$KTEL

WESTCOTT PRODUCTS CORP

CIK:0000845819|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,869,848	$ 2,158,656	$ 3,774,910	$ 4,327,370
Cost of Revenue	1,376,954	1,608,416	2,476,412	3,125,237
Gross Profit	492,894	550,240	1,298,498	1,202,133
Operating Expenses
Payroll and Related Expenses	340,482	1,081,633	1,073,809	2,192,333
Operating and Maintenance	22,650	2,069	45,423	3,489
Credit Loss	9,838	13,910	29,342	13,910
Professional and Other Expenses	106,113	325,750	190,055	483,181
Utilities and Facilities	1,018	48,528	11,094	94,939
Depreciation and Amortization	11,076	782	19,596	1,565
General and Administrative	44,109	64,975	84,484	114,962
Marketing and Advertising	111	5,396	2,502	10,482
Application Development Costs	81,744	172,967	197,572	351,493
Taxes and Insurance	26,960	32,788	77,042	63,981
Total Operating Expenses	644,101	1,748,798	1,730,919	3,330,335
Operating Income/(Loss)	(151,207)	(1,198,558)	(432,421)	(2,128,202)
Other Income and Expense
Gain (Loss) on Sale	(32,131)		(31,981)
Interest Expense	(17,195)		(21,361)	(577)
Other Income/(Expense), net	1,190	10,917	3,830	23,610
Total Other Income and Expenses	(48,136)	10,917	(49,512)	23,033
Income Before Income Taxes	(199,343)	(1,187,641)	(481,933)	(2,105,169)
Income Tax Expense (Benefit)
Net Income (Loss)	$ (199,343)	$ (1,187,641)	$ (481,933)	$ (2,105,169)
Earnings (Loss) per Share
Basic	$ (0.00)	$ (0.03)	$ (0.01)	$ (0.05)
Diluted	$ (0.00)	$ (0.03)	$ (0.01)	$ (0.05)
Weighted Average Outstanding Shares
Basic	43,979,064	43,412,602	43,979,064	43,301,670
Diluted	43,979,064	43,412,602	43,979,064	43,301,670

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net Loss	$ (481,933)	$ (2,105,169)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and Amortization	19,596	1,565
Credit Loss	29,342	13,910
Stock-based Compensation	(124,992)	484,014
Change in Right of Use Asset	26,734	62,050
Change in Lease Liability	(31,780)	(67,059)
Changes in Operating Assets and Liabilities:
Accounts Receivable	87,730	1,009,534
Inventory and Consigned Equipment	(55,653)	44,821
Prepaid Expenses and Other Assets	32,676	(179,672)
Accounts Payable and Accrued Expenses	(6,425)	398,007
Net cash used in operating activities	(504,705)	(337,999)
Cash Flows from Investing Activities
Sale of Office Equipment	(149)
Notes Receivable		150,000
Net cash provided by (used in) investing activities	(149)	150,000
Cash Flows from Financing Activities
Net cash provided by (used in) financing activities
Net Change in Cash	(504,854)	(187,999)
Cash - Beginning of Year	704,867	1,679,345
Cash - End of Period	200,013	1,491,346
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	3
Cash paid for taxes	$ 970

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and Cash Equivalents	$ 200,013	$ 704,867
Accounts Receivable, Net	167,094	284,167
Inventory, Net	217,227	187,339
Prepaid Expenses	79,055	109,442
Other Current Assets	15,063	15,063
Total Current Assets	678,452	1,300,878
Property and Equipment, Net	95,663	89,343
Other Assets
Intangible Assets, Net	634,251	634,251
Right of Use Asset	190,698	217,432
Notes Receivable	150,000	150,000
Other Assets	70,086	72,375
Total Other Assets	1,045,035	1,074,058
Total Assets	1,819,150	2,464,279
Current Liabilities
Accounts Payable and Accrued Expenses	1,661,819	1,668,244
Right of Use Operating Lease Obligation - Current	40,680	51,736
Income Tax Payable	184,051	184,051
Total Current Liabilities	1,886,550	1,904,031
Long Term Liabilities
Right of Use Operating Lease Obligation - Long Term	155,320	176,043
Total Long-Term Liabilities	155,320	176,043
Total Liabilities	2,041,870	2,080,074
Commitments and Contingencies
Stockholders’ Equity
Common stock, $.001 par value, 50,000,000 shares authorized 43,979,064 outstanding and issued at June 30, 2026 and 43,979,064 outstanding and issued at December 31, 2025	43,979	43,979
Additional Paid In Capital	10,299,377	10,424,369
Accumulated Deficit	(10,566,076)	(10,084,143)
Total Stockholders’ Equity	(222,720)	384,205
Total Liabilities and Stockholders’ Equity	$ 1,819,150	$ 2,464,279