$FUST
FUSE GROUP HOLDING INC.

2024 Q2 Form 10-Q Financial Statement

#000118518524000466 Filed on May 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $82.35K $99.79K $0.00
YoY Change
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change
Gross Profit $82.35K $99.79K $0.00
YoY Change
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $64.42K $114.9K $133.4K
YoY Change -35.44% -13.89% -35.17%
% of Gross Profit 78.22% 115.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $455.00
YoY Change -100.0% -100.0% 1.11%
% of Gross Profit 0.0% 0.0%
Operating Expenses $64.42K $114.8K $133.4K
YoY Change -35.44% -13.9% -35.17%
Operating Profit $17.93K -$15.06K -$133.4K
YoY Change -117.97% -88.71% -35.17%
Interest Expense -$1.140K $1.659K $5.076K
YoY Change -117.35% -67.32% -450.07%
% of Operating Profit -6.36%
Other Income/Expense, Net -$648.00 -$1.659K -$5.076K
YoY Change -90.14% -67.32% 2317.14%
Pretax Income $17.28K -$16.72K -$138.5K
YoY Change -116.25% -87.92% -33.24%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $17.28K -$16.72K -$138.5K
YoY Change -116.25% -87.92% -33.24%
Net Earnings / Revenue 20.99% -16.76%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 66.37M shares 66.37M shares 64.78M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.43K $38.05K $39.72K
YoY Change 92.16% -4.2% -70.96%
Cash & Equivalents $42.43K $38.05K $39.72K
Short-Term Investments
Other Short-Term Assets $16.85K $5.170K $5.240K
YoY Change 3.06% -1.34% 12.21%
Inventory
Prepaid Expenses $16.85K $5.168K $5.236K
Receivables
Other Receivables
Total Short-Term Assets $59.28K $43.22K $44.96K
YoY Change 54.27% -3.88% -68.21%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $1.366K
YoY Change -100.0% -100.0% -98.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.84K $18.82K $47.20K
YoY Change -70.48% -60.13% -36.85%
TOTAL ASSETS
Total Short-Term Assets $59.28K $43.22K $44.96K
Total Long-Term Assets $11.84K $18.82K $47.20K
Total Assets $71.13K $62.03K $92.16K
YoY Change -9.44% -32.69% -57.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $12.52K $21.04K $2.842K
YoY Change -72.29% 640.32% -88.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $200.0K
YoY Change -100.0% -100.0%
Long-Term Debt Due $1.790K $1.780K $2.090K
YoY Change -6.77% -14.83% -35.09%
Total Short-Term Liabilities $160.1K $169.1K $249.4K
YoY Change -46.63% -32.2% 522.75%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $150.6K $503.0K
YoY Change -81.9% -70.06% 64.78%
Other Long-Term Liabilities $0.00 $0.00 $19.91K
YoY Change -100.0% -100.0% -58.18%
Total Long-Term Liabilities $100.0K $150.6K $522.9K
YoY Change -82.3% -71.2% 48.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $160.1K $169.1K $249.4K
Total Long-Term Liabilities $100.0K $150.6K $522.9K
Total Liabilities $260.1K $319.7K $772.2K
YoY Change -69.92% -58.61% 96.55%
SHAREHOLDERS EQUITY
Retained Earnings -$7.972M -$7.989M -$7.695M
YoY Change 2.19% 3.83%
Common Stock $66.49K $66.37K $64.78K
YoY Change 2.64% 2.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$189.0K -$257.6K -$680.1K
YoY Change
Total Liabilities & Shareholders Equity $71.13K $62.03K $92.16K
YoY Change -9.44% -32.69% -57.37%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $17.28K -$16.72K -$138.5K
YoY Change -116.25% -87.92% -33.24%
Depreciation, Depletion And Amortization $0.00 $0.00 $455.00
YoY Change -100.0% -100.0% 1.11%
Cash From Operating Activities $4.970K -$17.59K -$127.1K
YoY Change -104.25% -86.16% -11.65%
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 -580.0 -780.0 99.26K
YoY Change -100.58% -100.79% -50.28%
NET CHANGE
Cash From Operating Activities 4.970K -17.59K -127.1K
Cash From Investing Activities
Cash From Financing Activities -580.0 -780.0 99.26K
Net Change In Cash 4.390K -18.37K -27.85K
YoY Change -124.87% -34.04% -149.94%
FREE CASH FLOW
Cash From Operating Activities $4.970K -$17.59K -$127.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Security Exchange Name
SecurityExchangeName
NONE
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
333-202948
dei Entity Registrant Name
EntityRegistrantName
FUSE GROUP HOLDING INC
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-1017473
dei Entity Address Address Line1
EntityAddressAddressLine1
805 W. Duarte Rd., Suite 102
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i><span style="text-decoration:underline">Reclassification</span></i></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Certain prior period’s accounts have been reclassified in conformity with current period’s presentation. These reclassifications had no effect on the reported results of operations.</p>
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LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1778 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2449 usd
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5168 usd
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12668 usd
CY2024Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
0 usd
CY2023Q3 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
0 usd
CY2024Q1 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
50000 usd
CY2023Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
50000 usd
CY2024Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1134 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
382 usd
CY2024Q1 us-gaap Convertible Debt
ConvertibleDebt
51134 usd
CY2023Q3 us-gaap Convertible Debt
ConvertibleDebt
50382 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
50000 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.03 pure
CY2023Q2 us-gaap Debt Instrument Term
DebtInstrumentTerm
P24M
CY2023Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.45
CY2024Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
50000 usd
CY2024Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1134 usd
CY2023Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
50000 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
382 usd
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6713 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
25715 usd
CY2024Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
4700 usd
CY2024Q1 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
2013 usd
CY2023Q3 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
7764 usd
CY2023Q3 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
16000 usd
CY2023Q3 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
1951 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2543 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2640 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2740 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
90228 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
102378 usd
CY2024Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1510000 usd
CY2024Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1512851 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1490909 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
279836 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
279836 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
437 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
468 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1793124 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1771213 usd
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
-0.21 pure
fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
-0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0389 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0605 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2799 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.031 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0093 pure
CY2024Q1 fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
-0.21 pure
CY2023Q1 fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
-0.21 pure
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0698 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0698 pure
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
119786 usd
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0 usd
CY2023Q4 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
99786 usd
CY2022Q4 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0 usd
CY2021Q1 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
1000000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
14387 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
14386 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y7M2D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M2D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
7194 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
7193 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
20280 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
375 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
19905 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19905 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
0 usd
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001636051

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