$ASFH
ASIAFIN HOLDINGS CORP.

2023 Q2 Form 10-Q Financial Statement

#000149315223018428 Filed on May 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $643.5K $474.8K $0.00
YoY Change
Cost Of Revenue $60.74K $53.66K $0.00
YoY Change
Gross Profit $582.7K $421.1K $0.00
YoY Change
Gross Profit Margin 90.56% 88.7%
Selling, General & Admin $629.9K $755.2K $58.71K
YoY Change 1389.68% 8620.09% 2074.44%
% of Gross Profit 108.1% 179.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.40K
YoY Change
% of Gross Profit 5.32%
Operating Expenses $629.9K $755.2K $53.79K
YoY Change 1389.68% 12239.22% 1907.09%
Operating Profit -$47.20K -$334.0K -$53.79K
YoY Change 11.62% 5357.84% 1907.09%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$38.99K -$334.0K -$53.79K
YoY Change 1.79% 5357.84% 1907.09%
Income Tax -$29.72K $2.860K
% Of Pretax Income
Net Earnings -$9.274K -$334.0K -$56.65K
YoY Change -75.79% 5147.76% 2013.81%
Net Earnings / Revenue -1.44% -70.35%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 81.55M shares 81.55M shares 73.32M shares
Diluted Shares Outstanding 81.55M shares 76.61M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.648M $1.580M
YoY Change 70.94% 55.51%
Cash & Equivalents $1.264M $1.648M $874.7K
Short-Term Investments
Other Short-Term Assets $639.7K $741.5K
YoY Change
Inventory
Prepaid Expenses $124.5K $90.41K $202.4K
Receivables $591.5K $463.8K $676.4K
Other Receivables $0.00
Total Short-Term Assets $2.270M $2.751M $877.7K
YoY Change 144.87% 185.05% -10.62%
LONG-TERM ASSETS
Property, Plant & Equipment $526.5K $572.2K $585.8K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $426.9K $8.660K
YoY Change
Other Assets $870.00 $870.00
YoY Change
Total Long-Term Assets $636.4K $693.4K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.270M $2.751M $877.7K
Total Long-Term Assets $636.4K $693.4K $0.00
Total Assets $2.906M $3.445M $877.7K
YoY Change 213.54% 256.89% -10.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $65.20K
YoY Change
Accrued Expenses $199.1K $311.1K $17.81K
YoY Change 7864.48% 12343.88% 137.4%
Deferred Revenue
YoY Change
Short-Term Debt $266.9K $285.4K
YoY Change
Long-Term Debt Due $11.65K $11.60K
YoY Change
Total Short-Term Liabilities $993.0K $1.445M $21.16K
YoY Change 35365.14% 51518.39% 60.32%
LONG-TERM LIABILITIES
Long-Term Debt $1.980K $4.950K
YoY Change
Other Long-Term Liabilities $30.07K $50.45K
YoY Change
Total Long-Term Liabilities $32.04K $38.05K $61.43K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $993.0K $1.445M $21.16K
Total Long-Term Liabilities $32.04K $38.05K $61.43K
Total Liabilities $1.025M $1.483M $21.16K
YoY Change 36509.32% 52877.43% 60.32%
SHAREHOLDERS EQUITY
Retained Earnings -$8.259M -$8.249M -$564.1K
YoY Change 1563.33% 24.83%
Common Stock $8.155K $8.155K $7.332K
YoY Change 11.22% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.881M $1.961M $856.5K
YoY Change
Total Liabilities & Shareholders Equity $2.906M $3.445M $877.7K
YoY Change 213.54% 256.89% -10.62%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$9.274K -$334.0K -$56.65K
YoY Change -75.79% 5147.76% 2013.81%
Depreciation, Depletion And Amortization $22.40K
YoY Change
Cash From Operating Activities $490.5K -$42.18K
YoY Change -3026.51% -1520.2%
INVESTING ACTIVITIES
Capital Expenditures $11.40K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$11.40K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.866K
YoY Change
Cash From Financing Activities -$407.2K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities $490.5K -42.18K
Cash From Investing Activities -$11.40K
Cash From Financing Activities -$407.2K 0.000
Net Change In Cash $67.56K -42.18K
YoY Change -503.12% -1520.2%
FREE CASH FLOW
Cash From Operating Activities $490.5K -$42.18K
Capital Expenditures $11.40K
Free Cash Flow $479.1K
YoY Change -2958.52%

