46.95K $47.14K
YoY Change -199.6% -80.24%
Gross Profit Margin -15.46% 13.62%
Selling, General & Admin $7.511M $1.030M
YoY Change 629.48% 28.01%
% of Gross Profit 2184.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $211.7K $26.96K
YoY Change 685.39% 135.66%
% of Gross Profit 57.19%
Operating Expenses $7.511M $1.030M
YoY Change 629.48% 28.01%
Operating Profit -$7.558M -$982.5K
YoY Change 669.26% 73.66%
Interest Expense -$295.4K -$390.1K
YoY Change -24.27% 784.87%
% of Operating Profit
Other Income/Expense, Net -$62.33K
YoY Change
Pretax Income -$7.897M -$1.188M
YoY Change 564.95% 230.79%
Income Tax
% Of Pretax Income
Net Earnings -$7.897M -$1.188M
YoY Change 564.95% 230.79%
Net Earnings / Revenue -2599.87% -343.1%
Basic Earnings Per Share -$0.69
Diluted Earnings Per Share -$686.5K -$434.3K
COMMON SHARES
Basic Shares Outstanding 11.50M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.57M $1.108M
YoY Change 2478.72% 9139.45%
Cash & Equivalents $28.57M $1.108M
Short-Term Investments
Other Short-Term Assets $4.716M $245.5K
YoY Change 1820.54% 304.23%
Inventory $501.8K $40.80K
Prepaid Expenses
Receivables $62.68K $122.8K
Other Receivables $184.7K $167.8K
Total Short-Term Assets $34.03M $1.685M
YoY Change 1919.99% 564.1%
LONG-TERM ASSETS
Property, Plant & Equipment $1.645M $130.0K
YoY Change 1164.9% -16.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.42K $24.42K
YoY Change 0.0% 55.94%
Other Assets
YoY Change
Total Long-Term Assets $2.262M $217.4K
YoY Change 940.57% -4.49%
TOTAL ASSETS
Total Short-Term Assets $34.03M $1.685M
Total Long-Term Assets $2.262M $217.4K
Total Assets $36.29M $1.902M
YoY Change 1808.06% 295.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.145M $971.7K
YoY Change 17.79% 0.24%
Accrued Expenses $212.9K $23.88K
YoY Change 791.67% 8.55%
Deferred Revenue
YoY Change
Short-Term Debt $63.93K $307.2K
YoY Change -79.19% 972.73%
Long-Term Debt Due $263.2K $367.1K
YoY Change -28.29% 37.02%
Total Short-Term Liabilities $1.797M $1.718M
YoY Change 4.58% 29.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $317.0K $14.62K
YoY Change 2068.19% -62.69%
Total Long-Term Liabilities $317.0K $14.62K
YoY Change 2068.19% -62.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.797M $1.718M
Total Long-Term Liabilities $317.0K $14.62K
Total Liabilities $2.114M $1.733M
YoY Change 21.99% 27.04%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.18M $169.5K
YoY Change
Total Liabilities & Shareholders Equity $36.29M $1.902M
YoY Change 1808.06% 295.2%

Cashflow Statement

Concept 2021 2020
OPERATING ACTIVITIES
Net Income -$7.897M -$1.188M
YoY Change 564.95% 230.79%
Depreciation, Depletion And Amortization $211.7K $26.96K
YoY Change 685.39% 135.66%
Cash From Operating Activities -$4.047M -$695.1K
YoY Change 482.17% 32081.02%
INVESTING ACTIVITIES
Capital Expenditures -$1.132M -$7.960K
YoY Change 14117.84% -91.91%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$8.770K
YoY Change -100.0% -65.88%
Cash From Investing Activities -$1.132M -$16.73K
YoY Change 6664.73% -86.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 32.64M 1.808M
YoY Change 1705.54% 1434.0%
NET CHANGE
Cash From Operating Activities -4.047M -695.1K
Cash From Investing Activities -1.132M -16.73K
Cash From Financing Activities 32.64M 1.808M
Net Change In Cash 27.46M 1.096M
YoY Change 2405.84% -13192.23%
FREE CASH FLOW
Cash From Operating Activities -$4.047M -$695.1K
Capital Expenditures -$1.132M -$7.960K
Free Cash Flow -$2.915M -$687.2K
YoY Change 324.21% -814.37%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
USD
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2020 WKSP Interest Income
InterestIncome
USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
USD
CY2021 WKSP Stock Split Provision
StockSplitProvision
USD
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
USD
CY2021 us-gaap Salaries And Wages
SalariesAndWages
USD
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
USD
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
USD
CY2020 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
USD
CY2021 WKSP Proceeds From Share Subscriptions
ProceedsFromShareSubscriptions
USD
CY2021 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
USD
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
USD
CY2020 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
USD
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
USD
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
USD
CY2020 WKSP Purchase Of Software
PurchaseOfSoftware
USD
CY2020 WKSP Cashless Warrant Exercise
CashlessWarrantExercise
USD
CY2020 WKSP Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
USD
CY2021 WKSP Shares Issued For Share Subscriptions Payable
SharesIssuedForShareSubscriptionsPayable
USD
CY2020 WKSP Shares Issued For Loan Repayment
SharesIssuedForLoanRepayment
USD
CY2021 WKSP Convertible Promissory Note Equity Discount
ConvertiblePromissoryNoteEquityDiscount
USD
CY2021 WKSP Convertible Promissory Note Original Issue Discount
ConvertiblePromissoryNoteOriginalIssueDiscount
USD
CY2020 WKSP Noncash Stock Split Provision
NoncashStockSplitProvision
USD
CY2020 WKSP Reverse Stock Split
ReverseStockSplit
USD
CY2020 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
USD
CY2021Q4 us-gaap Notes Payable
NotesPayable
USD
CY2020Q4 us-gaap Notes Payable
NotesPayable
USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
USD
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
USD
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
shares
CY2019Q4 WKSP Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
shares
CY2020 WKSP Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Expirations Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExpirationsPrice
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
CY2020 WKSP Share Based Compensation Arrangements By Share Based Payment Award Non Options Exercise Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExerciseWeightedAverageExercisePrice
CY2021Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
shares

Files In Submission

Name View Source Status
0001493152-22-008564-index-headers.html Edgar Link pending
0001493152-22-008564-index.html Edgar Link pending
0001493152-22-008564.txt Edgar Link pending
0001493152-22-008564-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
form10-k_001.jpg Edgar Link pending
form10-k_002.jpg Edgar Link pending
form10-k_003.jpg Edgar Link pending
form10-k_004.jpg Edgar Link pending
form10-k_005.jpg Edgar Link pending
form10-k_htm.xml Edgar Link completed
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R84.htm Edgar Link pending
R85.htm Edgar Link pending
R86.htm Edgar Link pending
R87.htm Edgar Link pending
R88.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
wksp-20211231.xsd Edgar Link pending
wksp-20211231_cal.xml Edgar Link unprocessable
wksp-20211231_def.xml Edgar Link unprocessable
wksp-20211231_lab.xml Edgar Link unprocessable
wksp-20211231_pre.xml Edgar Link unprocessable