10-Q Filing

MK AUTOMOTIVE, INC. CIK: 1486452 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-066003`
Period End Date	20110930
Filing Date	20111121
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	mkau-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 62 Cash Flow Statement 40

Balance Sheet 66 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`	$39.03K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.14M	shares	Point-in-time
Cash	`Cash`	$34.58K	USD	Point-in-time
Cash	`Cash`	$80.26K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.41M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$50.07K	USD	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$29.66K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$32.10K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$166.83K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$116.75K	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`	$223.63K	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$231.51K	USD	Point-in-time
Land, Buildings, Furniture, Fixtures and Equipment, Net, Total	`LandBuildingsFurnitureFixturesAndEquipmentNet`	$407.18K	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`	$2.67M	USD	Point-in-time
Total Assets	`Assets`	$2.73M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$204.33K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$198.23K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$60.24K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$42.94K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$240.81K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$223.77K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$96.60K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$90.35K	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 - third party	`LongTermDebtCurrent`	$639.05K	USD	Point-in-time
Current portion of long-term debt - third party	`LongTermDebtCurrent`	$612.14K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.41M	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`	$1.20M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.23M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.64M	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`	$30.41K	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
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`	$-2.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$35.75K	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`	$2.67M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$943.34K	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$2.39M	USD	2 Qtrs
Net Sales	`SalesRevenueNet`	$1.24M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$1.88M	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$1.66M	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$1.95M	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$840.15K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$1.06M	USD	1 Quarter
Gross Profit	`GrossProfit`	$219.26K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$437.14K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$180.85K	USD	1 Quarter
Gross Profit	`GrossProfit`	$103.19K	USD	1 Quarter
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$31.43K	USD	1 Quarter
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$58.98K	USD	2 Qtrs
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$62.08K	USD	2 Qtrs
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$32.96K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$9.53K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$4.94K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$20.96K	USD	2 Qtrs
Advertising and marketing	`MarketingAndAdvertisingExpense`	$12.90K	USD	2 Qtrs
Bank charges	`BankServiceCharge`	$33.58K	USD	2 Qtrs
Bank charges	`BankServiceCharge`	$22.58K	USD	1 Quarter
Bank charges	`BankServiceCharge`	$17.46K	USD	1 Quarter
Bank charges	`BankServiceCharge`	$40.65K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$83.72K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$159.96K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$68.60K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$52.51K	USD	1 Quarter
Bad debt	`ProvisionForDoubtfulAccounts`	$227.00	USD	1 Quarter
Bad debt	`ProvisionForDoubtfulAccounts`	$341.00	USD	1 Quarter
Bad debt	`ProvisionForDoubtfulAccounts`	$227.00	USD	2 Qtrs
Bad debt	`ProvisionForDoubtfulAccounts`	$1.93K	USD	2 Qtrs
Operating Expenses, Total	`OperatingExpenses`	$192.50K	USD	2 Qtrs
Operating Expenses, Total	`OperatingExpenses`	$282.47K	USD	2 Qtrs
Operating Expenses, Total	`OperatingExpenses`	$134.01K	USD	1 Quarter
Operating Expenses, Total	`OperatingExpenses`	$106.56K	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$-3.37K	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$26.75K	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$154.67K	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$46.83K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.18K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$586.00	USD	1 Quarter
Interest expense	`InterestExpense`	$105.95K	USD	2 Qtrs
Interest expense	`InterestExpense`	$45.27K	USD	1 Quarter
Interest expense	`InterestExpense`	$83.11K	USD	2 Qtrs
Interest expense	`InterestExpense`	$51.85K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-51.85K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-81.92K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-105.95K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-44.68K	USD	1 Quarter
Net (loss) Income	`NetIncomeLoss`	$72.75K	USD	2 Qtrs
Net (loss) Income	`NetIncomeLoss`	$2.15K	USD	1 Quarter
Net (loss) Income	`NetIncomeLoss`	$-79.20K	USD	2 Qtrs
Net (loss) Income	`NetIncomeLoss`	$-55.23K	USD	1 Quarter
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	30.92M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	31.14M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	29.85M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	29.85M	shares	2 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net (loss) Income	`NetIncomeLoss`	$72.75K	USD	2 Qtrs
Net (loss) Income	`NetIncomeLoss`	$2.15K	USD	1 Quarter
Net (loss) Income	`NetIncomeLoss`	$-79.20K	USD	2 Qtrs
Net (loss) Income	`NetIncomeLoss`	$-55.23K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$25.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$55.56K	USD	2 Qtrs
Depreciation	`Depreciation`	$8.04K	USD	2 Qtrs
Depreciation	`Depreciation`	$7.89K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.72K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.84K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.45K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.66K	USD	2 Qtrs
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$11.31K	USD	2 Qtrs
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$6.09K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-257.00	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-63.86K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-36.08K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$62.42K	USD	2 Qtrs
Payment of advances from shareholders/related parties	`RepaymentsOfRelatedPartyDebt`	$18.30K	USD	2 Qtrs
Payments on line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-6.77K	USD	2 Qtrs
Payments on line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-6.25K	USD	2 Qtrs
Short-term or long-term borrowings	`ProceedsFromIssuanceOfDebt`	$79.80K	USD	2 Qtrs
Repayments of debt	`RepaymentsOfDebt`	$109.97K	USD	2 Qtrs
Repayments of debt	`RepaymentsOfDebt`	$83.15K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.60K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-135.05K	USD	2 Qtrs
Net Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-45.68K	USD	2 Qtrs
Net Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-72.63K	USD	2 Qtrs
Cash at Beginning of Period	`Cash`	$111.66K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$39.03K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$34.58K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$80.26K	USD	Point-in-time
Cash at End of Period	`Cash`	$111.66K	USD	Point-in-time
Cash at End of Period	`Cash`	$39.03K	USD	Point-in-time
Cash at End of Period	`Cash`	$34.58K	USD	Point-in-time
Cash at End of Period	`Cash`	$80.26K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$68.68K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$87.44K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs

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