10-Q Filing

SCIENTIFIC ENERGY, INC CIK: 1276531 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001376474-22-000267`
Period End Date	20220331
Filing Date	20220518
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	scgy-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 94 Income Statement 34 Cash Flow Statement 68 Stockholders Equity 12

Balance Sheet 94 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.47K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.67M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Loan receivables	`NotesAndLoansReceivableNetCurrent`	$994.82K	USD	Point-in-time
Loan receivables	`NotesAndLoansReceivableNetCurrent`	$997.92K	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
Accounts receivable	`AccountsReceivableNetCurrent`	$753.07K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$842.92K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other receivables	`OtherReceivables`	$66.39K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other receivables	`OtherReceivables`	$53.36K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	263.34M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	263.34M	shares	Point-in-time
Amount due from related companies	`DueFromRelatedParties`	$1.22M	USD	Point-in-time
Amount due from related companies	`DueFromRelatedParties`	$1.38M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	263.34M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	263.34M	shares	Point-in-time
Amount due from joint venture	`DueFromJointVentures`	$24.68K	USD	Point-in-time
Amount due from joint venture	`DueFromJointVentures`	$24.68K	USD	Point-in-time
Amount due from shareholder	`DueFromAffiliateCurrent`	$942.27K	USD	Point-in-time
Amount due from shareholder	`DueFromAffiliateCurrent`	$989.80K	USD	Point-in-time
Inventories	`InventoryNet`	$368.54K	USD	Point-in-time
Inventories	`InventoryNet`	$255.29K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$473.38K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrent`	$369.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.54M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$91.42K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentGross`	$77.01K	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$1.24M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$1.23M	USD	Point-in-time
Goodwill	`Goodwill`	$71.66M	USD	Point-in-time
Goodwill	`Goodwill`	$71.66M	USD	Point-in-time
Operating lease right to use assets	`OtherAssetsNoncurrent`	$614.00K	USD	Point-in-time
Operating lease right to use assets	`OtherAssetsNoncurrent`	$586.92K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$525.97K	USD	Point-in-time
Deposits	`PrepaidExpenseNoncurrent`	$521.82K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$74.08M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$74.13M	USD	Point-in-time
Total assets	`Assets`	$83.88M	USD	Point-in-time
Total assets	`Assets`	$83.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.20M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.47M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.86M	USD	Point-in-time
Amount due to related party	`DueToRelatedPartiesCurrent`	$19.94K	USD	Point-in-time
Amount due to related party	`DueToRelatedPartiesCurrent`	$20.00K	USD	Point-in-time
Deposit received	`DeferredTaxLiabilitiesPrepaidExpenses`	$1.34M	USD	Point-in-time
Deposit received	`DeferredTaxLiabilitiesPrepaidExpenses`	$1.66M	USD	Point-in-time
Other payables	`OtherPayable`	$1.22M	USD	Point-in-time
Other payables	`OtherPayable`	$1.02M	USD	Point-in-time
Bank loans	`BankLoans`	$559.84K	USD	Point-in-time
Bank loans	`BankLoans`	$566.05K	USD	Point-in-time
Operating lease liabilities	`OtherLiabilitiesCurrent`	$391.57K	USD	Point-in-time
Operating lease liabilities	`OtherLiabilitiesCurrent`	$400.01K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.60M	USD	Point-in-time
Bank loans	`LongTermLoansFromBank`	$481.36K	USD	Point-in-time
Bank loans	`LongTermLoansFromBank`	$439.67K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$222.43K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$186.91K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$668.27K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$662.10K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.27M	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`	$2.63M	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$2.63M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$78.46M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$78.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-114.16K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-119.94K	USD	Point-in-time
Total stockholders' surplus	`StockholdersEquity`	$69.69M	USD	Point-in-time
Total stockholders' surplus	`StockholdersEquity`	$70.71M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$-117.21K	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$-104.42K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$83.67M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$83.88M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	$10.13M	USD	1 Quarter
REVENUE	`Revenues`	-	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$7.36M	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$2.77M	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$35.13K	USD	1 Quarter
Selling, general and administrative expenses	`GeneralAndAdministrativeExpense`	$3.73M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$245.00	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$66.96K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$35.38K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.79M	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-35.38K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.02M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-9.35K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-2.92K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-38.30K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.03M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-38.30K	USD	1 Quarter
