10-Q/A Filing

MK AUTOMOTIVE, INC. CIK: 1486452 Q1 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-11-053430`
Period End Date	20110630
Filing Date	20110916
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	mkaue-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 30 Cash Flow Statement 37

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`Cash`	$111.66K	USD	Point-in-time
Cash	`Cash`	$49.58K	USD	Point-in-time
Cash	`Cash`	$80.26K	USD	Point-in-time
Cash	`Cash`	$86.02K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.14M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.14M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$56.91K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.56K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$28.91K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$29.66K	USD	Point-in-time
Deferred Offering Cost	`DeferredOfferingCosts`	$20.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$158.05K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$166.83K	USD	Point-in-time
Building	`BuildingsAndImprovementsGross`	$480.62K	USD	Point-in-time
Building	`BuildingsAndImprovementsGross`	$480.62K	USD	Point-in-time
Furniture, fixtures, and equipment	`FurnitureFixturesAndEquipmentGross`	$158.08K	USD	Point-in-time
Furniture, fixtures, and equipment	`FurnitureFixturesAndEquipmentGross`	$158.08K	USD	Point-in-time
Buildings, Furniture, Fixtures and Equipment, Gross, Total	`BuildingsFurnitureFixturesAndEquipmentGross`	$638.70K	USD	Point-in-time
Buildings, Furniture, Fixtures and Equipment, Gross, Total	`BuildingsFurnitureFixturesAndEquipmentGross`	$638.70K	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$227.57K	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$223.63K	USD	Point-in-time
Land, Buildings, Furniture, Fixtures and Equipment, Net, Total	`LandBuildingsFurnitureFixturesAndEquipmentNet`	$411.13K	USD	Point-in-time
Land, Buildings, Furniture, Fixtures and Equipment, Net, Total	`LandBuildingsFurnitureFixturesAndEquipmentNet`	$415.07K	USD	Point-in-time
Land	`Land`	$919.38K	USD	Point-in-time
Land	`Land`	$919.38K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$1.33M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$1.33M	USD	Point-in-time
Goodwill	`Goodwill`	$1.23M	USD	Point-in-time
Goodwill	`Goodwill`	$1.23M	USD	Point-in-time
Total Assets	`Assets`	$2.73M	USD	Point-in-time
Total Assets	`Assets`	$2.72M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$198.23K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$221.25K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$60.24K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$49.58K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$223.77K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$236.59K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$96.60K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$93.40K	USD	Point-in-time
Payable to Related Party	`DueToRelatedPartiesCurrent`	$220.86K	USD	Point-in-time
Payable to Related Party	`DueToRelatedPartiesCurrent`	$220.86K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$612.14K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$541.10K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.36M	USD	Point-in-time
Long-term debt - third party, net of current portion	`LongTermDebtNoncurrent`	$1.23M	USD	Point-in-time
Long-term debt - third party, net of current portion	`LongTermDebtNoncurrent`	$1.26M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.23M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.26M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.63M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.64M	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized; 31,139,145 and 30,414,145 shares issued and outstanding	`CommonStockValue`	$31.14K	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized; 31,139,145 and 30,414,145 shares issued and outstanding	`CommonStockValue`	$30.41K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.12M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$90.93K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$89.95K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.73M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.72M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$936.32K	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$1.15M	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$820.30K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$896.60K	USD	1 Quarter
Gross Profit	`GrossProfit`	$256.30K	USD	1 Quarter
Gross Profit	`GrossProfit`	$116.02K	USD	1 Quarter
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$26.01K	USD	1 Quarter
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$30.65K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$11.43K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$7.96K	USD	1 Quarter
Bank charges	`BankServiceCharge`	$16.11K	USD	1 Quarter
Bank charges	`BankServiceCharge`	$18.07K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$91.35K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$31.21K	USD	1 Quarter
Bad debt	`ProvisionForDoubtfulAccounts`	$1.59K	USD	1 Quarter
Operating Expenses, Total	`OperatingExpenses`	$148.46K	USD	1 Quarter
Operating Expenses, Total	`OperatingExpenses`	$85.94K	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$30.08K	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$107.84K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$597.00	USD	1 Quarter
Interest expense	`InterestExpense`	$54.10K	USD	1 Quarter
Interest expense	`InterestExpense`	$37.84K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-37.24K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-54.10K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-24.02K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$70.60K	USD	1 Quarter
Basic and diluted (loss) earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted (loss) earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	30.70M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	29.85M	shares	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`NetIncomeLoss`	$-24.02K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$70.60K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$55.56K	USD	1 Quarter
Depreciation	`Depreciation`	$3.94K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.65K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.68K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.14K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-750.00	USD	1 Quarter
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$23.02K	USD	1 Quarter
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$-11.77K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.16K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-52.79K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$58.05K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.20K	USD	1 Quarter
Payment of advances from shareholders/related parties	`RepaymentsOfRelatedPartyDebt`	$8.30K	USD	1 Quarter
Payments on line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-3.20K	USD	1 Quarter
Payments on line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-3.47K	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebt`	$71.92K	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebt`	$35.68K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-38.88K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-83.69K	USD	1 Quarter
Net Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-30.68K	USD	1 Quarter
Net Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-25.63K	USD	1 Quarter
Cash at Beginning of Period	`Cash`	$111.66K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$49.58K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$80.26K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$86.02K	USD	Point-in-time
Cash at End of Period	`Cash`	$111.66K	USD	Point-in-time
Cash at End of Period	`Cash`	$49.58K	USD	Point-in-time
Cash at End of Period	`Cash`	$80.26K	USD	Point-in-time
Cash at End of Period	`Cash`	$86.02K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$35.62K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$31.58K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Deferred Offering Cost	`SupplementalOfferingAndStockIssuanceCosts`	$20.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.