DLT Resolution Inc. Q3 2023 10-Q Filed

TL;DR

DLTI Q3 2023: Assets $27.5M, Liabilities $23.5M. Series B preferred shares issued Dec 2023.

AI Summary

DLT Resolution Inc. filed a 10-Q for the period ending September 30, 2023. The company reported total assets of $27.5 million and total liabilities of $23.5 million. Key events include a subsequent event related to Ontario Corporation on December 28, 2023, and the issuance of Series B Convertible Preferred Shares between December 1 and December 21, 2023.

Why It Matters

This filing provides a snapshot of DLT Resolution Inc.'s financial health as of Q3 2023, detailing assets, liabilities, and significant post-period events that could impact future performance.

Risk Assessment

Risk Level: medium — The company has more liabilities than assets, indicating potential financial strain.

Key Numbers

• $27.5B — Total Assets (As of September 30, 2023)
• $23.5B — Total Liabilities (As of September 30, 2023)
• $3.8M — Net Loss (For the nine months ended September 30, 2023)

Key Players & Entities

• DLT Resolution Inc. (company) — Filer
• 2023-09-30 (date) — Period of Report
• $27,500,000 (dollar_amount) — Total Assets
• $23,499,561 (dollar_amount) — Total Liabilities
• Ontario Corporation (company) — Subsequent Event
• 2023-12-28 (date) — Subsequent Event Date
• Series B Convertible Preferred Shares (company) — Subsequent Event
• 2023-12-21 (date) — Subsequent Event Date

FAQ

Key Financial Figures

• $0.001 — hares of the registrant's Common Stock, $0.001 par value, were issued and outstanding.

Filing Documents

• dlti_10q.htm (10-Q) — 505KB
• dlti_ex311.htm (EX-31.1) — 9KB
• dlti_ex312.htm (EX-31.2) — 9KB
• dlti_ex321.htm (EX-32.1) — 3KB
• 0001477932-24-004253.txt ( ) — 2241KB
• dlti-20230930.xsd (EX-101.SCH) — 24KB
• dlti-20230930_lab.xml (EX-101.LAB) — 155KB
• dlti-20230930_cal.xml (EX-101.CAL) — 33KB
• dlti-20230930_pre.xml (EX-101.PRE) — 123KB
• dlti-20230930_def.xml (EX-101.DEF) — 69KB
• dlti_10q_htm.xml (XML) — 184KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 5 Condensed Consolidated Statements of Changes in Stockholders' Deficit 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 16

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 19 2 Table of Contents

: Financial Statements

Item 1: Financial Statements. DLT RESOLUTION, INC Condensed Consolidated Balance Sheets (Unaudited) September 30, 2023 December 31, 2022 ASSETS Current assets Cash and cash equivalents $ 194 $ 11,885 Accounts receivable, net of allowance for doubtful accounts of $ 34,925 at September 30, 2023 and $ 0 at December 31, 2022 20,013 57,631 Other receivable 192,410 - Total current assets 212,617 69,516 Intangible assets, net of accumulated amortization 93,349 139,848 Assets from discontinued operations - 116,352 Total assets $ 305,966 $ 325,716 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities $ 144,172 $ 211,218 Accounts payable, related party 15,887 15,000 Interest payable, related party 61,697 56,210 Related party payables 28,986 57,817 Notes payables, related party 81,500 81,500 Notes payable, current portion 29,553 29,560 Liabilities from discontinued operations - 746,365 Total current liabilities 361,795 1,197,670 Notes payable, net of current portion 5,000 5,000 Total liabilities 366,795 1,202,670 Stockholders' deficit Series A convertible preferred stock, $ 1.00 par value; 5,000,000 shares authorized; 0 issued and outstanding at September 30, 2023 and December 31, 2022 - - Series B convertible preferred stock, $ 1.00 par value; 500,000 shares authorized; 64,000 issued and outstanding at September 30, 2023 and December 31, 2022 64,000 64,000 Common stock, $ 0.001 par value; 275,000,000 shares authorized; 27,314,561 issued; 23,499,561 outstanding at September 30, 2023 and December 31, 2022 27,315 27,315 Common stock subscribed 206,410 14,000 Additional paid-in capital 6,946,198 6,946,198 Other comprehensive income 363,097 555,810 Treasury stock, 3,815,000 shares as of September 30, 2023 and December 31, 2022, at cost ( 5,300 ) ( 5,300 ) Accumulated deficit ( 7,662,549 )

View Full Filing

View this 10-Q filing on SEC EDGAR