Worksport Ltd: 10-Q filed 2023-05-15

Name: Worksport Ltd: 10-Q filed 2023-05-15
Creator: Worksport Ltd

What Worksport Ltd reported in its quarterly report filed 2023-05-15 (fiscal Q1 2023): 38 published measures, 77 facts as tagged in accession 0001493152-23-017146.

This filing

Form: 10-Q (quarterly report)
Filed: 2023-05-15
Fiscal period: fiscal Q1 2023
Accession: 0001493152-23-017146 on SEC EDGAR

Values are as tagged in this filing. A later filing can restate them; each measure links to its history page, which shows the latest-filed value per period. All Worksport Ltd filings.

Reported measures

Total assets

Resources recognized on the balance sheet. Book assets are not the market value of the business.

Period	Value	Unit	Days
At 2023-03-31	30,096,232	USD
At 2022-12-31	32,764,130	USD

Total liabilities

Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.

Period	Value	Unit	Days
At 2023-03-31	8,513,131	USD
At 2022-12-31	8,645,876	USD

Stockholders equity

The reported residual interest after liabilities. It is an accounting amount, not market capitalization.

Period	Value	Unit
At 2023-03-31	21,583,101	USD
At 2022-12-31	24,118,254	USD
At 2022-03-31	31,902,268	USD
At 2021-12-31	34,180,322	USD

Cash and cash equivalents

Cash and qualifying short-term liquid investments under the filer’s accounting policy. Restricted cash and longer-term investments may be reported separately.

Period	Value	Unit	Days
At 2023-03-31	10,489,214	USD
At 2022-12-31	14,620,757	USD

Net income or loss

Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-3,523,270	USD	90
2022-01-01 to 2022-03-31	-2,817,609	USD	90

Operating cash flow

Cash generated or used by operating activities. Working-capital timing can make this differ substantially from reported income.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-2,934,410	USD	90
2022-01-01 to 2022-03-31	-2,130,184	USD	90

Capital expenditure payments

Cash payments to acquire property, plant and equipment. This taxonomy concept does not capture every form of investment or acquisition.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	1,086,921	USD	90
2022-01-01 to 2022-03-31	614,046	USD	90

Contract revenue excluding tax

Revenue from customer contracts excluding assessed taxes under this specific taxonomy concept. It is not automatically comparable to older revenue tags.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	31,925	USD	90
2022-01-01 to 2022-03-31	47,784	USD	90

Financing cash flow

Net cash from financing activities, including borrowing, repayments and transactions with owners. A positive amount does not establish operating profitability.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-43,904	USD	90
2022-01-01 to 2022-03-31	-1,863	USD	90

Investing cash flow

Net cash from investing activities, including asset purchases, disposals and investment transactions. This differs from capital expenditure payments alone.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-1,153,229	USD	90
2022-01-01 to 2022-03-31	-614,046	USD	90

Retained earnings or deficit

Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.

Period	Value	Unit	Days
At 2023-03-31	-36,907,489	USD
At 2022-12-31	-33,384,219	USD

Basic weighted-average shares

Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	17,159,376	shares	90
2022-01-01 to 2022-03-31	16,988,033	shares	90

Basic earnings per share

Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-0.21	USD/shares	90
2022-01-01 to 2022-03-31	-0.17	USD/shares	90

Diluted earnings per share

Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-0.21	USD/shares	90
2022-01-01 to 2022-03-31	-0.17	USD/shares	90

Net property, plant and equipment

Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.

Period	Value	Unit	Days
At 2023-03-31	12,793,184	USD
At 2022-12-31	11,900,672	USD

Share-based compensation expense

Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	1,453,617	USD	90
2022-01-01 to 2022-03-31	1,224,677	USD	90

Operating income or loss

Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	-3,529,948	USD	90
2022-01-01 to 2022-03-31	-2,797,780	USD	90

Current assets

Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.

Period	Value	Unit	Days
At 2023-03-31	14,705,146	USD
At 2022-12-31	18,332,107	USD

Interest expense

Borrowing costs recognized as interest expense. This is distinct from cash interest paid and may not include every capitalized borrowing cost.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	165,099	USD	90
2022-01-01 to 2022-03-31	25,095	USD	90

Current liabilities

Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.

Period	Value	Unit	Days
At 2023-03-31	2,432,819	USD
At 2022-12-31	2,461,730	USD

Net finite-lived intangible assets

Finite-lived intangible assets after amortization. This excludes goodwill and should not be combined with indefinite-lived intangible assets without checking scope.

