true SBSEF-FIN-QTR OSD Test Company #1 false Something changed! This happens often. 9876543210 2023-10-01 2023-12-31 9876543210 2023-12-31 9876543210 1 2023-12-31 9876543210 2 2023-12-31 9876543210 3 2023-12-31 9876543210 1 2023-12-31 9876543210 2 2023-12-31 9876543210 3 2023-12-31 9876543210 4 2023-12-31 9876543210 3 2023-01-01 2023-12-31 9876543210 1 2023-12-31 9876543210 2 2023-12-31 9876543210 2023-01-01 2023-12-31 9876543210 2023-09-30 9876543210 2023-09-30 2023-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

Rule 829(g) SBSEF-FIN-QTR Financial Report Mockup 

THIS DOCUMENT IS A TECHNICAL ILLUSTRATION OF HOW CERTAIN DISCLOSURES IN SEC FILINGS ARE TO BE TAGGED. IT DOES NOT INDICATE WHICH PARTICULAR DISCLOSURES MUST BE INCLUDED AND/OR TAGGED IN COMMISSION FILINGS, AND IT DOES NOT CONSTITUTE LEGAL GUIDANCE OF ANY SORT.

Financial Resources (Required and Available)

Based on the computation instructions set forth in Rule 829(e) of Regulation SE, we need $ 15,000,000 in financial resources to fulfill our obligations under Rule 829 (Core Principle 12). We have the following financial resources available to us:

· Revolving Credit Facility   - $ 25,000,000   market value
· Cash   - $ 20,000,000   market value
· Dues Receivable   - $ 1,000,000   market value

 

Expenses

The following is a total list of all of our expenses, without any exclusion:

· Technological expense   - $ 2,000,000  
· Lease expense   - $ 3,000,000  
· Advertising expense   - $ 5,000,000  
· Patent expense   - $ 10,000,000  

 

Of the above expenses, we have excluded all $5,000,000 in advertising expense   because we do not plan to spend any further resources on advertising.  

Wind-Down Costs

The following is a list of costs we would incur if were to wind down our operations:

· Asset retirement cost   - $ 2,000,000  
· Severance cost   - $ 4,000,000  

 

We project that winding down our operations would take 8 months . We base this projection on the outcome of ten separate wind-down simulations that we’ve completed over the past year.

 

 

Balance Sheet

    Dec. 31, 20x3   Sep. 30, 20x3
Assets        
Cash and cash equivalents   $ 2,000,000       2,000,000  
Restricted cash   500,000       500,000  
Prepaid expenses   500,000     500,000  
Due from subsidiaries   200,000     200,000  
Right of use assets, operating   4,000,000     4,000,000  
Other assets   6,000       6,000  
Total Assets     7,206,000       7,206,000  
Liabilities and Members' Equity                
Liabilities:                
Accounts payable     400,000       400,000  
Accrued expenses     8,000       8,000  
Lease obligations, operating     4,500,000       4,500,000  
Other liabilities     52,000       52,000  
Total Liabilities     4,900,000       4,900,000  
Total Members' Equity     2,306,000       2,306,000  
Total Liabilities and Members' Equity   $ 7,206,000       7,206,000  

 

Income and Expense Statement

    12 Months ended

Dec. 31, 20x3		  

3 Months ended

Dec 31, 20x3
Operating Expenses                
Compensation & benefits   $ 1,000,000       1,000,000  
Professional fees and outside services   $ 100,000       100,000  
Other expenses   $ 500,000       500,000  
Total Operating Expenses   $ 1,600,000       1,600,000  
Non-Operating                
Interest income   $ 60,000       60,000  
Total Non-Operating   $ 60,000       60,000  
Net Income (Loss)   $ (1,540,000 )     (1,540,000 )

 

Statement of Cash Flows

   

3 Months ended

Dec. 31, 20x3

  
Cash and cash equivalents   $ 2,000,000        
Net Income (Loss)   $ (1,540,000 )     ( )
Increase (Decrease) in Cash and Cash Equivalents   $ 0