Executive Summary

FDOC (now Charging Robotics Inc.) reported Q1 2023 as a pre-revenue shell ahead of closing its reverse merger; revenue was $0, net loss was $38,202 (basic/diluted EPS $0.00) as professional fees rose in preparation for the acquisition .
On April 7, 2023 (post quarter), FDOC closed the acquisition of Charging Robotics Ltd., issuing 921,750,000 shares; this transforms FDOC into an EV wireless charging robotics company and represents the key catalyst for stock narrative shift .
Liquidity was tight at quarter-end: cash was $3,159 and working capital was $13,718, with substantial doubt noted about going concern; a $500k private placement closed on April 6, 2023 to bolster cash .
Strategy centers on an autonomous, wireless EV charging robot for B2B parking markets; management positions the approach as differentiated: “the only company who aims to solve EV wireless charging challenges by developing an autonomous robot that is not attached to any cable” .

What Went Well and What Went Wrong

What Went Well

Acquisition closed (April 7, 2023), making Charging Robotics a wholly-owned subsidiary; FDOC issued 921,750,000 shares to sellers, and subsequently reconstituted board/management—clear strategic pivot to EV charging robotics .
Financing support: $500,000 raised via private placement on April 6, 2023 to fund development and operations, improving near-term liquidity profile .
Clear product vision and positioning: “We aim to become world’s first wireless charging solution that is set on an autonomous robot for seamless charging experience,” highlighting B2B go-to-market priorities and niche use cases (e.g., accessibility/handicap) .

What Went Wrong

No revenue in Q1 2023 and growing operating costs; net loss widened to $38,202 as professional fees increased with acquisition activities .
Going-concern uncertainty: filings explicitly flag substantial doubt about the company’s ability to continue as a going concern absent additional capital .
Internal control weaknesses: management concluded disclosure controls and procedures were ineffective due to limited resources and segregation of duties—raising execution risk as reporting complexity increases post-merger .

Financial Results

Note: Q1 2023 reflects the legacy FDOC shell pre-close; prior quarters were also pre-merger. Post-close business model is Charging Robotics Ltd. (development-stage).

Metric	Q2 2022	Q3 2022	Q1 2023
Revenue ($)	$0	$0	$0
Total Operating Expenses ($)	$14,151	$37,102	$38,827
Net Loss ($)	$(14,205)	$(37,102)	$(38,202)
Basic/Diluted EPS ($)	$(0.00)	$(0.00)	$(0.00)

KPIs and Balance Sheet Snapshot

KPI	Q2 2022	Q3 2022	Q1 2023
Cash ($)	$73,176	$108,950	$3,159
Working Capital ($)	$(44,348)	$(81,450)	$13,718
Shares Outstanding (End of Period)	256,739,363	256,739,363	314,406,030

Charging Robotics (Target) — FY 2022 Operating Baseline (Context for post-merger)

Metric (FY 2022)	Amount
R&D Expense ($)	$595,000
G&A Expense ($)	$173,000
Net Comprehensive Loss ($)	$833,000
Cash at 12/31/22 ($)	$27,000

Guidance Changes

No formal quantitative guidance was provided for Q1 2023 or subsequently during the quarter/end-period filings.

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY/Qtr not specified	—	—	No formal guidance provided
Margins/OpEx/Tax/OI&E	FY/Qtr not specified	—	—	No formal guidance provided

Earnings Call Themes & Trends

No earnings call transcript was filed for Q1 2023. Thematically, disclosures point to the following:

Topic	Previous Mentions (Q2–Q3 2022)	Current Period (Q1 2023)	Trend
Technology/AI/Robotics	Shell company; no operating tech disclosures pre-merger	Autonomous wireless EV charging robot concept and platform explained; proof-of-concept referenced	Uptrend in product/tech specificity post-merger news
Supply chain/components	Not highlighted	Risk of component scarcity, limited suppliers, and potential delays flagged	Heightened risk awareness
Macro/regulatory	Not highlighted	U.S. infrastructure funding cited as tailwind for charging buildout	Supportive external driver
R&D execution	Not applicable pre-merger	R&D intensity and costs central to plan; FY22 R&D $595k	Increasing investment needs
Competitive positioning	Not applicable pre-merger	Claims of unique autonomous wireless robot vs. pad-based rivals	Differentiation narrative established
Controls/Compliance	Shell noted weaknesses	Material weaknesses in disclosure controls continue due to small team	Persistent execution risk

Management Commentary

“We aim to become world’s first wireless charging solution that is set on an autonomous robot for seamless charging experience.”
“The robotic platform is small enough to fit under the vehicle, it automatically positions itself for maximum efficiency charging and returns to its docking station at the end of the charging operation.”
“To the best of our knowledge, we are the only company who aims to solve EV wireless charging challenges by developing an autonomous robot that is not attached to any cable.”
Go-to-market: focus on B2B public parking lots; expand to private mass markets and niche accessibility use cases; pursue partnerships/JVs with charging infra and OEMs .

Q&A Highlights

No Q1 2023 earnings call transcript was filed; therefore, no Q&A themes, guidance clarifications, or tone comparisons are available [ListDocuments result showed none].

Estimates Context

Wall Street consensus (S&P Global) for Q1 2023 EPS and revenue was unavailable for FDOC due to missing S&P Capital IQ mapping; thus, no estimate comparison is possible at this time. Values retrieved from S&P Global were unavailable.

Key Takeaways for Investors

Structural pivot complete: post-quarter, FDOC closed the acquisition of Charging Robotics, shifting from shell to development-stage EV charging robotics—this is the central thesis transition and likely the primary stock narrative catalyst .
Early-stage, pre-revenue profile with limited cash at Q1-end ($3,159) and explicit going-concern risk; April 6 financing ($500k) provides near-term runway but continued capital raises are likely as R&D and commercialization efforts scale .
Differentiated approach: autonomous, wireless, mobile robot vs. fixed pad-based wireless charging—if execution succeeds, B2B parking deployments and accessibility niches could unlock adoption .
Execution and reporting risk: material weaknesses in controls and a small team elevate operational risk during the scale-up and public-company reporting phase .
Operating expense trend pre-merger: growing professional fees drove higher quarterly losses through Q1 2023; post-merger, expect R&D and go-to-market costs to be the main loss drivers as the company pursues pilots/partnerships .
Post-close housekeeping and branding changes (later name change/reverse split implemented in 2024) help align corporate identity with new strategy, but do not alter near-term funding and execution needs .

Additional Context and Cross-References

FDOC Q1 2023 10-Q (filed May 15, 2023): zero revenue; net loss $38,202; cash $3,159; working capital $13,718; material weaknesses in disclosure controls .
8-K (April 17, 2023): completion of acquisition (April 7); MD&A for Charging Robotics; raised $500,000 on April 6; FY22 R&D $595k and net comprehensive loss $833k underscore development-stage baseline .
Preceding quarters show no revenue and rising expenses tied to deal activity: Q2 2022 net loss $(14,205); Q3 2022 net loss $(37,102); both with $0 revenue .

Notes:

No earnings press release or call transcript specific to Q1 2023 could be located in the document catalog; Item 2.02 MD&A was embedded in the April 17, 2023 8-K filing instead .
The two “prior quarters” available as standalone quarterlies were Q2 2022 and Q3 2022; Q4 2022 data is within the FY 2022 10-K and not available as a separate quarterly breakdown .

Charging Robotics Inc. (FDOC)·Q1 2023 Earnings Summary