10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001276531-21-000009`
Period End Date	20210630
Filing Date	20210823
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	scgy-20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 42 Stockholders Equity 20

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`	$86.60K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.47K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.63K	USD	Point-in-time
Inventories	`InventoryNet`	$260.84K	USD	Point-in-time
Inventories	`InventoryNet`	-	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
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other receivables and deposit paid	`OtherReceivablesGrossCurrent`	-	USD	Point-in-time
Other receivables and deposit paid	`OtherReceivablesGrossCurrent`	$4.19M	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, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.54M	USD	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`	$854.00	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$364.00	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	114.92M	shares	Point-in-time
Operating lease right to use assets	`OtherAssetsNoncurrent`	$25.90K	USD	Point-in-time
Operating lease right to use assets	`OtherAssetsNoncurrent`	$50.79K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$14.74K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$14.72K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$40.98K	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`	$4.58M	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
Operating lease liability	`OtherLiabilitiesCurrent`	$25.90K	USD	Point-in-time
Operating lease liability	`OtherLiabilitiesCurrent`	$50.79K	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`	$5.67M	USD	Point-in-time
Stock subscription payables	`ShortTermNonBankLoansAndNotesPayable`	$1.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.10M	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`	$-9.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.10K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.52M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$4.58M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$80.85K	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	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
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`	$71.08K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$138.12K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$106.21K	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$490.00	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$490.00	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$245.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$138.37K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$106.70K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$71.32K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$259.01K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-71.32K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-259.01K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-106.70K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-138.37K	USD	1 Quarter
Interest (expense) income	`InterestExpense`	$5.85K	USD	2 Qtrs
Interest (expense) income	`InterestExpense`	$2.79K	USD	1 Quarter
Interest (expense) income	`InterestExpense`	$5.57K	USD	2 Qtrs
Interest (expense) income	`InterestExpense`	$2.92K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-264.58K	USD	2 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-74.25K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-112.54K	USD	2 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-141.15K	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`	$-112.54K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-264.58K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-141.15K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-74.25K	USD	1 Quarter
Foreign translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$902.00	USD	2 Qtrs
Foreign translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$961.00	USD	2 Qtrs
Foreign translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$463.00	USD	1 Quarter
Foreign translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$1.70K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-111.64K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-263.62K	USD	2 Qtrs
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-73.78K	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	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	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	114.92M	shares	2 Qtrs

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-112.54K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-264.58K	USD	2 Qtrs
Depreciation	`Depreciation`	$490.00	USD	2 Qtrs
Depreciation	`Depreciation`	$490.00	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$-73.00	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$24.00	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$260.84K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Other receivables and deposit paid	`IncreaseDecreaseInAccountsAndOtherReceivables`	$200.00	USD	2 Qtrs
Other receivables and deposit paid	`IncreaseDecreaseInAccountsAndOtherReceivables`	$4.19M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.74K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$12.38K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.56M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-251.99K	USD	2 Qtrs
Sale proceeds from disposal of subsidiary	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	-	USD	2 Qtrs
Sale proceeds from disposal of subsidiary	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$1.00	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$1.00	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	2 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$224.86K	USD	2 Qtrs
Proceeds from subscription received	`ProceedsFromOtherDebt`	$4.63M	USD	2 Qtrs
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$224.86K	USD	2 Qtrs
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$4.63M	USD	2 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$961.00	USD	2 Qtrs
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$902.00	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-26.17K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$72.14K	USD	2 Qtrs
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$86.60K	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`	$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, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$86.60K	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`	$58.46K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$84.63K	USD	Point-in-time
Interest paid	`InterestPaid`	$5.57K	USD	2 Qtrs
Interest paid	`InterestPaid`	$5.85K	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`	$25.90K	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`	$25.90K	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.52M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.41M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.21M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.45M	USD	Point-in-time
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$439.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$1.70K	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$463.00	USD	1 Quarter
Foreign currency transaction gain (loss)	`StockholdersEquityOther`	$-743.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-123.43K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-38.30K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-141.15K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-74.25K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.95M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.52M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.41M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.07M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.21M	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.