$AFJK
Aimei Health Technology Co., Ltd.

2024 Q1 Form 10-K Financial Statement

#000149315224011146 Filed on March 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $153.6K
YoY Change
Operating Profit
YoY Change
Interest Expense $909.1K
YoY Change
% of Operating Profit
Other Income/Expense, Net $909.1K
YoY Change
Pretax Income $755.5K
YoY Change
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $755.5K -$3.618K
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.08
COMMON SHARES
Basic Shares Outstanding 9.026M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $413.8K
YoY Change
Cash & Equivalents $413.7K $580.7K
Short-Term Investments
Other Short-Term Assets $66.67K
YoY Change
Inventory
Prepaid Expenses $66.67K
Receivables
Other Receivables
Total Short-Term Assets $480.7K $580.7K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $70.80M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $70.80M $69.89M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $480.7K $580.7K
Total Long-Term Assets $70.80M $69.89M
Total Assets $71.28M $70.47M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $78.47K $24.84K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $78.47K $24.84K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $690.0K
YoY Change
Total Long-Term Liabilities $690.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $78.47K $24.84K
Total Long-Term Liabilities $690.0K
Total Liabilities $768.5K $714.8K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$288.0K -$134.3K
YoY Change
Common Stock $213.00 $213.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$287.8K -$134.1K
YoY Change
Total Liabilities & Shareholders Equity $71.28M $70.47M
YoY Change

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q2
OPERATING ACTIVITIES
Net Income $755.5K -$3.618K
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$167.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities -$167.0K
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash -$167.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$167.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
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CY2023Q4 us-gaap Commitments And Contingencies
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us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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dei Document Type
DocumentType
10-K
dei Document Annual Report
DocumentAnnualReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Address Address Line1
EntityAddressAddressLine1
10 East 53rd Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 3001
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10022
dei City Area Code
CityAreaCode
212
dei Local Phone Number
LocalPhoneNumber
845-9945
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
dei Entity Shell Company
EntityShellCompany
true
CY2023Q2 dei Entity Public Float
EntityPublicFloat
0 usd
CY2024Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9026000 shares
dei Auditor Firm
AuditorFirmId
206
dei Auditor Name
AuditorName
MaloneBailey, LLP
dei Auditor Location
AuditorLocation
Houston, Texas
CY2023Q4 us-gaap Cash
Cash
580717 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
580717 usd
CY2023Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
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CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
24841 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
24841 usd
CY2023Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
690000 usd
CY2023Q4 us-gaap Liabilities
Liabilities
714841 usd
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
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CY2023Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
6900000 shares
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
6900000 shares
CY2023Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.13
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
69889848 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
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2126000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2126000 shares
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6900000 shares
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
213 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-134337 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-134124 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
70470565 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
28459 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-28459 usd
us-gaap Investment Income Dividend
InvestmentIncomeDividend
199848 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
199848 usd
us-gaap Net Income Loss
NetIncomeLoss
171389 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2233770 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2233770 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
25000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
69000000 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
3320000 usd
AFJK Adjustments To Additional Paid In Capital Offering Costs
AdjustmentsToAdditionalPaidInCapitalOfferingCosts
-2070665 usd
AFJK Adjustments To Additional Paid In Capital Deferred Underwriting Costs
AdjustmentsToAdditionalPaidInCapitalDeferredUnderwritingCosts
-690000 usd
AFJK Common Shares Subject To Redemption
CommonSharesSubjectToRedemption
-69690000 usd
AFJK Remeasurement Of Common Stock Subject To Possible Redemption
RemeasurementOfCommonStockSubjectToPossibleRedemption
-199848 usd
us-gaap Net Income Loss
NetIncomeLoss
171389 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-134124 usd
us-gaap Net Income Loss
NetIncomeLoss
171389 usd
us-gaap Investment Income Dividend
InvestmentIncomeDividend
199848 usd
AFJK Formation And Operating Costs Paid By Sponsor
FormationAndOperatingCostsPaidBySponsor
3618 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
24841 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
69690000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-69690000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000 usd
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
69000000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
3320000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
206533 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2070665 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
210151 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
70270717 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
580717 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
580717 usd
AFJK Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
690000 usd
AFJK Value Of Ordinary Shares Subject To Possible Redemption
ValueOfOrdinarySharesSubjectToPossibleRedemption
69690000 usd
AFJK Subsequent Remeasurement To Redemption Value Interest Income
SubsequentRemeasurementToRedemptionValueInterestIncome
199848 usd
AFJK Issuance Of Representative Share
IssuanceOfRepresentativeShare
7 usd
AFJK Accretion Of Additional Paid In Capital To Accumulated Deficit
AccretionOfAdditionalPaidInCapitalToAccumulatedDeficit
105878 usd
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2023-04-27
AFJK Business Combination Description
BusinessCombinationDescription
If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than five business days thereafter, redeem 100% of the outstanding public shares which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining holders of ordinary shares and our board of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution of the company, subject (in the case of (ii) and (iii) above) to its obligations to provide for claims of creditors and the requirements of applicable law
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10.00
CY2023Q4 us-gaap Share Price
SharePrice
10.10
CY2023Q4 us-gaap Cash
Cash
580717 usd
CY2023Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
69889848 usd
CY2023Q4 AFJK Working Capital
WorkingCapital
555876 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
10000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zOTopqFRmNe5" 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"><b><span id="xdx_864_zGVmhdioJuRc">Use of estimates</span></b></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; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</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; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Cash
Cash
580717 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
69889848 usd
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6900000 shares
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
5000001 usd
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6900000 shares
us-gaap Net Income Loss
NetIncomeLoss
171389 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2233770 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2233770 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zHmoeF08gVbf" 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"><b><span id="xdx_867_ze1qQlB6jidj">Concentration of credit risk</span></b></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; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_c20231231_zV5HEcQA9JP8" title="FDIC insured amount">250,000</span>. As of December 31, 2023, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. As of December 31, 2023, $<span id="xdx_901_eus-gaap--CashUninsuredAmount_iI_c20231231_zRifZwvWvr1f" title="FDIC uninsured amount">330,717</span> was not insured.</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; text-indent: 15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
330717 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
25000 usd
CY2023Q3 us-gaap Cash
Cash
25000 usd
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2126000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2126000 shares
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6900000 shares

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