Cleartronic, Inc. Files Q3 2024 10-Q
Ticker: CLRI · Form: 10-Q · Filed: Aug 13, 2024 · CIK: 1362516
Sentiment: neutral
Topics: 10-Q, quarterly-report, communications
TL;DR
Cleartronic's Q3 2024 10-Q is in. Check financials.
AI Summary
Cleartronic, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as GlobalTel IP, Inc., is based in Clearwater, Florida, and operates in the radio telephone communications sector. The filing covers the third quarter of their fiscal year, which ends on September 30th.
Why It Matters
This filing provides investors with an update on Cleartronic's financial performance and operational status for the most recent quarter, crucial for assessing the company's health and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it inherently contains financial data that can indicate risk, and the company's specific financial health is not detailed here.
Key Players & Entities
- Cleartronic, Inc. (company) — Filer of the 10-Q
- GlobalTel IP, Inc. (company) — Former name of Cleartronic, Inc.
- Clearwater, Florida (location) — Company's business and mailing address
- June 30, 2024 (date) — End of the reporting period
- September 30 (date) — Company's fiscal year end
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ending June 30, 2024.
What was Cleartronic, Inc. formerly known as?
Cleartronic, Inc. was formerly known as GlobalTel IP, Inc.
Where is Cleartronic, Inc. located?
Cleartronic, Inc. is located at 28050 US HWY 19 N, Clearwater, Florida.
What is Cleartronic, Inc.'s fiscal year end?
Cleartronic, Inc.'s fiscal year ends on September 30.
What industry does Cleartronic, Inc. operate in?
Cleartronic, Inc. operates in the Radio Telephone Communications industry.
Filing Stats: 4,559 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-08-13 08:25:58
Key Financial Figures
- $0.00001 — ich registered Common stock Par Value $0.00001 CLRI NONE APPLICABLE ONLY TO CORP
- $72,665 — et of an allowance for credit losses of $72,665 as of June 30, 2024 and $63,665 as of S
- $63,665 — sses of $72,665 as of June 30, 2024 and $63,665 as of September 30, 2023 406,693 545,
- $248,618 — ble assets with a cost of approximately $248,618, with finite lives. The Company amortiz
- $250,000 — ecognized hardware and sales revenue of $250,000. The estimated completion date for the
Filing Documents
- clri6302410q.htm (10-Q) — 660KB
- ex311.htm (EX-31.1) — 4KB
- ex312.htm (EX-31.2) — 4KB
- ex321.htm (EX-32.1) — 2KB
- ex322.htm (EX-32.2) — 2KB
- 0001091818-24-000093.txt ( ) — 3593KB
- clri-20240630.xsd (EX-101.SCH) — 26KB
- clri-20240630_cal.xml (EX-101.CAL) — 41KB
- clri-20240630_def.xml (EX-101.DEF) — 89KB
- clri-20240630_lab.xml (EX-101.LAB) — 210KB
- clri-20240630_pre.xml (EX-101.PRE) — 170KB
- clri6302410q_htm.xml (XML) — 569KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements CLEARTRONIC, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 September 30, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 789,191 $ 516,955 Accounts receivable, net of an allowance for credit losses of $72,665 as of June 30, 2024 and $63,665 as of September 30, 2023 406,693 545,573 Inventory 129,910 21,913 Prepaid expenses and other current assets 71,523 68,522 Interest receivable - related party 4,860 2,724 Total current assets 1,402,177 1,155,687 Property and Equipment, net 39,855 16,526 Intangible Assets, net 142,089 44,373 Operating lease - right-of-use asset 11,966 29,914 Other assets: Due from related party 53,302 53,302 Total other assets 53,302 53,302 Total assets $ 1,649,389 $ 1,299,802 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 127,217 $ 85,858 Deferred revenue, current portion 1,439,578 1,105,580 Operating lease liability 12,885 24,580 Total current liabilities 1,579,680 1,216,018 Long term liabilities: Deferred revenue, net of current portion 40,100 72,100 Operating lease liability - long term - 6,507 Total long term liabilities 40,100 78,607 Total liabilities 1,619,780 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 par