2023 Q2 Form 10-Q Financial Statement

#000147793223006315 Filed on August 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.64K
YoY Change -98.47%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $18.80K $11.64K
YoY Change 61.56% -98.46%
Operating Profit -$18.80K -$11.64K
YoY Change 61.56% -98.46%
Interest Expense $0.00 $6.250K
YoY Change -100.0% 0.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$6.250K
YoY Change -100.0% 0.0%
Pretax Income -$18.80K -$17.89K
YoY Change 5.1% -97.66%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.80K -$17.89K
YoY Change 5.1% -97.66%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share -$105.10
COMMON SHARES
Basic Shares Outstanding 189.1M shares 170.3M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change
Cash & Equivalents $0.00 $0.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $9.440K
Other Receivables $0.00
Total Short-Term Assets $0.00 $9.440K
YoY Change -100.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $0.00 $9.440K
Total Long-Term Assets $0.00 $0.00
Total Assets $0.00 $9.440K
YoY Change -100.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.880K
YoY Change
Accrued Expenses $264.8K
YoY Change 10.42%
Deferred Revenue
YoY Change
Short-Term Debt $250.0K
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $88.44K $518.7K
YoY Change -82.95% 5.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $88.44K $518.7K
Total Long-Term Liabilities $0.00
Total Liabilities $88.44K $518.7K
YoY Change -82.95% 5.9%
SHAREHOLDERS EQUITY
Retained Earnings -$3.657M -$3.562M
YoY Change 2.69% 2.09%
Common Stock $195.5K $195.5K
YoY Change 0.0% 37.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares 375.0K shares
Shareholders Equity -$88.44K -$509.3K
YoY Change
Total Liabilities & Shareholders Equity $0.00 $9.440K
YoY Change -100.0%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$18.80K -$17.89K
YoY Change 5.1% -97.66%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$53.55K
YoY Change 443.65%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.55K
YoY Change 443.65%
NET CHANGE
Cash From Operating Activities -53.55K
Cash From Investing Activities
Cash From Financing Activities 53.55K
Net Change In Cash 0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$53.55K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Management does not believe there would have been a material effect on the accompanying unaudited condensed financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period.</p>
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Pursuant to such agreement, the Company agreed to pay a fee of $1,000 per month for a period of six months beginning on August 1, 2009 and ending January 1, 2010. The Company should have issued 75,000 shares within 7 days of signing the agreement. Any payments over 45 days would be subject to a penalty fee of 10% per week
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