10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001276531-20-000011`
Period End Date	20200331
Filing Date	20200527
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	scgy-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 36 Stockholders Equity 12

Balance Sheet 62 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`	$84.63K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.87K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$153.04K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.61K	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
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	$2.80K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	$3.00K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$75.87K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$87.43K	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
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$1.83K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	114.92M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	114.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$1.59K	USD	Point-in-time
Right to use assets, net	`OtherAssetsNoncurrent`	$13.72K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Right to use assets, net	`OtherAssetsNoncurrent`	$91.90K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$20.35K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$20.28K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$113.84K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$35.83K	USD	Point-in-time
Total assets	`Assets`	$189.70K	USD	Point-in-time
Total assets	`Assets`	$123.26K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$13.72K	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$53.41K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$223.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$223.00K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$785.86K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$676.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.07M	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`	$-8.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.96M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.62K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.37K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.07M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.95M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$189.70K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$123.26K	USD	Point-in-time
Lease liability-long term	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Lease liability-long term	`LiabilitiesNoncurrent`	$38.49K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.07M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	-	USD	1 Quarter
REVENUE	`Revenues`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$131.18K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$120.40K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$133.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$120.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$131.31K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-120.65K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-131.31K	USD	1 Quarter
Interest (expense) income, net	`InterestExpense`	$1.24K	USD	1 Quarter
Interest (expense) income, net	`InterestExpense`	$2.79K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-132.55K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-132.55K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-123.43K	USD	1 Quarter
Foreign translation (loss) gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-743.00	USD	1 Quarter
Foreign translation (loss) gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-215.00	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-132.77K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-124.17K	USD	1 Quarter
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	1 Quarter
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	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-132.55K	USD	1 Quarter
Net loss	`ProfitLoss`	$-123.43K	USD	1 Quarter
Depreciation	`Depreciation`	$133.00	USD	1 Quarter
Depreciation	`Depreciation`	$245.00	USD	1 Quarter
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$200.00	USD	1 Quarter
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.07K	USD	1 Quarter
Deposits	`PaymentsForDeposits`	-	USD	1 Quarter
Deposits	`PaymentsForDeposits`	$71.00	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.27K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.20K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-117.15K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-120.19K	USD	1 Quarter
Proceeds from subscription received	`ProceedsFromOtherDebt`	$33.88K	USD	1 Quarter
Proceeds from subscription received	`ProceedsFromOtherDebt`	$109.17K	USD	1 Quarter
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$109.17K	USD	1 Quarter
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$33.88K	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-167.00	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-743.00	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-83.43K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.76K	USD	1 Quarter
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$84.63K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$72.87K	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`	$69.61K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$84.63K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$72.87K	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`	$69.61K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	$2.79K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$75.31K	USD	1 Quarter
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$91.90K	USD	1 Quarter
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$75.31K	USD	1 Quarter
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$91.90K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Foreign currency transaction loss	`StockholdersEquityOther`	$-743.00	USD	1 Quarter
Foreign currency transaction loss	`StockholdersEquityOther`	$-215.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-132.55K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time

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