2023 Q3 Form 10-Q Financial Statement
#000182912623004734 Filed on July 17, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $167.0K | ||
YoY Change | |||
Cash & Equivalents | $167.0K | $100.1K | |
Short-Term Investments | |||
Other Short-Term Assets | $56.29K | ||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $0.00 | ||
Other Receivables | $30.00K | ||
Total Short-Term Assets | $253.3K | ||
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $969.7K | ||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $1.729M | ||
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $253.3K | ||
Total Long-Term Assets | $1.729M | ||
Total Assets | $1.982M | ||
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $588.1K | ||
YoY Change | |||
Accrued Expenses | $118.3K | ||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $442.4K | ||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $5.282M | ||
YoY Change | |||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | $88.22K | ||
YoY Change | |||
Total Long-Term Liabilities | $88.22K | ||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $5.282M | ||
Total Long-Term Liabilities | $88.22K | ||
Total Liabilities | $5.370M | ||
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$13.12M | ||
YoY Change | |||
Common Stock | $181.4K | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$3.388M | -$809.6K | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.982M | ||
YoY Change |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001439237 | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--08-31 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2023Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
usd | |
CY2022Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
usd | |
CY2022Q2 | QOEG |
Effect On Vie Termination
EffectOnVieTermination
|
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Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
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Capital In Excess Of Par Value
CapitalInExcessOfParValue
|
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Capital In Excess Of Par Value
CapitalInExcessOfParValue
|
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Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
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Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
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Depreciation And Amortization
DepreciationAndAmortization
|
usd | |
CY2022Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
usd | |
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Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
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Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
|
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Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
|
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Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
|
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | |
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Share Subscriptions
ShareSubscriptions
|
usd | |
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-05-31 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
000-54013 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
QUALITY ONLINE EDUCATION GROUP INC. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
42-1743717 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
Unit 1 | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
60 Riviera Dr. | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Markham | ||
dei |
Entity Address Country
EntityAddressCountry
|
CA | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
L3R 5M1 | ||
dei |
City Area Code
CityAreaCode
|
647 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
776 8618 | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
dei |
Entity Shell Company
EntityShellCompany
|
false | ||
CY2023Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
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Cash
Cash
|
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CY2023Q1 | us-gaap |
Cash
Cash
|
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CY2023Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
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Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
0 | usd |
CY2023Q2 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
30004 | usd |
CY2023Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
23600 | usd |
CY2023Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
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CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2023Q2 | us-gaap |
Assets Current
AssetsCurrent
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Assets Current
AssetsCurrent
|
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CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
759266 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
759266 | usd |
CY2023Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
969656 | usd |
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Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
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Assets
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Assets
Assets
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AccountsPayableCurrent
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Accounts Payable Current
AccountsPayableCurrent
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Receipt In Advance
ReceiptInAdvance
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Receipt In Advance
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Other Loans Payable
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Other Loans Payable
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Assets Acquisition Payable
AssetsAcquisitionPayable
|
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Assets Acquisition Payable
AssetsAcquisitionPayable
|
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Due To Related Party
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Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
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LiabilitiesCurrent
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Liabilities Current
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Accounts Payable Current And Noncurrent
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Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
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Liabilities
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Liabilities
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|
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Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
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Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
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Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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CY2023Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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Preferred Stock Shares Outstanding
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Preferred Stock Shares Outstanding
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Preferred Stock Value
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Preferred Stock Value
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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Common Stock Par Or Stated Value Per Share
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Common Stock Shares Issued
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Common Stock Other Shares Outstanding
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Common Stock Value
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Exchangeable Shares Par Value
ExchangeableSharesParValue
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Additional Paid In Capital
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Additional Paid In Capital
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Retained Earnings Accumulated Deficit
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Revenues
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Cost Of Revenue
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Cost Of Revenue
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Disposal Group Including Discontinued Operation Gross Profit Loss
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Financing Costs
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Sales Commissions And Fees
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Operating Leases Rent Expense Minimum Rentals
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LegalFees
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Net Income Loss
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Earnings Per Share Basic
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|
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|
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Earnings Per Share Diluted
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|
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StockholdersEquity
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|
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Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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Stockholders Equity
StockholdersEquity
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Stockholders Equity
StockholdersEquity
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Stock Issued During Period Value New Issues
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|
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Profit Loss
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Stockholders Equity
StockholdersEquity
|
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Net Income Loss
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|
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Net Income Loss
NetIncomeLoss
|
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Income Loss From Continuing Operations
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|
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CY2022Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
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CY2023Q2 | us-gaap |
Allocated Share Based Compensation Expense
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|
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CY2023Q2 | us-gaap |
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CY2022Q2 | us-gaap |
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CY2023Q2 | us-gaap |
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CY2023Q2 | us-gaap |
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CY2022Q2 | us-gaap |
Increase Decrease In Accounts Payable
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CY2023Q2 | us-gaap |
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CY2022Q2 | us-gaap |
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CY2022Q2 | us-gaap |
Increase Decrease In Customer Advances
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|
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|
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CY2022Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
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|
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CY2023Q2 | us-gaap |
Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
|
150473 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-150473 | usd |
CY2023Q2 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
21865 | usd |
CY2022Q2 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
2857 | usd |
CY2023Q2 | us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
-3603 | usd |
CY2022Q2 | us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
-611 | usd |
CY2023Q2 | QOEG |
Share Subscriptions
ShareSubscriptions
|
150000 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
168262 | usd |
CY2022Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2246 | usd |
CY2022Q2 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-29362 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-882 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-26640 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
167920 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
126715 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
167037 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
100075 | usd |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_801_eus-gaap--NatureOfOperations_zdPZkkZ7n6cb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span style="text-decoration: underline">NOTE 1 <span id="xdx_824_zsplaUuJo0Xk">NATURE OF BUSINESS</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quality Online Education Group Inc. (QOEG) is a leading E-learning company which provides comprehensive online lessons to students in different parts of the world. It locates in Toronto of Canada and has one wholly owned subsidiary company: Golden Bridge Human Resources Consulting Inc., an Ontario, Canada, based company provides tutoring services and courseware development services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are the pioneer and leader of providing real-time online small group classes. We deliver quality education to students and noticeable results from our passionate teachers and teaching assistants. With our Artificial Intelligent system, we combined Education and Entertainment (Edu-tertainment) in part of the learning. It is our mission to develop confidence in our students so they can reach their goals with happiness and efficiency! The main business scope of the Group includes K12 English Online education services, courseware development and Education-technology platform development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84F_eus-gaap--UseOfEstimates_zZj868HtMj96" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_z9INClUd8tRl">Use of Estimates</span>:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2020Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2020Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
39129789 | shares |
CY2020Q3 | QOEG |
Free Trading Shares Of Common Stock
FreeTradingSharesOfCommonStock
|
3581517 | shares |
CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
5000000000 | shares |