10-Q/A Filing

MK AUTOMOTIVE, INC. CIK: 1486452 Q3 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-12-010460`
Period End Date	20111231
Filing Date	20120223
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	mkaue-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 64 Cash Flow Statement 48

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
Common stock, shares issued	`CommonStockSharesIssued`	30.41M	shares	Point-in-time
Cash	`Cash`	$53.50K	USD	Point-in-time
Cash	`Cash`	$24.07K	USD	Point-in-time
Cash	`Cash`	$111.66K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.01M	shares	Point-in-time
Cash	`Cash`	$80.26K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$56.91K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$196.67K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.01M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.54K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.83K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$139.01K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$225.28K	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`	$235.35K	USD	Point-in-time
Land, Buildings, Furniture, Fixtures and Equipment, Net, Total	`LandBuildingsFurnitureFixturesAndEquipmentNet`	$415.07K	USD	Point-in-time
Land, Buildings, Furniture, Fixtures and Equipment, Net, Total	`LandBuildingsFurnitureFixturesAndEquipmentNet`	$403.35K	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`	$1.32M	USD	Point-in-time
Notes Receivable	`NotesAndLoansReceivableNetNoncurrent`	$76.18K	USD	Point-in-time
Notes Receivable	`NotesAndLoansReceivableNetNoncurrent`	$37.82K	USD	Point-in-time
Goodwill	`Goodwill`	$1.22M	USD	Point-in-time
Goodwill	`Goodwill`	$1.22M	USD	Point-in-time
Total Assets	`Assets`	$2.73M	USD	Point-in-time
Total Assets	`Assets`	$2.84M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$227.14K	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`	$120.55K	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`	$87.29K	USD	Point-in-time
Payable to Related Party	`DueToRelatedPartiesCurrent`	$446.56K	USD	Point-in-time
Payable to Related Party	`DueToRelatedPartiesCurrent`	$220.86K	USD	Point-in-time
Current portion of long-term debt - third party	`LongTermDebtCurrent`	$612.14K	USD	Point-in-time
Current portion of long-term debt - third party	`LongTermDebtCurrent`	$138.18K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.02M	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`	$1.19M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.19M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.23M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.64M	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized; 38,014,672 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; 38,014,672 and 30,414,145 shares issued and outstanding	`CommonStockValue`	$38.02K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.12M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$89.95K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$637.84K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.73M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.84M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$3.43M	USD	3 Qtrs
Net Sales	`SalesRevenueNet`	$2.93M	USD	3 Qtrs
Net Sales	`SalesRevenueNet`	$1.05M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$1.04M	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$2.47M	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$2.93M	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$980.81K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$807.65K	USD	1 Quarter
Gross Profit	`GrossProfit`	$498.32K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$61.18K	USD	1 Quarter
Gross Profit	`GrossProfit`	$238.67K	USD	1 Quarter
Gross Profit	`GrossProfit`	$457.93K	USD	3 Qtrs
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$94.10K	USD	3 Qtrs
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$88.81K	USD	3 Qtrs
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$32.02K	USD	1 Quarter
Salaries, wages, and employee benefits	`LaborAndRelatedExpense`	$29.83K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$34.16K	USD	3 Qtrs
Advertising and marketing	`MarketingAndAdvertisingExpense`	$13.30K	USD	3 Qtrs
Advertising and marketing	`MarketingAndAdvertisingExpense`	$400.00	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$13.20K	USD	1 Quarter
Bank charges	`BankServiceCharge`	$59.55K	USD	3 Qtrs
Bank charges	`BankServiceCharge`	$16.06K	USD	1 Quarter
Bank charges	`BankServiceCharge`	$49.64K	USD	3 Qtrs
Bank charges	`BankServiceCharge`	$18.90K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$22.74K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$37.08K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$120.80K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$182.69K	USD	3 Qtrs
Bad debt	`ProvisionForDoubtfulAccounts`	$5.79K	USD	1 Quarter
Bad debt	`ProvisionForDoubtfulAccounts`	$13.55K	USD	1 Quarter
Bad debt	`ProvisionForDoubtfulAccounts`	$13.78K	USD	3 Qtrs
