We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Concrete Leveling Systems Inc (PK) | USOTC:CLEV | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.7868 | 0.36 | 0.787 | 0.00 | 20:30:00 |
Nevada
|
26-0851977
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ]
|
Smaller reporting company [X]
|
January 31
|
July 31
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
Assets
|
||||||||
Current Assets
|
||||||||
Cash in bank
|
$
|
466
|
$
|
104
|
||||
Accounts receivable, net of allowance for doubtful accounts of $0 at January 31, 2017 and July 31, 2016
|
-
|
217
|
||||||
Current portion of notes receivable, net of allowance for loan losses of and $2,391 at January 31, 2017 and July 31, 2016
|
1,256
|
-
|
||||||
Interest receivable, net of collectability allowance of and $242 at January 31, 2017 and July 31, 2016
|
544
|
26
|
||||||
Inventory
|
23,703
|
23,607
|
||||||
Prepaid expenses and other current assets
|
943
|
485
|
||||||
Total Current Assets
|
26,912
|
24,439
|
||||||
Property, Plant and Equipment
|
||||||||
Equipment
|
700
|
700
|
||||||
Less: Accumulated depreciation
|
(700
|
)
|
(700
|
)
|
||||
Total Property, Plant and Equipment
|
-
|
-
|
||||||
Other Assets
|
||||||||
Notes receivable, net of current portion and allowance for loan losses of $21,860 at January 31, 2017 and July 31, 2016
|
1,107
|
2,695
|
||||||
Total Assets
|
$
|
28,019
|
$
|
27,134
|
||||
Liabilities and Stockholders’ Equity (Deficit)
|
||||||||
Current Liabilities
|
||||||||
Accounts payable
|
$
|
35,923
|
$
|
33,559
|
||||
Accounts payable - stockholders
|
35,486
|
35,486
|
||||||
Advances - stockholders
|
111,800
|
89,400
|
||||||
Notes payable - stockholders
|
62,750
|
62,750
|
||||||
Accrued interest - stockholders
|
15,139
|
15,139
|
||||||
Other accrued expenses
|
17,329
|
15,828
|
||||||
Total Current Liabilities
|
278,427
|
252,162
|
||||||
Stockholders’ Equity (Deficit)
|
||||||||
Common stock (par value $0.001)
|
||||||||
100,000,000 shares authorized:
|
||||||||
6,395,418 shares issued and outstanding at January 31, 2017 and July 31, 2016
|
6,395
|
6,395
|
||||||
Additional paid-in capital
|
405,355
|
405,355
|
||||||
Retained (deficit)
|
(662,158
|
)
|
(636,778
|
)
|
||||
Total Stockholders’ Equity (Deficit)
|
(250,408
|
)
|
(225,028
|
)
|
||||
Total Liabilities and Stockholders’ Equity (Deficit)
|
$
|
28,019
|
$
|
27,134
|
3 Months Ended
|
6 Months Ended
|
|||||||
January 31, 2017
|
January 31, 2017
|
|||||||
(Unaudited)
|
(Unaudited)
|
|||||||
Equipment and parts sales
|
$
|
387
|
$
|
387
|
||||
Cost of Sales
|
110
|
110
|
||||||
Gross Margin
|
277
|
277
|
||||||
Expenses
|
||||||||
Selling, general and administration
|
5,709
|
25,960
|
||||||
(Loss) from Operations
|
(5,432
|
)
|
(25,683
|
)
|
||||
Other Income (Expense)
|
||||||||
Interest income
|
389
|
786
|
||||||
Interest expense
|
(241
|
)
|
(483
|
)
|
||||
Total Other Income (Expense)
|
148
|
303
|
||||||
Net (Loss) Before Income Taxes
|
(5,284
|
)
|
(25,380
|
)
|
||||
Provision for Income Taxes
|
-
|
-
|
||||||
Net (Loss)
|
$
|
(5,284
|
)
|
$
|
(25,380
|
)
|
||
Net (Loss) per Share - Basic and Fully Diluted
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||
Weighted average number of common shares outstanding - basic and fully diluted
