JLM Couture : Unaudited Annual Report- October 31, 2021

JLM Couture, Inc and Subsidiaries

Unaudited Consolidated Financial Report October 31, 2021

UNAUDITED

Contents _________________________________________

Summary: ___________________________________________________

UNAUDITED

Unaudited Financial Statements

Consolidated Balance sheet 1

Consolidated statements of operations 2

Consolidated statements of shareholders' equity 3

Consolidated statements of cash flow 4

Notes to consolidated financial statements 5 ____________________________________________________

JLM Couture, Inc and Subsidiaries
Unaudited Consolidated Balance Sheet
October 31, 2021 Year End
Assets
Current assets :
Cash	2,620,904
Accounts receivable, less allowance for uncollectible amounts	2,966,478
Inventories	2,411,134
Prepaid income taxes	-
Prepaid expenses and other current assets	752,642
Total current assets	8,751,159
Equipment and leasehold improvements, net	486,264
Samples, net of accumulated depreciation	419,894
Deferred income taxes	452,779
Other assets	1,019,038
Total assets	11,129,133
Liability and Shareholders' Equity
Current Liabilities:
Accounts payable	1,773,121
Line of credit	307,494
Current portion of long term debt	-
Accrued expenses and other current liabilities	285,437
Customer deposits	332,688
Total current liabilities	2,698,741
Non current liabilities:
Long Term debt, net of current portion	934,564
Deferred rent	195,305
Total liabilities	3,828,610
Commitments and contingencies
Shareholder Equity:
Preferred Stock
Common stock	696
Additional paid-in capital	4,447,544
Retained earnings	5,852,271
10,300,511
Less:
Notes receivables and accrued interest	(4,210)
Treasury stock	(2,995,777)
Total shareholders' equity	7,300,523
Total liabilities and shareholders' equity	11,129,133
-
JLM COUTURE, INC & SUBSIDIARIES
OCTOBER 31, 2021- UNAUDITED REPORT

2021

JLM Couture, Inc. and Subsidiaries
Unaudited Consolidated Statements of Operations
October 31, 2021 Year End
2021
Net Sales	12,379,951
Cost of goods sold	7,935,087
Gross profit	4,444,864
Selling, general and administrative expenses	8,411,179
Operating Loss	(3,966,315)
Other expense (income)
Interest expense	28,829
Other Income	(1,989,429)
Total other expense	(1,960,601)
Loss before income tax	(2,005,715)
Income tax benefits	(352,000)
Net Losses	(1,653,715)

JLM Couture, Inc and Subsidiaries

Unaudited Consolidated Statements of Shareholders' Equity October 31, 2021 Year End

SharesCommon StockAmount

Additional Paid-in CapitalRetained EarningsNotes Receivable and Accrued InterestSharesBalance, November 1, 2019 Net Loss

Shared Based Compensation Repurchase of shares Balance, October 31, 2020 Net Loss

Share Based Compensation Repurchase of shares Balance, October 31, 2021

- 2,534,480.00

- - - 2,534,480.00

2,534,480.00 -

UNAUDITED

Treasury StockAmount

Total Shareholders' Equity

559.00 -4,418,432.00 - 29,112.00

8,349,241.00 (843,255.00)

(4,210.00)

-(1,016,276.00)

(2,968,963.00)

-9,795,059.00 (843,255.00)

(7,000.00)

(26,814.00)

29,112.00 (26,814.00)

559.00

4,447,544.00

7,505,986.00

(4,210.00)

(1,023,276.00)

(2,995,777.00)

8,954,102.00

(1,653,714.50)

- - -

(1,653,714.50)

- 559.00

- -

4,447,544.00

5,852,271.50

(4,210.00)

(1,023,276.00)

(2,995,777.00)

7,300,387.50