2024 Q1 Form 10-K Financial Statement

#000149315224014576 Filed on April 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024 2023 Q1
Revenue $0.00 $7.499K
YoY Change -44.86%
Cost Of Revenue $10.00 $771.00
YoY Change
Gross Profit -$10.00 $6.728K
YoY Change -50.53%
Gross Profit Margin 89.72%
Selling, General & Admin $261.8K $419.7K
YoY Change 735.65%
% of Gross Profit 6238.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.750K $6.986K
YoY Change 2124.84%
% of Gross Profit 103.83%
Operating Expenses $261.8K $419.7K
YoY Change 735.65%
Operating Profit -$261.8K -$413.0K
YoY Change 1027.54%
Interest Expense $40.00 $50.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $46.00
YoY Change
Pretax Income -$261.8K -$413.0K
YoY Change 1027.41%
Income Tax
% Of Pretax Income
Net Earnings -$261.8K -$413.0K
YoY Change 1027.41%
Net Earnings / Revenue -5507.01%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 30.00M shares 30.00M shares 30.00M shares
Diluted Shares Outstanding 30.00M shares

Balance Sheet

Concept 2024 Q1 2024 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $166.6K $166.6K
YoY Change 47485.71%
Cash & Equivalents $166.6K $166.6K $354.00
Short-Term Investments
Other Short-Term Assets $27.00K $27.00K
YoY Change
Inventory
Prepaid Expenses
Receivables $2.001K $2.000K
Other Receivables $27.00K $28.67K
Total Short-Term Assets $224.2K $224.2K $354.00
YoY Change 63239.27% 63962.86% -97.52%
LONG-TERM ASSETS
Property, Plant & Equipment $215.8K $755.7K $540.00
YoY Change 39857.41% 139848.15% -36.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $32.47K $32.47K
YoY Change
Total Long-Term Assets $788.2K $788.2K $540.00
YoY Change 145860.93% 145861.11% -36.77%
TOTAL ASSETS
Total Short-Term Assets $224.2K $224.2K $354.00
Total Long-Term Assets $788.2K $788.2K $540.00
Total Assets $1.012M $1.012M $894.00
YoY Change 113144.97% 113653.93% -94.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.84K $64.84K $901.00
YoY Change 7096.45% 7104.44%
Accrued Expenses $179.9K $179.9K $901.00
YoY Change 19863.37%
Deferred Revenue $2.800K
YoY Change -50.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $871.4K $871.5K $87.00K
YoY Change 901.65% 901.67% 34.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $554.1K $554.1K
YoY Change
Total Long-Term Liabilities $554.1K $554.1K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $871.4K $871.5K $87.00K
Total Long-Term Liabilities $554.1K $554.1K
Total Liabilities $1.426M $1.426M $87.00K
YoY Change 1538.58% 1538.6% 34.68%
SHAREHOLDERS EQUITY
Retained Earnings -$689.3K -$276.3K
YoY Change 149.45% 15.28%
Common Stock $30.00K $30.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$413.2K -$413.2K -$86.11K
YoY Change
Total Liabilities & Shareholders Equity $1.012M $1.012M $894.00
YoY Change 113144.97% 113653.93% -94.09%

Cashflow Statement

Concept 2024 Q1 2024 2023 Q1
OPERATING ACTIVITIES
Net Income -$261.8K -$413.0K
YoY Change 1027.41%
Depreciation, Depletion And Amortization $6.750K $6.986K
YoY Change 2124.84%
Cash From Operating Activities -$135.0K -$649.4K
YoY Change 1599.37%
INVESTING ACTIVITIES
Capital Expenditures $70.85K $224.3K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$70.85K -$224.2K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 247.7K $1.040M
YoY Change 4180.14%
NET CHANGE
Cash From Operating Activities -135.0K -$649.4K
Cash From Investing Activities -70.85K -$224.2K
Cash From Financing Activities 247.7K $1.040M
Net Change In Cash 41.81K $166.4K
YoY Change -1295.93%
FREE CASH FLOW
Cash From Operating Activities -$135.0K -$649.4K
Capital Expenditures $70.85K $224.3K
Free Cash Flow -$205.9K -$873.7K
YoY Change 2186.18%

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CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-216 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
354 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14269 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
166552 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
354 usd
CY2024 ACHN Repayment Of Related Party Debt
RepaymentOfRelatedPartyDebt
83300 usd
CY2024 ACHN Recognized Rou Assets Through Lease Liabilities
RecognizedRouAssetsThroughLeaseLiabilities
671373 usd
CY2024 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NY
CY2024 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-12-29
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_z6J3J3cIgVmi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_868_zrd2kQCRQRQh">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-689303 usd
CY2024Q1 ACHN Working Capital
WorkingCapital
-647227 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
223103 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
950 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7333 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
410 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
215770 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
540 usd
CY2024 us-gaap Depreciation
Depreciation
6986 usd
CY2023 us-gaap Depreciation
Depreciation
314 usd
CY2024Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
419229 usd
CY2024 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2026-10-19
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2800 usd
CY2024 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
Net operation losses (“NOLs”) can carry forward indefinitely up to offset 80% of taxable income after CARES Act effect on December 31, 2017
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
97000 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
69000 usd
CY2024 ACHN Effective Taxable Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveTaxableIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.165 pure
CY2008Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.25 pure
CY2008Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.25 pure
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-412971 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-36630 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.075 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.075 pure
CY2024 ACHN Effective Income Tax Rate Reconciliation At Prc Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtPRCStatutoryIncomeTaxRate
0.250 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.535 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.285 pure
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0 shares
CY2024Q1 ACHN Lessee Operating Lease Borrowing Rate
LesseeOperatingLeaseBorrowingRate
0.0475 pure
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
132517 usd
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
132517 usd
CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
356441 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
539946 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
314775 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
326168 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
326168 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11393 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
314775 usd

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