2024 Q2 Form 10-K Financial Statement

#000182912624002653 Filed on April 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $12.50K $125.0K $339.9K
YoY Change -77.18% 54.46% 280.85%
Cost Of Revenue $5.840K -$2.440K $120.9K
YoY Change -85.34% -104.76% 133.69%
Gross Profit $6.660K $127.4K $219.1K
YoY Change -55.42% 329.57% 483.61%
Gross Profit Margin 53.28% 101.95% 64.44%
Selling, General & Admin $148.0K $152.0K $1.083M
YoY Change 6.15% 66.44% 195.54%
% of Gross Profit 2222.37% 119.32% 494.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $148.0K $152.0K $1.083M
YoY Change 6.16% -13.39% -54.64%
Operating Profit -$141.4K -$24.62K -$863.7K
YoY Change 13.55% -83.12% -63.24%
Interest Expense $833.00 -$2.320K $11.79K
YoY Change -86.34% 452.79%
% of Operating Profit
Other Income/Expense, Net $87.61K -$14.31K -$11.79K
YoY Change 966.64% 975.94% 488.67%
Pretax Income -$53.74K -$41.26K -$875.5K
YoY Change -53.78% -97.89% -62.77%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$53.74K -$41.26K -$875.5K
YoY Change -53.78% -97.89% -62.77%
Net Earnings / Revenue -429.92% -33.02% -257.53%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share $0.00 $0.00 -$0.05
COMMON SHARES
Basic Shares Outstanding 635.2M shares 18.33M shares 17.91M shares
Diluted Shares Outstanding 17.91M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.13K $45.07K $45.07K
YoY Change -66.32% 21.32% 21.32%
Cash & Equivalents $38.13K $45.07K $45.07K
Short-Term Investments
Other Short-Term Assets $117.2K $61.23K $61.23K
YoY Change 1296.66% -60.59% -60.59%
Inventory
Prepaid Expenses $117.2K $61.23K
Receivables $19.20K $4.100K $19.81K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $178.0K $126.1K $126.1K
YoY Change 18.48% -42.85% -42.85%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.830K $800.00 $800.00
YoY Change
Other Assets $1.090K $1.090K $1.090K
YoY Change
Total Long-Term Assets $10.92K $1.894K $1.890K
YoY Change 898.17%
TOTAL ASSETS
Total Short-Term Assets $178.0K $126.1K $126.1K
Total Long-Term Assets $10.92K $1.894K $1.890K
Total Assets $188.9K $128.0K $128.0K
YoY Change 24.84% -41.99% -41.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.328K $76.45K $76.45K
YoY Change -96.38% 221.96% 221.89%
Accrued Expenses $58.94K $54.32K $54.32K
YoY Change 275.29% -55.12% -55.12%
Deferred Revenue
YoY Change
Short-Term Debt $633.9K $799.8K $799.8K
YoY Change -17.69% 42.36% 42.36%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $945.2K $1.031M $1.031M
YoY Change -0.54% 45.85% 45.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $945.2K $1.031M $1.031M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $945.2K $1.031M $1.031M
YoY Change -0.54% 45.85% 45.85%
SHAREHOLDERS EQUITY
Retained Earnings -$104.8M -$104.7M
YoY Change 0.16% 0.84%
Common Stock $85.16K $18.33K
YoY Change 385.9% 5.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$756.3K -$902.6K -$902.6K
YoY Change
Total Liabilities & Shareholders Equity $188.9K $128.0K $128.0K
YoY Change 24.84% -41.99% -41.99%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$53.74K -$41.26K -$875.5K
YoY Change -53.78% -97.89% -62.77%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$227.0K -$4.990K -$230.1K
YoY Change 220.62% -96.2% -40.35%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $87.50K $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $87.50K $0.00
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 13.05K 6.240K $238.0K
YoY Change -85.55% -95.56% -39.44%
NET CHANGE
Cash From Operating Activities -227.0K -4.990K -$230.1K
Cash From Investing Activities 87.50K 0.000
Cash From Financing Activities 13.05K 6.240K $238.0K
Net Change In Cash -126.4K 1.250K $7.922K
YoY Change -747.47% -94.71% -78.67%
FREE CASH FLOW
Cash From Operating Activities -$227.0K -$4.990K -$230.1K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_840_eus-gaap--FiscalPeriod_zRyVzZ3s9tle" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_867_z8P768IK6hlh">Change in Fiscal Year-End</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
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CY2023 us-gaap Use Of Estimates
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<p id="xdx_847_eus-gaap--UseOfEstimates_zcFKrLXPGDG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_863_zIK79oy6CXad">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of condensed 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 condensed consolidated 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 condensed consolidated 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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
CY2023 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<p id="xdx_84A_eus-gaap--RevenueRecognitionSalesOfServices_zPlJYkvohq6l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_866_zCt1Fsl92mO1">Production – Cost of Revenue</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
45070 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
37148 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1810116 usd
CY2023Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
0 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
0 usd
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
0 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
210505 usd
CY2023Q4 wnlv Notes Payable Related Parties
NotesPayableRelatedParties
758157 usd
CY2022Q4 wnlv Notes Payable Related Parties
NotesPayableRelatedParties
561830 usd
CY2023Q4 wnlv Project Advances
ProjectAdvances
100000 usd
CY2022Q4 wnlv Project Advances
ProjectAdvances
100000 usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
4500000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
4500000000 shares
CY2023Q4 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
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18326075 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18326075 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17411217 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17411217 shares
CY2023 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
CY2023 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
3420 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
300000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
300000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
227838680 shares
CY2023Q4 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
CY2023 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
Each share of preferred stock is convertible to 50 shares of common stock.

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