Period	Value	Unit	Days
At 2023-03-31	1,340,775	USD
At 2022-12-31	1,268,873	USD

Net current accounts receivable

Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.

Period	Value	Unit	Days
At 2023-03-31	100,614	USD
At 2022-12-31	62,601	USD

Operating expenses

Recurring operating costs under this accounting concept, generally excluding production costs included in cost of sales. Check filing presentation before combining expense subtotals.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	3,542,116	USD	90
2022-01-01 to 2022-03-31	2,807,587	USD	90

Net inventory

Inventory carrying amount after applicable valuation and LIFO reserves. It does not establish realizable selling proceeds or inventory turnover without other inputs.

Period	Value	Unit	Days
At 2023-03-31	1,603,795	USD
At 2022-12-31	1,346,372	USD

Gross profit

Revenue less the costs directly attributed to the goods or services sold. It precedes other operating expenses and is not net income.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	12,168	USD	90
2022-01-01 to 2022-03-31	9,807	USD	90

Common shares outstanding

Common shares outstanding at the reporting date. This point-in-time count differs from the weighted-average shares used for earnings per share and can exclude other share classes.

Period	Value	Unit
At 2023-03-31	17,159,376	shares
At 2022-12-31	17,159,376	shares
At 2022-03-31	17,001,034	shares

Additional paid-in capital

Capital contributed above par value under this concept. It records historical contributions, not the current value of the equity or cash on hand.

Period	Value	Unit	Days
At 2023-03-31	57,275,920	USD
At 2022-12-31	56,919,625	USD

Operating lease right-of-use asset

Carrying amount of the right to use leased assets under operating leases. It reflects discounted remaining payments, not the value of the underlying property.

Period	Value	Unit	Days
At 2023-03-31	1,166,396	USD
At 2022-12-31	1,238,055	USD

Operating lease liability

Present value of remaining operating lease payments. Discount-rate choices and lease terms affect the amount; it is not the sum of undiscounted future rent.

Period	Value	Unit	Days
At 2023-03-31	1,179,323	USD

Accumulated depreciation on property, plant and equipment

Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.

Period	Value	Unit	Days
At 2023-03-31	751,775	USD
At 2022-12-31	557,346	USD

Prepaid expenses and other current assets

Prepayments and other current assets grouped under this concept. The balance is not cash and its composition differs by filer.

Period	Value	Unit	Days
At 2023-03-31	2,238,968	USD
At 2022-12-31	2,034,345	USD

Profit or loss including noncontrolling interests

Net income or loss including the portion attributable to noncontrolling interests. It can differ from the net income attributable to the parent that per-share figures use.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	3,523,270	USD	90
2022-01-01 to 2022-03-31	2,817,609	USD	90

General and administrative expense

General and administrative costs reported under this concept, separate from selling expense. Filers group overhead differently, so compare presentation before comparing companies.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	2,129,612	USD	90
2022-01-01 to 2022-03-31	600,858	USD	90

Nonoperating income or expense

Total nonoperating income or expense, which can include interest, investment results and other items. A positive value is not operating profit.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	6,678	USD	90
2022-01-01 to 2022-03-31	-19,829	USD	90

Interest paid, net

Cash interest paid during the period, net of amounts capitalized where the filer reports it that way. It differs from interest expense recognized.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	159,156	USD	90

Operating lease payments

Cash paid for operating lease liabilities during the period. It differs from lease expense recognized and excludes variable payments in some presentations.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	122,156	USD	90
2022-01-01 to 2022-03-31	70,501	USD	90

Change in accounts receivable

The cash flow adjustment for the change in receivables during the period. A positive value under this concept means receivables grew and reduced operating cash flow.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	38,013	USD	90
2022-01-01 to 2022-03-31	-6,733	USD	90

Change in inventories

The cash flow adjustment for the change in inventories during the period. A positive value under this concept means inventory grew and reduced operating cash flow.

Period	Value	Unit	Days
2023-01-01 to 2023-03-31	257,423	USD	90
2022-01-01 to 2022-03-31	290,041	USD	90

Inspect the source

Entity: Worksport Ltd / CIK 0001096275
Captured: 2026-09-19T11:16:28.677Z
SEC response SHA-256: 8d59148273aa06c4ca00e978e85a2a59f8658a3b56f554e3f9e02960a52089e6

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import json
from urllib.request import urlopen

with urlopen("https://canlicapital.com/company-data/0001096275.json") as response:
    record = json.load(response)
print(record["fetched_at"])
print(record["policy"])
for concept in record["concepts"]:
    print(concept["tag"], next(iter(concept["observations"])))