10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001276531-20-000013`
Period End Date	20200630
Filing Date	20200812
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	scgy-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 60 Cash Flow Statement 40 Stockholders Equity 20

Balance Sheet 64 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`	$58.46K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.63K	USD	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
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`	$3.00K	USD	Point-in-time
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	$2.80K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$61.46K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$87.43K	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
Joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	114.92M	shares	Point-in-time
Joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	114.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$1.83K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$1.34K	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`	$13.72K	USD	Point-in-time
Right to use assets, net	`OtherAssetsNoncurrent`	$74.76K	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`	$96.45K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$35.83K	USD	Point-in-time
Total assets	`Assets`	$123.26K	USD	Point-in-time
Total assets	`Assets`	$157.91K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$48.84K	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$13.72K	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`	$901.54K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$676.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.07M	USD	Point-in-time
Lease liability -long term	`LongTermDebtAndCapitalLeaseObligations`	$25.92K	USD	Point-in-time
Lease liability -long term	`LongTermDebtAndCapitalLeaseObligations`	-	USD	Point-in-time
Total Liability	`Liabilities`	$2.37M	USD	Point-in-time
Total Liability	`Liabilities`	$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`	$-9.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.84M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$7.33K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.37K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.95M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$157.91K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$123.26K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	-	USD	2 Qtrs
REVENUE	`Revenues`	-	USD	2 Qtrs
REVENUE	`Revenues`	-	USD	1 Quarter
REVENUE	`Revenues`	-	USD	1 Quarter
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	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$258.52K	USD	2 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$143.97K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$275.14K	USD	2 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$138.12K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$490.00	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$152.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$285.00	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$138.37K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$275.43K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$144.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$259.01K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-144.12K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-259.01K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-138.37K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-275.43K	USD	2 Qtrs
Interest (expense) income	`InterestExpense`	$2.47K	USD	2 Qtrs
Interest (expense) income	`InterestExpense`	$1.23K	USD	1 Quarter
Interest (expense) income	`InterestExpense`	$2.79K	USD	1 Quarter
Interest (expense) income	`InterestExpense`	$5.57K	USD	2 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-141.15K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-264.58K	USD	2 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-145.34K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-277.90K	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-145.34K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-141.15K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-277.90K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-264.58K	USD	2 Qtrs
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$961.00	USD	2 Qtrs
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$1.70K	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-906.00	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-1.12K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-263.62K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-279.02K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-146.25K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-139.45K	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	2 Qtrs
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
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	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-264.58K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-277.90K	USD	2 Qtrs
Depreciation	`Depreciation`	$285.00	USD	2 Qtrs
Depreciation	`Depreciation`	$490.00	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$66.00	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$-73.00	USD	2 Qtrs
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.48K	USD	2 Qtrs
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$200.00	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.57K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$12.38K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-272.50K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-251.99K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.35K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.35K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$218.60K	USD	2 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$224.86K	USD	2 Qtrs
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$224.86K	USD	2 Qtrs
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$218.60K	USD	2 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$961.00	USD	2 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.14K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-56.39K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-26.17K	USD	2 Qtrs
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$58.46K	USD	Point-in-time
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`	$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, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$58.46K	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`	$96.66K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$153.04K	USD	Point-in-time
Interest paid	`InterestPaid`	$2.47K	USD	2 Qtrs
Interest paid	`InterestPaid`	$5.57K	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`	$55.31K	USD	2 Qtrs
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$74.76K	USD	2 Qtrs
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$74.76K	USD	2 Qtrs
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$55.31K	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.21M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-743.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-906.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-215.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$1.70K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-132.55K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-141.15K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-145.34K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.21M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time

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