Artisan Consumer Goods, Inc 10-Q for FY2024 Q1

Artisan Consumer Goods, Inc. (ARRT)

10-Q 2023-11-21 For: 2023-09-30

Added on April 06, 2026

About this 10-Q

Artisan Consumer Goods, Inc filed this 10-Q on November 21, 2023, covering the quarter ended September 30, 2023 (FY2024 Q1).

Headline figures

Quarter ended September 30, 2023, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $0; compared with $865 a year earlier
Net loss: $5935; compared with a net loss of $20.91K a year earlier

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Nevada		26-1240056
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

Index		Page

Part I. Financial Information

Item 1.	Financial Statements	4

	Balance Sheets as of September 30, 2023 and June 30, 2023 (unaudited).	4

	Statements of Operations for the three months ended September 30, 2023 and 2022 (unaudited).	5

	Statements of Changes in Stockholders’ Deficiency for the three months ended September 30, 2023 and 2022 (unaudited).	6

	Statements of Cash Flow for the nine months ended September 30, 2023 and 2022 (unaudited).	7

	Notes to Financial Statements (unaudited).	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	11

Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	12

Item 4.	Controls and Procedures.	12

Part II. Other Information

Item 1.	Legal Proceedings.	13

Item 1A.	Risk Factors	13

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	13

Item 3.	Defaults Upon Senior Securities.	13

Item 4.	Mine Safety Disclosures.	13

Item 5.	Other Information.	13

Item 6.	Exhibits.	14

Signatures		15

ARTISAN CONSUMER GOODS, INC.
Balance Sheets (Unaudited)


	September 30, 2023			June 30, 2023

Assets
Current assets:
Cash	$	15,322		$	2,067
Total current assets		15,322			2,067

Other assets
Intellectual property (net of accumulated amortization of $6,625 and $5,875) as of September 30, 2023 and June 30, 2023, respectively		2,375			3,125
Trademarks		1,000			1,000
Total other assets		3,375			4,125

Total Assets	$	18,697		$	6,192

Liabilities and Stockholders' Deficiency

Current liabilities:
Accounts payable	$	52,472		$	49,522
Accrued expenses		48,257			48,257
Related party loans		183,666			168,666
Total current liabilities		284,395			266,445

Commitments and contingencies		-			-

Stockholders' deficiency:
Preferred stock, $0.001 par value; 25,000,000 shares authorized, -0- preferred stock shares issued and outstanding as of September 30, 2023 and June 30, 2023		-			-
Common stock, $0.001 par value, 500,000,000 shares authorized 4,400,048 issued and outstanding as of September 30, 2023 and June 30, 2023		4,400			4,400
Additional paid-in capital		18,984,200			18,984,200
Stock to be issued		9,888			9,398
Accumulated deficit		(19,264,186	)		(19,258,251	)
Total stockholders' deficiency		(265,698	)		(260,253	)

Total Liabilities and Stockholders' Deficiency	$	18,697		$	6,192

ARTISAN CONSUMER GOODS, INC.
Statements of Operations (Unaudited)

	For the Three Months Ended
	September 30, 2023			September 30, 2022

Revenue	$	-		$	865
Cost of Revenue		-			434

Gross margin		-			431

Operating expenses:
Stock based compensation		490			805
Professional fees		3,700			13,533
General and administrative expenses		995			6,270
Amortization expense		750			750
Total operating expenses		5,935			21,358

Net operating income (loss)		(5,935	)		(20,927	)

Other income (expense):
Other income		-			15
Total Other income (expense)		-			15

Net income (loss)	$	(5,935	)	$	(20,912	)

Basic and diluted income (loss) per share	$	(0.00	)	$	(0.00	)

Weighted average number of common
shares outstanding - basic and diluted		4,400,048			4,400,048

ARTISAN CONSUMER GOODS, INC.
Statements of Changes in Stockholders' Deficiency (Unaudited)

