10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001276531-21-000007`
Period End Date	20210331
Filing Date	20210514
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	scgy-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 40 Stockholders Equity 12

Balance Sheet 60 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`	$20.98K	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`	$14.47K	USD	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
Prepaid expense and other receivables	`PrepaidExpenseCurrent`	-	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`	$19.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.47K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.00K	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`	$609.00	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$854.00	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
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Operating lease right to use assets	`OtherAssetsNoncurrent`	$50.79K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Operating lease right to use assets	`OtherAssetsNoncurrent`	$38.47K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$14.74K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$14.71K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$53.78K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$66.38K	USD	Point-in-time
Total assets	`Assets`	$80.85K	USD	Point-in-time
Total assets	`Assets`	$74.78K	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
Operating lease liability	`OtherLiabilitiesCurrent`	$50.79K	USD	Point-in-time
Operating lease liability	`OtherLiabilitiesCurrent`	$38.47K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$233.94K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$233.94K	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$1.04M	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$1.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.52M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	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`	$-9.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.10K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.54K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.45M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$74.78K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$80.85K	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`	$35.13K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$120.40K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$120.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$35.38K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-35.38K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-120.65K	USD	1 Quarter
Interest (expense) income, net	`InterestExpense`	$2.79K	USD	1 Quarter
Interest (expense) income, net	`InterestExpense`	$2.92K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-38.30K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-123.43K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-38.30K	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$439.00	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-743.00	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-124.17K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-37.86K	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`	-	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 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-123.43K	USD	1 Quarter
Net loss	`ProfitLoss`	$-38.30K	USD	1 Quarter
Depreciation	`Depreciation`	$245.00	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`	$19.00	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	$-71.00	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	$38.00	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.27K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.53K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.57K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-120.19K	USD	1 Quarter
Proceeds from subscription received	`ProceedsFromOtherDebt`	$45.64K	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`	$45.64K	USD	1 Quarter
Sale proceeds from disposal of subsidiary	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	$1.00	USD	1 Quarter
Sale proceeds from disposal of subsidiary	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	-	USD	1 Quarter
Net cash provided by investing activity	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided by investing activity	`NetCashProvidedByUsedInInvestingActivities`	$1.00	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-743.00	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$439.00	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.51K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.76K	USD	1 Quarter
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$20.98K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$14.47K	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`	$72.87K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$20.98K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$14.47K	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
Interest paid	`InterestPaid`	$2.79K	USD	1 Quarter
Interest paid	`InterestPaid`	$2.92K	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`	$38.47K	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`	$91.90K	USD	1 Quarter
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$38.47K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.41M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.45M	USD	Point-in-time
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-743.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$439.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-38.30K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.41M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.45M	USD	Point-in-time

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