|
6,395,418
|
6,395,418
|
3 Months Ended
|
6 Months Ended
|
|||||||
January 31, 2016
|
January 31, 2016
|
|||||||
(Unaudited)
|
(Unaudited)
|
|||||||
Equipment and parts sales
|
$
|
840
|
$
|
840
|
||||
Cost of Sales
|
552
|
552
|
||||||
Gross Margin
|
288
|
288
|
||||||
Expenses
|
||||||||
Selling, general and administration
|
(3,451
|
)
|
14,330
|
|||||
(Loss) from Operations
|
3,739
|
(14,042
|
)
|
|||||
Other Income (Expense)
|
||||||||
Interest income
|
278
|
576
|
||||||
Interest expense
|
(243
|
)
|
(495
|
)
|
||||
Total Other Income (Expense)
|
35
|
81
|
||||||
Net (Loss) Before Income Taxes
|
3,774
|
(13,961
|
)
|
|||||
Provision for Income Taxes
|
-
|
-
|
||||||
Net (Loss)
|
$
|
3,774
|
$
|
(13,961
|
)
|
|||
Net (Loss) per Share - Basic and Fully Diluted
|
$
|
0.00
|
$
|
(0.00
|
)
|
|||
Weighted average number of common shares outstanding - basic and fully diluted
|
6,395,418
|
6,395,418
|
January 31, 2017
|
January 31, 2016
|
|||||||
(Unaudited)
|
(Unaudited)
|
|||||||
Cash Flows from Operating Activities
|
||||||||
Net (loss)
|
$
|
(25,380
|
)
|
$
|
(13,961
|
)
|
||
Adjustments to reconcile net (loss) to net cash used in operating activities:
|
||||||||
(Decrease) in allowances for doubtful accounts and loan losses
|
(518
|
)
|
(8,467
|
)
|
||||
Decrease (Increase) in accounts receivable
|
217
|
(190
|
)
|
|||||
(Increase) Decrease in inventory
|
(96
|
)
|
484
|
|||||
(Increase) in prepaid expenses and other current assets
|
(458
|
)
|
(613
|
)
|
||||
Increase in accounts payable
|
2,364
|
(1,049
|
)
|
|||||
Increase in other accrued expenses
|
1,501
|
621
|
||||||
Net cash from (used by) operating activities
|
(22,370
|
)
|
(23,175
|
)
|
||||
Cash Flows from Investing Activities
|
||||||||
Payments on notes receivable
|
332
|
495
|
||||||
Cash Flows from Financing Activities
|
||||||||
Loans from stockholders
|
22,400
|
23,500
|
||||||
Net increase (decrease) in cash
|
362
|
820
|
||||||
Cash and equivalents - beginning
|
104
|
116
|
||||||
Cash and equivalents - ending
|
$
|
466
|
$
|
936
|
||||
Supplemental Disclosure of Cash Flows Information
|
||||||||
Interest
|
$
|
483
|
$
|
495
|
||||
Income Taxes
|
$
|
-
|
$
|
-
|
NOTE A - BASIS OF PRESENTATION
|
The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10‑Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information, refer to the financial statements and footnotes thereto included in the Concrete Leveling Systems, Inc. Form 10-K filing for the period ended July 31, 2016.
|
NOTE B - GOING CONCERN
|
As shown in the financial statements, the Company incurred a net loss of $5,284 for the three months ended January 31, 2017, and has incurred substantial net losses since its inception. At January 31, 2017, current liabilities exceed current assets by $251,515. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue existence.
|
CONCRETE LEVELING SYSTEMS, INC.
|
||
Date: March 13 , 2017
|
By: /s/ Edward A. Barth
|
|
Edward A. Barth, Principal Executive Officer
|
||
Date: March 13, 2017
|
By: /s/ Suzanne I. Barth
|
|
Suzanne I. Barth, Principal Financial Officer
|
1 Year Concrete Leveling Systems (PK) Chart |
1 Month Concrete Leveling Systems (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions