VISION ENERGY Corp

CIK:0001676580|SEC Filings

Condensed Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue
Sales
Total revenue
Cost of goods sold
Direct costs
Total cost of goods sold
Gross profit
Operating expenses
General and administrative expenses	1,501,358	123,398
Management fees – related party	125,000	225,000
Total operating expenses	1,626,358	348,398
Loss from operations	(1,626,358)	(348,398)
Other (income) expense
Total other expenses
Income tax provision
Net loss from continuing operations	(1,626,358)	(348,398)
Discontinued operations (see Note 5)		(608,964)
Net loss	(1,626,358)	(957,362)
Foreign currency translation adjustment	(4,233)	12,189
Comprehensive loss	$ (1,630,591)	$ (945,173)
Loss per share (continuing operations)
Basic and diluted	$ (0.04)	$ (0.01)
Loss per share (discontinued operations)
Basic and diluted	$ (0.00)	$ (0.01)
Weighted average common shares outstanding
Basic and diluted	42,097,552	42,633,916

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continuing operations	$ (1,626,358)	$ (348,398)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,855	3,975
Change in operating assets and liabilities:
Prepaid expenses and other costs	72,740
Sales tax receivable	(12,847)
Accounts payable and accrued expenses	(24,578)	51,789
Net cash used in in operating activities – continuing operations	(1,589,188)	(292,634)
Net cash used in in operating activities – discontinued operations		91,017
Net cash used in operating activities	(1,589,188)	(201,617)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in in investing activities – continuing operations
Net cash used in in investing activities – discontinued operations		(43,393)
Net cash used in investing activities		(43,393)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party notes		60,000
Net cash used in in financing activities – continuing operations		60,000
Net cash used in financing activities – discontinued operations		36,614
Net cash provided by financing activities		96,614
Net increase (decrease) in cash and cash equivalents	(1,589,188)	(148,396)
Effect of foreign currency translation on cash	(4,233)	(2,414)
Cash and cash equivalents - beginning of period	3,712,826	153,749
Cash and cash equivalents - end of period	$ 2,119,405	$ 2,939

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 2,119,405	$ 3,712,826
Prepaid expenses	359,555	432,295
Sales tax receivable	42,113	29,266
Total current assets	2,521,073	4,174,387
Deferred offering cost	25,000	25,000
Website development costs, net	83,598	85,453
Total non-current assets	108,598	110,453
Total assets	2,629,671	4,284,840
Current liabilities
Accounts payable and accrued expenses	150,975	175,553
Total current liabilities	150,975	175,553
Total noncurrent liabilities
Total liabilities	150,975	175,553
Commitments and contingencies
Stockholders’ equity (deficit)
Preferred stock - $0.0001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding
Common stock - $0.0001 par value; 200,000,000 shares authorized; 42,097,552 shares issued and outstanding as of March 31, 2023, and December 31, 2022	4,208	4,208
Additional paid-in capital	24,439,016	24,439,016
Accumulated deficit	(21,961,940)	(20,335,582)
Accumulated other comprehensive gain	(2,588)	1,645
Total stockholders’ equity (deficit)	2,478,696	4,109,287
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)	$ 2,629,671	$ 4,284,840