Facts In Submission

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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1580170 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
980681 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1647733 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
963917 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
241 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zGbOrZwrgate" 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 style="text-decoration: underline"><span id="xdx_864_zOvi3nz7f5gk">Use of Estimates</span></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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing these financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the years reported. Actual results may differ from these estimates.</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"> </p>
CY2023Q1 us-gaap Deposits
Deposits
250000 myr
CY2023Q1 us-gaap Cash
Cash
56923 usd
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
528679 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
676396 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
64918 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
463761 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
676396 usd
CY2023Q1 ASFH Rental Deposits
RentalDeposits
26940 usd
CY2022Q4 ASFH Rental Deposits
RentalDeposits
22976 usd
CY2023Q1 ASFH Prepaid Expenses
PrepaidExpenses
58897 usd
CY2022Q4 ASFH Prepaid Expenses
PrepaidExpenses
19789 usd
CY2023Q1 us-gaap Other Receivables
OtherReceivables
264 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
32723 usd
CY2023Q1 ASFH Other Deposits
OtherDeposits
4305 usd
CY2022Q4 ASFH Other Deposits
OtherDeposits
6941 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
119985 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
90406 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
202414 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1373405 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1368433 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
801229 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
782617 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
572176 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
585816 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11395 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
478627 usd
CY2023Q1 us-gaap Depreciation
Depreciation
22396 usd
CY2022 us-gaap Depreciation
Depreciation
93653 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
311097 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
453812 usd
CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
80149 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
35413 usd
CY2023Q1 ASFH Receipt In Advance
ReceiptInAdvance
418713 usd
CY2022Q4 ASFH Receipt In Advance
ReceiptInAdvance
260091 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
809959 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
749316 usd
CY2021Q2 ASFH Payments To Acquire Motor Vehicle
PaymentsToAcquireMotorVehicle
36006 usd
CY2021Q2 us-gaap Long Term Debt Term
LongTermDebtTerm
P36M
CY2021Q2 srt Long Term Debt Average Rate Paid
LongTermDebtAverageRatePaid
0.0188 pure
CY2021Q2 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
1063 usd
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
152685 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
87327 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
65358 usd
CY2022 ASFH Recognition Of New Lease
RecognitionOfNewLease
163956 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
90886 usd
CY2022 ASFH Adjustment For Foreign Currency Translation Difference
AdjustmentForForeignCurrencyTranslationDifference
-3621 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
134807 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
22588 usd
CY2023Q1 ASFH Adjustment For Foreign Currency Translation Difference
AdjustmentForForeignCurrencyTranslationDifference
-467 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
111752 usd
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
152685 usd
CY2021 us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
5369 usd
CY2021 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
92696 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
65358 usd
CY2022 ASFH Recognition Of New Lease
RecognitionOfNewLease
163956 usd
CY2022 us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
4212 usd
CY2022 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
95098 usd
CY2022 ASFH Adjustment For Foreign Currency Translation Difference
AdjustmentForForeignCurrencyTranslationDifference
-3621 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
134807 usd
CY2023Q1 us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
1614 usd
CY2023Q1 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
24202 usd
CY2023Q1 ASFH Adjustment For Foreign Currency Translation Difference
AdjustmentForForeignCurrencyTranslationDifference
-467 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
111752 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
81687 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
30065 usd
CY2023Q1 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
24202 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0540 pure
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
474802 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
474802 usd
CY2023Q1 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1 pure
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
528679 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
53662 usd
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
53662 usd
CY2023Q1 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1 pure
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
65197 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-334020 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6123 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
550188 usd
CY2023Q1 ASFH Deferred Tax Liabilities Operating Loss Carryforwards Foreign
DeferredTaxLiabilitiesOperatingLossCarryforwardsForeign
9250 usd
CY2023Q1 ASFH Income Tax Payable Foreign
IncomeTaxPayableForeign
206643 usd
CY2022Q1 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
2500000 myr
CY2022Q1 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
567872 usd
CY2022Q1 ASFH Effective Income Tax Rate Exceeding Capitalization Other
EffectiveIncomeTaxRateExceedingCapitalizationOther
0.17 pure
CY2022Q1 ASFH Taxable Profit
TaxableProfit
600000 myr
CY2022Q1 ASFH Taxable Profit
TaxableProfit
136289 usd
CY2022Q1 ASFH Taxable Profit Remaining Balance Tax Rate
TaxableProfitRemainingBalanceTaxRate
0.24 pure
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
474802 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
53662 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
421140 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
755160 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-334020 usd
CY2023Q1 us-gaap Assets
Assets
3444632 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11395 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
474802 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
53662 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
421140 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
755160 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-334020 usd
CY2023Q1 us-gaap Assets
Assets
3444632 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11395 usd
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6123 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6123 usd
CY2022Q1 us-gaap Assets
Assets
965166 usd
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6123 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6123 usd
CY2022Q1 us-gaap Assets
Assets
965166 usd

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0001493152-23-018428.txt Edgar Link pending
asfh-20230331_pre.xml Edgar Link unprocessable
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