2023 Q3 Form 10-Q Financial Statement

#000182912623005402 Filed on August 14, 2023

View on sec.gov

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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<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>
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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.

Files In Submission

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0001829126-23-005402-index-headers.html Edgar Link pending
0001829126-23-005402-index.html Edgar Link pending
0001829126-23-005402.txt Edgar Link pending
0001829126-23-005402-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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wnlv-20230630.xsd Edgar Link pending
wnlv-20230630_lab.xml Edgar Link unprocessable
wnlv-20230630_def.xml Edgar Link unprocessable
wnlv-20230630_cal.xml Edgar Link unprocessable
wnlv-20230630_pre.xml Edgar Link unprocessable
winvestgroup_10q_htm.xml Edgar Link completed