10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001276531-19-000012`
Period End Date	20190630
Filing Date	20190812
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	scgy-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 60 Cash Flow Statement 42 Stockholders Equity 20

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.66K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$153.04K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.37K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.20K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	$7.09K	USD	Point-in-time
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	$3.60K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$160.13K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$100.25K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	114.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$2.32K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	114.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$1.26K	USD	Point-in-time
Right to use assets, net	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Right to use assets, net	`OtherAssetsNoncurrent`	$55.31K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$20.26K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$20.23K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$77.87K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$21.53K	USD	Point-in-time
Total assets	`Assets`	$178.12K	USD	Point-in-time
Total assets	`Assets`	$181.66K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$55.31K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$100.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$100.00K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$347.00K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$565.60K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.88M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$1.15M	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$1.15M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.73M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.57M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.28K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.40K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.42M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$181.66K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$178.12K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	-	USD	2 Qtrs
REVENUE	`Revenues`	-	USD	1 Quarter
REVENUE	`Revenues`	-	USD	1 Quarter
REVENUE	`Revenues`	-	USD	2 Qtrs
COST OF REVENUE	`CostOfRevenue`	-	USD	2 Qtrs
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$143.96K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$275.14K	USD	2 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$133.42K	USD	2 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$36.68K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$66.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$66.00	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$152.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$285.00	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$144.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$275.43K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$133.48K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$36.75K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-36.75K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-133.48K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-275.43K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-144.12K	USD	1 Quarter
Interest (expense) income	`InvestmentIncomeInterest`	$-290.00	USD	2 Qtrs
Interest (expense) income	`InvestmentIncomeInterest`	$-290.00	USD	1 Quarter
Interest (expense) income	`InvestmentIncomeInterest`	$-2.47K	USD	2 Qtrs
Interest (expense) income	`InvestmentIncomeInterest`	$-1.23K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-37.04K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-133.77K	USD	2 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-277.90K	USD	2 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-145.34K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-37.04K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-145.34K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-277.90K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-133.77K	USD	2 Qtrs
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-1.12K	USD	2 Qtrs
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-906.00	USD	1 Quarter
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-965.00	USD	2 Qtrs
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-711.00	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-134.74K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-146.25K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-37.75K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-279.02K	USD	2 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	2 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-133.77K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-277.90K	USD	2 Qtrs
Depreciation	`Depreciation`	$66.00	USD	2 Qtrs
Depreciation	`Depreciation`	$285.00	USD	2 Qtrs
Deposits	`PaymentsForDeposits`	$-66.00	USD	2 Qtrs
Deposits	`PaymentsForDeposits`	$5.60K	USD	2 Qtrs
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.48K	USD	2 Qtrs
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.95K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.57K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.80K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-135.56K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-272.50K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-1.35K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-1.59K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.59K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.35K	USD	2 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$128.21K	USD	2 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$218.60K	USD	2 Qtrs
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$163.21K	USD	2 Qtrs
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$218.60K	USD	2 Qtrs
Proceeds from note payable	`ProceedsFromNotesPayable`	$35.00K	USD	2 Qtrs
Proceeds from note payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-880.00	USD	2 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.14K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$25.17K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-56.39K	USD	2 Qtrs
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$96.66K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$153.04K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$79.37K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$54.20K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$96.66K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$153.04K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$79.37K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$54.20K	USD	Point-in-time
Interest paid	`InterestPaid`	$2.50K	USD	2 Qtrs
Interest paid	`InterestPaid`	$290.00	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	2 Qtrs
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$55.31K	USD	2 Qtrs
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$55.31K	USD	2 Qtrs
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	-	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.08M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.17M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.21M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Foreign currency transaction loss	`StockholdersEquityOther`	$-254.00	USD	1 Quarter
Foreign currency transaction loss	`StockholdersEquityOther`	$-215.00	USD	1 Quarter
Foreign currency transaction loss	`StockholdersEquityOther`	$-906.00	USD	1 Quarter
Foreign currency transaction loss	`StockholdersEquityOther`	$-711.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-132.55K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-96.74K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-37.04K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-145.34K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.08M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.17M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.21M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.