2023 Q4 Form 10-Q Financial Statement

#000101738623000399 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $21.09K $548.9K $11.33K
YoY Change -3.39% 4745.08%
Cost Of Revenue $2.200K $550.1K
YoY Change
Gross Profit $18.89K -$1.265K $11.33K
YoY Change -111.17%
Gross Profit Margin 89.57% -0.23% 100.0%
Selling, General & Admin $1.021M $125.8K $21.38K
YoY Change 78.61% 488.31%
% of Gross Profit 5405.03% 188.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.950K $6.340K $1.330K
YoY Change -4.84% 376.69%
% of Gross Profit 15.62% 11.74%
Operating Expenses $1.033M $187.6K $51.39K
YoY Change 80.72% 265.01%
Operating Profit -$1.014M -$189.1K -$40.30K
YoY Change 369.32% 32137.6%
Interest Expense -$370.00 -$100.00 $125.00
YoY Change 184.62% -180.0% 0.0%
% of Operating Profit
Other Income/Expense, Net -$7.990K -$170.00 -$110.00
YoY Change -10087.5% 54.55%
Pretax Income -$1.023M -$189.1K -$40.30K
YoY Change 85.97% 369.28%
Income Tax
% Of Pretax Income
Net Earnings -$1.026M -$189.1K -$40.30K
YoY Change 86.68% 369.32% 32137.6%
Net Earnings / Revenue -4867.05% -34.46% -355.73%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share -$0.01 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 79.83M shares 79.83M shares 65.76M shares
Diluted Shares Outstanding 79.83M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.45K $5.640K $272.1K
YoY Change -72.92% -97.93%
Cash & Equivalents $18.45K $5.638K $272.1K
Short-Term Investments
Other Short-Term Assets $526.2K $13.70K $83.07K
YoY Change 800.87% -83.51%
Inventory $40.37K $39.30K
Prepaid Expenses $45.63K $13.70K $83.07K
Receivables $378.2K
Other Receivables $0.00
Total Short-Term Assets $585.0K $436.8K $355.2K
YoY Change 362.34% 22.98%
LONG-TERM ASSETS
Property, Plant & Equipment $254.6K $250.4K $269.0K
YoY Change -7.21% -6.92%
Goodwill $1.132K $1.132K $993.00
YoY Change 0.0% 14.0%
Intangibles $2.994K $2.911K
YoY Change -17.41%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $258.7K $254.5K $270.0K
YoY Change -7.32% -5.76%
TOTAL ASSETS
Total Short-Term Assets $585.0K $436.8K $355.2K
Total Long-Term Assets $258.7K $254.5K $270.0K
Total Assets $843.7K $691.3K $625.2K
YoY Change 107.99% 10.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.5K $483.1K
YoY Change 273.78%
Accrued Expenses $1.680K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $283.0K $230.2K $289.9K
YoY Change 175.49% -20.62%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $920.2K $713.3K $291.6K
YoY Change 583.09% 144.6%
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 $920.2K $713.3K $291.6K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $920.2K $713.3K $291.6K
YoY Change 583.09% 144.6%
SHAREHOLDERS EQUITY
Retained Earnings -$20.05M -$19.96M -$18.48M
YoY Change 5.39% 8.02%
Common Stock $7.878K $7.983K $6.929K
YoY Change 6.3% 15.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$76.44K -$22.04K $333.6K
YoY Change
Total Liabilities & Shareholders Equity $843.7K $691.3K $625.2K
YoY Change 107.99% 10.57%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.026M -$189.1K -$40.30K
YoY Change 86.68% 369.32% 32137.6%
Depreciation, Depletion And Amortization $2.950K $6.340K $1.330K
YoY Change -4.84% 376.69%
Cash From Operating Activities -$74.59K -$96.35K -$276.1K
YoY Change 12.93% -65.11%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $7.750K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $10.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00 -$7.750K
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 88.19K 85.59K 577.2K
YoY Change -158.59% -85.17%
NET CHANGE
Cash From Operating Activities -74.59K -96.35K -276.1K
Cash From Investing Activities 0.000 0.000 -7.750K
Cash From Financing Activities 88.19K 85.59K 577.2K
Net Change In Cash 13.60K -10.76K 293.3K
YoY Change -106.19% -103.67%
FREE CASH FLOW
Cash From Operating Activities -$74.59K -$96.35K -$276.1K
Capital Expenditures $0.00 $0.00 $7.750K
Free Cash Flow -$74.59K -$96.35K -$283.9K
YoY Change 13.31% -66.06%

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<p id="xdx_84F_eus-gaap--UseOfEstimates_zyLb681smjV1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline">Use of Estimates</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
us-gaap Concentration Risk Credit Risk
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2023Q3 us-gaap Land
Land
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Land
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CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q3 us-gaap Property Plant And Equipment Net
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CY2022Q4 us-gaap Property Plant And Equipment Net
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us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
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StockIssuedDuringPeriodValuePurchaseOfAssets
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CY2023Q3 lwlw Value Added Tax Payable
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CY2023Q3 us-gaap Depreciation Nonproduction
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CY2022Q3 us-gaap Depreciation Nonproduction
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us-gaap Depreciation Nonproduction
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us-gaap Depreciation Nonproduction
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CY2023Q3 us-gaap Loans Payable To Bank Current
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CY2023Q1 us-gaap Notes Reduction
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InterestExpense
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InterestExpense
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CY2023Q3 us-gaap Operating Loss Carryforwards
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CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023Q3 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
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CY2022Q3 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
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us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIncomeTaxExpense
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DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIncomeTaxExpense
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CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Asset Acquisition Price Of Acquisition Expected
AssetAcquisitionPriceOfAcquisitionExpected
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
10000000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2023Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
36000 usd
us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
370000 shares
CY2023Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
39118 usd

Files In Submission

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0001017386-23-000399.txt Edgar Link pending
0001017386-23-000399-xbrl.zip Edgar Link pending
exhibit_31-1.htm Edgar Link pending
exhibit_31-2.htm Edgar Link pending
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