Forza Innovations Inc (FORZ) Financial Statements (2024 and earlier)

Company Profile

Business Address 406 9TH AVENUE
SAN DIEGO, CA 92101
State of Incorp. WY
Fiscal Year End June 30
Industry (SIC) 3442 - Metal Doors, Sash, Frames, Molding, and Trim Manufacturing (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2023
MRQ
12/31/2022
MRQ
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments522961417517018
Cash and cash equivalents522961417517018
Receivables19  8653114
Inventory, net of allowances, customer advances and progress billings      8
Inventory      8
Prepaid expense  5    
Total current assets:7030114261223140
Noncurrent Assets
Property, plant and equipment206156109227239118
Intangible assets, net (including goodwill)   15   
Intangible assets, net (excluding goodwill)   15   
Other noncurrent assets  6    
Other undisclosed noncurrent assets6  360163267
Total noncurrent assets:212162124587402386
TOTAL ASSETS:282463138848625526
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1185093642552
Interest and dividends payable13058   
Employee-related liabilities  747
Accounts payable   35   
Accrued liabilities132110    
Other undisclosed accounts payable and accrued liabilities(14)(189) 572146
Debt1,52123273222 225
Derivative instruments and hedges, liabilities  663    
Due to related parties 19195512310267
Other undisclosed current liabilities5141,035 18114186
Total current liabilities:2,1711,790421427241530
Noncurrent Liabilities
Long-term debt and lease obligation    361  
Long-term debt, excluding current maturities    361  
Other undisclosed noncurrent liabilities     286 
Total noncurrent liabilities:    361286 
Total liabilities:2,1711,790421788527530
Equity
Equity, attributable to parent, including:(1,890)(1,327)(283)6098(4)
Preferred stock101010101010
Common stock78022028181818
Additional paid in capital5,1894,6123,174384101101
Accumulated deficit(7,895)(6,195)(3,495)(352)(31)(133)
Other undisclosed equity, attributable to parent2626    
Total equity:(1,890)(1,327)(283)6098(4)
TOTAL LIABILITIES AND EQUITY:282463138848625526

Income Statement (P&L) ($ in thousands)

3/31/2023
TTM
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Revenues(45)26 605769237
Gain (loss) on disposition of assets for financial service operations385967   
Cost of revenue(26)(3) (398)(458)(84)
Other undisclosed gross profit(3)     
Gross profit:(74)23 207311152
Operating expenses(1,771)(1,923)(60)(232)(148)(221)
Other operating expense, net
(Other Expenses)
     (21)(8)
Other undisclosed operating income131   218
Operating income (loss):(1,714)(1,900)(60)(25)162(68)
Nonoperating expense
(Other Nonoperating expense)
(1,339)(801)    
Interest and debt expense(952)(1,166) (44)(21)(8)
Income (loss) from continuing operations before equity method investments, income taxes:(4,004)(3,866)(60)(69)141(76)
Other undisclosed loss from continuing operations before income taxes   (3,108)(253)  
Income (loss) from continuing operations before income taxes:(4,004)(3,866)(3,169)(321)141(76)
Income tax expense (benefit)     38(16)
Other undisclosed income from continuing operations9521,166    
Income (loss) from continuing operations:(3,052)(2,701)(3,169)(321)180(92)
Income (loss) before gain (loss) on sale of properties:(2,190)(2,701)(3,143)(321)180(92)
Income from discontinued operations   25   
Net income (loss):(3,052)(2,701)(3,143)(321)180(92)
Other undisclosed net income (loss) attributable to parent     (77)16
Net income (loss) attributable to parent:(3,052)(2,701)(3,143)(321)103(76)
Other undisclosed net income available to common stockholders, basic   6,312   
Net income (loss) available to common stockholders, diluted:(3,052)(2,701)3,169(321)103(76)

Comprehensive Income ($ in thousands)

3/31/2023
TTM
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Net income (loss):(3,052)(2,701)(3,143)(321)180(92)
Comprehensive income (loss), net of tax, attributable to parent:(3,052)(2,701)(3,143)(321)180(92)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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