10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001276531-20-000015`
Period End Date	20200930
Filing Date	20201116
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	scgy-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 40 Stockholders Equity 28

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`	$17.97K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.02K	USD	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
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$153.04K	USD	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
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	$600.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.57K	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, 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
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`	$1.10K	USD	Point-in-time
Right to use assets, net	`OtherAssetsNoncurrent`	$62.91K	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
Deposits	`PrepaidExpenseNoncurrent`	$20.35K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$20.28K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$84.36K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$35.83K	USD	Point-in-time
Total assets	`Assets`	$102.93K	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`	$1.17M	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$13.72K	USD	Point-in-time
Lease liability	`OtherLiabilitiesCurrent`	$49.82K	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`	$676.68K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$978.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.43M	USD	Point-in-time
Lease liability-long term	`LongTermDebtAndCapitalLeaseObligations`	-	USD	Point-in-time
Lease liability-long term	`LongTermDebtAndCapitalLeaseObligations`	$13.09K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.44M	USD	Point-in-time
Total liabilities	`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`	$-8.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.23M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.37K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$7.74K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.34M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.95M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$102.93K	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	3 Qtrs
REVENUE	`Revenues`	-	USD	3 Qtrs
REVENUE	`Revenues`	-	USD	1 Quarter
REVENUE	`Revenues`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	3 Qtrs
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	3 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$378.57K	USD	3 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$407.69K	USD	3 Qtrs
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$132.56K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$120.05K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$736.00	USD	3 Qtrs
Depreciation	`DepreciationNonproduction`	$530.00	USD	3 Qtrs
Depreciation	`DepreciationNonproduction`	$246.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$408.23K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$132.80K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$379.31K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$120.29K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-132.80K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-120.29K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-408.23K	USD	3 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-379.31K	USD	3 Qtrs
Interest (expense) income	`InterestExpense`	$8.36K	USD	3 Qtrs
Interest (expense) income	`InterestExpense`	$5.09K	USD	3 Qtrs
Interest (expense) income	`InterestExpense`	$2.79K	USD	1 Quarter
Interest (expense) income	`InterestExpense`	$2.61K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-123.08K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-135.41K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-387.66K	USD	3 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-413.31K	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-123.08K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-413.31K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-135.41K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-387.66K	USD	3 Qtrs
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$408.00	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-1.58K	USD	3 Qtrs
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-457.00	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$1.37K	USD	3 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-122.67K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-135.87K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-386.29K	USD	3 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-414.89K	USD	3 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	3 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	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	3 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	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	3 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-387.66K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-413.31K	USD	3 Qtrs
Depreciation	`Depreciation`	$736.00	USD	3 Qtrs
Depreciation	`Depreciation`	$530.00	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$66.00	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$-74.00	USD	3 Qtrs
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.20K	USD	3 Qtrs
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.28K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.72K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.99K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-405.71K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-369.80K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.35K	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$123.00K	USD	3 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$218.60K	USD	3 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$301.78K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$341.60K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$301.78K	USD	3 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.37K	USD	3 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.55K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-66.66K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-67.02K	USD	3 Qtrs
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$17.97K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$86.02K	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`	$153.04K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$17.97K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$86.02K	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`	$153.04K	USD	Point-in-time
Interest paid	`InterestPaid`	$8.36K	USD	3 Qtrs
Interest paid	`InterestPaid`	$5.14K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$75.31K	USD	3 Qtrs
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$62.91K	USD	3 Qtrs
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$75.31K	USD	3 Qtrs
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$62.91K	USD	3 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.83M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.34M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.21M	USD	Point-in-time
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-906.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$1.70K	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-743.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-457.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$408.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-215.00	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
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-123.08K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-135.41K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.83M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.42M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.34M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.21M	USD	Point-in-time

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