Artisan Consumer Goods, Inc 10-Q for FY2023 Q2

Artisan Consumer Goods, Inc. (ARRT)

10-Q 2023-02-21 For: 2022-12-31

Added on April 06, 2026

About this 10-Q

Artisan Consumer Goods, Inc filed this 10-Q on February 21, 2023, covering the quarter ended December 31, 2022 (FY2023 Q2).

Headline figures

Quarter ended December 31, 2022, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $6569; compared with $0 a year earlier
Net loss: $5430; compared with a net loss of $9028 a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common	ARRT	OTC Markets

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 December 31, 2022 and June 30, 2022 (unaudited).	4

	Statements of Operations for the three and six months ended December 31, 2022 and 2021 (unaudited).	5

	Statements of Changes in Stockholders’ Deficiency for the three and six months ended December 31, 2022 and 2021 (unaudited).	6

	Statements of Cash Flow for the six months ended December 31, 2022 and 2021 (unaudited).	7

	Notes to Financial Statements (unaudited).	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	12

Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	14

Item 4.	Controls and Procedures.	14

Part II. Other Information

Item 1.	Legal Proceedings.	15

Item 1A.	Risk Factors	15

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	15

Item 3.	Defaults Upon Senior Securities.	15

Item 4.	Mine Safety Disclosures.	15

Item 5.	Other Information.	15

Item 6.	Exhibits.	16

Signatures		17

	December 31, 2022			June 30, 2022

Assets
Current assets:
Cash	$	8,855		$	13,555
Accounts Receivable		848			-
Inventory		2,541			8,224
Total current assets		12,244			21,779

Other assets
Intellectual property (net of accumulated amortization of $3,625 and $2,875 as of December 31, 2022 and June 30, 2022, respectively		4,625			6,125
Trademarks		1,000			1,000
Total other assets		5,625			7,125

Total Assets	$	17,869		$	28,904

Liabilities and Stockholders' Deficiency

Current liabilities:
Accounts payable	$	48,227		$	45,685
Accrued expenses		48,271			48,286
Related party loans		165,666			154,216
Total current liabilities		262,164			248,187

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 December 31, 2022 and June 30, 2022		-			-
Common stock, $0.001 par value, 500,000,000 shares authorized 4,400,048 issued and outstanding as of as of December 31, 2022 and June 30, 2022		4,400			4,400
Additional paid-in capital		18,984,200			18,984,200
Stock to be issued		8,873			7,543
Accumulated deficit		(19,241,768	)		(19,215,426	)
Total stockholders' deficiency		(244,295	)		(219,283	)

Total Liabilities and Stockholders' Deficiency	$	17,869		$	28,904

	For the Three Months Ended						For the Six Months Ended
	December 31, 2022			December 31, 2021			December 31, 2022			December 31, 2021

Revenue	$	6,569		$	-		$	7,434			-
Cost of Revenue		5,330			-			5,765			-

Gross margin		1,239			-			1,669			-

Operating expenses:
Stock based compensation	$	525		$	560			1,330			980
Professional fees		3,598			3,643			17,131			18,178
General and administrative expenses		1,796			1,389			8,065			1,556
Amortization expense		750			750			1,500			1,375
Total operating expenses		6,669			6,342			28,026			22,089

Net operating income (loss)		(5,430	)		(6,342	)		(26,357	)		(22,089	)

Other income (expense):
Other income		-			(2,686	)		15			(129	)
Total Other income (expense)		-			(2,686	)		15			(129	)

Net income (loss)	$	(5,430	)	$	(9,028	)	$	(26,342	)	$	(22,218	)

Basic and diluted income (loss) per share	$	(0.00	)	$	(0.00	)	$	(0.01	)	$	(0.01	)

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

											Common
									Additional		Stock					Total
	Common Stock				Preferred Stock				Paid-In		To Be		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Capital		Issued		Deficit			Deficiency
For the Three Months Ended December 31, 2021
Balance at September 30, 2021		4,400,048	$	4,400		-	$	-	$	18,984,200	$	6,493	$	(19,190,079	)	$	(194,986	)

Stock based compensation												560					560
Net loss														(9,028	)		(9,028	)

Balance at December 31, 2021		4,400,048	$	4,400		-	$	-	$	18,984,200	$	7,053	$	(19,199,107	)	$	(203,454	)

For the Six Months Ended December 31, 2021
Balance at June 30, 2021		4,400,048	$	4,400		-	$	-	$	18,984,200	$	6,073	$	(19,176,889	)	$	(182,216	)

Stock based compensation												980					980
Net loss														(22,218	)		(22,218	)

Balance at December 31, 2021		4,400,048	$	4,400		-	$	-	$	18,984,200	$	7,053	$	(19,199,107	)	$	(203,454	)


For the Three Months Ended December 31, 2022
Balance at September 30, 2022		4,400,048	$	4,400		-	$	-	$	18,984,200	$	8,348	$	(19,236,338	)	$	(239,390	)

Stock based compensation												525					525
Net loss														(5,430	)		(5,430	)

Balance at December 31, 2022		4,400,048	$	4,400		-	$	-	$	18,984,200	$	8,873	$	(19,241,768	)	$	(244,295	)

For the Six Months Ended December 31, 2022
Balance at 06/30/2022		4,400,048	$	4,400		-	$	-	$	18,984,200	$	7,543	$	(19,215,426	)	$	(219,283	)

Stock based compensation												1,330					1,330
Net income														(26,342	)		(26,342	)

Balance at December 31, 2022		4,400,048	$	4,400		-	$	-	$	18,984,200	$	8,873	$	(19,241,768	)	$	(244,295	)

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.
101*		Interactive Data File
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		INLINE XBRL Taxonomy Extension Schema Document
101.CAL		INLINE XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		INLINE XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		INLINE XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		INLINE XBRL Taxonomy Extension Presentation Linkbase Document
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: February 21, 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)

By	/s/ Amber Finney	Print Name:	Amber Finney

PALEO SCAVENGER LLC

By	/s/ Brittany Chibe	Print Name:	Brittany Chibe

1.	I have reviewed the December 31, 2022 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 December 31, 2022 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 December 31, 2022 fairly presents, in all material respects, the financial condition and results of operations of Artisan Consumer Goods, Inc.