	Common Stock				Preferred Stock				Additional Paid-In		Common Stock		Accumulated			Total Stockholders'
	Shares		Amount		Shares		Amount		Capital		To Be Issued		Deficit			Deficiency
For the Three Months Ended September 30, 2022
Balance at June 30, 2022		4,400,048	$	4,400		-	$	-	$	18,984,200	$	7,543	$	(19,215,426	)	$	(219,283	)

Stock based compensation												805					805
Net loss														(20,912	)		(20,912	)

Balance at September 30, 2022		4,400,048	$	4,400		-	$	-	$	18,984,200	$	8,348	$	(19,236,338	)	$	(239,390	)

For the Three Months Ended September 30, 2023
Balance at June 30, 2023		4,400,048	$	4,400		-	$	-	$	18,984,200	$	9,398	$	(19,258,251	)	$	(260,253	)

Stock based compensation												490					490
Net loss														(5,935	)		(5,935	)

Balance at September 30, 2023		4,400,048	$	4,400		-	$	-	$	18,984,200	$	9,888	$	(19,264,186	)	$	(265,698	)

ARTISAN CONSUMER GOODS, INC.
Statements of Cash Flow (Unaudited)

	For the Three Months Ended
	September 30, 2023			September 30, 2022

Cash flows from operating activities:
Net income (loss)	$	(5,935	)	$	(20,912	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization expense		750			750
Stock based compensation		490			805
Fair value adjustment for shares issued from settlement agreement (Note 3)		-			(15	)
Changes in operating assets and liabilities:
Accounts receivable		-			(508	)
Inventory		-			301
Accounts payable		2,950			9,507
Net cash used in operating activities		(1,745	)		(10,072	)

Cash flows from financing activities
Proceeds from related party advances		15,000			-
Net cash provided by financing activities		15,000			-

Net increase (decrease) in cash		13,255			(10,072	)
Cash - beginning of the year		2,067			13,555
Cash - end of the year	$	15,322		$	3,483

Supplemental disclosures:
Interest paid	$	-		$	-
Income taxes	$	-		$	-

WWG Trademark		1,000
Commercial Sales Channel		2,000
Customer List		5,000
Other Intellectual Property		2,000

Total	$	10,000

Number		Description

3.1.1		Articles of Incorporation (1)
3.1.2		Certificate of Amendment (2)
3.1.3		Certificate of Amendment (3)
3.1.4		Certificate of Amendment (4)
3.1.5		Certificate of Change (5)
3.1.6		Certificate of Amendment (6)
3.2.1		Bylaws (1)
10.1		Asset Purchase and Sale Agreement between Artisan Consumer Goods and Paleo Scavenger, LLC.
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
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104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

(1)	Incorporated by reference to the Registrant’s Form S-1 (File No. 333-176939), filed with the Commission on September 21, 2011.
(2)	Incorporated by reference to the Registrant’s Form 10-K (File No. 000-54838), filed with the Commission on October 15, 2013.
(3)	Incorporated by reference to the Registrant’s Form 10-K (File No. 000-54838), filed with the Commission on January 31, 2017.
(4)	Incorporated by reference to the Registrant’s Form 10-Q for the fiscal quarter ended September 30, 2016 (File No. 000-54838), filed with the Commission on February 1, 2017.
(5)	Incorporated by reference to the Registrant’s Form 10-K (File No. 000-54838), filed with the Commission on October 16, 2017.
(6)	Incorporated by reference to the Registrant’s Form 8-K (File No. 000-54838), filed with the Commission on May 23, 2018.

	ARTISAN CONSUMER GOODS, INC.
	(Name of Registrant)

Date: November 20, 2023	By:	/s/ Amber Joy Finney
	Name:	Amber Joy Finney
	Title:	President and Chief Executive Officer (principal executive officer, principal accounting officer and principal financial officer)

1.	I have reviewed the September 30, 2023 quarterly report on Form 10-Q of Artisan Consumer Goods, Inc.:

2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

(1)	such Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)	the information contained in such Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 fairly presents, in all material respects, the financial condition and results of operations of Artisan Consumer Goods, Inc.