Tribus Enterprises, Inc.

CIK:0001706573|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 156,556	$ 68,162	$ 206,677	$ 80,961
Cost of goods sold	203,379	53,092	499,922	138,567
Gross margin	(46,823)	15,070	(293,245)	(57,606)
Operating expenses
Employee costs	163,169	107,627	553,614	237,378
Professional fees	17,774	40,114	104,050	70,508
General and administrative	98,352	42,499	285,316	124,632
Facilities	15,895	21,184	65,048	74,380
Research and development				12,781
Depreciation expense	13,185	19,825	59,800	124,376
Total operating expenses	308,375	231,249	1,067,828	644,055
Net loss from operations	(355,198)	(216,179)	(1,361,073)	(701,661)
Other income (expense)
Other income/(expense), net	2,621	14,282	19,333	57,031
Gain/(loss) on sale of equipment				(34,147)
Interest expense	(2,392)	(5,654)	(8,116)	(43,224)
Total other income (expense)	229	8,628	11,217	(20,340)
Income tax
Net and comprehensive loss	$ (354,969)	$ (207,551)	$ (1,349,856)	$ (722,001)
Net loss per share, basic and diluted	$ (0.01)	$ (0.02)	$ (0.04)	$ (0.06)
Weighted average shares outstanding, basic and diluted	36,269,836	13,545,658	35,805,541	12,914,220

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (1,349,856)	$ (722,001)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	184,750	156,123
Change in right of use assets	59,421	45,822
Inventory allowance	10,347	8,604
(Gain)/loss on sale of equipment		34,562
Changes in operating assets and liabilities:
Accounts receivable	(49,600)	(2,411)
Prepaid expenses	(11,126)	15,511
Deposits, current	100,000
Deposits	(4,000)	31,097
Inventory	(261,145)	(358,303)
Accounts payable and accrued liabilities	(39,095)	34,189
Interest payable		(61,938)
Deferred rent		1,247
Estimated warranty liability	387
Deferred revenue	(8,864)	(3,429)
Sub lease security deposit		3,200
Payments of operating lease liability	(62,791)	(48,056)
Forgiveness of CARES act loan	(14,304)
Net cash used in operating activities	(1,445,876)	(865,783)
Cash flows from investing activities
Purchase of equipment	(321,417)	(438,303)
Sale of equipment		370,000
Net cash used in investing activities	(321,417)	(68,303)
Cash flows from financing activities
Repayments of finance leases	(102,651)	(447,671)
Repayments of loans payable	(87,994)	(412,566)
Proceeds from loan payable	24,719
Proceeds from CARES act loan		14,304
Shareholder contribution		(3,200)
Proceeds from sale of common stock	2,128,200	1,546,200
Proceeds from the sale of series B preferred stock		517,860
Payments of direct incremental costs associated with the sale of stock	(160,900)	(200,000)
Net cash provided by financing activities	1,801,374	1,014,927
Cash, beginning of period	390,197	150,741
Net change in cash	34,081	80,841
Cash, end of period	424,278	231,582
Supplemental cash flow information
Cash paid for interest	8,116	105,162
Cash paid for income taxes
Supplemental disclosure of non-cash financing activities
Returned equipment purchased through a finance lease	(497,302)
Finance leases entered into for purchase of equipment		280,012
Loan entered into for purchase of equipment	$ 1,099,900	$ 146,340

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Current assets
Cash	$ 424,278	$ 390,197
Accounts receivable (Note 5)	52,974	3,374
Inventory, net of inventory valuation of $41,931 and $3,891, respectively (Note 6)	654,749	403,951
Prepaid expenses	11,396	270
Deposits, current (Note 7)		100,000
Total current assets	1,143,397	897,792
Deposits	14,240	10,240
Right of use asset, operating leases	34,508	93,929
Equipment and intangibles, net of accumulated depreciation of $552,930 and $368,180, respectively (Note 8)	2,364,288	1,625,022
Total assets	3,556,433	2,626,983
Current liabilities
Accounts payable and accrued liabilities	252,049	291,144
Deferred revenue (Note 9)	3,385	12,249
Operating lease liability, current (Note 10)	27,937	86,495
Finance lease, current (Note 11)	139,302	137,213
Loans payable, current (Note 12)	1,037,160	273,528
Total current liabilities	1,459,833	800,629
Operating lease liability, net of current portion (Note 10)		4,233
Finance lease, net of current portion (Note 11)	5,696	110,435
Loans payable, net of current portion (Note 12)	17,274	255,887
Other long-term liabilities	6,642	6,255
Total liabilities	1,489,445	1,177,439
Stockholders’ equity
Common stock, $0.001 par value; 100,000,000 authorized; 36,549,358 and 34,421,158 issued and outstanding at December 31, 2021 and March 31, 2021, respectively (Note 13)	36,549	34,421
Additional paid in capital	8,015,006	6,249,834
Accumulated deficit	(5,996,234)	(4,846,378)
Total stockholders' equity	2,066,988	1,449,544
Total liabilities and stockholders’ equity	3,556,433	2,626,983
Series A Preferred Stock [Member]
Stockholders’ equity
Preferred stock, value, issued	6,667	6,667
Total stockholders' equity	6,667	6,667
Series B Preferred Stock [Member]
Stockholders’ equity
Preferred stock, value, issued	5,000	5,000
Total stockholders' equity	$ 5,000	$ 5,000