Cleartronic, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cleartronic, Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Cleartronic, Inc. (CLRI) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Cleartronic, Inc. filed a 10-Q report for the quarter ending March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on September 30. Cleartronic, Inc. is classified under Standard Industrial Classification 4812 (Radio Telephone Communications). The company was formerly known as GlobalTel IP, Inc., with a name change on May 11, 2006.

Why It Matters

For investors and stakeholders tracking Cleartronic, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status during the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing Cleartronic's current financial health and future prospects in the radio telephone communications sector.

Risk Assessment

Risk Level: low — Cleartronic, Inc. shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Cleartronic's performance and outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Quarterly Report)
• 2024-05-06 — Filing Date (10-Q Filing)
• 4812 — Standard Industrial Classification (Radio Telephone Communications)
• 0930 — Fiscal Year End (Annual Fiscal Year)

Key Players & Entities

• Cleartronic, Inc. (company) — Filer and subject of the report.
• GlobalTel IP, Inc. (company) — Former name of Cleartronic, Inc.
• 2024-03-31 (date) — End of the reporting period.
• 2024-05-06 (date) — Filing date of the report.
• Clearwater, FL (location) — Location of the company's business and mailing address.

FAQ

Industry Context

Cleartronic, Inc. operates within the Radio Telephone Communications industry, a sector focused on wireless voice and data transmission services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability trends.
2. Review any management discussion and analysis (MD&A) for insights into business operations and outlook.
3. Check for any new risk factors or updates to existing ones.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the quarter ending March 31, 2024, providing an update since the previous filings.

Key Financial Figures

• $0.00001 — ich registered Common stock Par Value $0.00001 CLRI NONE APPLICABLE ONLY TO CORP
• $173,397 — ble assets with a cost of approximately $173,397, with finite lives. The Company amortiz

Filing Documents

• clri31032310q.htm (10-Q) — 643KB
• ex311.htm (EX-31.1) — 4KB
• ex312.htm (EX-31.2) — 4KB
• ex321.htm (EX-32.1) — 2KB
• ex322.htm (EX-32.2) — 2KB
• 0001091818-24-000052.txt (&nbsp;) — 3553KB
• clri-20240331.xsd (EX-101.SCH) — 25KB
• clri-20240331_cal.xml (EX-101.CAL) — 40KB
• clri-20240331_def.xml (EX-101.DEF) — 89KB
• clri-20240331_lab.xml (EX-101.LAB) — 208KB
• clri-20240331_pre.xml (EX-101.PRE) — 169KB
• clri31032310q_htm.xml (XML) — 566KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CLEARTRONIC, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 September 30, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 673,589 $ 516,955 Accounts receivable, net of an allowance for credit losses of $ 78,665 as of March 31, 2024 and $ 63,665 as of September 30, 2023 611,549 545,573 Inventory 31,173 21,913 Prepaid expenses and other current assets 95,689 68,522 Interest receivable - related party 4,139 2,724 Total current assets 1,416,139 1,155,687 Property and Equipment, net 18,276 16,526 Intangible Assets, net 173,397 44,373 Operating lease - right-of-use asset 17,949 29,914 Other assets: Due from related party 53,302 53,302 Total other assets 53,302 53,302 Total assets $ 1,679,063 $ 1,299,802 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 38,428 $ 85,858 Deferred revenue, current portion 1,525,176 1,105,580 Operating lease liability 19,138 24,580 Total current liabilities 1,582,742 1,216,018 Long term liabilities: Deferred revenue, net of current portion 52,150 72,100 Operating lease liability - long term - 6,507 Total long term liabilities 52,150 78,607 Total liabilities 1,634,892 1,294,625 Commitments and Contingencies (See Note 6) Stockholders' equity: Series A preferred stock - $ .00001 par value; 1,250,000 shares authorized, 512,996 issued and outstanding, respectively. 5 5 Series B preferred stock - $ .00001 par value; 10 shares authorized, 0 shares issued and outstanding, respectively. - - Series C preferred stock - $ .00001 par value; 50,000,000 shares authorized, 3,133,503 and 3,133,503 shares issued and outstanding, respectively. 32 32 Series D preferred stock - $ .00001 par value; 10,000,000 shares authorized, 670,904 shares issued and outstanding, respectively. 7 7 Series E preferred stock - $ .00001 pa

View Full Filing

View this 10-Q filing on SEC EDGAR