NET LOSS	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-1.03M	USD	1 Quarter
Net loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-12.80K	USD	1 Quarter
Net loss attributable to Scientific Energy, Inc	`NetIncomeLoss`	$-1.02M	USD	1 Quarter
Net loss attributable to Scientific Energy, Inc	`NetIncomeLoss`	$-38.30K	USD	1 Quarter
Foreign translation (loss) gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-5.78K	USD	1 Quarter
Foreign translation (loss) gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$439.00	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-37.86K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-1.02M	USD	1 Quarter
Net loss per common share, basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Net loss per common share, basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	114.92M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	263.34M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-38.30K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.03M	USD	1 Quarter
Depreciation	`Depreciation`	$11.85K	USD	1 Quarter
Depreciation	`Depreciation`	$245.00	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	-	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$55.11K	USD	1 Quarter
Loss on disposal of property and equipment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	-	USD	1 Quarter
Loss on disposal of property and equipment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-6.00	USD	1 Quarter
Account receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Account receivables	`IncreaseDecreaseInAccountsReceivable`	$-89.84K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$113.25K	USD	1 Quarter
Deposits	`Deposits1`	$-4.15K	USD	1 Quarter
Deposits	`Deposits1`	$-38.00	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$104.01K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$19.00	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-13.03K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$606.97K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Deposits received	`IncreaseDecreaseInDeposits`	$320.97K	USD	1 Quarter
Deposits received	`IncreaseDecreaseInDeposits`	-	USD	1 Quarter
Other payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	1 Quarter
Other payable	`IncreaseDecreaseInOtherAccountsPayable`	$-201.10K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$124.35K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.53K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-223.20K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.57K	USD	1 Quarter
Proceeds from disposal of subsidiary	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	$1.00	USD	1 Quarter
Proceeds from disposal of subsidiary	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	-	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.29K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of intangible asset	`PaymentsToAcquireIntangibleAssets`	$79.24K	USD	1 Quarter
Purchase of intangible asset	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Amount due from related company	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$159.41K	USD	1 Quarter
Amount due from related company	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	-	USD	1 Quarter
Amount due from shareholder	`PaymentsToAcquireProjects`	-	USD	1 Quarter
Amount due from shareholder	`PaymentsToAcquireProjects`	$47.53K	USD	1 Quarter
Amount due to related company	`PaymentsToAcquireOtherInvestments`	-	USD	1 Quarter
Amount due to related company	`PaymentsToAcquireOtherInvestments`	$62.00	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.00	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.28K	USD	1 Quarter
Proceeds from subscription received	`ProceedsFromOtherDebt`	$45.64K	USD	1 Quarter
Proceeds from subscription received	`ProceedsFromOtherDebt`	-	USD	1 Quarter
Repayment of bank borrowings	`RepaymentsOfOtherDebt`	$47.90K	USD	1 Quarter
Repayment of bank borrowings	`RepaymentsOfOtherDebt`	-	USD	1 Quarter
Net cash (used in) / provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-47.90K	USD	1 Quarter
Net cash (used in) / provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.64K	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.96K	USD	1 Quarter
Effect of currency rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$439.00	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.51K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-253.85K	USD	1 Quarter
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.98K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.47K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.98K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.47K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.67M	USD	Point-in-time
Interest paid	`InterestPaid`	$9.35K	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`	$614.00K	USD	1 Quarter
Record right to use assets upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$38.47K	USD	1 Quarter
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$38.47K	USD	1 Quarter
Record lease liabilities upon adoption of ASC 842	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$614.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.45M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$70.61M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.41M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$69.57M	USD	Point-in-time
Foreign currency transaction gain	`StockholdersEquityOther`	$439.00	USD	1 Quarter
Foreign currency transaction gain	`StockholdersEquityOther`	$-5.78K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-38.30K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-1.03M	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.45M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$70.61M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.41M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$69.57M	USD	Point-in-time

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