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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Leafbuyer Technologies Inc (QB) | USOTC:LBUY | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.003 | -11.11% | 0.024 | 0.024 | 0.027 | 0.027 | 0.024 | 0.02445 | 22,051 | 20:13:17 |
Nevada
|
38-3944821
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☐
|
Non-accelerated filer
|
☐
|
Smaller reporting company
|
☒
|
Emerging growth company
|
☐
|
Item 1.
|
Interim Consolidated Financial Statements
|
Item1.
|
Financial Statements
|
September 30, 2017
(Unaudited)
|
June 30, 2017
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
285,768
|
$
|
164,680
|
||||
Prepaid expenses and other current assets
|
30,115
|
30,867
|
||||||
Total current assets
|
315,883
|
195,547
|
||||||
Noncurrent assets:
|
||||||||
Fixed assets, net
|
1,393
|
1,500
|
||||||
Total assets
|
$
|
317,276
|
$
|
197,047
|
||||
LIABILITIES AND EQUITY
|
||||||||
Current liabilities:
|
||||||||
Accrued liabilities
|
$
|
69,892
|
$
|
45,049
|
||||
Deferred revenue
|
60,733
|
55,533
|
||||||
Debt, current
|
200,000
|
--
|
||||||
Total current liabilities
|
330,625
|
100,582
|
||||||
Total liabilities
|
330,625
|
100,582
|
||||||
Commitments and contingencies (Note 6)
|
--
|
--
|
||||||
Equity:
|
||||||||
Preferred stock, $.001 par value; 10,000,000 shares authorized; 6,750,000 shares issued and outstanding for class A convertible preferred stock and 250,000 shares issued and outstanding for class B convertible preferred stock at September 30 and June 30, 2017
|
7,000
|
7,000
|
||||||
Common stock, $.001 par value; 150,000,000 shares authorized; 38,380,663 shares issued and outstanding at September 30 and 38,000,663 shares issued and outstanding at June 30, 2017
|
38,380
|
38,000
|
||||||
Additional paid-in capital
|
1,129,620
|
1,010,000
|
||||||
Accumulated deficit
|
(1,188,349
|
)
|
(958,535
|
)
|
||||
Total equity (deficit)
|
(13,349
|
)
|
96,465
|
|||||
Total liabilities and equity (deficit)
|
$
|
317,276
|
$
|
197,047
|
Three months ended September 30,
|
||||||||
2017
|
2016
|
|||||||
Sales revenue
|
$
|
231,515
|
$
|
227,269
|
||||
Operating expenses:
|
||||||||
Selling expenses
|
34,765
|
--
|
||||||
General and administrative
|
431,535
|
169,320
|
||||||
Total operating expenses
|
466,300
|
169,320
|
||||||
Income (loss) from operations
|
(234,785
|
)
|
57,949
|
|||||
Other income (expense):
|
||||||||
Interest expense
|
(29
|
)
|
--
|
|||||
Other income
|
5,000
|
1,438
|
||||||
Other income (expense), net
|
4,971
|
1,438
|
||||||
Net (loss) income
|
$
|
(229,814
|
)
|
$
|
59,387
|
|||
Net (loss) income per common share:
|
||||||||
Basic and diluted
|
$
|
(0.01
|
)
|
$
|
0.00
|
|||
Weighted average common shares outstanding:
|
||||||||
Basic and diluted
|
38,244,359
|
26,160,000
|
Three months ended September 30,
|
||||||||
2017
|
2016
|
|||||||
Operating Activities:
|
||||||||
Net (loss) income
|
$
|
(229,814
|
)
|
$
|
59,387
|
|||
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
|
||||||||
Depreciation
|
107
|
--
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Prepaid expenses and other
|
752
|
5,591
|
||||||
Accounts payable and accrued liabilities
|
30,043
|
(38,854
|
)
|
|||||
Net cash (used in) provided by operating activities
|
(198,912
|
)
|
26,124
|
|||||
Financing Activities:
|
||||||||
Proceeds from issuance of debt
|
200,000
|
--
|
||||||
Proceeds from issuance of stock
|
120,000
|
--
|
||||||
Distributions
|
--
|
(5,000
|
)
|
|||||
Net cash provided by (used in) financing activities
|
320,000
|
(5,000
|
)
|
|||||
Net change in cash and cash equivalents
|
121,088
|
21,124
|
||||||
Cash and cash equivalents, beginning of period
|
164,680
|
52,360
|
||||||
Cash and cash equivalents, end of period
|
$
|
285,768
|
$
|
73,484
|
Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
Three months ended September 30,
|
||||||||||||||||
2017
|
2016
|
Change
|
%
|
|||||||||||||
Sales revenue
|
$
|
231,515
|
$
|
227.269
|
$
|
4,246
|
2
|
%
|
||||||||
Total operating expenses
|
466,300
|
169,320
|
296,980
|
175
|
%
|
|||||||||||
Interest expense
|
(29
|
)
|
--
|
(29
|
)
|
--
|
%
|
|||||||||
Other
|
5,000
|
1,438
|
3,562
|
248
|
%
|
|||||||||||
Net (loss) income
|
$
|
(229,814
|
)
|
$
|
59,387
|
$
|
(289,201
|
)
|
(487
|
)%
|
Three months ended September 30,
|
||||||||||||||||
2017
|
2016
|
Change
|
%
|
|||||||||||||
Selling expenses
|
$
|
34,765
|
$
|
--
|
$
|
34,765
|
--
|
%
|
||||||||
General and administrative
|
431,535
|
169,320
|
262,215
|
155
|
%
|
|||||||||||
$
|
466,300
|
$
|
169,320
|
$
|
296,980
|
175
|
%
|
Three months ended September 30,
|
||||||||
2017
|
2016
|
|||||||
Net cash (used in) provided by operating activities
|
$
|
(198,912
|
)
|
$
|
26,124
|
|||
Net cash (used in) provided by financing activities
|
320,000
|
(5,000
|
)
|
Item 3. |
Quantitative and Qualitative Disclosures About Market Risk
|
Item 4. |
Controls and Procedures
|
Item 1. |
Legal Proceedings
|
Item 2. |
Unregistered Sales of Equity Securities
|
Item 3.
|
Defaults Upon Senior Securities
|
Item 4. |
Mine Safety Disclosures
|
Item 5. |
Other Information
|
Item 6. |
Exhibits
|
Exhibit
Number
|
Exhibit
Description
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
|
||
Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
|
||
Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 **
|
||
Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 8**
|
Date: November 14, 2017
|
LEAFBUYER TECHNOLOGIES, INC.
|
|
By:
|
/s/ Kurt Rossner
|
|
Kurt Rossner
|
||
Chief Executive Officer, Director (principal executive officer)
|
||
By:
|
/s/ Mark Breen
|
|
Mark Breen
|
||
Chief Financial Officer and Director
|
1 Year Leafbuyer Technologies (QB) Chart |
1 Month Leafbuyer Technologies (QB) Chart |
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