Bad debt	`ProvisionForDoubtfulAccounts`	$7.72K	USD	3 Qtrs
Operating Expenses, Total	`OperatingExpenses`	$291.62K	USD	3 Qtrs
Operating Expenses, Total	`OperatingExpenses`	$90.46K	USD	1 Quarter
Operating Expenses, Total	`OperatingExpenses`	$99.11K	USD	1 Quarter
Operating Expenses, Total	`OperatingExpenses`	$372.93K	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$166.31K	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$-29.28K	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$125.39K	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$139.56K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$239.38K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$239.38K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$577.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.76K	USD	3 Qtrs
Interest expense	`InterestExpense`	$36.88K	USD	1 Quarter
Interest expense	`InterestExpense`	$142.83K	USD	3 Qtrs
Interest expense	`InterestExpense`	$49.69K	USD	1 Quarter
Interest expense	`InterestExpense`	$132.80K	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$202.50K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-49.11K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-131.04K	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$96.55K	USD	3 Qtrs
Net (loss) Income	`NetIncomeLoss`	$262.86K	USD	3 Qtrs
Net (loss) Income	`NetIncomeLoss`	$342.06K	USD	1 Quarter
Net (loss) Income	`NetIncomeLoss`	$-5.65K	USD	3 Qtrs
Net (loss) Income	`NetIncomeLoss`	$-78.39K	USD	1 Quarter
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	3 Qtrs
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted earning per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	29.85M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	29.85M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	31.31M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	31.05M	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net (loss) Income	`NetIncomeLoss`	$262.86K	USD	3 Qtrs
Net (loss) Income	`NetIncomeLoss`	$342.06K	USD	1 Quarter
Net (loss) Income	`NetIncomeLoss`	$-5.65K	USD	3 Qtrs
Net (loss) Income	`NetIncomeLoss`	$-78.39K	USD	1 Quarter
Gain on extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	$239.38K	USD	1 Quarter
Gain on extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	$239.38K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$40.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$55.56K	USD	3 Qtrs
Notes Receivable (see Note 7)	`OtherNoncashIncomeExpense`	$40.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$11.96K	USD	3 Qtrs
Depreciation	`Depreciation`	$11.72K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.80K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$139.75K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.71K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$12.85K	USD	3 Qtrs
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$28.90K	USD	3 Qtrs
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$66.75K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$81.57K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-46.63K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.20K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$64.35K	USD	3 Qtrs
Collection of note receivable	`ProceedsFromCollectionOfNotesReceivable`	$1.64K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.64K	USD	3 Qtrs
Payment of advances from shareholders/related parties	`RepaymentsOfRelatedPartyDebt`	$19.80K	USD	3 Qtrs
Proceeds of shareholder loans	`ProceedsFromRelatedPartyDebt`	$30.00K	USD	3 Qtrs
Proceeds of shareholder loans	`ProceedsFromRelatedPartyDebt`	$225.70K	USD	3 Qtrs
Payments on line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-5.57K	USD	3 Qtrs
Payments on line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-16.35K	USD	3 Qtrs
Short-term or long-term borrowings	`ProceedsFromIssuanceOfDebt`	$86.84K	USD	3 Qtrs
Repayments of debt	`RepaymentsOfDebt`	$357.23K	USD	3 Qtrs
Repayments of debt	`RepaymentsOfDebt`	$127.14K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-122.51K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-61.04K	USD	3 Qtrs
Net Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-56.20K	USD	3 Qtrs
Net Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-58.16K	USD	3 Qtrs
Cash at Beginning of Period	`Cash`	$53.50K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$24.07K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$111.66K	USD	Point-in-time
Cash at Beginning of Period	`Cash`	$80.26K	USD	Point-in-time
Cash at End of Period	`Cash`	$53.50K	USD	Point-in-time
Cash at End of Period	`Cash`	$24.07K	USD	Point-in-time
Cash at End of Period	`Cash`	$111.66K	USD	Point-in-time
Cash at End of Period	`Cash`	$80.26K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$124.88K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	$115.11K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Common stock issued for accrued interest	`StockIssued1`	$245.02K	USD	3 Qtrs

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