2023 Q2 Form 10-K Financial Statement

#000182912623002758 Filed on April 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $54.77K $80.91K $89.26K
YoY Change 1269.23%
Cost Of Revenue $39.83K $51.25K $51.72K
YoY Change
Gross Profit $14.94K $29.66K $37.54K
YoY Change 273.53%
Gross Profit Margin 27.28% 36.66% 42.05%
Selling, General & Admin $139.4K $91.34K $366.4K
YoY Change 140.6% 205.28% 345.59%
% of Gross Profit 933.2% 307.96% 975.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $84.20K $210.5K
YoY Change
% of Gross Profit 283.88% 560.79%
Operating Expenses $139.4K $175.5K $2.387M
YoY Change 39.37% 486.66% 2803.05%
Operating Profit -$124.5K -$145.9K -$2.349M
YoY Change 29.62%
Interest Expense $6.099K $2.133K
YoY Change 3076.56%
% of Operating Profit
Other Income/Expense, Net $8.214K -$1.330K -$2.003K
YoY Change -13138.1%
Pretax Income -$116.3K -$1.957M -$2.351M
YoY Change 20.99% 6441.84% 2759.95%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$116.3K -$1.957M -$2.351M
YoY Change 20.99% 6441.84% 2759.94%
Net Earnings / Revenue -212.3% -2419.13% -2634.38%
Basic Earnings Per Share -$0.01 -$0.14
Diluted Earnings Per Share -$0.01 -$0.12 -$0.14
COMMON SHARES
Basic Shares Outstanding 17.53M shares 17.41M shares 17.08M shares
Diluted Shares Outstanding 17.53M shares 17.08M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.2K $37.15K $37.15K
YoY Change 309.4%
Cash & Equivalents $113.2K $37.15K $37.15K
Short-Term Investments
Other Short-Term Assets $8.390K $155.4K $155.4K
YoY Change 217.8%
Inventory
Prepaid Expenses $7.299K $155.4K
Receivables $15.42K $28.15K $28.15K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $150.2K $220.6K $220.7K
YoY Change 365.35%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $1.010M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.094K $0.00 $0.00
YoY Change -99.94%
TOTAL ASSETS
Total Short-Term Assets $150.2K $220.6K $220.7K
Total Long-Term Assets $1.094K $0.00 $0.00
Total Assets $151.3K $220.6K $220.7K
YoY Change -92.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.39K $23.75K $23.75K
YoY Change 227.43% 298.36% 298.49%
Accrued Expenses $15.70K $121.0K $121.0K
YoY Change 25.27%
Deferred Revenue
YoY Change
Short-Term Debt $770.2K $561.8K $561.8K
YoY Change 114.38% 417.53% 417.53%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $950.3K $706.6K $706.6K
YoY Change 142.75% 517.01% 517.03%
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 $950.3K $706.6K $706.6K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $950.3K $706.6K $706.6K
YoY Change 142.75% 517.01% 517.03%
SHAREHOLDERS EQUITY
Retained Earnings -$104.6M -$103.8M
YoY Change 2.83% 2.32%
Common Stock $17.53K $17.41K
YoY Change 0.66% 5.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$799.0K -$486.0K -$486.0K
YoY Change
Total Liabilities & Shareholders Equity $151.3K $220.6K $220.7K
YoY Change -92.47%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$116.3K -$1.957M -$2.351M
YoY Change 20.99% 6441.84% 2759.94%
Depreciation, Depletion And Amortization $84.20K $210.5K
YoY Change
Cash From Operating Activities -$70.80K -$131.3K -$385.7K
YoY Change 18.26% 324.72% 405.75%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions -$29.82K
YoY Change
Other Investing Activities $0.00 $14.33K $29.82K
YoY Change -100.0%
Cash From Investing Activities $0.00 $14.33K $29.82K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.33K 140.6K $393.0K
YoY Change 56.52% 354.84% 415.37%
NET CHANGE
Cash From Operating Activities -70.80K -131.3K -$385.7K
Cash From Investing Activities 0.000 14.33K $29.82K
Cash From Financing Activities 90.33K 140.6K $393.0K
Net Change In Cash 19.53K 23.64K $37.15K
YoY Change -29.34%
FREE CASH FLOW
Cash From Operating Activities -$70.80K -$131.3K -$385.7K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84F_eus-gaap--UseOfEstimates_zLWol6TQHrJ8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_861_zX6sXJV7RG8a">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17411217 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17411217 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16510563 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16510563 shares
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
855000 shares
CY2021 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
855000 shares
CY2022 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
3420 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
300000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
300000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
227838680 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
227838680 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
227838680 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
227838680 shares
CY2022 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
Each share of preferred stock is convertible to 50 shares of common stock.
CY2022Q4 us-gaap Other Commitment
OtherCommitment
0 usd
CY2022Q4 wnlv Notes Payable Related Partie Classified Current
NotesPayableRelatedPartieClassifiedCurrent
561830 usd
CY2021Q4 wnlv Notes Payable Related Partie Classified Current
NotesPayableRelatedPartieClassifiedCurrent
108561 usd

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