2024 Q1 Form 10-K Financial Statement

#000101738624000060 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $40.40K $21.09K $21.09K
YoY Change -83.21% -3.39% -48.74%
Cost Of Revenue $29.84K $2.200K $2.199K
YoY Change -85.18%
Gross Profit $10.57K $18.89K $18.89K
YoY Change -73.15% -54.09%
Gross Profit Margin 26.15% 89.57% 89.57%
Selling, General & Admin $92.98K $1.021M $287.8K
YoY Change 10.81% 78.61% 12.57%
% of Gross Profit 879.96% 5405.03% 1523.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.165K $2.950K $12.60K
YoY Change -4.24% -4.84% 184.26%
% of Gross Profit 29.95% 15.62% 66.73%
Operating Expenses $488.6K $1.033M $1.033M
YoY Change -25.63% 80.72% 31.24%
Operating Profit -$485.9K -$1.014M -$1.023M
YoY Change -21.41% 36.99%
Interest Expense $26.00 -$370.00 -$370.00
YoY Change -143.33% 184.62% -174.0%
% of Operating Profit
Other Income/Expense, Net -$7.817K -$7.990K -$7.990K
YoY Change 1495.31% -10087.5% -7363.64%
Pretax Income -$485.9K -$1.023M -$1.023M
YoY Change -21.41% 85.97% 36.99%
Income Tax
% Of Pretax Income
Net Earnings -$479.4K -$1.026M -$1.026M
YoY Change -22.57% 86.68% 37.52%
Net Earnings / Revenue -1186.39% -4867.05% -4867.96%
Basic Earnings Per Share -$0.01 -$0.01
Diluted Earnings Per Share -$0.01 -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 79.68M shares 79.83M shares 79.20M shares
Diluted Shares Outstanding 78.76M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.79K $18.45K
YoY Change 67.26% -72.92%
Cash & Equivalents $34.79K $18.45K
Short-Term Investments
Other Short-Term Assets $17.48K $526.2K
YoY Change -26.77% 800.87%
Inventory $44.23K $40.37K
Prepaid Expenses $45.63K
Receivables
Other Receivables
Total Short-Term Assets $96.50K $585.0K
YoY Change -69.17% 362.34%
LONG-TERM ASSETS
Property, Plant & Equipment $247.9K $254.6K
YoY Change -9.01% -7.21%
Goodwill $1.132K $1.132K
YoY Change 0.0% 0.0%
Intangibles $2.770K $2.994K
YoY Change -19.9% -17.41%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $251.8K $258.7K
YoY Change -9.11% -7.32%
TOTAL ASSETS
Total Short-Term Assets $96.50K $585.0K
Total Long-Term Assets $251.8K $258.7K
Total Assets $348.3K $843.7K
YoY Change -40.98% 107.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $146.4K $119.5K
YoY Change -31.1% 273.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $61.07K $283.0K
YoY Change -72.75% 175.49%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $207.5K $920.2K
YoY Change -52.47% 583.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $207.5K $920.2K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $207.5K $920.2K
YoY Change -52.47% 583.09%
SHAREHOLDERS EQUITY
Retained Earnings -$20.53M -$20.05M
YoY Change 4.51% 5.39%
Common Stock $7.968K $7.878K
YoY Change 0.72% 6.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $140.8K -$76.44K
YoY Change
Total Liabilities & Shareholders Equity $348.3K $843.7K
YoY Change -40.98% 107.99%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$479.4K -$1.026M -$1.026M
YoY Change -22.57% 86.68% 37.52%
Depreciation, Depletion And Amortization $3.165K $2.950K $12.60K
YoY Change -4.24% -4.84% 184.26%
Cash From Operating Activities -$100.8K -$74.59K -$338.6K
YoY Change -39.87% 12.93% -1.05%
INVESTING ACTIVITIES
Capital Expenditures $609.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$609.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $109.2K
YoY Change -67.38%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $113.9K 88.19K $293.6K
YoY Change -4.97% -158.59% -31.18%
NET CHANGE
Cash From Operating Activities -$100.8K -74.59K -$338.6K
Cash From Investing Activities -$609.00 0.000
Cash From Financing Activities $113.9K 88.19K $293.6K
Net Change In Cash $12.47K 13.60K -$49.67K
YoY Change -126.35% -106.19% -172.91%
FREE CASH FLOW
Cash From Operating Activities -$100.8K -$74.59K -$338.6K
Capital Expenditures $609.00 $0.00 $0.00
Free Cash Flow -$101.4K -$74.59K -$338.6K
YoY Change -39.5% 13.31% -3.18%

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<p id="xdx_84F_eus-gaap--UseOfEstimates_zu9g0oByAAr7" 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: 10pt 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. Signiant estimates are used in the useful lives and impairment of property and equipment, the valuation of deferred tax assets, share-based compensation, accounting estimates used in the business combination, among others. </p> <p style="font: 10pt 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"> </p>
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Land
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
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CY2022 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Income Tax Expense
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CY2023Q4 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Common Stock Shares Outstanding
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265178 usd
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CY2022 us-gaap Employee Benefits And Share Based Compensation
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5000000 shares
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StockIssuedDuringPeriodValueStockOptionsExercised
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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CY2023Q4 us-gaap Deferred Compensation Liability Current
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CY2023 lwlw Disposal Group Including Discontinued Operation Product Revenue
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CY2023 us-gaap Disposal Group Including Discontinued Operation Revenue
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CY2023 lwlw Disposal Group Including Discontinued Operation Costs Of Goods Sold Production
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CY2023 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
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CY2023 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
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CY2023 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
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CY2023 lwlw Disposal Group Including Discontinued Operation Other Expense Total
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1271 usd
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2023 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
3906 usd
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CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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83847 usd
CY2024Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
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279490 shares
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0.30

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