We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Free Flow Inc (PK) | USOTC:FFLO | 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% | 0.20 | 0.203 | 0.888 | 0.00 | 21:00:28 |
Delaware
|
45-3838831
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
6269 Caledon Road, King George, VA
|
22485 |
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
|
Trading Symbol(s)
|
|
Name of exchange on which registered
|
|
|
|||
Common
|
|
FFLO
|
|
OTC
|
Large accelerated filer ☐
|
|
Accelerated filer ☐
|
Non-Accelerated filer ☒
|
Smaller reporting company ☒
|
Emerging growth company ☐
|
Page
|
|
PART I - FINANCIAL INFORMATION
|
|
Item 1. Financial Statements (Unaudited)
|
3 |
Item 2. Management's Discussion and Analysis or Plan of Operations
|
9
|
Item 3. Quantitative and Qualitative Disclosures About Market Risks
|
10
|
Item 4. Controls and Procedures
|
11
|
PART II - OTHER INFORMATION
|
|
Item 1. Legal Proceedings
|
11 |
Item 1A. Risk Factor
|
11 |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
|
11 |
Item 3. Defaults Upon Senior Securities
|
11 |
Item 4. Mine Safety Disclosures
|
11 |
Item 5. Other Information
|
12 |
Item 6. Exhibits
|
12
|
As of
|
As of
|
|||||||
September 30,
|
December 31,
|
|||||||
2019
|
2018
|
|||||||
|
(Un-audited)
|
(Audited)
|
||||||
ASSETS
|
||||||||
Current Assets
|
||||||||
Cash
|
$
|
11,733
|
$
|
19,115
|
||||
Trade Receivables - current
|
43,072
|
7,723
|
||||||
Trade Receivables - old
|
-
|
573
|
||||||
Advances for Business Development
|
15,423
|
-
|
||||||
Prepaid Expenses
|
15,923
|
-
|
||||||
Advances for Inventory Purchases
|
-
|
18,963
|
||||||
Intercompany
|
5,483
|
-
|
||||||
Inventory
|
775,724
|
571,260
|
||||||
TOTAL CURRENT ASSETS
|
867,359
|
617,634
|
||||||
Fixed Assets
|
||||||||
Land and Building, at cost
|
776,704
|
772,513
|
||||||
Less: Accumulated depreciaton
|
(30,901
|
)
|
(30,901
|
)
|
||||
Writtendown value
|
745,803
|
741,612
|
||||||
TOTAL FIXED ASSETS
|
745,803
|
741,612
|
||||||
Other Assets
|
||||||||
Delivery Turcks at cost
|
3,500
|
3,500
|
||||||
Less: Accumulated depreciaton
|
(2,492
|
)
|
(2,492
|
)
|
||||
Writtendown value
|
1,008
|
1,008
|
||||||
Equipment and Delivery Trucks, after depreciation allowance
|
35,100
|
35,000
|
||||||
Less: Accumulated depreciaton
|
(7,000
|
)
|
(7,000
|
)
|
||||
Writtendown value
|
28,100
|
28,000
|
||||||
TOTAL OTHER ASSETS
|
29,108
|
29,008
|
||||||
TOTAL ASSETS
|
$
|
1,642,270
|
$
|
1,388,254
|
||||
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
|
||||||||
Current Liabilities
|
||||||||
Accounts Payable
|
$
|
27,865
|
$
|
7,468
|
||||
Notes Payable - Related Parties
|
10,118
|
380
|
||||||
TOTAL CURRENT LIABILITIES
|
37,983
|
7,848
|
||||||
Long Term Liabilities
|
||||||||
Equity Line of Credit
|
275,000
|
|||||||
Loan - secured
|
892,733
|
900,100
|
||||||
TOTAL LONG TERM LIABILITIES
|
1,167,733
|
900,100
|
||||||
Total Liabilities
|
1,205,716
|
907,948
|
||||||
Redeemable Preferred Stock
|
||||||||
Series B; 500,000 shares authorized; 330,000 and 0 issued and outstanding
|
||||||||
as of December 31, 2018 and 2017 respectively ( Classified as Mezzanine Equity)
|
330,000
|
330,000
|
||||||
Series C; 500,000 shares authorized; 470,935 and 0 issued and outstanding
|
||||||||
as of December 31, 2018 and 2017 respectively ( Classified as Mezzanine Equity) -
|
||||||||
As equity in Accurate Auto Parts, Inc.
