2023 Q3 Form 10-Q Financial Statement
#000182912623005402 Filed on August 14, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
Revenue | $50.00K | $54.77K | $4.000K |
YoY Change | 1049.43% | 1269.23% | |
Cost Of Revenue | $39.83K | ||
YoY Change | |||
Gross Profit | $35.00K | $14.94K | $4.000K |
YoY Change | 803.69% | 273.53% | |
Gross Profit Margin | 70.0% | 27.28% | 100.0% |
Selling, General & Admin | $94.77K | $139.4K | $57.95K |
YoY Change | 41.34% | 140.6% | 79.41% |
% of Gross Profit | 270.77% | 933.2% | 1448.75% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $0.00 | $42.09K | |
YoY Change | -100.0% | ||
% of Gross Profit | 0.0% | 1052.25% | |
Operating Expenses | $94.77K | $139.4K | $100.0K |
YoY Change | -37.35% | 39.37% | 162.05% |
Operating Profit | -$59.77K | -$124.5K | -$96.04K |
YoY Change | -59.45% | 29.62% | 151.57% |
Interest Expense | $3.368K | $6.099K | $192.00 |
YoY Change | 455.78% | 3076.56% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$3.368K | $8.214K | -$63.00 |
YoY Change | 455.78% | -13138.1% | |
Pretax Income | -$63.14K | -$116.3K | -$96.10K |
YoY Change | -57.34% | 20.99% | 197.52% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$63.14K | -$116.3K | -$96.10K |
YoY Change | -57.34% | 20.99% | 151.73% |
Net Earnings / Revenue | -126.28% | -212.3% | -2402.55% |
Basic Earnings Per Share | $0.00 | -$0.01 | -$0.01 |
Diluted Earnings Per Share | $0.00 | -$0.01 | -$5.519K |
COMMON SHARES | |||
Basic Shares Outstanding | 17.53M shares | 17.53M shares | 16.97M shares |
Diluted Shares Outstanding | 18.33M shares | 17.53M shares | 16.97M shares |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $43.81K | $113.2K | $27.65K |
YoY Change | 224.52% | 309.4% | |
Cash & Equivalents | $43.81K | $113.2K | $27.65K |
Short-Term Investments | |||
Other Short-Term Assets | $62.18K | $8.390K | $2.640K |
YoY Change | 2255.3% | 217.8% | |
Inventory | |||
Prepaid Expenses | $62.18K | $7.299K | $2.637K |
Receivables | $4.100K | $15.42K | $2.000K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $124.4K | $150.2K | $32.28K |
YoY Change | 670.82% | 365.35% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | $1.010M | ||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $1.890K | ||
YoY Change | |||
Other Assets | $1.090K | ||
YoY Change | |||
Total Long-Term Assets | $1.894K | $1.094K | $1.979M |
YoY Change | -99.9% | -99.94% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $124.4K | $150.2K | $32.28K |
Total Long-Term Assets | $1.894K | $1.094K | $1.979M |
Total Assets | $126.3K | $151.3K | $2.011M |
YoY Change | -93.44% | -92.47% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $38.03K | $64.39K | $19.67K |
YoY Change | 91.74% | 227.43% | |
Accrued Expenses | $15.94K | $15.70K | $12.54K |
YoY Change | 29.0% | 25.27% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $793.6K | $770.2K | $359.3K |
YoY Change | 88.39% | 114.38% | 1012.29% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $987.6K | $950.3K | $391.5K |
YoY Change | 117.81% | 142.75% | 1111.99% |
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 | $987.6K | $950.3K | $391.5K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $987.6K | $950.3K | $391.5K |
YoY Change | 117.81% | 142.75% | 1111.99% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$104.7M | -$104.6M | -$101.7M |
YoY Change | 2.74% | 2.83% | |
Common Stock | $18.33K | $17.53K | $17.41K |
YoY Change | 5.26% | 0.66% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$861.3K | -$799.0K | $1.619M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $126.3K | $151.3K | $2.011M |
YoY Change | -93.44% | -92.47% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$63.14K | -$116.3K | -$96.10K |
YoY Change | -57.34% | 20.99% | 151.73% |
Depreciation, Depletion And Amortization | $0.00 | $42.09K | |
YoY Change | -100.0% | ||
Cash From Operating Activities | -$92.76K | -$70.80K | -$59.87K |
YoY Change | 50.12% | 18.26% | -97.61% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $29.80K |
YoY Change | -100.0% | -100.0% | |
Cash From Investing Activities | $0.00 | $0.00 | $29.80K |
YoY Change | -100.0% | -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 | 23.38K | 90.33K | 57.71K |
YoY Change | -62.27% | 56.52% | -97.69% |
NET CHANGE | |||
Cash From Operating Activities | -92.76K | -70.80K | -59.87K |
Cash From Investing Activities | 0.000 | 0.000 | 29.80K |
Cash From Financing Activities | 23.38K | 90.33K | 57.71K |
Net Change In Cash | -69.38K | 19.53K | 27.64K |
YoY Change | 391.01% | -29.34% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$92.76K | -$70.80K | -$59.87K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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|
17501327 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
17501327 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16744919 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16744919 | shares | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-114522 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-150017 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-264539 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
1980000 | usd |
CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-96102 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1619358 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-485968 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
458040 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-654791 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-682719 | usd |
CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-116273 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-798991 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-771064 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-246119 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
42090 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
458040 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-12727 | usd | |
us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
14310 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-148054 | usd | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
1094 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
40649 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1048 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-5336 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
12354 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-132334 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-190626 | usd | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
-29800 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
29800 | usd | |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
64118 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
113736 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
257999 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
252425 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
208381 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
252425 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
76047 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
91598 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
37148 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
113195 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
91598 | usd |
CY2012Q1 | wnlv |
Issuance Of Common Stock For Donated Service
IssuanceOfCommonStockForDonatedService
|
98984744 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 250 | |
us-gaap |
Fiscal Period
FiscalPeriod
|
<p id="xdx_848_eus-gaap--FiscalPeriod_zzSo4suxpIEf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_864_zSGB8jMWktc6">Change in Fiscal Year-End</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 14, 2021, the Company’s Board of Directors approved the change in the Company’s fiscal year end from May 31 to December 31.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 250 | |
us-gaap |
Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
|
<p id="xdx_84D_eus-gaap--RevenueRecognitionSalesOfServices_zMind0pNzxoc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_862_z6EEHorXT3Zk">Production – Cost of Revenue</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost of revenue is comprised of labor expense calculated based on an hourly labor rate provided by consultants and employees to produce revenue, as well as portion of office expense which is allocated to each project. Additionally, the cost of revenue includes direct expenses related to the revenues provided, such as managing the client’s Amazon sales channel through the creation of promotional advertisements to increase sales, translation of content into different languages, coordination of projects with different work teams to maximize client benefits, production crew for celebrity endorsements and video shooting, and salaries and wages of employees involved in creating and delivering these services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2023Q2 | wnlv |
Working Capital Deficit
WorkingCapitalDeficit
|
800085 | usd |
CY2023Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-104616153 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_zX7eIN5q0Gca" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_864_zBFHjhm19CJa">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 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 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: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2023Q2 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P3Y | |
CY2022 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
1810116 | usd |
CY2023Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
113195 | usd |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
37148 | usd |
CY2023Q2 | wnlv |
Project Advances
ProjectAdvances
|
100000 | usd |
CY2022Q4 | wnlv |
Project Advances
ProjectAdvances
|
100000 | usd |
CY2022 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
1810116 | usd |
CY2023Q2 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
0 | usd |
CY2022Q4 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
0 | usd |
CY2023Q2 | us-gaap |
Notes Payable
NotesPayable
|
64118 | usd |
CY2022Q4 | us-gaap |
Notes Payable
NotesPayable
|
0 | usd |
CY2023Q2 | wnlv |
Notes Payable Related Parties
NotesPayableRelatedParties
|
706093 | usd |
CY2022Q4 | wnlv |
Notes Payable Related Parties
NotesPayableRelatedParties
|
561830 | usd |
CY2023Q2 | wnlv |
Project Advances
ProjectAdvances
|
100000 | usd |
CY2022Q4 | wnlv |
Project Advances
ProjectAdvances
|
100000 | usd |
CY2023Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | usd |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | usd |
CY2023Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
4500000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
4500000000 | shares |
CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
17526075 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
17526075 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
17411217 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
17411217 | shares |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
458040 | usd | |
CY2020Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
855000 | shares |
CY2021 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
855000 | shares |
us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
3420 | shares | |
CY2023Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
300000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
300000000 | shares |
CY2023Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
227838680 | shares |
CY2023Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
227838680 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
227838680 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
227838680 | shares |
us-gaap |
Preferred Stock Conversion Basis
PreferredStockConversionBasis
|
Each share of preferred stock is convertible to 50 shares of common stock. |