Zhuoxun Hongtu Inc.

2024 Q2 Form 10-Q Financial Statement

#000121390024048266 Filed on May 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2022 Q4 2022 Q3

Balance Sheet

Concept 2024 Q2 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $188.3K $841.7K
Short-Term Investments
Other Short-Term Assets $8.012K $25.93K
YoY Change -98.85% 5025.1%
Inventory $13.00 $91.00
Prepaid Expenses $528.4K $452.4K
Receivables
Other Receivables $140.7K
Total Short-Term Assets $807.5K $1.484M
YoY Change -70.99% -62.35%
LONG-TERM ASSETS
Property, Plant & Equipment $121.6K $145.8K
YoY Change -44.2% -32.94%
Goodwill
YoY Change
Intangibles $54.43K $56.79K
YoY Change -22.4%
Long-Term Investments
YoY Change
Other Assets $46.50K $80.59K
YoY Change -98.19% -89.91%
Total Long-Term Assets $418.2K $568.5K
YoY Change -85.37% -81.12%
TOTAL ASSETS
Total Short-Term Assets $807.5K $1.484M
Total Long-Term Assets $418.2K $568.5K
Total Assets $1.226M $2.053M
YoY Change -78.28% -70.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.323M $2.259M
YoY Change -0.96% -4.65%
Accrued Expenses $3.805M $3.435M
YoY Change 341.54% 307.32%
Deferred Revenue $137.5K $340.3K
YoY Change 99.7%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.30M $12.77M
YoY Change 41.45% 37.05%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $40.24K $154.7K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $13.30M $12.77M
Total Long-Term Liabilities $40.24K $154.7K
Total Liabilities $13.34M $12.92M
YoY Change 41.89% 38.71%
SHAREHOLDERS EQUITY
Retained Earnings -$12.96M -$12.08M
YoY Change 363.23%
Common Stock $41.06K $41.06K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $1.226M $2.053M
YoY Change -78.28% -70.48%

Cashflow Statement

Concept 2024 Q2 2022 Q4 2022 Q3

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
410618750 shares
CY2022 gshn Inventory Chargeoffs
InventoryChargeoffs
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CY2022Q4 dei Document Type
DocumentType
10-Q
CY2022Q4 dei Document Period End Date
DocumentPeriodEndDate
2022-12-31
CY2022Q4 dei Document Transition Report
DocumentTransitionReport
false
CY2022Q4 dei Entity File Number
EntityFileNumber
000-55666
CY2022Q4 dei Entity Registrant Name
EntityRegistrantName
Gushen, Inc.
CY2022Q4 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2022Q4 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-3413138
CY2022Q4 dei Entity Address Address Line1
EntityAddressAddressLine1
Room 1312-13, 14th Floor
CY2022Q4 dei Entity Address Address Line2
EntityAddressAddressLine2
Building No. 2
CY2022Q4 dei Entity Address Address Line3
EntityAddressAddressLine3
1 Hangfeng Road
CY2022Q4 dei Entity Address City Or Town
EntityAddressCityOrTown
Beijing
CY2022Q4 dei Entity Address Country
EntityAddressCountry
CN
CY2022Q4 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
100070
CY2022Q4 dei Security12b Title
Security12bTitle
None
CY2022Q4 dei No Trading Symbol Flag
NoTradingSymbolFlag
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CY2022Q4 dei Entity Current Reporting Status
EntityCurrentReportingStatus
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CY2022Q4 dei Entity Interactive Data Current
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CY2022Q4 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2022Q4 dei Entity Small Business
EntitySmallBusiness
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CY2022Q4 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
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CY2022Q4 dei Entity Shell Company
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CY2024Q2 dei Entity Common Stock Shares Outstanding
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CY2022Q4 us-gaap Increase Decrease In Due From Related Parties
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CY2021Q4 us-gaap Increase Decrease In Due From Related Parties
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of these unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires management of the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Company’s most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its unaudited interim condensed consolidated financial statements.</p>
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Revenues
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Revenues
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CY2022Q4 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Credit risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents. As of December 31, 2022 and September 30, 2022, substantially all of the Company’s cash and cash equivalents were held by major financial institutions located in the PRC, which management believes are of high credit quality.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the credit risk related to trade accounts receivable, the Company performs ongoing credit evaluations of its customers and, if necessary, maintains reserves for potential credit losses. Historically, such losses have been within management’s expectations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Concentrations</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three months ended December 31, 2022 and 2021, no single customer accounted for more than 10% of total revenue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three months ended December 31, 2022, The Company has no purchases for this quarter. For the three months ended December 31, 2021, two suppliers accounted for 69%, 23% of the Company’s total purchases, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, one supplier accounted for 10% of the Company’s total accounts payable balance. As of September 30, 2022, one supplier accounted for 10% of the Company’s total accounts payable balance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Financial Statement Reclassification</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain balances in the prior year unaudited interim condensed consolidated financial statements have been reclassified for comparison purposes to conform to the presentation in the current year unaudited interim condensed consolidated financial statements. These reclassifications had no effect on the reported results of operations or financial position.</p>
CY2022Q4 gshn Prepaid Marketing Fee
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CY2022Q3 us-gaap Operating Lease Right Of Use Asset
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CY2022Q3 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2022Q4 gshn Value Added Tax Payable
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CY2022Q4 us-gaap Taxes Payable Current
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CY2022Q4 us-gaap Proceeds From Contributed Capital
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CY2021Q4 us-gaap Proceeds From Contributed Capital
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CY2022Q4 ecd Non Rule10b51 Arr Trmntd Flag
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CY2022Q4 ecd Rule10b51 Arr Trmntd Flag
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CY2022Q4 ecd Non Rule10b51 Arr Adopted Flag
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CY2022Q4 ecd Rule10b51 Arr Adopted Flag
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CY2022Q4 us-gaap Commitments And Contingencies
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CY2022Q4 us-gaap Earnings Per Share Diluted
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CY2022Q4 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q4 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q4 gshn Inventory Additions
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CY2022Q4 dei Amendment Flag
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CY2022Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2022Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q4 dei Entity Central Index Key
EntityCentralIndexKey
0001639327

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