|
470,935
|
470,935
|
||||||
Subscription - pending agreement
|
2,000
|
-
|
||||||
Stockholders' Equity (Deficit)
|
||||||||
Preferred Stock ($0.0001) par value, 20,000,000 shares authorized
|
||||||||
10,000 shares par value $0.0001 Class A issued on December 31, 2015
|
1
|
1
|
||||||
Common stock, ($0.0001) par value, 100,000,000 shares authorized
|
||||||||
26,200,000 shares issued and outstanding as of September 30, 2019 and December 31, 2018
|
2,622
|
2,620
|
||||||
Additional Paid in capital
|
129,033
|
114,546
|
||||||
Current Perod P & L Account
|
(60,041
|
)
|
-
|
|||||
Accumulated Deficit
|
(437,996
|
)
|
(437,796
|
)
|
||||
TOTAL STOCKHOLDERS' DEFICIT
|
(366,381
|
)
|
(320,629
|
)
|
||||
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
|
$
|
1,642,270
|
$
|
1,388,254
|
Nine months ended September 30
|
Three months ended September 30
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
REVENUES
|
||||||||||||||||
Sales
|
$
|
255,310
|
$
|
117,648
|
$
|
107,741
|
$
|
38,048
|
||||||||
COST OF GOODS SOLD
|
72,311
|
75,492
|
3,028
|
48,215
|
||||||||||||
GROSS PROFIT
|
182,998
|
42,156.08
|
104,712.50
|
(10,167
|
)
|
|||||||||||
General & Administrative Expenses
|
255,936
|
93,085
|
72,128
|
62,462
|
||||||||||||
Total Expenses
|
255,936
|
93,085
|
72,128.36
|
62,462.00
|
||||||||||||
Profit (Loss) before provision of income taxes
|
(72,938
|
)
|
(50,929
|
)
|
32,584
|
(72,630
|
)
|
|||||||||
Other Income: Inventory recovered upon shredding process
|
12,897
|
42,318
|
-
|
|||||||||||||
Income tax provision
|
-
|
-
|
||||||||||||||
NET PROFIT (LOSS)
|
$
|
(60,041
|
)
|
$
|
(8,611
|
)
|
$
|
32,584
|
$
|
(72,630
|
)
|
|||||
BASIS INCOME (LOSS) PER SHARE
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
0.00
|
$
|
(0.00
|
)
|
||||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
|
26,221,000
|
26,200,000
|
26,221,000
|
26,200,000
|
Common
|
Preferred
|
Additional
|
||||||||||||||||||||||||||
Stock
|
Stock
|
Paid-In
|
Accumulated
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Total
|
||||||||||||||||||||||
Series - A
|
||||||||||||||||||||||||||||
Balance, January 1, 2019
|
26,200,000
|
$
|
2,620
|
10,000
|
$
|
1
|
$
|
114,545
|
$
|
(437,796
|
)
|
$
|
(437,796
|
)
|
||||||||||||||
Loss for the nine months ended
September 30, 2019
|
21,000
|
2
|
14,448
|
(60,141
|
)
|
(60,141
|
)
|
|||||||||||||||||||||
BALANCE, JUNE 30, 2019
|
26,221,000
|
$
|
2,622
|
10,000
|
$
|
1
|
$
|
128,993
|
$
|
(497,937
|
)
|
$
|
(497,937
|
)
|
Nine months ended September 30,
|
||||||||
2019
|
2018
|
|||||||
CASH FLOW FROM OPERATING ACTIVITIES
|
||||||||
Net Profit (Loss)
|
$
|
(60,041
|
)
|
$
|
(8,611
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Changes in operating assets and liabilities
|
||||||||
(Increase) decrease in inventory
|
(204,464
|
)
|
(252,031
|
)
|
||||
(Increase) decrease Prepaid expenses
|
(12,383
|
)
|
(45,639
|
)
|
||||
Increase (decrease) Accounts payable
|
30,135
|
(13,692
|
)
|
|||||
(Increase) in Fixed Assets - Delivery Trucks
|
-
|
(35,000
|
)
|
|||||
(Increase) in Accounts Receivable Trade
|
(40,259
|
)
|
(5,863
|
)
|
||||
Advance against Sales related parties
|
-
|
400
|
||||||
Decrease in Accumulated Deficit
|
-
|
150
|
||||||
NET CASH USED IN OPERATING ACTIVITIES
|
(287,012
|
)
|
(360,286
|
)
|
||||
CASH FLOW FROM FINANCING ACTIVITIES
|
||||||||
Increase in Loan from Bank - Line of Credit
|
275,000
|
-
|
||||||
(Decrease) in Loan from Bank - Principal
|
(7,367
|
)
|
-
|
|||||
(Increase) in Fixed Assets
|
(4,291
|
)
|
-
|
|||||
Proceeds from sales of shares
|
16,288
|
-
|
||||||
Proceeds from relied party notes
|
-
|
358,793
|
||||||
NET CASH PROVIDED BY FINANCING ACIVITIES
|
279,630
|
358,793
|
||||||
NET INCREASE IN CASH
|
(7,382
|
)
|
(1,493
|
)
|
||||
CASH AT BEGINNING OF PERIOD
|
19,115
|
5,354
|
||||||
CASH AT END OF PERIOD
|
$
|
11,733
|
$
|
3,861
|
a)
|
Each share to carry one vote.
|
b)
|
Each share will be redeemable with a 365 days written notice to the company.
|
c)
|
Each share will be junior to any debt incurred by the Company.
|
d)
|
The redemption value will be the par value at which such “preferred shares – series B” are bought by the subscriber.
|
e)
|
Each share will carry a dividend right at par with the common shares.
|
Free Flow Inc.
|
||
Registrant
|
||
Dated November 14, 2019
|
By: /s/ Sabir Saleem
|
|
Sabir Saleem, Chief Executive Officer,
|
||
Chief Financial and Accounting Officer
|
1 Year Free Flow (PK) Chart |
1 Month Free Flow (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